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Arsenal Capital Partners, a New York-based private equity firm, has acquired Royal Adhesives & Sealants from Quad-C Management.
Headquartered in South Bend, Indiana, Royal offers a range of products designed to solve complex bonding, laminating and sealing applications across a range of markets including aerospace and defence, construction, specialty packaging, automotive and industrial.
John Televantos, a partner at Arsenal Capital, says: "Royal has industry-leading capabilities that provide proprietary, value-added solutions for its customers. We are impressed by the accomplishments of the Royal team and we look forward to working with management to continue the company’s focus on customer service and
Actis, a private equity investor in the emerging markets, has promoted four directors to partner: Mumbai-based Sanjiv Aggarwal and Shomik Mukherjee, and Beijing-based Tao Sun and Dong Zhong.
Paul Fletcher, senior partner at Actis, says: "These promotions acknowledge the significant contribution these individuals have made to the firm and their instinctive grasp of the core values of Actis. We are privileged to welcome Sanjiv, Shomik, Tao and Dong to the partnership."
Aggarwal is responsible for Actis’s infrastructure business in South Asia. He joined Actis’s India team in 2008 from Citigroup, where he worked extensively in the Indian infrastructure sector. He
HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange, has reported an estimated economic net asset value of USD776.1m or USD9.35 per share as of 31 October, a 3.5 per cent increase from the 31 July economic NAV of USD749.6m or USD9.03 per share.
This change during the interim period primarily resulted from increases in the value of publicly-held securities, increases in the value of privately-held companies in HarbourVest fund of funds as the portfolio was partially re-valued to reflect 30 September 2010 valuations, and positive foreign
Cenveo, a manager and distributor of print products and solutions, has acquired Impaxx, the sole owner of Gilbreth Packaging Solutions, from affiliates of Aurora Capital Group, a Los Angeles private equity firm.
Gilbreth operates a facility in Pennsylvania and has approximately 75 employees.
It uses multiple printing technologies as a full-service manufacturer and marketer of full body shrink sleeves, tamper evident neck bands and medical and electronic tubing.
Gilbreth’s customer base includes a number of blue chip consumer product companies.
The terms of the transaction were not disclosed.
Robert G. Burton, Sr., Cenveo chairman and chief executive officer, says: "The
Apollo Global Management has appointed Marc Spilker as president, effective 1 December 2010.
Spilker will run the day to day operations of Apollo and sit on the company’s executive committee.
In addition to Spilker, Apollo’s executive committee includes: Leon Black, chairman and chief executive officer; Josh Harris, senior managing director; Marc Rowan, senior managing director; and Henry Silverman, vice chairman and chief operating officer.
Black says: "We are excited to welcome Marc as president of Apollo and believe we will benefit from his deep experience in the financial industry. His successful career at Goldman Sachs and his extensive knowledge of
Rockley Group, the technology funding group led by Andrew and Robert Rickman, is expanding its Rockley China Fund to USD200m following an agreement with the Shanxi Small and Medium Enterprise Investment Corporation, the high technology venture fund that is owned by the Shanxi provincial government.
SSMEIC and Rockley have agreed to raise a USD100m fund – Shanxi Zhongying Rockley – and work together on a new initiative to further develop the enterprise environment in Shanxi Province, China’s leading coal mining region.
Shanxi’s GDP is USD100bn and the province produces 25 per cent of China’s coal and 40 per cent of
Harvest Partners, a New York-based private equity firm, has completed the acquisition of Bartlett Holdings, d.b.a. BHI Energy, from Berkshire Partners and Summit Partners.
BHI Energy is an energy services company which supports the daily operations, routine maintenance and capital investment requirements of nuclear, fossil and renewable power facilities, as well as government decommissioning projects.
BHI Energy’s services include radiation protection, professional and technical staff augmentation and specialty maintenance.
Financial terms of the transaction were not disclosed.
Robert Decensi, BHI Energy’s chief executive officer, says: “The acquisition by Harvest is a transaction that will allow BHI Energy further expansion and
Audley Capital, as investment adviser to the activist Audley European Opportunities Fund, has increased its holding of shares in AIM-listed Sable Mining Africa, a resource company focused on mining assets in sub-Saharan Africa.
Audley’s move, which takes its holding in Sable Mining to some 4.1 per cent or 38,280,000 shares, comes on the back of last week’s announcement of substantial gains achieved by the fund from a major holding in Western Coal, now the subject of a takeover bid from Walter Energy.
Audley European Opportunities Fund was recently re-opened to investors and the enhanced holding in Sable Mining is the
Citadel Capital, a private equity firm in the Middle East and Africa, has reported a 7.1 per cent rise in total assets under management to USD4.0bn (EGP23bn) for the third quarter of 2010 as it recognised USD265.4m in new equity raised year-to-date.
Third-party fee-earning AUM rose 6.0 per cent to USD2.0bn in the same period.
The USD265.4m in new AUM includes USD140m for the MENA and Africa Joint Investment Funds and USD100m in financing from the US Overseas Private Investment Corporation.
“With the start of operations at six greenfields so far this year, USD2.6bn in debt signed for
ABB has invested about USD13m in Aquamarine Power, a Scottish company that has developed technology to convert energy captured from waves near shore into clean, usable electricity.
ABB Technology Ventures, the company’s venture capital arm, made the investment in a funding round that also included a USD4.8m investment from SSE Venture Capital, the venture capital unit of Scottish and Southern Energy, and other investors.
The investment gives ABB access to another renewable energy technology and provides an entry into the emerging marine energy market.
Aquamarine’s Oyster wave power device consists of a hinged mechanical flap connected to the nearshore seabed
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