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Gozour, Citadel Capital’s multi-category consumer foods platform, has announced that its confectionary brand subsidiary, Rashidi El-Mizan, has just finalised a deal to acquire 75 per cent of Al-Musharraf, one of Sudan’s largest producers of halawa, biscuits and flour, for an enterprise value of USD19m.
The acquisition will give Gozour exposure to the rapidly growing Sudanese market.
Citadel Capital, a private equity firm in the Middle East and Africa with USD8.3bn in investments under control, acquired REM in late 2007.
Today, REM is a key portfolio company of Gozour: its distribution network reaches 91 per cent of Egypt’s 79-million-strong consumer
Mark Wössner has been appointed principal senior adviser of Corestate, a Swiss private equity investor seated in Zug, Switzerland.
He will counsel Corestate in the business areas of acquisition and restructuring of non-performing portfolios and loans.
“We are seeing a lot of portfolios who got into trouble due to misguided assumptions and poor management. Our job is to identify and remedy these issues. Mark Wössner will render decisive support in these efforts,” says Ralph Winter, founder of Corestate Capital. “He will benefit from his outstanding contacts in the banking and financial sectors.”
Wössner was head of Bertelsmann, chairman of
Oxagen, a drug discovery and development company specialising in inflammation, has completed a GBP16m (USD26.7m) series C round led by Novartis Venture Funds.
The proceeds of the funding will be used primarily to advance Oxagen’s CRTH2 antagonist programme in inflammatory and respiratory diseases.
This will include the completion of an ongoing Phase IIb clinical study of the lead molecule OC000459 in moderate persistent asthma.
This follows the successful completion of proof-of-concept studies in both asthma and allergic rhinitis. CRTH2, also known as DP2 is a cell surface receptor for prostaglandin D2 and is implicated in allergic inflammation.
The funds will
Global private equity firm J.C. Flowers has strengthened its operations with two senior appointments to its London office.
Dr. David Morgan (pictured) has been appointed managing director, JCF Europe and Asia Pacific, and Sir Callum McCarthy has been appointed to the newly-created post of chairman, JCF Europe.
Morgan, currently chairman of J.C. Flowers in Australia, will be responsible for JCF’s investment portfolio across Europe and Asia Pacific. Ravi Sinha, managing director at J.C. Flowers in London, will leave JCF.
Morgan was chief executive of Westpac Banking, one of Australia’s largest financial services companies, between 1999 and 2008. Before joining
CAES Development, a portfolio company of Haddington Venture’s managed funds, has sold to the rights to the Norton Energy Storage Project, a compressed air energy storage facility under development in Norton, Ohio, to FirstEnergy Generation.
"We are very pleased to have reached an agreement with FirstEnergy for their acquisition of this project," says Haddington managing director John A. Strom (pictured). "The rapid growth in renewable wind energy is accelerating the need for additional bulk energy storage to support renewable integration, and the flexibility of CAES facilities to provide both regulation and load following services, combined with their low energy production
Brynwood Partners VI has completed its first investment by acquiring Balance Bar from Kraft Foods.
Terms of the transaction were not disclosed.
Balance Bar competes in the nutrition and energy bar segment.
Brynwood Partners has an investment track record in the food industry having managed prior investments in Lincoln Snacks, Signature Snacks, DeMet’s Candy Company and Richelieu Foods.
"Brynwood VI is pleased to announce this exciting transaction," says Hendrik J. Hartong III, senior managing partner of Brynwood VI. "Balance Bar is a great brand with a very loyal consumer following. We plan to increase the focus on the brand and
Citadel Capital, a private equity firm in the Middle East and Africa, is to list its shares on the Egyptian Exchange.
The listing will not include the offering of new equity in the firm at this time.
“We are about to enter what we believe will prove to be another outstanding vintage year for private equity investments,” says Citadel Capital chairman and founder Ahmed Heikal (pictured). “It is time for decisive investors with proven strategies to embark on the next wave of deals that will generate strong returns. This listing will give Citadel Capital new flexibility in accessing equity
Slate Capital, a private equity firm based in Baltimore, Maryland, and New Markets Venture Partners, a venture capital firm based in College Park, Maryland, have acquired ecoast Sales Solutions.
eCoast, based in Rochester, New Hampshire, is an outsourced sales and channel marketing agency that executes customised programmes for the high-technology industry.
"We are excited about our partnership with Slate and New Markets and the growth potential that is ahead of us," says Allen Tait, co-chief executive of eCoast. "There is a tremendous need for the lead generation services that eCoast provides, and the company has continued to expand its capabilities
Dubai-based Abraaj Capital, the parent entity for the Abraaj Group and its associated funds, has completed a USD375m capital increase to existing shareholders.
The rights issue, which increases the company’s paid-in capital to USD1.5bn, was fully subscribed.
Use of the proceeds will include seeding new funds to take advantage of an attractive investment environment, as well as possibly executing strategic opportunities for Abraaj itself to expand its sphere of operations.
Sheikh Abdulrahman al Turki (pictured), chairman of Abraaj Capital, says: "This initiative will enhance value for all Abraaj shareholders and allow the firm to consummate opportunities in an expedient manner
Aureos Capital, a private equity fund management company focused on Africa, Asia and Latin America, is launching the USD250m Aureos South-East Asia Fund II.
The fund will be the largest pan South-East Asian fund to exclusively target small to mid-cap businesses.
It will invest across the South-East Asian region and will seek to make investments of between USD2m and USD10m.
The fund will target investments in Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Cambodia and Laos.
Sev Vettivetpillai (pictured), chief executive of Aureos Advisers, says: “South-East Asia is well placed to be one of the first regions to
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