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Cognetas LLP, an independent mid-market European private equity firm, has agreed to sell KSM Castings Group (KSM) to China’s CITIC Dicastal Wheel Manufacturing Co, Ltd (CITIC Dicastal), one of the world’s largest suppliers of cast aluminum wheels for the automotive industry.
In 2005, Cognetas led the management buy-out of KSM Castings, formerly ThyssenKrupp Fahrzeugguss, from ThyssenKrupp AG. KSM is recognised as a technology leader in the global light metal castings industry and has an excellent customer base consisting of blue-chip automotive OEMs and Tier 1 suppliers such as Volkswagen Group, Daimler, Benteler, Bosch, ZF and TRW. Under Cognetas’ ownership, revenue
Private Equity firms invested about USD2,916 million across 112 deals in India during the quarter ended June 2011, according to a study by Venture Intelligence (http://www.ventureintelligence.in), a research service focused on Private Equity and M&A transaction activity in the country.
The amount invested during the quarter was over 45% more than that during the same period last year (which witnessed USD1,988 million being invested across 70 deals) but 15% lower compared to the immediate previous quarter (USD3,361 million across 91 deals).
The largest PE investment during Q2 ’11 was the Rs.2,250 crore (about USD500 million) commitment by Apollo Management to
PGL, the privately-owned financial services development capital group, has signed a definitive agreement to dispose of its majority stake in Origin Asset Management, LLP, (Origin) to Principal Global Investors, LLC, a leading global asset manager and a member of the Principal Financial Group (NYSE:PFG). Total consideration, including proceeds to other vendors, will be approximately GBP41 million. Origin is an established global equity specialist based in London.
Origin was founded in 2005 by a respected team of investment managers in partnership with IPGL, a private holding company. The firm now has approximately USD3 billion[1] in assets under management in Global and
China Auto Logistics Inc, one of China’s leading developers of automobile-related websites, a top seller in China of imported luxury vehicles and a leading provider in China of automobile-related services, has successfully closed the sale on 1 July of three million unregistered common shares to accredited individual investors at an above market price of USD1.75 per share, raising a total of USD5.25 million for general corporate purposes.
Tong Shiping, CEO and Chairman of the Company, says that each of the investors, in agreeing to a long term purchase of CALI shares above their 20-day moving average price, "clearly appreciate the
eBay Inc has agreed to acquire Zong, a leading provider of payments through mobile carrier billing, for total consideration of approximately USD240 million in cash. Zong leverages connections with more than 250 mobile network operators around the world, offering localised, secure and easy-to-use payments capabilities for digital goods and services in 21 languages and 45 countries. Combined with PayPal’s leading global payment platform serving 100 million active accounts worldwide, the company expects that Zong will add complementary technology and talent that help strengthen PayPal’s leadership position in mobile payments and digital goods.
Zong allows consumers to easily pay for purchases
Better Capital Limited’s BECAP Fund LP (the fund) has entered into an agreement to acquire the UK and Irish business of Spicers, a pan-European supplier of stationery and office products, which is currently a subsidiary of DS Smith Plc, from Unipapel SA.
The agreement is conditional upon the proposed disposal of Spicers by DS Smith Plc to Unipapel SA. The fund has committed GBP40 million to a wholly owned special purpose vehicle set up to effect the transaction.
Infogroup, the leading provider of targeted high-value sales and marketing data, market intelligence and innovative digital engagement solutions, has sold its global market research firm, ORC International, to Lake Capital Management, a Chicago-based private equity firm. The terms of the transaction have not been disclosed.
“During the past year we have taken a series of steps to focus Infogroup on serving the integrated multichannel sales and marketing needs of our clients” says Clare Hart, Infogroup’s President and Chief Executive Officer. “The sale of ORC International is a continuation of this effort and allows us to concentrate our resources on our
Middle market investment bank Harris Williams & Co, has advised the Philadelphia Gear Corporation on its sale to strategic buyer Timken Gears & Services Inc, a subsidiary of The Timken Company (Timken; NYSE:TKR). The transaction, valued at approximately USD200 million, closed on 1 July, 2011.
Harris Williams & Co acted as the exclusive advisor to Philadelphia Gear. The transaction was led by Jon Nemo from the firm’s Aerospace, Defense & Government Services (ADG) Group as well as Tiff Armstrong, Matt White and Matt McLain from the firm’s Energy & Power (E&P) Group.
Philadelphia Gear, based in King of Prussia, PA
Cordiant Capital Inc (Cordiant), the Montreal based fund manager that specialises in loans to private borrowers in emerging markets, has committed a USD10 million loan to the Jordan-India Fertiliser Company (JIFCO).
The loan will finance the construction of a new USD186 million plant in Jordan, using phosphate rocks from local mines to produce phosphoric acid, a fertiliser, for the Indian market.
With the recent dramatic rise in the cost of basic foodstuffs in India, demand for fertiliser is increasing rapidly across the country. Demand for phosphoric acid is likely to keep rising in the longer term as the growth
An affiliate of HIG Capital, LLC, has partnered with the owners and management of Hart InterCivic – a leading provider of election voting systems, election management products and services – to make a strategic investment in the company. The investment positions the company for continued growth in its state, county and municipal technology businesses. The financial terms of the investment have not been disclosed.
“We’re proud to join with H.I.G. as co-investors as we continue the growth and success of Hart,” says Gregg Burt, Chairman of Hart InterCivic. “HIG shares and supports our vision, values, commitment to excellence and innovation,
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