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Private equity firm SL Capital Partners is bolstering its distribution team with two senior hires, Robert Kellermann and Alan Coffey, who will be responsible for investor solutions across the UK and continental Europe.
In his new role, Kellermann will lead SL Capital’s efforts in the German, Austrian and Swiss regions as head of DACH.
Kellermann has an extensive knowledge and network in the region having joined SL Capital from Feri Trust Germany, where he was head of institutional clients, and prior to this with Pioneer Investments KAG Munich, where he was head of consultant relations for Germany and Switzerland.
Pentagon Chemical Holdings, the UK chemical manufacturer, has been acquired by US-group Vertellus in a deal advised by mid-market advisory firm Clearwater International.
Pentagon has been operating since 1939 on its Widnes-based site and since 1975 on its Workington site, producing fine chemicals and intermediates for the crop chemicals, oilfield, paper and pharmaceutical industries. With a turnover of GBP50m and 180 employees, Pentagon is one of the largest independent manufacturers of specialty chemicals in the UK.
Vertellus Specialties is a US manufacturer of speciality chemicals for the agriculture, coatings, medical, nutrition, personal care, pharmaceuticals and plastic industries. The Indiana-based
Israeli venture capital fund Peregrine Ventures has sold around 30 per cent of its holdings in medical devices company Neovasc Inc to the investment firm Fidelity Select Portfolios: Medical Equipment & Systems Portfolio, for USD12 million.
Peregrine sold two million of the 6.7 million Neovasc shares it held at USD6.00 per share. Approximately 4.7 million Neovasc shares, which comprise around 70 per cent of Peregrine’s original stake in Neovasc, are still held by Peregrine. These holdings are currently worth around USD27.5 million. Neovasc’s current market cap is around USD315 million.
Neovasc Inc is traded on NASDAQ under the ticker
Baird has advised MidCon Holdings, a portfolio company of private equity firm Arbor Investments, on its sale to Green Bay Packaging.
Terms of the transaction, which closed on 31 October, have not been disclosed.
Justin Albert, managing director, head of Baird’s packaging investment banking team and lead banker on the transaction, says: “This transaction is the most recent example of accelerating consolidation in the corrugated packaging space. An increasingly competitive environment among corrugated packaging suppliers is driving consolidation as companies seek to build market share, diversify product offerings and expand footprints to increase scale and maintain operational efficiency. That’s
Larsen MacColl Partners has sold its portfolio company, A&S Services Group and affiliates, to Celadon Group.
The purchase price of USD55 million sees LMP realise a 24x multiple of its invested capital from the sale.
LMP managing partner, Jeff Larsen, says: “Thanks to Ken Buck and his team, A&S grew tenfold during our partnership. We wish everyone at the combined company continued success. We’d also like to thank both BB&T, as our exclusive financial advisor, and Miller and Martin who acted as legal counsel to the sellers.”
A&S president and chief executive, Ken Buck, says: "We achieved growth
Private equity firm Envisage Equity is to provide an equity investment in and establish strategic partnerships with Noble Environmental Technologies (NET).
Envisage's investment enables Noble Environmental Technologies to significantly expand its existing production facility in Kraljevo, Serbia, and to build a research and development production facility in San Diego, California.
Additionally, in connection with the facility expansion in Serbia, the Serbian government will provide Noble Environmental with a substantial grant and will share in the costs of the expansion. The Serbian government has committed to collect and provide the agricultural waste from local farmers.
NET's ECOR technology can
Elian Fund Services has appointed two associate directors, Jane Stammers and Alex Di Santo, to its real estate and private equity teams in Jersey.
Stammers has over 20 years’ experience in the offshore administration of real estate and corporate structures. In her new role she will be responsible for ensuring the highest levels of offshore management, corporate governance and company secretarial skills are provided to Jersey structures.
Stammers also acts as a director on a number of real estate client boards and assists with the management of Elian Real Estate’s administration team.
Stammers joins Elian from Crestbridge where
easyProperty, the online estate agent from easyJet founder Sir Stelios Haji-Ioannou and property entrepreneur Rob Ellice, has smashed its overall fundraising target by 30 per cent, raising GBP9.75m through a mix of crowdfunding and private investment.
Global law firm White & Case has advised GSO Capital Partners on its GBP115 million debt-and-equity financing of the management buyout of XLN Telecom from ECI Partners.
White & Case also represented the management-backed Newco on the acquisition.
GSO, a subsidiary of global investment and advisory firm The Blackstone Group LP, is one of the world’s largest credit-oriented alternative asset managers with more than USD67 billion in assets under management.
London partner Gareth Eagles, who led the team which advised GSO, says: “Our team included lawyers from several of our practices but in particular our banking and private
Indian car rental company Zoomcar has secured an investment from private equity firm Sequoia Capital.
Zoomcar started in Bangalore in February 2013, with seven vehicles at one location, but now has over 250 cars at about 40 locations across Bangalore and Pune, with plans to expand to other cities in India.
“Zoomcar has broken many conventions,” says Shailendra Singh, managing director of Sequoia India. “David and Greg are incredibly driven and determined entrepreneurs who moved to India from the USA to usher in a new era of self-drive. They have built technology to make an incredibly user-friendly experience, with all
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