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Private equity firm Francisco Partners (FP) has sold Mincom Pty Ltd. (Mincom) to ABB Ltd (ABB). Terms of the have not been disclosed.
Neil Garfinkel, a Partner and co-founder of Francisco Partners, says: “The Mincom team has done a terrific job of building a next generation asset management software platform and of extending the leadership position it has established in asset intensive industries over the past 31 years. ABB’s global reach, strong customer relationships and demonstrated commitment to asset management software and solutions leadership make it a superb fit for Mincom’s customers and employees.”
Mincom is a global software and
James Metcalfe, the global head of power and utilities investment banking at UBS AG, is joining Alinda Capital Partners, a leading infrastructure investment firm, as its seventh Partner.
Metcalfe will work alongside Alinda Partner, Graeme Bevans, to focus on core infrastructure investments.
Core infrastructure investments are a new strategy for Alinda, which has previously focused on value added infrastructure investments.
Bevans joined Alinda in July 2010 from Canada Pension Plan Investment Board, where he was head of infrastructure investing. Since joining Alinda, Bevans has focused on developing core infrastructure strategies for the firm.
Investments in utilities and
Access Industries is to acquire Warner Music Group (WMG) in an all-cash transaction that values WMG at USD3.3bn. The purchase includes WMG’s entire recorded music and music publishing businesses. The purchase price of USD8.25 per share represents a 34.4% premium over the volume-weighted average share price of USD6.14 over the previous six months.
Under the terms of the merger agreement, WMG’s stockholders will receive USD8.25 per share in cash at the closing of the transaction. WMG’s Board of Directors approved the transaction and recommended that WMG’s stockholders approve the transaction. In addition to stockholder approval, the transaction is subject
Mid-market private equity firm Palamon Capital Partners (Palamon) has invested in the German medical services business OberScharrer Group. Details of the transaction have not been disclosed.
Headquartered in Fürth, Germany, the OberScharrer Group was founded in 1982 by Dr ManuelOber and Dr Armin Scharrer, and operates seventeen sites across Bavaria and Baden-Wuerttemberg. The Group offers a broad spectrum of specialised ophthalmic treatments providing high quality medical care to public and private patients.
OberScharrer has sought a partnership with Palamon to ensure its ability to finance its continued growth, whilst maintaining its independent status. The founders, who will remain with the business, will continue
Langham Hall Hong Kong has been appointed by NewQuest Capital Partners, a newly-established private equity manager lead by the former Bank of America Merrill Lynch Asia private equity team, to administer the NewQuest Asia Fund I, LP.
The fund is backed by a syndicate of limited partners comprising Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia and has acquired substantially all of Bank of America Merrill Lynch’s non-real estate private equity portfolio in Asia.
Andrew Read (pictured), Partner and Head of Asia at Langham Hall says: “We are excited to be working with such a well regarded investment
HarbourVest Global Private Equity Limited (HVPE), a closed-end investment company, has taken steps to implement its previously announced share buy-back programme with the objective of decreasing the discount to NAV at which HVPE’s shares are currently trading. The Buyback Programme will commence with effect from 5 May 2011 and, subject to extension, end on 4 May 2012.
HVPE has appointed JPMorgan Cazenove and Oriel Securities Limited (Joint Brokers) to effect on-market repurchases of class A ordinary shares (Shares) on behalf of the Company on the Specialist Fund Market of the London Stock Exchange plc (SFM).
Pursuant to and during
Phoenix Equity Partners is opening a new office in Manchester. This will be Phoenix’s third UK office.
The office will be headed up by John Rastrick, a partner at Phoenix, who is based in the region and leads Phoenix’s regional deal generation, business development and investment activities in the North. Before joining Phoenix in January 2007, John previously worked for 3i in Manchester and Leeds. He has been joined in the new Manchester office by Barry Robinson, a Principal at Phoenix, who has relocated to the North West. Barry joined Phoenix in 2005 and previously worked for Deloitte Corporate Finance
Lloyds Bank Corporate Markets has strengthened its Acquisition Finance team in the North West with the appointment of director, Matt Widdall.
Widdall joins the bank from Deloitte’s corporate finance advisory practice in Manchester where he gained 12 years experience advising on company acquisitions, disposals, joint ventures, restructurings, and debt and equity finance raising transactions.
During this time, Widdall advised on a number of high profile private equity-backed deals, including Endless LLP’s investment in Darwen manufacturer, Crown Paints.
He will join Neil Price and Kerry Morley at the firm’s Manchester office, where he will work closely with sponsors and management teams
Equidity Inc, a new platform designed to help institutional investors hook up with pre-IPO and newly public companies, is planning to hold its inaugural investor forum in November.
Equidity, which was founded by CEO Mona DeFrawi (pictured), former CEO of Menlo Park, California-based InsideVenture, uses a proprietary technology platform to connect an exclusive network of qualified institutional investors with carefully selected, top pre-IPO companies.
In private stage investing, where there is a lack of information transparency, Equidity provides highly effective and time- and cost-efficient tools for late-stage investing and IPO success. Equidity empowers companies in meeting their best long-term growth
First Reserve Corporation has closed its latest fund, the First Reserve Energy Infrastructure Fund, at over USD1.2bn. The closing of follows the successful close of its most recent buyout fund, First Reserve Fund XII, in 2009 at approximately USD9 billion.
First Reserve has invested exclusively in the energy and natural resource industries for nearly three decades and has over USD20 billion of assets under management.
The fund’s infrastructure investments will be focused on long lived assets in three energy verticals: contracted midstream, which includes pipelines, storage and LNG facilities; contracted power, which includes renewable generation and conventional generation; and
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