Solutions
American Combustion Acquisition, an affiliate of Blackstreet Capital Management, has sold American Combustion Industries (ACI) to Timothy . Kirlin, Chief Executive Officer, and select members of his management team.
ACI is a mechanical engineering firm located in Brentwood, MD and is one of the leading firms that installs and repairs boilers, chillers, HVAC units and other commercial mechanical systems. Blackstreet is led by Murry Gunty, Founder and Managing Partner, and Lawrence Berger, Managing Director.
“My 10 year partnership with Blackstreet has been rewarding both financially and operationally,” says Kirlin. “We jointly rescued this company from the prior owner and
CVC Capital Partners (CVC) has held the the final closing of CVC Growth Partners, a new fund dedicated to investing in high-growth, middle-market companies in the software and technology-enabled business services sectors.
CVC Growth Partners exceeded its USD750 million fund target and, including a sidecar co-investment vehicle, secured total commitments of USD1 billion.
CVC Growth Partners has already made two investments: Wireless Logic, Europe's leading M2M connectivity and managed services provider that works with over 950 application providers, system integrators and enterprises, in February 2015; and Kount, a Boise, Idaho-based e-commerce and mobile fraud detection service provider used by
The Riverside Company and the company’s founders have sold French pharmaceutical company HRA Pharma (HRA). Based in Paris, HRA is a specialty pharmaceuticals leader in niche areas of women’s health and endocrinology.
Riverside invested in HRA in 2011, attracted by the company’s strong foundation and skilled management team.
HRA leveraged Riverside’s healthcare industry specialization and global team to access new markets, expand its R&D efforts, and launch new products. Since Riverside’s investment, the company has nearly doubled revenues, grown its direct commercial presence in Europe from five to eleven countries, launched four new products, and broadened its global footprint
Dunedin, the mid-market private equity firm, has sold its original shareholding in CitySprint – the UK’s same day distribution network – in a secondary MBO backed by LDC, valuing CitySprint at GBP175 million.
The deal sees Dunedin reinvesting into the business to retain an equity stake.
Dunedin originally invested GBP33.1 million in CitySprint at the end of 2010 and has since worked alongside management to build the UK’s largest privately owned same day distribution network.
With Dunedin’s support, CitySprint has made 21 acquisitions, creating an unrivalled nationwide network of 40 service centres and over 3,000 self-employed couriers, which
Ancor Capital Partners has sold portfolio company Liguria Foods, a portfolio company, to CTI Foods, a portfolio company of Thomas H Lee Partners and Goldman Sachs & Co.
Ancor, along with co-investor Brown Brothers Harriman Capital Partners (BBH), acquired Liguria Foods in 2008 as a part of a spin-out of a division of a larger publicly held company.
Founded in 1974 and headquartered in Humboldt, Iowa, Liguria (www.liguriafoods.com) is a value-added food-service solutions partner that manufactures high-quality branded and private-label pepperoni for the large, expanding USD1 billion US pepperoni market, with a particular focus on independent and multi-unit pizzerias
Addleshaw Goddard has advised long standing client ECI Partners (ECI), a growth-focused, mid-market UK private equity firm, on the sale of Citation to HgCapital, generating a multiple of 5.4x money for investors.
Since ECI's investment in December 2012 it has helped Citation, which provides HR, employment law, and health & safety solutions to 16,000 SMEs across the UK, grow its customer base from around 5,000 to 16,000 and its revenue from GBP20 million to over GBP40 million forecast in 2016. The Addleshaw Goddard team was led by private equity partner, Mike Hinchliffe, supported by corporate partner Richard Lee, tax partner
Noerr has advised the foodpanda Group on the sale to JustEat of food delivery service companies which do not belong to foodpanda’s core business.
The transaction affects the markets in Brazil and Mexico as well as the Rocket internet services in Italy (Pizzabo) and Spain (La Nevera Roja). The total purchase price is EUR125 million.
The transactions in Italy, Brazil and Mexico have been completed. Clearance by the Spanish antitrust authorities is expected to be given in the second quarter 2016.
In this transaction the Noerr team worked closely together with the firm’s UK partner law firm Addleshaw
Private equity firm Mid Europa Partners has completed the sale of Bité Finance International BV (Bite) to funds affiliated with Providence Equity Partners.
The transaction was first announced on the 23 December 2015.
Bite controls a mobile operator in the Baltic countries (No2 in Lithuania and No3 in Latvia) that is focused on meeting growing demand in the region for a high quality network experience and providing excellent customer service. The Group offers a wide range of mobile services, internet access and data services for business and residential customers through its nationwide coverage.
Offshore law firm Carey Olsen has advised specialist financial services private equity fund AnaCap Financial Partners on the close of its third Guernsey flagship fund, AnaCap Financial Partners III.
The Guernsey Fund will make equity and equity-related investments primarily in European financial services businesses, building on the successful programme achieved by AnaCap Financial Partners II.
Carey Olsen partner Ben Morgan and senior associates Emma Penney and Annette Alexander advised on the Guernsey aspects of the Fund.
Morgan says: "This third fund-raising is a notable achievement and Carey Olsen's extensive experience with these types of vehicles along with Guernsey's
OMERS Private Equity (OPE) is to sell Marketwired to New York-based Nasdaq. Marketwired is a social intelligence company offering global news distribution and reporting. It is a full-service provider to Investor Relations (IR) and Public Relations (PR) professionals who utilise its services for news distribution, media management and analytics solutions.
Since acquiring Marketwired, OPE has worked with the Company on several initiatives, including enhancing the management team, building out the new Resonate platform, developing world class analytics, and positioning the Company for future growth.
Michael Graham, Senior Managing Director and Head of North America, for OPE says: “We are
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