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Olympus Partners has recapitalised PLZ Aeroscience Corporation (PLZ) along with AEA Investors (AEA) and management.
PLZ is the leading manufacturer and marketer of specialty aerosol products in the US PLZ formulates blends, fills and packages more than 1,100 branded and private label consumable, staple products such as cleaning agents, disinfectants, air fresheners, polishes, adhesives, lubricants, insecticides and other industrial aerosol products. Headquartered in St. Clair, Missouri, PLZ has built a reputation for research and development expertise, superior customer inventory management and unmatched engineering excellence that allows PLZ to compete in both the short and high-run segments.
Manu Bettegowda of Olympus
Private equity fund Brasil Agronegócio FIP is to commit USD82m of fresh equity capital to acquire a majority controlling stake in a joint venture company with Agrifirma Brazil, Agrifirma Brasil Agropecuária Ltda (ABA). The two partners expect to obtain a listing for the shares of this jointly owned company on the Brazilian stock exchange in the next few years.
Approximately half of Agrifirma Brazil’s existing assets, including all its holdings of transformational land, are being consolidated into ABA, currently a wholly owned subsidiary of Agrifirma Brazil Ltd. FBA will invest R$130 million ($82m) for a majority controlling shareholding in ABA,
State Street Corporation has been appointed by Industriens Pensionsforsikring A/S (Industriens Pension) to provide investment analytics services for the fund’s private equity investments.
Industriens Pension is a leading Nordic investor in alternative investments. Across private equity, infrastructure and real estate Industriens Pension has invested in more than 125 private funds. Today’s announcement builds on State Street’s expertise of providing value-added solutions to the world’s leading institutional private equity investors.
“As we expand our alternative investment portfolios, we require a more robust and cost-effective administrative solution,” says Henrik Nøhr Poulsen, head of Equities at Industriens Pension. “Leveraging State Street’s complete investment
A total of 43,005,846 shares of Absolute have been tendered to HarbourVest Acquisition GmbH under the public tender offer published on 7 June, 2011 for all publicly held bearer shares of Absolute, with a nominal value of CHF 10 each (each, an “Absolute Share”).
The tenders amount to 98.68% of all Absolute Shares and voting rights issued and outstanding as of the date of this release.
John Toomey (pictured), Managing Director of HarbourVest, says: “We are delighted by this result and believe the high take-up by Absolute shareholders shows the fair value of our offer. The high level of
Liz Claiborne, Inc has agreed to sell its global Mexx business to a joint venture majority-owned by private equity firm the Gores Group, in exchange for 18.75% of the common equity of the joint venture and a total cash consideration of USD85 million.
The transaction is subject to working capital closing adjustments, which includes USD60 million of ABL facility debt that is expected to be assumed by the joint venture and refinanced at closing.
The Gores Group will own an 81.25% majority interest in the joint venture and has also committed to supporting the business through its ongoing turnaround.
The
Don Seymour (pictured), founder and managing director of DMS Management and former head of investment services at the Cayman Islands Monetary Authority, says last week’s judgement against directors of the Weavering Macro Fixed Income Fund, for failure to perform their duties adequately, was a long time coming – and that in future members of Cayman fund boards who fail to perform their duties and responsibilities properly will pay a heavy price…
It was bound to happen. There are more than 10,000 directors serving Cayman Islands funds – everyone from rank amateurs to serious professional firms – and fund governance has
Private equity firm Graham Partners has sold Schneller LLC, a leading provider of highly-engineered, laminates for surfaces within commercial aircraft, to strategic buyer TransDigm Group Incorporated (Transdigm; NYSE:TDG).
Harris Williams & Co acted as the exclusive advisor to Schneller in the transaction. which closed on 31 August. 2011. The transaction was led by Jon Nemo, a managing director and head of the ADG Group at Harris Williams & Co, and Chris Rogers and Doug Kinard from the firm’s Aerospace, Defense & Government Services (ADG) Group, along with Brent Spiller from the firm’s Richmond office.
“We have known Graham Partners
The Avaloq group has acquired a majority stake in B-Source AG, a banking business process outsourcer (BPO) in Switzerland. BSI, part of the Generali Group and original founders of B-Source, will remain a minority shareholder and an important customer of B-Source.
According to Avaloq, the acquisition of B-Source means that the group has become the largest independent provider of comprehensive solutions for the execution of banking business. B-Source remains a legally independent entity forming part of the Avaloq group and will continue to operate under its own name. The Avaloq group will retain B-Source’s existing locations in Ticino, Zurich,
Baltimore-based Remedi SeniorCare has closed a USD300 million equity commitment from affiliates of New York-based Centerbridge Partners, LP, of which USD60 million was funded today. The investment will support the continued growth of Remedi’s customer-driven innovations, Paxit and My Remedi, as well as acquisitions and greenfield start-up pharmacies in new markets across the United States. Remedi’s founding investor, Sterling Partners, will continue to participate in the company’s ongoing growth.
Through the development and deployment of innovative technologies and web-based solutions, Remedi enables long-term care facility operators and providers to efficiently deliver optimal medication management and unequalled resident safety and
Equity markets have had a torrid time of late, buffeted by the headwinds of slowing economic growth, and the ongoing worries about the Eurozone sovereign debt crisis. However, amongst all the gloom there are still some bright spots, says Willem Sels, UK Head of Investment Strategy at HSBC Private Bank…
Lower valuations, healthy balance sheets, and low financing costs have enabled the M&A cycle to continue. High profile deals announced in recent weeks are evidence that every threat presents an opportunity. In our view the conditions remain in place for M&A activity to continue, which should be beneficial for markets
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