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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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Private equity firm Wynnchurch Capital has acquired Imperial Group from Accuride Corporation, in partnership with BMO Mezzanine Fund and a management team led by chief executive officer Terry Wogan.
Imperial is a metal fabricator supplying light and medium gauge fabricated metal components, precision metal stampings, and value-added assemblies serving heavy truck, bus, and industrial OEMs. Imperial has operations in Portland, Tennessee, Decatur, Texas, Denton, Texas, Dublin, Virginia, and Chehalis, Washington.
“Imperial has built an impressive franchise in the metal fabrication industry and is well positioned to take advantage of the anticipated recovery in its end markets. Our goal
Halyard Capital, a New York-based private equity fund, has sold its portfolio company Engauge Marketing to Publicis Groupe, the marketing services holding company.
Financial terms have not been disclosed.
Engauge is a digital advertising services agency in the US. Engauge was founded by Halyard Capital in partnership with the legendary marketing executive Stan Rapp, with the goal of bringing together innovative, best-of-breed marketing capabilities under one unified brand.
Launched in 2007, Engauge was formed through the union of Ten United, a Columbus, Ohio-based advertising agency with offices in Pittsburgh and Orlando; Spunlogic, a digital marketing services company
Lyceum Capital has led the acquisition of vehicle tracking and fleet management software provider Isotrak from Saints Chamonix Private Equity to accelerate the company’s UK and North American expansion strategies.
Investing alongside the existing management team Lyceum has taken a majority share in the business, which recently won contracts with a number of leading retailers in North America to add to its blue chip UK customer base.
Established in 1999, Isotrak provides vehicle tracking and fleet management software to enable businesses that operate large fleets of heavy goods vehicles (HGVs) and light commercial vehicles (LCVs) to reduce costs,
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