Buckeye Partners sold its stake in Vitol backed VTTI for $975m.
Vitol Investment Partnership II Ltd, an investment vehicle sponsored and managed by Vitol, and IFM Investors, a global institutional funds manager, have agreed to acquire Buckeye Partners LP’s 50% equity interest in VTTI BV, the leading global independent provider of energy storage.
Buckeye said it would get $975m in cash.
On completion, VTTI will be owned 50% by IFM and 50% by Vitol and VIP. It will continue to be managed by an independent management team led by Rob Nijst, CEO.
Vitol was advised by Citigroup.
Denmark’s largest Electronics Manufacturing Services company GPV will acquire the Swiss-based EMS company CCS. The transaction will lift GPV’s revenue by €190m ($216m) to about €350m ($398m) and place the company among the largest EMS companies in Europe. Financial terms were not disclosed.
“At the beginning of 2018, we announced a new and ambitious growth plan for GPV with a revenue target of DKK 2.5bn ($412m) by 2022. Things have evolved faster than we had expected, and now, we have signed an agreement to acquire CCS that will both allow us to meet our strategic ambition and to create an EMS leader in electronics focused on box-build and mechatronic products.” Bo Lybæk, GPV CEO.
GPV was advised by Clearwater International.
One Equity Partners acquired Alltub from Aurora Capital Group.
One Equity Partners, a middle-market private equity firm, has acquired the Alltub Group, a market leader in aluminum and laminate specialty packaging for the cosmetics, pharma, food and industrial end markets, from Aurora Capital Group. Financial terms were not disclosed.
"One Equity Partners has significant experience in the packaging industry and a notable track record of building successful companies. Alltub fits perfectly into our portfolio. With a resilient business model and the clear potential to become a world-leading tube and aerosol player, Alltub is an ideal platform for buy-and-build opportunities in a consolidating market." Johann-Melchior von Peter, One Equity Partners Senior Managing Director.
Aurora Capital Group was advised by Lincoln International and Jones Day.
IK Small Cap II Fund together with the founders has reached an agreement to acquire SCHEMA Group, a leading developer and provider of software solutions for demanding product-and process-related content. Financial terms were not disclosed.
“SCHEMA is an innovative niche market leader addressing global trends which will become fundamentally important to every company. It's impressive blue-chip and loyal client base demonstrates SCHEMA’s success in providing efficiency and cost benefits to its customers. We are excited to support the Company’s growth and expansion strategy going forward and to work closely with the founders and its strong management team.” Nils Pohlmann, IK Investment Partners Partner.
Total Capital Partners invested in GRITIT.
Total Capital Partners acquired a 40% minority stake in winter services and grounds maintenance company that provides gritting and snow clearance services to commercial properties across the UK. Financial terms were not disclosed.
“GRITIT is an exciting, high growth business that is at the forefront of technology development in its sector. Applying its leading technological edge, it will continue to take winter services market share and continue its expansion into grounds maintenance and landscaping. With a robust capital structure from Total Capital to take the business forward, the business is now very well-placed to increase its market share and capitalise on exciting acquisition opportunities, some of which we have already identified.” Paul Brown, Total Capital Partners Partner.
GAM rebuffed Schroders approach for hedge fund unit.
Schroders has approached Swiss investment group GAM over a potential acquisition of its systematic division that houses the Cantab quantitative hedge fund. GAM has rebuffed the approach, concerned that selling one of its prized assets would make an overall sale more difficult.
Partners Group Considers Sale of Hofmann Menu-Manufaktur.
Swiss alternative investment manager is weighing a sale of German catering company Hofmann Menu-Manufaktur GmbH. The potential transaction could value the company at about €500m ($569m).
Partners Group is advised by Rothschild & Co.
