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Mid-market private equity firm LDC has exchanged contracts to sell its stake in pharmaceutical manufacturer Penn Pharmaceuticals in a GBP127million transaction with Packaging Coordinators.
LDC took a significant stake in Penn in April 2007, investing GBP33million in the business. The exit will deliver nearly a 3x return on its original investment.
Established in 1979 and headquartered in Tredegar in South Wales, Penn provides a selection of contract development and manufacturing organisation (CDMO) services to its customer base that comprises some of the world’s leading pharmaceutical and biotech companies. Its reach spans Europe, Japan and the US, and it provides
The management of fishing tackle company Fox International has secured a significant investment in the company led by Next Wave Partners and supported by Pricoa Capital Group.
Along with the senior management team, Cliff Fox will retain a substantial stake in the business and will remain involved in the future success and direction of the business.
The investment will allow Fox International to continue its innovation programme, upgrade and improve customer service and expand into new geographical markets.
Fox says: “I’m really delighted to be partnering with Next Wave Partners and I look forward to the next stage
Imperial Capital Group of Toronto, together with its partner OPTrust Private Markets Group, has completed a CAD121 million investment in Dental Corporation of Canada.
Based in Toronto, Dental Corp is the largest group of dental practices in Canada with approximately 90 locations.
The company was founded in 2011 by Graham Rosenberg and Dr Andrew Meikle and enables dentists to retain their clinical and operating autonomy and focus on patient care rather than the administrative aspects of running a dental practice.
"We have had a strong interest in the North American dental business and see Dental Corp as both
Fiona Le Poidevin has resigned as chief executive of Guernsey Finance, the promotional agency for the island’s finance industry internationally, to head up the Channel Islands Securities Exchange (CISE).
She will leave in early 2015 to become chief executive at the CISE, which is responsible for the day to day administration and marking operations of the new exchange.
CISE is the parent company of the Channel Islands Securities Exchange Authority (CISEA), which is responsible for operating and regulating the exchange.
Jon Moulton, chairman of the CISE says: “I am delighted that Fiona has decided to join us as
AnaCap Financial Partners, together with HIG and Deutsche Bank, has completed the acquisition of a EUR495m portfolio of non-performing and sub-performing loans from Volksbank Romania.
Under terms of the agreement, funds advised by AnaCap will jointly acquire the entire portfolio with HIG and Deutsche Bank.
The portfolio of 3,566 loans in total is backed by a mix of primarily residential, commercial real estate and development land. APS Romania will be appointed as master servicer.
The transaction is the largest of its kind in Romania to date and came about as a result of the ongoing pressure on financial
Private equity firm Vista Equity Partners has acquired AGDATA, a provider of strategic data and analytical solutions to the world’s largest agricultural, crop protection and animal health manufacturers.
AGDATA was previously a portfolio company of SFW Capital Partners.
Founded in 1985 and headquartered in Charlotte, North Carolina, AGDATA’s core product, Integrated Data Solutions (IDS), allows input manufacturers and trait providers to analyse complex sales data, analyse sales trends, as well as to develop and maintain marketing and seed rebate programmes.
The Company also offers AgCelerate Industry Standard Platforms, a suite of SaaS-based solutions that allow growers to self-verify
The Royal Bank of Scotland (RBS) has completed a GBP20 million re-banking of EV Offshore.
This marks an ongoing banking relationship for EV, following the recent GBP69 million management buy-out supported by Dunedin, the UK mid-market private equity firm.
Dunedin backed EV in a transaction that saw it employ its trademark DebtBridge solution in order to ensure deliverability and certainty of debt funding for the company. This is the sixth investment in which Dunedin has used its DebtBridge product.
EV designs, manufactures and provides high performance, ruggedised video cameras that are used to diagnose and analyse problems in oil
European growth private equity specialist Keensight Capital has received Alternative Investment Fund Manager (AIFM) authorisation from the French market regulator Autorité des Marchés Financiers (AMF).
Following this formal authorisation, Keensight Capital will now be able to offer its investors a secure and European-wide regulatory framework implementing its investment strategy.
The application procedure was initiated by Keensight Capital at the beginning of 2014, well before the deadline for AIFMD compliance.
The attribution of this official label was largely facilitated by the fact that processes similar to those required by the directive were already in place and used by the
PointGuard Ventures has led a USD13 million financing round for Movius Interactive Corporation, an Atlanta-based specialist in mobile identities and converged messaging solutions.
New Enterprise Associates (NEA) and Anschutz Investments also participated in the round.
Movius is the first mobile investment from PointGuard's new fund, and will be used to fulfil and accelerate the company's global expansion associated with its next generation mobile applications platform known as CAFÉ (Communication Applications Framework Engine) and myIdentities.
"Over 150 global carriers have already partnered with Movius, and we have several major partnership announcements coming later this year," says Dominic Gomez, CEO
Private equity investor Actis has substantially exited from Alexander Forbes Group by selling a nine per cent stake in an oversubscribed offer through the Johannesburg Stock Exchange (JSE).
Actis still holds a four per cent stake in the South African financial services company.
Mercer Africa, a subsidiary of Marsh & McLennan Companies, has agreed to acquire 34 per cent of Alexander Forbes as part of the exit deal, an investment that would give Mercer an opportunity to broaden its exposure in sub-Saharan African markets.
Mercer is initially acquiring a 14.9 per cent stake, at the time of the
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