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European fund manager STAR Capital Partners has acquired Synergy Health Managed Services Limited – the operator of the UK Linen Management Services (LMS) business – for GBP50 million.
This is the first acquisition made by STAR’s third fund (STAR III).
The LMS business of Synergy Health Managed Services Limited, a wholly owned indirect subsidiary of STERIS plc, was created in 1996 and provides a range of sterile linen and laundry management services to hospitals and other healthcare providers throughout the UK including NHS trusts, private hospitals, ambulance trusts and healthcare and community trusts. The purchased company owns three dedicated
Vincent Mortier (pictured), Deputy CIO, Global Head of Multi-Asset Amundi and Pascal Blanqué, CIO, Global Head of Institutional Division Amundi have issued a joint statement on the situation post Brexit.
They write that a few days after the surprise vote in the UK, uncertainty remains high and that they believe it won’t ease anytime soon given the complexity of the subjects to be dealt with.
“However, we have some clear perspectives during this time of uncertainty. Firstly: this is a political crisis, not a financial one. We are not in a revival of 2007/2008. Secondly, there will certainly be
Private equity portfolios will see significant mark-downs in the near term following the UK’s decision to leave the EU, according to a survey of 50 UK and global private equity firm by Cebile Capital.
However, there is an expectation of spirited deal flow as debt markets improve, in the context of weak equity markets.
The survey reveals that deal prices will be driven down as large cap funds are largely in dollars and euros and will now find interesting buying points in the UK, given the depreciation of Sterling, while deal volumes protected by the limitation of other financing options
In the wake of last week’s referendum result, there are obviously a number of questions regarding regulation and passporting. Bobby Johal, Managing Consultant, Cordium, comments…
UCITS funds will still be distributed across Europe, but not in quite so straightforward a manner as is the case presently. UK UCITS will lose their status (under the UCITS directive) and most likely become alternative investment funds (AIFs).
If we assume the UK is to be a ‘third country’ (the so-called WTO option: a big assumption, subject to much debate over the coming months), this will result in the loss of passporting rights and
TorQuest Partners has held the final closing of TorQuest Partners Fund IV, with USD925 million of committed capital.
TorQuest IV will apply the firm's established and highly successful middle-market investment and operating strategy of partnering closely with management teams to create value through strategic change, operational improvements, and the successful integration of accretive add-on acquisitions.
"We very much appreciate the ongoing trust and confidence of our limited partners," says Brent Belzberg, Senior Managing Partner. "We will continue to execute the same strategy with the same team that has delivered attractive investment returns for our partners, and established a strong reputation
Growth private equity firm TA Associates has acquired a majority interest in Masquepet (Kiwoko) from Corpfin Capital Fund III (Corpfin Capital) and Prince Capital Partners (Prince Capital) who sold an 89.4 per cent stake to TA Associates and the founders of Kiwoko.
Financial terms of the transaction have not been disclosed.
Founded in 2007 by Álvaro Gutiérrez, Javier Osa and Emilio Goyanes, and headquartered in Madrid, Kiwoko is the largest chain of pet care specialty retail stores in Spain. Over the last nine years, and with the financial support of Corpfin Capital and Prince Capital, the founders have grown Kiwoko
Silverfleet Capital, the European private equity firm, has sold Cimbria, a Danish-headquartered manufacturer of equipment and processing lines for seed and grain, to AGCO Corporation (AGCO) for approximately EUR310 million.
Cimbria, headquartered in Thisted in Denmark, is a leading global manufacturer of equipment used for seed processing and post-harvest grain handling. It has four production facilities in Denmark, Austria, the Czech Republic and Italy, and employs approximately 900 people globally.
Silverfleet acquired Cimbria in April 2013 having identified the potential to build an international leader of scale in the seed and grain-processing sector. Silverfleet recognised that Cimbria’s products are
Eversheds has advised Steelite International, the GBP100 million-turnover ceramics manufacturer, on the sale of the company to US Private equity house, PNC Riverarch.
The Eversheds corporate team was led by partner Catherine Eley, with support from associates James Finney and Peter McHugh.
The acquisition by PNC Riverarch, the private equity arm of the PNC Financial Services Group, provides an exit for chief executive Kevin Oakes.
John Miles has now been appointed Steelite chief executive.
Broadwell Capital Limited (Broadwell) has successfully raised USD1 billion in commitments for its first private equity fund, the Broadwell Tactical Opportunities Fund (Fund).
Broadwell was established to acquire opportunistic investments across all sectors and asset classes, targeting investment opportunities that are often complex and illiquid.
Caspar Gilroy, Chairman and founder of Broadwell explained “We see significant opportunity to target esoteric deals that most private equity houses will avoid due to complexity. We have the ability to move rapidly and are agnostic when it comes to which sectors we look at. We look to deploy a minimum of USD100 million per
Beringea Growth Finance has realised an ‘attractive’ return following the acquisition of Speciality European Pharma (SEP) by life science investor Juno Pharmaceuticals.
In December 2014 Beringea Growth Finance agreed a GBP4.7m 4-year term loan to SEP. Beringea Growth Finance is part of Beringea, the transatlantic investor in high growth businesses and the loan was made from the ProVen VCTs managed by Beringea. This loan enabled SEP to repay an earlier facility with Clydesdale Bank and to build upon European growth. With Juno’s acquisition of SEP, this loan has been repaid early, generating healthy returns for the ProVen VCTs.
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