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The SMP Partners Group has expanded its global network with the opening of a representative office in Dubai.
The long-established trust and corporate service provider officially opened the doors of its new representative office in the United Arab Emirates on 24 April.
Alongside its presence in Dubai’s Emirates Tower, the group has offices in Zurich and Hong Kong, as well as its headquarters in the Isle of Man.
The SMP Partners Group of companies comprises the provision of trust and company services, a large accounting and tax practice, fund administration services and ancillary administrative services. Employing more than
Private equity firm Avista Capital Partners has formed a joint venture with SEACOR Tankers, an operator of a fleet of seven US-flag Jones Act vessels transporting crude oil, petroleum and specialty chemical products.
Under the terms of the joint venture, ACP III Tankers LLC, a wholly owned entity of Avista, will fund a portion of the equity required for the design and construction of three 50,000 deadweight ton product carriers, each with 330,000 barrel cargo capacity, which SEACOR has contracted to build at General Dynamic's National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, California, with vessel delivery dates
Silver Oak Services Partners, a lower middle market private equity firm focused exclusively on service businesses, has made an investment in iSystems in partnership with the founders and management.
iSystems, headquartered in Colchester, Vermont, is a Software as a Service provider of payroll, tax and HR management software for service bureaus including independent payroll processors, banks and CPAs.
iSystems delivers payroll processing capabilities to service bureaus through its core software platform, evolution. The company then sells optional add-on modules around evolution, including employee self-service, payroll manager self-service, HRIS systems, benefit enrolment, check printing, data back-up, training services, help desk
Private equity firm Castle Harlan’s Partners V fund has agreed to sell Pretium Packaging to Genstar Capital.
Pretium Packaging, headquartered in Chesterfield, Missouri, is among the nation's largest manufacturers of customised, high-performance rigid plastic bottles and containers. With more than 650 customers, including global consumer packaged goods companies, as well as national, regional and local customers, the Company supplies a wide range of bottles and containers to food, personal-care, household, healthcare and pharmaceutical end markets. The Company currently operates ten manufacturing facilities, nine in the United States and one in Canada, employing more than 1,000 personnel.
Castle Harlan Co-President Bill
A new annual conference, which aims to reinvent the way the SME sector in Scotland is financed, has been launched by five of the country’s leading organisations.
Opportunity Knocks – co-hosted by RBS, Entrepreneurial Spark, Harper Macleod, Angels Den and Johnston Carmichael – is aimed at people involved in or interested in supporting a resurgence in Scotland’s start-up, early stage and SME business sector.
The event, being held in Edinburgh on 29th May, will bring together individuals interested in finding out more about their options – which include efficient ways to make the most of tax breaks – alongside start-ups,
The Jordan Company LP has held the final closing of its third private equity fund with commitments totalling USD3.2 billion.
The fund had a target of USD3 billion, but reached its hard cap. In demonstrating a continued alignment of interest with its investors, the General Partner committed over USD200 million of capital to The Resolute Fund III.
As with the firm’s two predecessor funds, The Resolute Fund III will target middle market companies across a variety of industries, including industrial products and services, energy, chemicals, healthcare, and financial services, with enterprise values between USD100 million and USD2 billion.
Global alternative asset manager The Carlyle Group has completed the acquisition of ITW’s Industrial Packaging Group, renamed Signode Industrial Group, for USD3.2 billion.
Signode Industrial Group is a leading global supplier of industrial packaging consumables, tools and equipment. The company’s products secure and protect industrial and consumer goods during manufacturing, storage and transit via commercial trucks, railcars, ocean ships or airfreight. As a leading company in the industrial packaging industry, Signode Industrial Group will build on a foundation of supporting brands with more than a century of outstanding performance.
“We are excited to invest in Signode Industrial Group and believe
UK AIFMD depository INDOS Financial Limited (INDOS) has extended its FCA authorisation to include the depositary duties of cash flow monitoring and verification of other assets.
The addition of these duties to the firm’s existing depositary oversight authorisation enables INDOS to provide a complete depositary-lite solution to alternative investment fund managers seeking to market their funds to European investors from July 2014.
Bill Prew, CEO of INDOS, says: “The extension of our permissions is another major milestone for INDOS. It comes at a time when pressure is building on managers to appoint depositary providers. The FCA recently reminded managers that
Private equity firm Levine Leichtman Capital Partners has completed the previously announced acquisition of the products division of the material handling business of FMC Technologies, Inc. (NYSE: FTI).
The new company will be named Syntron Material Handling, LLC ("Syntron").
Headquartered in Tupelo, Mississippi with operations in Changshu, China and Salt Lake City, Utah, Syntron is a leading manufacturer of a diversified product line of conveyor and vibratory equipment used to load, transport and feed bulk materials. The Company's products are sold to customers throughout the world in the mining, aggregates, packaging and food industries.
Senior debt financing was provided by
Benhamou Global Ventures, a Silicon Valley based early-stage venture capital firm, has held the first close of funding for BGV II LP.
The fund is focused on seed and early stage investing in enterprise technology including security, cloud-based services, web scale infrastructure, mobility and the emerging Internet of Things.
Benhamou Global Ventures has already made its first investment from BGV II in Qubell, a company providing application deployment and configuration management for web-scale applications. Founded by repeat entrepreneur and enterprise cloud pioneer, Victoria Livschitz, Qubell brings true agility and speed to enterprises online commerce operations.
"As the transformation of the
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