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Private equity firm Advent International has acquired BOS Solutions, a provider of drilling fluid treatment and recovery solutions to oil and gas exploration and production companies.
Along with the acquisition of equity from existing shareholders, Advent has also provided BOS with access to the necessary capital to execute on its growth and expansion strategy.
The current BOS management team, led by president and chief executive officer Glenn Leroux, will retain a significant ownership interest in and continue to lead BOS.
Founded in 2001, BOS has operations in most major North American oil and gas regions.
"Advent’s investment comes at an
National Fostering Agency Partnerships, a company backed by Sovereign Capital, has acquired Jay Fostering, the group’s fifth acquisition.
Sovereign Capital led the institutional buy-out of NFA in December 2006.
Since then, Sovereign has backed the bolt-on acquisitions of five companies including The Foster Care Agency, Alliance Fostering, Child First Fostering Agency and Alpha Plus Fostering.
Jay is a Leicestershire-based independent fostering agency. Established in 2003 by Joy Berry, a social work director, and her son Richard Berry, Jay has grown in the past three years expanding geographically into the West Midlands and opening a satellite office in Castle Donnington, Derbyshire.
Climate Energy has acquired Suffolk based Solutions 4 Energy for an undisclosed sum, in a bid to expand its portfolio and strengthen its own market position.
Climate Energy says the acquisition will allow it to create a more robust business in order to weather future changes in funding availability and improve its geographical reach.
Climate Energy managing director Andrew Holmes says: “We are delighted to be purchasing a business which has at its core, a responsibility to reduce carbon emissions. We saw this as an opportunity to further consolidate our position in a very exciting but volatile sector. This acquisition
With the exception of the 20-year return which increased modestly, venture capital performance declined across most time horizons as of the end of the second quarter of 2010, according to the Cambridge Associates US Venture Capital Index, the performance benchmark of the National Venture Capital Association.
While the deterioration was mild, it reflected ongoing challenges in today’s venture-backed exit market which continued to struggle to recover from the financial crisis of 2008.
Still venture capital performance surpassed the public market indices for the quarter, three, five, 15 and 20-year time horizons.
"While we have seen increased exit volumes in 2010,
Ailant Finance’s private wealth management division plans to launch a private equity fund which so far has USD100m in seed investment committed.
The official marketing period of the natural resources-focused fund will begin in December and last six to eight months, or until it has hit its targeted maximum capital commitment.
Ailant Finance private wealth management manages about USD550m for a client base of family offices and high net worth individuals.
"We manage our funds within a disciplined risk management framework that has predetermined limits on the percentage of privates that can be held in a fund," Ferdinand Aracon, the
Competitive Companies is entering into an equity line financing facility in the amount of USD10m with Dutchess Opportunity Cayman Fund.
During the 36-month term of the equity line facility, Dutchess will be required at the option of CCI to purchase up to USD10m of CCI common stock.
Each drawdown will be priced based on the then-current stock price in accordance with an agreed-upon formula.
CCI will control the timing and amount of any share sales to Dutchess.
In accordance with SEC regulations, CCI will file an S-1 Registration allowing for the selling of the shares to Dutchess.
William H. Gray,
Emerging Capital Partners, a private equity group focused on Africa, has appointed former World Bank executive Marie-France Mathes as managing director and head of investor relations.
Mathes will lead efforts to strengthen communications with ECP limited partners.
The firm looks toward a range of potential acquisitions from its third USD613m pan-African fund, the largest private equity fund ever raised for growth equity investing across Africa. ECP also expects to exit a number of current investments made from prior funds.
"This appointment highlights ECP’s unequivocal commitment to communicating with investors," says Hurley Doddy, co-chief executive of ECP. "Marie-France is a private
Conor Houlihan (pictured), a partner with law firm Dillon Eustace in Dublin, says Ireland’s National Asset Management Agency scheme to acquire distressed assets from five Irish banks highlights not only opportunities for international investors in the country’s domestic market but the longstanding use of Irish vehicles to structure distressed acquisitions around the world since the 1990s.
Ireland’s well-documented property-fuelled boom has come to a crashing halt, leaving billions of euros of distressed assets on the loan books of the major Irish banks. As a result, Ireland is becoming a focal point for buyout and distressed investment activity with individual assets
Guernsey’s fund industry is seeking a foothold in India by providing services not available locally, following a weeklong visit to the country by representatives of the island’s financial services sector.
A number of Indian-based fund promoters are in the process of launching Guernsey-domiciled, London-listed closed-ended investment funds, according to Joe Truelove (pictured), head of Channel Islands business development for Kleinwort Benson’s corporate fiduciary division and chairman of the marketing committee of the Guernsey Investment Funds Association.
“Mauritius and Singapore both benefit from having double taxation treaties with India, which is why one of these jurisdictions is nearly always used for
Dow Jones Indexes, an index provider and CME Group company, has launched the Dow Jones US Venture Capital Index, designed to measure changes in the market value of venture capital-financed companies in the US.
The index has been licensed to Chicago Alternative Investment Partners to serve as a basis for financial products.
"This index tracks an asset class that has not been readily available before to the general public," says Michael A. Petronella, president, Dow Jones Indexes. "By publishing this index, we intend to shed light on this dynamic market and offer investors access to information in this important segment
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