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Matrix Private Equity Partners, the small buyout specialist, has invested GBP5m in the management buyout of RDL, the European recruitment provider within the pharmaceutical, business intelligence and IT sectors.
The purchase comes amidst a crop of private equity takeovers in the recruitment sector, following a rebound in the jobs market as market confidence returns.
Matrix Private Equity Partners is taking a significant minority stake in the business.
Jonathan Gregory, who led the deal for Matrix Private Equity Partners, says: “There has been a flurry of M&A activity across the recruitment sector and the pharmaceutical and business intelligence markets have seen
GT Solar International, a provider of polysilicon production technology and sapphire and silicon crystalline growth systems and materials for the solar and LED markets, has entered into a definitive agreement to repurchase shares of common stock from GT Solar Holdings, whose members include all of the company’s private equity investors.
Under the terms of this agreement, GT Solar has agreed to purchase 26.5 million shares of its common stock at a price of approximately USD7.66 per share for a total purchase price of approximately USD203m.
The share repurchase is expected to close on or before 12 November 2010.
As a
PineBridge Investments has hired George R. Hornig as senior managing director and chief operating officer.
He will oversee the finance, operations, legal and compliance, technology, product development, and marketing and communications divisions.
Based in New York, will also serve on the firm’s executive committee.
“I am delighted that we have found someone of George’s calibre for this important position at PineBridge,” says Win J. Neuger, chief executive officer. “His ability to identify and execute business strategy solutions, in addition to his proven track record in managing the functional areas of large global asset management firms, will be a major driving
Darwin Ventures, a private equity firm focused on venture capital, has appointed Jay Bhatti as a general partner and Zach Heilman as lead engineering manager.
"Expanding the Darwin Ventures team with Jay and Zach will allow us to focus on new opportunities in the burgeoning New York City business environment," says Peter Freudenthal, managing general partner of Darwin Ventures. "We are very excited to have Jay aboard as our new partner and Zach as our lead engineering manager. We feel that their unique skill sets will allow us to expand our existing business interests in Manhattan."
Prior to Darwin, Bhatti
Offshore jurisdictions should join forces to lobby larger nations and international organisations on matters affecting them, according to members of the offshore financial services industry.
While there are obvious ways in which Jersey, Guernsey and the Cayman Islands are competitors, there are also issues of common interest, such as the European Union’s Directive on Alternative Investment Fund Managers and potential business synergies, according to speakers at a recent debate organised in Guernsey by international law firm Appleby that considered the relative strengths of the three jurisdictions as fund domiciles and service centres as well as possible avenues for co-operation.
Technology company Edwards saw its net sales rise by 75 per cent to USD257.3m for the three months ended 30 September 2010, up from USD147.3m in quarter three 2009.
Ebitda (IFRS) increased by 552 per cent to USD74.0m from USD11.0m the previous year.
Cash and cash equivalents increased to USD187m at 30 September 2010, an increase in cash in the quarter of USD35m.
Matthew Taylor, chief executive of Edwards, says: “We have successfully gained market share in 2010 driven by a clear customer and applications strategy utilising our new innovative dry pump and abatement products to target identified opportunities such
Doughty Hanson, a European private equity firm, is to acquire Vue Entertainment, a UK developer and operator of multiplex cinemas, from Cavendish Square Partners, affiliated investment funds of Och-Ziff Capital Management Group and the existing management team.
The Vue management team, including chief executive Tim Richards who established the company, will be reinvesting in the transaction.
Vue has the third largest market share in the UK in terms of box office via its 68 cinemas and 678 screens. The company also runs two cinemas internationally.
Vue recently announced that it will be working with Sony Digital Europe on the rollout
Insurance brokers Equity Risk Partners and Lipscomb & Cathey have formed a joint venture which will cater to the needs of the private equity space in Texas.
The new partnership, called ERP-Texas, will combine the niche expertise of San Francisco-based ERP with the longstanding reputation of Lipscomb & Cathey in the Dallas community.
Under the partnership, ERP and Lipscomb & Cathey will share resources with the intent to expand the scope of their respective businesses and capitalise on the recent uptick in private equity and M&A activity in Texas.
Ronnie Cathey of Lipscomb & Cathey says: “This initiative brings together
Palladium Equity Partners, a private equity firm based in New York, has sold Castro Cheese to Dairy Farmers of America.
Terms were not disclosed.
Castro Cheese is a manufacturer, marketer and distributor of queso fresco and other varieties of Hispanic cheeses and creams. The company’s products are marketed under the brand "La Vaquita" in Texas and other southwestern states.
"We are thrilled with the successful outcome of the Castro Cheese transaction," says Luis Zaldivar, managing director of Palladium. "Since the acquisition in August 2007, Castro Cheese has successfully targeted major retailers such as H.E.B., Wal-Mart, Fiesta Mart, Kroger and Costco,
The public consultation on the reform of CDC, the UK owned development finance institution, has begun.
The consultation, announced by the Secretary of State for International Development Andrew Mitchell, will enable interested parties to submit evidence based ideas via an online survey on which approaches CDC should focus on to maximise its development impact, and how it can best catalyse private investment.
The reformed CDC will resume direct investments and have a wider range of financial tools at its disposal, such as debt, equity and guarantees.
CDC will invest in countries, regions and sectors where the private sector is reluctant
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