Solutions
Ashurst has advised on the GBP680 million sale of the Jurys Inn hotel chain to US private equity group Lone Star.
The business, which has four hotels in London, another 21 across the UK, five in Ireland and one in Prague, has been sold less than two years after restructuring its debt, in relation to which Ashurst also acted.
Ashurst acted for the seller, Jurys Inn Holdings Limited, which is owned by Oman Investment Fund, Mount Kellett Capital Management, Ulster Bank, Westmont Hospitality Group and Avestus Capital Partners. Jurys Inn employs about 2,000 people and operates 7,000 rooms. The
Glennmont Partners has completed the purchase of the Margam Green Energy Project from ECO2 and Western Logs Group on behalf of its dedicated clean energy fund, Glennmont Clean Energy Fund Europe II in a GBP160m deal.
The Margam Green Energy Project will see a new biomass power generation plant built in Port Talbot, Wales, providing 40 MW of renewable energy to the Welsh and UK Energy market.
The purchase and further construction of the Margam Green Energy Project is being supported by debt arranged by Deutsche Bank with the support of Eksport Kredit Fonden, the export credit agency of
Law firm Noerr has advised Augusta Technologie AG (Munich) on a squeeze-out under merger law. At an extraordinary general meeting of Augusta, the transfer of the shares of the minority shareholders to the main shareholder TKH Technologie Deutschland AG was approved with reasonable cash compensation.
The squeeze-out and the merger of Augusta into TKH will become effective on entry in the Commercial Register.
Noerr’s team was led by Dr Michael Brellochs and Dr Tobias Bürgers. The law firm acted for Augusta regularly in recent years and advised the company throughout the entire takeover process by the TKH Group in 2012.
Norwegian private equity firm Herkules Capital has selected the iLEVEL Private Capital Data Platform to streamline its portfolio monitoring process and to create more efficiency in its investor reporting process.
Herkules Capital invests in companies based in the Nordic region, primarily in Norway.
“After a thorough analysis of the portfolio monitoring systems available in the marketplace, we selected iLEVEL. It will allow us to maintain most of our data in a single platform, where we can easily access it for investment analysis, marketing and quarterly investor templates,” says Adele Norman Pran, CFO of Herkules. “iLEVEL will take a resource intensive
Mooreland Partners acted as the exclusive financial advisor to Symbio SA on its sale to VXI Global Solutions, LLC, a portfolio company of Bain Capital.
Symbio is a leading Outsourced Product Development (OPD) company that specializes in high-quality software development services for a broad range of Fortune 500 companies. VXI is a leading provider of business process and IT outsourcing services. Together, the combined company will be able to address the entire end-to-end customer value chain by providing all processes from customer sales and services to product development and service delivery. The combined company will employ 17,000 experts across the
Law firm Howard Kennedy is advising English Rose Enterprises, a company owned by Andrew Perloff and family, on its efforts to acquire Beales, the historic department store chain.
The acquisition is being made with the financial support of Portnard Limited, another Andrew Perloff family vehicle.
English Rose Enterprises has yesterday (19 January) announced its intention to make a cash offer of 6p per share, valuing the company at GBP1.23m. This is backed by the offer of financial support for Beales to the tune of up to GBP2m.
Beales, which can trace its history back to 1881 operates 30 department
Jamieson Corporate Finance has advised the shareholders of Honest Burgers on the sale of a significant stake to Active Private Equity (Active).
Honest Burgers, the London-based premium burger restaurant, was founded by Dorian Waite, Tom Barton and Philip Eeles in 2011 in a market traditionally dominated by innovative independent restaurants. The Jamieson team, which consisted of Stuart Coventry, David Kirkpatrick and Jean Pierre Smith, advised the founders on the sale of a 50 per cent holding to Active.
As part of the deal, the three founders will retain holdings in Honest Burgers and will continue to run the successful
Raney & Associates has expanded its service offering to include revenue integration strategies targeting emerging market private equity portfolios.
"Given the range of our capabilities, which includes deal origination, cross functional team management, brand awareness, total shareholder returns and corporate governance, the new service offering for this target market seems like a perfect fit with our proactive alternative investor relation (ProAltIR) solutions," says founder George Raney.
"We've noted in excess of 150 multinational corporations expanding their US corporate development deal teams in 2014, including the Industrial Commercial Bank of China. In virtually every industry there appears to be abundant opportunities
Miura Consulting’s ARAN solution is now supporting Fund clients with an automated “plug-and-play” AIFMD submission service.
ARAN was designed to eliminate the complexity and resource intensity of completing a manual submission and to reduce the cost of implementing an automated solution.
The Alternative Investment Fund Management Directive (AIFMD) is the latest stringent regulatory reporting requirement, aimed to deliver transparency to the hedge fund and asset management industries. As many Hedge funds are completing their first fund submission this month, Miura has been working with the industry to provide a comprehensive but efficient solution, which quickly imports and maps fund administration
Insurers in Asia and Europe are being guided by the shadow of local regulations, as well as investment logic, in their allocating to alternative strategies.
While their plans are often to boost exposure to non-traditional asset classes, the degree of such increases will often hinge on regulations, according to the inaugural edition of The Cerulli Edge – International Institutional Edition.
In Europe, punitive capital charges on insurers' alternative investments under Solvency II, taking effect from 2016, threaten to limit insurers growing their allocations to non-traditional classes.
In Asia, by contrast, Chinese insurers have used the liberalisation of their investment options
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