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Formaplex is investing GBP3 million over the next year, to further increase capacity with a new 100,000 sq ft factory, expand its current manufacturing facilities and invest in new manufacturing technology.
The support of its private equity backer Dunedin has allowed Formaplex to invest a total of GBP14 million in new facilities and equipment over the last five years.
Formaplex is a Portsmouth based UK engineering company which designs and manufactures tooling and lightweight components for the automotive, aerospace, defence and motor sports markets.
Dunedin, the UK mid-market private equity house backed the management buyout of Formaplex in December
Lending Works, the first peer-to-peer lender to have insurance against borrower default risk, is introducing several new features aimed at the UK pensions market, as new pension rule changes come into effect in April 2015.
More than 52% of Lending Works’ lenders are aged 55 or older, indicating a growing inclination among later-life lenders to make peer-to-peer lending a common feature of their retirement finance plans.
From early April 2015, Lending Works will offer four brand new features that make peer-to-peer lending even more appealing to pensioners who take control of their pensions and look for simple, personal, high-interest
TerraVerde Renewable Partners, a solar and energy advisory firm, has appointed Dan Rosenberg as Director of Solar Asset Management.
TerraVerde helps schools, public agencies and private companies manage their energy portfolios. TerraVerde's advisory services cover the full range of the project life cycle, including project development, management of operational projects, PPA buyout analysis and financial reporting. TerraVerde provides technical advice and performance reporting services to ensure that energy cost saving goals are achieved throughout the generation facility's economic useful life. In addition, TerraVerde provides ongoing O&M and inspection services to protect its clients' investments.
TerraVerde Executive Vice President Ali Chehrehsaz,
Private equity firm NGP Energy Capital Management (NGP), has appointed Jeffrey A Zlotky as General Counsel effective immediately.
Zlotky joins NGP from Thompson & Knight LLP, a global law firm with deep expertise in the energy industry, where he was a partner in their Corporate and Securities practice group, with an emphasis on energy finance and private equity. Zlotky has extensive experience in the structuring and organisation of private equity funds on behalf of sponsors and investors, the investment activities of such private equity funds, and mergers and acquisitions.
Managing Partner Tony Weber says: “We are delighted to welcome Jeff
Inspired Capital has secured an additional GBP25 million debt facility through British Business Bank Investments Limited, the commercial arm of the UK Government's economic development bank.
The funding will be provided as a three year syndicated back-to-back facility with Lloyds bank, increasing the total facilities for Inspired's invoice finance business to GBP75 million. The new facility is provided on the same commercial terms as, and will rank pari passu with, the Lloyds facility.
The new facility will be utilised to fund the Group's growing invoice finance business.
Brian Cole, Chief Executive Officer of Inspired Capital plc, says: "We are delighted
Investec Wealth & Investment (IW&I) has raised its allocation to alternative investments, specifically hedge funds, absolute return funds and defensive structured products, in a bid to ensure a balanced portfolio.
IW&I believes less correlated investments will provide a greater opportunity for outperformance over the next 18 months.
IW&I’s Asset Allocation Committee (AAC) has recommended raising the allocation to alternatives by 2%, at the same time as decreasing exposure to index-linked gilts and cash by 1% each. The switch was driven by the belief that these alternative investments can be sensible options for reducing portfolio volatility when the more conventional
The Scottish Loan Fund (SLF) is pleased to announce that it has committed GBP0.7 million of funding to the event services and management business, ExecSpace, to support its businesses growth strategy.
The investment will provide a significant boost to the business as it looks to widen its geographic reach into London and capitalise on the strong sector dynamics and positive economic indicators which reflect ongoing growth in that market. Founded in 2008 by Emma Little, ExecSpace is a specialist event and accommodation booking agent for over 200 organisations across the UK, including Grant Thornton, Aggreko, Aegon and Nucleus, and has
JPMorgan Chase has awarded a USD1 million grant to VEDC to boost the organisation’s infrastructure as they expand their outreach to small businesses in eight states.
JPMorgan Chase has been a longtime supporter of VEDC as they strive to meet the capital needs of small businesses in underserved communities.
The USD1 million grant will help VEDC as they expand their small business loan programs across eight states to bring small business owners the access to capital so desperately needed to create new jobs. In addition, VEDC has expanded lending in Bakersfield, and is in the process of completing two studies
Remitly has closed a USD12.5 million Series B funding round led by DFJ with participation from DN Capital and existing investors QED Investors and Trilogy Equity Partners.
DFJ partner William Bryant will join Remitly’s board of directors. Remitly will use the new capital to expand its team, scale marketing efforts, and broaden the service to include new countries.
While the global economy becomes more integrated through technology, international money transfers remain antiquated. There are more than 200 million people who live abroad and send money home. These customers use remittance services that are often riddled with high and hidden fees,
Audax Group has partnered with management to acquire AllOver Media (AOM) from the firm’s independent owners.
Headquartered in Minneapolis, Minnesota AOM operates an alternative out-of-home (AOOH) advertising platform in the US with a diverse set of advertising mediums at high-traffic indoor and outdoor locations. Founded in 2002, AOM’s core products are found at convenience stores and gas stations, on truck sides, and at a variety of indoor locations, including restaurants, shopping centres, and sports arenas.
Geoffrey S Rehnert, Co-CEO of Audax Group, says: “AllOver Media is a leading alternative out-of-home media company with an unparalleled reputation for providing innovative advertising
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