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Funds advised by Triton are to acquire Scandinavian Business Seating, a manufacturer of Scandinavian-designed ergonomic swivel and meeting chairs for office use.
The transaction is funded by the Triton IV fund, has an enterprise value of NOK1,925 million, and includes all assets of Scandinavian Business Seating.
The transaction is subject to approval by the relevant anti-trust authorities.
“Scandinavian Business Seating has potential to benefit from growth in its current Western geographies and its Asian hubs. We are confident that the management team in partnership with Triton will take Scandinavian Business Seating to the next level,” says Peder Prahl,
Mid-market advisory firm Clearwater International has completed its first deal since its merger, advising boutique gym chain Gymbox on its GBP10m investment of growth capital from Business Growth Fund (BGF).
This comes after Clearwater Corporate Finance merged with Danish firm Advizer and IMAP Lynx, based in Spain and Portugal, forming Clearwater International.
Gymbox currently has five clubs across London and will use BGF’s capital to continue its site roll-out in the capital with three additional sites already secured. Beyond these, the company now has the funding in place to open several further gyms in London, and in other UK cities.
Traity, which enables individuals to own their own online reputation, has secured a USD4.7 million Series A investment led by ACTIVE Venture Partners.
The investment was led by ACTIVE Venture Partners through its Amerigo Innvierte Spain Ventures Fund , together with Horizons Ventures, the venture investment arm of Li Ka-Shing; KRW Schindler Private Ventures with Philipp Schindler as a cornerstone investor; Bertelsmann Digital Media Investments (BDMI); Lanta Digital Ventures; 500 Startups; Lisa Gansky, US entrepreneur; Juan Lopez, chief digital officer at Pearson; Matthew Bothner, chair of HR and leadership at ESMT; and Dalibor Siroky, Australian entrepreneur.
Traity’s purpose is to
The AIM-quoted investment group Adamas Finance Asia (ADAM) is to invest a further USD300,000 into the BRJ China Private Credit Fund following an initial investment of USD500,000 last April.
The BRJ Fund provides capital for operationally-sound Chinese SMEs in need of short-term bridging finance not easily available within the People’s Republic of China.
It has already achieved successful exits from three early investments, yielding gross IRRs of 27.26 per cent, 31.83 per cent and 57.04 per cent on fully-repaid loans of USD2.1 million, USD2.4 million, and USD4.8 million, respectively.
The BRJ Fund was launched by Adamas Asset Management
Altor held a single close of Altor Fund IV on 3 July 2014 at its target size and hard cap of EUR2 billion.
Altor was advised on the fund’s formation by Ashurst.
"This has been a remarkable fundraising," says Ashurst funds partner Piers Warburton. "It has been characterised by enormously strong demand from investors and the adoption of a new onshore fund structure, but also by the continuation of the business model and core fund terms that have driven Altor's previous success. By adopting an onshore structure for the new fund, with a fund manager regulated in Sweden, Altor
London-based house builder London Square has been sold by private equity firm Graphite Capital to Ares Management in a joint investment by its private equity and real estate funds, for GBP110 million.
Adam Lawrence, chief executive of London Square, says: “London Square has grown into one of London’s leading house builders with the invaluable support of Graphite which backed us at a challenging time for the property market. As we move on to the next stage in our plans for growth, the backing of Ares Management is a tremendous vote of confidence to support our expansion – and the delivery
The UK's trade surplus in financial services is the biggest in the world, more than two and a half times bigger than the next largest surplus recorded by the US, according to figures from TheCityUK.
It is also three times higher than Luxembourg in third and Switzerland fourth.
The latest figures available show that the UK's financial services trade surplus was USD71bn in 2013, up from USD68bn in 2012. According to TheCityUK, this demonstrates the huge competitive advantage the financial and related professional services industry brings to the UK, and the importance of the industry in attracting international business
Caraustar Industries, a portfolio company of HIG Middle Market, the dedicated middle market investment affiliate of HIG Capital, is to acquire The Newark Group.
The acquisition is subject to customary closing conditions and required regulatory approvals.
Newark is a manufacturer of recycled paperboard, linerboard, industrial tubes, cores and other converted product including book covers and packaging solutions. Headquartered in Cranford, New Jersey, The Newark Group has approximately 1500 employees and operates over 20 manufacturing facilities in the US and Canada.
“The acquisition of The Newark Group is a major milestone in our growth journey,” says Michael Patton, chief
Infradebt, an Australian infrastructure debt manager specialising in customised investment strategies, has chosen SS&C's asset management platform.
Infradebt will use SS&C for the position-keeping, valuation and accounting for both traditional and non-traditional asset classes including infrastructure and complex debt instruments.
The new technology infrastructure will automate processes, reduce costs and provide flexibility and support for the firm's next phase of growth.
"After a comprehensive review of the market for a solution, SS&C stood apart from the rest and thorough testing showed they could support our requirements," says Alexander Austin, chief executive officer, Infradebt. "We were impressed with the
Private equity firm Phoenix Equity Partners has promoted David Burns and Richard Daw to managing partners of the firm, alongside James Thomas who has been a managing partner since 2001.
Sandy Muirhead, who has also been a managing partner of Phoenix throughout this period, is stepping down as a managing partner.
Burns and Daw have both been with Phoenix for 13 years and are long-standing members of the firm’s management committee. In their new roles, they will take shared responsibility with Thomas for day to day management of the firm and for its investor relations activity.
Muirhead will
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