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A holding company owned by the Permira funds is to acquire Intelligrated (www.intelligrated.com), a North American-based provider of automated material handling solutions, services and products, in a transaction at a valuation in excess of USD500 million.
Intelligrated’s management, led by founders Chris Cole and Jim McCarthy, will maintain a significant stake in the company as part of the transaction and will continue to lead the company.
Intelligrated designs, manufactures and installs complete material handling automation solutions for the warehousing, distribution, consumer product manufacturing, postal and parcel markets. Solutions include conveyor systems, sortation systems, palletisers and robotics, order fulfilment systems, warehouse
Conyers Dill & Pearman has hired a litigation lawyer in the Cayman Islands and five corporate lawyers across its Mauritius, Moscow, British Virgin Islands and Hong Kong offices, as the firm continues to strengthen its global practices.
Ben Hobden joins Conyers’ Cayman Islands litigation team, while the firm has hired Ashvan Luckraz in Mauritius, Alexandra Karaganova in Moscow, Patrick Ormond in the British Virgin Islands, and Felicity Lee and Anna Barreira in Hong Kong.
Our global corporate and litigation teams enjoy an excellent reputation among clients and across the market, which will be well complemented with these lawyers, whose talent
The many tortuous “what if” articles on the eurozone‟s financial problems address the risks of collapse and contagion together with the inchoate political responses. Inevitably they conclude catastrophic consequences. There is no gain in further exaggerating this fairy tale, which is repeated to frighten voters into submission, says Jonathan Compton, managing director, Bedlam Asset Management…
The authors have risible track records on anticipating sovereign crises, despite the fact that from 2008 it was easy to foresee a series of defaults. The data was widely available; the ground work had been widely published for years (such as papers by Professors Reinhart
The General Assembly of the European Private Equity and Venture Capital Association (EVCA) has elected Vincenzo Morelli (pictured), Partner Emeritus and Senior Advisor to global investment firm TPG, as its Chairman for the year to June 2013.
Morelli has a long track record in management, particularly in helping struggling businesses to return to profitability. As Operating Partner at TPG Capital Europe from 2005 until 2012, Morelli managed corporate governance and operational change across TPG’s European portfolio companies. Morelli continues to chair two of TPG’s portfolio companies. For the past three years since its inception, Morelli has been Chairman of the
Despite the largest reforms to the primary care trust since its inception, and the significant readjustments expected in the ailing care homes sector, healthcare investments still returned 7.2% in 2011 according to the IPD UK Annual Healthcare Property Index.
The NHS and its subsidiaries remain highly reliant on private investment for new building initiatives and the management of care homes. However, healthcare returns have now trailed those of the commercial property sector for the second consecutive year, as uncertainty around the sector has led to caution amongst valuers.
Despite being an ‘essential service’, government cuts and reforms, and issues
An affiliate of Cerberus Capital Management has completed the sale of Guilford Mills, a global leader in automotive and specialty fabrics, to Lear Corporation, a leading global supplier of automotive seating and electrical power management systems, for a total purchase price of USD257 million.
The transaction closed on May 31, 2012. An affiliate of Cerberus acquired Guilford Mills in 2004.
"Guilford Mills’ successful transformation into a leading automotive and specialty fabrics manufacturer demonstrates the powerful combination of capital resources and operational expertise coupled with a strong management team and empowered workforce," said Chan Galbato, CEO of Cerberus Operations and Advisory
Angelo, Gordon & Co’s Private Equity Group has sold Dealer Services Corporation (DSC), America’s largest independent inventory financing provider of used vehicles sold by dealers, to Manheim, Inc, a division of Cox Enterprises.
DSC was founded in 2005 by Chairman John Fuller in partnership with Angelo, Gordon’s Private Equity Group (“AGPE”) and Noro-Moseley Partners. AGPE saw an opportunity to back an industry-leading management team, including CEO Brian Geitner and President Marty McFarland, in an attractive space with few scaled independent players. The company today originates over USD3 billion in loans annually and works with nearly 10,000 dealers to finance the
Maven Capital Partners has sold its investment in Transys Projects Limited (Transys) to the German engineering concern Vossloh Kiepe, the rail transportation division of MDAX listed Vossloh AG.
Transys is engaged in the provision of turnkey and engineering consulting solutions relating to the maintenance and enhancement of rail rolling stock. Maven client funds supported the original management buyout of the company in April 2002, since when it has significantly increased both its range of products and the depth of its engineering expertise. Over the same period the company has invested in the development of key relationships with the owners and
Almost two-thirds of insurance companies are planning to make new private equity investments before the end of 2012, the latest Preqin research reveals.
The results of the most recent Preqin Special Report show that despite the impending Solvency II regulatory changes, the vast majority (79%) of insurance companies have not altered their levels of exposure to private equity. Fund managers will also be buoyed by the news that nearly one-third (30%) of insurance companies are currently below their target allocations to the asset class, and 88% plan on maintaining or increasing their allocation to private equity over the longer term.
Vets First Choice has closed a USD4 million financing led by new investor Polaris Venture Partners. Also participating were several existing investors including Borealis Ventures, Harbor Light Capital, David Shaw and Black Point Group.
Earlier this year Vets First Choice acquired VetCentric.com, creating the market leading veterinary partner-pharmacy provider licensed in 50 states and serving more than 6,000 veterinary practices. The new investment will support the company’s continued growth and expansion in the veterinary services and home delivery space, a market estimated to exceed $5 billion in the United States.
“Vets First Choice is a fantastic value proposition to veterinary
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