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Smedvig Capital, the development capital house, has sold Ocean Outdoor, the leading operator of ‘Digital Out of Home’ advertising sites, to mid-market private equity house, LDC.
Over the last four years, Ocean has grown rapidly, increasing revenue more than 3 fold and become the clear leader in iconic, large format digital and banner advertising locations with its name firmly established within the outdoor market. Last year, it won Silver in the annual Media Week, Media Brand of the Year, coming second only to Google/You Tube.
Smedvig first invested in Ocean in 2008, taking a majority stake through the
Vox Mobile, a leading provider of managed mobility solutions for the enterprise, has completed a USD7.5 million growth round of funding led by Edison Ventures, a New Jersey-based venture capital firm with a focus on expansion-stage, information technology companies.
Edison limited partner, Permal Capital also participated in the financing round. Vox Mobile’s new financing will accelerate expansion to meet the high demand for its enterprise managed mobility services.
"As enterprises face growing complexity and challenges with mobility, the demand for managed mobility services continues to explode. We believe Vox Mobile will continue to capture a large share of this emerging growth market with its industry-leading
Private equity firms’ hands-on approach and focus on partnership is resonating with entrepreneurs and leading to successful exits in Latin American markets, according to a study conducted by the Emerging Markets Private Equity Association (EMPEA) and Ernst & Young LLP.
The study showed private equity buyers in Latin America to be highly entrepreneurial, employing their own networks to find opportunities and in most cases seeking companies where they could partner with existing management to enhance the core business model. Two-thirds (65%) of deals sampled were proprietarily sourced. In three quarters of deals studied, the investment thesis hinged on backing
Schulte Roth & Zabel has expanded its New York office with the addition of a group of leading private equity and real estate attorneys joining the firm from Dewey & LeBoeuf LLP effective 16 May, 2012.
Joseph A Smith and Marshall S Brozost join as partners, Sanford W Morhouse joins as of counsel, and Russel G Perkins, Shawn R McCune and David C Miller join as special counsel. In addition, Jason L Behrens, Geoffrey L Butler, Lauren E Cook, Lauren King and Jennifer M Lew are joining the firm as associates.
“This is the largest group ever to join
Fiona Le Poidevin, the current Deputy Chief Executive of Guernsey Finance, will take over as Chief Executive from Peter Niven with effect from 30 June.
Niven has been with Guernsey Finance since 2006 and will continue to act in a part time consultancy role with the company until the end of 2012.
Making the announcement, Jim Gilligan, the Chairman of Guernsey Finance, reflected on Niven’s time as head of the Island’s promotional body for the finance industry.
“In the six years that Peter has been at the helm, the work of Guernsey Finance has led the way in the marketing
Sonitus Medical, Inc, a medical device company that manufactures the world’s first non-surgical and removable hearing device to transmit sound via the teeth, today announced that it has closed a USD25 million Series D round of venture capital funding. Abingworth, an international investor dedicated to life sciences, led the round and was joined by all current venture capital investors.
"We are pleased to receive a large round with attractive terms in the midst of a challenging funding environment for medical device companies," said Amir Abolfathi, CEO of Sonitus Medical. "We view this financing as validation of both the Ear Nose
The recently published Economist review of the prospects for the Channel Islands, provides a rather gloomy view of the future; a characterisation which few in Jersey or Guernsey would recognise, says Geoff Cooke (pictured), CEO, Jersey Finance…
I was asked by the journalist early in my interview session, what did I think of a well known tax lobbyist. Regrettably my response wasn’t printed, but the now customary accusation of defensiveness followed in the article.
This is something of a lose lose for the Channel Islands as if we allow defamatory and misleading commentary to go unchallenged, we are judged guilty
HgCapital and its portfolio company RidgeWind have reached financial close on the 20.5MW Wandylaw wind project in Northumberland, England. The total debt and equity value of European renewable energy projects financed by HgCapital now exceeds EUR1.5 billion and over 700MW, including more than 50 wind, solar and hydro power plants.
The Wandylaw project was developed by RidgeWind and consists of 10 REpower MM92 wind turbines, and will sell power and renewable obligation certificates to Statkraft under a long‐term contract. Consistent with RidgeWind’s long‐standing commitment to local communities, the Wandylaw project will make contributions in excess of GBP1.25 million to
Alchemy Japan’s Japanese Leisure Hotels reported Q1 2012 revenue growth of 3.7% on previous year to JPY515 million. Net Operating Income of JPY214 million, showed a lower rate of growth of 1.3% growth on Q1 2011 due to increase of Utility unit prices and staffing costs caused by operational changes that were implemented following 2011 fueiho regulation changes.
Q1 2012 revenue growth was led by an increase in customer numbers of 9% reaching an all-time high water mark average occupancy rate of 283%.
“Our hotels produced strong counter-cyclical performance achieving market share increase and a 3.7% sales growth, with
The Resolute Fund II, an affiliate of The Jordan Company, has acquired VT Services, Inc (VT) from Babcock International Group Plc (Babcock), a UK based engineering services firm. Financial terms of the transaction have not been disclosed.
VT is a provider of engineering and logistics services primarily in support of mission critical systems, logistics and operational readiness and platform sustainment initiatives for US Department of Defense customers. VT is a wholly-owned, but independently run, subsidiary of Babcock.
“VT has strong, long term customer relationships and a base of prime contracts with the U.S. Army and Navy.” says Jonathan F Boucher,
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