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Mergers and acquisitions in the US financial services industry could increase in both number and value of deals, if markets improve and European banks sell noncore business units, PwC says in a new report.
M&A prospects remain uncertain, however, after deal volume fell in 2011 due to the European debt crisis, volatile stock and bond markets, uncertainty around government regulations and a pullback in financing, according to PwC’s report, "Balancing uncertainty and opportunity: 2012 US Financial Services Insights" (www.pwc.com/us/fsdeals2012).
US banking, insurance, asset management and other financial service companies announced 756 deals last year. The figure represents a 10 per
The PrEQin Distressed Private Equity Index stands at 322.1 as of September 2011 (rebased to 100 as of 31st December 2000), making distressed PE the best performing strategy over that time period.
The PrEQIn Distressed Private Equity Index encompasses the distressed debt, turnaround and special situations fund types, and such funds aim to invest in the equity or debt of companies that are in financial distress or are facing reorganisation. As such, distressed PE is one of the riskier private equity strategies, but can potentially generate higher returns.
The PrEQIn All Private Equity Index (rebased to 100 as of 31st
Maven’s Manchester team has led the MBO of Vodat International Limited (Vodat) from its founder Mike Bielinski in a GBP5m transaction.
Vodat provides managed network and communications solutions to business customers, with a particular focus on the UK retail sector in which it has a leading market presence.
Cheshire based Vodat was established in 2002 by the current CEO and senior management team, and has achieved year on year sales and profit growth, increasing sales by over 50% since 2008. The business has a current customer base covering over 7,000 live sites and places a strong emphasis on ensuring excellent
IFG Group has signed an agreement for the sale of its entire International Division (Segment) to AnaCap Financial Partners II LP.
The purchase price is GBP70 million (EUR84 million) which will be paid in full on the completion of the sale. The purchase price shall be subject to an adjustment upon finalisation of the completion accounts. The sale is subject to certain conditions including shareholder and regulatory consent. The EGM, at which an ordinary resolution approving the sale shall be voted upon by the shareholders, shall be held in advance of the AGM on 27th June 2012. A circular incorporating a
Crédit Agricole Private Equity is changing its name to become Omnes Capital, following its sale by Crédit AGricole to Coller Capital, which completed on 29 March.
This transaction follows the acquisition by Coller Capital from Crédit Agricole SA of a portfolio of assets managed by Crédit Agricole Private Equity which will continue to be managed by Omnes Capital.
Omnes Capital will continue to pursue a strategy of investing in SMEs with strong growth potential, offering active and long-lasting support to entrepreneurs.
Omnes Capital will draw on the expertise of its current teams to develop its key business areas:
Veracity Payment Solutions has secured an USD80m commitment from Boston-based Great Hill Partners, a private equity firm that manages over USD2.5 billion in capital.
While a portion of the committed funds was used to buyout an existing investor, the vast majority will be used to fund Veracity’s US and European acquisition strategy. Great Hill was the sole investor in the all equity transaction, with Veracity’s founders, current management team and GTX Partners retaining a significant ownership position.
Founded in late 2007 by Joe Cohane, Stephanie Sharp and Grant Putre, Veracity provides credit card, debit card and ACH processing solutions primarily
All eyes will be on former UK Chancellor of the Exchequer Norman Lamont (pictured) and Economics Editor and Broadcaster Stephanie Flanders as they debate the future of the financial markets at the Guernsey Funds Forum 2012.
The event, titled ‘Shaken not stirred’, will be held at the Grange St Paul’s Hotel in London on Wednesday 2 May. It will comprise three sessions, culminating in a keynote debate featuring Lord Lamont and Stephanie Flanders where the audience will have the opportunity to cross-examine the pair in a ‘Question Time’ format. The debate and the preceding panel sessions will all be moderated
Bertrand Meunier joins CVC Capital Partners (CVC) as a Managing Partner and member of the PE Board with immediate effect. He will be based in London where he will have global responsibilities including leading the newly formed global consumer goods sector and overseeing the development of the firm in France.
Meunier was Chairman of the Partner Committee and Head of the sector teams at PAI Partners. He joined PAI in 1982 formerly part of BNP Paribas and for 11 years led investments in Information Technology and Telecommunications, before turning to the Consumer Goods, Retail and Services sector which he led
HgCapital, the leading European sector-focused private equity investor, has promoted Kai Romberg to partner. The move recognises Romberg’s strong performance, delivered since he joined HgCapital in 2004 as an Associate.
Romberg has played an important role in many value-creating investments including SiTel, Addison, Visma, CSG, Achilles (which won the Fast Track Private Equity Deal of the Year Award in 2011), Lumesse, TeamSystem and Teufel.
In addition, HgCapital announces the following recent appointments of Associates across the TMT, Healthcare, Industrials, Renewable Energy and Portfolio Management teams:
Hector Guinness – TMT team. Hector comes to us having spent three years working at Bain
Morgan Stanley Global Private Equity has formed a strategic partnership with OSF Merchant Banking to pursue investment opportunities in Brazil. Based in São Paulo, OSF is a fund manager that offers international and local qualified investors customized alternative investment advice.
“Brazil has entered a cycle of abundant opportunity and unprecedented capital flow. Private equity firms are now presented with the challenge of identifying and structuring investments in a very competitive environment that does not typically rely on leverage as a fundamental piece in transaction finance,” says Hans J Apostel, a founding partner of OSF and head of its investment committee.
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