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Clayton, Dubilier & Rice (CD&R) managed funds are to invest USD500 million in CHC Group through the purchase of convertible preferred shares to be issued in a private placement.
As part of the transaction, CHC also intends to pursue a USD100 million rights offering of the convertible preferred shares to existing shareholders.
CD&R has agreed to purchase convertible preferred shares, if any are not purchased in the rights offering, which could bring CD&R’s total investment amount up to an aggregate of USD600 million.
According to William Amelio, CHC’s president and chief executive officer, the CD&R investment enables CHC
Venture capital veteran Sonja Hoel Perkins has joined the advisory board of GridGain Systems, a provider of an open-source, in-memory computing (IMC) platform.
Perkins (pictured) brings over two decades of leadership and investment expertise in the high-tech industry, and currently serves as managing director of Menlo Ventures and founder of Broadway Angels.
"In-memory computing is more than 'on its way' to being a staple of enterprise computing," says Perkins. "GridGain is already positioned to lead the charge as organisations begin to adopt this technology and incorporate it into their core infrastructures."
"I've been fortunate to work with Sonja
2013 was a year of strong private equity exit activity in the Central and Eastern Europe (CEE) region, the third highest on record, according to the European Private Equity and Venture Capital Association (EVCA).
Unlike the previous two record years, 2013 was not dominated by one or two large disposals.
In addition, 88 companies were exited, the highest number in the past seven years. However, both fundraising and investment activity fell relative to 2012. Despite this, the region continues the trend seen since 2010 for a year-on-year increase in the number of companies receiving private-equity backing, which increased by
Highland Capital Management has launched a non-traded product line with a publicly-registered business development company (BDC) NexPoint Capital.
The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of USD1.5bn in capital for investing primarily in medium-sized businesses.
NexPoint Capital represents Highland’s initial non-traded product with the company announcing plans to introduce additional non-traded products later this year. The BDC will be distributed by Highland Capital Funds Distributor and will be led by Brad Ross, president of Highland Funds, and Brian Mitts, chief operating officer of NexPoint Advisors and head of business development
SuMi TRUST Global Asset Services, a provider of operational and administration support services to institutional asset managers, has completed the enhancement of its Asian business.
SuMi TRUST has strengthened its operational and client service teams in all three centres with all asset servicing and client relationship activity for Japanese and Asian clients now being carried out from Tokyo, supported by the operational and administration centre in Dublin.
The Tokyo-based asset servicing team is composed of sales, dedicated client relationship management and experienced operations staff transferred from SuMi TRUST Dublin office.
“We are very pleased to have completed this
Kate Mitchell, co-founder and partner of Scale Venture Partners and former chairman of the National Venture Capital Association (NVCA) board of directors, has re-joined NVCA’s board as a director.
Mitchell’s term will expire in 2016 and comes after Adam Grosser, managing director of Silver Lake Kraftwerk, resigned from the NVCA board.
Mitchell previously joined the NVCA board as a director in 2007 and then later served as chairman from 2010 to 2011.
Scott Sandell, general partner of New Enterprise Associates (NEA) and chairman of the NVCA board of directors, says: “We are excited to have Kate re-join the
ARX Equity Partners, together with Jacek Gromniak, has completed the management buy-in of Anwis Polska.
Financial details of the transaction, made by ARX CEE III, have not been disclosed.
Anwis is a Polish producer of custom-made window coverings. The company has been operating for 35 years and has recently seen rapid growth, with sales reaching EUR22.6 million in 2013.
ARX and Gromniak plan to grow Anwis through organic expansion in existing and new geographies, with selective add-on acquisitions possible in the medium term. At present Anwis operates in Poland, where it has a market leading position, and Germany.
Green Visor Capital, a venture capital firm focused exclusively on early stage financial technology companies, has made an investment in Madrone.
Based in San Francisco, California, Madrone has built a cloud based platform for asset management institutions to analyse and automate portfolio and business decisions.
The company was founded in 2013 with a view towards leveraging technology to transform the way capital is allocated to alternative asset managers. Madrone's team has significant experience with leading asset management and information service firms such as Guggenheim Partners, SAC Capital, Man Group and Thomson Reuters.
Madrone's platform aggregates and analyses the
CIT Group acted as administrative agent, joint lead arranger and joint bookrunner for credit facilities supporting Audax Private Equity, a middle market private equity firm, in its acquisition of Wheel Pros.
Financing was provided by CIT Bank, the US commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.
“Having completed nine transactions with Audax in the last 18 months, we are pleased to provide this financing and support Audax in its acquisition of Wheel Pros,” says Tom Hobbis, co-head and managing director, CIT Sponsor Finance. “We are excited about the opportunities to continue to partner with
Toronto-based Flybits has closed a USD3.75 million series A financing led by Robert Bosch Venture Capital (RBVC) and Trellis Capital Corporation with participation from MaRS Investment Accelerator Fund and Ryerson Futures.
The investment will advance the company's product development and international growth in the US and Europe.
Since spinning off from Ryerson University in 2012, Flybits has raised a total of USD4.05 million to date, including a seed round from MaRS Innovation. Flybits technology has been used in developing smarter cities, connected stadiums, smart corporate campuses, shopping malls, conference venues and fashion shows.
"Flybits is RBVC's first investment
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