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MCG Capital has closed its investment in IDOC consisting of senior debt and equity.
IDOC, a portfolio company of The Riverside Company, is comprised of an alliance of independent optometrists throughout the US, including practices representing more than 1,400 optometrist members.
The IDOC investment is MCG’s first with The Riverside Company, a private equity firm focused on acquiring growing businesses valued at up to USD200m (EUR200m in Europe).
Albion Ventures has invested GBP1.3m in partnership with Welsh based developer Dragon Hydro to fund the development of a single 300kW hydropower scheme on the Afon Cadair river in the county of Gwynedd in Wales.
The site in Wales will benefit from the Feed-in-Tariff regime and is expecting to generate its first electricity in Q3 2013. The installation is forecast to generate an average 1,300MWh of electricity per year, enough to power up to 300 households.
This investment is Albion’s seventh investment into renewable energy and continues Albion’s strategy of expanding into this sector. Dragon Hydro will provide funds managed
The founders of OverstockAds.com, a portal of discounted advertising inventory, have formed Savveo, a new venture designed to transform the way local advertising is bought and sold.
An evolution of the OverstockAds.com experience, the Savveo website, when open to the public later this year, will serve as an online marketplace to bring efficiencies to the USD445bn local advertising market.
“Local advertising is one of the most effective ways for businesses to reach their prospective customers, but the way it’s done today is wildly inefficient and frustrating,” says Shafi Mustafa (pictured), chief executive of Savveo and founder of OverstockAds.com. “There are
Arma Partners acted as the exclusive financial adviser to alternative asset manager The Carlyle Group on the sale of UC4 Software to EQT for an enterprise value of EUR220m.
UC4 is the world’s largest independent IT process automation software company. Founded in 1985, UC4 employs over 300 staff and serves more than 2,000 customers across 71 countries, automating tens of millions of mission-critical IT operations a day.
UC4 generated revenues of approximately EUR62m in the fiscal year ended 30 April 2012 and is headquartered in Wolfsgraben (close to Vienna), Austria, and Bellevue, WA, US.
Carlyle’s European Technology fund acquired UC4
The global economy can’t afford to wait any longer for euro zone (in)decisions. European stagnation is increasingly worrying US officials as well as those in the emerging markets. Given that Europe remains the major trading partner for both China and the United States, the economic slowdown of our economies has serious consequences for global growth prospects, says Laurent Deltour (pictured), Chairman, Sycomore Asset Management…
Many economists, including GaveKal Dragonomics’ chief economist Andrew Batson, are predicting that Chinese economic growth may be lower than 5% in the future. At the same time, emerging market growth should be significantly superior to growth
Riverstone has invested in Three Rivers Natural Resource Holdings II, a new private upstream oil and gas company based in Austin, Texas.
With this support, Three Rivers II executed a definitive agreement to acquire certain assets located in the Permian Basin of West Texas from Meritage Energy Company. These properties include 15,000 net acres with current production of approximately 1,900 barrels of oil equivalent per day located in Howard, Glasscock, Martin, Dawson and Upton Counties, Texas.
Three Rivers II will focus on oil and gas acquisition opportunities in the Permian Basin. Most recently, the management team led Three Rivers I,
The secondary market, where investors historically went to trade their illiquid holdings in hedge funds, private equity and other alternative investments, is increasingly a source of liquidity in normal times and not just an escape hatch for investors in duress, according to a recent survey of more than 489 institutional investors managing gross assets of USD417bn.
The survey indicates that, while USD65bn worth of secondary stakes are now traded annually, this market is expected to grow 125 per cent within the next year, to USD146bn.
Even with that increase, that trading would only represent about two per cent of
Private equity investor HgCapital has sold its operating UK onshore wind portfolio to Munich Re, represented by its asset management arm MEAG, for an undisclosed sum.
The portfolio consists of three operating wind farms with a combined capacity of 102MW. The portfolio was held by HgCapital Renewable Power Partners, HgCapital’s first dedicated renewable energy investment fund raised in 2006 and includes a 50% interest in the 65MW Scout Moor wind farm, one of the largest in the UK. Peel Energy also sold its 50% interest in the Scout Moor wind farm to Munich Re.
Commenting on the sale Tom Murley,
Los Angeles-based private equity firm Aurora Capital Group has acquired Market Track, a provider of promotional intelligence solutions in North America, from Monitor Clipper Partners, a Boston-based PE firm (MCP).
Key leadership, including CEO Wayne Mincey and President Paul Salay, will remain in their respective roles. Terms of the transaction were not disclosed.
Market Track is the leading provider of subscription-based, data driven promotional intelligence solutions that enable retailers, manufacturers and brokers to analyze their promotional and pricing initiatives to make more informed decisions. Market Track currently serves over 450 top retailers and manufacturers across all classes of trade and
WL Ross & Co has agreed to purchase 4.4 million common shares of Navigator Holdings owned by Lehman Brothers Inc (LBI) for USD110 million.
James W Giddens, Trustee for the Securities Investor Protection Act liquidation of LBI, has submitted a motion to the United States Bankruptcy Court of the Southern District of New York for approval of the Purchase Agreement, subject to conditions.
WL Ross had previously acquired 3.5 million Navigator shares. If approved by the Court, the new agreement will bring its total stake in Navigator to over 50%. As part of the transaction, WL Ross agreed with Navigator
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