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Rcapital, the owner of global travel retailer Rolling Luggage, has completed the sale of the business to Samsonite, the world’s largest luggage manufacturer and retailer.
Rcapital, the London-based private investor that specialises in the turnaround of distressed businesses, rescued the Rolling Luggage chain out of the global restructuring of the Tie Rack Retail Group in 2013. Rolling Luggage, with 36 stores in seven countries, had long suffered from both financial and operational under-investment until Rcapital bought the business and used its extensive turnaround skills to develop a thriving retail company, ultimately saving 350 jobs across the globe.
In October 2014,
UK Business Secretary Vince Cable has announced a new investment of GBP60m by the UK Green Investment Bank (GIB) and the Strathclyde Pension Fund (SPF) in UK community-scale renewable energy projects, through Albion Community Power (ACP).
ACP is a power generation company that builds, controls and operates community-scale renewable energy projects across the UK. It has already identified a substantial project pipeline and will invest the capital on behalf of GIB and SPF.
GIB has committed to provide up to GBP50m with SPF investing a further GBP10m. ACP is working to attract a further GBP40m from additional co-investors to take
Kirkland & Ellis has advised EMR Capital, a specialist mining private equity manager, on the recent close of the EMR Capital Resources Fund 1.
The fund was oversubscribed and closed with aggregate capital commitments of USUSD450 million. The fund, which will make investments in global metals and mining companies and projects, accepted commitments from a broad mix of global institutional investors, including endowments, foundations, family offices and fund of funds.
The Kirkland team acted as international legal counsel to EMR Capital and was led by London-based private funds partner Christopher Braunack and New York-based tax partner David Grenker.
Kirkland has
Recent research by the Institutional Limited Partners Association (ILPA) has highlighted growing discontent with the implementation of the Alternative Investment Fund Managers Directive (AIFMD) within the European Union (EU). Though the legislation set out to enhance oversight and standardise regulation across the EU, a significant majority of Europe-based investors feel they have been directly disadvantaged as a result, citing reduced international competitiveness as a key concern. In November 2014, Preqin conducted similar research, surveying 260 private equity and venture capital fund managers; 27% of respondents believed regulation to be the biggest challenge they face in 2015.
Preqin’s Fund Manager Profiles
Private equity and infrastructure firm First Reserve has appointed Alex T Krueger as Co-Chief Executive Officer and President. The move is part of the firm's long-term succession plan.
William E Macaulay, Chairman and now Co-CEO of First Reserve, remains fully dedicated to First Reserve's activities as he has since its founding in 1983. The move marks the next milestone in First Reserve's evolution after over three decades of exclusive energy industry investment.
Krueger has been with First Reserve for 16 years, most recently in a leadership role for the private equity portfolio which currently has nearly US$17 billion in
Crescent Capital Group’s European Specialty Lending strategy has completed a unitranche financing to support the refinancing and recapitalisation of Interfloor Group Ltd.
Interfloor, majority-owned by Milestone Capital Partners LLP, also refinanced the mezzanine facility provided by Hutton Collins Partners LLP, which remains a minority shareholder.
This financing is consistent with Crescent’s longstanding commitment to providing access to capital for middle market companies in Europe as well as the US.
“We are pleased to have completed this unitranche refinancing with Milestone Capital in support of the continued growth of Interfloor,” says Christine Vanden Beukel, Managing Director and head of Crescent’s European
Rainbow Medical has raised USD25 million from investors in China and opened a China office to promote strategic collaborations.
“We opened the office in Shanghai to capitalise on China’s fast-growing market for our products and to foster collaborations with Chinese medical device companies,” says Efi Cohen-Arazi, Co-founder and CEO of Rainbow Medical. “These investments by leading Chinese industrial and financial entities are an expression of the high esteem with which they view our technologies and the products we are developing. There is a strong demand in the fast-growing Chinese healthcare industry for Rainbow Medical’s breakthrough technologies.”
Participants in the current
The Riverside Company has invested in German cycling e-commerce specialist Bike24, which offers bicycle components and related equipment to consumers across Europe and around the world.
Bike24 has a leading position in the German market, with a recognised brand, great reputation in the bicycle enthusiast segment, huge product offering and excellent customer support. Their easily navigated website is available in German and English and offers more than 50,000 items from more than 600 different brands.
Bike24 focuses heavily on bicycle components and meeting the needs of riding enthusiasts. An experienced customer service team of 20 bicycle experts supports customers and
Commercial and regulatory pressures mean that now is the right time for private equity investors to expand their involvement in the shipping services and technology sector, according to Moore Stephens.
Dr Adam Kent of London-based consultant Maritime Strategies International (MSI) told the recent Moore Stephens Opportunities in Shipping Services seminar in London that private equity should be looking to invest in multi-faceted companies with a good reputation, pricing power and specialist products. “Opportunities are to be found,” he says. “It’s a question of timing.”
Meanwhile, Alison Jarabo of maritime efficiency specialist Fathom Shipping told private equity investors at the
AlixPartners is to acquire the business and assets of Zolfo Cooper Europe, a provider of business advisory solutions spanning the entire corporate lifecycle including restructuring services, pensions advisory, forensic and litigation support, debt advisory and corporate finance to both companies and their stakeholders.
Fred Crawford, CEO of AlixPartners, says: “Combining with Zolfo Cooper Europe will enable AlixPartners to better serve our UK, European, and global clients from an expanded position of strength and further reinforces our position as the pre-eminent global turnaround and restructuring group. The team at Zolfo Cooper Europe is well known and highly regarded and, along with
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