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8 Miles, a pan-African private equity firm, has acquired a 25.1 per cent stake in Eagle Chemicals Group, a producer of resin and polymer products.
The financial details of the transaction have not been disclosed.
Eagle Chemicals Group was established in 1958 and now manufactures over 20 product categories including alkyds, acrylics, epoxy resins, saturated polyesters and ink coatings. The company has three state-of-the-art factories and two tank farms located in Egypt, employs approximately 600 people and produces approximately 100,000 tons per annum of chemical products.
Eagle Chemicals exports its products to more than 50 countries spanning Africa,
The gradual economic improvement in Europe, increasingly liquid debt markets and stronger IPO market conditions supported an increase in exit activity of PE-backed businesses in 2013.
That’s according to EY’s ninth annual European PE exits study. Last year saw 77 exits in the population covered by the study versus 61 in 2012.
The report, Taking stock: how do private equity investors create value? A study of 2013 European exits, examines the outcomes and methods of exits from a consistent population of large, PE-owned European businesses, numbering 604 between 2005 and 2013.
It showcases the return of exits via
Social impact fund Impact Ventures UK (IVUK) has earmarked GBP2 million for investment in a joint venture (JV) with Glasgow-based social enterprise Homes for Good (Scotland) CIC.
The JV will create a portfolio of newly refurbished properties dedicated for people in social housing need across the Greater Glasgow region.
Established by social entrepreneur Susan Aktemel in February 2013, Homes for Good is Scotland’s first lettings agency to specialise in supporting low-income tenants. IVUK’s investment will enable the company to develop the next phase of its strategy and become the first socially-focused landlord in the private rental space.
Aktemel says:
BuyAndSellItAll Inc has adopted a new management approach to private equity because it believes that the traditional angel investing model is broken.
The firm has structured itself as an investment company with a hands-on management philosophy.
Operating as the parent, BuyAndSellItAll currently owns three home-grown operating companies, Automall Network, Transition Squad and TheyWroteOffMyCar.com, as part of its investment portfolio.
The company plans to focus its energies on growing the existing businesses while investing in two to three very early stage synergistic start-ups per year over the next few years.
With the mantra of "Start->Grow->Exit" as its philosophy,
Beringea, the growth capital investor that manages the ProVen Venture Capital Trusts, has made a USD4 million (GBP2.4 million) commitment to InContext Solutions as part of a USD12 million round.
In Context is a web-based company providing three dimensional virtual store research, simulations and software to manufacturers and retailers, including blue-chip customers such as Coca-Cola, Procter & Gamble and Dannon.
Beringea’s US affiliate, Beringea LLC, also participated, leading the round with its USD5 million (GBP3.02 million) investment, with further funding from US-based Plymouth Venture Partners, Hyde Park Venture Partners and other inside investors.
With this latest funding, InContext Solutions
Thames Valley and South Coast accountants and business advisers James Cowper has strengthened its corporate finance team with the appointment of Caleb Lewington.
Lewington joined the team in August.
With over eight years’ experience in the corporate finance market, Lewington joined from Serco's commercial finance team where he worked across high profile bids, M&A projects and developing commercial propositions across a range of sectors including defence, transport, healthcare and home affairs business units.
Prior to this, he was manager at Grant Thornton’s corporate finance team in Southampton.
Nick Rogers, partner and head of corporate finance, says:
DN Capital has raised USD200 million (EUR144 million) for its third venture capital fund, GVC III, a three time increase on its previous fund.
The fund is dedicated to investing in early and growth stage companies in northern Europe, particularly the UK, Germany, and the Nordics with an allocation for US companies expanding into Europe.
The investment strategy is focused on supporting dynamic entrepreneurs to global category leading companies – in software, mobile applications, digital media and e-commerce – and in expanding out of their home markets.
Investors include family offices, large institutional investors and sovereign wealth funds.
Nenad Marovac,
The Solina group, a food ingredients supplier, has completed the refinancing of its debt with the partial reimbursement of its shareholder loans.
Supported by its majority shareholder, IK Investment Partners, the company has delivered strong organic and acquisition-lead growth and has reached a turnover of more than EUR200 million in 2013.
This strong performance has enabled the company to deleverage significantly since the acquisition by IK in 2011, refinancing its debt structure supported by its current banking pool for a total amount of EUR166 million.
Dan Soudry, partner at IK Investment Partners, says: “The acquisition lines structured at
Glennmont Partners has closed its second fund, Clean Energy Fund II, having raised EUR500 million, the maximum amount permitted, exceeding its target of EUR450 million.
The life of the fund is ten years and the fundraising has been supported both by existing and new investors, including the European Investment Bank (EIB) which invested EUR50 million, the single largest clean energy equity investment it made in 2013.
With its second fund, Glennmont has attracted capital from new territories and now has investors in its funds based across Europe, the US, the Middle East and Asia.
Glennmont managing partner Joost
Castle Hall Alternatives, an operational due diligence specialist focused on hedge funds, private equity funds and long-only funds, has teamed up with ReportLab to launch the OpsDiligence platform.
The hosted platform provides clients with access to a detailed live database and in-depth PDF reports, often 50+ pages long. Reports can be generated directly from the database, allowing clients to pull down a publication-quality document seconds after updates to any of the content.
Castle Hall Alternatives specialises in operational due diligence on hedge funds, private equity and long only funds.
“We came to ReportLab for the document creation technology,
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