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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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Activa Capital has taken a majority stake in Look Cycle, alongside the existing owners, Dominique Bergin and Thierry Fournier, with the aim of accelerating the brands expansion in France and internationally.
As the inventor and a world leader in clipless pedals, Look Cycle capitalises on 30 years of experience at the highest sporting level; as a leader in the field of carbon technology, Look Cycle also designs and manufactures exceptional bikes.
With a turnover of EUR45 million and around 400 professionals, Look is one of the most innovative French companies in the cycle sector. The company assigns more than 10
Monroe Capital has appointed Steve Hinrichs as Managing Director in its Los Angeles office. He will serve as the firm’s Group Head for the Southern California region.
“We are very excited to add Steve to the Monroe Capital team,” says Ted Koenig, President & CEO of Monroe Capital. “Steve has an accomplished career of over 25 years providing financing solutions to middle-market companies and brings with him many great relationships and a wide range of experience across multiple industries. He will help us continue to grow our robust origination platform that we have built throughout the US and Canada.”
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Bedell Cristin has further strengthened its corporate team in response to sustained client demand through the appointment of Guy Westmacott as Senior Associate in the firm’s Jersey office.
Westmacott joins from Mubadala Development Company, an Abu Dhabi Government-owned investment and development company, where he worked between 2008 and 2016. During his time as Senior Legal Counsel with Mubadala, Westmacott was primarily involved in mergers and acquisitions and also gained extensive experience on corporate and project finance in addition to restructuring matters. Guy also worked on a number of deals in the renewable sector with Masdar, a subsidiary of Mubadala. As
Aurelius has acquired Working Links, a provider of welfare and rehabilitation services with operations in the UK, the Republic of Ireland, and the Middle East, for an undisclosed sum.
Working Links delivers employability and rehabilitation services across three markets:
UK employability services, where Working Links improves lives through employment, training, and skills development. Example contracts are the three ‘Work Programme’ contracts in Scotland, Wales, and South West England that support long-term unemployed people in returning to the labour market, and five ‘Work Choice’ contracts to provide disabled people with assistance in finding work, for the UK Government’s Department for Work
Munich-based Venture Capital firm Target Partners has appointed Holger G Weiss as its newest Venture Partner. Weiss will help to build out Target Partners’ startup network, with a focus on the Berlin ecosystem and the topics of Future Mobility and Internet of Things.
Weiss has 15 years of entrepreneurial experience in the Connected Mobility space. Most recently he was CEO of Aupeo, which under his leadership became one of the top connected audio offerings for the automotive industry. In 2013, Weiss led the sale of the company to Panasonic Automotive Systems of North America. Prior to Aupeo, he played a
European special situations investor Perusa Partners Fund II (Perusa) has sold its majority stake in Swedish Cyber Security firm Coresec Systems to Investcorp and to Investcorp’s portfolio company SecureLink Group NV.
Coresec Systems AB (“Coresec”) is one of Scandinavia’s largest managed cyber security service providers with sales of SEK 850m (EUR 90.5m). Today, Coresec offers integrated cyber security solutions and managed services to corporates and institutions across Northern Europe and the Benelux. With more than 250 employees across seven offices and multiple 24/7-manned Network & Security Operation Centres, Coresec’s security experts provide security advice and hands-on assistance to a demanding
Cyrus Investment Management (CIM), a specialist engineering turnaround EIS investment adviser, has appointed Clare Glackin, Head of Industrial Practice at Odgers Berndtson, to the firm’s Advisory Board.
Glackin heads the Industrial practice at Odgers Berndtson, where she undertakes executive searches for manufacturing and engineering businesses. Her particular focus is senior management in the global Aerospace, Defence, and Security sectors. Prior to commencing her career in executive search, she worked on major infrastructure projects as a Chartered Civil Engineer, before becoming a diplomat with the Foreign and Commonwealth Office. She subsequently moved to the Ministry of Defence, where she led teams
European private equity firm Cinven has held the final close of the Sixth Cinven Fund at its hard cap of EUR7 billion (approximately USD8 billion).
Despite the strong level of demand, Cinven has closed a right-sized fund to invest primarily in Europe in line with its investment strategy focused on high quality businesses with market leading positions and strong cash flows. Cinven will continue to use its long established matrix of sector expertise and local country experience to target companies where it can strategically drive revenue growth both in Europe and globally. Its Portfolio Team, operating across Europe, the US
BGF (Business Growth Fund) has appointed Will Copeland to the investment team in the Midlands. Copeland joins BGF from PwC where he worked as a manager in the transaction services team, providing due diligence to a variety of buyers, sellers and refinancers.
Based in BGF’s Birmingham office, Copeland joins a team of 10 investors covering the Midlands who, in addition to identifying investment opportunities, provide support to the companies they back.
So far this year, the team has made investments in Sertec Group, a manufacturer of stampings and welded assemblies; Paintbox Group, an automotive finishings supplier; Solid Solutions, the UK’s
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