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Private equity firm Catterton Partners has completed the sale of Mid-Atlantic Convenience Stores (MACS), a convenience store operator in Maryland and Virginia, to an affiliate of Sunoco.
Sunoco, which has a long history in the retail business with a network of almost 5,000 sites, will operate the MACS business. Terms of the transaction have not been disclosed.
Since investing in MACS in 2010, Catterton has helped it to become a leading development platform in the convenience store space. Over this period, MACS has been able to drive significant operational retail improvements at its convenience stores, including unifying store brands,
Protein Bar, a casual restaurant chain specialising in healthy, on-the-go options, has secured a capital investment by private equity firm Catterton Partners.
The investment will be used to foster the expansion of the Protein Bar concept across the US. Terms of the transaction were not disclosed.
Protein Bar offers high-quality, healthy food in a modern and hip fast-casual environment. Known for its "Bar-ritos", quinoa bowls, salads and protein drinks, Protein Bar provides its guests with craveable food that is good for them, in a manner and speed that is in tune with their busy lifestyles. Protein Bar was founded
Rene Griemens has been appointed as the new chief financial officer of Hamburg-based Kreditech.
Responsible for corporate finance and refinancing of the Kreditech Group, Griemens (pictured) will be focusing on scaling by broadening Kreditech’s international investment. He has over 20 years of experience in corporate finance in the technology and eCommerce sectors.
“The experience and strategic expertise Rene is bringing in is a huge benefit to us. In particular during the current shift from a start-up to a mid-sized, international operating company, this will be a substantial boost to Kreditech as an innovation leader,” says Sebastian Diemer, chief
Aviva Investors has completed the acquisition of EUR84.5m in privately placed senior secured notes issued by Reggefiber, the Dutch telecommunications infrastructure provider.
The transaction refinances a short-term construction bridge facility provided by ABN AMRO and provides long term capital for Reggefiber to facilitate the continued expansion of its Fiber-to-the-Home (FttH) networks. This marks the first investment for the Aviva Investors European Secondary Infrastructure Credit SV (Securitisation Vehicle), which launched in July 2013.
This is Reggefiber’s first capital markets transaction, having previously obtained debt financing via project finance facilities in the banking market. The transaction comprises a fixed-rate tranche
Livingstone’s IT services team has advised the shareholders of Backup Technology on the sale of the business to iomart Group for GBP23m, a 9.6x multiple of historic EBITDA.
Backup Technology is a provider of managed data backup and disaster recovery services to SMEs and large corporates. Using software from Canadian developer Asigra, the business protects over 10 petabytes of data for over 200 customers, including household names such as the British Red Cross, Siemens, Pernod Ricard and Liverpool FC.
iomart is one of Europe’s largest providers of cloud computing services, serving in excess of 300,000 customers through several
The capital markets continued to demonstrate strong momentum in Q3 2013 as the volume of new public listings matched the previous quarter and exceeded the third quarter of 2012, according to IPO Watch.
The quarterly survey of IPOs listed on US stock exchanges by PwC US also reveals that overall IPO volume for the first nine months of 2013 has already surpassed overall volume for all of 2012, while the high yield market saw USD255bn of issuances, exceeding 2012 issuances through three quarters.
There were a total of 63 IPOs in the third quarter of 2013, consistent with
Ardian, the independent private investment company formerly known as AXA Private Equity, has held a successful closing of its LBO Fund V.
At EUR2.41bn the new fund represents a 51% increase in size from Fund IV with over half committed by previous investors in Fund IV and the welcome introduction of new investors from North America, Asia, Europe and the Middle East. Ardian’s new LBO Fund V will also have the additional co-investment opportunities of up to a further EUR400m.
Some 24% of the new fund has been committed across 6 European mid-market transactions; including 4 investments (in Riemser, a
Merus, a biopharmaceutical company focusing on human antibody therapeutics, has secured a EUR31m extension to its series B financing round, bringing the total round to EUR47.6m.
Johnson & Johnson Development Corporation (JJDC) joined as a new investor along with existing investors Novartis Venture Fund, Pfizer Venture Investments, Bay City Capital, LSP (Life Sciences Partners), and Aglaia Oncology Fund.
A representative of JJDC will join Merus’ board of directors.
Merus will use the new funds to broaden its portfolio of pre-clinical programs for the treatment of cancer patients and to bring its lead programmes into phase I clinical
Alternative asset manager The Carlyle Group has closed a EUR335m collateralised loan obligation (CLO) fund, the firm’s second new-issue CLO in Europe this year.
Carlyle GMS Euro CLO 2013-2 will invest predominantly in new issue and secondary market European senior secured bank loans. Citibank arranged the transaction.
Carlyle’s first new-issue European CLO in 2013 closed in June at EUR350m. According to S&P Capital IQ LCD, aggregate CLO issuance in 2013 in Europe now stands at approximately EUR4.5bn from 14 deals, including Carlyle GMS Euro CLO 2013-1 and 2013-2. In February 2012, Carlyle made its first CLO purchase in Europe when it
LBO France has announced the sale of Groupe Poult’s Polish activities to Bridgepoint, for an undisclosed amount.
Established in 1993 and operating under the Dr Gerard brand, the business was acquired by Groupe Poult in 2010 as part of a build up orchestrated by LBO France. Today it’s a leading biscuit producer in Poland, selling products to all retail formats, operating from three sites in the country and employing 950 people.
As part of the transformation realised by LBO France and under the ownership of Groupe Poult, the Polish business grew significantly, transitioning from a local family owned business
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