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Hy-Bon Engineering Company, a portfolio company of Pfingsten Partners, has been acquired by Regal Beloit Corporation (RBC). Baird acted as the exclusive financial advisor to Hy-Bon on the transaction. Terms of the deal have not been disclosed.   Baird’s deal team was led by Joe Packee, managing director, who says: “As the US expands its energy production, there is a need to implement products and services that capture ­ and ideally re-use ­ the gases that are discharged as a part of this production and related storage. With an increased focus on the economic benefits and the environmental and safety
Survey
Private equity professionals say developing a strong brand is increasingly important when it comes to investing in companies and hiring employees, according to a study by BackBay Communications and PitchBook. “For fundraising, deal sourcing and attracting employees, a recognised and trusted private equity brand makes it easier for firms to succeed in a very competitive market,” says Bill Haynes, president, BackBay Communications. “Private equity firms are increasingly coming to recognise how important it is to build a strong brand and actively manage their firm’s reputation.”   The study, Private Equity Brand Equity III, surveyed 290 private equity general partners, limited
UK online contact lens retailer GetLenses.co.uk has acquired Dutch online retailers Vision Direct and Lensbase, which sell contact lenses and prescription glasses to consumers in the Netherlands, Spain and the UK. The acquisition was financed by a new funding round led by existing shareholder Octopus Investments and included Fidelity Worldwide Investments, Hargreave Hale and Artemis Investment Management.   The combined entity is expected to generate revenues of over EUR30m in 2014.   GetLenses is the largest online contact lens retailer in the UK, offering competitive prices and next-day delivery on an extensive range of prescription contact lenses. In addition to
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Kantox, an FX firm offering SMEs and mid-caps a foreign currency exchange solution via a peer-to-peer (P2P) trading platform, has secured EUR6.5m of new series A funding. The increase in capital will be used to further develop its technology and consolidate its presence across Europe, providing more clients with a cost-effective alternative to trading FX with banks and brokers.   Partech Ventures and Idinvest Partners led the funding round alongside existing investor Cabiedes & Partners.   “We are extremely excited to have secured this latest round of funding, and can’t wait to continue building out our sales teams in Germany,
Wind farm
Albion Community Power (ACP) has invested GBP1.5m in partnership with Welsh developer Infinite Renewables to fund the development of a 500kw single wind turbine in Blaencilgoed, in South Wales. The wind turbine, which is the first investment made by ACP, will supply electricity to a local quarry.  It is expected to produce its first power in September and is predicted to generate over 1,700,000 kWh of electricity per year.   ACP aims to be a major producer of community scale renewable energy by raising up to GBP100m in due course to power some 35,000 homes, targeting sites where power can
Irish flag
The Central Bank of Ireland has confirmed that it will, with immediate effect, recognise the ability of authorised alternative investment fund managers (AIFMs) to passport the services described in Article 6(4) of the alternative Investment Fund Managers Directive (AIFMD). Under the AIFMD, Member States are permitted to authorise AIFMs to provide certain investment services in addition to the collective management of alternative investment funds (AIFs), including management of portfolios of investments, investment advice, safekeeping and administration in relation to the shares or units of collective investment undertakings and reception and transmission of orders in relation to financial instruments.   These
British pounds
Private equity and alternative asset manager Maven Capital Partners has led the GBP7.25m management buyout of SPS (EU) Limited from 4imprint Group. Blackpool-based SPS is a supplier in the promotional merchandise market, with over 20 years’ operating history.   With current turnover of GBP17m the business has experienced growth over recent years, stemming largely from the company’s focus on new product development, product sourcing, investment in branding technology and a commitment to operational and service excellence.   SPS is the UK’s largest provider of promotional merchandise, supplying to over 2,000 independent distributors in both the UK and Europe.   The
White & Case has advised Falcon Group, a consortium of investors 75 per cent controlled by funds managed by Mid Europa Partners, on the sale of its EUR828m stake in T-Mobile Czech Republic to Deutsche Telekom.  The deal is expected to close by the end of February.   Budapest-based White & Case partner Rob Irving, co-head of the firm’s EMEA private equity practice, says: “We are very pleased to advise Mid Europa and Falcon Group generally on this successful exit. This is the culmination of more than three years of work for Falcon Group, including the EUR574m sale of Ceske
Luca Paolini, Pictet Asset Management
The bond rally is to run out of steam and investors should stay overweight equities, according to Luca Paolini (pictured), Chief Strategist at Pictet Asset Management… The New Year has begun with investors experiencing a reversal of the trends they saw in 2013.   Growth momen­tum remains solid and inflation is largely under control. What is more, stocks’ cur­rent valuations and the Fed’s decision to reduce monetary stimulus do not loom as a hindrance to equity investors.   Investors can therefore maintain a modest overweight in equities and some other riskier asset classes. While we expect developed market stocks to deliver
Wind farm
Ventus VCT plc and Ventus 2 VCT plc have issued a joint offer for subscription for D shares to raise up to GBP20m. Proceeds raised will be split equally between the two venture capital trusts and invested in an existing pipeline of wind and hydro projects by investment manager Temporis Capital.    The captive projects make it possible to fully deploy the capital raised within 12 months.    Investors in the D shares will have a targeted minimum annual dividend of 5p per share from year two onwards; accounting for tax reliefs embedded in the VCT structure, this would amount

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