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Gresham Private Equity has successfully signed a deal to sell its investment in Olaer to Parker Hannifin, a manufacturer of motion and control technologies and systems.
The deal is subject to regulatory approval. The performance of the Olaer Group since acquisition in 2005 will result in an exceptional return on investment for Gresham.
With origins as an 18th century UK engineering business, Olaer is one of the world’s leaders in the provision of fluid management solutions. Olaer manufactures, markets and distributes a range of accumulators, oil coolers and filters that represent high quality and superior technology. Present on 5 continents,
Orthofix International is selling its Sports Medicine Business Unit, which operates as Breg, Inc, to Water Street Healthcare Partners for USD157.5 million.
The deal is expected to close during Q2 2012.
Net proceeds to Orthofix from the sale are anticipated to be approximately USD140 million, which will be used for the prepayment of debt as required by Orthofix’s existing credit agreement.
The Company acquired its Sports Medicine business in 2003 with the purchase of Breg, which is headquartered in Carlsbad, CA. The Sports Medicine business provides a portfolio of bracing and cold therapy products to treat a variety of sports
DC Advisory Partners has appointed Terry Huffine as an Executive Director in its European Consumer, Leisure & Retail team.
Huffine will focus specifically on the Food & Beverage subsector, an area in which he has specialised for the last seven years.
Huffine joins DC after eight years with ABN AMRO, latterly acquired by the Royal Bank of Scotland, where he was a Director on the Consumer team. During that time he worked on numerous high profile transactions, including the USD980m sale of circa 50% of Aujan to The Coca-Cola Company and SABMilller’s GBP732m acquisition of minorities in Poland’s leading
MaplesFS, an independent global fund services and fiduciary services provider, has expanded its presence and regional commitment in the Middle East with three senior hires in its Dubai office.
Fred Tabbal joins as Regional Head of Fund Services, Andrew Millar joins as Senior Vice President of Fiduciary Services, and Charlotte Windsor as Vice President of Fund Services.
In their new roles, Tabbal and Millar oversee strategic direction for their respective line of business in the region, business development, and will be responsible for managing the entire Middle East team and operations. Windsor has operational responsibility for the fund accounting and
GreySpark Partners, the capital markets consultancy with offices in London and Hong Kong, has appointed Jon Batty as managing consultant, with responsibility for running the Trading Architecture, Infrastructure and Support practice. He will report to Bradley Wood, partner.
Batty joins GreySpark after over seven years at Macquarie Securities Group (MSG) in Hong Kong, working in various senior roles. His most recent position was Division Director, Head of IT for MSG Asia within the Information Technology Group, where he managed a team across Hong Kong, Tokyo, Singapore, Manila and India. In this role, he was responsible for the reorganisation and
Atlante Private Equity, a private equity fund managed by IMI Fondi Chiusi SGR, has acquired an interest in Svas Biosana, a company based in Somma Vesuviana (Naples) that has been operating for over 40 years in the medical devices and infusion solutions sector.
Atlante has invested EUR6 million to acquire a minority interest in the company.
“We are delighted to welcome the Atlante Private Equity Fund as one of our shareholders,” says Umberto Perillo, managing director of the Svas Biosana Group. “In such an unsettled economic environment, tackling the challenges posed by the market with the daily support of a
The Securities and Exchange Commission has charged the former CEO of the California Public Employees’ Retirement System (CalPERS) and his close personal friend with scheming to defraud an investment firm into paying USD20 million in fees to the friend’s placement agent firms.
The SEC alleges that former CalPERS CEO Federico R Buenrostro and his friend Alfred JR Villalobos fabricated documents given to New York-based private equity firm Apollo Global Management. Those documents gave Apollo the false impression that CalPERS had reviewed and signed placement agent fee disclosure letters in accordance with its established procedures. In fact, Buenrostro and Villalobos intentionally
Voyage Care (Voyage), the UK specialist care provider for people with learning disabilities, brain injuries and other complex needs, has acquired Solor Care.
Solor Care was previously owned by Barclays Ventures, Royal Bank of Scotland and Management. The acquisition makes Voyage the UK’s clear leader in the provision of learning disability services with 363 care homes and 2,369 beds.
The transaction is being funded with existing cash and a further injection of equity from Voyage’s majority shareholders, HgCapital and SL Capital Partners.
Like Voyage, Solor Care provides high quality personalised support and care for people with complex needs.
Health Safety and Engineering Consultants (HSEC), the engineering risk management consultancy, has undergone a GBP2.7m management buy-out backed by venture capitalist EV.
Debt facilities were provided by The Co-operative Bank and included funding to support the company’s future growth.
EV has secured a substantial minority stake in the business, which is based in Ashby-de-la-Zouch and provides health and safety and risk management advice to clients across the UK. Under its RHMA brand it provides forensic investigation and expert witness services dealing with personal injury, commercial liability and health and safety regulatory work to an increasing number of law and
Irish law firm Dillon Eustace has opened an office in the Cayman Islands. The new office makes Dillon Eustace first European Union legal firm to establish a fully-serviced practice on the islands.
The office opening reflects the firm’s view that while the impact of the introduction of the Alternative Investment Fund Managers Directive may restrict access to European markets – there remains a huge volume of business focussed outside Europe on which the Directive will have little or no impact. This will ensure that the Caymans will continue to be a major domicile of choice.
Mark Thorne, Managing Partner
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