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Shanghai-based QuanCheng has raised tens of millions of US Dollars in a Series B financing round led by Eight Roads along with participation from ClearVue Partners and Arbor Ventures.
Eight Roads, the proprietary investment arm of Fidelity International, has an 18-year track record of investing in the Asia-Pacific region, and was one of the first investors in Alibaba. Arbor Ventures is an early-stage venture capital firm focused on the intersection of financial technology, big data and digital commerce, with an affinity for end markets in Asia, while ClearVue Partners was the lead investor in QuanCheng’s Series A financing round.
Private equity and investment advisory firm CVC Capital Partners (CVC) has hired Thomas J Kichler as a Partner and Head of Industrials and Energy in the United States.
Kichler joins CVC from One Equity Partners (OEP), where he was a Partner and Managing Director. He has over 13 years of experience in the private equity industry, and a proven track record in numerous transactions across the industrials and energy sector. In his previous role, Tom was the lead partner of many deals including LBC Tank Terminals, Progress Rail, OCI, Columbian Chemicals, Sonneborn Refined Products, Polarcus, PeroxyChem and East Balt. Prior
Private equity investment firm Bunker Hill Capital has sold its portfolio company, California Family Fitness (CFF) to Perpetual Capital Partners, a private investment firm based in Washington, DC.
Headquartered in Orangevale, California, CFF is an owner and operator of fitness centres in the greater Sacramento, California area. CFF currently has 19 mid-to-large format club locations, each of which offers a selection of modern exercise equipment, swimming pools and basketball/racquetball courts as well as member services such as fitness class instruction, child care, tanning, sauna and steam rooms, and organised sports leagues.
Rufus Clark, a Managing Partner of Bunker Hill
Audax Private Equity has partnered with management to acquire Source Refrigeration & HVAC (Source) from Arsenal Capital Partners. Terms of the transaction have not been disclosed.
Source, headquartered in Anaheim, CA, is a leading independent provider of commercial refrigeration and HVAC services in North America, serving the nation’s top food retailers, convenience store chains, telecommunication providers, and industrial companies. Through its national network of technicians and service locations, Source provides mission-critical design, installation, environmental and energy optimisation, and maintenance services.
Geoffrey S Rehnert, Co-CEO of Audax Group, says: “Source is a recognized leader in the fragmented refrigeration services market.
Park Vale Capital has committed to invest GBP16 million in clean cold and power technology company Dearman, bringing total funds raised by the firm during 2015 to GBP19.5 million (excluding grant funding).
The funding will enable Dearman to establish initial UK-based manufacturing activity, and to boost international commercial deployment, while continuing to invest in R&D and demonstration of its core technology and subsequent applications.
Park Vale will work in partnership with Dearman, helping it to establish new markets for its technology, identify opportunities for growth and realise them.
Discussing the announcement, Katherine Priestley, Managing Director of Park Vale,
Baird has named Steve Booth as Chief Executive Officer (CEO) effective 1 January, 2016. Booth adds the CEO title to his existing role as President.
Baird succeeds Paul Purcell, who will continue as Chairman of the employee-owned financial services firm.
Purcell and Booth both joined Baird in 1994. Booth previously led Baird’s Investment Banking team and served as co-head of the firm’s Equity Capital Markets business since 2006. Purcell was named President of Baird in 1998, added the title of CEO in 2000 and also became Chairman in 2006. Under Purcell’s leadership, Baird once again became an employee-owned, independent firm following
Yann Ranchere (pictured), Partner at Anthemis, discusses why 2016 could see game changing challengers enter the banking sector…
2016 will see a strong competition in the core banking space. In Europe especially, a crop of new banks and alternative banks will push strongly in the market. European digital banks such as Fidor are expanding beyond their core market. The UK regulator’s push to lower the barrier to entry to become a bank will come to reality with Atom Bank and Tandem establishing themselves.
Alternative solutions based on prepaid born in various European countries are also expanding beyond borders, with
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
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