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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,
Vista Equity Partners III, (Vista) has successfully closed Vista Equity Partners Fund IV (VEPF IV) at USD3.5 billion. The initial target of USD2.5 billion was exceeded due to exceptional LP demand. Vista now manages over USD6.6 billion of committed capital in its series of Private Equity Funds.
VEPF IV has already announced the following four acquisitions; Turaz, a divestiture from Thomson Reuters, Vitera, the former Sage Healthcare Division of The Sage Group PLC, CDC Software, a global provider of ERP solutions and Misys, the UK based provider of treasury capital markets and banking solutions.
Robert F Smith, CEO and Chairman
Primary has backed the management buy-out of Leisure Pass Group Ltd (Leisure Pass) in a GBP35 million transaction from its shareholders. The deal represents Primary’s ninth investment from its current Primary III fund.
Leisure Pass, based in London, is the world’s leading provider of smart card-based multi-attraction tourist passes and the associated systems. The passes permit free entry to a large number of selected visitor attractions and are issued with a comprehensive guide book to the destination city. Leisure Pass’ city passes cover three of the largest European tourist cities – London, Paris and Berlin – enabling entry to attractions
Fund services provider Ipes, has achieved AAF 01/06 accreditation in recognition of the quality of its control environment following a six month review by Ernst & Young.
The process involved a comprehensive review of Ipes’ internal controls with a particular focus on their operating effectiveness. Following the review, Ipes achieved two standards – ISAE 3402 and AAF 01/06.
Barry McClay (pictured), Chief Operating Officer, who led the process, says: “Effective and demonstrable internal controls are of growing interest to private equity clients and their investors who are now more aware of operational risk than ever before.
“In selecting an
Private Equity firm Avista Capital Partners is to acquire Top-Co Inc, a privately-held, designer and manufacturer of specialised casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells.
Top-Co serves a diverse global customer base comprised of E&P and national oil companies, multinational service companies and North American and international agents and distributors. Terms of the transaction, which is expected to close in the second quarter of 2012, were not disclosed.
Trevor Turbidy, an Energy Industry Advisor with Avista, says: "We are delighted about our new partnership with Top-Co. With its highly experienced management
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