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Karnov Group, the Scandinavian information and business intelligence provider backed by GMT Communication Partners, has secured a DKK510m refinancing.
Karnov provides legal, tax and accounting information to businesses in Demark and Sweden and was acquired by GMT, the European TMT-focused private equity group, in 2011 from Thomson Reuters.
Since the acquisition, Karnov has pursued an ambitious strategy that has transformed the business from a 20th century publisher into a modern information technology company. In addition to bringing in a new chairman, CEO and management team, the company has pursued a customer-centric approach, focusing on the integration of premium information
Law firm Baker & McKenzie has published the latest edition of Private Equity Insights, an annual look at some of the key trends and developments in the global PE industry.
With contributions from Goldman Sachs, Investec PE, J-Star, EQT, Riverside and many other industry commentators, Insights profiles some of the successful strategies currently being employed by funds, investors, management and companies.
Simon Hughes, global chair of Baker & McKenzie's private equity group, says: "There is no doubt that private equity has been through a reboot. This report spotlights the ongoing challenges as well as the opportunities but all the indications
Transom Capital Group has sold Uncle Milton Industries to KCB Management.
The sale represents Transom Capital's second successful exit within the last 12 months.
Founded in 1946, Uncle Milton creates, develops and markets science and nature-based toys for children of all ages.
Uncle Milton's flagship Ant Farm ant habitat was first introduced in 1956. Since then, Uncle Milton has broadened its portfolio of proprietary and licensed product lines including the In My Room, Star Wars Science, and National Geographic brands.
Uncle Milton distributes its toys through a wide range of retail channels including mass merchant, specialty toy,
The Irish Funds Industry Association (IFIA) has noted a significant uptake in applications by fund managers seeking authorisation in Ireland under the new Alternative Investment Fund Managers Directive (AIFMD).
According to information released from the Central Bank of Ireland (CBI) to the IFIA, applications from 72 fund management firms are being processed at present, with 11 AIFMs already authorised by the Central Bank of Ireland. In recent weeks 47 applications have been received.
The CBI now believes it will be exceeding its initial expectations and processing up to 90 applications between now and the deadline on 22nd July 2014.
The Carlyle Group is to acquire a 100 per cent stake each in Tyco Fire & Security Services Korea and its subsidiaries (ADT Caps, Capstec and ADT Security) from Tyco in a USD1.93bn deal.
The transaction is the largest private equity buyout deal in US dollar value in Korea since 2008. The transaction is subject to customary closing conditions including required regulatory approval and is expected to close in the second quarter of 2014.
ADT Korea is a provider of advanced security solutions in Korea, serving approximately 475,000 small-and-medium-sized businesses, commercial and residential customers. The business provides central monitoring
The recent fixings of the People’s Bank of China (PBoC) caused the Chinese Renminbi to depreciate one per cent over one week. This has raised worries about the forecast of a continued, long-term, structural currency appreciation in China, says Asoka Wöhrmann, Co-Chief-Investment Officer at Deutsche Asset & Wealth Management (DeAWM)…
There are two potential motivations behind PBoC’s recent behaviour: On one hand, the PBoC’s fixing could indicate a change in the monetary policy due to concerns about GDP growth and competitiveness. On the other hand, the depreciation could be driven by the PBoC’s attempt to stem speculative inflows into China.
The
Private equity fund Teakwood Capital has closed Teakwood Capital III, accepting subscriptions of USD90m on a target of USD75m.
The fund secured commitments from endowments and institutional investors as well as family offices.
Fund III closed in six months without a placement agent.
"We are very pleased with the progress we've made building Teakwood Capital into a high-performing private equity firm. Teakwood brings together superior deal flow and decades of expertise in rapidly growing companies, and when combined with world-class management teams, Fund III allows us to double-down on a proven strategy,” says Shawn Kelly, managing director of
KKR, together with management, has acquired majority ownership of Sedgwick Claims Management Services for USD2.4bn from previous investors Hellman & Friedman and Stone Point Capital.
Additionally, Stone Point Capital has joined the investment as a minority equity partner.
"With the strategic resources of KKR now in our corner, the future of Sedgwick has never looked brighter," says David A. North, president and CEO of Sedgwick. "Further, that our longtime partner Stone Point Capital has chosen to invest in Sedgwick for the third time demonstrates their confidence in our business model and industry-leading best practices. My colleagues and I look
The Resolute Fund, together with certain additional funds managed by The Jordan Company, has completed the sale of Haas Group to Wesco Aircraft Holdings for USD550m in cash.
Resolute made its initial investment in the growing and under-penetrated chemical supply chain management (CSCM) industry with the acquisition of ICMS Holdings (d/b/a Avchem) in 2006, and increased its investment in CSCM through the acquisition of four targeted businesses – including Haas TCM in 2007.
The combined entities, which conduct business as Haas, provide global chemical supply chain management and integrated supply solutions for the commercial aerospace, airline, military, energy, and
Private equity funds managed by Blackstone will inject EUR150 million of fresh capital into GIVI Holding SPA and Gianni Versace SPA (together Verscae) and will acquire EUR60 million in stock from GIVI in the process.
Versace chose Blackstone to participate in the next phase of the Company’s development after a rigorous process of selection. On completion of the transaction Blackstone will own 20 per cent of the Company – implying a total enterprise value of EUR1 billion – and it will have one seat on the Company’s Board.
The Versace family will remain at the heart of the Company, with Allegra
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