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Foreign companies acquired majority stakes in 131 Indian companies during 2011, registering a 30% rise in such transactions as compared to the previous year, according to a study by Venture Intelligence, a research service focused on Private Equity and M&A transaction activity in India.
Of these Inbounds deals, there were 65 deals with an announced value of USD9.99 billion. In comparison, 2010 had witnessed a total of 101 inbound deals, of which, there were 50 transactions with announced values totaling almost USD8.4 billion.
The largest inbound M&A deal by value announced during 2011 was Vodafone’s March 2011 buyout of the
Rutland Partners, the specialist turnaround and restructuring investor, is selling Attends Healthcare Group to Domtar Corporation for an enterprise value of EUR180 million. The transaction is conditional only on customary regulatory clearances and is expected to complete in late February.
Rutland acquired Attends, a European leader in branded and own label incontinence products, from 3i in July 2007 for EUR93.5 million and has invested over EUR25 million in support of management’s plan to restructure operations and develop the product portfolio. Products are manufactured in Aneby, Sweden and supplied across Northern and Western Europe through a mix of reimbursement, retail and contract channels.
The
Carey Olsen and Heritage International Fund Managers Limited (HIFM) have acted for Better Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock Exchange (LSE), on its conversion into a protected cell company (PCC) with the interests of the existing listed fund forming the 2009 cell, and the launch of its second cell, the 2012 cell.
The 2012 cell has raised GBP169.9m of new money to invest in Better Capital’s second fund, Better Capital Fund II (“Fund II”). The new money was raised under a placing and an open offer to existing shareholders. Like the 2009 cell, the
SEA Medical Systems, a healthtech company focused on safety and management of IV medicine, has closed a USD3 million Series B investment with Chicago-based venture capital firm JK&B Capital, which specialises in investments in Information Technologies, healthcare and communication markets.
As part of the agreement, Chairman of JK&B Capital David Kronfeld, and Quantum Technology Partners’ Barry Dickman joined SEA Medical’s board of directors. Proceeds from this investment will allow SEA Medical to accelerate development of its IV products and expand its technology into additional medical applications.
"Thousands of people are killed or seriously injured in US hospitals each year when
By Peter Niven – Guernsey has an investment fund industry with a heritage that stretches back half a century. During the past two decades, the sector has seen a gradual yet sustained shift where the balance of business has moved from being largely retail, equity-traded/cash-based schemes to predominantly institutional, alternate and niche funds.
The period included significant growth, particularly of esoteric asset classes through the middle of the last decade. This experience means that Guernsey has built a wealth of expertise and first class infrastructure for the structuring, management, administration and custody of not just traditional funds but also alternatives,
Renaissance Asset Managers (RAM) has acquired the investment management mandate for two further Emerging European funds within Griffin Umbrella Fund plc with assets totalling USD116m. This development follows the acquisition of the Griffin Eastern European Fund with assets of USD252m, one of the oldest and best established funds in the emerging markets universe, announced in December 2011. Following this final transaction, total RAM assets under management will rise from USD2.4bn to USD2.8bn.
RAM is taking on takes on the management of the Griffin Ottoman Fund, a UCITS IV equities strategy with a focus on Turkey and broad Eastern European and
SquareTrade, the independent consumer warranty provider, has secured a USD238 million growth equity investment led by affiliates of Bain Capital. Other financial terms of the private transaction have not been disclosed.
“We are very excited to partner with SquareTrade, which is disrupting a USD20+ billion global industry with its innovative approach to warranties.” says Mike Krupka, a Managing Director of Bain Capital Ventures.
“We were attracted by the incredibly high satisfaction levels among consumers and retailers, along with the vision of co-founders Steve Abernethy and Ahmed Khaishgi, and their ability to execute the plan to build the first great brand
Channel Islands law firm Carey Olsen has advised Colfax UK Holdings Limited on its acquisition of Charter International plc through a Jersey scheme of arrangement. This deal is believed to be the largest transaction of its kind in Jersey with an estimated value of USD2.426 billion in cash and stock (approximately GBP1.528 billion) which is based on the closing price of GBP23.04 per Colfax share on 9 September, 2011.
Colfax UK Holdings Limited is a subsidiary of Colfax Corporation, a US-based international industrial group listed on the New York Stock Exchange.
A Carey Olsen cross practice team was instructed by,
Matrix Private Equity Partners (Matrix) has launched a new GBP21 million linked fundraising across three VCTs it manages. The offer has similar attractions to the first Matrix linked offer last year, which proved to be popular with investors and raised, in aggregate, GBP16.2 million.
Mark Wignall, CEO believes that Matrix is well placed to benefit from improved investing conditions; making this offer an interesting and lower risk proposition for VCT investors: “The VCTs have a target annual dividend of 4 pence which is tax-free. From time to time, investment realisations can produce much higher dividends and our Income & Growth
Kleinberg, Kaplan, Wolff & Cohen, P.C. today announced that Kelly E Zelezen and Euchung Ung have been named members of Kleinberg, Kaplan, Wolff & Cohen firm, effective 1 January, 2012.
“Kelly and Euchung are tremendous assets to our firm and our clients,” says Andy Chonoles, Kleinberg Kaplan’s managing partner. “Their dedication to the practice of law and to delivering exceptional results reflects the firm’s commitment to cultivating our attorneys’ talents to provide the highest-quality service to our clients.”
Kelly Zelezen joined the firm in 2006 and concentrates her practice on the asset management industry, where she advises managers of hedge
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