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Firms taken over by a private equity buy-out see their performance fall even further behind their industry rivals, according to a new study.
Private equity raises money to buy a company with the primary objective of improving the fortunes of an under-performing firm to ultimately seek a re-flotation on the stock exchange or to sell it on at a profit.
But when researchers at Warwick Business School, Cardiff University and Loughborough University looked at all of the publicly-listed firms that had gone through a private equity buy-out in the UK between 1997 and 2006 that was far from
Mark Cleland (pictured), Corporate Services Director of Capita Registrars comments on the latest ONS trends on UK mergers and acquisitions…
Red hot stock markets did not spur an M&A boom in Q1, and the UK lags behind a revival of activity in the US where there have been some big transactions. The M&A market is still running low on confidence and hurdles remain: the economic recovery is feeble, the Eurozone is in recession and global growth has stuttered.
Even with a large amount of capital at their disposal, the awaited push from Private Equity houses to re-energise the M&A
The Emerging Markets Private Equity Association (EMPEA) has appointed Robert W van Zwieten as its president and chief executive officer.
Jennifer Choi, vice president of industry and external affairs, has served the organisation as acting CEO during the executive search, following the departure of founding president and CEO Sarah Alexander earlier this year.
Van Zwieten (pictured) brings more than 25 years of industry experience in senior leadership roles at financial institutions across the US, Europe and Asia. Most recently, as the Asian Development Bank’s (ADB) director of private sector capital markets based in Manila, Philippines, he oversaw a USD2.5bn
As part of a recent mandate to acquire EUR500m worth of assets, B Capital Partners has guided its client through the purchase of two wind portfolios made up of over 80 MW of operational wind park assets from across Europe’s expanding green energy sector.
The initial portfolio (57MW) was acquired from Solarparc, a subsidiary of SolarWorld, a German stock exchange listed group which specialises in Solar Energy. The second portfolio was acquired from BayWa r.e. renewable energy. Having sourced and negotiated the transactions, B Capital will also manage the assets for its client in the future.
Dr Barbara
Mid-market private equity firm Equistone Partners Europe has exited its Fund II investment in AFI-Uplift, the powered access equipment company, in a transaction that involves the simultaneous acquisition of two smaller businesses at a total deal value of GBP85m.
The transaction sees Rutland Partners acquire a majority stake in AFI-Uplift. AFI has also acquired two separate but complementary businesses: Hi-Reach and Access Rental Gulf.
Wakefield-based AFI is a provider of powered access machines to a range of sectors including construction and infrastructure maintenance. It also provides training and machine maintenance services.
AFI has enjoyed organic and acquisitive growth
Fiduciary, funds and corporate services provider First Names Group has appointed Morgan Jubb as group chief executive officer.
Jubb (pictured) will replace the current CEO Declan Kenny who will move in to the role of group executive chairman.
Jubb joined First Names Group as the MBO from IFG completed in July 2012. He was appointed as chief financial and operating officer to drive the development and growth of the group through deep functional management strength, processes and systems. He has also worked together with Kenny in driving the group’s acquisition strategy, so far securing fund business Moore Management
On the eve of the G8 Impact Investment Forum, hosted by UK Prime Minister David Cameron on 6 June, LeapFrog Investments has announced new figures that demonstrate how investors can marry strong financial results with social impact.
LeapFrog, the emerging markets fund manager, says its portfolio companies now reach 23.7 million people in Africa and Asia with financial tools, 13.2 million of whom are poor or low-income.
This has been achieved alongside accelerated profitability and growth, with an average revenue increase in 2012 of 24.6 per cent across LeapFrog’s portfolio of companies. By contrast, during this period global
HgCapital has sold ATC to Intertrust for an enterprise value of EUR303m.
This realisation represents an investment multiple of approximately 2.2x original cost and a gross IRR of 37 per cent over the two year investment period for HgCapital’s clients.
HgCapital completed its investment into Amsterdam-based ATC in March 2011. ATC had been independent since 1893 and HgCapital was the first external investor in the business. ATC provides fiduciary, management and administration services to multinational corporations, financial institutions and fund managers. The fiduciary services segment was identified as a high growth and robust market by HgCapital’s services team over
Edmond de Rothschild Investment Partners’ Winch Capital 2 fund has taken a minority stake in MCI, joining existing investor Iris Capital, which invested in MCI in 2010, in backing the professional congress and conference organiser (PCO).
MCI has a strong presence in the pharmaceutical sector. Almost 100 senior executives and managers own shares.
The group’s management team (Roger Tondeur, Sébastien Tondeur, Jurriaen Sleijster and Robin Lokerman) aims to accelerate MCI’s international development by maintaining a strong acquisitions drive.
François-Xavier Mauron and Sophie Nordmann-Caetano, investment directors at Edmond de Rothschild Investment Partners, says: "We are delighted to help
Kölleda-based Funkwerk AG has sold its UK subsidiary, Funkwerk Information Technologies York, to the Trapeze Group of Canada.
Funkwerk Information Technologies York has until now been a wholly-owned subsidiary of Funkwerk Information Technologies, Kiel, which is in turn wholly owned by Funkwerk AG, headquartered in Kölleda.
An international team from CMS Hasche Sigle and CMS Cameron McKenna led by corporate law expert and lead partner Eckhart Braun advised Funkwerk AG on all aspects of the cross-border transaction.
Funkwerk York markets software solutions to customers worldwide for the planning, simulation and management of railway infrastructure for local and
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