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Catterton Partners, a consumer-focused private equity firm in North America, has sold a controlling stake in its portfolio company Heartland Recreational Vehicles, a manufacturer of towable recreational vehicles, to Thor Industries for a total consideration in excess of USD200m in cash and stock.
Since partnering with the Heartland founders in early 2007, Catterton has worked with the Heartland management team to enable the company to become the fourth largest manufacturer of towable recreational vehicles in the US, up from the 12th position at the time of its investment.
Over this period, Heartland has quadrupled its sales, earnings and market share
Yorkville Advisors, the US based alternative investment manager, has entered on behalf of one of its funds into a debt facility of USD1.2m with AIM-listed Red Rock Resources, a gold mining and exploration company.
This latest debt facility represents the third debt financing for Red Rock Resource.
From the provision in April 2009 of the initial standby equity distribution agreement transaction with Red Rock Resource, Yorkville has subsequently provided three debt facilities to the company of GBP400,000 in Oct 2009, USD1.6m in March 2010 and now this latest USD1.2m debt facility.
Brian Kinane, managing director of Yorkville Advisors UK,
Investment funds advised by CVC Capital Partners are to acquire TDC’s Swiss subsidiary Sunrise Communications.
The transaction values Sunrise, a privately held telecommunications provider, at an enterprise value of CHF3.3bn.
TDC, a provider of communications solutions in Denmark, held Sunrise for nearly ten years.
The completion of this transaction is expected to occur in the fourth quarter of 2010, once approvals have been obtained from the Swiss competition and relevant regulatory authorities.
Henrik Poulsen (pictured), TDC chief executive, says: “"Sunrise has gone through a very positive development in recent years. This is reflected in the deal we
Eze Castle Integration, a provider of IT services, consulting and technology to hedge funds and alternative investment management firms, has surpassed 30 applications in its hosted infrastructure.
Eze Castle Integration, a provider of IT services, consulting and technology to hedge funds and alternative investment management firms, has surpassed 30 applications in its hosted infrastructure.
The company has also been named a recommended hosting provider for Convergex Group’s Eze OMS, an order management system.
Eze Cloud was custom built for the alternative investment market and has supported more than 30 critical business applications, including Eze OMS.
As a recommended infrastructure provider
DLA Piper has advised a group of six lenders on their provision of senior debt funding for Montagu Private Equity’s GBP222m acquisition of web services company Host Europe Group from AIM-listed firm Oakley Capital.
DLA Piper has advised a group of six lenders on their provision of senior debt funding for Montagu Private Equity’s GBP222m acquisition of web services company Host Europe Group from AIM-listed firm Oakley Capital.
The lenders are HSBC Bank, Lloyds Banking Group, Clydesdale Bank, Commerzbank Aktiengesellschaft, IKB Deutsche Industriebank and Société Générale (London branch).
Completion of the acquisition is conditional on approval from Germany’s Federal Cartel
Channel Islands law firm Carey Olsen has appointed James Mulholland as a partner.
Mulholland will be working in Carey Olsen’s Jersey and London offices in the corporate and funds practice areas.
He most recently worked at O’Melveny & Myers in London for five years where he advised on an extensive range of corporate and private equity-related transactions, including fund formation, spin outs, fund restructurings, capital markets and mergers and acquisitions.
He previously worked at Slaughter and May, where he advised on both corporate and investment fund transactions.
Mulholland says: “I have known and worked with Carey Olsen for some time
Goldman Sachs’ Urban Investment Group has committed USD23m to a new fund sponsored by Jonathan Rose Companies’ investment practice.
The fund, Rose New Jersey Green Affordable Housing Preservation Fund, will acquire existing, CRA-eligible affordable housing in mass-transit accessible locations throughout New Jersey, with a focus on Hudson and Essex Counties.
The fund will improve assets through a “green” capital improvement and operations programme, seeking to replicate the success of 107-145 West 135th Street in Harlem, New York, a portfolio asset of the Rose Smart Growth Investment Fund which has become a model for the greening and preservation of affordable housing.
Crosslink Capital, a venture capital and growth equity firm, has appointed Eric Chin as partner.
Chin was most recently a general partner at Bay Partners.
At Crosslink, Chin will focus on internet, software and technology startups, investing in early stage and later stage companies.
Chin began his venture capital career in 1993 at Highland Capital Partners. He then co-founded internet server software company WebSpective in 1996 (acquired by Inktomi), and TelASIC in 2002, a Raytheon spinout which was acquired by Microelectronics Technology.
"We are most pleased to have Eric join Crosslink," says Michael Stark, founder and partner at Crosslink Capital.
Intel Capital has provided additional funding for Mall.cz, operated by one of its portfolio companies in the Central Eastern European region.
Intel Capital and MCI, a Polish investor, have each made a EUR5m investment into Mall.cz’s holding company, Netretail Holding.
Ondra Tomek also invested EUR1m in the company in a separate investment.
Mall.cz is located in the Czech Republic with Netretail Holding also having operations in Poland, Hungary, Slovakia and Germany. The group currently runs localised ecommerce shops in the region with 600 product categories, from consumer electronics to sporting equipment. Mall.cz has more than 1,000,000 registered customers and a
Morgan Stanley Private Equity will make a majority equity investment in the group of Trinity companies, including Trinity Pipeline and Trinity CO2 Supply, through a newly formed company called Trinity CO2 Investments.
Terms of the transaction were not disclosed.
Trinity transports and supplies CO2 to oil fields undergoing enhanced oil recovery operations in the Permian Basin of West Texas and southeastern New Mexico. The company currently owns and operates over 200 miles of pipeline on its Llano and West Texas systems.
Trinity was founded in 2000 by president and chief executive officer Barry F. Petty. Robert Kincaid is joining the
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