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Milbank, Tweed, Hadley & McCloy has represented Swiss private equity firm Partners Group in making a majority investment in Mexico’s leading gas infrastructure firm, valued at approximately USD750m.
Partners Group is acquiring a majority stake in Fermaca, which owns and operates gas pipelines and related energy assets in Mexico.
Fermaca pipelines have capacity to ship one-fifth of Mexico’s natural gas needs, including supplies originating in the US.
Spurred by Mexico’s recent initiatives easing restrictions on foreign investment in its natural resources, Partners Group says it expects Fermaca to expand its gas transmission activities.
Based in
The German market for mergers and acquisitions (M&A) looks set to burst into life, with an increase in deal activity expected.
Corporate transaction managers are flush with cash and coming under growing pressure to invest, but also face tougher competition from the private equity camp.
These are the key findings of the latest survey of the M&A panel polled now for the tenth time by CMS Hasche Sigle and FINANCE magazine. The heads of the M&A departments at German companies plus leading investment bankers and M&A consultants provide anonymous assessments of the market for the survey.
Following the
Iluka Resources has concluded an investment agreement with the private UK-based Metalysis Limited for an interest of 18.3 per cent of the company.
Metalysis has demonstrated that it is able to produce titanium powder directly from Iluka’s main high grade titanium feedstock products of rutile.
Iluka’s managing director David Robb says: “Iluka’s involvement as a major shareholder and funding partner provides Iluka shareholders with access to a new, potentially disruptive technology which is close to commercialisation, and the potential benefits of a new source of high grade titanium dioxide feedstock demand, as well as a commercial involvement in a
AIM-quoted China Private Equity Investment Holdings has been renamed Adamas Finance Asia (AFA).
The company’s new AIM ticker is ADAM.
The renaming follows the completion of an agreement announced last December which sees control pass to the Hong Kong-based asset management group Adamas Asset Management.
Adamas has approximately USD500m under management.
Adamas’ investment professionals will provide AFA with investment management services and with access to consistent deal flow. Their investment policy will target SMEs needing capital in Asia, with a focus on Greater China. Transactions will be structured as senior debt, bridge loans, mezzanine finance and other
Private equity fund managers believe pricing will be their most significant challenge in 2014, according to the fifth annual PErspective private equity study by BDO USA.
When asked to rank the challenges private equity firms will face in the coming year, 39 per cent of fund managers cite pricing as their most significant hurdle, a marked uptick from just 15 per cent of respondents who says the same in last year’s study.
This coincides with rising purchase price multiples, which increased to approximately 9.8 times EBITDA in 2013, up from 8.3 times in 2012, according to Preqin.
The
Ardian, formerly AXA Private Equity, has acquired a 49 per cent stake in Micropross, a provider of smart card testing solutions and communicating objects.
The transaction was completed alongside Philippe Bacle, CEO, and Max-André Lepoutre, managing director, who continue to lead the company and retain a majority stake in the company.
Founded in 1979 in Lille, France, Micropross supplies products and solutions for the smartcard industry.
Following a 2008 management buy-out led by Bacle and Lepoutre, Micropross has enjoyed a strong period of growth. Eighty per cent of the group’s sales now achieved outside France.
Bacle says:
Construction has been completed at three solar farms in Southwest England owned by investors in the first Ingenious Renewable Energy EIS Fund.
The Ingenious Renewable Energy EIS Fund raised GBP31m in 2013.
Around 85 per cent of the fund has been deployed so far, with close to half of the funds invested into the development and construction of these three solar farms, which will start to generate a total of 21 MWhp additional electricity per year.
The Ingenious Clean Energy team, which established and manages the EIS Fund, has been managing the construction of the assets alongside British Solar
Polaris Private Equity has signed an agreement to acquire Louis Poulsen Lighting, a supplier of architectural lighting, and the company’s subsidiaries.
Louis Poulsen manufactures and sells lighting fixtures – including the iconic “PH” lamps – to private consumers and professionals.
The company’s current owner – Italian Targetti Sankey Group – acquired Louis Poulsen in 2007 from shareholders including Polaris, which had owned the company since 1999.
“We are pleased that, in Polaris, we have a financially strong owner with extensive knowledge of our business and the ability to give Louis Poulsen the best conditions for focusing on continued
Middle market private equity firm Genstar Capital Management has appointed Tom Hutton and Mitch Vernick to the company’s strategic advisory board.
Both will work closely with the firm's financial services segment to identify and evaluate new investment opportunities and actively support current and future investments.
J Ryan Clark, a managing director at Genstar, says: "We are very pleased that Tom and Mitch have agreed to join our strategic advisory board. We have been working informally with each of them for the past five years and these appointments are in recognition of their contributions and our confidence that they will help
Private equity fund manager Kerogen Capital has published its Environmental, Social and Governance (ESG) Policy Statement.
The statement details the company’s commitment to good governance, to high environmental standards and to positive engagement on social issues.
Kerogen believes that adherence to ESG principles is a central commercial priority in creating sustainable value for its portfolio of companies and its investors.
The Policy Statement demonstrates to stakeholders the role that the private equity model can play in promoting ESG considerations in the oil and gas industry and the value that can be unlocked through implementing them.
Kerogen is
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