The Royal Bank of Scotland Group has agreed a pre-IPO investment in its Williams & Glyn's bank brand with a consortium of investors led by global financial services specialists Corsair Capital and Centerbridge Partners. The Williams & Glyn's business comprises 308 RBS branded branches in England and Wales; 6 NatWest branded branches in Scotland; the retail and SME accounts attached to these branches; the direct SME business and certain Mid-Corporate customers across the UK.
7 min read · 30 September 2013
Arle Capital Partners has agreed the sale of Qioptiq, a global designer and manufacturer of photonic products and solutions, to Excelitas Technologies Corp. The transaction is expected to close in the next quarter and is conditional on, amongst other things, customary regulatory approvals.
3 min read · 30 September 2013
Arle Capital Partners has refinanced portfolio company Hilding Anders International. As part of the refinancing process Hilding Anders has also entered into an agreement with funds managed by KKR Asset Management to invest in a subordinated position in the capital structure. Arle remains the leading shareholder in the business.
4 min read · 30 September 2013
UK-based YFM Equity Partners has backed the management buyout of Douglas Gill International, the Nottingham based manufacturer of technical sailing clothing and accessories, for an undisclosed sum following a sales process led by Clearwater Corporate Finance. Yorkshire Bank provided debt funding and working capital facilities to support the deal.
4 min read · 30 September 2013
Last week, human resources experts from The Buller Group addressed Blackstone's inaugural veterans hiring summit regarding the hiring of military veterans across the private equity firm's portfolio companies. In support of the White House's Joining Forces initiative, Blackstone committed to hiring 50,000 American veterans across its portfolio of 78 companies over the next five years. The summit was designed to help chief human resource officers within Blackstone's portfolio companies learn to hire and retain veterans and to help the U.S. Military and veterans organizations learn how they can help facilitate this recruitment initiative.
3 min read · 30 September 2013
Catch up on the latest after the weekend with this morning's First Read including news of Europe's new PE heavy weight; StepStone to acquire Greenpark Capital and Siemens making job cuts.
1 min read · 30 September 2013
The Siemer Silicon Beach Summit has announced that as part of the annual WaveMaker Awards, it will be awarding one start-up a new prize valued at $160,000. The group of 40 judges include Mark Yi of Intel Capital, Brian McLoughlin of Upfront Ventures, Patrick Burtis of Amadeus Capital, Austin Noronha of Sony Ventures, Manish Patel of Highland Capital, Bill Woodward of Anthem Ventures, Andrew Clelend of Comcast Ventures, and Vishnu Menon of Warburg Pincus, among others.
4 min read · 26 September 2013
Flow International Corporation, a developer and manufacturer of industrial waterjet machines for cutting and cleaning applications is to be acquired by American Industrial Partners. The transaction is valued in excess of $200 million.
4 min read · 26 September 2013
Business Growth Fund has backed VTL Group, a manufacturer of precision-engineered components for the automotive industry. This is BGF’s 10th investment in the manufacturing sector and its first in the automotive industry.
5 min read · 26 September 2013
TVV Capital has acquired Pitonyak Machinery Corporation. The acquisition supports the continued buildout of Bigham Brothers, a TVV portfolio company acquired in late 2012. Terms of the transaction were not disclosed.
3 min read · 26 September 2013
