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Monroe Capital has provided a USD37.1 million unitranche facility and an equity co-investment to support the acquisition of LAI International by RLJ Equity Partners.
LAI International is a provider of comprehensive precision engineered finished parts, components and subassemblies for aerospace, power generation, defence, medical, electronics and other advanced technology industries. The company’s best-in-class manufacturing solutions are essential to the performance of airframes, aircraft engines, gas turbines, defence systems and other mission-critical applications.
Rufus Rivers, Managing Director of RLJ Equity Partners, says: “Monroe Capital demonstrated their ability to provide flexible capital as our capital structure was modified during the due-diligence process.
Record levels of corporate cash and historically low interest rates may provide the catalysts to fuel a rise in the level of merger and acquisition (M&A) activity this year, according to a survey of 825 executives conducted by KPMG and Knowledge@Wharton, the research and analysis arm of The Wharton School of the University of Pennsylvania.
Executives reported that large corporate cash reserves and commitments (48 per cent of respondents) and low interest rates (44 per cent) should lead to more M&A activity.
"In the US, we’ll likely continue to see M&A activity move sideways, but with a slight upward trend,"
Last year’s ‘Enterprise’ budget paved the way for increased investment in the UK’s smaller unlisted companies. The higher bank lending targets agreed under Project Merlin along with a relaxation of the rules governing VCTs promised greater flexibility for funding.
VCT managers surveyed by the Association of Investment Companies (AIC) have seen a surge in demand for funding from companies over the last year and they are currently seeing good investment opportunities in a range of sectors, from media to healthcare and education.
As a result of this, managers view the outlook for 2012 as largely positive. Patrick Reeve, Managing
The British Virgin Islands Financial Services Commission (FSC) has issued guidance on the form and content of the audited financial statements to be prepared and filed by certain regulated companies.
Private and Professional Funds Private and Professional funds recognised under the Securities and Investment Business Act, 2010 (SIBA) are generally required to appoint an auditor and to file their audited financial statements with the Commission not more than six months after the end of each financial year.
According to law firm Harneys, concern has been expressed by the industry regarding certain provisions in the Mutual Funds Regulations, 2010 (“Regulations”) regarding
BerchWood Partners, an independent global placement agent, has appointed Paola Tarazi as Principal in their London office where she will lead the expansion of the firm’s efforts across the EMEA region including fund selection, project management and fund distribution.
Tarzai has 16 years of professional experience in private equity fund investments, management consulting, and investment marketing/distribution experience gained in Europe and the Middle East. She joined BerchWood from BNP Paribas where she was recently focusing on originating and distributing a variety of private equity fund offerings to European Institutional Investors. Previously, Tarazi was a co-founding member of Fortis Investments’ Private
Cinven and GS Capital Partners (GSCP) have entered into a definite agreement to sell Ahlsell, a distributor of construction products in the Nordic region, to CVC Capital Partners for an enterprise value of SEK15.5 billion (EUR1.8 billion).
Prior to the January 2006 acquisition, Cinven and GSCP had identified Ahlsell as an excellent platform for growth and continued consolidation of the Nordic construction supplies market with leading customer service and competitively priced products.
During the course of our ownership, the Company’s management team, with the expertise and support of Cinven and GSCP, has executed on these strategic goals through:
the acquisition
Melinda Rishkofski (pictured), who has represented private equity fund managers, international financial institutions and portfolio companies in Russia, Eastern Europe, the UK and the US, has joined Baker Botts as a partner in the firm’s Moscow office.
Rishkofski’s experience includes working with Russian and Eastern European privatisation policies, policy advice and drafting laws for the new Russian economy, development of Russian corporate securities and regulatory structures. She also worked on regulatory and legislative matters with representatives for the US and Russian governments.
"Melinda adds depth to our international transactional resources," says Baker Botts Managing Partner Walt Smith. "Her focus on
Silverfleet Capital, in conjunction with mergermarket, has published the findings of its 2011 Buy & Build Monitor, which show a significant slowdown in Buy & Build activity. While overall 2011 saw Buy & Build activity increase both in volume and value terms, the number of add-on transactions decreased considerably during the second half of the year slumping to levels last seen at the end of 2009.
2011 saw the highest number of add-ons undertaken by private equity-backed portfolio companies since 2008, at 364 (versus 335 in 2010). However, despite a strong start to the year, with 210 add-ons undertaken in
Ochre House, the recruitment process outsourcing and talent management business backed by NBGI Private Equity (NBGIPE), has acquired the two strategic resourcing firms in the Middle East and North Africa, TAAHEED and Carmichael Fisher.
The acquisition will significantly expand Ochre House’s international capabilities in response to increasing client demand.
“We are already one of the fastest growing talent management businesses in Europe and Asia and have an established partnership with one of the US’s leading players, Pinstripe,” says Chris Herrmanssen, CEO. “Acquiring the Dubai-based TAAHEED and its sister company, Carmichael Fisher, provides us with a key piece of the jigsaw
HIG Europe (HIG), the European arm of global private equity firm HIG Capital, and FNZ Holdings Ltd (FNZ), a provider of Software as a Service (SaaS) solutions to the financial services sector, have entered into an agreement with growth equity firm General Atlantic whereby General Atlantic will acquire a minority stake in FNZ alongside HIG and the management team. Terms of the transaction have not been disclosed.
HIG backed an MBO of FNZ in early 2009 and the Company has since experienced rapid organic growth supporting its existing blue-chip clients such as Standard Life and Axa as well as new
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