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Private investment firm Palladium Equity Partners has acquired, through affiliates, Q'Max Solutions, an oilfield services company with operations in Latin America, North America and Asia.
Terms of the transaction have not been disclosed.
Founded in 1993, Q'Max is a large independent oilfield services company focused on providing drilling fluids and solids control services to national and independent oil companies. The company's workforce of nearly 1,400 employees provides customised fluids and environmental solutions to challenges encountered in the drilling process. Its name "Q'Max" refers to "maximum flow from a wellbore" in engineering terms.
Chris Rivers, president and chief executive
Harald Quandt Capital (HQ Capital), a private investment group owned by the Harald Quandt Family of Germany, has appointed David Pierce as a managing director and head of Asia.
“David Pierce is an exceptionally experienced private markets investor,” says Axel May, a member of the HQ Capital board. “We are fortunate to have been able to bring him onto our team to help us grow our alternative investment firms, with a focus on developing investors and businesses in Asia.”
HQ Capital represents three financial services businesses – Auda International, Equita Management and Real Estate Capital Partners — focused on
Private equity firm Genstar Capital has completed the acquisition of US-based Pretium Packaging from Castle Harlan.
Pretium manufactures rigid plastic containers and closures that require significant technical expertise and proprietary tooling to manufacture.
Pretium uses its national manufacturing footprint, design and engineering capabilities to provide customised solutions to its customers in the food and specialty beverage, private label, pharmaceutical, personal care and household and industrial sectors.
The company sells its products to a diversified customer base ranging from Fortune 500 companies to smaller privately-owned businesses.
David Golde, who leads Genstar's packaging-related investing efforts, says: "Our investment in
Thomas Hirschberger, founder of Munich-based restaurant and bar chain Sausalitos, and EQT Expansion Capital II Limited have agreed to sell the Sausalitos Group to Ergon Capital Partners III.
The transaction is currently awaiting approval from the German competition authorities and is expected to complete in July 2014.
A team from CMS Hasche Sigle headed by lead partner Dr Oliver C Wolfgramm advised Thomas Hirschberger on all legal aspects of the sale. This included structuring and negotiating a reinvestment by Thomas Hirschberger in the Ergon Capital Partners acquisition vehicle.
Founded in 1994, Sausalitos is a casual gastro pub chain
European private equity firm Cinven is is to sell in-vitro diagnostics protein testing business Sebia to a consortium led by Montagu Private Equity and Astorg Partners for an undisclosed figure.
The transaction will generate a 2.4x return on Cinven's original investment.
During Cinven’s ownership and under chief executive Benoit Adelus' team leadership Sebia has expanded its operations into the US and emerging markets resulting in significant revenue increase comprising 21 per cent and 23 per cent of total revenue respectively at the end of LTM April 2014.
The company also launched major products such as a diabetes test
SL Capital Partners is bolstering its operational team with the promotion to partner of chief operating officer Ian Harris and the appointment of David Thompson as legal director.
As a partner, Harris will continue to lead SL Capital’s finance, operations and fund administration teams and the oversight of third party relationships. He will also focus on advancing the firm’s industry-leading regulatory, tax and compliance programmes in a rapidly changing global environment.
SL Capital was one of the first private equity firms in the UK to become authorised by the FCA in July 2013 under the new Alternative Investment Fund
Venture capital firm Osprey Capital is making an investment into GovToday, the public sector media platform.
Having raised over GBP700,000 last year, including an initial round of investment from Osprey and a grant from the North West Fund for Digital & Creative, the latest fundraising has seen a small group of investors commit a further GBP500,000.
Along with Osprey, a significant proportion of this funding has come from the Greater Manchester Loan Fund, managed by Maven Capital Partners.
GovToday, which incorporates an online portal engaging with the public, private and third sectors as well as a programme of
UK budget gym operator The Gym Group has appointed Jim Graham as chief operating officer (COO).
Graham joined the business on 1 May 2014 after leaving Phoenix Equity Partners, the group’s majority shareholder, where he has advised the management teams of a diverse range of Phoenix investments, including The Gym, to drive shareholder value.
Prior to joining the private equity industry, he was the managing director of Orange’s pay-as-you-go mobile business and has previously also held a role as a management consultant and an engineer in the Royal Navy.
John Treharne, CEO of The Gym Group, says: “We
Private equity firm NorthEdge Capital has committed to invest in Utiligroup, a Lancashire-based data management software and services company, pending approval from parent company Bglobal’s shareholders.
Founded in 1997, the business, located in Chorley, provides data management software and services to the energy sector. Utiligroup has helped a total of 15 new businesses enter the energy market during the last four years and supplies software and services to 29 of the active UK energy suppliers, including OVO Energy and Co-Operative Energy.
Following a strategic review, Matthew Hirst, Utiligroup chief executive, and Andrew Green, chief operating officer, are leading the
Mid-market private equity house LDC has agreed to back the GBP45 million management buyout (MBO) of Anite Travel Limited.
Anite Travel specialises in providing reservation systems to tour operators such as TUI and Thomas Cook.
Anite plc’s stated strategy is to focus on developing its leading position in wireless test solutions, leading to the decision to solicit offers for Anite Travel. Anite plc’s board chose LDC as the most appropriate backer for the MBO of Anite Travel as a result of LDC’s commitment to continue to invest and develop Anite Travel for the benefits of its customers, employees and
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