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Funds advised by HIG European Capital Partners LLP and its debt affiliate Bayside Capital have acquired Silentnight, Ltd. the UK’s leading bed & mattress manufacturer. This is after Silentnight was forced to file for administration following unsuccessful negotiations with the Pension Protection Fund over the company’s unserviceable pension deficit.
The deal with HIG Europe secures the future of the Lancashire-based Silentnight and safeguards the jobs of its 1,250 employees.
HIG Europe will take full ownership of Silentnight’s ongoing business interests, including its brands and all other assets. The acquisition of Silentnight marks H.I.G. Europe’s twelfth new deal investment in the
Harris Williams & Co has advised Idaho Pacific Holdings, Inc (IPH), a subsidiary of Otter Tail Corporation, on the company’s sale to to Novacap Industries III, LP (Novacap). The transaction closed on May 6, 2011. Harris Williams & Co. acted as the lead advisor to IPH. The transaction was led by Tim Alexander, Glenn Gurtcheff, Jeff Cleveland and Brant Cash from the firm’s Consumer Group in Minneapolis.
“IPH is an industry leader serving blue-chip customers across the ingredient, foodservice, and export markets. The company’s broad product offering and operations that span multiple potato growing regions provide unmatched stability and
Harvey M Eisenberg and Douglas A Ryder will join the New York office of International law firm Weil, Gotshal & Man as partners in its private equity practice group. Eisenberg and Ryder come to Weil from O’Melveny & Myers LLP.
Eisenberg has held a number of leadership positions at his former firm, including head of its Global Transactions department and most recently, he served as the Co-Chair of its Strategy Committee. He was a member of its Investment Funds and Mergers & Acquisitions practices and has more than 25 years of experience representing alternative asset managers, particularly private equity firms
Arlington Capital Partners (Arlington), a Washington, DC-based private equity firm, has recapitalised Iron Data Solutions in partnership with the company’s existing management team, of privately held Iron Data Solutions, LLC (Iron Data) in order to facilitate further growth. This transaction represents Arlington’s third government software deal in the last 12 months.
Headquartered in Atlanta, Iron Data offers a comprehensive suite of solutions, called Intelligent Process Management (IPM), that assess, improve, manage and monitor challenging operational process issues for federal, state and local government clients and transportation/logistics customers in the private sector. Iron Data has more than 400 employees across 11
Santa Rosa, California-based Praxis Capital LLC has acquired the 136-unit Elm Grove Apartments in the master planned community of Kingwood, Texas, a class A suburb of Houston. This stabilised, yet high potential complex, is the second Texas acquisition targeted and acquired by Praxis Capital in the last ten weeks.
Elm Grove is ranked as the largest master-planned community in Harris County, Texas. The Kingwood submarket was recently ranked number 1 in the Houston area in terms of rent growth by REIS, Inc. The Houston MSA population is estimated to increase by 2.66 million residents by 2030. This would result
EVCARCO Inc announced today has signed a USD10m drawdown equity financing agreement with Boston based Auctus Private Equity Fund, LLC (Auctus).
Mack Sanders, CEO of EVCARCO, says: "We are pleased to have signed this funding agreement with Auctus, which provides the Company with future flexibility and will help us with dealership acquisitions, operations and general corporate use."
Nickolay Frolov, CFO of EVCARCO, says: "The Auctus Agreement requires the company to file for fewer shares and should have a gradual effect on our share structure due to the 36 month term. The company is also looking at several smaller debt financing
International Financial Centre law firm Walkers has made a series of senior management changes within the firm’s global group.
With the forthcoming retirement of Global Chairman Wayne Panton, who has been an attorney with Walkers since 1988 and a partner with the firm since 1997, this key strategic role is to be taken on by current Global Managing Partner Grant Stein (pictured), with effect from 1 July 2011. The move into the role of Global Chairman dovetails neatly with Stein’s recent involvement in international regulatory matters, particularly his work in the formation of the International Financial Centres Forum (www.ifcforum.org),
Steve Belgrad (pictured) is leaving his role as Chief Financial Officer of HarbourVest Global Private Equity Limited to take up a senior position in the asset management sector. His resignation is effective 31 May 2011.
Sir Michael Bunbury, Chairman of HVPE, says: "I would like to thank Steve for his significant role in the development of HVPE over the last three years. He has helped steer the Company through an eventful period, and we are grateful to him for his valuable advice as Chief Financial Officer. He leaves with our best wishes for the future".
Steve Belgrad, outgoing Chief
Impetus Capital is investing in Audience Entertainment, the New York-based developer of a proprietary interactive platform that provides innovative marketing and advertising experiences. Co-owned by industry leader YDreams, the Company employs pioneering digital technology which enables audience participation in "Kinect" games sponsored by major advertisers in a mass consumer setting.
"Advancements in digital technology combined with transformational shifts in media and entertainment is providing considerable opportunities for companies such as Audience Entertainment," says Founder and President of Impetus Capital, Patrick Persons. "Audience Entertainment is a wonderful example of a small business that is posed for significant growth and yet typically
Clearspring Technologies, Inc, provider of the largest social content sharing platform AddThis, has closed a USD20M series D round of funding led by Institutional Venture Partners (IVP), alongside Clearspring’s existing investors. IVP has funded some of the fastest-growing, data-driven online companies including Twitter and Zynga.
This investment comes amid a period of continued, significant growth for Clearspring as a company, as a platform and as a provider of real-time interest data on Internet audiences. The funding will be used to accelerate Clearspring’s next-generation publisher products and continued growth of its advertising offerings, as well as to help fuel strategic
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