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Hogan Lovells has advised Ares Capital, Lloyds TSB, RBS and Santander on the acquisition by Duke Street Capital of a majority stake in Parabis, thought to be the first ever leveraged buy-out of a law firm in the UK. The deal was announced on Monday 6 February.
Parabis is a leader in claims handling which specialises in managing long term outsourced and co-sourced contracts on behalf of major organisations. Parabis also owns Plexus law, a specialist insurance defendant entity.
The Hogan Lovells team advising the banks was led by London banking partner Stuart Brinkworth, assisted by Of Counsel Jo Robinson,
Bregal Investments is forming Bregal Partners, LP, a middle-market private equity fund with USD500 million of committed capital. The fund’s investment efforts will be led by Robert Bergmann and Scott Perekslis, who will serve as Managing Partners.
The fund, based in New York, will focus on control-oriented investments in North America in the following industries: consumer; food and beverage; healthcare; and, energy services. Bergmann and Perekslis are middle-market private equity veterans, having previously worked together at Centre Partners Management LLC for more than 20 years, most recently serving as Senior Partners.
Louis Brenninkmeijer, co-Chairman of Bregal Investments, says: "We are
Fiona Le Poidevin (pictured), Deputy Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry – explores why conditions are right to consider re-domiciling or co-domiciling funds in Guernsey.
The global financial crisis initially came to a head in 2008, yet more than three years later and the wave of repercussions continues, particularly in the Eurozone but also through the ongoing worldwide economic downturn.
Guernsey has proved extremely resilient but as a leading international finance centre, the Island cannot be completely immune from these worldwide issues. However, the key indicators are suggesting that Guernsey, led by
Despite the intense economic headwinds in the second half of the year, global middle market investment bank Robert W Baird believes 2012 will be a strong year for M&A.
Baird, which posted a record year of results in 2011, with investment banking revenues up 50% and employee numbers rising 17% – has predicted increased M&A activity for 2012, thanks to an uptick in economic indicators and significant improvement in the credit markets.
Conditions are good for an increase in strategic acquisitions in 2012. M&A can be an effective tool for lifting the top line and generating margin improvement through
By Petrina Smyth and Noeleen Ruddy (pictured) – As a leading jurisdiction for the establishment of investment funds and structured finance vehicles, Ireland has seen commodity funds established for many years using regulated Qualifying Investor Funds, ranging from funds investing in precious metals to agricultural crop funds.
Prior to the Finance Act 2011, Irish unregulated fund and structured finance vehicles (SPVs) were only permitted to hold financial assets, and therefore were not an option for commodity funds that were to hold physical assets, as opposed to gaining exposure to the underlying assets through a derivative. The act extended the list
High Road Capital Partners has sold Milwaukee Gear Company for USD80 million, marking the first exit for the firm’s debut fund, High Road Capital Partners Fund I, LP.
The sale generated a 2.6x gross cash-on-cash return and a 31.6% gross IRR for High Road. The firm’s July 2008 investment in Milwaukee Gear was also its first acquisition.
Milwaukee, Wisconsin-based Milwaukee Gear manufactures custom precision gears and drives used in a variety of industrial applications. The company was acquired by Regal Beloit Corporation (NYSE: RBC).
“In the three and a half years High Road owned the company, we grew
DC Advisory Partners has appointed Andrew Strudwick as an Executive Director in its European Financial Sponsors Group. Strudwick will join Simon Tilley’s team, which provides a focal point for DC’s interaction with the private equity community. He will be based in London.
Strudwick’s last role was at 3i Group PLC (“3i”) where he had worked as an Investment Director since 2006. Andrew co-founded 3i’s UK TMT team and took a lead role on key transactions such as the GBP350m take-private of Civica plc, engaging on all aspects of the investment cycle. Outside of TMT, Andrew has worked on high-profile transactions
The Green Building Group, an HIG Europe portfolio company headquartered in Graz, Austria, has acquired a majority stake in Lumar IG d.o.o. (Lumar), the leading Slovenian manufacturer of prefabricated houses.
As part of the transaction, Lumar’s founding owners, the Lukic family, have taken a stake in Green Building Group. Lumar will continue to manufacture from its highly efficient site in Maribor and will maintain its well-known brand under the umbrella of Green Building Group.
The Green Building Group was founded in August 2011 with the acquisitions of the Hanlo Group and HAG. The acquisition of Lumar represents a key
Mid Europa Partners has entered into a binding agreement with its partner France Telecom-Orange, for the sale of their combined 100% stake in Orange Austria to Hutchison 3G Austria (Hutchison), a subsidiary of Hutchison Whampoa Limited.
Mid Europa currently holds a 65% stake in Orange Austria and France Telecom-Orange a 35% stake. The agreement implies an enterprise value of approximately EUR1.3 billion for Orange Austria.
As part of the overall transaction, Hutchison will sell frequencies, base station sites, the mobile phone operator Yesss! Telekommunikation GmbH (Yesss!), as well as certain intellectual property rights to Telekom Austria Group immediately after the
The Blackstone Group has reported Economic Net Income (ENI) of USD1.389 billion for the full year 2011, slightly lower than USD1.418 billion ENI for the full year 2010.
The decline in ENI compared to the full year 2010 was driven principally by a slowing in the rate of increase in the carrying value of assets as of 31 December, 2011 across Blackstone’s investment segments, offset by an increase of USD246.5 million, or 15%, in Total Management and Advisory Fees to USD1.878 billion for the full year 2011.
ENI was USD449.9 million for the three months ended December 31, 2011, a
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