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An extremely active IPO market has impacted on UK private company mergers and acquisitions (M&A) resulting in a slow start for 2014 deals.
This has been further compounded by the ongoing political stand-off in Ukraine, which has led some investors to defer decisions in the short term, according to the latest quarterly PCPI/PEPI index from BDO Corporate Finance.
The index tracks the relationship between the enterprise value (EV) to earnings before interest tax depreciation and amortisation (EBITDA) multiple paid by trade and private equity buyers when purchasing UK private companies.
Despite widespread expectations that the growing confidence witnessed
Funds advised by Oaktree Capital Management have acquired all the shares in Railpool and Railpool Holding from HSH Nordbank and KfW IPEX-Bank.
The purchase price has not been disclosed.
A team from CMS Hasche Sigle led by Hamburg-based partners Dr Ludwig Linder and Dr Henrik Drinkuth advised HSH Nordbank and KfW IPEX-Bank on all aspects of the sales process relating to the Railpool Group. The firm has provided support to both banks on several occasions in recent years in relation to transactions and financing.
Railpool is a fast-growing company in the railway sector which has been leasing rail
e-Go aeroplanes, the UK’s first manufacturer of lightweight carbon fibre aeroplanes, has raised GBP950,000 in a second round of finance, surpassing its target of between GBP650,000 and GBP800,000.
This latest funding round follows the e-Go prototype’s first successful flight on 17 October 2013.
All existing investors are contributing again. In addition, a number of new supporters have joined, both directly and through the crowdfunding platform SyndicateRoom. The government-backed Angel CoFund is also making a significant investment.
Twenty investors backed e-Go aeroplane’s launch in 2011, among them UK aerospace leader Marshall of Cambridge. Now a further 60 investors have
Sunrun has raised USD150 million in equity financing, the largest private equity raise for a private residential solar company in the US.
A public institutional investor led the round with a USD100 million investment.
Existing and new investors provided the remaining USD50 million.
Sunrun will use the funds to broaden its reach to consumers and continue developing tools and technologies.
"Sunrun is adding 15 customers every working hour through our deliberate approach to sustainable growth that never compromises the customer experience. But, we are still in the first inning of a decades-long industry growth story," says Lynn
An affiliate of Equicapita Income Trust, a private equity fund, has acquired 100 per cent of the shares of Levy's Machine Works.
Based in Calgary, Alberta, Levy's is a custom design and speciality manufacturing company.
Founded in 1980, Levy's has been servicing a diverse customer base in the energy, electronics, medical, agriculture, aviation and instrumentation sectors for over 30 years.
The Levy's transaction closed on 7 May 2014.
Equicapita retained Ernst & Young and Burstall Winger Zammit as advisors. Ernst & Young provided accounting and financial due diligence support and Burstall provided legal due diligence and structuring
Private equity fund GCF has acquired 100 per cent ownership of Mktvari HPP project, a Georgian hydro power plant project, from JSC Caucasus Energy and Infrastructure (CEI).
The project’s total investment value is USD98m and its objective is to develop a hydro power plant with 53.3MW of total installed capacity.
An initial stage of construction work costing approximately USD22m has already been completed and GCF intends to commence the next phase immediately, with all works estimated to be finished by the end of 2017. This would include construction of the power house and reservoir, completion of tunnelling works, enlargement
Law firm Reed Smith has appointed partner Winston Penhall and associate Matt Evans to its funds group in London.
Both Penhall and Evans re-join Reed Smith following their moves to KPMG, in 2012 and 2013 respectively, where Penhall was the founder and leader of the KPMG funds law team.
Penhall has a broad funds practice, advising on the formation of alternative investment funds, including: hedge funds and private equity funds; the establishment of onshore and offshore investment managers; the review and negotiation of fund wrapped and managed account investments for institutional investors; and the drafting and negotiation of manager
Private investment firm Water Street Healthcare Partners has invested in Orgentec Diagnostika, a specialty diagnostics company headquartered in Mainz, Germany.
The investment expands Water Street's global presence in the growing specialty diagnostics sector, particularly in Europe and emerging markets.
Scott Garrett, former chairman and CEO of Beckman Coulter and senior operating partner with Water Street, will serve as chairman of Orgentec.
Water Street has committed equity to both acquire a majority position in Orgentec and invest in future acquisitions. Orgentec currently specialises in diagnostic assays for autoimmune and infectious diseases. It offers a portfolio of more than 300
Private equity fund EnCap Flatrock Midstream (EFM) has held the final closing of EnCap Flatrock Midstream Fund III.
Substantially oversubscribed, the fund exceeded its USD2.25 billion target and reached its USD3 billion hard cap within four months.
Fund III received strong support from existing limited partners of its predecessor funds and also attracted many new investors, including well-known corporate and public pension plans, family offices, insurance companies and university endowments and foundations.
EFM has a strong track record of investing value-added growth capital in the midstream segment of the North American energy industry. EFM III will follow the
Middle-market private equity firm American Industrial Partners (AIP) has completed the acquisition of SG Holdings I (SERVA) from Wexford Capital, an SEC registered investment advisor with over USD4 billion of assets under management.
Founded in 1991, SERVA is a designer and manufacturer of fracking equipment, coiled tubing equipment, and well intervention and workover equipment, all of which are integral to the development of high-growth unconventional crude oil and natural gas resources in North America and increasingly in China.
The company's products are sold primarily in the US and to an increasing degree in Asia.
SERVA manufactures and
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