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Affiliates of GS Capital Partners have closed a previously announced equity investment in Plastipak Holdings, a supplier of plastic packaging solutions to the world’s largest consumer product companies.
The investment will position Plastipak to further capitalise on substantial growth opportunities across its global business platform.
Plastipak has been owned and run by the Young family since 1967. The Young family will continue to hold a majority stake.
GS Capital Partners was advised by Goldman, Sachs & Co.
Maples and Calder has appointed four new associates to the firm’s growing funds team in its Cayman Islands office and a new partner to the British Virgin Islands office.
Tim Clipstone, Greg Barwick, Philip Dickinson, Patrick Head and Lucy Nicklas are each specialists in their respective fields.
"It is with great pleasure that we add these new lawyers to our firm, as we anticipate that their collective expertise will serve to add more strength in depth to our client offering," says Jon Fowler (pictured), global head of the funds group at Maples and Calder. "Maples and Calder is renowned
KMCO has been acquired by Owner Resource Group (ORG), an Austin, Texas based private equity firm.
Westlake Securities advised ORG throughout the deal process. Terms of the transaction were not disclosed.
Crosby-based KMCO, founded in 1975, is a chemical processing and manufacturing company serving the automotive, petroleum, industrial and agricultural markets. It includes KMTEX and DOT Chemical.
KMCO operates two facilities: a manufacturing plant on 200 acres in Crosby, which includes eight distillation columns, 23 reactor systems and room for 250 rail cars; and a second facility in Port Arthur on 32 acres with 20 million gallons of storage space
Fulcrum Equity Partners has funded the USD5m series B growth equity round for Nashville, Tennesee based Medical Direct Club (MDC).
Founded in 2009 by chief executive Brad Gulmi, MDC is a direct-to-consumer provider of urological supplies, primarily single use, disposable catheters.
Prior to starting MDC, Gulmi was the founder and chief executive of Diabetes Care Club (DCC), which sold to Simplex in 2007.
MDC employs a similar consumer advertising model as DCC and plans to use the series B equity to fuel customer acquisition.
"We are excited to partner with Fulcrum to accelerate the growth of the company as we
Alternative asset manager The Carlyle Group and the management of The TCW Group, an asset management firm, are to acquire TCW from Société Générale.
As a result of the transaction, TCW management and employees will increase their ownership in the firm to approximately 40 per cent on a fully diluted basis.
Financial terms of the transaction, which is expected to close in the first quarter of 2013, were not disclosed.
Equity for the investment will come from two Carlyle investment funds, as well as from TCW management. The funds are Carlyle Global Financial Services Partners, a USD1.1bn
The Employee Stock Option (ESO) Fund has officially closed its debut fund which will deploy up to USD25m to provide funding for current and departing employees of venture-backed companies to exercise their stock options.
Departing employees of venture-backed companies are often faced with the dilemma of either exercising their stock options immediately or letting the options expire worthless.
The ESO Fund reduces the risk of exercising options by lending money through non-recourse loans that have no payments on principal or interest until a liquidity event is reached. The ESO Fund provides these individuals a simple mechanism to claim their equity
Aurora Resurgence, an affiliate of Los Angeles-based private equity firm Aurora Capital Group, has sold New Star Metals and its Premier Resource Group and Electric Coatings Technologies subsidiaries to an affiliate of Insight Equity Holdings.
In conjunction with this transaction, Aurora Resurgence also sold the US Metals and Supply division of New Star to Custom Steel Processing based in Illinois, and retained its ownership of Miami Valley Steel Service.
Under Aurora Resurgence’s ownership, Ohio-based Miami Valley will continue to provide processing and distribution of sheet steel products to an array of end markets.
"The Miami Valley team is excited to
Venture capital activity in the Middle East and North Africa increased by 28 per cent in 2011, according to the Second Annual Venture Capital in MENA Report released by the MENA Private Equity Association.
While the region’s VC industry is still in the early phases of development, the rise in activity reflects increased optimism for small business growth amongst entrepreneurs, investors and governments, despite macro-level challenges that persist in some countries.
From 2009 to 2011, 120 VC transactions were completed compared to just 62 from 2006 to 2008. In 2011, 46 deals were completed, up from 36 in 2010.
Morocco
Former Pfizer chairman and chief executive Jeff Kindler has joined venture capital firm Lux Capital as a venture partner.
Kindler (pictured) will help identify new healthcare investment opportunities and work with Lux portfolio companies.
He joins other recent venture partner additions Jim Woolsey (former CIA director) and Richard Foster (former McKinsey senior partner).
"With tremendous leadership experience in the healthcare industry, Jeff has an appreciation for the intersection of novel science, product development and commercial transactions," says Robert Paull, managing partner at Lux Capital. "As Lux continues to make new investments at the cutting edge of healthcare and as our
Add-on activity in Europe has remained at the subdued levels seen in quarter one 2012 and below even the weak second half of 2011, according to Buy & Build Monitor for Q2 2012 published by Silverfleet Capital in conjunction with mergermarket.
The volume of buy and build activity in Europe in Q2 2012 remained broadly flat at the level seen in Q1 2012, with 63 add-ons completed in both quarters, and this level was the lowest of any quarter since the nadir in mid-2009.
However, the average disclosed value of add-ons rose to GBP45m, up 72 per cent from a
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