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KKR & Co and KKR Financial Holdings (KFN) have signed a definitive merger agreement where KKR will acquire KFN through a stock-for-stock merger that values KFN at USD2.6bn.
KFN is a specialty finance company with a portfolio of assets spanning a complementary range of strategies, principally leveraged credit through ownership of subordinated and mezzanine notes across a number of CLOs, special situations and private markets strategies including natural resources, commercial real estate and private equity. KFN is externally managed by KKR.
Under the agreement, which has been approved by the boards of directors of both KKR and KFN, in
Kester Capital has sold its interest in Chiltern in a deal which values the business at GBP135m.
The exit comes as Chiltern announces the consolidation of existing investors, led by Sir Douglas Myers.
The transaction has generated a return of over 2x capital and a 25 per cent IRR for Kester Capital funds.
Chiltern is a contract research organisation (CRO) with extensive experience in the management of Phase I-IV clinical trials across a broad range of therapeutic areas. Chiltern serves a diverse customer base and has conducted trials in over 40 countries. The business employs more than 1,600
Hot Rod Brands, an affiliate of private equity company Z Capital, has acquired MSD Performance Group (MSDP), a provider of vehicle aftermarket performance parts.
MSDP sells products under the MSD, Racepak, Powerteq, Edge and Superchips brands.
The transaction is scheduled to close this week.
The acquisition was part of a Section 363 Bankruptcy auction and was approved on 26 November 2013. MSDP filed a voluntary Chapter 11 bankruptcy protection petition on 6 September 2013.
"MSDP is now well positioned for the future,” says Ron Turcotte, chief executive of MSDP. "In recent years, we have expanded our portfolio
UK venture capital firm SEP has reported a sharp upturn in investment activity this year and strong operating performance across its portfolio of 40 high growth companies.
SEP, one of the largest venture capital groups in Europe, confirmed that investment is scheduled to total GBP60m in the current year to 31 December.
Companies added to the portfolio include l digital solutions provider Tryzens, email marketing company Pure360, and social analytics company SocialBro. SEP expects to complete another significant e-commerce investment within the next few weeks.
Aggregate revenues for the portfolio have grown 22 per cent in 2013 to almost
Maven Capital Partners has invested GBP5m for a majority equity stake in R&M Engineering, which provides integrated engineering and fabrication services to the North Sea oil and gas industry.
This investment is the sixth new deal Maven’s Aberdeen team has completed this year.
R&M operates out of purpose built premises in Huntly (Aberdeenshire) and is one of the few independent companies in the UK with the expertise and infrastructure to carry out large and complex projects including hydraulic, pneumatic and electrical work. The business undertakes all processes in-house including design, machining, welding and final fabrication.
R&M has enjoyed
There’s plenty of value to be found in European microcap shares for investors in 2014, according to veteran European small cap investors Philip Best (pictured) and Marc St John Webb at Geneva-based Argos Investment Managers.
Despite an outstanding 2013 for the duo’s Argonaut fund, which has risen by 39.2% since 1 January, they believe that many European stocks in their universe remain significantly undervalued.
“While 2013 has been a good year for Argonaut, our numerous ‘boots on the ground’ trips into the heartlands of industrial Europe still reveal plenty of deeply undervalued quality small businesses whose prices have yet to
Gaw Capital Partners USA has appointed Ashish Gupta as senior vice president for acquisitions.
Gupta (pictured) will be based in the soon-to-be opened New York City office and is responsible for US investments for the firm, with a focus on projects located on the east coast and other select knowledge- and innovation-based markets such as Austin, Texas.
Most recently, Gupta was a senior vice president at Lehman Brothers where he was responsible for overseeing the restructuring, asset management and monetisation of a portfolio of debt and equity positions collateralised by approximately 30 million square feet of office space across several major US markets. Through restructurings
Private investment company Ardian has joined forces with Eric Van Hal, chief executive and co-founder of the NHV Group, to acquire a majority stake in the Ostend-based NHV Group from the founder shareholders.
NHV Group is an international helicopter transport services group.
Based in Ostend, Belgium, NHV was founded in 1997 by Van Hal, Jozef de Kinder and Concordimo. Fin.co Capital Partners, a Belgian family office, joined the founding shareholders in 2009 to further support the company’s growth.
NHV has 360 employees across 15 bases on three continents, with a solid track record of rapid international expansion and
Venture capital provider Mercia Fund Management (MFM) has launched the Mercia Growth Fund 3, the latest incarnation of the company’s EIS/Seed EIS (SEIS) hybrid fund.
The fund follows the Mercia Growth Fund 1 and 2, which invested across the UK in medtech, gaming, telecoms and e-commerce sectors.
As with the previous funds, this new fund will provide a tax efficient investment route for its investors, while supporting small yet fast growing and revenue driven UK-based businesses.
Recently, the government announced the importance of supporting small to medium sized businesses (SMEs) with tax efficient investment structures available to private
Trevor Falle, who for many years was chief executive of FirstRand’s offshore operations, which incorporates both Ashburton in Jersey and FNB International Trustees in Guernsey, has joined JTC Group as a group director.
Falle has 35 years’ financial services industry experience in the Channel Islands, London and the US and spent many years at Ashburton where he was the managing director from 2001 to 2007, a period of significant expansion for the Jersey based investment management group.
In 2004, while still at the helm at Ashburton, he was also appointed chief executive of FirstRand’s offshore operations, a role he
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