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The total number and value of deals in the UK private equity lower mid-market surged in the second half of 2013, according to Lyceum Capital and Cass Business School’s UK Growth Buyout Dashboard.
The research, which analyses private equity control deals in the GBP10m to GBP100m enterprise value range, found that the total value of buyouts reached GBP1.84bn in the final six months of 2013 – the highest since H1 2011 (GBP1.90bn) and the second largest half yearly total since the study began in 2008.
This figure represents a 68 per cent increase on the GBP1.10bn value recorded in
Welsh, Carson, Anderson and Stowe portfolio company Quest Diagnostics is to acquire Solstas Lab Partners Group and its subsidiaries for a total transaction value of approximately USD570m.
Solstas is a full-service commercial laboratory company based in Greensboro, North Carolina. The company operates in nine states throughout the south-eastern US, including the Carolinas, Virginia, Tennessee, Georgia and Alabama.
"This acquisition represents an exciting opportunity for Quest and Solstas as well as our patients and customers in the region. Solstas has excellent client relationships and local presence in the Southeast, and we expect to build on the value of these assets with
David Absolon (pictured), Investment Director at Heartwood Investment Management, examines the outlook for bonds in 2014…
Bond markets have enjoyed a bull run over the past 30 years, largely supported by both falling interest rates and inflation and, since 2008, loose monetary policy. But things began to change last summer as prices fell and yields started rising, and we expect this environment to continue in the coming year. Indeed, 2013 gave us only the third negative annual return for global bonds since 1987. The other two were 1994 and 1999.
What does the year ahead look like for bonds? Neither
BDO has appointed Martin Gouldstone as a director within the corporate finance pharmaceutical team based in Baker Street, London.
He joins with a wealth of experience in the sector, having worked in the biopharma industry for more than 20 years.
Gouldstone joins from the biopharmaceutical development and commercial outsourcing consultancy Quintiles, where he worked as a senior director in the corporate development department and established its product strategy practice within consulting. As part of this role, Gouldstone was responsible for M&A activities across Europe, the Middle East &Africa and acted as the lead on several large client accounts for
Guernsey has more entities listed on the London Stock Exchange (LSE) than any other jurisdiction globally excluding the UK, according to figures from the market authority.
LSE data shows that at the end of December 2013 there were 115 Guernsey-incorporated entities listed on the Main Market, the Alternative Investment Market (AIM) and the Specialist Fund Market (SFM).
This is more than the major economic powers of the US (37), Australia and Russia (both 30), India (29), South Africa (8), Germany (6), China (4) and France (3). It was also well ahead of competitor centres Jersey (88), Ireland and the
Turner Investments has launched a new investment strategy – Turner/TomorrowVentures Genesis Equity.
Turner Investments serves as the investment adviser for the strategy; TomorrowVentures will provide research for the strategy’s private investments.
Turner expects to invest up to half in private companies experiencing strong growth and not less than half in public companies with accelerating fundamentals. The strategy, which will have limited capacity, will seek to deliver risk-adjusted returns in all markets and long-term capital appreciation over a full market cycle.
"Our expertise has always been identifying and investing in innovative growth companies. So we are delighted to be
MMC Ventures has reopened the MMC Growth Generation Fund, which is structured specifically to provide a younger generation of investors with access to high growth companies, EIS tax benefits and the opportunity to build long term capital gains.
MMC hosted an event last night aimed at giving young people the opportunity to learn about venture capital investing and encouraging them to get involved in UK private company investment.
MMC launched the Growth Generation Fund in January 2010, having noticed a growing interest in the venture capital market amongst younger investors. The reopening of the fund creates an opportunity for
AGF Management and Instar Group have launched InstarAGF Asset Management, a joint venture that providing institutional investors with access to infrastructure investment opportunities.
Based in Toronto and led by Gregory Smith, a pioneer in the infrastructure investment community, the new company will invest in and manage a range of alternative asset funds, with primary focus on infrastructure assets.
"AGF is delighted to be working with Greg Smith in this important new venture," says Blake C Goldring, chairman and chief executive officer, AGF Management Limited. "Allocations to alternatives have been steadily increasing, and private infrastructure assets remain especially attractive to
Tikehau Investment Management has arranged, alongside European Capital, the EUR65m unitranche financing backing the acquisition of Asmodée by Eurazeo Capital.
Created in 1995 by Marc Nunès, Asmodée is an independent publisher and distributor of games and trading card games in Europe with operations in eight countries including the UK, Benelux, the US, and France where it is a key player.
The acquisition was completed in compliance with the terms disclosed on 12 November 2013, following approval from the European competition authorities. On one side, the transaction structure comprises equity, primarily provided by Eurazeo together with Asmodée’s management and founders
Octopus Investments-backed UltraSoC Technologies has appointed Chris Gilbert as non-executive chairman.
Gilbert will play a key role in the development of the company as it enters a phase of growth and market penetration for silicon IP platform UltraDebug.
UltraDebug is expected to bring benefits to the semiconductor ecosystem and providers of sophisticated electronic products.
Gilbert is an experienced executive and highly successful entrepreneur with vast experience in company strategy, globalisation, fundraising, building companies, investor relations and M&A. He has held a series of general management positions in two large US technology companies, Data General and Motorola. At Motorola,
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