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European private equity firm Cinven has completed its acquisition of Mercury Pharma, the international speciality pharmaceutical company, for an enterprise value of GBP465m.
The acquisition was supported by debt financing provided by four banks: Jefferies, HSBC, Lloyds Bank and Mizuho.
Cinven’s healthcare team identified niche and branded pharmaceuticals as an attractive market segment given the fragmented nature of the industry and underlying stability of demand for pharmaceuticals.
Cinven says Mercury provides an attractive opportunity to pursue a “buy and build” strategy and it has already identified a number of compelling acquisition opportunities.
The debt financing consists of GBP235m
AXA Private Equity has acquired a stake in Place des Leads, a French company specialising in individual data collection.
This investment gives the company the necessary resources to continue the development of its business by financing its growth.
Founded in 2010, Place des Leads collects commercial contacts. Based on the fact that 50 per cent of the leads do not result in sales, the company differentiates itself via its own technology which enables it to monetise these unsold leads. Place des Leads collects information from its partners (including credit or price comparison websites and financial institutions), qualifies the data
Private equity firm Warburg Pincus has made a minority investment in prepaid product, services and transaction technologies company InComm.
Terms of the transactions have not been disclosed.
InComm was established in 1992 to provide technology to the prepaid long-distance industry. The company now provides stored value, gift and prepaid products, services and technologies.
Brooks Smith, chief executive officer and founder of InComm, says: "I am excited to partner with a top tier private equity firm such as Warburg Pincus. A key part of our strategy will be to expand internationally and we were attracted to their track record and depth
Pinnacle Medical Solutions has received a substantial equity investment in a financing round led by Meritus Ventures.
The financing comprised several smaller institutional investors and several individual investors, including one of the company’s founders. The transaction closed on 29 June 2012.
Pinnacle distributes insulin pumps and blood glucose monitoring supplies in Mississippi, Alabama, Tennessee, Arkansas, Louisiana, and Georgia. The investment capital will be used to add key management team members, to expand the company’s sales force, to diversify the company’s product offering, and to establish relationships with an expanded array of managed care companies.
Frank Brumfield, co-founder, chairman, and sole
Alternative asset manager The Carlyle Group and DuPont have signed a definitive agreement whereby Carlyle will purchase DuPont Performance Coatings (DPC) for USD4.9bn in cash.
The transaction is expected to close in the first quarter 2013, subject to customary closing conditions and regulatory approvals.
DPC is a global supplier of vehicle and industrial coating systems with 2012 expected sales of more than USD4bn and more than 11,000 employees. The investment will be funded with equity from Carlyle Partners V and Carlyle Europe Partners III.
“DuPont Performance Coatings is a leader in the automotive and industrial coatings sectors with world-class products
CIBC has reached an agreement to acquire Griffis & Small, a Houston-based energy advisory firm specialising in acquisitions and divestitures in the exploration and production sector.
Terms have not been disclosed.
The transaction, expected to close in the fourth quarter, supports CIBC’s strategy of targeted growth in businesses and geographies where it has strong existing client relationships and capabilities. The acquisition will also create opportunities to serve new and existing wholesale banking clients in the US, and complements its energy-focused teams in Calgary, the UK and Asia.
It will provide Griffis & Small’s clients with access to the same team
On-demand digital interviewing platform provider HireVue has secured USD22m in funding including a USD17m series C equity round, led by Investor Growth Capital, and an expansion of the company’s debt facility.
Granite Ventures, who led HireVue’s previous round, Peterson Ventures, who led HireVue’s A-round, new investors Rose Park Advisors, and the law firm of Wilson, Sonsini, Goodrich and Rosati also supported this round.
Fuelled by the emergence of social and mobile recruiting, many companies now receive more than 100 applicants for a given position, and 68 per cent of employers report that more than half of those candidates are not
Against a backdrop of declining global deal volumes and valuations in the first half of 2012, a recent resurgence in technology and Asian M&A valuations is giving global shareholders and dealmakers hope, according to research from valuation firm American Appraisal.
American Appraisal’s first Global M&A Valuation Outlook provides analysis into global M&A valuation trends based on more than 25,000 valuation data points from transactions across 28 countries.
According to the research, median EBITDA multiples for M&A valuations in the Asia Pacific region increased by 63 per cent during 2011 to 9.8x (compared to 6.0x in 2010), dipping only in
The Luxembourg Finance Ministry has submitted a draft bill transposing the European Alternative Investment Fund Managers Directive to the Luxembourg Parliament.
“ALFI strongly believes that the AIFMD presents a welcome opportunity for Europe to create a brand in the alternative investment market, similar to the global brand it has created with Ucits,” says Camille Thommes (pictured), director general of the Association of the Luxembourg Fund Industry (ALFI). “Through AIFMD, the European Union is creating the first regulated environment for alternative investment funds worldwide.”
He adds: “ALFI believes that the Luxembourg Government’s ambition to be a first-mover in transposing the
Fox Paine, a private equity investment and advisory boutique, has completed the sale of Paradigm to Apax Partners and JMI Equity in a USD1bn cash merger transaction.
Paradigm is a provider of geoscience software solutions that optimise the exploration, discovery, and extraction of natural gas, oil, and other subsurface resources.
Saul Fox, Fox Paine’s chief executive, says: "Paradigm’s extraordinary growth over the course of our 10 year association is a result of the company’s unremitting commitment to geoscience and computational research and development, rapidly deploying the results of its prodigious research and development programs to create novel and continuously improve
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