EMEA
Repower, Swiss energy operator, and Omnes Capital formed a joint venture, Repower Renewable, aimed at managing the portfolio assets and at developing new generation projects in the renewable energy sector. Repower Renewable is held 65% by Repower Italia and 35% by Capenergie 3 (a fund dedicated to renewable energy and managed by Omnes). The overall value of the portfolio is around €100m ($113m).
Fabio Bocchiola, Italy country manager, Repower: “Repower Renewable represents a key element of the growth strategy in green energy production and confirms Repower's interest in the Italian market. The new group created with the Omnes fund will leverage our existing plant and projects and a significant group of plants created by Elettrostudio Energia along years of development in small/medium size projects in different technologies.”
Silverfleet-backed 7days, a specialist workwear supplier to the healthcare sector based in the Westphalia region of Germany, acquired Praxis Herning, which supplies the same end markets in the Nordic region. Financial terms were not disclosed.
Joachim Braun, partner at Silverfleet Capital with responsibility for its investment in 7days said: “Their very similar specialism, strategy and corporate philosophy make 7days and Praxis ideal partners. Both stand for high-quality materials and workmanship providing maximum comfort for an attractive price-performance ratio. This acquisition is the first step in our growth strategy for 7days in particular through increasing its market penetration in other regions of Europe.”
7days was advised by Deloitte, Latham & Watkins, McDermott Will & Emery, Moalem Weitemeyer Bendtsen and Shearman & Sterling.
Patrimonium Private Equity acquired C. Hubner.
C. Hubner is a plastic fabrication company based in Germany. Financial terms were not disclosed.
The new shareholder structure will enable investments in the expansion of activities and new technologies. With its extensive industrial experience, Patrimonium Private Equity financed and supported the growth of many medium-sized companies in the DACH region.
Sponsor Capital acquired bicycle components manufacturer Herrmans.
Herrmans is a leading company in heavy-duty light solutions and bicycle components headquartered in Pietarsaari, Finland. Financial terms were not disclosed. The aim of the deal is to strengthen the market position and competitive advantages further.
“Herrmans is one of the global leaders in its fields and is well positioned for future growth. We are glad to have Sponsor as a new majority owner that will embrace and support the execution of our plans for further developing the company”, said Tom Nordström, CEO of Herrmans.
Koninklijke Van Zanten Group is a well-known breeder of lilies, chrysanthemums, alstroemerias and other products among growers all over the world. Financial terms were not disclosed.
“The financial scope created by this transaction enables us to take the steps that are now necessary to raise our professional standard and so serve our customers even better,” explained Sjoukje Heimovaara, general director at Royal Van Zanten. “And the practical experience of Nimbus will be excellent to help us optimise our production processes even further. In the years to come we will continue to grow with their support.”
The board of Royal Van Zanten will remain the same, and the takeover will not have any staffing consequences.
CVC closing in on a £225m deal for a stake in UK rugby union.
According to a Financial Times report, the potential acquisition of a minority stake in Premiership Rugby may be finalized with the private equity firm as soon as this week. The deal comes months after Premiership Rugby rejected the initial bid by CVC worth £275m ($345m) for a 51% stake.
PNB and EPF acquired Battersea commercial property for $2bn.
Malaysia’s largest asset management firm Permodalan Nasional Bhd and state pension fund Employees Provident Fund acquired the commercial assets at London’s Battersea Power Station for £1.58bn ($2bn).
The assets were acquired from a consortium made of Malaysian property developers SP Setia Bhd and Sime Darby Property Bhd. The acquired real estate is mostly comprised of retail and office spaces. The deal is expected to close in the first quarter of 2019.
StanChart sold its private equity portfolio to Intermediate Capital Group.
Standard Chartered, a British multinational banking and financial services company, expects to take a restructuring charge of about $160m from the sale. Exact financial terms were not disclosed.
The assets being acquired will be directly managed by Affirma Capital, a newly-formed company consisting of the former Standard Chartered private equity team.
RSK raised major financing from Ares Capital Management.
Engineering and environmental services company RSK Group will use the funding to finance its strategic planned doubling in size over the next few years through the development of new businesses and the acquisition of bolt-on complementary businesses.
RSK’s founder and CEO, Dr Alan Ryder, says: “We were pleased that Ares was able to provide us with a funding strategy that left the equity in the hands of our leadership team and employees so that RSK staff will benefit from their hard work. The financing gives us the financial clout to continue our track record of acquiring businesses built by entrepreneurs that have a strong culture and loyal staff. “
AMERICAS
Keystone Capital acquired marketing technology provider MERGE.
MERGE is an integrated agency combining strategy, creativity, and technology to address clients’ business challenges and customer engagement needs. Financial terms were not disclosed.
“Keystone is excited to partner with the talented team at MERGE to continue building on their success serving clients at the intersection of marketing and technology,” commented Bill Sommerschield, principal at Keystone Capital. “We and management see a substantial opportunity to further enhance MERGE’s differentiated capabilities, end-market expertise, and client-centric service approach through internal growth and talent development initiatives as well as targeted acquisitions.”
JEGI advised MERGE. Honigman Miller Schwartz & Cohn advised Keystone Capital. Wintrust Bank provided debt financing.
Carlyle on the brink of acquiring StandardAero from Veritas for $5bn.
StandardAero is a maintenance, repair and overhaul provider based in Scottsdale, Arizona. The deal to acquire the company could be worth more than $5bn, including debt, and could be announced this week. Veritas acquired StandardAero from Dubai Aerospace Enterprise for $2.1bn in 2015.
The StandardAero deal would be Carlyle's second major leveraged buyout this year. It acquired Akzo Nobel's chemicals business for €10.1bn ($11.5bn) in October.
Jack in the Box explores sale.
Jack in the Box, an American fast-food restaurant chain, held talks regarding the sale of the company with potential buyers. Jack in the Box did not disclose the parties it was in talks with, but Reuters reported last month that its suitors included private equity firms. The company’s current recapitalization stands at about $2.2bn.
Shares of Jack in the Box rose by 7% in response to the news.
APAC
Byju’s raised $540m in a financing round led by Naspers.
Byju’s, Bangalore-based educational technology and online tutoring firm, raised $540m in a financing round led by Naspers. Canada Pension Plan Investment Board General Atlantic also participated in the round which ultimately valued Byju’s at $3.6bn.
“We are happy to have prominent and long-term partners like Naspers and CPPIB on board with us. This partnership will strengthen our ability to deliver on our vision to build the world’s largest education company. India has the largest school-age population in the world and Indian households are willing to invest a lot in their children’s education because a good education is the best path to success. I believe the importance of quality education amongst the entire population in India fueled our ability to create an engaging and high-impact learning app,” said Byju’s founder Byju Raveendran in a statement.
ADV Partners raised $597m for its new fund.
ADV Opportunities Fund II is the second fund of ADV Partners, an Asian private equity firm with offices in Hong Kong, Singapore, Shanghai and Mumbai. The fund will invest in Asia, across various industry sectors. ADV’s debut fund pooled in $545m in 2015.
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