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The management team of outdoor retailer Mountain Warehouse has completed a GBP85m acquisition of the business backed by Royal Bank of Scotland and Alcentra.
The transaction enables the team, led by founder and chief executive Mark Neale, to take full ownership of 169-strong chain, while providing an exit for its mid-market private equity backer LDC which acquired a significant minority shareholding in August 2010 as part of a GBP47m buyout.
The transaction delivers a strong return for LDC, more than doubling its original investment within three years, during which time the business has traded through two recessions.
Mountain
A number of the UK early stage investors have come together to back a new online platform that aims to transform venture investing in the UK.
Launching today, JustInvesting is the UK’s first private equity exchange focusing on early-stage ventures.
The management team have announced GBP750,000 (USD1.2m) in seed funding by some of the UK’s most prominent investors including Robin Klein of The Accelerator Group and Index Ventures, Edward Wray, co-founder of Betfair, and a number of senior finance industry executives. JustInvesting is also backed by the GBP100m Angel CoFund, a government supported fund investing in high growth early
Private equity provider LDC has invested GBP22m for a minority stake in lifestyle brand Joules.
Established in 1980 and headquartered in Market Harborough, Leicestershire, Joules is a British premium lifestyle brand that is renowned for its distinctive designs and prints, high-quality product range and authentic country heritage. The business offers a broad range of womenswear, menswear and childrenswear and has more recently extended into babywear alongside a variety of accessories and homeware.
With current annual turnover approaching GBP90m, the company operates a multi-channel model with its direct and wholesale channels being supplemented more recently with own retail stores, which
Kewsong Lee is to join alternative asset manager The Carlyle Group as deputy chief investment officer for corporate private equity.
Lee comes to this newly-created position at Carlyle from Warburg Pincus where he was managing director and member of the executive management group. Lee begins his duties in late December and will be based in New York and Washington, DC.
Carlyle co-chief executive officer and chief investment officer William E Conway, Jr says: "Carlyle's greatest strength is the depth, continuity and collegiality of our global investment professionals. Kew will be a great addition to this team and will play
High Road Capital Partners’ portfolio company The Crown Group has completed the acquisition of Electra-Finish.
Electra-Finish is a provider of plastic coating services and solutions to the automotive, agricultural, heavy truck and other industrial end markets.
The company is based in Asheboro, North Carolina with a second facility in Spartanburg, South Carolina. The transaction represents the first add-on acquisition The Crown Group has completed under High Road’s ownership.
“The acquisition of Electra-Finish expands The Crown Group’s product offerings to include high-end plastic coating solutions. It is a perfect complement to the high-end metal coating solutions for which Crown
Leading figures in European private equity (PE) are predicting a significant shift in industry dynamics in the coming years as buyout firms seek to attract new investment, according to a study by Investec Fund Finance.
Investec Private Equity Insights 2013 explores the issues that PE firms face as the industry adapts to the post-crisis environment based on insights from 15 influential senior executives in the European PE market and focuses on three key areas – perception of PE; evolution of the industry; and the importance of innovation. The research reveals fear that the sector is doing too little to sufficiently
Renewables infrastructure specialist Platina Partners has completed the sale of its Long Mountain wind farm to independent Irish energy company Energia, a member of the Viridian Group.
The project was the last asset to exit Platina’s Mistral Energy I (ME I) fund, which has now completed its full investment cycle. Earlier this year Platina completed the full investment cycle for its Mistral Wind Farm I Fund.
Launched in 2002, ME I focused on the development of UK and French onshore wind assets and delivered a gross IRR above 60 per cent to its investors. Previous investments from the fund
Charles Hepworth (pictured), the investment director responsible for GAM’s DFM business, shares his insights into the various asset classes to love and leave…
Edmond de Rothschild Investment Partners has closed its BioDiscovery 4 venture capital fund for European life science companies after raising EUR192m (USD250m), increasing by almost 25 per cent its investment capacity compared to the size of its previous life science fund.
With this closing the total funds raised by EdRIP for life sciences investments to about EUR450m.
“This is a great achievement for Edmond de Rothschild Investment Partners and its life science team. At over EUR190m, BioDiscovery 4 is our largest European FCPR focused fund so far,” says Pierre-Michel Passy, chief executive of Edmond de Rothschild Investment Partners. “The
Funds managed by CapMan have completed their exit from the Curato, a provider of medical imaging services in Norway, as announced on 16 September 2013.
CapMan funds sold their equity stakes in Curato to Altor Fund III.
CapMan Buyout is the largest mid-market private equity team in the Nordic region, with 20 investment professionals in Finland, Norway and Sweden and 23 years of experience. The team has made a total of 69 investments and 45 exits and is currently investing from CapMan Buyout X.
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