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One third (33 per cent) of global businesses are planning a sale in the next two years, according to a report from EY.
The annual 2014 Global Corporate Divestment Survey, which surveyed more than 700 corporate executives globally, also reveals that 80 per cent of global executives are open to offers for prized assets and a 30 per cent premium would bring a majority of execs to the deal table.
In terms of options, 55 per cent of global executives would consider a full sale of their business compared to 34 per cent who would opt for a carve
KKR Asset Management, a sub-investment grade manager wholly-owned by KKR, has agreed to provide approximately EUR100m in capital, through a combination of debt and equity, to Gruppo Argenta.
The funds will partially repay current lenders as well provide liquidity for growth. The incumbent shareholders will invest EUR10m alongside KKR.
Argenta is one of the leaders in the vending sector in Italy with 18 operational centres across the national territory, 1,200 employees and 900 vehicles. Argenta vending machines are located in 88,000 sites, including companies, offices, public institutions, universities and outdoor locations such as petrol stations, airports, shopping centres throughout
iNovia Capital, an early stage venture capital fund focused on digital media, SaaS, e-commerce and connected devices, has named principals Kevin Swan and Karamdeep Nijjar as partners at the firm.
Swan’s technical and operational background gives him strong expertise in the areas of SaaS, digital media and connected devices.
Swan has been involved with iNovia since 2010 when he was engaged as a venture partner and was instrumental in developing Fund III. He served as a director or observer on the boards of Mitre Media, Allocadia, Basis, Parent Media, Drivewyze and Growlabs.
"Kevin has a deep understanding of the
The Abraaj Group is to acquire in partnership with the European Bank for Reconstruction and Development (EBRD) and the Yörük family, a majority stake in Turkish dairy business Yörsan Group.
Yörsan has been manufacturing branded dairy products in Turkey for over 50 years.
Yörsan has a strong portfolio of products covering all the main dairy categories of yoghurt, cheese, milk and the traditional Turkish drink, ayran.
The dairy sector in Turkey is estimated to be currently TRY6.5bn in size and has grown even during economically challenging years such as 2009.
Working alongside a new leadership team, Abraaj
Private equity group EQT has held the closing of the EQT Mid Market fund. Interest in the new fund was strong, with 95 per cent of the EUR1.1bn capital committed by existing EQT investors.
The fund is advised by a dedicated team of 35 investment advisory professionals based in Copenhagen, Frankfurt, Hong Kong, Shanghai, Singapore, Stockholm and Warsaw. The team has cumulative experience from advising on more than 30 middle market transactions in prior EQT funds with an aggregated transaction value of over EUR3.4bn.
The EQT mid market team is led by Jan Ståhlberg, one of the founders and deputy managing partner
Segulah IV has entered into an agreement to acquire KP Components.
KP Components, which was founded in 1969 by Poul Krogh Pedersen, offers complex machined metal components for hydraulics, power generation and fluid transportation.
KP Components’ head office is located in Spjald, Denmark. Its products are distributed broadly across Europe and the US, where KP Components established production facilities in 2011.
The sellers in the transaction are the Danish private equity fund Capidea Kapital and Industri Udvikling.
Chief executive Martin Krogh Pedersen will remain as a significant minority owner subsequent to Segulah’s acquisition together with management.
Hamilton Lane, a private equity asset management firm, has appointed Mingchen Xia as principal on the fund investment team and Yen Li Chew as vice president in the business development group.
The new hires will be based in Hong Kong and will further strengthen the firm's presence in the Asia-Pacific region.
"We are delighted to welcome Mingchen and Yen Li to the Hamilton Lane team. Both bring years of experience in the Asian private equity markets and their deeply developed regional networks and market perspectives will add great depth to our existing presence in the region," says Erik Hirsch,
Omnes Capital has sold its stake in Emalec Développement to the firm’s management team which is taking full control of the company.
Based in Saint-Genis-les-Ollières, close to Lyon, Emalec is involved in maintenance, electrical, air conditioning systems and multi-technical repair works at branch networks in France including specialist retailing, bank networks and service stations.
The company is one of a few to specialise in multi-site maintenance.
Omnes Capital invested in Emalec Développement in 2007 through an owner buy out together with the founding managers and supported the company for six years. It backed its market share development strategy
HIG Capital has completed the sale of its portfolio company MagnaCare to an investor group led by an affiliate of Goldman Sachs, Pamplona Capital Management, and the MagnaCare management team.
Based in New York, MagnaCare is a health plan services company offering a broad range of healthcare administrative services and access to a proprietary provider network of approximately 95,000 individually contracted physicians, hospitals and other healthcare providers.
MagnaCare currently provides services to approximately 850,000 members and manages approximately USD1.5bn of annual health care expenses.
After acquiring MagnaCare in 2010, HIG partnered with management and invested significant resources in
Rothschild Merchant Banking arm has completed the final closing of Oberon Credit Investment Fund I, its European secured credit fund.
Rothschild worked with Key Capital to place this unlevered six-year closed end fund.
The Oberon fund is an actively managed credit fund invested in a diversified portfolio of secured debt within leading European LBOs. The fund targets a seven to nine per cent net IRR, via quarterly cash distributions, offering low volatility of returns and access to assets via an investment adviser.
The Oberon portfolio presently consists of c60 per cent 2013 primary issuance, with the balance selected
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