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Law firm White & Case has advised private equity firm Rhône Capital on the acquisition by its affiliates of ASK Chemicals from Ashland and Clariant.
The transaction is expected to close by the end of the third quarter of 2014 subject to standard conditions, including regulatory approvals.
“We are very pleased to have supported Rhône on this significant acquisition,” says London-based White & Case partner Ian Bagshaw, the firm’s EMEA co-head of private equity who led the team of lawyers which advised on the deal. “The global nature of ASK and the tight execution timetable meant that the deal
Tendyne Holdings has secured USD25m in an oversubscribed Series C financing led by Apple Tree Partners, along with Boulle Group members and other existing investors.
Proceeds will be used for validation of Tendyne's novel Transcatheter Mitral Valve Implant to treat mitral regurgitation, including forthcoming clinical trials.
"This financing is a significant milestone for Tendyne. In 2013 Tendyne demonstrated positive human data and this infusion of capital allows us to move ahead confidently as we accelerate our minimally invasive mitral valve programme," says Jeff Franco, founder and CEO of Tendyne. "We are excited to have Apple Tree Partners come on board.
Israeli private equity company Viola Group has increased its ownership stake in RRsat Global Communications by acquiring an additional 6.6 per cent interest from Kardan Communications L for a total investment of USD9.4m.
"The increased ownership position reflects a significant, ongoing vote of confidence by a leading private equity investment group," says Avi Cohen, RRsat's chief executive officer.
Following this transaction, Viola Group owns approximately 28.6 per cent of RRsat's shares. This latest acquisition by Viola Group follows its previously reported acquisitions during 2013 of 15 per cent of RRsat's shares from Kardan Communications and seven per cent of
Berlin-based sociomantic labs has been acquired by dunnhumby Ltd, a subsidiary of the London listed Tesco, the world's third largest retailer.
Sociomantic offers real-time bidding advertising solutions for online advertisers in 60 countries.
An international team at CMS, led by partners Jörg Zätzsch and John Hammond, advised the founders of Sociomantic on the sale, which is one of the largest exits to date in the German start-up scene.
"The German start-up landscape is still pretty attractive for both domestic and foreign investors. For Berlin's entrepreneurs, this is a landmark transaction," says Zätzsch.
Sociomantic was established in 2009.
Jason Allison has joined Walkers’ Cayman Islands office as a partner in the global investment funds group.
Allison, an offshore investment funds practitioners, has close to ten years' experience advising on Cayman Islands law.
After spending over five years at Freshfields in London, he commenced his Cayman Islands career with Maples and Calder in 2004, becoming a partner there in 2007. In 2012, Allison left Maples and Calder to help establish the Cayman Islands office of another international offshore law firm.
Allison advises on Cayman Islands corporate and investment funds law, with particular expertise advising institutional clients on
Independent private investment company Ardian has appointed Tobias Gewolker as a director in the infrastructure team based in the firm’s Paris office.
Ardian’s infrastructure team, led by Mathias Burghardt, invests in core infrastructure assets and partners with leading industrial players across Europe.
Last year it raised EUR1.75bn for Ardian’s Infrastructure Fund III.
Gewolker (pictured), a German national, has more than 13 years’ investment banking experience in the City of London, with a focus on energy and infrastructure.
Prior to joining Ardian, he worked at DC Advisory, preceded by four years at Barclays Capital. Recent mandates have included
Renewed vigour in the European IPO market has meant cash raised by companies going public in the first quarter of 2014 has exceeded Q1 values for the previous four years in aggregate, generating EUR11.4bn.
That’s according to PwC’s latest IPO Watch report.
This comes in the wake of 2013 European IPO proceeds increasing by 135 per cent to EUR26.5bn.
The increase follows a busy final quarter of 2013 which saw over 100 companies successfully float and accounted for more than half the total proceeds raised for the whole year.
Richard Weaver, capital markets partner at PwC, says:
TCA Fund Management Group is planning to float the TCA Global Credit Fund through an AIM IPO as a new London listed, closed-end investment company.
The IPO will be structured as a feeder fund and aims to raise USD25m, marketed at both institutional and retail investors.
The fund, which is a short duration, absolute return fund specialising in short term senior secured lending to SMEs, is targeting a six to eight per cent annual dividend payment to shareholders on a quarterly basis (two per cent per quarter).
The Master Fund has a solid four year track record, exceeding
IK Investment Partners’ IK VII Fund has invested in Ramuddenbolagen, a provider of temporary traffic control services in the Nordics.
The partnership between IK and the company’s founder and management will enable the business to grow and strengthen further.
Financial terms of the transaction are not disclosed.
Ramudden, founded in 2005 and based in Sundsvall and Gävle, Sweden, delivers products and services for temporary traffic control solutions, including the rental of essential equipment (such as traffic barriers and guide signs), traffic arrangement plans, education programmes, surveillance and maintenance services. The company is the leading specialist in Sweden and
Private equity firm Sycamore Partners has completed its acquisition of The Jones Group, a designer and marketer of clothes and shoes, in a transaction valued at approximately USD2.2bn.
"We are excited to have finalised the acquisition of The Jones Group and are confident this will be a long and successful partnership," says Stefan Kaluzny, a managing director of Sycamore Partners. "We look forward to working with The Jones Group team to continue to grow this outstanding portfolio of businesses and brands and create exceptional products for our customers."
Wesley R Card, The Jones Group chief executive officer, says: "We
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