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Hogan Lovells has acted as acquisition counsel to Survitec Group, a provider of safety and survival equipment, on the leveraged buyout of Revere Commercial Marine Business from Revere Supply to expand its presence in the US.
Survitec was acquired by private equity firm Warburg Pincus earlier this year.
The acquisition of Revere is designed to strengthen Survitec’s position in the marine, defence and aerospace safety markets.
Alan Greenough, co-head of private equity at Hogan Lovells, says: “We are delighted to have acted for the Survitec Group on this deal, which demonstrates private equity’s ability to support the growth of
KKR, TPG, Government of Singapore Investment Corporation and The Great Eastern Life Assurance Company have received all required regulatory approvals for the purchase of Morgan Stanley’s stake in China International Capital Corporation.
Li Jiange, chairman of CICC, says: "This year is CICC’s 15th anniversary. The change in our shareholding will have a very positive strategic impact on CICC and benefit its long-term development. We introduced new shareholders while also receiving additional investment from GIC, our long-time existing shareholder. Both demonstrate the investors’ recognition of CICC’s achievements in the past 15 years and full confidence in CICC’s long term growth prospects.
Infinity Group, a specialist in cross border China, RMB and dollar private equity funds, has led a USD14.3m investment in THT Heat Transfer Technology at a pre-money valuation of USD51.2m (USD3.20 per share), with an investment of USD9.0m.
MC Capital, Zhejiang Jinqiao and other investors also participated in the securities purchase agreement, which THT entered into on 2 November 2010.
Headquartered in Jilin Province, China, THT designs, manufactures and sells plate heat exchangers, shell-and-tube heat exchangers, heat exchanger units and other heat exchanger products. THT’s products focus on energy conservation, carbon emission reduction and other environmentally friendly applications.
THT has
Law firm Speechly Bircham has advised on the launch of a new private equity backed PR consultancy, Stockwell Group.
Speechlys worked with Iceni Capital, an investor in UK business service companies, and key communications industry players.
The new firm brings together Philip Gawith, ex chief executive of Maitland, Tim Burt, partner at Brunswick, and Nick Boakes, ex head of comms at Friends Provident.
Julian Hanson-Smith of Iceni Capital will chair Stockwell.
Stockwell will focus on strategic corporate communications and reputation management in the communications environment.
Hanson-Smith says: “Reputation risk has clearly moved up the boardroom agenda in recent years.
Krokus’ country fund for Poland, Nova Polonia Natexis II, has acquired 55 per cent of the shares in Catermed via a capital increase.
Catermed is the largest independently owned Polish company specialising in catering for hospitals.
Catermed offers catering to hospitals and other healthcare units as well as for community centres, schools, kindergartens and other institutions. The company operates through a network of kitchens in the south of Poland.
In 2010 Catermed also opened its first old peoples’ home "Beatus” in Krakow.
"The catering sector in Poland is still very fragmented and continues to grow dynamically. Catermed has a solid
DN Capital, a media and technology early stage and growth capital investor, has led a first round of investment in Performance Horizon Group, an online performance marketing technology provider.
Performance Horizon Group is founded by a team of entrepreneurs in the online performance marketing space. The team contains two of the founders of the buy.at affiliate network, Malcolm Cowley and Paul Fellows, which sold to AOL for USD125m in 2008.
Performance Horizon Group is developing a number of performance marketing technologies in the fields of affiliate marketing, email marketing and lead generation. It is currently live with Leadsbox, a lead
ITV has secured an asset based finance facility with Lloyds TSB Commercial Finance, which allows the broadcaster to draw up to GBP125m over a five year period.
This follows ITV’s recently announced nine month figures, where group revenues were up 11 per cent to GBP1,456m on 2009.
The asset based finance funding line coincides with ITV’s new five year transformation plan and will provide the company with funding as it embarks on this strategy.
Terence Powell, director business development at Lloyds TSB Commercial Finance, who led the deal, says: "We have been pleased to closely work with ITV
Octopus Investments has made an investment of GBP2m into Diverse Energy, a company that builds low-cost, low-carbon power generators for off-grid telecommunications applications.
Diverse Energy builds an emission-free, low-cost power solution for mobile phone communication towers in rural areas of developing countries.
It has developed the PowerCube, a standalone replacement for the polluting diesel generators currently used as remote power supplies for mobile phone towers where electricity is not available. It delivers power with low fuel and maintenance costs, thus offering a 25 per cent reduction in total cost of ownership with a two-year payback.
Diverse Energy, based in
Law firm DLA Piper has appointed David H. Lee, Robert C. Davis and Fred W. Blakeslee II to its private equity practice as partners in the Chicago office.
The group joins the firm from Mayer Brown.
Representing private equity funds, as well as public and private companies, the team focuses on handling business transactions around the globe which involve private equity investments.
“David, Rob and Fred have developed a high-profile private equity practice which includes significant experience handling transactions in the US and Asia, as well as a variety of other regions around the globe,” says Steve Napolitano, chair of
Fund administrator HSBC Securities Services (Guernsey) has appointed Amit Taylor as a managing director.
Taylor, a Chartered Accountant, was previously European head of sales for asset managers in London.
Before joining HSBC, Taylor held several roles within PricewaterhouseCoopers, where he helped to build its investment management consultancy business in the UK and was manager in the investment management division of the audit and assurance practice.
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