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Law firm HowardKennedyFsi has advised Christian Nellemann, chief executive and founder of XLN, following the decision by private equity firm ECI Partners to sell its stake in XLN to its management team.
XLN is a provider of fixed line and mobile telephony, broadband, energy and card processing services to small and micro businesses across the UK.
XLN’s management team is financing the purchase through vehicles managed or advised by GSO Capital Partners, a division of the Blackstone Group.
Paul Glassberg, a partner in HowardKennedyFsi’s corporate team, says: “I have been advising Christian for a number of years and
The Ontario Teachers' Pension Plan has agreed to acquire a 29.7 per cent interest in Pamplona Capital Management’s CSC ServiceWorks.
Terms of the transaction, expected to close in December, have not been disclosed.
CSC is the largest North American route-based service provider of multi-family housing and commercial laundry services.
CSC was created In May 2013 when Pamplona simultaneously acquired Coinmach Service Corp and AIR-serv Group. Under Pamplona's ownership, CSC has expanded its senior management team, invested in information technology and systems, completed several acquisitions, and grown organically, while nearly doubling EBITDA to greater than USD325 million.
Tikehau Investment Management and Emisys Capital have jointly arranged a unitranche bond facility backing the acquisition of GF by a group of investors led by LBO Italia.
Created in 1979 by Franco Serventi, GF is a fast growing producer and distributor of automated inspection and filling machines for the pharmaceutical industry. The company is headquartered in Parma (Italy) and exports more than 80 per cent of its production worldwide.
The acquisition was completed by CR Holding, a special purpose vehicle owned by a group of investors led by LBO Italia together with GF’s founder, and financed by the unitranche
NICE Actimize has partnered with Alacra to integrate Alacra's customer onboarding and Know-Your-Customer tool, Alacra Compliance Enterprise (ACE) and Alacra's Reference Data Platform, into NICE Actimize's Customer Due Diligence (CDD) anti-money laundering solution.
Powered by Alacra and supported by NICE Actimize's extensive experience in providing anti-money laundering solutions, the NICE Actimize CDD solution will offer seamless integration with third-party data providers to allow financial institutions to easily identify and manage the investigation processes of high risk customers by leveraging external data sources to offer enhanced real-time data investigations.
The joint solution will proactively monitor the latest breaking news, as well
The private equity investment company sector has experienced its share of ups and downs over the last ten years.
The average discount for the private equity sector widened dramatically at the end of 2008 during the financial crisis to 51 per cent, compared to an investment company industry average of 18 per cent. The current average private equity sector discount (at 20 October 2014) of 19 per cent is in stark contrast with an average investment company discount of five per cent.
Whilst the private equity sector has under-performed the wider investment company sector over the last decade, performance has
Alter Domus, a European provider of fund and corporate services, has appointed James McEvoy as country executive Ireland.
McEvoy will be responsible for the overall management and development of the team and building new client relationships in the region.
“Alter Domus Ireland has a team of experienced and dedicated professionals and is able to provide the full suite of corporate services to local and international clients. I am very excited to be part of Alter Domus and I am impressed by its track record and client base,” says McEvoy.
McEvoy has more than 13 years of experience working
A significant number of ethical investors have softened their opposition to nuclear power as doubts grow over the adequacy of wind and solar power as substitutes for carbon-based energy sources, a Kames survey has found.
The survey, which canvassed the views of 50 of the UK’s most prominent ethical investors, found that 44 per cent of respondents have softened their stance on nuclear power.
Previous surveys and anecdotal evidence had suggested outright opposition to nuclear, but the results suggest that there is a growing acknowledgement that the UK needs to find alternative energy sources to meet climate change targets
Private equity firm Berkshire Partners has acquired a majority interest in Access Information Management, a provider of records and information management services in North America, from Summit Partners.
Terms of the transaction have not been disclosed.
Access offers a complete suite of storage and related document management services, such as inventory management, digital access solutions, secure destruction and compliance services. Access has a presence in 31 US markets and has a growing international business, serving primarily small and medium-sized enterprises (SMEs) within each of these markets.
Founded in 2004, Access now has an extensive footprint across the US
Samchully Asset Management has acquired a 34 per cent interest in Cardinal Gas Services (CGS), located in Ohio’s Utica Shale play, from TOTAL E&P USA and EV Energy Partners, who owned 25 per cent and nine per cent of CGS, respectively.
The total purchase price of USD544 million (USD612 million including purchase price adjustments) is comprised of 100 per cent cash. For purposes of the acquisition, Samchully AMC has established a special purpose vehicle that is owned by a new fund, with investors comprised of Korean pension funds and E1, a Korean strategic investor.
CGS is a wet gas
JZ Capital Partners Limited (JZCP) is to sell its equity interest in Milestone Aviation Group to GE Capital Aviation Services.
JZCP first invested in Milestone Aviation in September 2010, investing a total of USD15.1 million to date.
JZCP is expected to receive a total of USD40 million from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36 per cent.
Milestone Aviation is the world’s largest helicopter leasing company headquartered in Dublin, Ireland. The company is focused on leasing helicopters to the oil and gas, and mining industries, as well as to
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