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Audax Group has partnered with management to acquire Techniks Industries, a leading provider of industrial cutting tools and tool holders in North America, from Tenex Capital Management, a private equity firm based in New York.
Techniks Industries was formed by the merger of NAP Gladu and Techniks in 2012. NAP Gladu manufacturers and services wood and metal cutting tools used in building materials and industrial end markets, and Techniks supplies tool holding and work holding products used in CNC machine applications for general industrial end markets.
“Techniks Industries is a recognised market leader in the fragmented cutting tools and
Private equity firm Parthenon Capital Partners is to invest in Millennium Trust Company, a provider of technology-enabled asset custody solutions for institutions, advisors, and individuals.
“We welcome Parthenon’s investment and expertise as we look to accelerate Millennium Trust’s growth and strengthen our position as a leading provider of technology-enabled custody and administrative solutions,” says Scott McCartan, Chief Executive Officer of Millennium Trust.
Gary Anetsberger, Chief Operating Officer of Millennium Trust, says: “Millennium Trust will continue to provide world-class service to clients across our three core product areas. We look forward to working closely with Parthenon to leverage their expertise
Law firm and regulated sponsor Howard Kennedy has opened the 2015/16 VCT season advising Octopus Titan VCT on the launch of its GBP50m prospectus – the first VCT prospectus launched this tax year.
Octopus Titan VCT is the largest Venture Capital Trust in the market, and was named ‘Best VCT’ at the 2015 annual What Investment Awards. Octopus is a leader in early-stage investment, with over GBP5bn in assets under management and more than 400 staff.
Partner and Head of Capital Markets Keith Lassman (pictured) and partner Stephen Heinemann led the Howard Kennedy team advising Octopus Titan VCT. Howard Kennedy is
Inflexion Private Equity has completed the IPO of On the Beach Group, the UK short-haul packaged beach holiday provider, generating a total realised and unrealised return of 3.6x with an IRR of 84 per cent, within just 23 months of ownership.
The flotation of On the Beach has priced on the London Stock Exchange, with a market capitalisation of GBP240 million.
On the Beach operates a market leading technology platform, developed in a highly agile environment with constant innovation and personalisation to deliver a rich customer experience. Inflexion’s buyout in October 2013 helped On the Beach exploit the structural
Africa private equity specialist Development Partners International (DPI) continues to grow, having moved to larger offices last December to accommodate the firm’s 24 staff after doubling in size in the past two years alone.
The firm has also entered their heartland Africa, with an office opening in Lagos, Nigeria, last December, their first on the continent, headed by Idris Mohammed, a long-standing Partner with DPI.
DPI has also expanded its team with three senior appointments year to date alone: Marc Stoneham, who joined the firm as Portfolio Manager from McKinsey where he worked as Engagement Manager responsible for Africa;
European private equity firm Cinven is to sell UK life assurance consolidation business Guardian Financial Services to Admin Re, Swiss Re's unit active in the closed life book business, for a total consideration of GBP1.6 billion.
Under Cinven's ownership, Guardian has become one of the most active life insurance consolidators in the UK and Irish markets and the UK's largest privately owned life insurance company. Today Guardian has GBP20 billion of assets under management and manages 900,000 policies.
Cinven's Financial Services team identified closed life books as an attractive consolidation opportunity in 2010 and Guardian as a highly attractive
Middle market private equity firm Calera Capital has appointed Paul F Walsh (pictured) has joined the firm as a Senior Managing Director.
For the past seven years, Walsh has acted as an Operating Partner for Calera Capital, serving in various operating and managerial roles for the firm’s portfolio companies.
“Paul’s experience and capabilities have allowed him to bring tremendous value to our portfolio companies,” said Jim Farrell, Managing Partner of Calera Capital.
“Calera’s strategy is to partner with founders and management teams and to help them take their businesses to the next level. Paul has proven to be
Ogier has appointed Bryon Rees as a partner in its unds and corporate practice in Guernsey.
Rees joined Ogier in 2005 and has a broad practice, although with a focus on investment fund, corporate, regulatory and finance related work.
Rees is a Guernsey advocate, South African attorney and English solicitor. Legal directories describe him as technically excellent with great communication skills.
Ogier partner Marcus Leese says: “Bryon Rees has played a central role in our investment fund practice in Guernsey, supporting its early growth and more recent development alongside partners William Simpson and Frances Watson. Bryon has particular
KKR is to back Roland Wessel, Colin Judd and Melvyn Horgan, founders and former management team of Star Energy, to launch Trans European Oil & Gas Limited.
Trans European Oil & Gas intends to build a portfolio of conventional onshore oil and gas properties in proven hydrocarbon plays in Europe, and apply its extensive experience in enhanced oil recovery (EOR) techniques to optimise production.
Established in 1999, Star Energy made several acquisitions of producing assets and successfully applied EOR techniques. Star Energy grew to encompass 25 producing oil and gas fields and a commissioned 10 bcf gas storage facility.
Private equity and venture capital firm Insight Venture Partners has appointed Donna O Smolens (pictured) as a Senior Advisor. Smolens will work with Insight to enhance the firm's investor relations function, bringing the perspective of a long-time limited partner in private equity funds.
"We have known Donna for many years as a limited partner and proactive member of Insight's LP Advisory Boards, and we are thrilled that she has joined our team," says Jeff Horing, Managing Director at Insight Venture Partners. "She has extensive experience in private equity investor relations, due diligence and fund management and she will bring a broader
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