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Artificial sausage case producer Kalle – backed in 2009 by European private equity firm Silverfleet Capital in EUR212.5 million deal – has acquired Jif-Pak Inc a US based producer of innovative meat nettings and casings in a transaction funded entirely by existing cash and a new debt facility.
"The acquisition of Jif-Pak broadens Kalle’s product range and significantly increases the scale of its operations’ in the USA," says Guido May (pictured), the partner at Silverfleet Capital responsible for Kalle. "Through buy and build Kalle is consolidating its position as the most innovative casing and netting manufacturer in the world. The
Despite an increase in average costs, a unanimous rise in business volumes and a robust increase in fee, commission & premium income meant that investment management profitability grew strongly for the sixth consecutive quarter, according to the latex CBI/PwC Financial Services Survey.
However, the survey, which asked participants how their business volumes fared in the three months to December, found that plans for capital spending in the year ahead have generally weakened; in particular, investment managers plan to authorise less spending on IT relative to the past year, for the first time since June 2009.
Optimism in securities trading rose
A GBP185 million business growth fund was launched in December to help small and medium-sized enterprises across the North West of England.
The North West Fund, formerly known as the Venture Capital and Loan Fund, is the largest public sector fund in the UK and will be used to develop and support growth-oriented enterprise in the region. The Evergreen Fund is expected to generate 14,000 new jobs and an estimated GBP700m Gross Value Added (GVA) for the region.
The North West Fund will provide debt, equity and quasi-equity to local SMEs, making investments of up to GBP2m into fast
Aureos Latin America Fund has acquired a 40% interest in Peru’s leading tour operator company, Condor Travel S.A.C. as part of a management buyout in which Sammy Niego, CEO of the company, has increased his participation to 51%.
This landmark transaction in the Peruvian market is the Aureos Latin America Fund’s tenth investment in Latin America and its second in Peru.
The Aureos Latin America Fund is an initiative of Aureos Capital, a private equity fund management company specializing in investing in small and medium sized businesses in emerging markets.
With 34 years of operations, Condor Travel is
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
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