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Private equity firm Banyan Capital Partners has acquired a majority interest in MIP Inc.
Banyan is partnering with the company’s chief executive David Arditi and executive vice president of operations Aviyam Friedman, both of whom will carry on in their existing roles with MIP. Co-founder David Schreiner will continue leading the company’s growth into South American markets.
Founded in 1978, MIP is a manufacturer and distributor of high-performance textile and related products to hospitals and long-term care facilities throughout North America, Europe, the UK and South America.
Jeff Wigle, managing director of Banyan Capital Partners, says: "We perceive
The second quarter of 2013 has shown positive signs of a gradual return to more stable transactional activity following several years of volatility, according to Appleby.
Renewed confidence in offshore transactions and an increase in deals between Q1 and Q2 2013, have been highlighted in the latest Offshore-i Report released today by Appleby, one of the world’s largest providers of offshore legal, fiduciary and administration services. The latest edition of Appleby‘s quarterly report, which provides data and insight on merger and acquisition activity in major offshore financial centres, focuses on the second quarter of 2013.
The Appleby report
By Ugo M Giordano, partner and Sofia De Cristofaro, senior associate, Paul Hastings – The Alternative Investment Funds Managers Directive (the “AIFMD”) and the level 2 delegated Regulation No. 231/2013/EU entered into force on 22 July 20131, but the legal framework for the full transposition of the AIFMD in Italy is not yet in place.
However, on 26 July 2013 the Italian securities regulator (CONSOB) and the Bank of Italy, consistent with the action taken at the time of the entry into force of the UCITS IV Directive in summer 2011,2 issued a resolution (the “Joint Resolution”), allowing for an
JZ Capital Partners (JZCP), a private equity fund that invests in high quality US and European micro cap companies, has expanded its European portfolio by making two micro cap investments in the UK and Germany.
JZCP has co-invested GBP9m to acquire 36 per cent of the Winn Group, which specialises in personal injury cases and is a UK legal services firm. It also provides replacement car hire, credit repair advice and medical treatment services. The Winn Group was founded in 2002 and employs nearly 300 people in Newcastle.
Souter Investments, the investment vehicle of Sir Brian Souter, the
Firms advised by private equity firm Crestview Partners have closed the acquisition of direct-to-consumer beverage services provider DS Waters.
The company will maintain its headquarters in Atlanta, Georgia.
Tom Harrington, president and chief executive officer of DS Waters, says: "As a result of this new partnership with Crestview, we are more confident than ever in our ability to expand our product and service offering and geographic reach while maintaining our outstanding customer service in metropolitan markets throughout the US."
Jeffrey Marcus, a partner at Crestview, says: "We are very pleased to have the opportunity to participate alongside
Scronce & Associates is a new private equity group that invests in small to mid-size privately owned entrepreneurial companies located in the southeast US with revenues from USD1m to USD15m that are in transition and need both financial and business support.
Tim Scronce (pictured), president/chief executive of Scronce & Associates, says: "With revenues in this range, many banks and private equity companies are reluctant to provide capital due to size or insufficient assets to raise debt. In today’s uncertain economic environment, banks have tightened their lending criteria and many private equity firms will only invest in larger ventures."
Icelolly, a UK online holiday price comparison provider, has completed a GBP17m management buyout backed by Palatine Private Equity.
Bradford-based Icelolly is a holiday price comparison provider with the main brand being Icelolly.com. The Icelolly.com holiday price comparison website offers around 40 million holiday packages from over 50 UK-based tour operators. The business also trades as an online travel agent via a series of brands, as well as selling advertising space via its site traffic and email database.
The company has enjoyed year-on-year growth since it was founded in 2005 and is expected to generate record turnover and
The Riverside Company has acquired Rutland Plastics, a provider of screen printing inks for the apparel industry and plastisol compounds used in coating, moulding and other applications for automotive and industrial customers.
Rutland has more than 1,100 active ink customers globally. The company’s customers and end-users range from global apparel leaders and large ink distributors to local print shops. Rutland was founded in 1962 and is based in Pineville, North Carolina.
“Rutland’s deeply loyal customers are a testament to the company’s premium products and strong technical support and customer service,” says Riverside partner Tim Gosline. “The company serves
Jarden Corporation is to acquire Yankee Candle Investments from a fund managed by private equity fund Madison Dearborn Partners for approximately USD1.75bn in cash.
The transaction will extend Jarden’s portfolio of consumer brands in niche, seasonal staple categories, while creating opportunities in cross-selling, broadening the global distribution platform, and deepening Jarden’s talent bench.
Upon closing the transaction, Jarden would have pro forma net sales and adjusted EBITDA of approximately USD7.7bn and USD1.0bn, respectively, for the 12 months ended 30 June 2013. As an addition to Jarden’s branded consumables segment, Yankee Candle will further balance Jarden’s portfolio, expanding this
Platinum Equity has closed Platinum Equity Capital Partners III, a buyout fund focused on investing in businesses that can benefit from Platinum’s operational expertise.
The fund closed on its target size of USD3,750,000,000 in capital commitments. It is the successor to a USD2,750,000,000 fund that closed in 2008 and a USD700,000,000 fund that closed in 2004. Prior to the first fund, Platinum invested more than USD525,000,000 in founders capital.
"We are excited about the continued support for our firm’s growth and its future," says Tom Gores, founder and chief executive officer of Platinum Equity. "Our job will be
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