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Private equity firm Doughty Hanson is to acquire Equity Trust, a provider business administration and fiduciary services, for a total consideration of EUR350m from Candover and other institutional shareholders.
The existing senior management team will invest alongside Doughty Hanson.
Equity Trust provides administrative services to organisations worldwide, including secretarial and legal administration services; structured finance solutions; fund administration; complex private client administration; and book keeping and accounting.
The business employs more than 1,200 people in more than 40 offices around the world, and services more than 14,000 client entities.
Mark Corbidge, co‐head of private equity at Doughty Hanson, says: “The
Highlander Partners, a Dallas-based investment firm, and Flexpoint Ford, a private equity firm dedicated to the healthcare and financial services sectors, have completed the acquisition of Eagle Hospital Physicians.
Eagle is a practice management company providing hospitalist contract services, telemedicine and hospitalist temporary staffing to its hospital partners, primarily in the US Southeast and Mid-Atlantic regions.
Highlander and Flexpoint are joined in the transaction by Health Enterprise Partners. Highlander Partners, Flexpoint Ford and HEP have committed substantial additional capital to support future growth initiatives of the company.
Eagle Hospital Physicians has named Brent McCarty, a seasoned executive with over 20
Key Principal Partners, a USD1bn private investment firm, has sold its shares in Clover Technologies Group, which recycles and remanufactures laser toner and inkjet cartridges.
Clover sells its products under its own brand names as well as under the private label brands of several large retail and business-to-business office product dealer customers.
Key Principal Partners led a USD26m minority common equity investment in Clover that was initiated in June 2006. During its investment period, Clover doubled in size to annual revenues of over USD400m.
The company was sold to a group comprised of Golden Gate Capital and management.
Eden Ventures has made five investments in early stage European technology companies, with amounts ranging in size from GBP100,000 to GBP1m.
The new investments are:
Brightpearl: a Cloud-based (SaaS) business solution to manage leads, customers, sales, products, suppliers, website and finances in a single online service for SMEs. Eden has invested alongside Notion Capital and other shareholders include Doug Richards (Dragons Den, Library House, School For StartUps).
DocCom: a Cloud-based (SaaS) platform to manage communication between front-line doctors and other healthcare professionals. Eden has invested alongside Mark Jackson (founder and ex-chief executive of Helphire.com), Jon Craton (founder of Cramer) and
Private equity fund administrator Ipes will this week commence the provision of central administration services in Luxembourg following authorisation and regulation by the Ministry of Finance and the Commission de Surveillance du Secteur Financier on 3 September.
Ipes established the office in Luxembourg in December 2009 and was licensed as a Chartered Accountant Company in February 2010.
Under its newly granted Professional of the Financial Sector license, Ipes Luxembourg is able to provide a full range of administration services to both regulated and unregulated funds including the popular Sif and Sicar structures.
Group chief executive Kevin Brennan says: “Establishing a
Palamon Capital Partners, a European mid market private equity firm, has sold OmniBus Systems to Miranda Technologies, a Toronto Stock Exchange listed company, for an all-cash consideration of EUR36.4m.
OmniBus is a developer of software systems for television broadcasters and video content distributors over mobile and internet platforms.
Its flagship product, iTX, enables broadcasters to manage the transmission of live television content in high definition using standard IT hardware and software products rather than the bespoke, complex, and predominantly hardware-based systems found in legacy installations.
Palamon acquired OmniBus from the administrators of its former German listed parent and set about
The Association of the Luxembourg Fund Industry has appointed Ching Yng Choi as the head of its Asia office.
Claude Kremer, chairman of Alfi, says: “Luxembourg is a world leader in cross-border fund distribution and has a significant share of foreign funds registered for sale in Asia. The office is being established in Hong Kong in response to the continued strengthening of the Ucits brand in Asia, and it will help ALFI further develop valuable relationships with asset managers, regulators, fund associations and investors.”
Choi joins from MDO Services, the fund governance service provider, where she was a risk manager.
DC Advisory Partners, formerly Close Brothers Corporate Finance, has appointed Tosh Kojima as managing director and the head of Japan Asia Focus Group.
Based in London, Kojima will be responsible for advising clients pursuing cross-border transactions between Europe and Asia and leveraging the network of Daiwa Capital Markets.
Kojima has 15 years of advisory and banking experience, nearly all of which have been dedicated to cross-border work. He joins from Nomura, where he played a pivotal role in driving the growth of its European advisory business through the various stages of development, including the integration of Lehman Brothers’ European business.
Matrix has appointed Vincenzo Narciso as partner in the private funds group, where he will focus on both originating and raising capital for international private equity and venture capital funds.
The private funds group at Matrix was founded in 2004 and works with a wide range of private equity firms providing advisory and fundraising services.
Funds advised by the team have raised in excess of EUR1bn since inception.
The team is part of the investment banking division of Matrix Group, a UK privately owned financial services businesses with GBP3.5bn assets under management.
Malcolm Le May, chief executive of investment
RLJ Equity Partners has joined forces with the senior management team of Enhanced Recovery Corporation to form Enhanced Recovery Company, the largest minority owned accounts receivable management company in the US.
Founded in 1999 by Mark Thompson and Kirk Moquin, Enhanced Recovery Corporation uses a technology platform to perform accounts receivable and collection services for the bankcard, retail, cellular, landline, overdraft, cable, utility, home equity lines of credit and auto sectors.
"We are extremely excited to partner with Mark and Kirk and the entire senior management team of ERC," says Rufus Rivers, managing director of RLJ Equity Partners. "We believe
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