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Private equity firm The Riverside Company has promoted 13 employees across its 18 worldwide offices.
The European team has promoted five professionals, including Peter Parmentier (pictured) from director European tax and legal counsel to European general counsel.
Parmentier joined the firm in 2007 and has provided legal counsel on transactions, fund and management company issues in Europe, as well as supporting Riverside’s efforts in Asia.
Rafael Álvarez-Novoa, Marcin Goszyk and Nils Schander have been promoted from associate to senior associate, and Sven-Hendrick Schulze from analyst to associate.
These promotions come on the heels of the early January moves of
Business owners and private equity managers who want businesses valued correctly should buck conventional wisdom and take a more comprehensive approach to valuation.
This is the advice of a specialist on valuations who believes that private equity firms and bankers who think mainly in terms of transactions can overlook elements that better determine the true value of an enterprise.
"The private equity world sometimes arrives at valuations by using standard Wall Street back-of-the-envelope assumptions," says Donald M. May (pictured), a director in the litigation and corporate financial advisory services group at New York accounting firm Marks Paneth & Shron.
"But
Venture capital firm Matrix Partners has appointed Antonio Rodriguez as a partner in Boston and opened an office in New York City.
Most recently, Rodriguez was chief technology officer of HP’s consumer imaging and printing division where he led projects in the areas of mass customization, e-reading, mobile platforms, and next generation web technologies for content consumption.
Rodriguez joined HP through the acquisition of Tabblo, where he was founder and chief executive.
“Having worked with Antonio when he founded and grew Tabblo, we know he brings great entrepreneurial experience and deep consumer technology expertise to the team,” says Timothy Barrows
Tarpon Towers, a wireless communications tower company, has received a USD15m equity commitment from Spire Capital Partners, a private investment fund focused on the communications, business services, information services and media sectors.
As part of the Spire transaction, Andrew J. Armstrong, Jr., managing member at Spire Capital, will join Tarpon’s board of directors.
"Significant wireless infrastructure investment will be made by the wireless carriers over the foreseeable future to address increased wireless subscriber usage, specifically as a result from continued wireless substitution as well as the explosion of wireless data usage and the proliferation of bandwidth intensive wireless applications," says
Adveq, a private equity fund of funds investment manager with offices in Beijing, New York, Frankfurt, and Zurich, has passed a SAS 70 Type II examination conducted by PricewaterhouseCoopers.
SAS 70 is an internationally recognised auditing standard which was developed by the American Institute of Certified Public Accountants to provide service organisations with the opportunity to subject their internal controls to an independent examination.
At the beginning of 2009 Adveq passed a SAS 70 Type I examination of the firm’s operational procedures and controls related to its investment management services and operations as of 31 December 2008.
Subsequently, the company
KRG Capital Partners, a Denver-based buyout firm, has completed its sale of ATI Holdings to GTCR Golder Rauner.
The all cash sale represents KRG’s first full exit in its USD715m Fund III.
ATI is a provider of outpatient physical therapy services with an offering that includes physical rehabilitation, hand therapy, aquatic therapy, work conditioning/work hardening, sports medicine and functional capacity assessments.
Headquartered in Bolingbrook, Illinois, ATI has 88 canters in five states, with the bulk of them – 58 – in the Chicago area; six in Wisconsin, and the remainder in Pennsylvania, Maryland and Delaware.
ATI’s founder, Greg Steil, will
Paris-based investment company Perceva Capital has taken a 50 per cent stake in Dalloyau, a French manufacturer of pastries, chocolates and confectionary.
Christelle Bernardé and Stéphane Raymond-Bernardé will succeed their mother, Nadine Gavillon-Bernardé, to become managing directors of the family business.
Gavillon-Bernardé becomes chairman and Jean-Louis Grevet and Xavier Lépine, both partners at Perceva Capital, join the supervisory board.
The companies aim to strengthen Dalloyau’s position in the French gastronomic market and abroad.
Dalloyau also specialises in the luxury catering business and has expanded into the Asian markets, particularly in Japan and Korea.
Additionally, the group is preparing the
The Bahamas has signed its 11th tax information exchange agreement and has initialled nine additional agreements in advance of the G20 31 March deadline to meet the internationally agreed tax standard.
TIEA negotiations between The Bahamas and Mexico were concluded with the signing of the agreement on 23 February.
The Bahamas expects its 12th TIEA in the coming weeks.
TIEA negotiations have been successfully concluded with Germany, Canada, Spain, Australia, South Africa, South Korea and the seven Nordic countries: Norway, Sweden, Finland, Denmark, Iceland, Greenland and Faroe Islands.
Signature on agreements with these countries will follow the completion of the
Future Capital Partners, the GBP6bn alternative investment boutique, has appointed Esther Lewis as business development manager.
The appointment is the latest in a string of new additions to the business development team over the last quarter.
Lewis will report to Piers Denne, recently hired to take on an expanded head of sales and marketing role.
The team will drive the marketing campaign for FCP’s range of investment products. This includes the recently launched Future Fuels – an investment partnership that will fund and build a renewable transport fuel plant in the North of England.
Lewis joins Future Capital
French investment bank Natixis is extending its negotiations with buyout firm Axa Private Equity over the sale of its private equity business for an unspecified period.
The group is in talks to offload its iXen Partners, NI Partners and Initiative & Finance Gestion units.
Axa Private Equity offered to buy the operations in February, valuing them at EUR507m (USD696.3m).
The two companies then inked a one-month exclusivity agreement on the talks.
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