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The volume and value of deals completed during the first nine months of 2011 in the lower mid-market investment space has increased year on year for the past three years, according to research from Lyceum Capital and Cass Business School.
Data from The UK Growth Buyout Dashboard – a quarterly analysis of UK-headquartered private equity control deals in the GBP10 million to GBP100 million segment – shows that 63 transactions completed between 1 January 2011 and 30 September 2011. This compares to 50 investments for the same period of 2010 and just 25 during the first nine months of 2009.
Pamlico Capital has made a USD28 million equity investment in T2 Systems, Inc. T2, founded in 1994, is a rapidly growing provider of unified SaaS (Software as a Service) parking management solutions in the US and Canada.
CEO Mike Simmons will retain significant ownership of T2 and will continue to manage the growth of the company in partnership with Pamlico and the existing senior management team. Pamlico has also committed to investing additional expansion capital. Detailed terms of the transaction have not been disclosed.
T2 Systems is the only provider of a unified SaaS parking management solution for universities, municipalities,
Independent private equity real estate advisor MGPA intends to launch a core plus special fund under German investment law, aimed at making investments in the Asian region.
The focus will be on established markets such as Hong Kong, Singapore, Malaysia, South Korea, Japan and Taiwan. MGPA has operated in Asia since 1999 and has a substantial organisational structure in the region, with six offices and over 150 employees.
The planned special fund is intended primarily for German-speaking institutional investors. The intention is to raise up to EUR500 million in equity capital. The special fund will also be able to borrow an
A leading Managed IT Services Provider, Adapt, is set to execute a buy-and-build strategy to capitalise on market opportunities after securing backing from growth investor Lyceum Capital.
Adapt delivers enterprise-class cloud, infrastructure management, network and data centre services to a wide range of mid- market clients that operate business critical IT applications.
It serves a broad client base, many of which are fast growth businesses including PKR, Cubic Transportation, Last.fm, LOVEFiLM and LCH.Clearnet.
Established in 2001, Adapt has developed into a GBP35 million turnover business with current EBITDA of GBP3.9 million. The business is headquartered in central London and
Carey Olsen has been involved in an acquisition deal to buy AIM-listed company Indian Energy Limited (IEL) by Infrastructure India plc.
Indian Energy is currently one of the leading independent power producers in India and operates a wind farm in Karnataka and one in the state of Tamil Nadu. Infrastructure India, also AIM listed, provides investors with the opportunity to invest in Indian infrastructure assets across the country.
Carey Olsen acted for IEL on the corporate and regulatory aspects of the sale by scheme of arrangement and was the sole Guernsey legal adviser on the transaction.
The team from Carey
Private equity firm KPS Capital Partners has acquired substantially all of the assets of United Copper Industries, an affiliate of Organizacion IUSA, S.A. de C.V. (IUSA), through a newly formed company, UCI or United Copper. Financial terms of the transaction have not been disclosed.
UCI is a leading manufacturer and distributor of building wire and cable used in the construction of industrial, residential and commercial buildings in North America. United Copper manufactures all major types of 600-volt building wire and cable, including Thermoplastic High Heat Resistant Nylon ("THHN") wire, Thermoplastic Flexible Fixture Nylon ("TFFN") wire, Non-Metallic ("NM-B") cable, Underground Feeder
HarbourVest Global Private Equity Limited’s (HVPE) unaudited results for the six months ended 31 July 2011, show that its Economic Net Asset Value (Economic NAV) rose by 9.1% over the period.
At 31 July 2011, HVPE’s Economic NAV was USD924 million, or USD11.17 per share, a USD0.93 (9.1%) increase per share over the six-month financial period from 31 January 2011 (USD10.24), its highest level since HVPE came to market in 2007.
This increase was driven primarily by HarbourVest U.S. fund-of-funds, which increased by USD0.48 per share. USD0.14 per share resulted from HarbourVest international fund-of-funds, USD0.15 from HarbourVest direct funds,
The Association of Investment Companies (AIC) has responded to HM Treasury’s review of the VCT scheme rules.
The AIC proposes allowing individual VCTs to invest greater amounts in individual SMEs and this would be achieved by removing the annual £1million investment limit. This reform would benefit both individual VCTs and the companies they invest in by reducing due diligence costs and creating a simpler way of meeting the funding need of businesses seeking development capital.
The AIC supports the Government’s desire to ensure that VCT investment is properly focused on risk capital. Its proposals seek to deliver rule changes which
Yieldex, a provider of inventory and revenue management solutions for digital publishers, has raised USD10 million in its third round of venture capital funding. Triangle Peak Partners and Hearst Interactive Media led the round.
Existing Yieldex venture capital investors Sequel Venture Partners, Madrona Venture Group, and FFP Holdings also participated in the round, as did previous investor Amazon.com, Inc.
"With this new funding, we enter an exciting new phase for our company," says Yieldex CEO Andy Nibley. "We have the opportunity now to accelerate development of new and existing products, rapidly expand our sales capabilities and begin to take advantage
The Bird & Bird Paris corporate restructuring team has assisted BNP Private Equity in its Management Buy Out (MBO) of DNV IT Global Services. The takeover took place in association with Annie Combelles, Manager of the company.
Through this operation, DNV IT Global Services, IT consulting company to companies and large organisations, regains its independence and is re-named Inspearit.
Based in Paris, Inspearit consists of 170 consultants, engineers and trainers spread geographically between France, Italy, the Netherlands and Asia, particularly in Hong Kong, Singapore and Shanghai.
This takeover by BNP Paribas Private Equity and a manager breathes a new lease
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