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Edwards, a manufacturer and provider of highly engineered vacuum technology products and abatement systems, is intending to apply for admission to the premium listing segment of the Official List of the UK Financial Services Authority (FSA) and to trading on the Main Market for listed securities of the London Stock Exchange Plc. The company, which was founded in 1919, plans to proceed with an initial public offering of its ordinary shares to institutional and professional investors in the United Kingdom and elsewhere.
Edwards believes that the proposed IPO is the natural next step in the group’s development and will enhance
The estimated economic net asset value (NAV of HarbourVest Global Private Equity Limited (HVPE), was USD829.4m or USD9.99 per share, as as at 28 February 2011. This figure represents a 2.5% increase from the 31 January 2011 estimated Economic NAV per share of USD9.75.
The change was driven by increases in value for privately-held companies, as a portion of direct and fund-of-fund holdings were revalued to reflect final 31 December 2010 results (approximately USD0.15 per share); increases in the value of publicly-traded holdings to 28 February (USD0.06 per share); and foreign currency movement (USD0.05 per share). The gains were partially offset
Kleinwort Benson has agreed a deal to acquire Close Brothers Offshore Group (COG) for a cash consideration of GBP29.1m, subject to adjustments by reference to the net asset position of the business at the time of completion.
The acquisition comprises COG’s private banking, fund administration, fund management, trust and asset management businesses across Guernsey, Jersey and the Isle of Man. It also includes COG’s wholly-owned shared service centre in Cape Town.
The purchase increases the size of Kleinwort Benson’s private wealth assets under management to approximately GBP7bn. It extends Kleinwort Benson’s offshore reach with an additional presence in the Isle
A survey of some 200 real estate industry leaders, who gathered last Friday at Akerman Senterfitt’s second annual US Real Estate Summit, revealed an optimistic industry looking at opportunities in various sectors despite continued financing challenges.
Signifying a recovering industry, 77 per cent of respondents indicated their outlook for the market in 2011 was more optimistic than it was in 2010. In addition, a common theme at the Akerman Summit was access to capital and other continued financing challenges for the industry, as banks continue to work through significant issues in their real estate portfolios. When asked to rank
Digital ad network RadiumOne Inc has closed a USD21 million Series B funding round led by Crosslink Capital. DFJ Esprit also participated in the round along with previous investors Adams Street Partners and Trinity Ventures, bringing total funding to USD33.5 million.
The latest funding round will primarily be used for international expansion and acquisitions. RadiumOne recently opened its UK office, and in the coming months will be launching in continental Europe and Asia Pacific. The Company, which reached profitability in Q4, will use its existing and new capital for potential acquisitions designed to give the company additional resources and tools
Monroe Capital LLC, a private investment firm focused on investments in middle-market and lower middle-market companies, has appointed Warren Woo as a Partner and Managing Director of its recently closed GBP250 million investment fund, Monroe Capital Partners Fund LP.
Woo will lead the Los Angeles office for Monroe Capital and be responsible for covering the West Coast region.
The latest Monroe Capital fund will provide senior and junior/mezzanine debt and equity co-investments for private equity-sponsored and privately held businesses undergoing recapitalization, refinancing, acquisition and expansion. Investments will be made across a broad range of manufacturing, distribution and service industry segments,
JP Morgan Private Equity Limited (JPEL) has reached agreement on the terms of a new multi-currency credit facility in the amount of USD150 million with Lloyds Bank Corporate Markets.
Proceeds from the new facility will be used to refinance the Company’s existing USD100 million facility with Fortress Credit Corp, which is scheduled to mature in 2012.
The Lloyds Bank Corporate Markets facility offers the Company multi-currency flexibility, improved pricing and a longer maturity date of May 2013. Key terms of the facility include: LIBOR +275bps for a loan to value ratio (LTV) of less than or equal to
The implementation of the keenly-awaited UK Bribery Act has been delayed to allow greater clarity in its provisions and definitions, but Carl Winkworth and William P. Barry of law firm Richards Kibbe & Orbe argue that there is no reason for hedge fund and private equity managers to wait until final publication of the legislation to begin implementing anti-corruption compliance programmes.
The UK Bribery Act has been heralded by some as a tough new anti-corruption measure, and criticised by others for the absence of clear guidance on how corporates should design policies and procedures to promote compliance with the act’s
Perceva Capital has become the sole shareholder in SHARK after strengthening the equity base of the French supplier of mid-range and high-end motorcycle helmets. It follows an equity raising process that started in June 2010, led by the management with the support of its major shareholder AtriA Capital Partenaires.
Based in Marseilles, SHARK is an internationally renowned company that designs innovative helmets offering a high level of performance and safety. The company has its own integrated production facilities, with two factories producing more than 300,000 helmets each year. SHARK employs 670 people and generated sales of EUR30 million in 2010.
Finmeccanica has reached an agreement with First Reserve Corporation, an international private equity investor specialised in the energy sector, for the sale of a 45% stake in Ansaldo Energia (AEN).
The transaction completes the program undertaken by Finmeccanica following the acquisition of DRS Technologies, which includes the share capital increase of 2008 and the rescheduling of financial debt completed in 2010.
The transaction values the share capital of Ansaldo Energia at EUR1,233 million. Finmeccanica will sell AEN at a price of EUR1,073 million to an Italian registered company, Ansaldo Electric Drives (AED), 45% held by First Reserve and
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