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The senior management team of Vista Retail Support has completed a management buyout of the business, with the support of private equity house WestBridge Capital.
The secondary buyout was valued at GBP12.3 million.
This deal sees a majority shareholding being acquired by the existing senior management led by managing director Vince Haffenden, technical services director James Pepper and sales and marketing director Richard Cottrell. In addition, current chairman Keith Brooks will continue in the role of non-executive chair.
The MBO was led by Westbridge Capital, with support from Octopus Investments and Clydesdale Bank. The management team with support
Nordic Capital Fund VIII is to acquire Euroline, a provider of card acquiring solutions with a strong market position in eCommerce.
Euroline is a provider of quick and secure card acquiring solutions in Scandinavia with a strong market position in eCommerce and Nordic retail.
Euroline has built a portfolio of services that include simplification of payment processes, multi-currency support and risk management support. The company is based in Stockholm, Sweden, and handled volumes of SEK100 billion in 2013.
“Euroline offers businesses a simple and secure infrastructure for card transactions both online and in stores. Nordic Capital’s intention is
Chris Wade, a veteran entrepreneur and the UK Trade and Investment’s (UKTI) adviser on venture capital, is to join the ventures team at Octopus as strategic adviser.
In this new role, Wade will be working with the ventures team, and its portfolio companies, looking to break into Asian markets.
Wade is currently an adviser to UKTI on venture capital matters. This follows two years as the director of the UKTI’s venture capital unit, where he was responsible for advising the government on the role of international investment in the UK’s entrepreneurial ecosystem.
He is also a partner at
VGX Animal Health, a 90 per cent-owned subsidiary of Inovio Pharmaceuticals, has sold its animal health assets to Plumbline Life Sciences (PLS) of Korea.
The assets being transferred include an exclusive license with Inovio for animal applications of its growth hormone-releasing hormone (GHRH) technology and animal DNA vaccines plus a non-exclusive license to Inovio electroporation delivery systems.
VGX Animal Health will receive USD2 million in cash in multiple payments and 20 per cent of the outstanding shares of PLS.
VAH's 20 per cent equity ownership position in PLS will be maintained without dilution up to USD10 million of
An investment fund into which AIM-quoted Adamas Finance Asia (ADAM) invested USD500,000 in early April has exited from a Chinese investment for the second time in four weeks, this time achieving an IRR of 27.26 per cent.
The investment in both projects was made by the BRJ China Credit Fund Limited, an investment fund launched by Hong Kong-based Adamas Asset Management (HK) Limited (Adamas).
Since last February, Adamas has been acting as ADAM's investment manager.
Financing structured by Adamas is backed by robust collateral held either outside mainland China or in secure property assets.
US, UK and Hong Kong financial services regulators have increased their expenditure over the last seven years by 59.4 per cent, an average of 8.075 per cent each year, since the end of fiscal year 2006/07, according to Kinetic Partners.
The increase may be the product of growing pressure on regulatory agencies to deepen the scrutiny of those working in the financial services industry following the crash in 2008.
Kinetic Partners’ research found that the US Securities and Exchange Commission (SEC), the UK Financial Conduct Authority (FCA) and the Securities and Futures Commission of Hong Kong (SFC) had a
FF&P Private Equity has invested in European self-ticketing solution ticketscript, which has offices in London, Amsterdam, Antwerp, Barcelona and Berlin.
Since its launch in 2006, it has worked with over 70,000 events across Europe, and sold over 11 million tickets for its clients.
FF&P Private Equity will be investing GBP7million in the business, enabling ticketscript to continue its international expansion and develop new services.
Henry Sallitt, director of FF&P Private Equity, says: “We are delighted to have invested in ticketscript as a truly disruptive service provider in the pan-European ticketing market, and back the management’s ambitions to substantially
Alternative investment and private securities marketplace FNEX has appointed Chris Nelson as the company’s chief technology officer.
In this role he will oversee overall company operations, systems and platform development.
Nelson brings over 18 years of experience in technology. He joins FNEX from Delivra where he was director of operations, growing the company’s top line more than five times without incurring any debt, and spent many years in the role of director of information technology.
Prior to Delivra, Nelson held multiple roles at T2 Systems, Indiana Farm Bureau Insurance and served as Airborne Communications Operator for the
Funds advised by Pacific Equity Partners (PEP) have sold Peters Food Group, one of Australia’s oldest consumer businesses, to R&R Ice Cream backed by funds advised by PAI Partners.
The terms of the deal have not been disclosed.
Under the agreement, R&R will acquire Peters, with its portfolio of household name ice creams including Drumstick, Connoisseur, Peters Original and Maxibon.
PEP Fund IV purchased Peters from Nestlé in 2012. Since the acquisition, Peters has undergone a significant transformation driven by investment in its core brands, substantial new product development and improvement in operating costs, under the leadership of
Ogier has advised X2 on the launch of its new natural resources venture, X2 Resources Partners, a Guernsey closed-ended investment vehicle.
X2 Resources has been formed by the core executive team that built Xstrata into a USD50 billion mining major from a USD500 million debt-constrained company, led by former chief executive Mick Davis and chief financial officer Trevor Reid.
Its objective is to build a mid-tier diversified mining and metals group.
X2 Resources has raised USD2.5 billion of committed equity capital funding and up to a further USD1.25 billion of conditional equity capital funding, from a group of
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