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IGF Asset Based Lending (ABL) has facilitated the management buy-out (MBO) for Testing Solutions Group (TSG), with a GBP1.5million deal. The three-year facility, will be used for the acquisition and to provide ongoing working capital.
Established in 2002, TSG is a specialist software testing company that was formed to help ensure successful business outcomes for clients’ IT systems. The company provides assurance and testing solutions, certified and practical training and recruitment services, predominantly in financial services and law.
IGF ABL created a bespoke and short-timetable option for TSG, resulting in a GBP1.5million deal that included Accounts Receivable and a
Private equity firm General Atlantic has appointed Eric Zhang, former Global Partner and Managing Director of The Carlyle Group, as Managing Director and Head of China. Zhang will lead the firm’s investments in growth companies across China.
“We are excited to build upon our 16 years of experience partnering with leading entrepreneurs and growth companies in China,” says Bill Ford, Chief Executive Officer of General Atlantic. “Eric’s impressive track record in Asia, deep local expertise, and proven ability to invest in and partner with outstanding companies make him an ideal leader for our local team and long-term efforts in China.”
European mid-market buyout investor Equistone Partners Europe Limited has added Richard Briault-Hutter and Roman . Hegglin to its investment team.
Briault-Hutter, who begins his role as Investment Manager with immediate effect, joins Equistone’s London office from corporate advisory firm Duff & Phelps where he held the position of Director. Before this, he worked as an Associate Director at DC Advisory (formerly Close Brothers Corporate Finance), where he focused on the consumer and travel sectors within the firm’s M&A team. Briault-Hutter holds a BA in Economics from the University of Manchester.
Briault-Hutter’s appointment follows the recent appointment of Hegglin to
Bregal Freshstream has acquired Radley, the well-known British handbag and accessories brand. Cavendish Corporate Finance advised Radley on the deal.
Founded in 1998, Radley is now the leading British handbag and accessories brand in the rapidly growing affordable luxury market with a multi-channel business and established distribution network covering the UK, Europe and Asia. Since 2007, the business has been majority owned by Exponent Private Equity.
Following the deal, veteran retailer Don McCarthy will join the business as Chairman. McCarthy is an entrepreneur with over 40 years investing, operating and controlling many high street names. He has previously held
AnaCap Financial Partners (AnaCap) has reached a final close on its third Credit Opportunities fund, raising a total of EUR595 million. AnaCap Credit Opportunities III was oversubscribed at its newly increased hard cap, following extremely strong interest from existing and new investors, and is approximately 30 per cent larger than its predecessor vehicle.
Combined with the firm’s latest private equity fund, AnaCap Financial Partners III, L.P., AnaCap has now closed funds totalling nearly EUR1.5 billion in 2016.
The Fund will target performing, semi-performing or non-performing credit assets comprising primarily consumer, SME and mortgage debt across Europe, including loans, leases, securities
Noerr has advised the Chemnitz-based start-up Staffbase in a Series A round of financing. The investors Capnamic Ventures and KIZOO Technology are providing the company with over EUR2 million in total.
The new lead investor Capnamic Ventures will also drive expansion into the US.
Staffbase, which has been on the market for two years, is now Europe’s leading provider of employee and intranet apps for smartphones. Among its clients are Heineken, Siemens, Viessmann and T-Systems MMS. Staffbase provides companies with a platform for producing their own employee apps in a straightforward way. In addition, news, documents, calendars or shift schedules
Mid-market private equity firm LDC has completed the exit of Synexus, a global research site group which provides patient recruitment and treatment services in support of drug research for clinical trials, in a deal that values the business at GBP178 million.
Synexus has been acquired by Jaguar Holding Company Luxembourg SARL and the transaction generates a 2.3x money multiple for LDC.
Headquartered in Manchester, UK, Synexus is one of the only global patient enrolment and investigator site management organisations (SMO). It enrols and manages patients for large, complex clinical trials on behalf of a number of leading international pharmaceutical,
More than a third (36 per cent) of M&A dealmakers believe that online deal sourcing will eventually revolutionise the M&A industry, according to a new survey carried out by Intralinks. In 2013, that number was only 23 per cent.
Some 31 per cent of respondents polled for the Deal Networks and the Evolution of Getting M&A Deals Done survey currently use an online deal network to support deal sourcing. Of sell-side M&A professionals using online sourcing platforms, nearly 50 per cent have marketed at least one deal online in the last 12 months and 28 per cent have marketed more
Dunedin-backed CET, which supplies specialist outsourced services to the construction and insurance sectors, has acquired Chesterfield based Omega Calibration Laboratories, its second acquisition in just four weeks.
This acquisition will provide customers with a broader range of services and further cements CET’s position as a leading UKAS accredited testing and outsourcing powerhouse in the UK.
Omega Calibration Laboratories provides specialist metrology calibration services and repairs to a diverse range of sectors, with clients including Bombardier and JCB. In early May, CET completed the acquisition of Doncaster based testing business, Construction Testing Solutions (CTS).
Both acquisitions, which have
Caerphilly-based Direct Healthcare Group has acquired Nightingale Care Beds, a provider of specialist bariatric products.
The deal is the first in a series of planned acquisitions for the Direct Healthcare Group. The Group was formed following the management buyout of Direct Healthcare Services (DHS) in April this year, which was backed by NorthEdge Capital.
Nightingale, based in Wrexham, has more than 20 years’ experience providing bariatric equipment and services to a range of healthcare sectors.It has developed a reputation for market-leading service and support, and is renowned for its bariatric support packages, which are configured to suit specific requirements.
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