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Mid-market private equity house LDC has completed a significant investment to support the GBP42 million management buy-out (MBO) of Eley Group from Birmingham-headquartered engineering business IMI plc.
Based in Sutton Coldfield, near Birmingham, Eley Group comprises two trading subsidiaries: Eley Limited (which includes Eley Americas Inc.) and Accles & Shelvoke.
Founded in 1828, Eley is a manufacturer of .22LR rounds for the target shooting market. Its products are used in target shooting by Olympic standard athletes at all major global tournaments.
The deal with LDC will provide further capital to help accelerate the continuing growth of Eley Group,
Tungsten Corporation, the global electronic trading network, has acquired DocuSphere, a provider of accounts payable automation solutions.
The acquisition, which was completed in September 2014, extends Tungsten’s invoice-automation technologies to help companies streamline their accounts payable functions, adhere to tax and regulatory compliance, and have greater transparency of the entire invoice-to-pay process.
The combined firm will enable companies to reduce invoice exceptions and increase straight-through processing.
Rick Hurwitz, CEO, Americas, Tungsten Network, says: “As a result of this acquisition, DocuSphere customers will gain access to Tungsten’s e-Invoicing network, Tungsten’s existing clients will benefit from an even more secure, smart
BNP Paribas Securities Services is to act as depositary bank for the Antin Infrastructure Partners II fund, in accordance with the Alternative Investment Fund Managers Directive (AIFMD).
BNP Paribas was appointed as depositary bank for the original Antin Infrastructure Partners fund.
Alain Rauscher, president directeur général of Antin Infrastructure Partners, says: “We were looking for a reliable partner, an expert on investment vehicles across different legal frameworks. The international dimension of BNP Paribas Securities Services was therefore a decisive element for us. We have complete confidence in the bank’s teams, which have provided us with first class support to ensure
TVM Capital Life Science has held the final closing of its latest fund, TVM Life Science Ventures VII, raising more than USD200 million from a broad mix of investors including Teralys Capital and Eli Lilly and Company.
Other investors include the Business Development Bank of Canada, the Minnesota Life Insurance Company, CD Venture and FondAction. The fund also attracted significant investment from other pharmaceutical companies such as Bukwang Pharma of South Korea.
TVM Life Science Ventures VII is a collaboration between TVM Capital Life Science and industry to finance and access innovation, in addition to being a way to
The US initial public offering (IPO) market continued to demonstrate significant investor interest in IPOs in the third quarter of 2014.
While the volume of IPOs slightly declined, proceeds reached USD38.1 billion, and the pace of companies entering the IPO registration process continued to exceed prior year levels, according to IPO Watch, a quarterly survey by PwC US of IPOs listed on US stock exchanges.
Interest in new equity issues remains healthy heading into the fourth quarter, although investors have become more cautious as they evaluate various global macroeconomic and geopolitical issues.
According to PwC, there were 68
Alexander S Panos, a general partner and managing director of TSG Consumer Partners, is leaving the firm to start his own private equity fund.
Chuck Esserman, chief executive and founder of TSG, says: “Alex has been a valued member of our leadership team, and we wish him great success in his new business.”
Panos (pictured) joined TSG as an associate in 1998 in San Francisco and after successive promotions was named a managing director of TSG in 2004. In 2007, he moved to TSG’s New York office. He also served on TSG’s investment committee.
“I greatly appreciate my
Jill Calton (pictured) is a managing director of the Alternative Investment Services division at UMB Fund Services. Over the past 12 months, the firm, which currently administers just north of USD31bn in alternative investment assets, has seen increasing inflows into credit strategies and private equity funds; particularly the latter.
“We have several existing private equity clients that are entering new deals and launching new vehicles. We’ve also taken on a few fairly large private equity groups this year who have rotated out of other administrators. In addition, an increasing number of private equity managers who previously did fund administration internally are
Mid-market private equity firm ECI Partners has sold portfolio company XLN Business Services to XLN’s management team, financed by vehicles managed or advised by GSO Capital Partners.
XLN was the first investment from ECI’s Fund 9 in September 2010 and this exit has yielded ECI a 3x return on its investment.
During ECI’s period of investment XLN made two bolt-on acquisitions: acquiring Card Processing Solutions (to provide a credit and debit card processing service to its customer base) and Shine Telecom (a smaller provider of fixed line telecoms to small businesses).
Frank McKay, former CEO of Travis Perkins
Hargreave Hale has announced a new offer for subscription to raise GBP20 million into Hargreave Hale AIM VCT 1 plc and Hargreave Hale AIM VCT 2 plc.
Launched in 2004, the Hargreave Hale AIM VCTs, which are co-managed by Giles Hargreave and Oliver Bedford, offer investors access to a diversified portfolio of small companies listed on AIM, with a competitive share buyback policy.
The VCTs target a tax free income of five per cent and offer investors an upfront tax relief of 30 per cent, providing sufficient income tax is paid and the shares are held for at least
Following the decision by the California Public Employees’ Retirement System (CalPERS) to withdraw from their exposure to hedge funds, Preqin looks at the wider trends of US state pension plans’ exposure and activity in the hedge fund asset class. Read more…
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