EMEA
LBO France-backed My Media Group acquired Peak Ace.
My Media Group, France’s leading independent consulting and media buying group, acquired a 51% majority share in Peak Ace, Germany’s leading independent performance marketing agency operating in over 20 languages. Financial terms were not disclosed.
With this acquisition, My Media Group takes on a new, international dimension, allowing them to offer their clients truly global campaigns and strategies and thus unlocking new markets and advantageous opportunities to scale internationally. Peak Ace now joins the 5 complementary sister companies that comprise the My Media Group, each offering their own unique approach to digital marketing.
"It is truly terrific to find a partner company which shares our ambitions and recognizes the value in fostering a pioneering corporate culture as we do. Now we’re looking to the future – we’re eager to take Peak Ace to the next level and to explore the fortuitous opportunities of our partnership with My Media Group!” Bastian Grimm, Peak Ace CEO and Director of Organic Search.
Permira acquired Hana Group, a global provider of freshly prepared sushi “on the go” through its 900 points of sale in grocery retailers across 12 markets, from TA Associates. Financial terms were not disclosed.
“Global demand for sushi is growing, driven by consumers’ demand for healthy and convenient meals. At the same time, retailers are looking to introduce more theatre and experience into their stores. With its in-store chefs preparing fresh sushi, Hana addresses both of these trends. We believe that Hana’s relentless focus on innovation, customer service and consumer experience, will continue to fuel growth and increasingly strategic collaboration with retail partners.” Tara Alhadeff, Principal in Permira’s Global Consumer Team.
Hana Group and TA Associates was advised by Rothschild & Co, KPMG, Latham & Watkins, Boston Consulting Group. Management was advised by McDermott Will & Emery, Gide and Callisto. Permira was advised by Cambon Partners, McKinsey & Company, Simon-Kucher & Partners, AlixPartners, Weil, Gotshal & Manges, Alvarez & Marsal, PwC, Linklaters.
Progressio Fund III has finalized the acquisition of a majority stake in Gampack, a specialized manufacturer of secondary packaging machinery with a strong international presence. Financial terms were not disclosed.
Founded in Podenzano in 2004, Gampack is active in the production of machinery and systems for secondary packaging (shrink wrappers and cardboard packers) focused on the beverage sector. Due to the solidity, reliability and speed of its machines and to the high level of service provided to the customer, the company has established a specific niche and is a prominent player in the sector.
“Creating a company capable of meeting the needs of customers is an exciting experience. For new growth, new resources will be needed, and I am convinced that Progressio will contribute to balanced growth, not only of the production capacity, but also in service, in order to preserve and – if possible – increase the level of customer satisfaction." Giuseppe Gazzola, Gampack Founder.
Gampack was advised by Gobbi & Associati and Studio Pedersoli e Associati. Progressio was advised by Ernst & Young and Russo De Rosa Associati.
Paulson & Co, activist investor, raised stake in Britain's Premier Food.
Paulson & Co, the hedge fund firm led by billionaire investor John Paulson, has upped its overall interest in Britain's Premier Foods to 11.9%, a regulatory filing showed on Friday.
The activist investor’s move comes a little over two months after the Bisto gravy and Oxo-cube maker said Chief Executive Officer Gavin Darby would be stepping down, following a shareholder revolt, led by activist hedge fund Oasis Management, that called for a management overhaul.
SSE to divest its stake in Stronelairg, Dunmaglass wind farms in Scotland.
British energy supplier SSE has agreed to sell nearly half of its stake in the Stronelairg and Dunmaglass wind farms in Scotland to renewables fund Greencoat UK Wind and a UK pension fund for £635m ($832m).
The move is part of SSE’s wider strategy to focus on its core businesses of regulated networks, renewables, flexible thermal generation, and business energy sale. SSE will sell its 49% percent stake in the wind farms but will continue to hold the remaining 50% majority stake and continue to operate both assets.
Greencoat UK Wind, an infrastructure fund managed by Greencoat Capital, is buying the stake in partnership with a large unnamed UK pension fund whose investment is managed by Greencoat.
Altice prepares for Portugal cable network sale.
Debt-burdened telecom carrier Altice Europe is gearing up to sell a stake in its high-speed fiber network business in Portugal, with an auction process expected to kick off within a fortnight.
Altice, which took control of Portugal Telecom in 2015, is looking to replicate its recent sale of a 49% stake in French fiber optic business SFR FTTH to three investment funds for €1.8bn.
The group, whose founder is billionaire Patrick Drahi, has hired Lazard to sound out potential bidders including U.S. funds KKR and Morgan Stanley Infrastructure Partners.
Sunrise in talks to buy Liberty Swiss cable business.
Swiss telecommunications company Sunrise is apparently in advanced talks to buy Liberty Global’s cable business in Switzerland, UPC.
Liberty Global has been favorable towards consolidation in the Swiss market with its total of four full-service providers, but the company was expected to rather buy than sell.
Discussions between Liberty Global and Sunrise regarding a combination of their assets in Switzerland have been going on for a while. Exiting Switzerland would be in line with Liberty Global’s recent moves to sell its cable subsidiaries in Austria as well as in Germany and Eastern European countries.
AMERICAS
Vance Street Capital, a Los Angeles-based private equity firm, announced the acquisition of Applied Plastics, a leading advanced coatings provider to the medical end markets. Financial terms were not disclosed.
This is Vance Street’s sixth investment out of Vance Street Capital II, and its fourth investment in the medical space in the past three years.
“We are excited to partner with Vance Street as we look toward our next chapter of growth. Vance Street’s highly relevant investing and operating experience in the medical manufacturing space made them the ideal partner to help Applied execute on the exciting growth we see across our customer base.” Dave Ring, Applied CEO.
BMO Sponsor Finance and Neuberger Berman acted as debt providers. Applied Plastics was advised by Raymond James and Sullivan & Worcester. Vance Street Capital was advised by Paul Hastings.
Trive Capital seeks more corporate carveouts after EarthLink.
Trive Capital is on the lookout for more carveouts after its $330m cash acquisition of internet-service provider EarthLink on Dec. 31. The Dallas PE shop acquired Atlanta-based EarthLink from Windstream Holdings, financing the deal with its cash assets.
APAC
Brookfield led consortium acquired Healthscope for approximately A$5.7bn ($4.1bn).
Brookfield together with institutional partners agreed to acquire up to 100% of Healthscope for approximately A$5.7bn ($4.1bn).
Healthscope is the second largest private hospital operator in Australia and the largest pathology services provider in New Zealand.
“Healthscope is a leading business offering best-in-class, essential services to the well-established and growing private healthcare sector in Australia and pathology services sector in New Zealand,” Len Chersky, Brookfield Business Partners Managing Partner. “As a long-term operator of and investor in service businesses globally, and one of the largest builders of hospitals in Australia, we are confident in the prospects for Healthscope to strengthen, grow, and continue to provide quality healthcare services to the community under our ownership.”
Healthscope was advised by UBS and Herbert Smith Freehills. Brookfield was advised by Bank of America Merrill Lynch, King & Wood Mallesons and MinterEllisonRuddWatts. BGH was advised by Allens.
Blackstone managed funds acquired 70% stake in Aadhar Housing Finance, home loans providers from Wadhawan Global Capital and its unit Dewan Housing Finance. Financial terms were not disclosed.
“The transaction with Blackstone is a part of our multi-pronged strategy to reduce the corporate debt levels and strengthen our balance sheet,” Kapil Wadhawan, Wadhawan Chairman.
SoftBank Vision Fund to invest $1.5bn in Chinese used cars platform.
The SoftBank-led Vision Fund is in talks to invest up to $1.5bn in Chinese used car trading platform Guazi.
That would mark the latest Chinese deal by the mammoth $100bn investment fund as it looks to expand in the world’s No.2 economy, and would come after it invested €460m in German used car dealing platform Auto1.
The fund is likely to invest up to $1.5bn in Guazi in a deal that would value the firm at $8.5bn before the investment. Vision Fund had in the past few months held talks with Guazi’s direct rival, Renrenche, which is backed by Chinese ride-hailing firm Didi Chuxing.
Go-Jek raises $1bn in a round led by Google, Tencent, JD.
Indonesian ride-hailing firm Go-Jek had finalized the first close of its series F funding round, led by Alphabet’s Google, JD and Tencent, with Mitsubishi and Provident Capital joining as investors.
Liquid launches Private Company Liquidity Fund.
Liquid has launched a fully independent, institutionally backed firm providing liquidity to employees and stockholders of privately held companies.
"Our team brings a long history with a strong track record of collaboratively solving the challenges faced by private companies and their employees, as well as a strong understanding of their businesses. Our strategic investors provide Liquid the ability to scale immediately to meet the needs of even the largest private companies, as well as a deep understanding of the global markets." Robert Pitti, Liquid Founding Partner.
Funds managed by Goldman Sachs Asset Management, Morgan Stanley and Coller Capital have entered into a strategic relationship with Liquid, making substantial capital commitments to Liquid's fund.
InvAscent-managed India Life Sciences Fund III gathers $250m.
India Life Sciences Fund III, which is managed by healthcare-focused private equity firm InvAscent, has mopped up $224m in committed capital for its third vehicle. The third vehicle, which had initially targeted to raise $200m, started raising funds towards the end of 2017.
“We have already made three commitments from the third fund. Ticket size per investment would be $10-50 million." Hari Buggana, InvAscent Investment Advisors Chairman and Managing Director. However, it’s still not clear whether this marks a final close for the third fund.
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