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Private equity firm Cyprium Partners has exited from its investment in Alpha Sintered Metals (ASM), through a sale of the company to management and O2 Investment Partners.
Headquartered in Ridgway, Pennsylvania, ASM is a manufacturer of high-precision powder metal components for the automotive, small engine, recreational vehicle, lawn and garden, commercial vehicle and agricultural equipment industries.
In addition to its original subordinated debt and equity position, Cyprium invested additional capital in ASM to allow the company to establish off-shore manufacturing operations as well as to facilitate the acquisition of a competitor in the stainless steel exhaust and turbocharger components
Pan-European mid-market private equity fund Agilitas has invested in the management buyout of the waste management businesses of Impetus Waste Management, a waste management and property group in the North-East of England.
The consideration for the acquisition is not being disclosed. Impetus was founded in 2003.
In 2007 Ian Hunter became the majority shareholder of Impetus. Along with the existing management team he has grown the group to become one of the largest waste management companies in the North East of England. The waste management business handles over 500,000 tonnes per annum of commercial, industrial and municipal waste through
Independent fund administration company Apex Fund Services has opened a Jersey office, expanding its presence in the Channel Islands.
Jersey, together with other Channel Island jurisdictions, has experienced significant growth in its fund servicing industry and in Jersey alone the sector is valued at approximately USD350bn with over 1,300 regulated funds.
Apex has itself experienced an increase in the level of interest being demonstrated by fund managers in Jersey. Jersey quickly took an opt-in approach to the AIFM Directive, giving global managers and investors reassurance and confidence about the regulatory controls that exist in the jurisdiction.
Following the opening
Private equity (PE) firms recognise the value of increased transparency and more effective data management, according to a research study by TABB Group.
But in a world that demands to be kept informed, those firms need an on-demand ability to transform data into useful, digestible, reportable information – intelligence that can be used to meet stakeholder demands and at the same time improve the quality of their decision-making.
The challenges for many of these firms, says Adam Sussman, a TABB partner and director of research who produced the study in collaboration with SunGard, are operational deficiencies preventing them from
Venture capital firm Accel Partners has appointed Eric Wolford as venture partner.
Most recently he served as president, products group for Riverbed Technology, and was recently appointed to the Riverbed board of directors as well as the board's strategy committee.
During his 10-plus years at Riverbed, Wolford led a number of functions including products, marketing and development that helped to take the company public and deliver growth from zero to USD1bn in annual revenue.
Wolford will be working closely with the Accel Partners enterprise IT and data-driven software investment team and will be responsible for evaluating and investing,
Alternative asset manager The Carlyle Group and Investec Asset Management have agreed to invest in J&J Africa, a pan-African logistics company specialising in the road transportation of general cargo along the Beira corridor, one of Southern Africa’s key trade routes.
Financial terms have not been disclosed. The transaction is expected to close in the first quarter of 2014.
Marlon Chigwende, managing director and co-head of the Carlyle Sub-Saharan Africa Fund, says: “Carlyle brings strong expertise working with companies in the transportation sector, along with deep experience in emerging markets, including Africa. We have a particularly strong track record in
Rollins has signed a definitive purchase agreement to acquire the assets and operations of Allpest, an independent pest control provider in Western Australia.
The acquisition is expected to close in February and is Rollins' first business venture in Australia.
Established in 1959 and headquartered in Perth, Allpest recorded revenues of approximately USD25m for 2013.
In addition to traditional residential, commercial and termite service offerings, Allpest provides consulting services around the globe on pre-border protection of Australia's biosecurity and provides specialised offerings to Australia's mining and oil and gas sectors.
Gary W Rollins, vice chairman and chief executive
Following a restructure, fiduciary and fund services specialist Abacus has formed the Abacus Financial Services Group.
The new group structure will include Abacus’ two entities in Malta, Abacus Financial Services (Malta) Limited (AFSML) and Abacus Corporate Services Limited (ACSL), and Abacus Financial Services Limited (AFSL) in the Isle of Man.
Former managing director of AFSML and AFSL Paul Kneen (pictured) will head the new group as chief executive officer. Martin Heaney has been promoted to managing director of AFSL.
Kneen says: “The formation of the Abacus Financial Services Group aims to advance the growth of business across the
Liquid private equity rose 39 per cent in 2013, as measured by the Red Rocks Capital Global Listed Private Equity Index (GLPE), outpacing major market indices and other alternative investments.
The GLPE Index is the largest, most widely followed private equity index, with more than USD500m in exchange-traded fund (ETF) tracking assets, and was the first investable US-based index to monitor global listed private equity companies.
GLPE puts an emphasis on direct private equity investing, overweighting direct investment vehicles and underweighting less direct investments such as business development companies and asset managers.
“It was a very good year
With over USD1trn in US mergers and acquisitions announced last year, the US remains the strongest M&A market.
According to PwC’s 17th Annual CEO Survey, acquisition strategies are ripe for change as CEOs become comfortable with their positioning in the changing deals arena, indicating a continued uptick in deal flow throughout the year.
As a result, more US executives are planning to maintain and pursue new joint ventures and business alliances in 2014 as they seek new ways of collaboration to accelerate growth and to capture innovative and disruptive technologies even faster. As companies continue to seek new ways
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