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The RAG-Stiftung foundation has acquired a majority holding in specialist engineering firm HAHN Automation via RAG-Stiftung Beteiligungsgesellschaft mbH.
The transaction is currently awaiting approval from the merger control authorities.
A CMS Hasche Sigle team led by Dr Richard Mayer-Uellner and Dr Malte Bruhns advised the foundation on all legal aspects of the transaction.
Established in 2007, the RAG-Stiftung foundation is tasked with winding down the subsidised coal mining operations of RAG Aktiengesellschaft in a socially responsible way by the end of 2018. Another role of the private-law foundation is to finance the perpetual obligations arising from German coal
Clearlake Capital Group has acquired Sage Automotive Interiors, the second largest automotive textile supplier in the world.
Sage management invested alongside Clearlake in the transaction.
Financial terms of the transaction have not been disclosed.
“This acquisition underscores Sage’s success and vision, and provides a stable platform to help drive our future growth, both domestically and globally,” says Dirk Pieper, Sage CEO. “Clearlake is an experienced investor in the automotive space, bringing valuable industry expertise and strong financial resources. We appreciate this vote of confidence in all that Sage has accomplished and in our future, and we look forward
New Mountain Capital has closed its fourth private equity fund, New Mountain Partners IV, with USD4.13 billion of equity capital commitments.
This includes USD4.0 billion of third party limited partner commitments and over USD130 million from the general partner and affiliated investors.
The fund, which had a target of USD3.0 billion, was oversubscribed at its hard cap of USD4.0 billion of limited partner commitments.
“We thank our Fund IV investors for their friendship and partnership,” says Steven B Klinsky, founder and CEO of New Mountain. “We will do our best to reward their confidence with strong performance.”
The Greater Manchester Loan Fund (GMLF), which is managed by Maven Capital Partners, has invested in cinema software supplier Unique Digital, its eighth investment in just over a year.
Funding from the GMLF will help the company to continue the UK roll out of its latest product MovieTransit, the first broadband IP distribution network for the delivery of entire movies to cinemas.
Unique Digital is a software developer for the cinema industry, founded by entrepreneur Chris Hagan in 2003, providing proprietary solutions for the management of digital equipment in cinemas. MovieTransit, a content distribution solution, has been fully operational
Private equity fund Monomoy Capital Partners has completed its tender offer for the common stock of Cobra Electronics at a price of USD4.30 per share.
Immediately upon the closing of the tender offer, Monomoy completed a merger transaction to take Cobra private and add Cobra to the Monomoy portfolio of companies.
Cobra is a global designer and distributor of communication and navigation products, including two-way radios, radar detectors and citizens band radios. Monomoy will focus on improving margins and cash flow while supporting and growing its core business.
“We are thrilled to add Cobra to our consumer electronics
Over half of the respondents in Preqin’s latest bi-annual survey allocate, or plan to allocate, to liquid alternative funds, further reaffirming that this asset class is here to stay.
As reported in Preqin’s latest Hedge Fund Spotlight report, 35 per cent of the more than 100 investors surveyed by Preqin in June said that they currently invest in liquid alternatives; either alternative UCITS (Europe) or alternative mutual funds (US). A further 16 per cent said that they planned to in the future. Separately, Preqin also surveyed more than 150 hedge fund managers to get their views on this growing space.
Averys, the French storage systems company specialised in shelving and metal furniture for industrial use, has completed a EUR165 million refinancing.
Backed by LBO France since 2008, Averys completed a transformative build-up in 2013 with the acquisition of Stow, doubling the group’s revenue and EBITDA.
The group is now the European number two in its sector with two thirds of sales coming from outside of France.
Laurent Mabileau, director with LBO France, says: “This refinancing follows the successful integration of Stow and reflects the confidence of Averys’ financial partners. The new facility is fully adapted to support Averys’
Cordium, a provider of compliance consulting, accounting, tax and software to the financial services industry, has launched a Strategic Regulatory Response Plan for clients.
The new service was designed in collaboration with the founders of Strategic Enforcement Advisors (SEA) as part of an exclusive relationship between the firms.
The product prepares managers to deal with SEC enforcement or investigative action, comprising expert, targeted support and advice. It is not designed for firms currently reacting to or expecting imminent enforcement action. It is designed to enable firms to prepare for any potential future action, allowing firms to minimise disruption and
Pan-European mid-market private equity firm Agilitas has appointed Kevin Iermiin as an investment executive.
Iermiin joins from Bank of America Merrill Lynch where he was a vice president in the Nordic investment banking team in London.
He has spent the last eight years working on a wide variety of transactions including mergers and acquisitions, IPOs, structured products and debt instruments across a number of sectors and European geographies.
Iermiin also worked as an equity analyst for four years, covering the industrial small and midcap sector in Denmark.
Martin Calderbank, founding partner at Agilitas, says: “Kevin has an
La Française has appointed Pierre Schoeffler as senior global asset allocation advisor, a role that will cover all asset classes managed by the group.
Xavier Lépine, chairman of the board of La Française, says: "Pierre's experience, advice and quantitative tools will help reinforce our strategic overview in terms of allocation through a quantitative approach to the various asset classes.
“Our strength lies in the diversity and originality of our solutions and approaches, and our ambition is to optimise their combination by drawing on Pierre's vision as a portfolio strategist. In the current low rate environment, our aim is to
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