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High Road Capital Partners has appointed Steven Siwinski as partner and Scott Rubino as vice president.
Siwinski will serve as a finance operating partner, responsible for implementing financial best practices, value creation initiatives, and add-on acquisition integration plans across High Road’s portfolio companies.
Siwinski was most recently a finance operating partner at Marlin Equity Partners. He began his career at Ernst & Young, where he rose to partner in the transaction advisory services practice, and subsequently held positions at The Hain Celestial Group and FTI Consulting.
Rubino will be responsible for new platform acquisitions and portfolio company add-ons,
Private equity firm Thoma Bravo is to acquire TravelClick, a provider of revenue generating cloud-based solutions for the USD500bn global hospitality industry.
Thoma Bravo has agreed to acquire TravelClick from Genstar Capital for USD930m. The transaction is expected to close in the second quarter of 2014.
“The acquisition of TravelClick is consistent with Thoma Bravo’s strategy of investing in market leading companies with significant recurring revenue streams,” says Holden Spaht, managing partner at Thoma Bravo. “Larry Kutscher and his team have established an impressive track record of growing TravelClick rapidly and expanding the company’s services to its customers. We
An affiliate of Austin, Texas-based Peak Rock Capital has acquired the industrial products division of RJF International Corporation, creating ProFusion Industries.
Based in Marietta, Ohio, ProFusion Industries has established a long-standing customer base of Fortune 1,000 companies through manufacturing capabilities that provide engineered solutions under a wide range of demanding environments and conditions.
In particular, the company's product portfolio includes transit matting, protective linings, custom design specialty film products and various printing services.
Anthony DiSimone, CEO of Peak Rock Capital, says: "We are pleased to support ProFusion Industries and its employees in building a leading manufacturer and distributor
Fine foods company Labeyrie, backed by LBO France, has issued EUR275m of senior secured notes due 2021, priced at par with a 5.625 per cent coupon.
The proceeds, combined with cash on hand, will be used to repay in full the company’s financing arrangements – EUR160.6m of term loans, EUR35.2m of senior mezzanine bonds and EUR28.5m of junior mezzanine bonds.
They will also be used to repay subordinated shareholder convertible bonds (EUR52.1m and EUR7.4m, leaving roughly EUR21m outstanding), and to redeem senior mezzanine warrants (EUR1.1m).
The firm will also enter into a EUR80m three-year factoring facility agreement and
Fixed purchase prices are being agreed in an increasing number of corporate transactions in Europe, according to the sixth CMS European M&A Study.
The study reveals that last year the parties agreed a fixed purchase price without scope for adjustment in more than half of all deals.
In the US, however, there was a trend in the opposite direction, with over 85 per cent of transactions containing a variable purchase price. This variation of approach highlights just one of the many differences between European and US market practice.
In its study, CMS reviewed over 2,000 non-listed public and
Jae Chul (JC) Lee has joined Loeb & Loeb’s Hong Kong affiliate, Pang & Co, as a partner in the capital markets department.
Most recently, Lee was a partner in the Hong Kong office of DLA Piper.
“Asia remains an important global business centre and a key market for our strategic growth, particularly within the capital markets and corporate arenas,” says Loeb & Loeb chairman Michael D Beck. “JC’s addition to our affiliated office in Hong Kong reflects our commitment to giving our clients greater access to the market’s top legal talent.”
Lee represents numerous Korean companies and
European-based Ipes and US-based Standish, providers of fund services to managers of private equity, venture capital, real estate and fund of funds, have formed a partnership.
Under the partnership, Standish and Ipes will work together to share their specialised private equity knowledge, experience and contacts in their respective US and European markets.
As a result, both firms and their clients will benefit from enhanced cross-jurisdictional capabilities and access to a transatlantic network.
Standish’s clients will be able to gain access to Ipes’ corporate services and European regulatory expertise.
The new alliance gives US-based fund managers access to
Ogier, along with DLA Piper as lead counsel, has advised online fashion retailer Boohoo.com on its corporate reorganisation and subsequent AIM listing on 14 March.
Boohoo raised GBP300m through its initial public offering and had a market capitalisation of GBP560m at the placing price.
Boohoo is one of the UK's largest pure-play online own brand fashion retailers which provides fashion to customers in over 100 countries worldwide. The company plans to extend its reach into existing and new territories including the US, Central Europe and Scandinavia. The funds raised in the AIM listing will help the company accelerate the
Global institutional trading network Liquidnet is planning to enter the fixed income market with its acquisition of bond trading platform Vega-Chi.
The partnership, subject to regulatory approval, will combine Liquidnet’s experience, scale and global reach within the institutional investment community with Vega-Chi’s corporate bond trading platform and sector expertise to accelerate efficiencies within the corporate bond market.
“There has been a massive increase in corporate bond issuance and at the same time a depletion of capital that dealers can use to facilitate trading. The result has been increasing difficulty among investment managers and dealers in accessing liquidity. To fix
Impetus – The Private Equity Foundation (Impetus-PEF) has appointed Hanneke Smits, chief investment officer of Adams Street Partners, to its board of trustees.
Smits (pictured) takes up her position with immediate effect.
Impetus-PEF brings strategic resources to high-potential charities and social enterprises working to improve the lives and prospects of children and young people living in poverty in the UK. It uses a venture philanthropy model, consisting of management support from the Impetus-PEF investment team, pro bono business expertise and long-term funding, to support and then improve the capacity of charities in the areas of educational attainment and work readiness.
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