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MidSpan Partners has sold Jordan Technologies to Flare Industries, a portfolio company of Texas-based private equity firm Turnbridge Capital.
Jordan Technologies is a supplier of vapour recovery units (VRUs) and the largest service provider for VRUs in the world. MidSpan Partners served as the exclusive financial adviser to the Jordan shareholders.
“From our first meeting through to the closing, the MidSpan team was an invaluable partner,” says Mark Jordan, president, Jordan Technologies. “They worked closely with management and the shareholders through every step of the process and were able to guide the Company through the intricacies of the sell-side process.
There has been considerable market and press debate in the UK in recent weeks about potential changes to the Retail Prices Index, and as usual, various disastrous scenarios have been foretold. Jonathan Gibbs (pictured), Investment Director and Head of Real Returns at Standard Life Investments, attempts to separate the truth from the scare mongering, and assess likely outcomes…

Inflation data are high up the watch-list for investors and policymakers around the world. Are price trends contained, opening the door for further monetary easing, or do CPI numbers give warning signs, putting policy on hold? Complications arise though when questions begin
Nearly three-quarters (72 per cent) of fund managers view the Alternative Investment Fund Managers Directive as a business threat, according to a survey carried out by Deloitte.
The biggest concerns for fund managers are depositary costs (84 per cent), delegation (78 per cent), changes to contractual arrangements and routes to market (67 per cent). Collectively these reduce the attractiveness of Europe as a place to do business.
Smaller managers, private equity and real estate are more likely to see AIFMD as a business threat. Those companies that regard AIFMD as an opportunity manage at least GBP1bn of assets.
Stuart Opp,
Three quarters of private equity investors with Latin American private equity exposure see the region’s potential for economic growth and dealflow as attractive in comparison with other emerging PE markets, according to the first annual Coller Capital/LAVCA Latin American Private Equity Survey.
The region’s entry valuations and political climate are also viewed favourably compared with other emerging PE markets.
In consequence, aggregate new fund commitments by existing investors are expected to accelerate over the next year – 38 per cent of LPs expect the value of their new commitments to be higher in the next 12 months than in the
Karus Therapeutics, a company previously supported by The SETsquared partnership, has secured USD7.6m funding as the first tranche of a series B investment.
Karus Therapeutics develops medicines for the treatment of cancer and inflammatory diseases such as arthritis. It will use the funding to advance its proprietary PI3-Kinase p110- delta/beta and HDAC6 inhibitor programmes through early clinical trials.
Karus was spun out of the University of Southampton in 2005. It was based at the SETsquared Southampton Business Incubator for three years before graduating on to the University of Southampton Science Park.
Whilst at the Incubator, Karus went through SETsquared’s investor
HIG Europe has closed its acquisition of the Specialty Alumina business of listed global mining firm Rio Tinto Group.
With effect from 1 August 2012, the new group will be renamed ALTEO.
With turnover of nearly EUR300m, ALTEO is a global integrated producer and supplier of specialty non-metallurgical grade alumina. In recent years, ALTEO has faced a number of challenges and undergone significant transformations, particularly in terms of development of high value added products.
HIG intends to use its resources to reinforce and accelerate, with the management team, the planned development of the business.
“The acquisition by HIG fits perfectly
Resilience Capital Partners, a Cleveland-based private equity firm, has acquired R&D Enterprises, an original equipment manufacturer of highly-engineered heat exchange and cooling products serving the off-road, marine, on-highway and industrial end markets.
R&D Enterprises is Resilience Capital Partners’ first add-on acquisition by its Thermal Solutions Manufacturing investment platform, which it acquired in February 2012. Thermal Solutions Manufacturing is an aftermarket manufacturer of heavy duty and light truck heat exchange products serving the off-road, on-highway and industrial end markets through its 25 distribution locations in North and Central America.
Richard Cox, the former owner and president of R&D Enterprises, says: "It
European private capital group Metric Capital Partners (MCP) has completed its investment in Kedleston UK, a UK-based provider of care, education and support services for children with emotional, behavioural and learning disabilities.
Headquartered in London, Kedleston currently operates nine schools throughout the UK and has a broad offering, providing care and education services for children aged seven to 18. The company was established in 2007 and has developed through acquisitions and expansion of existing sites and currently offers a wide range of services including day, 38-weeks and 52 weeks placements.
MCP’s investment, largely through a credit instrument with equity participation,
Middle-market private equity firm Wynnchurch Capital’s newly formed portfolio company, Heligear Acquisition Holdings, has acquired substantially all of the operating assets of Northstar Aerospace (NSA) and its subsidiaries through court administered insolvency proceedings in both the US and Canada.
Headquartered in the Chicago suburb of Bedford Park, Illinois, the company is a manufacturer of flight-critical and non-flight-critical parts for military and commercial aircraft applications.
The company will continue to operate under the "Northstar Aerospace" name and employ substantially the entire NSA workforce. Prior to the acquisition, NSA was publicly traded on the Toronto Stock Exchange.
"The message for our customers,
Gimv has taken a stake in GOVECS together with BayBG as co-investor.
GOVECS is a European manufacturer of e-scooters.
The company’s products range from e-scooters with a top speed of 25 km/h to models capable of up to 85 km/h. In 2011 and 2012, GOVECS scooters were named “European E-Scooter of the Year”.
In addition to Gimv and BayBG, existing shareholders (including the KfW bank and family offices) participated in the round of financing by contributing fresh capital, taking the total to around EUR10m. The new capital is earmarked for strengthening GOVECS’s leadership role in the growth market for e-scooters
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