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Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced that Garrett Hayes (pictured) has joined the London office of international law firm Paul, Hastings, Janofsky & Walker, enhancing the firm’s M&A and private equity practice in London. Garrett joins the firm from Macfarlanes where he has been a partner since 2005.
Haye’s expertise covers a broad range of general corporate work, M&A and private equity and in particular he has acted for private equity sponsors and portfolio companies on leveraged buyouts, restructurings and auction sale processes. He has also advised management on a number of high profile transactions.
Actiwave AB, a Swedish start-up technology company has raised SEK15 million in a rights issue lead by SEB Venture Capital. SEB also acquired all shares held by the current seed financier, Innovationsbron.
Founded in 2007 by Pär Gunnars Risberg, Actiwave AB is a Swedish start-up company that has developed a unique algorithm that significantly improves sound reproduction. The company has combined various research findings to pioneer an innovative technology that provides considerably enhanced sound quality to loud speaker systems, enabling small and flat panel speakers to reproduce a richer and wider sound spectrum.
The technology can be applied to loudspeakers
New Evolution Ventures, LLC (NeV), a developer and operator of health and fitness brands, and international investor Vision Capital, have formed a global investment partnership focused on the health, fitness and wellness industries, encompassing multiple brands that incorporate health clubs as well as nutrition, media, content and technology.
The strategy of the NeV – Vision partnership is to continue to invest in and develop the existing NeV brand portfolio as well as to make additional targeted investments in the health, wellness and fitness sector. NeV was founded in 2008 by Mark Mastrov and former 24 Hour Fitness executives Jim Rowley
Paris-based real estate group Nexity Participations has sold its entire stake in Eurosic to two investors, Batipart and Predica.
Nexity secured a price of EUR34.30 per share for its 32.07% stake in Eurosic amounting to a total consideration of EUR195.7m.
Mark Kelly, Special Situations strategist at Olivetree Securities, comments on Tui’s bid talks…
“Yesterday’s speculation and price movement suggests that Tui Travel was approached by its parent company Tui AG to buy the remaining 44.9% stake.
“We understood that Tui Travel has been in touch with the sovereign wealth fund of Oman, which apparently agreed to buy Tui Travel’s Hapag Lloyd stake. A move which is necessary for TUI AG in order to acquire the stake in Tui Travel.
“While Tui AG had argued it would happen before the summer, we have remained sceptical. As the backdrop for
Nearly 90 per cent of single family offices (SFO) are planning to place additional money in hedge funds this year, according to a new report published by The Rothstein Kass Family Office Group, a division of global professional services firm Rothstein Kass.
According to the results of a survey of 151 executive directors at single family office operations carried out during the first quarter of 2011, the most popular strategies are long / short equity (53 per cent), distressed (49 per cent), arbitrage (33 per cent), managed futures (25 per cent), and global macro (25 per cent).
"Raising Capital from
EIIB portfolio company TriTech I LLC, a United States based oil and gas exploration company (TriTech), has signed an agreement with JGC Energy Development (USA) Inc (JGC) to sell all of its oil and gas assets in the Pearsall Field, Texas. Total gross proceeds of the sale are expected to be approximately USD65 million, or approximately USD 10,300 per acre, which will be entirely settled in cash on completion.
The transaction is subject to conclusion of satisfactory due diligence by JGC, and it is anticipated that the transaction will be completed within 45 days.
EIIB, through a subsidiary, owns approximately
Aston Ventures – the independent fund manager – is forecasting a change in investor appetite towards private equity…
Tim Eve (pictured), partner at Aston Ventures – investment adviser to the KHG Private Equity Fund – says: “Investors and managers have been more open to alternative investments in light of recent market conditions. The GAIM conference provides an ideal opportunity for these types of investments to be showcased and discussed.
“The KHG Private Equity Fund moves away from the more traditional private equity funds. It’s open-ended, has quarterly dealing dates and caters for wholesale and private investors. We are targeting
UK mid-market private equity specialist ECI has invested GBP12 million in Croydon-based Stewart Group Holdings Ltd (Stewart) in a BIMBO (buy-in / management buyout) deal that values the business at GBP17 million.
Stewart is the UK market leader in the manufacture and supply of technical plastic moulded products for the gardening, home, professional catering and medical storage sectors. The company offers a large range of products in its portfolio ranging from garden planters and propagators, to food containers and specialist storage products for medical applications. The company employs 75 people in Croydon and enjoyed a turnover in 2010 of GBP15
Middle market private equity firm Genstar Capital has acquired MW Industries, Inc, a leading US manufacturer of highly engineered specialty springs and fasteners.
MW Industries, Inc, headquartered in Logansport, Indiana is a leading provider of highly engineered springs, specialty fasteners and other precision components to more than 23,000 customers. Its 40,000+ products are sold through a combination of direct sales, catalogs and distributors to original equipment manufacturers and aftermarket customers in a number of industries, including medical, heavy truck, electronics, agriculture and construction, military and aerospace, energy and automotive.
Rob Rutledge (pictured), who heads Genstar’s Industrial Technology vertical, says: "We are
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