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Actis, a private equity investor focused solely on emerging markets, has acquired Vlisco Group, a company specialising in designer wax fashion fabrics.
Vlisco Group is a 164-year-old business which contributes to multiple West African economies with diverse brands ranging from luxury (Vlisco) through its mid-tier business (Uniwax) to contemporary (GTP and Woodin).
The company designs, manufactures and distributes 51 million yards of branded fabric a year for consumption primarily in West and Central Africa. It has strong retail presence in the Democratic Republic of the Congo, Ivory Coast, Ghana, Togo and Benin.
The company directly employs over 2,100 people of
Origo Partners has formed a joint venture with Monnis International, one of Mongolia’s largest industrial holding companies, to establish Resource Investment Capital.
ResCap will provide corporate finance advisory services primarily to companies active in or seeking to enter the Mongolian natural resources sector.
Mongolia has vast, largely untapped reserves of bulk commodities and base metals comprising coal, iron ore, copper, gold and uranium. The Mongolian government has recently announced a series of policy measures and infrastructure initiatives designed to unlock this value, including support for both government and private enterprises looking to access international capital markets to meet funding
Prelert has raised USD3.75m in series A funding from Fairhaven Capital Partners and Sierra Ventures.
Prelert will use the funds to expand sales of its Incident Cause Analysis software, the first product to automatically find the causal chain of events behind business affecting IT service incidents.
"Prelert has proven its ability to reduce the time it takes to identify and document the cause of service disruption incidents by 90 per cent," says Rick Grinnell, managing director of Fairhaven Venture Capital. "Their product has broad applicability across a diverse set of environments, including market data systems, Web-based applications, internal network applications,
Law firm Macfarlanes has advised Haymarket Financial, the new corporate lender, on its fundraising with Australia’s Future Fund.
Macfarlanes provided an integrated team for HayFin advising on specialist fundraising, corporate and tax structuring.
Stephen Sims, a funds partner who led the Macfarlanes team, says: “We are delighted to work closely with HayFin on their fundraising activities. With lending by banks less accessible in current market conditions, there is significant interest in the provision of debt by private financiers and we expect this sector to grow. We look forward to undertaking more of these challenging cross-border transactions.”
The HayFin instruction follows
Corigin, a real estate and private equity company, has launched in New York.
Corigin is headed by Ryan Freedman, chairman and chief executive officer.
Corigin is the spin-off of Coalco New York, the US operation of real estate company Coalco Development.
As part of the spin-off, Corigin has assumed assets of affiliated domestic businesses and consolidated other domestic holdings to create two core divisions, Corigin Real Estate Group and Corigin Private Equity Group.
"We are extremely pleased to announce the launch of Corigin, which marks the evolution of our business," says Freedman, formerly chairman and chief executive of Coalco New
RoundTable Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has completed the sale of Bioniche Pharma Holdings to Mylan, a pharmaceutical company, for USD550m in cash.
Bioniche Pharma is a sterile injectable pharmaceutical company based in Galway, Ireland, with a majority of its sales in the US.
Since its initial investment in 2006, RoundTable actively supported the company’s growth initiatives via the addition of several key members of the senior management team, a business development programme and investments in product development, including a new R&D facility in Galway.
Jack McGinley (pictured), founding partner of RoundTable and
An affiliate of Acon Investments, a Washington, D.C.-based private equity firm, has signed a definitive agreement to sell 100 per cent of SAE Towers to KEC International of India for USD95m (excluding working capital adjustments) on a debt-free, cash free basis.
Headquartered in Houston, Texas, with production facilities in Monterrey, Mexico and Belo Horizonte, Brazil, SAE Towers is the largest manufacturer of transmission towers in the Americas, with an annual production capacity of 100,000 metric tons.
SAE Towers’ management team and employees will continue with the company. Under the leadership of Luigi Ruggieri, SAE Towers’ chief executive, the company will
H.I.G. Bayside Capital, an affiliate of private equity firm H.I.G. Capital, has closed H.I.G. Bayside Loan Opportunity Fund II, a special situation loan fund focused on distressed transactions.
The fund closed on 30 July 2010 and has total aggregate commitments of USD1.1bn, exceeding its USD1bn target.
The fund will have a broad investment mandate to invest in non-control loan obligations of stressed and distressed companies in the US and Europe, including the ability to provide liquidity to troubled companies and to acquire the debt obligations of such companies.
The fund complements Bayside Capital’s existing distressed investment vehicle, H.I.G. Bayside Debt
Sheryl Schwartz, formerly a managing director at TIAA-CREF, has joined Perseus as a senior managing director working in its New York office.
Schwartz will work on mezzanine debt, private equity investments and investor relations.
Schwartz joined TIAA in 1988 and held a variety of positions there. She worked three years investing in corporate private placements, two years trading secondary private placements and four years investing in mortgage and asset-backed securities.
Beginning in 1997, Schwartz established the TIAA alternative investment programme and built a portfolio of approximately USD13bn of commitments in alternative investments including investments in buyouts, venture capital, distressed and
Susquehanna Growth Equity and technology services veteran Brad Galle have acquired the JK Group, a provider of technology solutions for corporate philanthropic management programmes.
Galle will serve as the company’s chief executive officer effective immediately.
"JK represents a tremendous opportunity to take a leader in a market and make it even stronger," says Scott Feldman of Susquehanna Growth Equity. "Customers who already use the company’s services can expect to see noticeable enhancements to the product offerings, new products and new channel partnerships over the coming months."
Feldman and Amir Goldman will represent Susquehanna Growth Equity on the company’s board.
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