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A private equity fund managed by Blackstone on behalf of its private equity investors has acquired a controlling interest in two Maldives-based seaplane operators – Maldivian Air Taxi (MAT) and Trans Maldivian Airways (TMA).
Following the transaction, Lars Erik Nielsen (founder of MAT), Lars Petré and Hussain Afeef (majority shareholders of TMA) will retain a substantial shareholding and continue to play a significant role in the companies, including serving as directors on the board. The terms of the transaction have not been disclosed.
Maldives is a popular tourist destination with over 1,000 islands. With a unique “one-island one-resort” concept, Maldives
International investment bank Altium has formed a partnership with Allegro Advisors, a full service investment bank in India.
The partnership will strengthen Altium’s global presence and provide the firm’s clients with access to a strong international M&A advisory network.
Allegro provides a range of services including M&A, capital raising, debt restructuring and IPOs, which will complement Altium’s highly specialised advisory team, which operates across a number of key sectors.
The announcement comes shortly after Altium entered into a similar arrangement with the US investment bank Petsky Prunier, which will also be part of the alliance with Allegro.
Phil Adams (pictured),
Bain Capital Partners has completed the acquisition of Apex Tool Group, a tools manufacturer.
The purchase from Danaher Corporation and Eaton was valued at approximately USD1.6bn.
Apex Tool is one of the largest global producers of industrial hand and power tools, tool storage, drill chucks, chain, and electronic soldering products for industrial, commercial and demanding do-it-yourself applications. Based in Sparks, Maryland, the company serves a variety of markets, including automotive, aerospace, electronics, energy, hardware, industrial, and consumer retail.
Apex Tool will continue to be led by Steve Breitzka as president and chief executive officer, and the current management team.
“Bain
Chase Templeton Group, one of the UK’s largest private medical insurance (PMI) specialist intermediaries, has secured investment from Palatine Private Equity.
Chase Templeton was founded in 2002 by Kevin Amphlett and is the major consolidator in the PMI broker sector having undertaken 10 acquisitions over the past few years. The move secures the firm’s strategy to undertake further acquisitions of PMI and employee benefit specialist services.
The company operates from offices in Blackburn and Bridgwater in Somerset and employs 50 people. Turnover is expected to reach about GBP12m by the end of 2013.
The investment is the first
The media:tech sector team at Livingstone Partners has sold Taste Festivals to IMG Arts and Entertainment, part of IMG Worldwide, the sport, entertainment and media company.
Livingstone advised Taste Festivals’ parent company, Brand Events, and its investor Ingenious Media Active Capital on the transaction.
Taste of London and the company’s other international festivals bring together the latest restaurants and world famous chefs to offer signature dishes and inspiration to thousands of foodies in one location over four days. Since its launch, Taste Festivals has rapidly grown into a global phenomenon. Taste now runs annual events in 17 cities across the
Private equity firm Versa Capital Management has launched Vestis Retail Group, a retail platform that comprises two retailers owned by Versa: Bob’s Stores and Eastern Mountain Sports (EMS).
EMS is the second largest US multi-channel retailer of human-powered outdoor sports apparel and equipment. Bob’s sells value-oriented footwear, apparel, work wear and accessories.
As part of Vestis, Bob’s and EMS will share certain operational functions and enterprise resource planning (ERP) systems, but will remain separate and distinct retail brands in stores, merchandise and online.
The capitalisation and working capital requirements of Vestis will be supported by a new USD95m revolving credit
Venture capital and growth equity firm Crosslink Capital has appointed David Courtney as general partner and chief operating officer.
His responsibilities include direct oversight of operations, finance, compliance and human resources.
He reports to Michael Stark, founder and general partner of Crosslink Capital, and is based in the firm’s San Francisco headquarters.
“The chief operating officer is an important component of our leadership team at Crosslink,” says Stark. “We have known David for many years. He has exceptional operational and leadership skills, as well as a strong background in compliance that will further strengthen the team we have in place
Oakley Capital Private Equity has sold Emesa Group, an online consumer auction platform in the European leisure industry, to Cyrte Investments for a gross consideration of EUR95m.
Oakley Capital Private Equity originally acquired Emesa Group in March 2011 for consideration of EUR35m.
The transaction represents a 3.6x gross return for the fund in less than two years of ownership, with an IRR in excess of 100 per cent.
Peter Dubens, director at Oakley Capital Private Equity, says: “Emesa has been another successful investment for the limited partnership. This is a significant disposal for the fund and delivers an attractive
A resurgence of investor confidence in public markets in the closing months of 2012 has left private equity funds facing an increasingly competitive environment for deals, according to research released by BDO’s corporate finance team.
With private equity already facing a dearth of quality deals, public company valuations have risen to their highest levels since Q2 2011, meaning that vendors now have a wider choice of where they sell their business.
BDO’s research shows a clear convergence as private equity valuations fell 18.6 per cent while public market valuations rose. The average price/earnings multiple paid in private equity transactions
Two of Kirtland Capital Partners’ portfolio companies have completed strategic add-on acquisitions.
Precision Dialogue, based in Chicago, acquired Hub Marketing Solutions, while SmartSource Computer & Audio Visual Rentals, headquartered in Long Island, NY, acquired CRE Computer Rentals & AV Solutions.
Precision Dialogue is an analytics-driven customer engagement firm that improves marketing ROI using customer insights to execute personalised, relevant multi-channel communications.
Hub is a provider of marketing data management and business intelligence solutions designed to enable dialogue-based customer management strategies. The Hub acquisition will add scope and scale to Precision Dialogue’s customer engagement solutions.
Precision Dialogue engaged Jones Day and
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