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Monomoy Capital Partners, a New York private equity fund, has signed a definitive agreement to sell its portfolio company Barjan, a distributor of consumer products to travel centres, truck stops and convenience stores, to TSC Global.
TSC Global specialises in the sales, marketing and distribution of consumer brand products to America’s top retailers, travel centres and truck stops.
Financial terms of the transaction were not disclosed.
“The sale of Barjan to TSC is a great example of the Monomoy investment strategy,” says Daniel Collin, partner at Monomoy Capital and chairman of the board of Barjan. “We acquired a distressed market
Octopus Investments has made an investment of GBP2m into UltraSoC Technologies, a provider of technology for embedded systems used in electronic applications from automotive to consumer products such as mobile phones.
The investment in UltraSoC represents the 22nd deal concluded by Octopus this year.
UltraSoC is developing UltraDebug, an advanced debugging technology for multiple processor systems that will be used to debug the application software that provides the functionality and performance in modern electronic systems.
UltraSoC was founded in 2006 by Dr Karl Heeks and Professor Klaus McDonald-Maier and spun out from the Universities of Kent and Essex
Intercos, a developer and subcontracter of beauty products for colour cosmetics companies, has agreed a financing platform of up to EUR50m, without voting rights, with subscription guaranteed by Intercos’ main shareholder, Dario Ferrari.
This agreement ensures financing for the 2010-2014 business development plan.
Eurazeo owns 25.1 per cent of Intercos’ capital through Euraleo and retains the option to subscribing its pro-rata share through the end of 2010.
In addition to the financing agreement, Intercos also renegotiated its debt with covenants adapted to the new business plan, and debt maturities extended up to 2016.
In 2010, Intercos recorded a
Compact Media Group, the independent rights administrator and distributor of royalties for TV, film and music, has secured GBP17m of investment from Lyceum Capital to drive the growth and development of the business.
Compact provides a broad range of collection and administration services which maximise royalty income for intellectual property rights owners such as producers, distributors, broadcasters, as well as government backed agencies and financial institutions.
The firm represents over 300 companies including BBC Worldwide, ITV Global Entertainment, Scottish Media Group, Fremantle Media, Channel 4, Discovery Communications, National Geographic, Icon, Echo Bridge and a number of the UK’s largest
LLR Partners, a middle market private equity firm with over USD1.4bn under management, has closed an investment in Lightspeed Financial, the proceeds of which will be used to finance the acquisition of Terra Nova Financial.
Lightspeed is a provider of direct market access trading technology, risk management solutions and brokerage services for institutional investors and professional retail active traders.
The acquisition brings Lightspeed’s total client base to more than 7,500 active traders executing an average of over 220 million equity shares per day with total client assets exceeding USD1.35bn.
“We are excited about our partnership with LLR and leveraging their
Riverlake Partners, a Portland-based private equity group focused on the lower middle market, has led a USD5m preferred round of funding for RPI.
The investment is being made through the company’s second fund, Riverlake Equity Partners II.
RPI, based in Seattle, specialises in automated manufacturing and fulfillment for the consumer make-on-demand printed products market.
RPI plans to use the additional funds to continue executing its growth plan.
Huntington Capital of San Diego, which provided USD5m of mezzanine financing to RPI in July, also participated in this round of preferred financing.
In conjunction with this investment, Riverlake partner Victor (Vic) G.
Law firm Howard Kennedy has advised Edge Performance VCT on its offer for subscription of up to 10,000,000 G shares at an issue price of GBP1.00 each with an over-allotment facility of up to, in aggregate, a further 20,000,000 G shares.
Edge is the first specialist VCT to target the entertainment sector and allows investors access to the sector whilst minimising the risks often associated with it.
Now in its fifth year, Edge has raised over GBP77m and is managed by Edge Investment Management, an entertainment fund manager.
Corporate partners Dov Katz and Keith Lassman led the latest transaction and
After nearly two years of subdued private equity activity, signs of movement can be detected. “Projects that have been in the pipeline for 12 months or more are now close to launching and fundraising,” says Kate Anderson (pictured), Associate at Voisin, the Jersey law firm.
While the industry waits for conventional fund launches to return, there is plenty of work for service providers in other areas. For a start, there has been a resurgence in commercial property transactions. “Funds investing in the UK property markets are buying in quite specific geographical areas: within the M25 belt, Glasgow, Edinburgh, Leeds and
By Phil Davis – Even the most cautious private equity professionals are starting to believe that the industry is poised to bounce back amid a number of indicators that dealmaking and fund launches are on the rise. According to Mergermarket, the value of global buyout deals totalled USD62.9bn in from July to September, the highest quarterly total since the second quarter of 2008, before the financial crisis struck in earnest.
In fact, private equity groups have seen year-on-year deal value increase for four consecutive quarters, and old hands such as Michael Queen, the chief executive of 3i, believe that dealmaking
By Simon Gray – Jersey-based service providers to the private equity sector and the broader alternative fund industry mostly describe themselves as ‘cautiously optimistic’ as they look forward to a long-awaited rebound in fundraising that may come early next year and a reduction in the number of new projects that fall by the wayside or are slow to crystallise because of caution among potential investors.
With the deadlock over the European Union’s controversial Directive on Alternative Investment Fund Managers apparently broken and the most potentially damaging aspects of the legislation for non-EU jurisdictions seemingly removed or mitigated, industry members believe
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