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Encore Capital has completed an investment into Technical Software Consultants Limited (TSC), a designer and manufacturer of non-destructive testing equipment. The transaction was supported by Octopus Investments (Octopus), which provided a GBP3m facility to enable the acquisition.
Encore has acquired a majority shareholding, providing a partial exit for TSC’s two owners, David Topp and Martin Lugg, who will continue as directors and shareholders in the business.
TSC uses its proprietary electromagnetic ACFM technique to detect and size cracks in metals. Established in 1984, TSC is highly profitable, selling its equipment globally via an international network spanning over 40 countries.
The renewable energy space is expected to see a high level of M&A activity in the next 12 months despite changes to government incentive schemes in Europe and regulatory uncertainty in the United States, according to the third edition of M&A in Renewable Energy – Global Outlook 2012.
The report, published by Rödl & Partner in association with mergermarket, draws from interviews with 100 renewable energy M&A professionals from the corporate, private equity and investment banking communities to examine the challenges, opportunities and underlying deal drivers in the sector.
The wind and photovoltaic (PV) subsectors are expected to experience
Switzerland’s Council of States has essentially adhered to the amendments to the CISA proposed by the Committee on Economic Affairs and Taxation (WAK), a move that has been welcomed by The Swiss Funds Association (SFA).
At a meeting this week, the Council of States dealt with the partial revision of the CISA as the first chamber. The Council of States’ Committee on Economic Affairs and Taxation had put forward various amendments to the Federal Council’s proposed text, and these have now been mostly approved.
“We welcome the amendments that have been passed, and are pleased to note that the Council
iCON Infrastructure, the independent investment firm focused on investments in core infrastructure in Europe and North America, has appointed Iain Macleod as a partner, with effect from July 2012.
Macleod joins the iCON team that has led private institutional investment in European infrastructure since the early 2000s and has been responsible for over EUR2.5 billion of institutional investment in mature infrastructure assets over the past decade.
Macleod has two decades of corporate finance and infrastructure experience. He joins from Deutsche Bank where he spent over 11 years in roles including Head of Transportation and Infrastructure for EMEA and Head of M&A
Balance Water Inc has closed on a Series A financing round from Emil Capital Partners, Thomas H Lee and Hugh Jackman.
Balance is a non-flavoured functional beverage bottled locally in California, New York, Sydney, Australia and next month in Cologne, Germany. Its point of difference is the use of wild harvested Australian flowers that it infuses into its five main products, Mind, Relax, Refresh, Digest and Travel. Similar in function and benefit to certain herbal teas, though without any flavour, the Balance range is expanding out of specialised natural products channels into mainstream retail.
"We’ve worked hard over several years
The high degree of correlation between the NAVs of Listed Private Equity (LPE), as measured by the LPX50 NAV Index of the 50 largest and most liquid LPE stocks globally, and traditional private equity limited partnerships, as measured by Preqin’s Private Equity Quarterly Index (PrEQIn), demonstrates that the fundamental performance of the two types of investment is essentially the same.
This means that LPE can provide investors with access and exposure to similar assets with a similar risk-return profile to traditional limited partnership private equity.
There are several implications for investors. Smaller investors that are unable to invest in traditional
Carey Olsen is extending its legal service offering to include the jurisdictions of the Cayman Islands and the British Virgin Islands (BVI).
Carey Olsen will offer Cayman Islands advice through an experienced team which will include Cayman Islands partners Jason Allison, Nick Bullmore and Jarrod Farley. A formal launch of the Cayman Islands office, including the announcement of new purpose-built premises, will take place in September 2012.
Carey Olsen is also now offering a BVI capability led by Guernsey-based partner Andrew Boyce. Prior to moving to Guernsey, Andrew practised in the BVI and is dual qualified in Guernsey and BVI
Norwest Equity Partners (NEP) has acquired Pentech Holdings, Inc (Pentec) from DW Healthcare Partners, Frazier Healthcare and Pentec management.
Pentec is a national provider of specialty infusion services to patients who require access to complex pharmaceutical products and services outside of the hospital setting.
Pentec Chairman and CEO, Joe Cosgrove, says: “I am extraordinarily pleased to embark on a new phase of Pentec’s growth strategy with such an outstanding partner as NEP. We are fortunate to have forged a relationship with an organisation that shares our commitment to patient-centric healthcare as well as our vision for continued pursuit of excellence and
With interest rates persisting at their lowest levels in 30 years, the 14% increase in corporate deposits in South Africa over the last year, is adding significant pressure to returns on equity for many local companies already sitting on huge cash piles, says Sean Segar, Head of Product: Cash Solutions at Nedgroup Investments…
The Reserve Bank recently reported non-financial corporate deposits to be ZAR534 billion, compared to the ZAR469 billion at the same time twelve months ago. While it is understandable that many corporates are adopting an overly conservative balance sheet in the face of market uncertainty, there are opportunities
Hipmunk has closed a USD15 million Series B financing round led by Institutional Venture Partners (IVP). Todd Chaffee (pictured), General Partner at IVP, will join Hipmunk’s board of directors. Existing angel investors and the Series A lead, Ignition Partners, also participated in the round.
"IVP has a highly successful 31 year track record of investing in innovative technology and travel companies,” says Adam Goldstein, CEO and co-founder of Hipmunk. "We’re very excited to work with IVP, and Todd in particular. He brings tremendous experience, relationships and strategic sense to our crazy, competitive industry.”
Todd had led venture capital investments in well
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