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Law firm Proskauer has represented longtime client Icahn Enterprises in its tender offer to acquire The Pep Boys – Manny, Moe and Jack in an all-cash transaction for USD18.50 per share, or approximately USD1.031 billion in aggregate equity value.
The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the first quarter of 2016.
Icahn Enterprises, a master limited partnership, is a diversified holding company with 10 primary business segments: investment, automotive, energy, metals, railcar, gaming, mining, food packaging, real estate and home fashion.
Pep Boys, one of
HIG Capital (HIG) has completed the sale of its portfolio company, Infogix to an affiliate of Thoma Bravo, a private equity firm focused on investing in software and technology-enabled businesses.
Infogix, headquartered in Naperville, IL, is a provider of data analytics and integrity solutions to Fortune 1000 companies primarily in the healthcare, financial services, insurance, and media/communications industries. The Company’s software is an integral component of the daily operations of its customers by providing benefits including improved operating efficiency, data integrity, increased profitability, and accelerated revenue growth. The Company’s solutions uniquely enable customers to automate the process of capturing and
Africa focused Private Equity firm, 54 Capital Ltd, has invested USD42 million into Addis Pharmaceutical Factory (APF), an Ethiopian pharmaceutical manufacturer.
An initial investment of USD30 million, with the option to invest a further USD12 million, will be used to increase national and international reach through improved production capacity and product portfolio, and to obtain WHO certification.
The pharmaceutical sector in Ethiopia, while currently dominated by imports, is seen by the Ethiopian Government as a major sector for development, and is expected to grow at circa 15 per cent per annum over the next three years to reach a
Alternative Investment Management, (AIM), a privately-owned investment management firm has appointed Ryan Quinn as managing director, focusing on portfolio management and researching hedge fund and private equity managers and investments.
Quinn is also a member of the firm’s Investment Committee.
“We are excited to have a professional of Ryan’s caliber join our growing investment team,” says AIM Partner Jonathan Harris. “Ryan’s experience in various facets of financial services – including portfolio management and investment manager selection – will be beneficial to our investment and due diligence process. I am also confident that Ryan will make immediate and positive contributions
Akram & Associates, Certified Public Accountants, have established a presence in New York City with the opening of a new office at 347 Fifth Avenue.
Searchlight Capital Partners has held the final close of Searchlight Capital II with total committed capital of over USD1.9 billion.
Erol Uzumeri, a Founding Partner of Searchlight, says: “We are very grateful for the support of our existing and new investors from around the globe. We remain committed to creating value within our partner companies by providing thoughtful strategic direction and flexible capital. Our transatlantic platform, fully integrated team, and differentiated investment mandate allow Searchlight to capitalise on a wide range of global opportunities across multiple industries.”
Latham & Watkins LLP served as legal counsel to the Fund and
Rand Capital Corporation is to sell its 31.25 per cent holding in Gemcor II. The transaction is anticipated to close in the first quarter of 2016, subject to all customary approvals and closing conditions.
Gemcor develops and manufactures automated fastening systems used by virtually every airframe manufacturer throughout the world. Rand made its initial investment in Gemcor in 2004. Its equity cost basis is currently USD625,000 and it expects to receive gross cash proceeds of approximately USD14 million upon the completion of the Gemcor sale. At 30 September, 2015, Gemcor represented approximately 27 per cent of Rand’s total portfolio, with a fair value of
One Medical Passport has closed a USD4 million Series A investment from FCA Venture Partners, a Nashville-based venture capital firm focused on healthcare IT.
One Medical Passport’s online software is used by over two million patients and 700 medical facilities annually throughout the US and its customers include many of the top healthcare management companies. The solution enhances the involvement of patients in their own care before, during and after surgery and medical procedures and improves the communication and collaboration between patients, doctors, and medical facilities. The funds will be used to fuel the company’s aggressive growth plans as it
Appleby Fiduciary Business (AFB) has completed its management buyout backed by private equity firm Bridgepoint from the Appleby Group. With immediate effect, AFB and the Appleby law firm are now two independent businesses.
Farah Ballands, who will lead the AFB team as Chief Executive Officer, says: “AFB has grown significantly over the years with over 350 staff located across nine offshore jurisdictions. With Bridgepoint’s expertise and support we look forward to building on this success and investing in new infrastructure to give our clients an unrivalled standard of service.
“The Appleby Group has provided us with a solid foundation
Mergermarket Group has acquired Creditflux, a provider of intelligence, analysis, data and events covering CLO and credit fund pricing, investments, trading and returns.
The acquisition accelerates the global expansion of Mergermarket Group’s extensive real-time fixed income intelligence and data provision.
The company’s Debtwire and Xtract Research products already deliver insight and analytics on corporate high yield, distressed and restructuring situations.
“We are very excited to fortify the growth story of our global fixed income division with the acquisition of Creditflux, a highly regarded and trusted source of CLO and credit fund intelligence and data,” says Hamilton Matthews, (pictured)
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