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NVM Private Equity has sold one of its long-standing investments, Interlube Systems, to a subsidiary of US based The Timken Company.
The sale represents a money multiple of 3.0x on NVM’s original investment.
Interlube is based in Plymouth, UK, and manufactures and markets automated lubrication products for use in commercial vehicles, cranes, quarries and heavy-duty production lines.
Timken is based in Ohio, US, and engineers, manufactures and markets mechanical components and high-performance steel. Timken has been steadily adding to its portfolio of businesses and sees Interlube as compatible to its core product lines and power transmission acquisitions.
NVM invested in
International law firm Locke Lord has increased its presence in Hong Kong through an association with the law firm Cheung & Lee.
Five experienced partners from Hong Kong-based Cheung & Lee – Balbir Bindra, Wing Cheung, Alfred Lee, Tej Mahil and Matthew Wong – will form the initial core team of Locke Lord’s expanded international footprint in the region and boost the firm’s capabilities to serve clients on a number of fronts.
The Hong Kong solicitors will collaborate with Locke Lord’s 34-member London team as well as with the firm’s 11 US offices to serve an increasingly global marketplace. The
Chrysalix Energy Venture Capital (Chrysalix EVC), a cleantech venture capital firm and a member of the Chrysalix Global Network (CGN), has made an investment in MineSense Technologies, a provider of sensor-based sorting systems to pre-concentrate low-grade ores in the metal mining industry.
The series A round was done exclusively by Chrysalix EVC and marks the first time the firm has invested in a start-up dedicated to mining technology.
“Mining has always been a highly energy-intensive industry. However, it faces mounting challenges with declining ore grades and less favourable ore bodies, further exacerbating energy use and squeezing margins. Now is a
ABB, the power and automation technology group, has led a USD12m investment in Scotrenewables Tidal Power, a provider of tidal turbine systems, to support the rollout of a new hydrokinetic device and to expand ABB’s renewable energy assets.
ABB’s participation was made through its venture capital unit, ABB Technology Ventures (ATV), which invests in early and growth stage companies with technologies of strategic importance to the industries it serves. The investment round included participation from existing strategic investors Total New Energies, a unit of oil major Total, and Fred Olsen, the Norwegian maritime conglomerate, through its associated Bonheur and Ganger
India’s drive to lure investors from overseas received a boost in 2012 with the adoption of the Qualified Foreign Investor initiative, but to remain one of the world’s top investment destinations the nation should review its depositary receipt (DR) regulations, says BNY Mellon in its new report, ‘India: Easing Conditions for Investors’.
India’s first depositary receipt programme for Reliance Industries was established in 1992. Since then, only 13 Indian corporate have established American Depositary Receipt programmes. As a result, consensus is growing amongst the global investment community that India needs to consider re-evaluating its DR rules to stay abreast of
While many market observers are impressed by suddenly soaring European stocks, Paul Chew, Head of Investments at Brown Advisory is sceptical about a continued run in 2013…
Europe is a land of contradictions which was clear in 2012 as its economy and capital markets took off in opposite directions. While on the one hand, the EU is struggling with multiple sovereign-debt crises, and even though it fell back into recession, European stocks have in fact turned in excellent performance.
Yet we remain unconvinced that European equities will continue their strong run. European policymakers may have prevented a financial crisis last year,
Stuart Watson, partner at Ernst & Young, responds to Science and Technology Select Committee findings on entrepreneurship funding…
“Companies developing new science and technology tend to be either a great success or a great failure and those funding such ventures will need to be prepared to take an equity risk. This is where venture capital investment is extremely important and should be valued and enhanced, rather than discouraged, to develop the UK as a world centre and keep up with its rivals.
“European venture capital deals are at their lowest rate since 2000, according to a recent Ernst Young
Specialist fund services firm, Ipes, has appointed Sharon Alvarez (pictured) as head of risk and compliance for the group.
This newly-created role forms the centrepiece of the firm’s investment in both assisting clients to prepare, and preparing internally, for the challenges associated with increased regulation.
Kevin Brennan, Chief Executive for Ipes, says: “The funds industry has been hit with a barrage of new regulations. This poses a governance challenge and we have a responsibility to our clients to be thorough and proactive in our response.
“A real focus is required to ensure that we remain ahead of the changing rules
Marley Coffee has settled over USD1 million in debt and trade payables, removing these obligations from its balance sheet, in exchange for the issuance of shares of its common stock to Ironridge Global IV, an institutional investor specialising in direct equity investments in consumer product companies.
Ironridge previously purchased certain debts of the Company held by third party creditors, which make up the amount settled.
The Company continues to pursue an aggressive growth strategy to meet surging customer demand. This transaction is intended to increase Marley Coffee’s future cash flows and strengthen its balance sheet, which will in turn give
A survey by Preqin of over 40 global private equity investors with an interest in Latin America shows that investors continue to look to invest in the region, despite fundraising levels decreasing significantly to 22 funds raising a total of USD5.1bn in 2012, from the 41 funds targeting the region that closed in 2011 on an aggregate USD15.2bn.
Preqin Special Report: Latin America reveals that 28% of investors with existing exposure to or an interest in investing in Latin America will be increasing their private equity allocations to the region over the next 12 months, and 61% will be maintaining
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