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Cairngorm Capital has appointed Alex Bayliss and John Naylor-Leyland as Investment Directors, further bolstering the firm’s capacity for new investments.
Bayliss brings extensive experience of investing in mid market manufacturing and business services companies. He joins from SEA Equity where he was a founding Partner and board member of portfolio company, Vacuum Furnace Engineering. Prior to SEA Equity, Bayliss worked with Cairngorm Capital’s Managing Partner, Andrew Steel, at HIG Capital in London, where he was involved in numerous equity investments and bolt-on acquisitions.
Naylor-Leyland joins from Disruptive Capital, where he was a Partner and led the growth financing of
Scottish-based business angel syndicate, Archangels, and the Scottish Investment Bank (SIB) have supported the investment of a further GBP2m in three growing Scottish businesses in the third quarter of 2015.
The companies – NCTech, Zonefox and ATEEDA – have been supported by Archangels, along with the SIB, from early stage and their investment will be used to fund further growth. Around 50 of Archangels’ investor members chose to participate in these funding rounds.
Edinburgh-based NCTech designs and manufactures leading 360 degree reality imaging systems that automate and streamline image documentation and can be used repeatedly, accurately and consistently by
Why are co-investments becoming so prominent in the world of private equity? The performance of co-investments is analysed in this extract from the recently released Preqin Special Report: Private Equity Co-Investment Outlook, which draws upon a survey of 320 active GPs and 222 active LPs.
The most common response for perceived benefits of co-investing from an LP perspective was the prospect of better returns, so naturally investors will be anticipating a notable outperformance from co-investments compared with their traditional private equity fund commitments. As shown in Fig 1, of those LPs surveyed, 36 per cent expect co-investments to outperform
New York-based private equity firm Harvest Partners has completed the sale of AxelaCare Health Solutions to OptumRx, the pharmacy care services business of Optum. Terms of the transaction have not been disclosed.
Harvest initially invested in the company in April 2013.
AxelaCare is a provider of specialty home infusion services based in Lenexa, Kansas. The company currently treats patients in 44 states and Washington, DC through its network of owned and contracted RNs. The company offers chronic drug therapies for conditions such as autoimmune disease and haemophilia as well as acute infusion therapies, such as antibiotics and total parenteral
Audax Group has held the final close of Audax Private Equity Fund V at its hard cap of USD2.25 billion of aggregate committed capital from a select group of institutional and high-net worth limited partners.
The fund was oversubscribed and exceeded its fundraising target of USD1.75 billion.
Consistent with its predecessor private equity funds, Fund V will continue Audax’ proven strategy of investing in middle-market companies across a select group of industries and will pursue a Buy & Build strategy that seeks to transform smaller companies into strategic assets.
Since its founding in 1999, Audax has raised USD12
Intrapharm Laboratories has been acquired by German pharmaceutical company Riemser Pharma following a period of sustained growth.
Purchased by the existing management team in 2009, Intrapharm is a fast growing specialty pharmaceutical group marketing niche pharmaceutical products with a primary focus on prescription-based and selected ‘over the counter’ (OTC) products. Intrapharm has since established itself as an important supplier to both the NHS and pharmacy wholesale markets ensuring the ongoing supply of pharmaceutical products with proven therapeutic value and medical need. Current products address therapeutic areas covering Oncology, Ophthalmology, Pain, Gastrointestinal and Dermatology.
Intrapharm’s CEO Kevin James and COO
Law firm Howard Kennedy and its regulated London Stock Exchange sponsor, Howard Kennedy Corporate Services, have advised Pembroke VCT on the launch of its 2015 share offer.
Pembroke VCT, which is managed by part of Peter Duben’s Oakley Capital Group, will look to raise GBP15 million in 2015/16 and continue to invest in a diverse range of companies, with a bias towards consumer-facing businesses with either established brands or brand development opportunities.
Howard Kennedy has advised Pembroke VCT plc since its launch in 2013, when its first subscription offer raised GBP18.3 million. Since then Pembroke VCT plc has made
Investment bank Houlihan Lokey has acquired the investment banking operations of Leonardo & Co (Leonardo) in Germany, the Netherlands, and Spain and has become a minority partner in a joint venture with the management team of Leonardo, in respect of Leonardo’s investment banking operations in Italy. The transaction closed on November 16.
Leonardo is an independent financial advisory firm that provides corporate finance, financial restructuring, and other strategic advisory services to clients in a range of industries across continental Europe. With approximately 54 financial professionals including 12 Managing Directors, the business has offices in Amsterdam, Frankfurt, Madrid, Milan and Rome
AN affiliate of Private equity investment firm HIG Capital (HIG) has made a strategic investment in port logistics business Ship Supply International.
Founded in 1968 and headquartered in Miami, Florida, Ship Supply provides timely and complex last-mile delivery of critical products and maritime services to cruise, cargo and military marine vessels. Through its asset-light business model, the Company has created a highly-scalable platform that executes on critical customer requirements in over 100 domestic and international ports.
“We are very excited about Ship Supply’s next phase of growth and to partner with HIG,” says Christian Giannakopoulos, President of Ship Supply.
Aethon Energy Management, a Dallas-based private investment firm focused on onshore oil & gas, has held the final closing of its second energy private equity fund, Aethon II LP.
Together with co-investments, Aethon's recent fundraising represents USD240 million in total capital commitments.
Aethon's recent activity exceeded the USD200 million target that the Company established at the outset of fundraising, and the fund received commitments from both new and existing institutional investors. The fund enabled Aethon's management to continue its strategy of acquiring and developing onshore oil and gas assets that provide attractive, asymmetric returns. Concurrent with this final closing
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