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Benson Elliot Capital Management, a private equity real estate firm, has exchanged contracts on the acquisition of CBXII, Midsummer Boulevard, Milton Keynes.
The property has been acquired for GBP20.6m from the Caspar Fund, managed by Henderson Global Investors, reflecting an initial yield of ten per cent.
The acquisition, the first purchase for Benson Elliot in the UK, was made on behalf of Benson Elliot Real Estate Partners II and brings the total number of investments since its launch in 2006 to eight. The fund now holds a broad portfolio of asset types in France, Germany, Spain, Scandinavia, Central Europe
FedCap Partners, a private equity fund focused on the federal contracting industry, had its initial closing on 5 February 2010.
The objective of FedCap is to invest in and partner with small and middle market federal services and technology companies who are positioned in growing areas of the federal budget and whose owners desire growth capital and advice.
FedCap plans to make both minority and majority equity and debt investments and provide advice from industry experts to enable the fund’s portfolio companies to become attractive targets for acquirers.
Two primary factors have disproportionately adversely affected small and medium sized federal
New York based private equity firm Altitude Capital Partners has sold its portfolio company Saxon Innovations, an intellectual property licensing company, to Norman IP Holdings and RPX.
The sale includes Saxon’s entire portfolio of 180 patents.
Saxon was formed in August 2007 by Altitude to acquire the portfolio from Legerity which was formerly a spin out of AMD.
Prior to the sale, Saxon licensed its portfolio to many mobile handset manufacturers including LG Electronics, HTC, Nokia and Research In Motion.
Rob Kramer (pictured), the managing partner of Altitude Capital Partners, says: "It has been a wonderful experience being part of
Investcorp Technology Partners, the technology private equity arm of alternative investment manager Investcorp, has acquired a 29.8 per cent stake in OpSec Security Group, a maker of anti-counterfeiting protection technologies and services.
Investcorp’s investment includes a GBP7.6m subscription for newly issued preference shares and common equity, as well as a USD13m (GBP8.2m) shareholder note to fully refinance the company’s outstanding bank loan facilities.
"This investment allows us to invest in the high-growth market for global brand protection and ID and bank notes security technologies and solutions, which have significant barriers to entry," says Hazem Ben-Gacem, co-head of Investcorp Technology Partners.
Private equity firm BC Partners has acquired a 66 per cent stake in Spotless Group SAS, a manufacturer of laundry and cleaning products, from Axa Private Equity.
The transaction is valued at approximately EUR600m.
Both Spotless and AXA Private Equity are based in France, while BC Partners is based in the UK.
Phoenix Equity Partners, a UK mid-market private equity firm, has reached agreement for the sale of Nationwide Autocentres to Halfords Group for GBP73m.
Nationwide is a provider of automotive mechanical repair, servicing and MOT tests across the UK.
Operating from over 220 technical Autocentres, Nationwide has over 600,000 customers.
Phoenix acquired Nationwide in February 2006, following a direct approach made to the business 12 months earlier. The acquisition was made alongside a new management team recruited by Phoenix.
The senior management team grew Nationwide during the period 2006 to 2010: new Autocentres were opened and acquired; new products and
A consortium of venture capital firms has sold its stake in Intelliden, a provider of networking solutions, to information technology company IBM.
The consortium includes 3i Group, GGV Capital (formerly Granite Global Ventures), Matrix Partners, Telus Ventures and Westbury Partners.
Following the completion of the transaction, Intelliden technology will be integrated into IBM Tivoli Software.
The acquisition will further strengthen IBM’s service management portfolio by offering solutions for automation and optimisation of digital and physical assets, which includes full-service lifecycle management of network devices, IT, data centre and physical assets such as water mains, railway cars and door locks.
Accountancy firm Anchin, Block & Anchin has appointed E. George Teixeira as a tax partner in its financial services group.
With the addition of Teixeira (pictured), Anchin has a roster of 54 partners who provide advisory services to clients representing all of the major industries in the Tri-state area.
Teixeira brings almost 20 years of experience servicing privately-held and public companies in the financial services industry, including investment partnerships, broker dealers and investment advisers.
He has been involved with some of the largest investment partnerships in the country, including funds of funds, and he provides assistance to those expanding their
Private equity firm Kirtland Capital Partners has completed the sale of its portfolio company PVC Container, the parent company of Novapak, to Castle Harlan’s Pretium Packaging.
During its ownership, Kirtland led PVC through a number of strategic and operating initiatives, including a transition to the Novapak name following the integration and rationalization of several of its business divisions, and a go private transaction achieved through a reverse stock split.
Novapak is a major producer of PET, PP, HDPE and in-line fluorinated HDPE containers for specialty chemical, personal care, healthcare, food, beverage, household and automotive applications.
The company is headquartered in
GCP Capital Partners, a private equity investment firm, has appointed Bob Deutsch as a managing director.
Deutsch will also be a member of the investment committee of Greenhill Capital Partners.
Deutsch joins GCP Capital with operating experience in the insurance industry. Previously, he served as a founder and the chief executive officer of Ironshore, an insurance company established with over USD1bn of equity capital, and a Greenhill Capital Partners portfolio company.
Prior to that, he was executive vice president and chief financial officer of CNA Financial. Before joining CNA, Deutsch was one of the founders of Executive Risk (now part
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