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US retail and consumer (R&C) total transaction value for 2013 surpassed USD100bn for the first time since 2008, according to PwC's US retail and consumer deals insights 2013 Year in Review and 2014 Outlook report.
Deals in the food and beverage sector and private equity (PE) investment in the apparel, footwear and accessories sector continued to drive activity in the R&C industry.
The report finds that transaction value for announced deals with values greater than USD50m was USD107bn, up 32 per cent from USD81bn in 2012 – and this five-year high was due largely to the USD28bn Berkshire Hathaway/3G
HIG Capital has closed HIG Middle Market LBO Fund II at its USD1.75bn cap.
The fund will continue HIG Capital’s investment strategy of focusing on private equity, buyout and equity-related investments in middle-market companies primarily in the US.
Sami Mnaymneh and Tony Tamer, co-founders and managing partners of HIG Capital, say: “We value the strong relationships we maintain with our existing investors, which enabled us to raise the fund quickly and resulted in the fund being significantly over-subscribed.”
Brian Schwartz and Rick Rosen, executive managing directors of HIG Capital, add: “With the new fund, we will continue to
RatedPeople.com, the UK online marketplace connecting homeowners with recommended local tradesmen, has closed a GBP6.5m pre-IPO investment round, advised by N+1 Singer.
Since its inception in 2005, UK homeowners have posted 2.4 million jobs on RatedPeople.com, spanning 30 home improvement categories from building and roofing, to plumbing, electrical, and gardening work.
The company had revenues growing to GBP12m in 2013.
The pre-IPO round comprises of GBP5.5m of new equity investment co-led by RatedPeople.com’s existing investor Frog Capital (Frog), along with GBP1m of venture debt from Silicon Valley-based Western Technology Investment (WTI).
Since 2011, when Frog first invested,
Profit Recovery Partners’ (PRP) revenue grew 25 per cent in 2013.
With demand for the company's cost-reduction and supplier management services expected to continue, the company is targeting to grow another 29 per cent in 2014.
One factor driving significant demand for PRP's services is the changing regulatory environment, which has focused intense scrutiny on companies' internal controls.
A recent report by the Public Company Accounting Oversight Board found internal controls to be lacking in roughly 30 per cent of the audits it inspected. As a result, external auditors are requesting more detailed documentation from companies to show
SunGard has launched Asset Arena Data Connect, a fully automated order processing and control solution for hedge fund managers, private equity firms and fund administrators.
Asset Arena Data Connect helps firms manage incoming and outgoing alternative investment data as well as scheduling and monitoring of data processing – increasing straight-through-processing (STP) and transparency.
Delivered as a hosted solution, SunGard’s Asset Arena Data Connect enables customers to quickly use alternative investment processing platforms including the Depository Trust Clearing Corporation’s (DTCC) National Securities Clearing Corporation’s (NSCC) automated and centralised Alternative Investments Platform (AIP).
It may be used with any record-keeping
Debu Purkayastha has joined Octopus Investments’ ventures team as entrepreneur-in-residence.
Purkayastha joins Octopus following six years at Google, where he held senior roles globally in its M&A, investments and new business development teams.
In his role as entrepreneur-in-residence, Purkayastha will be working with the team at Octopus to identify new investment opportunities and support the entrepreneurs and management teams in the portfolio to help them develop and realise the full growth potential of their businesses.
Purkayastha has over 20 years of experience and has worked internationally across three different continents. At Google, initially as principal of corporate development,
ARX Equity Partners and Darby Private Equity, together with food industry executive Gerard Lenihan, have completed the buyout of Gramex 2000 Kft.
Financial details of the transaction have not been disclosed.
Gramex is a Hungarian manufacturer and bottler of non-alcoholic beverages, providing products under its own brands, as well as in partnership with local and international retailers and A-brand producers.
ARX, Darby and Lenihan intend to grow Gramex in the coming years organically, via regional expansion.
Among other previous executive roles, Lenihan was also the CEO in a private equity-backed management buyout in Hungary in 1996.
Huron Capital Partners has formed a partnership with industry executive Phil Bomrad to build a platform company in the energy services industry.
Through a holding company, Albireo Energy, Huron will invest in and partner with regional and niche energy service providers to build a business in energy efficiency and grid services for commercial and institutional buildings.
The new company will provide holistic energy solutions to building owners that lower operational costs and the environmental impacts of their buildings.
"We are excited to partner with Phil on this exciting opportunity," says Jim Mahoney of Huron. "There has been significant growth
High Road Capital Partners has completed the acquisition of New York-based General Tools & Instruments, marking High Road Capital Partners Fund II’s third platform acquisition.
Founded in 1922, General Tools & Instruments is a designer and developer of precision specialty hand tools and handheld test instruments for consumers and professionals.
General Tools & Instruments’ products are available in big-box and specialty retailers including Home Depot, Lowe’s, Sears, Ace Hardware and True Value Hardware stores, and through industrial distributors such as Grainger, MSC Industrial Supply and McMaster-Carr.
“General Tools & Instruments has a solid position as a leading provider
Tikehau Investment Management has arranged a bond financing allowing MK2 Group to diversify its funding sources and continue its development.
This transaction is fully subscribed by Novo 2, one of the two funds created by a consortium of insurance companies, to provide up to EUR1bn in total funding to mid-market corporates in France.
Created in 1974 by Marin Karmitz, MK2 Group has become one of the leading movie theatre chains in Paris, operating 65 screens within 12 multiplex cinemas. Its development plan is organised around three activities: operating movie theatre, marketing films and communication agency activities.
Nathanaël Karmitz,
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