EMEA
CVC Capital Partners to buy back 75% stake in Ahlsell for SEK18bn.
CVC Capital Partners made an offer for Ahlsell, a Swedish construction materials company, of 55 Swedish crowns per share, valuing it at about SEK24bn ($2.65bn). Total value of the offer is about SEK18bn ($2bn). The price represents a premium of 32.5% to the Ahlsell's closing price the day before. CVC Capital Partners listed Ahlsell two years before. The private equity firm is Ahlsell's biggest shareholder with a 25% stake. CVC, which is making the bid through Quimper AB, a CVC-backed entity, said it would not increase its offer.
Soren Vestergaard-Poulsen, a Managing Partner at CVC, said: "Our experience and history with the company provides us with the ability to help it grow further across its core segments and industries, delivering top quality services and value for all stakeholders."
Goldman Sachs and Carnegie Investment Bank are financial advisors, and Roschier Advokatbyra, Freshfields Bruckhaus Deringer and Clifford Chance are legal advisors to Quimper in connection with the offer.
Danske Bank's pension unit Danica has divested the Swedish part of its business to a private equity consortium for around SEK2.6bn ($288m). The consortium is led by Nordic private equity fund Polaris and German private equity fund Acathia. Institutional investors Sampension and Unigestion are also part of the consortium.
"The sale does not affect Danske Bank's growth strategy in the Nordic markets," said Jacob Aarup-Andersen, the head of the bank's wealth management activities said.
Mid Europa Partners to buy intive from Enterprise Investors for €100m.
Mid Europa Partners is to acquire intive SA, a provider of software development services with over 1,600 qualified specialists in 19 offices worldwide, from Enterprise Investors. Mid Europa will acquire 100% stake for €100m ($113.9m).
Kerim Turkmen, Partner of Mid Europa, said: "We are excited to be teaming up with intive's management team and have been particularly impressed by the Company's highly-skilled workforce and their ability to develop best-in-class software and digital applications for leading companies worldwide. Combined with a strong reputation and a unique geographical delivery footprint, intive is well-positioned to continue benefiting from the accelerating digital transformation trend driving the demand for software engineering and design services."
Mid Europa were advised by William Blair, Avendus, White & Case, Clifford Chance, Dechert, BCG and PwC.
3i-backed Hans Anders acquired eyes + more for €60m from Vendis Capital.
3i Group plc and Hans Anders acquired eyes + more, a fast-growing value-for-money optical retailer in Germany with additional presence in the Netherlands, Belgium and Austria. The sellers are Vendis Capital and a group of managers and private investors. 3i expects to invest up to c. €60m ($68.4m) in Hans Anders to support the transaction. Founded in 2005 in the Netherlands, eyes + more operates 170 stores.
Boris Kawohl, Partner, 3i Private Equity, said: "This is an important acquisition for Hans Anders and fits well with 3i's investment strategy of driving international growth in the value-for-money space. It brings a strong geographical fit and an organic growth platform in the sizeable German optical retail market."
Monaghan Mushrooms to increase stake to 100% of Walkro from Gimv and management.
Irish company Monaghan Mushrooms, one of the world's largest substrate and mushroom companies, has agreed to acquire all shares of Walkro, one of the largest producers of a substrate for the mushroom industry, held by Gimv and Walkro's management.
At the end of 2011, Walkro was acquired by operating partner Monaghan Mushrooms, together with financial investor Gimv and Walkro's management team. Today, co-shareholder Monaghan buys out both Gimv and management, becoming the group's sole shareholder. Financial details were not disclosed.
Stamina Group (including Stamina Helse AS and Avonova Holding AB) is the leading provider of Occupational Health Services in the Nordics with a nation-wide presence in Norway and Sweden.
"We see significant growth opportunities to expand the traditional realms of the industry and look forward to working together with management to create more value for Stamina's and Avonova's clients empowering companies and employees to take charge over their own health", said Henning Vold, Partner at Norvestor Equity.
Herkules Capital was advised by DNB Markets, Schjodt, and PwC.
Servelec Controls confirmed a successful management buy-out led by Managing Director Andrew Mills, backed by Alcuin Capital Partners. Financial details were not disclosed.
Graham Morrison of Alcuin Capital Partners confirmed the investor's backing of Andrew and the Servelec Controls business: "We are delighted to complete our investment in Servelec Controls, a strong business underpinned by outstanding engineering expertise and with significant opportunities for growth."
The Controls management team was advised on the transaction by Park Place Corporate Finance.
RCF Group, one of the fastest growing organizations in the Pro Audio market, signed a definitive agreement for the acquisition of DPA Microphones A/S, premium brand in the high-end professional audio microphone market for the live, broadcast, theatre and studio end-user segments, from The Riverside Company.
Arturo Vicari, CEO of RCF Group, stated: "We can now offer the complete audio chain, from microphones to speakers for the satisfaction of professionals around the world."
Chiomenti provided legal assistance on the transaction for RCF Group, which was also assisted by New Deal Advisors for financial due diligence and by Deloitte for tax and legal due diligence.
Motive Partners signed an agreement to acquire a controlling interest in Finantix, a leading provider of technology enabling the digitalization of omnichannel advisory, sales and services processes for private banks, wealth managers and insurance companies.
Andy Stewart, Industry Partner at Motive Partners, said: "We see a substantial opportunity within this space, with Finantix well positioned to continue their strong growth. Motive Partners will bring to bear our sector-specialist expertise and capabilities to build on the company's strong foundations to achieve our shared vision."
Motive Partners was advised by Proskauer and Ernst & Young in connection with the
transaction. Finantix was advised by Osborne Clarke as legal advisor in connection with the transaction.
AMERICAS
Rice brothers want to have a say in running Rice Energy Inc.
Toby Z. Rice and Derek A. Rice, the co-founders of Rice Energy Inc., which they sold to EQT Corp., want to have a say in the natural gas operations they used to oversee, and they have the backing of hedge fund giant D.E. Shaw & Co. and the energy company's former CEO.
Rice brothers said that the company's operations and stock price are underperforming. They outlined a plan to cut costs and improve cash flow and said they had private talks with EQT Chairman Jim Rohr and Chief Executive Officer Rob McNally in recent weeks, but there wasn't "reciprocal engagement."
D.E. Shaw, which holds 3.6% of EQT believes the company needs to replace members of its board including its chairman, and that it needs to bring in outside operational leadership, including Toby Rice, to improve its performance.
APAC
Castlelake to buy planes from AirAsia for $800m.
U.S. private investment firm Castlelake LP is to buy a portfolio of about 30 narrowbody planes from AirAsia Group Bhd for a total price of $800m.
The deal underscores the strong appetite of funds to invest in the global aircraft leasing sector, which is benefiting from growing demand on the back of a rise in low-cost carriers and passenger traffic.
Ministry of Finance controlled SPV will acquire RM19.9bn of Tabung Haji's assets.
Lembaga Tabung Haji, the Malaysian hajj pilgrims fund board, said the special purpose vehicle under the Ministry of Finance will be acquiring RM19.9bn ($4.7bn) worth of the pilgrim fund's underperforming properties and equities, in exchange for RM10bn ($2.3bn) in sukuk and RM9.9bn ($2.3bn) in Islamic redeemable convertible preference shares. Of the assets to be transferred to the SPV, 80% of the total value comprises equities while properties account for the balance 20%.
On completion of the exercise, TH is expected to have RM77bn ($18.4bn) in assets, including the sukuk and RCPS-i issuance, to match RM77bn ($18.4bn) in liabilities for the financial year ending Dec 31, 2018, enabling it to continue paying dividends to depositors.
Sailing Capital looks to raise $1.5bn for its second fund.
The Chinese private equity house, which invests in overseas companies, reached out to potential investors, including sovereign wealth fund China Investment Corp. The sophomore fund will focus on consumer, healthcare and technology investments. In 2013, Sailing raised about $1bn for its debut fund.
The newly formed fund could close in the next few months.
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