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Ergon Capital Partners III has reached an agreement with the shareholders of ELITech Group to become a majority shareholder.
ELITech Group will be acquired by a newly incorporated company controlled by Ergon, alongside the founders Financière du Bief and Biotech International, the historical financial investors BNP Paribas Développement, Idia Participations, Naxicap and Synergie Finance, and management.
With six manufacturing sites in France, the US, the Netherlands and Italy and 14 subsidiaries, ELITech Group is a manufacturer and distributor of in vitro diagnostic equipment, tests and reagents focused on small to medium-sized, proximity and emergency diagnostic laboratories. The group is currently
Bank of Ireland Corporate Banking has part-financed the acquisition, through the provision of USD91.5m senior debt facilities, of a majority shareholding in Creganna-Tactx by the Permira Funds.
Headquartered in Galway, Ireland, Creganna-Tactx Medical supplies products, technologies and services to medical device and life science companies. It specialises in the design and manufacturing of delivery devices for minimally and less invasive therapies.
Creganna-Tactx Medical employs approximately 1,000 people worldwide and has manufacturing sites in Ireland, US, Singapore and Korea.
Bank of Ireland has worked closely with Creganna-Tactx Medical from its inception as a start up company, supporting the company through
The Hong Kong office of law firm Eversheds has appointed former Baker & McKenzie special counsel Stephen Chan as a partner in its corporate practice.
Chan, who has spent more than 12 years with Baker & Mckenzie, specialises in M&A and joint ventures as well as corporate and financing transactions.
He has particular expertise in the technology, media and telecommunications and energy, mining and infrastructure sectors. He has also advised various clients in the venture capital and private equity sector.
In his role at Eversheds Chan will be focussing on both inbound and outbound cross-border M&A transactions, joint ventures, corporate
Qype, a user-generated local review site in Europe, has raised EUR3.5m from Vodafone Ventures and a further EUR3.0m from its existing three investors, Advent Venture Partners, Partech International and Wellington Partners.
Launched in March 2006, Qype’s communication platform is Europe’s largest site for user-generated reviews and recommendations of places, events and experiences.
Qype covers more than 158,000 European towns and cities and has 17 million unique visitors per month.
The additional funds will be used to develop Qype’s mobile business. Its mobile application Qype Mobile was first launched for the iPhone in January 2009, followed by versions for Android and
The OzForex Group, an online foreign exchange payments platform operating under the OzForex, UKForex, CanadianForex and NZForex country brands, has received a minority growth investment from Accel Partners and The Carlyle Group.
The funds will help accelerate OzForex’s expansion into North America, Europe and Asia, as well as the development of complementary product and service offerings.
Under the arrangement, representatives from both Accel Partners and The Carlyle Group will serve on the OzForex board of directors.
The transaction closed on 19 November. Financial details were not disclosed.
The company’s founders and Macquarie Private Wealth, which is part of Macquarie Group,
Riverside Partners, a Boston-based private equity firm, has invested USD34m into Welocalize, which specialises in content translation, localisation and internationalisation of web based content.
Welocalize was founded in 1997 and is based in Frederick, Maryland.
With over 400 employees in nine offices located in the US, Ireland, Germany, China and Japan, Welocalize provides translation supply chain management that delivers market-ready, translated content.
Welocalize’s translation supply chain management solutions are driven by GlobalSight, a collaborative, open-source translation management system.
Riverside Partners’ investment will be used to support the company’s growth initiatives including investment in the company’s technology systems and potential add-on
Beauty company Coty has agreed to acquire skincare and cosmetics company philosophy from The Carlyle Group, an alternative asset manager.
The acquisition of philosophy will allow Coty to further strengthen and expand its Coty Prestige division, which will manage the philosophy portfolio.
philosophy is a beauty brand focused on skincare, with a presence in fragrance, bath and body and colour cosmetics.
“philosophy is one of the beauty industry’s most prestigious brands and a fantastic addition to the Coty family,” says Bernd Beetz, chief executive of Coty. “This acquisition will allow Coty to strengthen its presence in the skincare category,
Financial Services Partners Fund I has invested USD11m in FirstAtlantic Financial Holdings and its wholly owned subsidiary FirstAtlantic Bank, located in Jacksonville, Florida.
The stock purchase agreement between the companies was originally executed on 11 June 2010, to enable this initial purchase of USD11m in common shares, and potentially up to USD25m over time, not to exceed 24.9 per cent ownership in the bank.
Hovde Private Equity Advisors, the fund’s investment manager, served as the lead investor in an equity offering by the bank to existing shareholders and other local investors. In connection with this transaction, Joseph J. Thomas, managing
IK Investment Partners intends to sell Welzorg, a distributor of mobility aids for elderly and disabled people in the Netherlands, Denmark, and Sweden, to the Louwman Group.
Financials for the transaction were not disclosed.
Welzorg’s business consists primarily of the sale, long-term rental and maintenance of manual and powered wheelchairs and scooters. The company delivers these mobility aids directly to the end-users and provides the necessary after-sales service.
Welzorg’s main customers are municipalities and healthcare institutions. It has a staff of approximately 1000 employees, and in 2010, the company estimates its consolidated sales will be EUR186m.
The company was acquired
Alternative asset manager The Carlyle Group has sold Britax Childcare, a manufacturer of children’s car safety seats, to Nordic Capital.
Financial details of the transaction were not disclosed.
Carlyle Europe Partners acquired Britax Childcare from Britax International in October 2005 and focused on the growth of the business through expansion into new markets and diversification of the product range.
Carlyle facilitated the company’s development into new geographies, especially in emerging markets, and enhanced its online presence.
Carlyle has invested to develop new products, including the company’s launch into wheeled goods and travel systems. Earnings have more than doubled under
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