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Noerr has advised Oddo Seydler Bank on the restructuring of a EUR60 million bond of Singulus Technologies as part of a debt-equity swap which involved issuing new shares and bonds.
The lead partners were Frankfurt-based Dr Laurenz Wieneke and Dr Julian Schulze De la Cruz.
In February 2016, the Singulus bondholders and shareholders approved a comprehensive restructuring plan at the company which provided that the former bondholders should each transfer their bonds to Oddo Seydler as the settlement agent and receive rights to purchase new shares and bonds in return. The former bondholders made use of more than 82 per
Audax Private Equity has partnered with management to acquire RelaDyne from AEA Investors, a private equity firm based in New York.
Terms of the transaction have not been disclosed.
RelaDyne, headquartered in Cincinnati, Ohio, is a lubricant, fuel and diesel exhaust fluid (DEF) distributor providing customers with integrated reliability management services for industrial and commercial businesses. RelaDyne’s distribution platform spans more than 90 locations serving customers across the Central, Mid-Atlantic, and Southern US.
Geoffrey S Rehnert, co-chief executive of Audax Group, says: “RelaDyne is a leader in lubricant, fuel, and DEF distribution and customer service. We look forward
Groupe RG, a portfolio company of private equity investor Abénex, has refinanced its senior acquisition debt and mezzanine with a more flexible and less expensive new debt structure, allowing it to increase its financial capacity to seize external growth opportunities.
The new debt mostly consists of a transferable senior debt provided by the existing banks of the group (LCL, BNP Paribas, Société Générale) together with Crédit Agricole Centre Est as well as the debt fund Artemid.
A deconsolidating factor line was also set up alongside this facility by GE Factofrance.
With a network comprising 29 agencies and warehouses
The gap between top performing endowment portfolios and the median has been wide of late, and a key indicator of better performance is a 15 per cent or greater allocation to private investments like venture capital, private equity and distressed assets.
That's according to research among a universe of 453 university, college and foundation endowments by investment adviser Cambridge Associates.
The research, published in a new Cambridge report, "The 15 per cent Frontier," finds that endowment portfolios with more than 15 per cent allocated to private investments have outperformed their peers consistently, and for decades.
For the 2015
Elevate, a provider of online credit solutions for non-prime consumers, has increased its credit facility with Victory Park Capital (VPC), a privately held registered investment adviser dedicated to alternative investing, by an additional USD100 million to a total of USD545 million.
The company will use the additional capital to support the rapid growth of its credit products in the US and UK and for further investment in its suite of online credit solutions.
“Elevate has become a clear leader in this space and we are excited to support their growth,” says Tom Welch (pictured), principal at Victory Park Capital.
Nomad Health, an online marketplace connecting doctors with freelance clinical work, has completed a USD4 million Series A financing led by First Round Capital and RRE Ventures with participation from .406 Ventures.
The Series A financing will support a nationwide product rollout that will help address the country’s doctor shortage crisis.
“We are thrilled to be backing Nomad Health as they introduce an innovative solution for hospitals and clinics across the US that struggle to hire enough doctors,” says First Round Capital partner Chris Fralic, who will be joining the company’s board. “Nomad has built a critical and necessary
HIG Capital has sold its portfolio company Amerijet Holdings to an affiliate of ZS Fund, a middle market focused private equity firm.
Since its founding in 1974, Amerijet has grown from a small charter service operator to the leading provider of cargo and logistics solutions to the Caribbean and Latin America.
It operates a fleet of 10 aircraft, offering scheduled and charter cargo services and transporting over 200 million pounds of freight annually. The company maintains its main cargo and flight hub in Miami, a network of field offices throughout the US, and has over 200 agents across 137
Nasdaq Nordic is planning to make changes to the Alternative Investment Funds market on Nasdaq Copenhagen.
The changes include renaming the current market segment OMX CPH Other Collective Investments and adding two new instrument subtypes, AIF and Capital Associations.
In addition, Turnover Lists Foreign funds – indicativeNAV and Other Collective Investment Schemes will be renamed. Related List population Other Collective Inv.DKK will also be renamed and an additional List Population created.
The AIF changes are planned for INET and GCF production as of 5 September 2016 and testing will be available in INET Test (NTF) and GCF
Mid Europa Partners, a private equity firm focused on Central and South Eastern Europe, has acquired full control of CEE road freight transport company Waberer’s International Nyrt by acquiring the shares held by the founder and CEO György Wáberer.
As a result Mid Europa has increased its stake from 56.8 per cent to 97.1 per cent in the company.
Waberer’s is the largest road transport company in Hungary and one of the largest road freight transport companies in Europe, operating a fleet of 3,500 trucks with a regional presence in Belgium, Germany, France, Italy, the Netherlands, Poland and the
Backstop Solutions Group, a provider of cloud-based solutions for hedge funds, funds of funds, pensions, endowments, private equity firms, consultants and family offices, has expanded into the Asia Pacific region with the opening of its sixth office and the hiring of seasoned industry professional Steve Au (pictured) as director of institutional sales – APAC.
Au brings more than 10 years of multicultural sales and management experience to Backstop, having a deep understanding of alternative investments, hedge fund and private equity technology and operational requirements. He previously spent time in senior sales and management positions for Charles River Development and Eze
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