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Mattel is to acquire HIT Entertainment for USD680 million in cash from a consortium led by Apax Partners funds.
HIT Entertainment owns a global portfolio of popular preschool brands, including Thomas & Friends®, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina. With more than USD180 million of revenues, HIT Entertainment represents one of the largest independent owners of preschool intellectual property. The purchase price equates to a multiple of about 9½ times trailing earnings before interest, tax, depreciation and amortization.
“Mattel is the right home for Thomas & Friends. This powerhouse brand is joining the ranks of such
CDC Group plc (CDC), the UK’s development finance institution (DFI), has announced a new USD50 million investment in the first-ever equity investment fund to focus on the very poorest parts of India.
CDC is an anchor investor in the Pragati Venture and Incubator Fund (‘Pragati’) and has played a significant role in getting the fund started.
As a growth capital fund, Pragati will invest and play an active role in developing companies across multiple sectors including healthcare, ancillary infrastructure services, ancillary oil and gas services, manufacturing and education. These companies will be at a stage where they require professional management
The Securities and Exchange Commission today announced that Andrew J Bowden has been appointed an Associate Director to lead the National Investment Adviser/Investment Company Examination Program in the SEC’s Office of Compliance Inspections and Examinations (OCIE). He starts on 1 November.
Bowden comes to the SEC from Legg Mason, where he held senior executive positions in its legal/compliance and business units. Bowden will oversee a staff of approximately 450 lawyers, accountants, and examiners responsible for the inspections of U.S.-registered investment advisers and investment companies.
“Drew brings extensive experience in the operation and oversight of investment advisers and investment companies and
Aura Capital, a Finnish venture capital firm, has divested its share in Fromdistance, a device management software company, to the American-based Numara Software. Aura Capital invested in Fromdistance in 2008.
Fromdistance, founded in 2004, is a software company specialised in device management and sophisticated mobile applications for business use. Aura Capital invested in the company in 2008, especially due to its technical excellence and customer-driven innovation in a situation where the market was just about to emerge.
“We are happy to see Fromdistance taking a logical step as part of Numara Software. This further substantiates Aura Capital’s successful
Sarona Asset Management, the manager of a number of private equity, impact investing funds, has officially established a presence in Europe and appointed Vivina Berla as a Senior Partner and European Managing Director.
Sarona Asset Management is based in Waterloo-ON, Canada, and is a co-founder and/or manager of a number of impact investment funds, including the Sarona and MicroVest groups of funds. Together, they represent over USD180 million in assets under management in emerging and developing country markets around the world.
With over 15 years’ experience in institutional and alternative asset management acquired at Merrill Lynch and Gartmore Investment Management in
Private equity investment firm ClearLight Partners is to sell 100% of Switchcraft Holdco, Inc to HEICO Corporation. Financial terms of the transaction have not been disclosed.
Founded in 1946, Switchcraft is a premier designer and manufacturer of high-performance electronic connectors, cable assemblies, and other value-added products and systems used in diverse applications in the global electronics industry. Headquartered in Chicago, Illinois, the Company operates state-of-the-art manufacturing facilities in Chicago, Illinois, Villa Park, Illinois, and Inchon, Republic of South Korea.
Jay Shepherd, Partner at ClearLight, says: “Keith Bandolik, Dave Dunmead and the other senior managers at Switchcraft have done an excellent
OMERS Private Equity, the private equity arm of the OMERS Worldwide group of companies, has partnered with existing management to purchase GEDC Super Holdings Inc. (together with its affiliates, "Great Expressions" or the "Company") from affiliates of private equity firm Audax Group.
Founded in 1982 and headquartered in Bloomfield Hills, MI, Great Expressions is a leading dental practice management ("DPM") company, with 152 affiliated dental offices in seven states across the Midwest, South and Northeast. In the past three years, the Company has grown by adding and successfully integrating 79 offices through 10 acquisitions. With over 1,800 clinical and support
Atlantic Street Capital, a private equity firm investing in the lower middle market, has acquired Z Wireless, a retailer of Verizon Wireless voice and data communications services operating throughout the Great Plains.
Headquartered in Sioux Falls, SD, Z Wireless markets and sells a full suite of Verizon Wireless products and services from over 100 stores in nine Midwestern states. It is the largest operator of exclusive Verizon Wireless Premium Retailer stores in that region. In addition to wireless services, the company also sells a comprehensive mix of wireless devices, including smartphones, voice phones, tablets, and a broad range of accessories
dms Management Ltd (DMS), a fund governance firm serving the hedge fund industry, has opened a New York office, dms Management (USA) Inc, at 1230 Avenue of the Americas, 7th Floor, Rockefeller Center.
The New York office is headed by Kathleen Celoria, Executive Director.
"Our New York office aims to fortify our existing relationships with US stakeholders, many of whom are based in New York, and to facilitate our ongoing face-to-face interactions," says Celoria. "It will help make our governance work more accessible and transparent to the funds we serve and their investors."
The New York office will
Munib Ali, director at PwC, on the European Commission’s (EC) release of the Market in Financial Instruments Directive (MiFID) II proposals…
The EC’s release of the MiFID II proposals broadly mirrors the content of the December 2010 consultation paper. Despite the further clarity, firms will remain concerned about the substantial costs the regulation will impose and the detrimental effect on bottom line profitability.
The burdensome transaction and trade reporting requirements will squeeze trading margins, while proposals to move derivatives onto regulated venues and central clearing will make it more difficult for companies to sell bespoke solutions to clients. Enhanced collateral
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