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Perusa Partners, the private equity firm investing principally in lower mid-market special situations in Germany and German-speaking countries, has held the first and final closing of Perusa Partners Fund 2 on EUR207 million.
The success and fast-pace of the Perusa Partners Fund 2 fundraising is attributable to significant support from existing investors, combined with overwhelming interest of new investors, which led to oversubscription. Allocation to new investors was limited to select high quality, long-term institutional investors. Investors in the Fund included pension funds and insurance companies from Australia, the Netherlands, Nordic countries and the US. The target and hard cap
Advent International, the global private equity firm and the François-Charles Oberthur Fiduciaire Group, have completed the acquisition of the Card Systems and Identity divisions of Oberthur, following workers’ council consultation and the approval of the transaction by relevant market authorities.
Advent International, along with the company’s management, now controls 90% of Oberthur Technologies’ capital. Jean-Pierre Savare, founder of the Oberthur group and his family retain a 10% stake in the capital. The transaction is valued at EUR1.15 billion.
Oberthur Technologies is specialised in digital security based on smart card technology. It is the world’s second largest provider of security
Schroders warned of a bleak economic outlook for the UK in 2012 at its annual crystal ball breakfast meeting hosted by Alan Brown, Group CIO and Azad Zangana, European Economist in London this week.
The overriding opinion of Schroders is that the UK will be in recession next year as the continuing deterioration of the eurozone takes grip. If the wheels fall off the eurozone it will present a “very serious risk” in Brown’s opinion, who stated: “We’re at the early stages of a credit crisis, yields are coming under pressure as money migrates to Germany. Right now the outlook
Brynwood Partners VI’s newly-formed portfolio company, Sun Country Foods, Inc, has acquired the Kretschmer wheat germ brand and manufacturing facility from The Quaker Oats Company. Sun Country Foods purchased the rights to the Kretschmer brand in the US, Canada and Puerto Rico.
Additionally, Sun Country Foods acquired the Sun Country trademark. Terms and conditions of the transaction, which closed yesterday, were not disclosed.
Sun Country Foods will be headquartered in Boston, Massachusetts with its manufacturing facility to continue to be located in Manhattan, Kansas. The company intends to retain existing employees to support plant productions.
Kretschmer, an iconic brand that
Home to the world’s fastest-growing working-age population and a massive untapped consumer market, Africa’s solid fundamentals promise outstanding investment opportunities to pioneering private equity investors, says Stephen Murphy (pictured), managing director, Citadel Capital…
A decade ago, only one African nation held opportunities for private investors, according to a recent study by the International Finance Corporation. Today, the IFC believes the continent of more than 1 billion consumers — home to some of the world’s fastest-growing economies including Ghana, Ethiopia and Tanzania — holds at least 21 countries with opportunities for private equity investors seeking superior returns, a top private equity
Forbion Capital Partners’ investee company, CircuLite has raised USD30 million for its oversubscribed Series D financing round. The round was led by new investor, MacAndrews & Forbes Holdings Inc., and Forbion Capital Partners, a founding VC of CircuLite and the largest investor in the Company.
Proceeds from the Series D financing will support the anticipated European commercial launch of the Synergy® circulatory support system for patients with Class IIIb and early Class IV heart failure, pending the receipt of CE Mark approval anticipated in the first half of 2012. The Series D funding will also support the US clinical development
arGEN-X, a biopharmaceutical company focused on the discovery and development of human monoclonal antibodies from its proprietary SIMPLE Antibody platform, has closed a EUR27.5 million (USD37 million) Series B fundraising round, which was oversubscribed.
The fundraising was co-led by OrbiMed Advisors (USA) and Seventure Partners (France), with the existing shareholders Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB also participating. OrbiMed’s founding partner, Dr Mike Sheffery, will join the arGEN-X Supervisory Board.
arGEN-X is developing a highly innovative pipeline of human antibody products from its proprietary SIMPLE Antibody platform. The
StepStone Group is to acquire the funds management business of Parish Capital Advisors, LLP (Parish Capital), a private equity investment manager with USD2 billion in assets under management. The acquisition is expected to close in January, 2012 and is subject to customary closing conditions. Terms of the transaction were not disclosed.
Parish Capital, founded in 2003, focuses on investments in "ESN" managers, or experienced fund managers of small private equity funds with niche-focused investment strategies. It offers institutional investors access to an attractive, but difficult to analyse segment of the private equity market. It is led by Managing Partners David
Lloyds Bank Corporate Markets Acquisition Finance, a provider of leveraged debt to support private equity-backed transactions, has promoted former Head of European Origination, Ian Brown, to lead the division.
Having joined Lloyds Bank Corporate Markets Acquisition Finance as a Managing Director in 2006 following 13 years at UBS, Brown established a market leading private equity related debt underwriting business, increasing the bank’s support to the larger private equity funds operating across Western Europe.
The team has undergone significant growth in recent years and has been instrumental in structuring some of the most successful sponsor-backed financings in Europe, including BC
ABS Group of Companies, Inc has entered into an agreement to acquire Safetec Nordic AS (Safetec), a provider of integrated risk and asset management services. The programs and services of Safetec will strengthen and expand those of ABS Consulting (a subsidiary of ABS Group).
ABS believes that combining the talent and resources of these two entities will result in a consulting organisation that can deliver clients more timely and innovative solutions for today’s operational and business challenges.
Safetec’s focus has been serving customers in the offshore, marine and land-based industries from their key operating centres in Norway, the UK and
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