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Lyceum Capital has closed its 14th deal this year with the acquisition of Kent-based commercial drainage specialist Drain Control by its portfolio company UKDN. The deal is the second major transaction in as many months for UKDN which has so far invested over GBP15 million in its market consolidation strategy.
Already the UK’s biggest independent provider of specialist drain maintenance and repair services, the deal further strengthens UKDN’s existing foothold in the commercial market and re-enforces its presence in the South East.
Established 20 years ago, Drain Control provides a full portfolio of drainage and plumbing services to a
DiGiCo Europe Limited (“DiGiCo”) has announced a GBP50 million management buyout funded by ISIS Equity Partners (ISIS). The deal allows Matrix Private Equity Partners (Matrix) to substantially realise its investment in DiGiCo in which it invested in 2007.
Since that transaction, the business invested heavily in R&D, creating the highly acclaimed SD series of consoles, and Turnover has grown from GBP8 million in 2007 to GBP22 million in 2011.
The sale to ISIS returns over £20m to Matrix in cash and loan stock in addition to a continuing equity holding of 11%. This return equates to a 4.4x multiple of
After the turbulence, trauma and topsy-turvy markets that investors have endured in 2011, it is no wonder that we are all tiredly gazing towards 2012 with some trepidation, says Thomas Beckett, CIO of PSigma Investment Management…
Events over the last few weeks have once again encapsulated the perilous and punishing world that we now live in; question marks have once again appeared over both the future of the Eurozone and the sustainability of the economic recovery the world has enjoyed since the depths of the Great Recession that ended in 2009. Despite the cracks that have appeared in the global
Caledonia Investments has invested GBP24 million in cash to acquire a 20% preferred equity interest in B&W Group Limited (“Bowers & Wilkins” or the “Company”), a well-established and rapidly growing British company which designs, manufactures and distributes high-end audio equipment. Bowers & Wilkins has been led by Joe Atkins, its Chairman, since 1996.
The investment in Bowers & Wilkins represents a good fit with Caledonia’s strategic aims in the unquoted sector. The Company is managed by an experienced and stable team, has a strong balance sheet and benefits from a global operational footprint and exposure to expanding markets where its
Private equity investors (LPs) see major challenges for the industry in the next few years, according to Coller Capital’s latest Global Private Equity Barometer – but despite these worries they think 2012 will be a good vintage year and they expect strong medium-term returns from their private equity portfolios.
Fallout from the bubble years is very visible to private equity investors. Half of LPs believe they have ‘zombie’ funds in their portfolios – that is, situations in which private equity managers (GPs) with no prospect of earning carried interest are motivated to keep funds going for their management fees. Neither
International law firm Eversheds has advised Isis Equity Partners and management on the sale and secondary buy out of Wiggle, the online cycling and tri-sports retailer, to Bridgepoint Capital for GBP180m.
Wiggle was founded in 1999 initially to sell cycling accessories but by 2003 had expanded its offer to include running and swimming goods. ISIS invested in the business in 2006, and has supported and helped to build it. Today it’s the UK’s leading online retailer for enthusiastic road cyclists and triathletes, and truly global in its offering. It has over 1 million shopper visits a week to its online
Global fund administrator HedgeServ has successfully completed an independent SOC 1 examination of its middle office, back office, and fund administration controls. The SOC 1 examination certification was completed by a Big Four audit firm, in compliance with SSAE 16 (formerly SAS 70 Type II) and ISAE 3402 Type II.
The HedgeServ SOC 1 covers the period from 1 October, 2010 to 30 September, 2011 and covers an extensive scope of relevant controls for operational, accounting, and technology processes that auditors can rely on.
"HedgeServ is committed to its leadership in the advancement of fund administration and best practices related to
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The horrifying thing about MF Global is you can bring in someone with huge experience like John Corzine, who has seen what’s gone on in the past three years, and yet he goes in and completely fails to prevent what has become the biggest blow-up since Lehman’s – indeed, it has been suggested that he instigated the disastrous trade, says Dermot Butler (pictured), chairman, Custom House Global Fund Services…
He’s due to appear before a congressional House committee today – 8 December – and in a prepared testimony he plans on saying “I simply do not know
An affiliate of Sun European Partners, the European adviser to Sun Capital Partners, Inc, has reached an agreement to acquire shares in German retail chain Strauss Innovation (Strauss) from The EQT Opportunity Fund. The Geringhoff family will also sell its stake. The value of the transaction has not been disclosed.
Strauss is a private-label retail chain with approximately 100 stores in Germany and around 1,100 employees. The business has strong customer loyalty and is well known for its innovative assortment concept, combining interior decor with women’s and men’s apparel.
EQT Opportunity acquired Strauss in 2008 and has since executed
The Mezzanine team at AXA Private Equity has arranged and subscribed the financing for the acquisition of Unither Pharmaceuticals by Equistone Partners Europe. Unither is being acquired by Equistone, alongside historical shareholders ING Parcom Private Equity, CM-CIC Investment and Picardie Investment.
Unither Pharmaceuticals was originally purchased in 1993 from a Sanofi’s factory employing 17 people in Amiens, France. It is now a global manufacturer of unidose packaging for European pharmaceutical laboratories, and generic products, particularly eyewashes, saline solutions and anti-asthma drugs in sterile single-dose units and stick-packs.
With four industrial sites and an R&D centre, Unither generated revenues of
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