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Moove, a subsidiary of Brazilian business group Cosan and a producer and distributor of lubricants and base oils, has acquired PetroChoice Lubrication Solutions (PetroChoice) from Golden Gate Capital for $479 million.
PetroChoice is one of the largest distributors and manufacturers of value-added lubricant solutions in the United States, delivering approximately 62 million gallons annually to the industrial, commercial, and passenger vehicle customer segments. PetroChoice has an extensive and high-quality product offering including Mobil lubricants, as well as several licensed proprietary brands including Medallion Plus, Dyna-Plex 21C and Eco Ultra. Headquartered in King of Prussia, Pennsylvania, PetroChoice operates more than 50
Evercore has appointed Herb Yeh as a senior managing director in the Technology practice in the firm’s Investment Banking business.
Cathay Capital has launched Cathay Health, a new €500 million global fund dedicated to investing at the convergence of healthcare, life sciences and technology.
Building on the success of the firm’s investment track record and platform, the new fund will focus on venture to growth-stage companies across Europe, North America and Asia.
Cathay Health represents the latest expansion of Cathay Capital, which has invested nearly €500 million in the healthcare sector to date across 34 companies on three continents from its private equity and venture funds. C
Cathay Health is backed by leading institutional and corporate investors such as French
Private markets exchange ADDX has raised $58 million in a Pre-Series B funding round that saw several financial institutions come on board as new shareholders: SET Venture Holding, a subsidiary of the Stock Exchange of Thailand (SET), UOB, Hamilton Lane (NASDAQ: HLNE) and Krungsri Finnovate, the corporate venture capital arm of Krungsri (Bank of Ayudhya PCL).
The latest investment brings total funds raised by ADDX to around $120 million, since the company’s inception in 2017.
The new investors join existing shareholders on the ADDX cap table, such as Singapore Exchange (SGX), Temasek-owned Heliconia Capital, Development Bank of Japan (DBJ), Japan
London-based investment firm RDCP Group (RDCP) has sold Mexican restaurant chain Chilango to Tortilla Mexican Grill PLC, the UK’s largest fast-casual Mexican restaurant brand.
Established in 2007, Chilango is a Mexican quick service restaurant chain serving up burritos, fiery hotboxes, and spicy salads to its UK customers. RDCP Group acquired Chilango out of administration in August 2020, with the deal led by Sameer Rizvi and Iryna Dubylovska working with Richard Franks leading the business as managing director.
The transaction with Tortilla delivers a 3x return for RDCP in under two years, equating to a 75% IRR.
BTIG has added Winston Kitchingham to its legal team as a managing director. Kitchingham will serve as Associate General Counsel and focus on BTIG’s Investment Banking division.
Kitchingham brings more than 20 years of experience to the firm. Most recently, he was a Director at MUFG Securities Americas Inc. Prior to that, he was a Senior Vice President and Assistant General Counsel at Lazard Capital Markets. Kitchingham began his career as a corporate lawyer at Simpson Thacher & Bartlett LLP and Dewey Ballantine LLP.
BTIG Investment Banking and Capital Markets divisions provide capital raising, transactional and advisory services for a
Global alternative asset manager Castlelake has made a $150 million investment in Swedish specialty lender, IMH.
The investment includes the acquisition of IMH’s existing loans and a financing facility for the origination of new loans.
IMH focuses on lending up to SEK50 million to small to medium-sized real estate investors and developers to address their short-term liquidity needs in areas such as construction and operations, and bridge loans backed by real estate assets. In its eight years of existence, IMH has lent over SEK 1.3 billion in Sweden. In a market where there is a lack of credit availability
Crestbridge has appointed Alex Le Quesne as group head of governance services with responsibility for managing the operational and financial performance of the firm’s Institutional Governance Services globally, including Management Company, Director, Client Compliance, Depository, Trustee, Appointed Representative, and Operator services.
Le Quesne will oversee the selective growth of the business’s Governance Services solutions aligned to meet the growing needs of its clients. He will also lead the implementation and evolution of key technology platforms to support the evolving governance services capabilities.
Le Quesne has 18 years’ industry experience, the last seven of which have been with Crestbridge where he
Pupil, a global spatial data technology company, has completed a deal to acquire market leading surveying firm AUS-SURV Middle East.
Founded in 2008, ASME specialises in all aspects of property measurement in the UAE. It has completed over 600 high rise and mixed use development projects across Dubai and Abu Dhabi.
Pupil expanded into Dubai in 2021, becoming the first business to be granted the status of Certified Surveying Company by the Dubai Land Department for over five years. The acquisition of ASME will facilitate its rapid growth in the region.
Founded by James D. Marshall and Oliver
Bite Investments has released a report in association with Mergermarket concluding that enhanced data access and operational efficiencies are the main drivers for digitalisation among investment firms.
The report, titled “The Tech’s Factor: The digitalisation of private markets in 2022 and beyond” reveals how digitalisation is shaping the private capital industry and how fund managers are adopting to tech, for what purposes and how the size of a firm can be a determining factor in speed, success, and satisfaction.
The report surveyed US senior executives from middle market, boutique funds, and asset managers on the topic of digitalisation of
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