Bank of Scotland backs Figurevalue
Bank of Scotland Corporate Banking has provided £18.5m finance package to Figurevalue, part of the Modus Properties Group that specialises in development projects within the property sector. The funding will enable Figurevalue to re-develop and expand Windmill Shopping Centre, a major retail development in Smethwick, West Midlands.
Figurevalue specialises in seeking and acquiring existing retail property opportunities and releasing the value of each portfolio. The firm’s assets include Peterlee Town Centre in County Durham, Colywn Bay Shopping Centre in Wales and Nelson Shopping Centre.
EQT acquires VTI Hamlin
EQT Northern Europe private equity fund has acquired Finnish technology company VTI Hamlin from Breed Technologies. VTI’s area of business is the design and production of acceleration, motion and pressure sensors with turnover reported to be in the region of E60m.
VTI has manufacturing facilities in Finland and Mexico with the firm’s head office and research and development facilities located in Finland. EQT is a group of private equity funds with equity commitments of over E3bn. The funds are sponsored by Investor AB, the publicly listed holding company of the Wallenberg foundations.
Enterprise Investors backs PGGO
Enterprise Investors (EI), the largest independent venture capital group in Poland, has invested $5m in the Polish Waste Management Group (Polska Grupa Gospodarki Odpadami). Enterprise intends to use the investment as a first step in consolidating the Polish industrial waste processing industry. The investment comes from EI’s Polish Enterprise Fund IV.
EI said that Polish Waste Management Group will acquire and develop industrial waste management companies operating in Poland. It added that the investment opportunity has emerged as a result of legislative changes, which have brought Polish environmental legislation in line with EU regulations.