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Mid-market private equity provider LDC has invested to support the management buyout of Equiom Limited, a provider of fiduciary and administration services.
Headquartered in the Isle of Man, Equiom is a trust and corporate service specialist. The business provides a range of fiduciary, administration and management services across a variety of asset classes to a diverse customer base that incorporates large corporates as well as high net worth individuals.
In addition to its core trustee and company services, which account for 70 per cent of its business, Equiom operates niche business lines including yachting, aviation and e-Gaming.
Chemicals group Novacap, which is majority owned by Axa Private Equity, has agreed to acquire a majority stake in Taixing Yangzi Pharm Chemical.
Yangzi is located in Taixing Economic Development Zone, near Shanghai, and is one of the leading Chinese producers of Para-Amino-Phenol (PAP), a chemical intermediate mainly used for the production of paracetamol.
During 2010 and 2011, Yangzi updated its technology from iron reduction to catalytic hydrogenation and its products are widely recognised in the pharmaceutical industry as the benchmark in terms of quality and purity. In 2012, Yangzi employed 375 employees and recorded EUR71m of sales.
The gross amount of cash being hoarded by FTSE 100 companies has increased by GBP42.2bn since the full effects of the recession set in, a rise of more than a third, according to research commissioned by Capita Asset Services, part of Capita plc.
The analysis of the balance sheets of FTSE 100 companies (excluding financials such as banks) shows that cash and cash equivalents have hit GBP166bn – up GBP42.2bn, or 34 per cent compared to 2008, as companies cut investment and retained earnings following the financial crisis.
This increase in gross cash balances is equivalent to more
Masharie, an investments subsidiary of Dubai Investments PJSC, has sold a strategic equity stake in Anchor Allied Factory to Alkhabeer Capital, Saudi Arabia.
The investment is another cross-border M&A which has seen the flow of funds between the Arab countries and is testimony to the potential partnership opportunities existing in the region for investors and entrepreneurs.
The investment was made through Alkhabeer’s asset management private equity division. This acquisition will help Anchor Allied further expand its footprint within Saudi Arabia and also focus on growth opportunities through vertical as well as horizontal integration.
Established in 1993, Anchor
Hogan Lovells has advised the senior management of Aim Aviation on its secondary buy-out by TowerBrook Capital Partners from existing investor LDC.
The transaction is subject to regulatory approval and is expected to complete in Q4 2013.
TowerBrook, an investment management firm, has acquired a controlling stake in AIM Aviation from UK mid-market private equity house LDC, for an undisclosed sum. UK-based AIM Aviation designs, engineers and manufactures cabin interiors for the world’s major airlines on Airbus, Boeing and military aircraft.
Hogan Lovells also previously advised the management team on the original buy-out by LDC in 2010.
Cinven portfolio company Host Europe Group has acquired Telefónica Germany Online Services (TOS), a subsidiary of Telefónica Deutschland, for an undisclosed consideration.
This acquisition will further strengthen Host Europe’s position as a leading provider of enterprise hosting solutions to small and medium-sized enterprises, and enable the company to deliver highly technical solutions to its client base.
Thomas Vollrath, chief executive of Host Europe Group, says: “We are excited to welcome TOS to our group portfolio. Combining TOS’ significant high-end hosting expertise with our cloud and mass hosting capabilities will mean we are better placed than ever to deliver
Kreditech has obtained funding from Europe’s largest growth debt provider Kreos Capital, securing a credit line of up to USD7m.
The funding has been obtained from the Kreos Capital IV growth debt fund, which recently held its final close at USD320m. Besides Kreditech, other high-growth companies which have received funding include Openet, Heptagon, Westwing, and Solaredge.
“We are successively moving to debt as the appropriate source of capital for refinancing our loan book,” says Sebastian Diemer, chief executive of Kreditech. “This is a breakthrough innovation in a previously equity-financed business. It will be the foundation for further innovation
The voluntary public tender offer for Kabel Deutschland submitted by Vodafone on 30 July 2013 has met the required 75 per cent minimum acceptance condition.
Vodafone will publish the final acceptance ratio on 16 September 2013.
The consummation of the takeover remains subject to antitrust approval.
A further two-week extended acceptance period follows according to the German Securities Acquisition and Takeover Act. Kabel Deutschland shareholders who have not yet accepted the offer can tender their shares between 17 September 2013 and midnight (CET) on 30 September 2013.
Vodafone’s offer values Kabel Deutschland at EUR87 per share.
Platte River Equity has appointed Kristian Whalen as managing director.
Whalen comes to Platte River following the raising of its USD405m third fund, which closed in late 2012.
Whalen brings 15 years of experience as a private equity investor in numerous industrial and service-based operating companies. He will focus on investments in Platte River’s target industrial sectors, which are complementary to Whalen’s prior experience.
Prior to joining Platte River, Whalen was a managing director and co-head of diversified industries in the New York office of Vestar Capital Partners. At Vestar, Whalen pursued management buyout transactions across a broad spectrum
EMIS Group has conditionally agreed to acquire Ascribe Group, a software and IT services provider to the UK’s secondary healthcare market, from ECI Partners and certain other vendors for an initial enterprise value of GBP57.5m.
Ascribe was taken private by ECI from the AIM market in January 2009 in a GBP33m public to private transaction. This deal provides an initial consideration of GBP57.5m with further monies due contingent on short term performance. From the initial cash consideration alone, ECI has yielded a 2.1x return on its investment.
As part of this transaction, Numis Securities has placed 4,400,000 new
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