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Mill City Capital has completed an investment in a newly formed company, Command Fishing and Pipe Recovery Ltd (CFPR).
CFPR was formed through the combination of Hess Fishing & Pipe Recovery, a division of Mill City’s existing portfolio company, Bonnett’s Energy Corp (Bonnett’s), and Command Fishing Services Inc The transaction was led by Pat Powell, former Chairman of Bonnett’s and an experienced entrepreneur, who will serve as Chairman and CEO of the Company. Existing operating teams from both companies remain in place led by Jeff Schryver, who was named President of CFPR.
CFPR is a leading independent oilfield service business
Livingstone’s Consumer sector team has advised the management team of luxury holiday firm Scott Dunn on the acquisition of a majority holding in the business by private equity investor Inflexion.
Founded in 1986 by Andrew Dunn, Scott Dunn is recognised as a premium brand within the sector. It was voted the number one specialist tour operator by the readers of Condé Nast Traveller in 2014. The company operates within the luxury travel market, which has grown by more than 12% over the last three years, as demand from affluent customers in the UK and overseas has increased.
Simon Russell, CEO
European private equity firm Cinven has completed the acquisition of Northgate Public Services (NPS), a provider of software, outsourcing and IT services to local government and public sector organisations.
Terms of the deal have not been disclosed.
NPS provides software and related services to UK public sector markets including Local Government, Government Agencies, Public Safety, Housing and Healthcare. Its software and services are used by over 400 UK local authorities, all UK police forces, social housing providers in the UK and internationally, and NHS hospitals. Its IT projects support the sharing of information for criminal intelligence and investigations across
Riviera Travel has secured an investment from Phoenix Equity Partners ("Phoenix"), a UK-based middle-market private equity firm. Terms of the transaction have not been disclosed.
Riviera, founded in 1984, will be led by David Clemson who joined the business in 2008 and continues as Managing Director. Michael Wright, the founder of Riviera, will remain with the business as a non-executive director and as a significant shareholder.
Headquartered in Burton-upon-Trent, Riviera has grown impressively over the past few years, where it has delivered turnover growth of over 20% per annum. In 2014, Riviera carried over 115,000 passengers.
Riviera operates in the
The Angel CoFund has made a GBP250,000 investment into OwnFone, bringing the personalised phone company’s funding round to GBP786,000.
The Angel CoFund’s 50th investment sees is fund co-invest with the London Business Angels, Renaissance Capital Partners and mobile expert Nigel Litchfield, who also joins the OwnFone Board.
Launched in November 2011, the Angel CoFund invests alongside syndicates of business angels, and has already invested over GBP22m alongside more than GBP90m from business angels and other investors, making it the most active early stage fund in the country. OwnFone is the 50th business to be backed by the CoFund, which has
Ariadne Capital, which invests in digital technology start-ups, has just closed a GBP500,000 funding round for Taggstar making it the 8th company in its portfolio and its 4th deal in 2014.
Taggstar is also backed by Sir Stuart Rose, Rob Hersov, and Nigel Taee.
Taggstar is designed to allos shoppers to benefit from social trends by seeing how many others are buying a particular product at the same time as they shop, highlighting when it's selling fast, giving them confidence to purchase.
Taggstar will continue its rapid expansion with retailers and travel sites. Over the past year, Taggstar has worked
Technology Crossover Ventures (TCV) has promoted Ted Coons and Daniel O’Keefe from principals to general partners, while Sean Giese has been promoted from vice president to principal.
Coons and O’Keefe are based in the New York TCV office. Giese is located in TCV’s Palo Alto headquarters. The moves expand on TCV’s commitment to growing teams of world-class technology investment professionals in its New York and Palo Alto offices.
Jay Hoag, TCV founding general partner, says: “Ted, Dan and Sean have been instrumental in contributing to the growth and success of our portfolio companies. We are thrilled to see these three
Mooreland Partners has acted as the exclusive financial advisor to AdKarma LLC on its sale to blinkx.
The acquisition of AdKarma, a rapidly growing video supply side platform located in Columbia, Missouri, marks the 19th transaction advised by Mooreland Partners this year. The transaction further solidifies Mooreland Partners' position among the most active advisors to the digital media sector.
"blinkx stands to benefit from AdKarma's strong relationships with over 300 publishers representing in excess of 20,000 websites," says Peg Jackson, Managing Director, Mooreland Partners. "This acquisition will significantly bolster blinkx's position within the programmatic segment of the digital video advertising
Private equity firm Agilitas has acquired Financiere Ionisos SAS (Ionisos), one of Europe’s leading providers of cold sterilisation services, from Naxicap Partners, for an undisclosed consideration.
Ionisos is the leading provider of cold sterilisation services in France and Spain. It is the only company licensed in France to offer all three cold sterilisation technologies: gamma irradiation, beta irradiation and Ethylene Oxide. Its services are used by multinational and local companies for the sterilisation of single-use products. These include medical devices, pharmaceutical, food and pharma packaging and cosmetics products. The business has annual revenues exceeding EUR20 million.
Since 2007, AtriA
Private equity firm Levine Leichtman Capital Partners (LLCP) has completed a recapitalisation of Levine Leichtman Capital Partners IV portfolio company Global Franchise Group (GFG).
"We are pleased to have completed this divided recapitalisation for GFG, which provided working capital and paid a shareholder dividend," says Arthur Levine, president of Levine Leichtman Capital Partners.
Levine says: "This is the second time in the last two years GFG was able to recapitalize its balance sheet, demonstrating the company's superior financial performance, cash generating ability and strong base of franchise brands."
Recapitalization by private equity groups such as LLCP is a common practice.
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