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Despite the return of serious macroeconomic concerns in the second half of the year, private equity fundraising in the European mid-market saw a big rise in 2011, according to the latest research from Acanthus Advisers.
The firm’s’ European Mid-Market Fundraising Review 2012 shows that private equity fundraising in the mid-market reached EUR14.9bn in 2011 – an increase of around 40% on the previous year, when just EUR10.5bn. This was further boosted by performance at the larger end of the market, where EUR18bn was raised – up from just EUR1bn in 2010 and EUR9bn in 2009. The top performing regions were
Blackstar has entered into a conditional agreement for the sale of 72,989,078 ordinary shares in Litha Healthcare Group Limited to Paladin Labs Inc. The Disposal, for a cash consideration of GBP16.6 million, represents 50% of Blackstar’s interest in Litha and equates to ZAR2.75 per Litha share.
On completion, the Disposal proceeds will represent a 4.58 times return on investment in South African Rand and 5.36 times return in Pounds Sterling, which equates to a 32% IRR and 36% IRR, respectively, over the five year holding period. The Disposal proceeds will be applied against the Investec Bank Limited debt facility that
High Road Capital Partners’ portfolio company Advanced Sleep Medicine Services, Inc has completed the acquisition of Pacific Sleep Medicine Services, a provider of sleep disorder diagnostic services with laboratory facilities throughout Southern California. The acquisition closed on 17 February, 2012.
Pacific Sleep will become part of Advanced Sleep’s existing network of California-based sleep disorder diagnostic facilities.Advanced Sleep was acquired by High Road in May 2010.
“The addition of Pacific Sleep’s facilities is part of our overall strategy to expand Advanced Sleep’s presence throughout California both organically and through acquisitions,” says Bill Connell (pictured), the High Road Partner who led
Ceptaris Therapeutics, Inc, a privately held specialty pharmaceutical company, has secured USD15 million in venture debt financing from Silicon Valley Bank and Oxford Finance.
The New Drug Application (NDA) for Ceptaris’ drug candidate, mechlorethamine gel, is currently undergoing review by the US Food and Drug Administration (FDA) for the treatment of early stage (stages I-IIA) mycosis fungoides, a type of Cutaneous T-Cell Lymphoma (CTCL).
Ceptaris received USD7.5 million at closing and has access to the remaining USD7.5 million if the NDA is approved by the FDA. The funding will be used for ongoing operational expenses and preparation for commercialization of
A record number of private equity add-on deals were completed in 2011 and the upward turn in transactions of this type is continuing into 2012, according to date released by Preqin.
While the number of deals of other types plummeted, the number of add-on deals completed during the downturn remained relatively consistent and has since more than doubled.
In January 2012, add-ons accounted for 35% of all completed deals, an increase from 2008/2009 when around a quarter of deals were of this type. Add-ons are generally small and mid-sized deals, so it is perhaps unsurprising that there has been a
Advent International and GS Capital Partners VI Fund, LP and certain of its affiliates have signed a definitive merger agreement to acquire TransUnion from its current stockholders, including Madison Dearborn Partners and the Pritzker family business interests.
The transaction, which is expected to close late first quarter or early second quarter of 2012, values TransUnion at over USD3 billion. TransUnion President and Chief Executive Officer Bobby Mehta and the rest of the company’s leadership team will remain with TransUnion.
“Since we spun TransUnion out of the Marmon Group we have extended the global footprint into more than a dozen countries
Following a surge in demand for non-bank finance and an estimated GBP25 billion of debt funding and refinancing needed for UK SME businesses between 2012 and 2016, Palio Capital Partners (Palio) is carving a new niche in the UK market by providing senior debt and mezzanine loans to businesses with an enterprise value of between GBP10-GBP100 million.
Following long established success in the US where the debt financing market is valued at around USD100 billion, Palio is pioneering the model in the UK lower mid-market, where a significant credit supply gap has been created by the banks’ failure to lend
Private equity General Partners (GPs) feel pressured to invest more of their own capital in their firm’s next fund but the vast majority are unable or unwilling to increasing their personal stake, according to new research from Investec Fund Finance (Investec).
Over eight in ten (81%) GPs questioned believe that there is an expectation amongst Limited Partners (‘LPs’) they should be investing more into the next fund1. However, over a third (35%) of GPs say that the main factor preventing them from committing additional capital to their firm’s next fund is that they cannot access sufficient finance. This is ahead
JTC Group has played an instrumental role in setting up the very first Private Placement Fund (PPF) out of Jersey. Introduced only late last month, the Private Placement Fund (PPF) is a competitive new product from Jersey that has been designed to make it quicker and easier to establish close-ended funds, including property and private equity funds. It can be offered to less than 50 people, all of which must be professional or sophisticated investors.
The first PPF will be set up for a long standing client of JTC Group looking to create a fund that will manage mixed real
Private equity expert William Lehr has joined PSMJ’s M&A consulting team. Lehr joins PSMJ with more than a decade of private investment experience, including serving as a Vice President with Blue Point Capital Partners where he was closely involved with Blue Point’s investment in 600-person Callison Architecture.
"We are thrilled to have Bill on the team. Around the United States and around the world, we have taken great care in building the most respected and sought-after brand when it comes to the business of architecture and engineering," says PSMJ President and CEO Frank Stasiowski, FAIA. "Our merger and acquisition practice
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