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Investec Growth & Acquisition Finance has provided a financing facility to support the management buyout of City & County Healthcare Group (C&C), the UK’s fourth largest home care provider.
The facility has been provided to Graphite Capital, a UK mid-market private equity specialist, to underwrite its backing of the MBO from Sovereign Capital Partners.
Investec fully underwrote the finance package pre deal, providing security of funding for Graphite. The Investec team then successfully syndicated two thirds of the financing to HSBC and Lloyds (a third each) highlighting the strength of the credit.
The facility is made up of
Appleby acted as Isle of Man counsel, alongside Dickson Minto in London, to private equity firm Vitruvian Partners in its funding of the management-led buyout of Royal London 360° (RL360°) and its subsidiaries for an undisclosed sum from parent Royal London Group (RLG).
RLG says the transfer of ownership will enable RL360° to achieve its vision through a further acceleration of the growth that RL360° has experienced in recent years.
The RL360° executive management team, led by chief executive David Kneeshaw, will remain unchanged. Following completion, the company will be re-branded RL360°.
The Isle of Man aspects of
Nearly half of financial services professionals (49 per cent) globally do not believe that any regulator has managed to strike the right balance between protecting investors and underpinning growth, according to a survey by Kinetic Partners.
The firms surveyed for Kinetic Partners’ 2014 Global Regulatory Outlook report urged global regulators to coordinate their regulatory efforts.
Overall, fewer than one in five highlighted any single national regulator as having found the right balance between stabilising the financial system, protecting investors, reacting to public opinion and creating a framework for growth.
Only 12 per cent globally believed that the SEC
Hermes CEO Saker Nusseibeh looks forward to 2014…
Looking forward to 2014, we seem to have two reasonably solid foundations on which to build a forecast for the year. The first is that growth in the Anglo Saxon economies, especially the US has come through stronger and more solidly than anticipated by many, as evidenced by the stronger employment numbers in the US and the revision to economic data in the UK. The US economy seems to be well on its way to grow at around 2.75% while the UK economy looks like growing in the twos. In both economies,
SFW Capital Partners has completed its recapitalisation of MD Buyline, a provider of supply chain management solutions for hospitals and healthcare systems.
The proceeds of the recapitalisation were used to fund a significant cash distribution to stockholders.
Following the recapitalisation, MD Buyline remains conservatively capitalised and has the continued support of SFW, its majority shareholder, to actively pursue further strategic growth initiatives.
SFW acquired MD Buyline from its original founders through a newly formed affiliate in early 2011.
“MD Buyline has experienced excellent growth by providing an expanding line of critical strategic information and analytics to health
Mansa Capital Management has raised an additional USD15m for what will be its debut healthcare private equity fund, bringing total commitments to roughly USD50m.
With strong relationships in healthcare, private equity and banking, the firm is investing in healthcare information technology (HCIT) and services companies that help to contain healthcare costs and improve clinical outcomes.
Mansa is particularly interested in companies that can meet the increased demand from Hispanic and urban populations in the post-reform landscape.
“Raised from state pensions through emerging manager initiatives as well as high net worth individuals and family offices, participants in this latest
Kester Capital has invested in Frontier Medical Products alongside a reinvestment from the Frontier management team, led by Nick Davis and Nigel Harris.
The transaction has been supported by new loan facilities from The Royal Bank of Scotland (RBS).
Founded in 1966, Frontier is manufacturer and supplier of pressure area care and infection control products to healthcare providers in the UK and continental Europe. Frontier’s portfolio of brands includes: Repose, a differentiated range of pressure area care devices; Sharpsafe, premium quality sharps disposal containers; and eXchange, specialist harm reduction products and services.
Frontier is based in Blackwood, Wales,
Middle market private equity firm Wynnchurch Capital has appointed Robert Burgess to its newly formed executive advisory board.
Burgess was previously chairman and chief executive of Pulte Homes, one of the US’s largest homebuilders.
Other leadership positions Burgess held during his 19-year career at Pulte include senior vice president corporate development and president and chief operating officer.
"The depth of Bob's knowledge in the building products industry will greatly augment our efforts to expand our portfolio in this area," says John Hatherly, founding partner, Wynnchurch.
Burgess serves on the boards of directors of Amerisure Companies, Mattamy Homes
Palamon Capital Partners has appointed of Philippe Arbour as managing director of structured finance and Antony Barker as director of investor relations and marketing.
Arbour joins Palamon having spent ten years with Lloyds Banking Group, where he worked in a variety of roles spanning trade finance, specialist credit and leveraged finance. Most recently, he was a director in the leveraged finance and high yield team. Between 2010 and 2011 he was seconded to 3i as a director in its banking team.
Barker re-joins Palamon from global placement agent Campbell Lutyens and DMC Partners, where he was an investor relations associate
Westchester Capital Management (WCM), the investment manager of The Merger Fund, has introduced a new brand identity, designed to reflect its commitment to expanding its line-up of liquid alternative strategies.
WCM has delivered alternative event-driven strategies through registered investment companies since 1989.
"Alternative investments are playing a more important role in asset allocation strategies of diversified investment portfolios," says Roy D Behren, managing member and portfolio manager. "Our goal is to provide sophisticated investors and their advisers with alternative strategies, while utilising registered structures to enhance the liquidity of these assets in their portfolios. We believe our investment solutions may
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