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Intervale Capital has acquired Milam Tool Company, a specialist in the development and commercialisation of solid-body centralisers for horizontal well applications.
Headquartered in Oklahoma City, Milam has built a premium brand in casing centralization.
Intervale is a private equity firm which invests exclusively in oilfield manufacturing and service companies.
In conjunction with the Milam transaction, Intervale also acquired K&M Machine Works, a Houston-based manufacturer of threaded couplings, stop collars, crossovers, and sub-assemblies for the casing accessories market. K&M’s products are used in both onshore and offshore applications.
The assets of both Milam and K&M will
Total assets managed by the top 100 alternative investment managers globally reached USD3.1trn in 2012, according to research produced by Towers Watson and published in conjunction with the Financial Times.
The Global Alternatives Survey, which covers seven asset classes and seven investor types, shows that of the top 100 alternative investment managers, real estate managers have the largest share of assets (34 per cent and over USD1.0trn) followed by direct private equity fund managers (23 per cent and USD717bn), direct hedge funds (20 per cent and USD612bn), private equity funds of funds (10 per cent and USD315bn), funds of
Sequent Software, a provider of trusted service manager (TSM) and mobile commerce software and services, has closed a USD12m series B financing led by SBT Venture Capital, the venture arm of Russian bank Sberbank.
Existing investors Opus Capital and Jado Investments also participated.
The new funding will fuel Sequent’s growth as it drives worldwide commercial deployments of its TSM and wallet platform with mobile operators and card issuers including leading banks. Mircea Mihaescu from SBT Venture Capital will join the company’s board.
"Sequent’s TSM and wallet platform has been adopted and deployed by mobile network operators and
Deutsche Bank has released a white paper on how managers can chart a smooth course through AIFMD implementation, and argues that adoption of an integrated model will be the most cost-effective option, with minimal disruption to a hedge fund business.
Entitled ‘Charting a smooth course through AIFMD implementation’ its aim is to highlight the changes and challenges that face alternative fund managers, and how Deutsche Bank’s AIFMD-compliant solution is able to help managers operate under full compliance and transparency under the Directive.
One of the key changes is the central role that depositaries will now play and the strict
Private equity real estate fund manager Queensgate Investments has exchanged contracts to acquire Executive Offices Group, a central London serviced office business.
Executive Offices Group has provided office accommodation to businesses for over 20 years and represents a combination of high-quality central London real estate with an established operational company.
The group, which is being sold by Morgan Stanley Real Estate, controls 28 high-quality serviced offices, totalling approximately 513,700 sq ft in Mayfair, Belgravia and the City of London. Key assets include 33 St James’s Square, SW1, 78-79 Pall Mall, SW1, 53 Davies Street, W1, 84 Brook Street,
Lucas Wurfbain at Insparo Asset Management comments on the long term outlook for Egypt…
The elation of the Egyptian people is palpable but when the dust settles we are once again confronted by the stark reality of the Egyptian economy. Inflation has spiked, unemployment is much higher (82% of people between 15-29 are unemployed) and tourism revenue has slumped.
The country needs a cash infusion otherwise its ability to import fuel and food becomes severely restricted and we can quickly spiral towards crisis. The incoming government needs to provide clarity and stability and restore the normal processes of the country so that
AXA Private Equity is to acquire, through its infrastructure funds, Unicredit’s 40 per cent stake in HISI (Holding di Investimenti in Sanità e Infrastrutture).
AXA Private Equity already owns 40 per cent of the share capital of HISI and, following this acquisition, the firm will own 80 per cent of the company’s capital.
HISI is a holding company which owns 65 per cent of Genesi Uno, an Italian project company awarded a 28 year concession to design, build and operate a 550 bed hospital in Legnano, Lombardy. The construction of the hospital commenced in March 2006 and completed
Climate Change Capital Private Equity’s (CPE) portfolio company Orège has completed an initial public offering on the French Euronext market, raising EUR20m of new capital to fund its next phase of growth and valuing the company at circa EUR60m.
CPE invested EUR6m in Orège, a French water technology company, in 2011.
CPE was the largest institutional investor pre-IPO and remains one of the largest investors post-IPO.
Alex Betts, a managing director of CPE, says: "The IPO places a market value on Orège of circa EUR60m, which represents a significant increase in the company’s valuation since CPE’s original investment.”
ECI Partners, the UK growth-focused mid-market private equity firm, has sold healthcare IT company CliniSys to Montagu Private Equity.
The exit has yielded ECI a 2.5x return on its investment.
Based in Chertsey, and with offices in Germany, France, Belgium and Spain, CliniSys is a provider of software solutions to clinical laboratories across Europe. The company’s laboratory information systems help customers deliver timely and accurate test results to a wide range of constituents across the healthcare delivery chain. Solutions have been successfully deployed in over 2,000 laboratories with more than 22,000 users in 34 countries.
Technological advances,
Cycle Capital Management (CCM) has launched Cycle Capital Fund III, a venture capital fund in the clean technology sector which targets companies at the commercialisation stage.
The announcement was made by Andrée-Lise Méthot (pictured), founder and managing partner of Cycle Capital, accompanied by Quebec Premier Pauline Marois and Minister of Finance and the Economy Nicolas Marceau.
The Cycle Capital Fund III will invest in sectors involving energy efficiency, green agriculture and chemistry, industrial applications, transportation, clean energy and fuels, and waste upgrading and transformation. Cycle Capital favours projects with the highest performance that help improve process efficiency.
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