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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
Albion Ventures has sold The Place Sandwich VCT Limited, the owner and operator of the 37-bedroom Bell Hotel in the medieval Cinque Port town of Sandwich, to Shepherd Neame Limited, Britain’s oldest brewer, for GBP3.6 million.
Funds managed or advised by Albion Ventures backed the acquisition of the historic hotel in January 2005, since when a total of GBP3.1 million has been invested. Since acquisition, all the bedrooms and public areas have been subject to a substantial refurbishment, including the Regency Room and the Old Dining Room restaurant, with additional bedrooms created. Since the renovation, the hotel has won an
The Securities and Exchange Commission has charged a Long Island-based investment adviser with defrauding investors in hedge funds investing in PIPE transactions and misappropriating more than USD1 million in client assets for his personal use.
The SEC alleges that Corey Ribotsky and his firm The NIR Group LLC repeatedly lied to investors to hide the truth that his PIPE investment and trading strategy was failing during the financial crisis. For example, Ribotsky falsely told investors that despite the adverse market conditions he could liquidate all of the PIPE investments in 36 to 48 months – a practical impossibility given the
BeCapital, a European private equity firm focusing on expansion capital investments in cleantech companies, announced the final closing of its first fund at EUR148.325 million, well above the EUR100 million initial target.
Initiated by BeCitizen, Cobepa and La Compagnie Benjamin de Rothschild, BeCapital gathered interest from a unique network of investors, mostly European families with well diversified industrial and geographical backgrounds.
BeCapital’s approach is based on the principles of Positive EconomyTM, a framework developed by BeCitizen, which asserts that economic growth can only be sustained if it preserves and restores the environment and natural resources. Furthermore, companies addressing these challenges will
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