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Perella Weinberg Partners (PWP) has formed a strategic advisory board which will provide the firm’s management team with strategic advice on key industry and business-related matters.
The seven initial members of the Advisory Board are: Walter Isaacson, Aspen Institute President and CEO; Jorma Ollila, former Royal Dutch Shell Chairman; Robert Pozen, former Fidelity Investments Vice Chairman; Ivan Seidenberg, former Verizon Communications Inc. Chairman and CEO; Jane Sherburne, former Senior Executive Vice President and General Counsel for BNY Mellon; Daniel Yergin, IHS Vice Chairman; and Robert K Steel, PWP CEO.
“As we approach the next ten years of the firm’s
Community Intervention Services (CIS), a portfolio company of HIG Growth Partners, has completed the acquisition of Northstar Psychological Services (NPS).
CIS was established by HIG in partnership with behavioural healthcare executive Kevin Sheehan, to acquire, develop and operate a national network of specialised behavioural health treatment facilities and programs. NPS marks CIS's seventh acquisition and further expands the Company’s geographic footprint into Georgia.
Headquartered in Alpharetta, GA, NPS was founded in 2000 and has since grown into a leading provider of community-based behavioural health services to individuals and families across Georgia. Over its 15-year operating history NPS has developed
Middle marker private equity firm Wynnchurch Capital has sold Wolverine Advanced Materials to ITT Corporation for approximately USD300 million. Wynnchurch generated a return of approximately 4.0x multiple of invested capital on its investment in Wolverine.
Headquartered in Dearborn, Michigan, Wolverine is a global leader in developing and manufacturing proprietary products for automotive braking systems and highly engineered sealing solutions for harsh operating environments across a range of industries. Over the past 80 years, Wolverine has built a reputation for quality, innovation and thought leadership in material sciences. Through customer-focused innovation, Wolverine developed the largest portfolio of specialty elastomer material constructions
The Royal Bank of Scotland (RBS) and Investec Bank have closed the syndication for a GBP400 million senior secured acquisition facility, which funded the purchase of a portfolio of UK solar projects owned by funds managed by Octopus Investments (Octopus).
The portfolio consists of 74 operational, UK-based ground mounted solar projects that Octopus acquired from Lightsource Renewable Energy Ltd, the project developer.
Diversified across the south east and west of the United Kingdom, the solar projects attract 20 year fixed income tariffs under the UK Government’s Renewables Obligation (RO) subsidy regime and the 522MWp portfolio generates enough green energy
Mid-market private equity firm LDC has exited its minority investment in global managed service provider Easynet following completion of its acquisition by Interoute.
LDC backed the original buyout of Easynet from BskyB in 2010, working alongside management to build the UK’s leading independent provider of managed networking, hosting and cloud integration services.
It reinvested as part of Equistone Partners Europe’s simultaneous acquisition of Easynet and MDNX Group in 2013, a deal which created the largest independent network and hosting integrator in Europe.
The sale to Interoute delivers a money multiple of 2.2x for LDC.
In the last
Law firm Noerr has advised Zalando on the takeover of the Berlin fashion fair Bread & Butter. Zalando is acquiring the operating company of the trade fair under an insolvency plan procedure.
The creditors have unanimously approved the insolvency plan today, and the insolvency proceedings are expected to be terminated soon.
In December of last year, Bread & Butter filed for insolvency, and Christian Graf Brockdorff was appointed as insolvency administrator.
Arma Partners has acted as exclusive financial advisor to IRIS Software Group Limited on its recapitalisation by HgCapital at an enterprise valuation of GBP763 million.
HgCapital has been an investor in IRIS Software since acquiring the business for GBP102 million in 2004 and a majority owner for seven of the past eleven years.
With 35 years’ experience, IRIS Software is a leading provider of business critical software and services to the UK accountancy and SME sectors. Over 18,000 UK accountancy firms use IRIS Software every day to run their practices, with 7,000 consuming at least one cloud solution
Law firm Shoosmiths has advised private equity firm Oakfield Capital Partners (Oakfield) on an investment in The Gainsborough Silk Weaving Co Ltd (Gainsborough)
The new investment will allow the company to capitalise on its rich heritage of fabric designs and boost its sales and marketing efforts around the world.
Shoosmiths’ partner Alastair Peet and associate Gareth Cook advised Oakfield on all corporate aspects while Tax partner Tom Wilde provided specialist EIS tax advice.
Michael Patton (pictured) of Oakfield, who has joined the board of the Gainsborough, says: ‘We believe that this unique, British business has the potential to
A fund managed by Impax Asset Management is selling a portfolio of wind assets in France and Germany to ERG Renew, the renewable energy subsidiary of the Italian multi-energy company ERG Group.
The sale of the portfolio, which portfolio consists of 11 French and six German wind farms, is part of Impax’s planned realisation of the operating assets in accordance with its fund’s strategy. Impax has grown the portfolio by acquisitions from 2010 to 2014. The majority of the projects were constructed under the ownership of the fund. The fund continues to own a wind project development business in France
The private debt industry in Asia has already seen fundraising growth within the distressed debt and mezzanine segments in so far in 2015 compared to 2014. However, the industry in Asia is still far less established than in North America and Europe. Special situations funds have continued to see strong fundraising in the region, and the strategy is likely to once again be the most attractive avenue for exposure to Asian private credit.
Given the moderate fundraising for Asia-focused funds, dry powder levels have remained relatively stable, with USD6 billion in available capital. Mount Kellet Captial Management has held a
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