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Investindustrial, through B&B Italia, has signed an agreement to become the majority partner of Arclinea Arredamenti, an Italian provider of high-end designer kitchens.
The Fortuna family, the current sole shareholder of Arclinea, will continue to own a minority stake, and at the same time will continue its role in the operational management, with Silvio Fortuna becoming president of the company.
Through this agreement, Investindustrial creates a global high-end furnishings player with about EUR200 million turnover (85 per cent of which is exported) and a presence in over 80 countries worldwide.
The operation will offer B&B Italia – a
Although California is best known for its venture capital industry, the state has seen marked growth and diversification of its alternatives market, as other private capital and hedge fund managers are drawn to the area, according to Preqin.
The number of active California-based private capital firms has more than trebled since the start of 2000, and there are now a record 949 active fund managers. Additionally, 233 hedge fund managers have been incepted in the state since 2010, leading to the launch of 750 new hedge funds.
Unsurprisingly, the growth in the number of California-based managers has led to
Newly fully authorised peer-to-peer business debt platform Peer Funding is gearing up for launch with an early bird investor offer.
With launch set for the end of September 2016, the company is offering a bonus reward uplift in return for investors committing funds to the platform.
Each investor committing an amount of GBP5,000 or GBP10,000 will receive either a bonus reward of 1 per cent or 2 per cent respectively. The bonus reward is in addition to the earnings investors’ receive from the loans they personally choose to invest in on the Peer Funding platform.
The offer to
Arma Partners has acted as financial adviser to Brite:Bill on its sale to Amdocs.
Founded in 2010, Brite:Bill is headquartered in Dublin, Ireland and backed by Delta Partners, Enterprise Ireland, Investec Ventures and other angel investors and founders.
Brite:Bill has been named a “Cool Vendor” by Gartner and serves global Tier 1 customers such as Rogers, Sprint and Vodafone. The company manages bill presentation for over USD5 billion billing value per month.
Brite:Bill’s platform transforms the way service providers present and manage billing communications through personalised, targeted messages and content.
The acquisition will strengthen Amdocs’ digital offerings
Financial holding company Italmobiliare has completed its acquisition of private equity house Clessidra Sgr after receiving authorisation from the Bank of Italy.
Italmobiliare now holds 99 per cent of Clessidra.
The company’s new board of directors is as follows: Carlo Pesenti (chairman), Mario Fera (CEO), Riccardo Bruno, Manuel Catalano, Federico Ghizzoni, Alessandra Manuli and Galeazzo Pecori Giraldi.
A new board of statutory auditors has also been appointed – Marina Brogi (chairman), Francesco Di Carlo and Alessandro Grange.
An investment holding owned by the Pesenti family, Italmobiliare manages a diversified investment and equity portfolio worth more than EUR1.6
Private equity and alternative asset investment firm HIG Capital has expanded its footprint in Latin America with the opening of an office in Colombia.
Founded in 1993, HIG focuses on private equity investments in small and mid-sized companies where it can play a significant role in helping to unlock potential value by supporting the companies’ operations.
HIG is already active in Latin America, having established operations in Brazil since 2012, and raising a dedicated USD740 million Latin America fund in 2015.
HIG’s Colombia office is based in Bogotá and is led by Andrés Marulanda. Marulanda has over nine
Benhamou Global Ventures (BGV), an early-stage venture capital firm which focuses on enterprise IT opportunities in global markets, has held the first close of its third fund with over 50 per cent of the targeted USD75 million fund committed to date.
Investors in the third fund include both existing limited partners (LPs) as well as new international and institutional LPs including several Chinese investors.
Extending the strategy of fund BGV II, BGV III will focus on enterprise IT sectors including cyber security, cloud-based services and applications, web scale infrastructure, advanced analytics and industrial Internet of Things.
BGV recently
Car rental company Avis Budget Group has agreed to purchase France Cars, a privately-held vehicle rental company based in France, to significantly expand its presence in the French market. Terms of the transaction have not been disclosed.
The purchase will give Avis Budget Group the second-largest light commercial vehicle fleet in France. It is also a key step in affirming the company's commitment to the local market, further increasing its ability to serve customers of all sizes, from entrepreneurs to multinationals to leisure travellers.
The acquisition will add 8,000 cars, vans and light trucks to the Avis Budget Group fleet
Tikehau IM has held the close of its Tikehau Direct Lending III (TDL III) fund at EUR610 million.
Tikehau IM’s total asset under management in private debt amount to EUR3.3 billion.
Over 40 per cent of the fund is already invested through 15 portfolio companies based in France, Spain and Norway.
Most recent investments include a unitranche financing for the acquisition of Financière Rive Gauche by the ATLAND Group and the acquisition of Marlink, Airbus Group’s commercial satellite communication business, by Apax.
The investor base predominantly includes insurance companies, pension funds, private banks and family offices based
Transportation platform oTMS has raised USD25 million in a Series B funding round led by Chen Weixing, the founder of Kuaidi Dache.
Previous investors Baidu, Chengwei capital and Matrix Partners China also participated in the round. China Renaissance was the exclusive financial advisor of the deal.
The funding will be used to support oTMS's growth, enhance its product depth and breadth, and broaden its national footprint.
"I have seen many logistics internet innovation, the idea of oTMS has truly reflected the core value of the internet by connecting people and companies with cloud and mobile technologies through unique transport ecosystem and
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