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FactSet Research Systems is to sell its market research business focused on advisor-sold investments and insurance, consisting of Market Metrics and Matrix Solutions, to Asset International, a portfolio company of Genstar Capital.
The total purchase price is approximately USD165 million, subject to certain working capital adjustments, with an additional earn-out of USD10 million based on the achievement of certain growth targets over the next two years.
“This transaction is consistent with our long-term strategic direction and our commitment to delivering value to our shareholders,” says Phil Snow, Chief Executive Officer of FactSet. “We appreciate the efforts of the dedicated employees
The asset management industry faces a ‘triple whammy’ of challenges in 2016 – comprising a growing threat from disruptors, a tsunami of regulation and market turmoil – according to a new industry survey from Multifonds.
Multifonds’ annual ‘Every Fund survey’, which surveyed fund managers and administrators who manage and service assets exceeding USD27 trillion and USD19 trillion respectively, highlights the key challenges and concerns facing the asset management industry today.
Over half (54 per cent) of respondents believe a new game changing disruptor, such as Amazon or Google will enter the market in the next two years.
The
Equistone Partners Europe-backed WEALTH at work – a provider of financial education in the workplace for the private sector – has acquired the Affinity group of companies (The Farleigh Group Ltd) based in Bristol.
Affinity is a provider of financial education in the public sector with over 200 employers including local authorities, fire and police services and the NHS, throughout the UK. The acquisition is hugely significant, not only broadening coverage to now include both the private and public sectors, but also increasing assets under management to over GBP1.5 billion. Most importantly, the move comes at a time when public
BlackRock has named Mark Wiseman as incoming Senior Managing Director and a member of the firm’s Global Executive Committee (GEC).
Wiseman will become Head of BlackRock’s Global Active Equity business and will become Chairman of the BlackRock Global Investment Committee, the investment sub-committee of the GEC. He will also help support BlackRock Alternative Investors. Wiseman will report to Robert S Kapito, President of BlackRock, and will join the firm in early September.
Wiseman currently serves as President & Chief Executive Officer of CPP Investment Board, which manages approximately CAD280 billion on behalf of the Canada Pension Plan and its 19
Groupe Eurotunnel is to purchase STAR Capital’s 51% per cent share of ElecLink. The transaction is subject to certain closing conditions. Once concluded, Groupe Eurotunnel will hold 100 per cent of ElecLink.
eleclink is a cross-channel electricity interconnector that will be positioned within the service tunnel of the Channel Tunnels. When completed, the interconnector will be capable of carrying 1000MW of electricity via two 500MW strands.
With the UK’s power requirements increasingly relying on unpredictable renewable energy sources (ie Wind), the interconnector will play an important role in providing additional capacity to the UK’s Grid by tapping into Continental
The British Business Bank has launched the initial phase of Help to Grow, which is expected to support around GBP200 million of growth loans in its first two years. The Prime Minister announced the programme in February 2015.
The first GBP30 million tranche of lending supported by Help to Grow will be available to growing businesses through Lloyds Banking Group.
Loans of up to GBP2 million will support the development of new products and processes, stimulate research and innovation and help businesses target new export markets.
The lending will be available to businesses across all sectors, and is expected to
Mergers and acquisitiojns firm Woodbridge International has advised Germany-based GEPPERT-Band GmbH to Dorner Manufacturing Corporation.
GEPPERT-Band, headquartered in Jülich, Germany, designs, manufactures and sells branded belt conveyors made from aluminum, steel and stainless steel for indoor applications. The Company’s conveyor belts are at work in hundreds of the world’s largest companies. Products are used in industries such as food processing and packaging, automotive, metal-working, chemical and pharmaceutical. Customers are primarily in Germany and in other European markets.
Dorner is a leading Wisconsin-based designer and manufacturer of unit handling conveyor systems and component parts used in automation applications for industrial, packaging,
Seed 2 Growth Ventures (S2G), a Chicago-based venture capital firm has led an investment in Vancouver-based Terramera, Inc. Other key investors in the financing include ACA Investments (affiliate of Sumitomo Corporation), Bold Capital Partners, Renewal Funds and Maumee Ventures.
“Terramera is very proud to be working with S2G Ventures as our lead investor in this recent round of financing,” says Terramera CEO, Karn Manhas. “Terramera develops safer, more effective solutions for public health, sustainable food production, and bee health, by harnessing the power of natural plant defenses with innovative green chemistry. This investment allows us to continue our rapid growth,
Growth private equity firm TA Associates has completed an investment in 10bis, a B2B and B2C online food ordering marketplace and payment platform in Israel. Financial terms of the transaction have not been disclosed.
In the B2B market in Israel, 10bis operates a leading online food marketplace that allows businesses to provide employee meal benefits programs. The 10bis platform is integrated into a company’s human resources and accounting systems, with employees’ allowances made available through a dedicated 10bis account. Employees can make restaurant purchases via the 10bis mobile app or website, or by using a 10bis card in person at
Privet Capital, a private equity investor focused on creating value through operational improvement, has acquired Cash Processing Solutions Limited and its subsidiaries (CPS) from De La Rue.
CPS is a specialist in providing cash processing hardware, software and related services to central banks, commercial banks, state printworks and commercial cash processing companies. Its sorting solutions process 125 billion banknotes per annum from operations in 106 countries, supported by a team of over 500 people.
Under the terms of the sale agreement, De La Rue will enter into a strategic partnership with CPS that will focus on product innovation and
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