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Actera Group and Esas Holding have agreed the sale of Mars Cinema Group, a cinema operator in Turkey, to CJ CGV for an enterprise value of USD800 million.
Alongside Actera and Esas, the minority shareholders, Muzaffer Yildirim and Menderes Utku, will also sell their shares as part of the transaction. The transaction is subject to standard regulatory approvals and is expected to close in May.
Acquired by Actera in 2010, Mars operates 83 multiplexes with 736 screens under the “Cinemaximum” brand in 32 provinces across Turkey.
Since the acquisition, Mars has significantly grown its network by increasing the
Graham Carberry has become a Partner in Livingstone’s London team with effect from 1 April 2016.
Carberry has been with Livingstone for 11 years and has played an important role in developing the firm’s Industrial sector team, focusing on Engineered Products, Print & Packaging and Defence & Security.
Patrick Groarke, Partner at Livingstone London and head of the Industrial sector team, says: “Graham has made a major contribution to the ongoing success of our Industrial team and has a large and growing client base that looks to him for his counsel and support.”
Jeremy Furniss, Partner at Livingstone London, adds:
Guernsey firms Carey Olsen and Ipes have assisted Endeavour Vision on the fundraising of Endeavour Medtech Growth LP, which closed at its hard cap of EUR250 million having been oversubscribed.
This makes it the largest dedicated medtech fund in Europe and one of the largest pure medtech funds worldwide.
Advised by healthcare and technology investor Endeavour Vision Ltd, the specialist fund is targeting European and US companies in the medical device and digital health sectors with products that have gained regulatory approval and are already generating commercial traction. Endeavour Vision Ltd is an internationally-recognised investor in the healthcare and technology
Hennessy Capital Acquisition Corp II (HCAC) and United Subcontractors Inc (USI) are to merge with HCAC acquiring all of the outstanding capital stock of USI Senior Holdings, Inc, the indirect parent company of USI.
In connection with the merger, HCAC will change its name to USI Holdings, Inc. and continue to list its common stock and warrants on the NASDAQ Capital Market under the tickers USI and USIW, respectively.
USI is a leading provider of installation, construction and distribution services to the residential and commercial construction markets in the United States, with a national platform consisting of 43 locations
BGF (Business Growth Fund) has expanded its South West and Thames Valley investment team with the appointment of Alex Snodgrass (pictured), who joins BGF’s regional team of 10 people responsible for identifying investment opportunities and managing the deal process from origination through to completion.
Snodgrass has more than 10 years’ experience backing ambitious entrepreneurs and management teams, and joins BGF from the investment team at Lloyds Development Capital. Before that, Alex worked at Bank of Scotland Integrated Finance in its investment and portfolio management teams.
BGF is expanding the size of its team in the South West following a
Palamon Capital Partners (Palamon) has agreed the sale of Towry to Tilney Bestinvest for GBP600 million, subject to regulatory approvals. The sale will result in total Sterling investment returns for Palamon of 13 times invested capital.
Towry is one of the largest independent wealth managers in the UK with more than GBP9 billion of client assets, 85 per cent of which are managed under discretionary investment mandates. Towry employs more than 900 staff across 21 regional offices and offers award-winning investment management alongside highly skilled financial planning. The combination of Towry and Tilney Bestinvest will create the leading UK wealth
Edison, the international equity research firm, has appointed Robert Murphy as its new Head of Investment Trusts as part of the division’s ongoing expansion.
Murphy joins the London office as head of investment trusts in the UK. Formerly a managing director of equity research at HSBC London, he led the coverage of the major global investment banks and worked on numerous strategic projects for Group and Global Banking & Markets.
A chartered financial analyst, Murphy has more than 25 years’ experience as a fund manager and equities analyst. Before HSBC, he was global financials analyst at Gladstone Partners, covering
Palatine Private Equity has backed the secondary buyout of holiday park group Verdant Leisure.
Verdant currently operates four holiday parks based in Southern Scotland and North East England with over 2,100 pitches, comprising of privately owned lodges and holiday homes, holiday lettings and touring facilities.
Established in September 2010 by an experienced management team led by CEO Graham Hodgson, Verdant has capitalised on the growing trend towards ‘staycations’ in the UK. To date the team has acquired four parks comprising of Thurston Manor and Pease Bay in September 2010, Viewfield Manor in July 2011 and Riverside in January 2012.
Palatine
IK Small Cap I Fund, advised by IK Investment Partners (IK), is to acquire Touristry AB, a provider of tourism related services in the Nordics, primarily focused on bus and boat sightseeing (Hop-On, Hop-Off). Financial terms of the transaction have not been disclosed.
Headquartered in Stockholm, Touristry is a market leading operator of sightseeing buses and boats in the Nordic capitals as well as provider of tourism related services. The Company operates brands such as Red Buses and Red Sightseeing, and provides services to over 1.3 million tourists per year.
“We are very excited to partner with Micha and the
Venture capital company Rand Capital Corporation has closed on the sale of its largest portfolio holding, Gemcor II.
Rand had previously announced on 5 January, 2016, that it entered into an asset purchase agreement under which it had agreed to the sale of Gemcor.
Gross proceeds to Rand, which owned 31.25 per cent of Gemcor, are expected to be USD15.2 million. Net proceeds to Rand, after deducting taxes and expenses associated with the transaction, are expected to be approximately USD10 million.
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