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Gladstone Investment Corporation has invested USD13m in a combination of debt and equity to purchase Meridian Rack & Pinion, doing business as Buy Auto Parts.
Gladstone Investment, together with Digital Fuel Capital, a private equity firm focused on e-commerce and digital marketing, and Meridian's existing management team provided the capital in support of the acquisition of the business.
Jean-Pierre Gilbertz, the founder of Meridian, also continues to hold a sizeable stake in the company.
One of Gladstone Investment's affiliated companies, Gladstone Capital Corporation, also participated as a co-investor by providing USD5.6m of debt and equity financing on the
Lionel Leventhal has joined Houlihan Lokey’s illiquid financial asset (IFA) practice as a managing director and head of royalty and revenue interest financing.
He will focus primarily on royalty monetizations and revenue interest financings in the pharmaceutical, biotechnology, medical device, and diagnostics subsectors with a broader mandate to expand coverage into similarly structured illiquid financial assets in other industries.
He is based in New York.
Prior to joining Houlihan Lokey, Leventhal spent 14 years at Paul Capital, where he was a general partner and co-founder of Paul Capital Healthcare, the first fund platform focused on royalty/revenue interest financing
Affiliates of Roch Capital have acquired New Carbon Company, a provider of waffle and pancake mix to restaurants, hotels, colleges and other foodservice establishments, from PNC Riverarch.
The transaction also included investments by the New Carbon management team.
New Carbon was previously a portfolio company of PNC Riverarch Capital. Terms of the transaction were not disclosed.
Founded in 1937, New Carbon provides its Golden Malted brand waffle mix, along with waffle irons and related maintenance, to over 40,000 customer locations throughout North America and internationally. New Carbon’s customer base includes prominent national restaurant chains and lodging operators,
Ardian has committed EUR30m into F2i Second Fund, a fund operated by Italian infrastructure specialist Fondi Italiani per le Infrastrutture SGR (F2i).
The investment bolsters the relationship Ardian (formerly AXA Private Equity) has built with F2i.
F2i is an Italian operator and has a strong track record of consolidation and development across different Italian infrastructure sectors. Following the success of the inaugural fund, F2i launched the Second Fund in October 2012, raising EUR575m at first close. Subsequent commitments from Ardian and other investors have grown the fund to EUR740m.
The fund enjoys a broad investor base: credit institutions
Evaneos, an online specialist for tailored travel, has closed a financing round of USD6m through XAnge Private Equity and founding investor ISAI.
The investment will be dedicated to the European growth of the French start-up, already established in France, Spain, Italy and Germany.
Doubling its volume of sales each year, Evaneos hopes to continue this significant growth and triple its workforce in the coming years.
Eric La Bonnardière, CEO of Evaneos.com, says: "XAnge's interest for Evaneos.com demonstrates the validity of the concept and business model we invented four years ago, along with the international growth perspectives that
Gibraltar has become a full signatory to the Multinational Memorandum of Understanding (MMoU) of the International Organization of Securities Commissions (IOSC).
Nicola Smith, managing director of hedge fund administrator Helvetic, says: “This is a significant move as it bolsters Gibraltar as a location for international hedge funds looking for a geographic foothold within the AIFMD zone."
The passport system established under the Alternative Investment Fund Managers Directive allows funds to operate throughout the EU once they have received regulatory approval in one member country. The result has been an increased level of interest from international fund managers seeking territories
An investment consortium led by Pembroke VCT, with support from Lepe Capital, has acquired specialist publishing and events group Boat International Media from August Equity.
Financial details of the deal have not been released but the purchase price is believed to be just in excess of GBP10m.
Pembroke is a venture capital trust, which specialises in investing in high growth consumer-facing businesses. Lepe Capital is a growth capital investor that specialises in media and consumer sectors. The consortium also includes several other private investors including Charles Dunstone and Tara Getty.
Boat International Media provides information and services across
Berkshire Partners, the Boston-based investment firm, has appointed Jon Meyer and Anil Seetharam as managing directors effective 1 January 2014.
They join the 17 current managing directors of Berkshire in managing the firm and its affiliated investment funds.
Meyer and Seetharam will continue in their current roles within Stockbridge Investors, the investment group within Berkshire that focuses on marketable securities.
Meyer originally joined Berkshire in 1999 as a private equity associate. Before re-joining the firm in 2008 as a member of the Stockbridge investment team, he served as a managing director for Farallon Capital Management, where he focused
As the relentless bull market march in equities continues, alarm bells are ringing in many bear camps around the world, says Peter Garnry (pictured), head of equity strategy, Saxo Bank.
The talk is that equities are overvalued and many different indicators such as P/E Shiller and market capitalisation to GDP are presented as evidence. Our view is that equity valuations have finally reached normality and the multiple-expansion party is probably over for now. Thus rising stock prices are now solely dependent on revenue and earnings growth.
Let us look at the cold facts. Measured on six valuation metrics, global equities
August Equity’s portfolio company SecureData Europe has completed the acquisition of SensePost.
SensePost provides information security consultancy. It works with blue-chip global customers and is known for its expertise in training, security assessments, consultancy and security research.
The expertise added by the latest acquisition will enhance SecureData’s full service offering in the Assess, Detect, Protect and Respond pillars of its security services proposition. The acquisition also aids the development of ‘SecureData Labs’, a specialist service that will provide customers with cutting-edge research, relevant answers and new ways of fighting cyber threats.
Etienne Greeff, CEO at SecureData, says: “We
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