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Atlas Holdings has held the first and final close of its second private equity investment fund, Atlas Capital Resources II.
Atlas began fundraising in September with an initial target of USD650m and closed at its hard cap of USD900m.
Atlas focuses on control investments in companies experiencing financial or operational stress, benefiting from Atlas’ ability to execute complex financial transactions, resolve enterprise challenges and systematically deliver exceptional operational and financial performance. Atlas has been an active acquirer of businesses through bankruptcy purchases, out-of-court restructurings and reorganisations as well as underperforming or discontinued operations from corporate sellers. Atlas will continue
Transfer pricing is becoming an increasingly discussed topic in the financial services industry, and has important implications for PE Funds and their portfolio companies, as outlined by Jessica Joy (pictured), managing director, and Stefanie Perrella, vice president, in the Duff & Phelps Transfer Pricing practice.
Growing importance of transfer pricing
Coinciding with the continued globalization of businesses, as well as fiscal pressures on national economies, there has been an increasing focus on tax issues, including transfer pricing. Prominent examples include the Congressional examination of Apple’s international tax practices and whether transfer pricing has been a means to reduce tax liabilities,
HIG Europe has sold Europa Support Services (Europa) to Bilfinger SE.
HIG Europe is the European arm of global private equity company HIG Capital.
Europa Support Services is one of the leading providers of technical, infrastructural and integrated facility management services in the UK and the Republic of Ireland.
HIG invested in the company in 2008 in what was then its first investment in the UK market from its maiden dedicated European equity fund. Since then, the company has completed four bolt-on acquisitions and delivered strong organic growth, with revenues increasing during the period more than fivefold to over
Moore Group has appointed new heads of Europe and Asia to focus its services regionally.
Jon Trigg has been promoted to European head of fund services and Jean-Francois Minier Asia head of fund services.
Trigg’s promotion comes six months after the private equity specialist joined Moore as a director. In his new role he will be responsible for developing Moore’s fund services capability in Europe. Trigg is a Fellow of the Association of Chartered Certified Accountants has over 13 years’ experience in the financial services sector and has worked in many areas from client to technical and operational. Trigg
PA Group, the parent company of the Press Association (PA), has signed an agreement to sell its weather business MeteoGroup to global growth investment firm General Atlantic.
MeteoGroup, Europe's largest private sector weather business, provides weather services for corporate, industrial, media and consumer markets including key sectors such as transport, marine and energy.
Since PA's acquisition of MeteoGroup in 2005, the business has enjoyed consistent double digit growth in both revenue and profit and has more than doubled in size, employing almost 400 people in 14 countries.
Clive Marshall, PA Group's chief executive, says: "The sale of MeteoGroup
Law firm Reed Smith has advised Sovereign Capital Partners on the sale of City & County Healthcare Group (C&C) to Graphite Capital Management.
Sovereign first acquired C&C in 2009. Since then, C&C has extended its services to include children and adults with learning disabilities, expanding from 13 branches to 64, and is now Britain’s fourth largest domiciliary care provider.
The Reed Smith team was led by partner Perry Yam, senior associate James Cross and associate Emilia Valvano. The team advised the shareholders of C&C on the sale and advised management, led by CEO Craig Rushton, on its re-investment into
Eagle Energy Exploration has received an equity commitment of up to USD300m from energy private equity firm Riverstone.
The Riverstone commitment comprises up to USD200m from Riverstone Global Energy and Power Fund V and up to USD100 m from Riverstone Energy Limited (REL).
Eagle will pursue oil and gas exploration and production opportunities in the Mid-Continent region of the US, leveraging its operating experience in the region and building on its prior success accumulating, delineating and developing acreage in the Mississippi Lime.
This venture represents the second partnership between Riverstone and Eagle management, led by Steve Antry
OFI InfraVia’s European fund II (InfraVia II), its second European infrastructure fund, has acquired Outokumpu’s electricity distribution network located on the Tornio site in Finland.
With the transaction, a number of Outokumpu employees are transferring to RIG (Röyttä Industrial Grid), a new industrial electricity distribution company established by InfraVia II and which will continue to operate the network.
“RIG is an excellent electricity distribution asset with a strong contractual framework and an attractive investment profile, which aligns perfectly with our investment strategy in midcap infrastructure assets supporting solid industrial partners,” says Vincent Levita, founder and chief executive of OFI
Growth equity firm General Atlantic (GA) has promoted Robbert Vorhoff to managing director and Aaron Goldman and Amit Soni to principal.
Vorhoff is based in New York and leads GA’s global healthcare sector. Goldman and Soni are senior professionals in the firm’s New York and Mumbai offices, respectively.
“We are proud to have Robb as a managing director at GA. He is a highly talented professional who leads our investments in the healthcare sector, a dynamic industry in which we see high growth opportunities both here and abroad,” says William E Ford, chief executive of General Atlantic. “We are
David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, comments on Facebook’s inclusion in the S&P 500…
On 11 December, after the market closed, S&P Dow Jones Indices announced that Facebook will join the S&P 500 as of the market open on Monday, 23 December. This was probably one of most predicted, asked about and commented on additions to the S&P 500 in the last few years. Measured by the number of suggestions to (or demands of) the index committee, Facebook ranks with other tech darlings including Google, Yahoo and AOL.
Facebook closed at USD49.38 on 11
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