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Impax Asset Management has added three new hires to its private equity infrastructure team.
Within private equity infrastructure, the firm manages two funds that follow an industrially focused, value-add “buy, build and sell” strategy, investing in renewable power generation and related assets.
Its latest fund, a EUR330 million investment fund that achieved final close in 2011, is now close to 75 per cent invested.
Peter Rossbach, managing director of the private equity infrastructure team, says: “We are delighted to announce these appointments which bring a broad range of analytic experience and expert support to strengthen the team. In
HIG Europe, the European affiliate of private equity firm HIG Capital, has completed the acquisition of Café & Té and Panaria, two bakery, coffee-shop and tapas bar operators in the Spanish foodservice market.
Café & Té is a Spanish coffee-shop and tapas bar operator with a network of 147 points of sale with 101 directly operated stores (DOS). Café & Té Group operates, amongst others, through the following brands: Café & Té, Café & Tapas, Il Caffè di Roma, Kroxan and Sky Madrid.
Panaria was founded in 2010. In four years Panaria has developed a network of more than 60
Evercore is to acquire the operating businesses of ISI International Strategy & Investment, an independent research-driven equity sales and agency trading firm.
Evercore also will acquire the approximately 40 per cent interest in its institutional equities business not currently owned by the company.
The combined business, which will be known as Evercore ISI Institutional Equities, will be one of the two leading independent equity research, sales and agency trading businesses in the US.
Evercore will issue up to approximately eight million share equivalents in the two transactions, with almost 70 per cent of the share equivalent consideration dependent
The Asian Development Bank (ADB), ORIX Corporation and Robeco Institutional Asset Management have teamed up to establish Asia Climate Partners (ACP).
The new joint venture will undertake commercially-oriented private equity investments across a variety of environmentally supportive, low-carbon transactions throughout Asia.
ACP, which will be capitalised initially by USD400 million from its founding partners, will be based in Hong Kong, staffed by a team of experienced private equity investment professionals, and dedicated to investing in renewable energy, clean technology, natural resource efficiency, water, agriculture, forestry and other climate-friendly companies and transactions.
“We believe that ACP provides an innovative
UK clinical stage pharmaceutical company Destiny Pharma has secured an investment round of over GBP2.8 million to fund a clinical trial for its drug, XF-73, which aims to prevent post-surgical Staphylococcal infections.
The Angel CoFund, a GBP100m fund for small and medium sized British businesses with government backing, invested in Destiny Pharma alongside other UK investors.
Antibiotic resistance is of growing concern with David Cameron warning that we may be heading into a post-antibiotic era akin to the ‘medical dark ages’. In July this year, he announced an independent review on the subject with a view to make recommendations as
The UK has overtaken Germany as the European country in which most research and development (R&D) takes place, according to second annual CMS Employee Inventor Rewards Survey.
A key question raised by the survey is the extent to which rewards actually encourage inventions and innovation among employees.
A third of respondents indicated that they had engaged in disputes with employees regarding rewards for inventions (in comparison with 40 per cent in last year’s survey) indicating that, counter to their positive implications for innovation, inventor rewards policies can also be divisive.
The online survey of 48 European companies’ inventor
Lesaffre has sold 100 per cent of UK food distributor BFP Wholesale to private equity consortium Zimt Holding.
The transaction details have not been disclosed.
Headquartered in Sevenoaks, BFP is a nationwide, one-stop wholesale supplier of ambient, chilled and frozen food products. The company’s products are distributed from depots via a fleet of multi-temperature vehicles to more than 4,000 customers throughout the UK, including Krispy Kreme and Greggs.
BFP has grown consistently over the years and in 2013 sold 50,000 tonnes of food products, generating a turnover of over GBP75m.
Marc Casier, Lesaffre’s general manager baking Western
Dubai International Capital (DIC), the private equity arm of Dubai Holding, has completed the sale of Mauser Group to Clayton, Dubilier & Rice (CD&R) for circa USD1.7 billion.
The agreement for the sale was announced on 12 May 2014.
David Smoot, chief executive officer of DIC, says: “We are extremely pleased with the outcome of the Mauser sale. This transaction demonstrated DIC’s ability to improve and grow the companies it has invested in to ultimately achieve an attractive value at the point of exit. We are now focused on continuing to enhance the value of our remaining portfolio as
The Abraaj Group has exited its investment in Fibrex, a manufacturer of high-density polyethylene (HDPE) and other low-pressure plastic pipe products used in the construction industry.
Established in 1966, Fibrex initially manufactured woven bags to transport agricultural materials and fertilisers. The company’s product line quickly evolved over time to products such as PVC and HDPE pipes for the construction industry.
Abraaj, through one of its funds, invested in Fibrex in 2007. The group’s close operational support has led to an upgrade in energy supply infrastructure, improved governance, accounting and reporting standards, and increased environmental efficiency in the company.
Pharmaceutical firm Almirall has agreed with London-based AstraZeneca to transfer its drug platform for respiratory disease treatments.
Once the transaction is completed, AstraZeneca will pay USD 875 million for the rights.
Up to USD1.22 billion is additionally payable if certain milestones are reached with regard to the development, launch and commercialisation of existing and future drugs.
The German subsidiary, Almirall Sofotec, which develops inhalation technology, and a substantial number of employees dedicated to the respiratory disease business, will also transfer to AstraZeneca.
The transaction is subject to approval from the authorities and the consultation of the employee
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