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Fireman Capital Partners, a consumer-focused buyout and growth equity firm, has named Alison Kennedy as Director of Investor Relations.
Kennedy has an extensive and proven track record in institutional business development, marketing, client service and portfolio management. She most recently served as Vice President, Investor Relations and Business Development at Adveq Management, a leading independent global private equity investment management firm, where she was responsible for spearheading institutional client acquisition as well as originating fundraising for its in-house private equity fund of funds.
"We are delighted to welcome Alison to Fireman Capital, and believe her deep background in portfolio management,
AssuredPartners, Inc, a portfolio company of leading Chicago-based private equity firm GTCR, has closed its second investment with the acquisition of SKCG Group, a White Plains, New York-based insurance agency.
With revenues of approximately USD18 million, SKCG is one of the largest privately-held risk management and insurance advisory firms in the US. Since 1996, SKCG has been cited each year as a Top Performer nationwide by the Independent Insurance Agents of America Best Practices Study, evidencing the firm’s strong reputation in the industry. The acquisition provides AssuredPartners with a strategic asset and penetration into the greater New York metropolitan area.
Global digital security software company, Clearswift, has been acquired by mid-market growth investor Lyceum Capital, in a deal that will see increased focus on Clearswift’s content-aware security products.
Clearswift provides market-leading security software products to companies that view the security of their IP and communications as a strategic priority. Clearswift’s integrated products manage inbound threats, data loss prevention, web access policies and compliance across both web and email communications. Headquartered in Theale, near Reading, with satellite operations in Germany, Spain, Japan, the US, Australia and Holland, the business employs around 170 people with almost two thirds based in the UK.
The Association of Investment Companies (AIC) has welcomed the announcement that the UK Chancellor George Osborne will allow VCTs to invest greater amounts in smaller businesses. Currently the VCT scheme rule limits any one VCT to investing no more than GBP1 million in a single company in any 12 month period.
This rule has created significant administrative burdens for VCTs, preventing individual VCTs from providing all the funds a small company might require, even where the amount required is well within the overall limits set by the scheme. This means that a company seeking, for example, £5 million of investment
Electra Private Equity has agreed to sell its interest in Capital Safety Group (CSG) to KKR. The total value of the deal is approximately USD1.1 billion. CSG is one of the world’s leading manufacturers of fall protection, confined space and rescue equipment.
Completion, which is expected in January 2012, is conditional and subject to regulatory clearances, amongst other things.
Subject to completion, Electra is expected to receive proceeds in the region of GBP54 million based on today’s exchange rates. This would represent an uplift of GBP28 million or 104% on the valuation of CSG, inclusive of accrued income, at 31
Boston-based private equity firm Riverside Partners has entered into an agreement to acquire a majority equity interest in ITC Global (ITC), an international provider of satellite communications services to mining, energy and maritime businesses operating in remote or harsh environments.
As part of the transaction, Riverside Partners will also provide the Company with significant capital to support ITC’s future growth initiatives. ITC is headquartered in St Petersburg, Florida. The investment is expected to close following customary regulatory approvals.
ITC Global provides enterprise grade satellite communications services on a global basis. ITC’s customers enjoy custom-designed, innovative solutions, including regional and/or global
IMG Partners LTD (IMG) has selected IntraLinks’ cloud-based solutions to securely communicate with its global investor community. IMG, an independent private equity real estate fund manager focused on the Russian market, is using IntraLinks to raise its second fund, Russia Development Fund II.
"In the current fundraising environment, investors have significant demands for timely access to large quantities of due diligence information," says Stephen Terzolo, Investor Relations Manager at IMG. "Previously, IMG used traditional fundraising methods, such as postal mail, e-mail, courier services and on-site visits, to communicate with investors. As the global regulatory environment has evolved, there is now a need
Primavera Capital Group has agreed to subscribe to China XLX Fertiliser’s convertible bonds worth approximately USD51 million through a wholly owned subsidiary. The private equity fund will indirectly hold 14.97% of the company’s enlarged capital and become its third largest shareholder and largest institutional investor upon full conversion of the bonds.
The five-year Renminbi-denominated convertible bonds will be issued at face value. They carry an annual coupon rate of 4.5% and interests will be paid on each anniversary of the original issue date of the bonds. Conversion price of the bonds is fixed at RMB 1.84 per share, representing a
Dunedin Enterprise Investment Trust has voted in favour of refocusing its portfolio on investments that fall within Dunedin Capital Partners Ltd’s (Dunedin) core area of investment management expertise, as a UK lower mid-market private equity house.
The Trust’s portfolio will be progressively refocused on UK lower mid-market buyouts where the Trust has invested directly or through funds managed by its investment manager, Dunedin. The Trust will not make further commitments to managed funds by other private equity fund managers across Europe, but will meet its existing fund commitments to third party managers.
Shaun Middleton (pictured), Managing Director, Dunedin says: “This
CIT Group Inc has provided a senior secured credit facility to TrustHouse Services Group, Inc. to finance its acquisition of A’viands Food Services Management, a regional foodservice provider to the healthcare and education sectors. TrustHouse is a portfolio company of Gryphon Investors, a San Francisco-based middle market private equity firm.
CIT Sponsor Finance served as Joint Lead Arranger and Administrative Agent for the transaction. Financing was provided by CIT Bank, a wholly-owned subsidiary of CIT. Terms of the transaction were not disclosed.
"We are pleased to provide this financing to support TrustHouse’s acquisition of A’viands," says Ian Townsager, Director of
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