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Private equity investment in UK upstream oil and gas technology firms will be boosted by an increase in exploration and production (E&P) spending, according to Greg Herrera (pictured), a partner in venture capital group Energy Ventures.
Private equity activity will be stimulated by greater E&P spending in the North Sea.
All the signs are that E&P spending will increase throughout this year and that presents new opportunities for companies like our own, paving the way for a fresh round of investments and greater support for existing portfolio companies.
For example STATOIL has said it will increase investment in Norwegian projects
Bertram Capital has launched a new platform in the location based services industry through a partnership with the executive teams at ProconGPS, Inc and Trackn Inc (Enfotrace).
Procon and Enfotrace are two of the leading providers of risk mitigation products, most notably GPS tracking solutions and payment protection systems, to the North American subprime automobile finance industry. In addition, Procon’s Fleet Services subsidiary is one of the fastest growing providers of GPS-enabled fleet management solutions in the United States. The executive teams at both Procon and Enfotrace will remain in place, directing strategy and managing business operations.
"We have been
Private equity firms Silverfleet Capital and August Equity have selected LexisNexis InterAction as the firms’ Client Relationship Management (CRM) solution.
InterAction helps firms to streamline contact and company information stored in disparate knowledge and data sources and provides a truly integrated approach to contact and prospect information management.
Relationships with deal contacts, advisors and industry experts are considered to be some of the most valuable assets that private equity firms hold. Recognising the importance of having this valuable information held in a central and secure place, August Equity and Silverfleet Capital have chosen to implement InterAction to consolidate company and contact
Independent global fund administration busines Apex Fund Services, has opened a Cayman Islands office.
The opening of the Cayman Islands office is part of Apex’s strategy of giving fund managers access to all of the world’s financial centers and providing the full suite of Apex’s fund administration services via its network of global offices, including Apex’s ground breaking real time middle office service (MOOR) and range of fund platforms.
Apex has been granted a Companies Management Licence by the Cayman Islands Monetary Authority and the Company now provides the following services: independent directors, local directors, Apex directors, corporate secretarial
OpenGate Capital, a global private equity firm, has signed a definitive agreement to acquire Norampac Avot-Vallée, a producer of packaging materials composed of recycled fibers, from Cascades, Inc. (Toronto Stock Exchange: CAS).
Located in the North of France, Norampac Avot-Vallée manufactures White Testliner, a specialty paper that is made 100% from recycled fibers and used for a wide variety of packaging products. With an annual production in excess of 145,000 tons, Norampac Avot-Vallée has been the leading producer of White Testliner in France for many years and services a vast range of blue-chip European industrial paper and packaging customers.
“We were excited
Highly experienced lawyer Bruce Scott (pictured) has been appointed a partner of Bedell Cristin and will head the Jersey legal services team based in the City of London. – which is growing in response to client demand for City-based Jersey law expertise.
Scott will lead a team of specialist lawyers covering all the principal financial services areas – providing the ready-access Jersey law practice the firm’s clients and intermediaries need in the heart of the City.
Immediately before joining Bedell Cristin, he spent five years with another Jersey law firm, Ogier. As well as his offshore pedigree he also brings
The recently announced acquisition of Butterfield Fulcrum (BFGL) underscores the continued interest that private equity funds have in fund service providers.
With over 200 fund administrators operating globally, the industry provides many opportunities for private equity investors. However, both private equity firms and funds in the process of selecting an administrator need to understand some of the potential minefields administrator firms are facing during the next stage of growth in alternative investing.
The Butterfield Fulcrum acquisition partnered firm executives (Glenn Henderson and Tim Calvey) with USD2.6bn private equity firm BV Investment Partners. According to the firm assets under
AIM-quoted Creat Resources Holdings Limited (CRHL) has welcomed the completion of pre-IPO fundraising by ASX-listed Galaxy Resources, in which it is a major shareholder.
Although Galaxy is already listed in Sydney, Australia, it has announced an impending dual listing on the Hong Kong Stock Exchange. The new share placing raised AUD91.5 million (approx GBP57 million) from a single new shareholder – Fengli Group (Hong Kong) Ltd, at AUD1.39 per share.
CRHL last year completed the acquisition of a 19.9% shareholding in Galaxy at an agreed price of AUD0.88 per Galaxy share. That shareholding has now been diluted to 17.78%.
The
Private equity firm Falfurrias Capital Partners has retained Harris Williams & Co as a financial advisor to explore future options for the firm’s’ investment in Bojangles’ Restaurants, Inc, including a possible sale of the fast-growing, Charlotte-based restaurant chain.
“We have been extremely pleased with our investment in Bojangles’ and its growth as a premier quick-service restaurant group in the southeastern US,” says Marc D Oken, co-founder and managing partner of Falfurrias Capital Partners. “As we said when we purchased controlling interest in Bojangles’ in 2007, as a private equity firm we have a four-to-seven-year time frame to hold our investments.
CDC Group plc, the UK’s development finance institution, has announced that Richard Laing (pictured), Chief Executive, has advised the company of his intention to retire in early 2012.
Richard Gillingwater, CDC Group plc’s Chairman, says: “Richard has made a very significant contribution to CDC over his 11 years at the company, especially during the last seven years as Chief Executive. CDC’s development and financial success would not have happened without his passion and leadership. CDC is now a successful development institution and is a leader in private equity investment in the poorest countries, especially Africa and Asia. During his period
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