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Rock Hill Capital Group has completed a recapitalization of Kiva Kitchen & Bath Holdings, LLC, a leading re-seller and installer of high-end household appliances, plumbing fixtures, hardware, countertops and cabinets. Kiva is headquartered in Houston, TX and sells through 12 showrooms located throughout Texas and Southern California.
Kiva was founded by Tolar N Hamblen and James A Cozby in 1998 and has grown through acquisition of local appliance retailers and organically by establishing long-term relationships with local builders/developers, architects and interior designers. Kiva’s annual revenues were approximately $80 million in 2010.
“We are pleased that Tolar and Jim selected Rock
Serge Adam has joined Highbridge Principal Strategies (HPS) as a Managing Director. Adam joins HPS after ten years at Sandell Asset Management, where he most recently was a senior managing director and portfolio manager for its credit business. He will share responsibility for managing the HPS public credit business with HPS Managing Director Purnima Puri.
“Serge is an exciting appointment to an already-strong team built by Purnima,” says Scott Kapnick (pictured), CEO of Highbridge Principal Strategies. “Serge’s experience managing complex hedged credit portfolios will be incredibly valuable as we take advantage of attractive opportunities in the credit markets, continue
Celtic Pharmaceutical Holdings, the global private equity firm focused on the biotechnology and pharmaceutical industries, has announced the presentation of key in-vitro data at the American Academy of Dermatology (AAD) 69th annual meeting in New Orleans (4-8 February, 2011) for TDT 067, terbinafine in Transfersomesâ, for the topical treatment of onychomycosis (also known as a fungal nail infection).
The first of the two in-vitro studies presented by the lead investigator, Professor Mahmoud Ghannoum, Director of the Centre for Medical Mycology at Case Western Reserve University in Cleveland, Ohio, investigates the actvity of TDT 067 against the common causative agents
Beringea, the international venture capital firm and manager of the ProVen VCTs, has sold its stake in Saffron Digital, a developer of video delivery platforms, to the HTC Corporation, a global designer of smartphones. In 2007 Beringea invested GBP1.15m in Saffron Digital through its ProVen VCT & ProVen Growth & Income VCT. The deal values the company at £30m and generated an IRR of 65%, on an investment return of 5.8x, for the two VCTs.
Trevor Hope, Beringea’s Chief Investment Officer, says: “We recognised some years ago the potential of mobile to drive digital media adoption and the great
Specialist fund services provider, Ipes has boosted its client base with the addition of two new mandates from private equity fund managers operating in the clean technology and renewable energy space.
The North West Energy and Environmental Fund, part of the North West Fund, which is largest public sector fund in the UK, has outsourced its back office administration to Ipes. The fund, which launched in December last year, is managed by CT Investment Partners and will make investments totalling GBP20m to support SMEs in the energy and environmental sector across the North West of England.
The North West
International law firm Mourant Ozannes has boosted its highly-ranked Cayman investment funds team with the recruitment of Simon Palmer, Robert Duggan and Caroline Spottiswoode.
Palmer is a leading practitioner in the field of offshore investment funds, with over 14 years’ experience of Cayman Islands law. He joins Mourant Ozannes as a Partner from Maples and Calder, where he was a Partner for seven years. Simon has extensive experience of corporate and commercial law. His practice focuses on hedge funds, private equity funds and funds of funds (including distressed funds, fund restructuring and corporate governance issues), asset and structured financing and capital
Antin Infrastructure Partners has appointed Angelika Schöchlin as Partner and promoted Guillaume Friedel to Vice President.
Prior to joining Antin Infrastructure Partners, Schöchlin worked at Terra Firma as a Director based in Frankfurt. Angelika has over 12 years of experience in principal investing (including infrastructure) and corporate finance.
Alain Rauscher, Chief Executive Officer and Managing Partner, says: “I am delighted to announce the arrival of Angelika, which further strengthens our investment and asset management capacity. Following the successful closing of the Fund last September, Antin IP is focusing on delivering value creative transactions to our investors and Angelika’s
Venture capitalists put EUR843 million to work in 230 deals for European companies in the fourth quarter of 2010, according to Dow Jones VentureSource. This represents the lowest quarterly investment figure for Europe in 2010. Compared to the fourth quarter in 2009, deal flow dropped 31% from 333 deals and investment declined 16% from EUR1 billion invested in the fourth quarter of 2009.
Throughout 2010, 1,039 venture deals raised EUR3.9 billion, a slight increase in investment from the record low in 2009 when EUR3.6 billion was collected for 1,118 deals.
“The general economic woes and, more specifically, the
New research from BDO shows that multiples for good quality private companies increased in 2010 and is likely to continue to rise this year, driven by interest from both trade and private equity buyers.
In total 1,928 deals were completed in 2010, of which 83% were trade deals and 17% were private equity. Whilst the volume of deals is slightly lower than 2009 (2,174), there has been a shift away from ‘distressed’ deals to more ‘traditional’ transactions, focusing on good quality private companies.
The 2010 BDO Private Company Price Index (PCPI) tracks the price/earnings (p/e) multiples paid by trade
Aircell, a provider of inflight connectivity, has closed a USD35m financing with its existing investors and Aircell’s management team.
Through its Gogo, Gogo Biz, and other services, Aircell offers Internet connectivity on laptops, smartphones and PDAs on nine of the top 11 US airlines and on nearly 6,000 business aircraft, enhancing the inflight experience for passengers. Proceeds of the financing will be used to fund growth in both commercial and business aviation markets.
"2010 was the year Inflight Internet went mainstream and Aircell established its leadership in this exciting new mobile Internet venue," says Michael Small, Aircell President and CEO.
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