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Rowmark, a manufacturer of highly engineered extruded plastic sheet used for engraving and specialty applications, has been acquired by Bertram Capital.
Based in Findlay, Ohio, Rowmark represents Bertram Capital’s third platform investment in the plastics industry. In addition to the equity investment in Rowmark, Bertram Capital also provided subordinated debt to finance the acquisition.
"Rowmark is an established market leader with strong brand recognition, supported by state-of-the-art manufacturing and an unmatched distribution network," says Kevin Yamashita, Partner at Bertram Capital. "Rowmark is led by a capable and experienced management team. They have built a platform with robust operating fundamentals
Custom House Global Fund Services, a provider of financial services to the alternative investment sector, has opened a New York office and expanded its business development team.
Custom House now has seven global locations, over USD40bn of assets under administration and 200 staff.
Joining Custom House in New York is Peter McCulloch and Anthony Stanziano as commercial directors. Both positions will report to Scott Price, head of sales for the Americas, who is located in the company’s US headquarters in Chicago. Internally, Greg Colanto has also been promoted to commercial director in Chicago.
“The opening of a New York office
HSBC Securities Services (HSS) has made key appointments in sales for North America and Europe.
Kevin Skorzewski joins as head of sales for North America. In this new role, Skorzewski will be responsible for building out HSBC’s securities services franchise in the region and will focus on serving the complex needs of asset managers in North America. He will work closely with the product, sales and business development functions to ensure effective delivery of its global platform to clients in the region. Skorzewski will be located in New York.
Skorzewski joins from JP Morgan Chase, where he held the role
SAP Ventures has raised more than USD650 million for a new direct investment fund, SAP Ventures Fund II.
Taken together with SAP HANA Real Time Fund, a USD405 million fund-of-funds that invests in early stage VC funds, SAP Ventures has added more than USD1 billion in new funds in 12 months.
Inclusive of SAP Ventures Fund I, a USD353 million direct investment fund launched in 2011, the firm’s total assets under management increased to more than USD1.4 billion. SAP Ventures also announced it is building out a dedicated 10-person business development team to enable its portfolio companies to easily access
Funds managed by IK Investment Partners have entered into an agreement with the Norwegian foundation Det Norske Veritas (DNV) to acquire its subsidiary DNV Petroleum Services (DNVPS).
Financial details for the transaction have not been disclosed.
Founded by the Norwegian foundation DNV in 1981, DNVPS is a provider of fuel management services for the maritime and power sectors with customers including ship owners, managers and charterers as well as power plant operators. The company primarily operates within two segments, fuel quality testing and bunker quantity surveys.
DNVPS has experienced strong growth since inception, reaching USD50m in revenue
Following the news that the US government has failed to agree a budget, Joanna Shatney, Head of US Large Cap Equities shares her views on what this means for US markets…
Haven’t we dealt with this before? With political gridlock over the 2014 budget, we have breached another US government deadline. And once we get past this issue, there is another one right behind it surrounding the need to raise the debt ceiling by mid-October.
The market was down slightly yesterday, but as we look toward the growth opportunities for the US economy and corporate profits over the next three
Alter Domus, a fund and corporate services provider dedicated to private equity houses and real estate firms, has set up operations in France through a dedicated fund administration entity.
Laurent Vanderweyen (pictured), chief executive officer, Alter Domus, says: “France is a critical market with huge potential for Alter Domus to extend its offer to our clients, building on the success of our current platforms in the Channel Islands and Luxembourg. The establishment of such operations is fully in line with our firm’s strategy to vertically integrate our value proposition and allow our clients access to local services and expertise.”
Law firm Paul Hastings represented Hansol Paper in its acquisition of Schades Group from Capidea Kapital, a Danish private equity fund.
Schades is a European supplier of thermal paper rolls and self-adhesive labels for specialty applications, which has production and sales subsidiaries in Denmark, Germany, the UK, France, Finland, Sweden and Belgium.
The parties signed the share purchase agreement on 12 September and the transaction closed on 30 September. Following the acquisition, Hansol Denmark ApS, the investment unit of Hansol Paper, will own a 97.5 per cent stake in Schades.
This transaction involved multi-jurisdictional support from
Opsona Therapeutics has raised an additional EUR3m (USD4m) in a second closing of its previously announced series C equity financing from new investor Omnes Capital.
The extension brings the total raised by Opsona in this series C financing to EUR36m (USD48.6m). On 25 April 2013, Opsona raised EUR33m (USD43m) from Novartis Venture Fund, Fountain Healthcare Partners, Roche Venture Fund, Seroba-Kernel Life Sciences, BB Biotech Ventures, Sunstone Capital, Baxter Ventures, Amgen Ventures, and EMBL Ventures.
The company will use the proceeds of this series C financing to supplement funding a three-part multi-centred, double blinded and placebo controlled clinical study
LNK Partners, a private equity firm focused on investing in the consumer/retail sector, has teamed with management to acquire Fitness Connection, a low-price, high-value chain of health clubs.
The size of LNK’s investment and other terms were not disclosed.
Fitness Connection’s strategy combines value pricing of USD9.95 to USD19.95 per month and no long-term contract obligation with a full range of amenities and services including personal training, kid’s club, group exercise classes, and access to swimming pool, basketball, racquetball, women’s only areas, cardio movie theatre, sauna, steam room, and tanning facilities. The company currently has 28 locations in
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