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Private equity firm Encore Consumer Capital has completed the sale of its portfolio company Juice Tyme, a manufacturer and marketer of shelf-stable, bag-in-box juice and beverage concentrates for use in foodservice dispensing machines, to Highlander Partners.
Scott Sellers, managing director of Encore Consumer Capital, says: “This is a bittersweet day for Encore. We are pleased with the successful exit of Juice Tyme and feel that Highlander will be a great partner to carry the company forward. However, we will miss working with Juice Tyme’s talented and dedicated management team. It has been a pleasure working with them as they
RJD Partners has completed the sale of its investment in Ipes, an independent provider of fund administration and outsourcing services.
The transaction values Ipes at GBP50m, giving a return to RJD of 3x its original investment.
Exchange of contracts took place in April, with final completion now occurring following the receipt of regulatory approval in the four financial centres in which Ipes operates.
Ipes is the fourth successful realisation from RJD’s second fund, RJD Private Equity Fund II, which closed in July 2007. The first three realisations were Teaching Personnel, TransLinc and Raphael Healthcare.
RJD backed
Ogier has advised OMERS Private Equity, in equal partnership with Alberta Investment Management Corporation (AIMCo), on its successful bid for Vue Entertainment from Doughty Hanson and management for a value of GBP935m (circa USD1.48bn).
The acquisition was financed by the issue of GBP300m fixed rate notes, EUR290m floating rate notes, a GBP50m revolving credit facility and shareholder loans and equity.
Vue is an operator of modern multiplex cinemas in the UK, Ireland, Germany, Denmark, Portugal, Poland, Latvia, Lithuania and Taiwan.
Working alongside Allen & Overy (Gordon Milne and Joanna Elvidge), cross-departmental teams at Ogier in Jersey played a
Private equity firm Parthenon Capital Partners has completed its acquisition of Bracket from Express Scripts Holding Company.
Bracket, a specialty services provider, assists pharmaceutical companies and CROs maximise clinical data integrity and ultimately achieve greater certainty in trial outcomes with a unique range of solutions that span both eClinical and Scientific Services. With more than a decade of experience, Bracket’s team of experts has worked on more than 1,100 successful trials across 47 therapeutic areas with a particular emphasis on the central nervous system.
“As an independent company, Bracket will now have the autonomy, flexibility and resources to
Maven Capital Partners has been selected as sole fund manager of the new Greater Manchester Loan Fund (GMLF).
The fund has been created to help address the market requirement for finance from small and medium sized enterprises (SMEs) in the Greater Manchester area.
Cornerstone public sector commitment comes from The Regional Growth Fund and the Association of Greater Manchester Authorities.
The fund has the ability to lend up to GBP20m in aggregate, investing in established businesses which have existing cash flows but are currently constrained through being over-geared or under-capitalised. The focus will be on providing funding
SS&C GlobeOp has expanded its European presence with a new Luxembourg office.
SS&C GlobeOp supports diverse fund structures across multiple domiciles and jurisdictions and has expertise in traditional and alternative investment vehicles.
Asset growth of funds domiciled and/or administered in Luxembourg grew more than 16 per cent in the past 12 months to USD2,584,099bn assets under management, according to the Association of the Luxembourg Fund Industry (ALFI).
SS&C GlobeOp’s Luxembourg office offers fund administration and middle-to-back office services, including fund accounting and reporting, share registry and transfer agency services, and investor communications. Managed account platforms, UCITS funds
Nordstjernan is to sell 100 per cent of the shares in KMT Group to American Industrial Partners (AIP).
KMT designs and manufactures products using ultrahigh-pressure (UHP) pump technology in industrial manufacturing, surface preparation, and food processing applications.
Headquartered in Baxter Springs, Kansas, KMT has more than 400 employees and a turnover of approximately USD160m. Its products are available in more than 60 countries and are manufactured at facilities in the US, Sweden and China.
AIP will acquire KMT for an enterprise value of USD147.5m, representing a 6.4x multiple of adjusted 2012 EBITDA.
Tomas Billing, chief executive
Ernst & Young’s global technology update for the second quarter of 2013 shows a mixed picture, with private equity (PE) deal-making soaring while corporate deal-making continued a three-quarter-long slide.
At USD33.4bn, the aggregate value of all disclosed-value deals is essentially flat year-over-year (YOY) and down eight per cent sequentially from Q113. Deal volume in Q213 fell to the lowest level since 2010 with 627 deals, down 14 per cent YOY and five per cent sequentially.
In contrast, PE volume increased for the second consecutive quarter, up 10 per cent YOY and 24 per cent sequentially. PE’s aggregate value
Grant Thornton UK advised on eight private equity mid-market deals last month, accounting for just under a quarter of the 35 investments completed in the mid-market.
The deals Grant Thornton advised on were completed across six industries.
Mo Merali, head of private equity at Grant Thornton UK, ays: “We are seeing increased activity in mid-market M&A during what is normally a quiet time of year for investment. An increase in market confidence across the board has helped and it’s encouraging to see that the mid-market is benefiting from this and continues to be the most active area of
Independent debt advisory firm Tomorrow Partners has signed three transactions over a busy summer period, following the recent launch of its high yield advisory service.
The firm advised Lion Capital and its portfolio company HEMA, the Dutch retailer, on a successful “amend and extend” of circa EUR900m of senior, second lien, mezzanine and PIK facilities which closed on 1 August 2013.
The HEMA deal followed Tomorrow Partners advising HSS, a hire services company backed by Exponent, on raising add-on financing for its acquisition of the UK platforms business of Haulotte Group, which closed on 30 June.
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