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The Association of Investment Companies (AIC) has welcome the announcement that HM Treasury will postpone the UK’s introduction of new provisions for Venture Capital Trusts. These rules will cap at GBP2 million the amount which can be invested in a small business by schemes such as VCTs, EIS and Seed Enterprise Investment Scheme in any 12 month period.
The decision removes the threat that VCTs making investments in the next few months might automatically lose their tax status if they fall foul of this provision.
Details of the new rules were confirmed last Thursday with the publication of the Finance
Mobile video marketing company Mogreet has raised USD4.1 million in strategic capital, bringing its total funding raised to USD14.1 million. The round is being led by Black Diamond Ventures with participation from a number of other prominent investors, including DFJ Frontier, Ascend Ventures, Bryant Park Ventures and Draper Associates.
The new financing will be invested in launching moShare, the industry’s first mobile sharing service, and expanding Mogreet’s global presence in the mobile marketing and mobile advertising markets.
“We’re excited by this latest round of strategic capital, which will help Mogreet get even closer to the goal of enabling any business
Shoosmiths’ Birmingham corporate team has advised MML Capital Partners on the sale of Virginia-based Cableform Inc to Hubbell Inc.
This is the fourth consecutive deal completed by Shoosmiths on behalf of MML within the last ten months, having simultaneously advised on the sale of Rotary Precision Instruments to German manufacturer, Huber Diffraktionstechnik GmbH & Co. KG.
Shoosmiths advised on the sales of subsidiaries ZEAG and Zodion in 2011, bringing present total deal value to around £35m.
The latest deal involved the disposal of Cableform – a manufacturer of large DC motor controls for mining, steel, and transportation industry customers worldwide
Marc Ingla (pictured), a seasoned Internet business angel and the former Vice Chairman of FC Barcelona, has joined Mangrove Capital Partners as a partner to bolster the investment firm’s growth strategy.
At Barça, Ingla was notably managing all sponsorship, media and football affairs and played a key role in making the club the rich and successful brand it is today.
Ingla is also a well-respected investor and advisor to start-ups in both the Internet and the Mobile industries. In the last 10 years, he has acted as a business angel and has worked with several venture capital firms, getting
Les Laboratoires Nutrition & Cardiometabolisme have successfully completed their second funding round totaling EUR3.5 million. This round was led by Seventure Partners accompanied by a group of investors from South-Western France (IRDI, GSO Capital, Aqui-Invest) and LNC’s historical shareholder EPI.
LNC designs and develops Medical Nutrition products, tailored to meet the specific needs of patients suffering from metabolic diseases (diabetes, cardiovascular disease).
"Coming from the pharmaceutical industry, LNC managers are convinced that patients with these chronic condition benefit from a comprehensive health care offering. This offer comprises the assembly of drugs, disease-specific nutrition products and services. What are the objectives
Maples Fund Services, an independent global fund services provider and a division of MaplesFS, has expanded its European operations with the hire of Steve Lewis, Director of European Business Development.
Based in London, Lewis is responsible for expanding the fund administration and middle-office businesses across the firm’s European offices.
Lewis will work closely with Scott Somerville (pictured), CEO of MaplesFS, and Toni Pinkerton, Global Head of Fund Services, as well as the Regional Heads of Fund Services for Dublin and Luxembourg to execute the firm’s business development and growth strategy.
“We continue to see managers attracted to Dublin, Luxembourg and
High Street Capital has partnered with the TLC Companies’ CEO Tim Coughlin and other members of the management team plus Cohesive Capital Partners, to fund the TLC’s growth plan and provide liquidity for its owners.
High Street Capital will be working closely with the management team to acquire additional clients, expand TLC’s service offering and grow the company through a combination of organic initiatives and add-on acquisitions.
TLC, headquartered in Brooklyn Center, Minnesota, is the nation’s largest provider of outsourced human resource services for the transportation industry. TLC’s service offering includes payroll processing benefits administration, workers compensation and unemployment claims
John Altorelli, Alexander Fraser, Patrick Costello and Gerald Francese have joined DLA Piper’s Corporate and Finance practice as partners in New York.
The group, which joins DLA Piper from Dewey & LeBoeuf, focuses its practice on corporate transactions, including finance, private equity and mergers and acquisitions, representing public and private companies, funds and institutions in a wide range of sectors around the world. Altorelli will also serve as co-chair of the firm’s US Finance practice and as a member of the Executive Committee.
“It’s my pleasure to welcome John and his team to the firm,” says Roger Meltzer, global
Diamonds are emerging as a robust alternative investment asset class, says Fusion Alternatives…
Last week the world’s third-largest mining company, Rio Tinto announced it was considering selling its diamond assets. This comes on the back of a similar announcement made last November by the world’s largest mining company, BHP Billiton. These two announcements essentially place a quarter of the world’s diamond supply on the block for sale.
The intention to sell its diamond assets by these two mining conglomerates is more driven by their attempt to streamline their assets by investing in large long-life mine assets as opposed to
Maven Capital Partners has provided a GBP3m funding package in support of the MBO of Cat Tech International from US environmental services business Clean Harbors Inc.
Operating from offices in UK, Bulgaria, Sweden, China, Singapore and Thailand, Cat Tech is a leading provider of industrial services to oil refineries and petrochemical plants across several major international markets.
The company specialises in servicing equipment containing chemical reaction catalysts and introducing processes to improve catalyst handling operations where the ability to maintain operational efficiency is critical and there is an increasing focus on health and safety issues.
Operating in a sector with
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