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Private equity firm Riverside has completed its first deal in Spain with the acquisition of Celvitae, a private cord blood bank.
Celvitae has been acquired by Riverside Europe Fund IV as an add-on to Crioestaminal Group.
Founded in 2007, Celvitae is licensed by the General Directorate for Regulation and Inspection of the Community of Madrid.
It is the only private bank in Spain to process samples within a hospital environment and maintain a complete maternal-foetal serum bank.
It processes all samples collected within 24 hours, using its laboratory at MD Anderson Internacional España (Madrid), guaranteeing a maximum percentage of live
Approximately one-third of private equity firm managers believe the credit crisis was resolved in 2009, while an additional ten per cent predict that market weakness will dissipate before the second half of this year.
In total, more than 80 per cent of private equity professionals surveyed suggest that the credit crisis has ended or will conclude before the second half of 2011, according to "Private Equity in 2010," the latest research report published by professional services firm Rothstein Kass.
The report includes the findings of a survey of 199 private equity firms conducted during the first and second quarters of
Evercore Partners has launched an equity research group and plans to initiate coverage of companies in the telecommunication, media and technology, and financial institutions industries during the third quarter.
The research group initially is comprised of ten analysts with expertise in the sectors they cover.
The research group will initially cover the following sectors: financial technology / IT services (analyst David Togut), large-cap banks (Andrew Marquardt), regional banks (John Pancari), specialty finance (Brad Ball), cable and satellite (Bryan Kraft), consumer internet (Kenneth Sena), media and entertainment (Alan Gould), networking equipment (Alkesh Shah), publishing (Douglas Arthur) and telecom (Jonathan Schildkraut).
Evercore
Funds advised by BC Partners and Lion Capital have reached an agreement whereby Lion Capital has been granted a period of exclusivity for the purposes of reaching a definitive agreement for Picard with BC Partners.
The communication and consultation process with employee representatives is expected to start before the end of the week.
Following the completion of this process, BC Partners will be able to enter into a formal agreement with Lion. This should result in completion of the transaction in the fourth quarter of 2010, after it has been approved by the European competition authorities.
Picard is a
Accel-KKR, a technology-focused private equity investment firm, has reached a definitive agreement to sell iTradeNetwork, a provider of supply chain management software and business intelligence solutions to the food industry, to Roper Industries for USD525m in cash.
iTradeNetwork’s solutions allow distributors, manufacturers, operators, retailers, suppliers and wholesalers to reduce cost, grow revenue and strengthen trading partner relationships.
It has more than 6,200 customers, including 16 of the top 20 food retailers/wholesalers, 75 of the top 100 food manufacturers, 50 of the top 50 distributors, eight of the top 20 restaurant chains and four of the top six foodservice management companies.
The Dodd-Frank Wall Street Reform and Consumer Protection Act will significantly change the regulatory regime governing investment advisers, particularly investment advisers to private funds, such as hedge funds and private equity funds, a report by law firm Pillsbury says.
The primary purpose of the new rules and requirements is to “fill the regulatory gap,” by requiring advisers to private funds to register as investment advisers with the Securities and Exchange Commission or state securities regulators, unless an exemption applies, and provide information about their activities to the SEC.
Currently, advisers with USD25m or more of assets under management may register
Buyouts drove the momentum in the European private equity market in the first half of 2010, with activity levels rising 56 per cent to 167 deals from 107 deals in the first half of 2009, a report by Candover shows.
In value terms, buyouts quadrupled to EUR20.7bn in H1 2010, from EUR5.3bn in H1 2009.
Volumes in Q2 2010 rose from 95 to 72, with value totalling EUR11.2bn, up from EUR9.5bn in Q1.
The increase in buyouts has been driven by the EUR100m to EUR1bn mid-market segment, which recorded 32 deals in Q2 2010, up 68 per cent from Q1.
Graphite Capital, a UK mid-market private equity firm, is backing the GBP45m management buyout of Teaching Personnel, the UK’s third largest provider of supply teachers and support staff to schools, from private equity managers RJD Partners.
Graphite and the Teaching Personnel management team plan to develop the business through a combination of organic growth, strategic acquisitions and a broadening of its service offering.
Clydesdale Bank Corporate & Structured Finance is providing acquisition finance and working capital facilities.
Graphite has acquired a significant majority stake and the management team is re-investing a substantial proportion of its proceeds in the business.
Augmentum Capital, a growth capital fund backed by RIT Capital Partners, and Revere Capital Advisors have made an investment in SRL Global, a technology partner to pension funds, insurance companies, endowments and large family offices.
Augmentum and Revere led a GBP7.5m funding round in the company in exchange for an equity interest. Both investors will join the board at SRL Global.
Initially established in 2007 as a trading and technology joint venture with Man Group to develop a proprietary enterprise investment platform for the company, SRL Global was spun out by the management team as an independent operating entity in
TLG Capital has closed its first deal in India with Re-feel Cartridge Engineering.
The company is India’s largest and fastest growing printer cartridge refill and laptop repair services’ company.
Re-feel’s cartridge refilling service costs a third of the original manufacturer’s price.
Re-feel’s wholly-owned ClubLaptop subsidiary will offer laptop repairs at half the price of the original manufacturer. ClubLaptop will have set up over 300 local repair stores nationwide by 2013.
Zain Latif (pictured), principal of TLG Capital, says: “Not only is Re-feel’s distribution network within India phenomenal, the environmentally-friendly aspect of reusing cartridges fits in well with our double-bottom-line agenda.
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