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KRG Capital Partners, a Denver-based private equity firm, has completed the acquisition of Consolidated Equipment Parts and its wholly owned subsidiaries, Consolidated Commercial Controls d/b/a AllPoints Foodservice Parts & Supplies and Tundra Specialties from Pfingsten Partners.
AllPoints is a distributor of maintenance, repair and operation (MRO) parts, supplies and equipment to the foodservice industry.
AllPoints is the ninth platform company for KRG’s USD1.96bn Fund IV and represents KRG’s third platform investment in the business services and distribution market.
"We are excited to partner with the AllPoints team,” says Ted Nark, managing director of KRG Capital. "We believe the AllPoints platform
Black Pearl Capital Partners has added another UK renewable energy site to its UK portfolio in Bromborough, Wirral.
The site consists of 46 acres with facilities for bio-diesel refining, blending, processing as well as storage.
"Today’s purchase comes on the heels of another renewable energy site we acquired in Castleford, Yorkshire. It allows us to continue an investment strategy in waste processing, waste-to-energy and renewable energy sectors," says Reza Irani-Kermani, chief executive of Black Pearl Capital. "We expect the site to be operational by mid-2011 thereby creating new employment opportunities in the region."
The plant is currently capable of processing
European private equity firm Cinven has made two appointments to its portfolio support team.
Immo Rupf has been appointed as an operating partner in London and Ivan Kwok has been appointed as a principal in Hong Kong.
Based in London, Rupf will focus on growing and improving Cinven’s portfolio companies, working in conjunction with both the Cinven sector teams and the board of each company. He will also work closely with Cinven’s portfolio support team in Asia, seeking to add value to portfolio companies exploiting opportunities in that region as well as in emerging Europe.
Rupf joins Cinven from
The Gym Group, a UK low-cost gym operator, has secured GBP20m to fund its expansion plans.
Financial backing for the growth strategy consists of further incremental commitments from lead investor Bridges Ventures and a revolving credit facility from HSBC.
Chief executive John Treharne says: “Prevailing economic conditions mean that for many businesses access to new sources of funding remains limited. Our ability to secure substantial financial backing from such respected finance providers at a time when capital is so constrained is testament to the robustness of The Gym’s business model and our continued delivery against its objectives.
“This funding will
Alternative asset manager The Carlyle Group has agreed to purchase a 55 per cent stake in Claren Road, a long-short credit hedge fund with USD4.5bn in assets under management, in exchange for cash, an ownership interest in Carlyle and performance-based contingent payments.
Claren Road founders will reinvest substantially all of the initial cash proceeds from the transaction back into Claren Road funds.
Terms of the transaction, which is expected to close by year end, were not disclosed.
Mitch Petrick, managing director and head of Carlyle’s global credit alternatives business, says: “Claren Road has a track record of consistent,
Law firm Nabarro & Hinge has advised Syntagma Capital, a private Belgian investment firm, on the acquisition of Tyco International’s fire and safety entities in Denmark, Finland, Greece, Hungary and Sweden.
Tyco International is a provider of electronic security products and services.
The sold entities of the fire and safety division of Tyco International generate an approximate turnover of EUR42m annually and employ over 345 staff across five countries.
The entities specialise in the supply, installation and maintenance of security products, as well as fire detection and monitoring products.
FleetMatics, a provider of GPS tracking applications for commercial fleets, has closed a USD68m growth equity financing.
Institutional Venture Partners invested with Investcorp Technology Partners, FleetMatics’ majority owner.
New World Ventures also participated as a new investor.
Over 12,500 businesses globally use the FleetMatics tracking system.
In conjunction with the financing, IVP’s general partner Sandy Miller has joined the FleetMatics board of directors.
“We are very pleased to welcome FleetMatics to IVP’s portfolio of exceptional technology companies," says Miller. “FleetMatics is a rapidly growing, profitable business that has tremendous growth potential and I am looking forward to working
Lloyds Bank Corporate Markets Acquisition Finance has provided a senior debt facility to support Sovereign Capital’s acquisition of The IMS Consulting Group, a provider of consulting and integrated business support to the wholesale asset management and securities industry.
The acquisition finance team acted as sole mandated lead arranger for the transaction, which saw Sovereign Capital take a majority stake in the business.
Lloyds Bank will also provide full clearing and hedging services to IMS.
Founded in 1997, IMS’ core offering is compliance consultancy to UK regulated financial services firms. It also provides related services such as due diligence, compliance
Dunedin, a UK mid-market private equity firm, has provided acquisition funding to support the ongoing buy and build strategy of CitySprint, a UK distribution network.
The deal sees Dunedin employ its trademark DebtBridge product and is Dunedin’s second deal in five months from its GBP250m fund, following the management buyout of Weldex.
CitySprint has a national network of 31 service centres. Turnover has grown through the recession from GBP46m in 2007 to a forecast GBP61m year ended December 2010.
Shaun Middleton, managing director, new investment at Dunedin, says: “CitySprint is the market leading business in the same day
Standard Life European Private Equity Trust’s undiluted net asset value per ordinary share rose by 18.4 per cent to 195.3p at 30 September 2010 (diluted NAV – 193.3p), from 164.9p at 30 September 2009 (diluted NAV – 163.4p).
The company can now report five consecutive quarterly increases in NAV.
The 30.4p rise in NAV during the year comprised 3.4p of net realised gains and income from the company’s portfolio of 39 private equity fund interests, 37.5p of net unrealised gains on the portfolio on a constant exchange rate basis, 7.8p of negative foreign exchange rate movements on the portfolio and
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