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LBO France is in exclusive negotiations with Equistone Partners for the sale of Averys, a European producer of storage systems, racks and metallic furniture.
The transaction remains subject to necessary consultations and approvals and could be finalised in the coming months.
In 2013, under the impulsion of LBO France, Averys completed a transformational build-up with the acquisition of Stow, a leader in static racks and storage systems with a major production facility in Belgium. In additional to their similar activities, Averys and Stow presented important geographic complementarities. Through this major acquisition, Averys doubled in size becoming the 2nd largest
Karl McEneff is to step back from day to day executive responsibilities at SuMi TRUST Global Asset Services but will remain within the organisation taking up the role of Chairman and non-Executive Director of SuMi TRUST Ireland with effect from 01 March 2015.
The new CEO will be Hiromitsu Tanaka, who brings with him a wealth of experience and knowledge developed over many years having played a prominent role within Sumitomo Mitsui Trust Bank focused on the Group's global and domestic asset servicing activities. Tanaka previously spent significant time in New York as CEO of the global custody business,
Ray Iler, former regional leader of Deloitte's hedge fund practice on the West Coast, has joined the Financial Services Organization's Wealth & Asset Management practice of Ernst & Young.
Iler, who also served as the lead of Deloitte's Emerging Manager Platform, will provide professional services to EY's hedge fund, private equity and venture capital clients. Iler was also the audit lead for Deloitte's Growth Enterprise Services team in San Francisco.
"We are extremely pleased to welcome Ray to EY as he is a highly-respected leader in the asset management industry," says Mike Serota, a Partner with Ernst & Young LLP
Law firm Noerr has advised the Swiss Evatec AG on the purchase of the Advanced Technologies Segment of the Oerlikon Group regarding the German aspects of the transaction.
Evatec AG’s activities include the production of plants for the manufacture of LEDs, lasers, power chips and high-performance optical, optoelectronic and semiconductor components as well as the worldwide distribution of these. In its Advanced Technologies Segment, the Oerlikon Group has developed also thin film production procedures for semiconductors and nanotechnology.
By purchasing the Advanced Technologies Segment from Oerlikon, Evatec AG intends to further expand its semiconductor and nanotechnology business segment. This acquisition
Private equity firm Norwest Equity Partners (NEP) has made an investment in Old Hickory Smokehouse, a producer of branded and private label food and beverage products.
NEP’s investment was made in partnership with Wayne Wolf, Old Hickory CEO. The transaction closed on 20 February, 2015. Financial terms have not been disclosed.
This investment is demonstrative of NEP’s investment partnership model which is focused on partnering with business owners and their management teams to build strong, growing companies into even greater industry leaders.
Todd Solow, a NEP partner and Old Hickory board member, says: “Our firm has been actively seeking investments
AXA has launched AXA Strategic Ventures, a EUR200 million venture capital fund dedicated to emerging strategic innovations in insurance, asset management, financial technology and healthcare services.
AXA Strategic Ventures will have on-the-ground coverage of investment opportunities worldwide. In the US, AXA Strategic Ventures will have offices in San Francisco and New York.
“AXA will share its global reach and expertise to serve as an accelerator for start-up companies that bring new, customer-focused ideas to insurance and financial services,” says Anders Malmstrom, chief financial officer of AXA US and a member of the Strategy Committee of AXA Strategic Ventures. “We will
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a USD27 million senior credit facility to provide growth capital to The Sandbox Group (Sandbox).
Headquartered in Chicago, Illinois, The Sandbox Group, has embarked upon building an international agency group to meet an identified gap in its industry. Sandbox is an integrated marketing communications agency specialising in the healthcare, agriculture, and financial services industries.
At the end of 2014, Preqin conducted surveys with hedge fund managers, investors and alternatives investment consultants around the world to ascertain their views on the hedge fund industry over the past year and their outlook for the year ahead. Selina Sy looks at the upcoming trends and developments these industry professionals have identified for hedge funds in 2015.
Institutional investor capital will continue to flow into the hedge fund industry in 2015
Hedge fund managers forecast that industry assets under management (AUM) are set to increase this year, and surpass the figure of $3.02tn reported in December 2014. Indeed,
Online investment platform MicroVentures has created a "500 Startups Fund" open to accredited investors.
The Fund provides investors access to startups fostered by the well-known, Mountain View based, accelerator by way of a unique position in three 500 Startups' Funds for as little as USD10,000. Investors not utilising the MicroVentures' platform would need to invest at least USD400,000 to create a similar diversified portfolio.
As of January 2015, MicroVentures and its 25,000 global investors have deployed over USD60MM to approximately 100 companies. With offices in Austin, TX and San Francisco, CA, the FINRA registered platform provides exclusive access to curated
LeapFrog Investments has invested USD25 million in fintech company AFB Mauritius Ltd (afb).
Partnering with major mobile operators and over 400 retailers including Woolworths and Naivas, afb has extended its reach to over a million people in sub-Saharan Africa. afb currently has operations in four countries, including Kenya, Zambia and Ghana with rapid expansion into adjacent geographies planned. afb also offers branded store cards for the English Premier League giants Manchester United and Chelsea.
Across Sub-Saharan Africa, consumer finance from formal banking channels is almost non-existent: Insurance is massively underpenetrated, and can be as low as 1% of the
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