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Mid-market private equity house Dunedin has sold WFEL, a leader in mobile tactical military bridging, to KMW, a German land defence systems provider. The sale has realised a multiple of 2.4x for Dunedin.
Under Dunedin’s ownership WFEL has seen significant growth in sales, predominantly exports, increasing by nearly 70% to £36.2 million in the year ended December 2011. Employee numbers have increased by around 15% to 228 over this period.
WFEL manufactures high specification, high functionality, complex mobile bridging systems for use in military and disaster relief scenarios. WFEL’s expertise – built on a century of UK engineering excellence and
Duane Morris is adding 16 Dewey & LeBoeuf lawyers to the firm, with extensive experience in areas such as corporate, insurance regulatory, energy, trial, antitrust, mergers and acquisitions, private equity, tax and employee benefits.
The lawyers will join Duane Morris in the New York, Boston, and Washington, DC offices. The combination builds on Duane Morris’ broad national insurance, energy and technology practices, offering clients an expanded array of services.
The new lawyers were led to Duane Morris by Elizabeth W. Powers, who served on her former firm’s Executive Committee, and Alice T Kane, former general counsel at New York Life and
Middle-market private equity firm BV Investment Partners has made an investment in Health Information Designs (HID).
HID is a leading provider of primarily healthcare-related information technology and data analytics services, which help healthcare organisations improve patient health and reduce operating costs. The company also offers insurance identification and verification services focused on reducing the uninsured motorist rate. The investment in HID was made in partnership with the Gibson family, who founded the business in 1979. The company is headquartered in Auburn, Alabama.
HID’s healthcare offering includes drug utilisation review, prescription drug monitoring, prior authorisation and surveillance utilisation review solutions. The company’s
Thomas A Beaudoin has joined Goodwin Procter’s Business Law Department in its Boston office as a member of Goodwin’s Private Investment Funds Practice.
Beaudoin will focus on venture capital funds, private equity funds and institutional investors across the US, Europe and Israel.
"Tom’s outstanding reputation and deep client and industry relationships will help us continue to extend our client services in this important practice area," says Regina M Pisa, Chairman of Goodwin Procter. "Goodwin’s strong venture capital and private equity practices, combined with our internationally recognized fund formation practice, make Tom a natural fit for Goodwin."
"We’re delighted that Tom
NVM Private Equity (NVM) has appointed David Rolfe as Investment Partner for the South of England. He will be responsible for generating investment opportunities and managing NVM’s existing portfolio across the region.
Rolfe joins NVM from his role as PwC Director in Corporate Finance responsible for leading deal activity in the South East. David has 15 years experience with PwC, exclusively in the South, spending the last 12 years in a lead advisory role in Corporate Finance; advising both local private businesses and private equity houses on mid-market M & A transactions. Recent deals include the sale of Wallingford Software,
Private equity deal volume in the first quarter of 2012 exceeded expectations, according to GF Data.
"Most private equity professionals are predicting a flood of deal activity in 2012. The volume of reported deals in the first quarter suggests it’s already starting to happen," says Andrew T Greenberg (pictured), GF Data’s CEO and co-founder. "Over the prior eight years covered in our data universe, completed deal volume dropped an average of about 25 per cent from the fourth quarter of one year to the first quarter of the next. This year’s ten per cent dip decline compares especially favourably with
AMETEK has completed the previously announced acquisition of the parent company of Dunkermotoren GmbH from private equity firm Triton for EUR250 million (USD320 million).
The acquisition of Dunkermotoren, a specialist in advanced motion control solutions for a wide range of industrial automation applications, is expected to be immediately accretive, adding approximately USD0.02 per diluted share to 2012 earnings and approximately USD0.10 per diluted share to earnings in 2013.
"We are excited about the acquisition of such an outstanding company," says Frank S Hermance, AMETEK Chairman and Chief Executive Officer. "Dunkermotoren is a global leader in highly engineered advanced motion control solutions
Fundsmith chief executive Terry Smith on why austerity v growth is a sterile debate…
I have appeared recently on Newsnight (23 minutes in), ITN News and BBC News talking about the debate over austerity v growth. I also appeared on Robert Peston’s BBC2 programme about the Eurozone crisis – The Great Euro Crash.
These appearances were prompted by the Eurozone crisis coming back into focus, and in particular by a period of a week in which the Dutch government fell; elections in Greece failed to produce a government, and in particular failed to produce a consensus which supported the austerity
Gresham, the UK mid market private equity specialist, has invested GBP23 million in the management buy-out of Warrington-based Integrated Engineering Stores Associates (IESA), a specialist in the management of maintenance, repair and operating goods (MRO) expenditure, through integrated supply solutions.
The buy-out plan is to take advantage of the inherent growth in the MRO outsourcing market, consider international opportunities and expand the business into new verticals.
IESA was established in 2001 as an integrated supply business to provide outsourced stores management for manufacturing facilities.
The firm invested heavily in IT, and now uses its software to manage clients’ supply
The Riverside Company has completed the sale of MK Chimney Systems to French buyer Isotip-Joncoux Group. The sale of the Polish producer of chimney systems, liners and related products generated a gross cash-on-cash return of 2.9x.
Based in Zary, Poland, MK manufactures and distributes a wide variety of branded, high-quality flue gas extraction systems made of refined steel to customers throughout Europe. It is a leading player in Poland and holds an established position in Germany and Scandinavia. The company offers a wide variety of chimney systems, including single wall chimneys, double wall chimneys, condensation systems, chimney cowls and
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