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Global private equity firm HIG Capital has acquired a majority interest in ProPet, a specialist in the manufacturing of premium and super-premium, private label dry pet food for distribution domestically and around the world.
Based in St Marys, Ohio, and with additional operating facilities in Kansas City, Kansas and Owatonna, Minnesota, ProPet maintains relationships with numerous leading retailers that are interested in a high quality, secure source for private label pet food.
HIG teamed with the ProPet’s senior management, led by President and Chief Executive Officer, Mike Wright, to complete the recapitalisation. Land O’ Lakes, an owner of Pro-Pet since
ThermaSys Corporation, a US manufacturer of highly engineered copper, brass and aluminum heat exchanger components and assemblies, has acquired Covrad Holdings and Serck Heat Transfer, two UK-based manufacturers of heat transfer products. Terms of the transaction were not disclosed.
ThermaSys, headquartered in Montgomery, Alabama, is an affiliated portfolio company of private investment firm Sun Capital Partners, Inc, a specialist in leveraged buyouts and investments in market-leading companies.
Covrad Holdings and Serck Heat Transfer produce a wide range of products including radiators, charged air coolers, and oil coolers for OEM and aftermarket customers in the power generation, rail, marine, and transportation
Private equity fund services provider Ipes has strengthened its leadership team with the appointment of funds industry heavy-weights Andrew Whittaker (pictured) and Nigel Strachan.
Andrew Whittaker joins Ipes’ UK operation, which opened in 2005 and comprises over 20 staff, as Managing Director. He will be responsible for growing the business, with a particular focus on building the outsourcing practice. Andrew has extensive experience of onshore / offshore vehicles, open and closed and traditional and alternative funds. Prior to joining Ipes he was Managing Director for Capita Financial Group’s Specialist Fund Services division. Andrew also serves on the AIC Technical Committee
Private equity firm TA Associates has announced global promotions of six staff members, effective January 1, 2011.
“These professionals have played significant roles over the past year in helping TA source and close new deals, successfully exit prior investments and further build value in our existing portfolio companies,” says C Kevin Landry, Chairman and a Managing Director of TA Associates. “We are very pleased to announce their promotions, and look forward to these individuals building on their ccomplishments to advance the interests of TA, our portfolio companies and our Limited Partners.”
Christopher Parkin was promoted to Director from Principal. He
Private equity firm MidOcean Partners has acquired a significant equity position in Freshpet, a leading manufacturer and marketer of fresh, refrigerated food for dogs and cats.
Founded in 2006, Freshpet produces a line of natural and nutritious food and treats for dogs and cats under the Freshpet Select, Deli Fresh, and Vital brands that are sold in over 5,000 locations within mass market and supermarket chains as well as pet specialty stores across North America. Freshpet’s strategic partner, Tyson Foods, Inc. (NYSE: TSN), continues as an investor in the business and important distribution partner.
A significant portion of the
Paris-based M&A investment manager, Bernheim, Dreyfus, has reported continuing strong performance for its flagship Diva Synergy Enhanced Fund through 2010. In the 12 month period, the Fund’s dollar class gained 27.35% net and the euro class 27.91%.
Diva Synergy’s strong performance reflects, to some extent, a growth in mergers and acquisitions globally. According to Bernheim, Dreyfus’s January research letter: “The value of worldwide M&A totalled USD2.4 trillion during the full year 2010, a 23% increase from comparable 2009 levels and the strongest full year period for M&A since 2008".
Looking forward, the letter anticipates “deal activity will remain solid, focused
Nicolas Bichot, Patrice Couturier, Charles-Noël van den Broek and Mathieu Odet have gone into partnership to create Bichot & Associés, a Paris-based law firm dedicated to mergers & acquisitions and taxation.
Launched on 3 January 2011, the ambition of the firm’s four partners for the firm is to offer high-end services to private equity funds, leading national and international groups, family offices and innovative firms, including their founders and management teams.
“I am enthusiastic about the idea of establishing a new firm with my immediate team and to reunite with Patrice Couturier" says Bichot. "We have been working together for
Matrix Private Equity Partners (Matrix) has scored a hat-trick of new deals with the announcement of the GBP8.5 million management buyout (MBO) of Automated Systems Group Ltd (ASL), one of the UK’s largest independent reprographic and print solutions suppliers.
This is Matrix’s third deal in a month following the GBP9 million MBO of European recruitment provider RDL Corporation and the GBP4.5 million MBO of publishing business Faversham House.
“The strong end to the year follows a noticeable uptick in deal activity for SME funding since the summer.," says Mark Wignall, CEO of Matrix. "We believe that we have now entered
Robert Klap has joined Platinum Equity as a principal based in London, where he will assist the firm’s investor relations, capital raising and deal origination programs.
Most recently, Klap was an executive at UBS in London, responsible for managing private equity fund investments in the bank’s wealth management group. Previously, he was a private equity portfolio manager at Shell Asset Management Company and a fund manager at Mn Services, each of which are institutional investors in Platinum’s private equity funds.
"I am delighted that Robert is joining Platinum Equity," says Tom Gores (pictured), chairman and CEO of the firm. "We
Mid-market private equity firm Phoenix Equity Partners has appointed Jim Graham as Operating Partner, and Edward Lunken as Origination Analyst.
Graham joins Phoenix from Candover, where he spent three years as Operating Partner. Previously, he was the commercial/marketing manager at the GBP1bn pre-pay business unit at Orange. He has an MBA and worked as a consultant with Accenture.
Lunken joins Phoenix from LEK Consulting, where he worked for three years as a strategy consultant. Prior to this, he held a research position within the European Commission, and was an intern at Ogilvy and Mather.
"Phoenix is delighted to welcome both Jim
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