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Dallas-based private equity firm glendonTodd Capital has appointed David Novak as president at Chemical Information Services (CIS).
John Harris stepped down as chief executive of CIS on 31 October to return to his role as an operating partner at glendonTodd.
Novak (pictured) will report to Todd Furniss, chairman of the board of CIS and CEO and managing partner at glendonTodd.
“We are grateful for John’s contribution and service to CIS,” says Furniss. “David’s marketing acumen, sales focus and attention to operational execution substantively expands our firm’s leadership and functional competence. David is rapidly positioning CIS as a cloud-based services provider
The European Private Equity and Venture Capital Association (EVCA) has launched the EVCA Handbook of Professional Standards for the Private Equity and Venture Capital Industry.
Private equity firms and their investors, including insurance companies and pension funds, have committed to a comprehensive joint set of professional standards for the first time in the industry’s history.
This reflects the unusually close alignment of interests between private equity firms and the institutional investors which invest in private equity.
The handbook brings together these groups under a unified set of values for the entire industry. In 2010, the EVCA expanded its membership to
Global professional services firm Alvarez & Marsal (A&M) has added a dedicated transaction advisory group (TAG) to its German office, which forms part of A&M’s pan-European business.
This is in addition to its established business lines of restructuring, performance improvement (PI) and global forensic and dispute services (GFD) in Germany.
Jürgen Zapf has been appointed as managing director to lead the TAG practice based in Munich.
The move follows continued demand from private equity sponsors and strategic acquirers in Europe for a differentiated due diligence offering, which combines financial accounting, tax and operational due diligence services. In the wider
Blackstone has launched a solar programme that has the potential to cut energy costs by approximately 10 per cent and improve environmental performance across the portfolio of companies and real estate assets it manages on behalf of its investors.
This collaborative initiative by Blackstone’s private equity, real estate, and advisory businesses is part of an ongoing effort to focus on sustainability across the firm for companies it manages and advises.
The programme will install solar panels and systems on the rooftops of select portfolio companies. Installation of these systems is free of charge and they will be owned, operated, and
At the end of October, HVPE’s estimated net asset value per share was USD11.54, a nominal USD0.01 per share (0.1 per cent) decrease from 30 September 2012.
This change mainly reflects decreases in the value of publicly-traded investments and ongoing operating expenses, which were partially offset by an increase the valuation of Absolute Private Equity and positive foreign currency movement.
At 31 October 2012, HVPE is valuing the Absolute portfolio at USD24.89 per share (including dividends received since closing), which is a USD0.23 increase over 30 September 2012 and a 34.5 per cent increase over the purchase price of
Highland Capital Partners has strengthened its consumer internet and digital media practice with the appointment of Manish Patel as a partner in its Menlo Park office.
After spending nearly seven years at Google building the products and teams responsible for many of the company’s key product offerings, from AdWords and AdSense, to Google TV and Google Maps, Patel (pictured) joined Highland in late 2010 to extend the firm’s reach into the Bay Area entrepreneurial community.
His background in engineering and design has been instrumental in growing the firm’s local portfolio, with active involvement in Leap Motion and Game Closure, among
International legal practice Norton Rose is to combine with US law firm Fulbright & Jaworski on 1 June 2013 to form Norton Rose Fulbright.
Norton Rose Fulbright will have 3,800 lawyers and will be a top 10 global legal practice by gross revenue and by number of lawyers.
The enlarged practice will have 55 offices internationally, including 11 offices and close to 800 lawyers in the US, in Austin, Dallas, Denver, Houston, Los Angeles, Minneapolis, New York, Pittsburgh-Southpointe, San Antonio, St Louis and Washington DC.
Norton Rose Fulbright will also have an office in Riyadh and additional strength in London,
Base79, a European online video company, has received an equity investment from The Chernin Group (TCG), alongside continued participation from existing investor MMC Ventures.
Proceeds from the round will be used to accelerate Base79’s expansion across Europe and into other global territories, to build owned-and-operated brands and channels, and to invest in the company’s products and technology.
Founded in 2007, the company has offices in London, New York and Sydney, and has plans to increase its presence in continental Europe within the next 12 months.
Base79 partners with video rights holders and producers to build online audiences and brands, claim
Atlas has acquired Erickson Framing through its newly formed company, Erickson Framing Holdings.
Erickson Framing was acquired from Masco Corporation, a producer of home improvement and building products.
Erickson is a construction services and pre-fabricated building products company that provides turn-key framing services, framing packages, trusses and other products to builders and developers.
Erickson’s primary geographic markets include Arizona, Northern California and the greater Reno, NV area.
Erickson was acquired by Masco in 2007.
This acquisition reflects Atlas’ investment strategy of purchasing and transitioning divisions of a larger corporate parent into strong, independent companies. While Erickson has struggled through the
In a year defined by low interest rates, buyers continued to look to spend cash reserves on mature acquisition targets, according to SRS | Shareholder Representative Services’ 2012 SRS M&A Deal Terms Study.
The new study, which reports on over 200 data points and builds on data from prior SRS studies, covers 342 acquisitions on which SRS served as the shareholder representative, including mergers, asset purchases and stock purchases.
In aggregate, these deals represent USD55.3bn in stated deal value with USD42.7bn paid at closing, USD4.9bn held in escrow and USD7.7bn in defined earn-out consideration. For the first time, the study
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