TriWest and ATRF to invest in NCSG Crane & Heavy Haul Corp

TriWest Capital Partners and Alberta Teachers’ Retirement Fund have agreed to acquire a majority stake in NSCG Crane & Heavy Haul Corp. from its existing shareholders. No financial terms were disclosed for the transaction, which is expected to be completed before the end of this year. Goldman Sachs advised NCSG on the transaction. Based in Edmonton, Alberta, NCSG is a provider of crane and heavy haul services in North America. It is backed by Northwest Capital Appreciation. PRESS RELEASE EDMONTON, ALBERTA–(Marketwired – June 23, 2014) – NCSG Crane & Heavy Haul Corporation (“NCSG”), Northwest Capital Appreciation (“NCA”) and TriWest Capital Partners (“TriWest”) announced today that they have signed an Agreement pursuant to which TriWest and Alberta Teachers’ Retirement Fund (“ATRF”, and together with TriWest, the “Investor Group”) shall acquire a majority interest in NCSG from its existing shareholders. Financial terms of the transaction were not disclosed. The transaction is subject to certain regulatory approvals and is expected to close before year-end 2014. Founded in 1987, NCSG is one of the largest providers of fully operated and maintained crane and heavy haul services in North America, and has over 285 cranes, 235 lines of hydraulic platform trailers, 300 conventional trailers and specialized rigging such as jack and slide systems and hydraulic gantries. This equipment is supplemented by a team of experienced operators, project managers and professional engineers throughout the North/South Energy Corridor stretching from the Yukon to the Gulf Coast. “We believe the outlook for our business has never been better and that the TriWest led Investor Group will be a great partner for NCSG and provide additional capital for us to continue to grow our business and provide even better service to our blue chip North/South Energy Corridor customers,” said Ted Redmond, President & CEO of NCSG. “TriWest has a long history of working with energy and industrial services businesses helping them expand their geographic coverage and offer additional services. This investment will benefit our customers and partners, and provide additional opportunities for our employees.” “We look forward to this new partnership opportunity with the management of NCSG, ATRF and NCA. We believe this group has the experience and resources to build a leading global crane and heavy haul services company,” said TriWest Senior Managing Director, Cody Church. “TriWest is excited to work with this experienced team with a proven track record of success in the industry.” “NCA is excited to continue to be a significant investor in NCSG,” said NCA Managing Director, Brad Creswell. “We are proud to have been part of NCSG’s tremendous success over the last 8 years and believe that with the addition of TriWest our investor group is even stronger.” Goldman Sachs acted as exclusive financial advisor to NCSG on the transaction. About NCSG Crane & Heavy Haul Services
NCSG began as Northern Crane Services. The company was founded in 1987 and purchased in 2006 by an investor group headed by Northwest Capital Appreciation. Since 2006, NCSG has done eight follow-on acquisitions. NCSG, based in Edmonton, Alberta, offers rigging, lifting and heavy haul services throughout the North/South Energy corridor. In Canada, NCSG has branches in Edmonton, Calgary, Leduc/Nisku, Fort McMurray, Grande Prairie, Wabasca and Bonnyville in Alberta; Prince Rupert, Terrace/Kitimat, Fort St John and Tumbler Ridge in British Columbia; and Regina in Saskatchewan. In the U.S., NCSG has branches in Soda Springs, ID; Billings and Sidney in Montana; Williston and Dickinson in North Dakota; and Odessa, Texas. NCSG has a diverse fleet of over 285 cranes ranging in size from 6 to 1350 tons and a specialized heavy haul fleet servicing the refining, oil sands, upstream oil and gas, LNG, mining, infrastructure, and wind/utility industries. About Triwest
Founded in 1998, TriWest is one of Canada’s leading private equity firms, having raised over $775 million of committed capital. We are entrepreneurial, independent and based in Western Canada. About NCA
NCA is a leading private equity firm headquartered in Seattle, Washington with over 20 years of experience. Since 1992, NCA has been involved in leveraged buyouts, consolidations, turnarounds, recapitalizations and growth financings targeting the middle market.    

Riverside Company exits Thibaut

The Riverside Company has exited Thibaut. The business is a designer and distributor of high-end wallpaper, fabric and furniture based in Newark, New Jersey. PRESS RELEASE The Riverside Company has exited Thibaut, a designer and distributor of high-end wallpaper, fabric and furniture based in Newark, New Jersey. During its hold period, Riverside helped Thibaut acquire and integrate an add-on acquisition, enhance its profitability, and launch many new products.

KKR buys stake in Spain’s Acciona energy arm – Reuters

Reuters – Private equity firm KKR (KKR.N) is to buy a one-third stake in the energy arm of Spain’s Acciona (ANA.MC) for 417 million euros ($567 million), the companies said on Tuesday, as they move to develop one of the world’s largest renewable energy portfolios. It was the latest asset sale by a Spanish renewables energy firm after regulatory changes in Spain to cut costly subsidies. The government measures have particularly hurt profit at Acciona’s wind farms. The deal gives Acciona Energia International (AEI), the international renewable energy generation arm of Acciona Energia, an enterprise value (equity plus debt) of 2.6 billion euros, in one of the world’s biggest-ever deals in the renewable energy sector. Half of that enterprise value is in equity and half in net debt, the companies said. The portfolio will include Acciona Energia’s operating renewable assets outside Spain, amounting to 2.3 gigawatts across 14 countries including the United States, Italy and South Africa. The assets largely consist of wind farms, with a few solar plants. The companies are also planning an initial public offering through a vehicle that will hold all or part of AEI’s assets. The public offering would be for a so-called yieldco vehicle, similar to a spinoff by another Spanish renewable energy firm Abengoa (ABG.MC), which recently made public its U.S. subsidiary Abengoa Yield (ABY.O). Yieldcos usually own and operate some assets of their parent companies and have long-term purchase agreements with power utilities, a guarantee of stable cash flow. The KKR-Acciona deal is expected to be closed before the end of the year. Shares in Acciona were last trading up 3.5 percent at 67.24 euros at 0724 GMT (3.24 a.m. EDT).

Japan’s Pioneer to sell audio-video unit to Baring, Onkyo – Reuters

Reuters – Japanese car electronics maker Pioneer Corp has agreed to sell its audio-video operations to Hong Kong-based Baring Private Equity Asia and Pioneer’s Japanese rival Onkyo Corp. Baring will own a 51 percent stake in Pioneer Home Electronics Corp, which makes and sells DVD players, digital photo frames and other audio equipment. The three parties will decide who will own the rest, Pioneer and Onkyo said in a joint statement on Tuesday. The news, first reported by the Nikkei business daily, sent Pioneer shares up 4 percent to close at 229 yen on Tuesday. Shares in Onkyo surged as much as 12.6 percent to 168 yen. The three parties aim to close the deal by the end of August with details, said a Tokyo-based spokesman for Baring Private Equity. Baring Private Equity in April agreed to sell precious metal, diamond and jewellery recycler Net Japan Co to Japanese financial services company Orix Corp for around 21 billion yen. (Reporting by Junko Fujita; Editing by Anupama Dwivedi)

Huron Capital forms new dental platform Spring & Sprout

Huron Capital has launched Spring & Sprout. Based in Michigan, Spring & Sprout will provide support services to dental practices in Ohio. PRESS RELEASE DETROIT, June 23, 2014 /PRNewswire/ — Huron Capital Partners (“Huron Capital”) today announced the formation of a new platform investment in the dental market, and the simultaneous recapitalization of Michigan-based Spring & Sprout Dental Holdings, LLC (“Spring & Sprout”). Spring & Sprout is a dental support organization (“DSO”) formed to provide practice support services to dental specialists in pediatric dentistry and orthodontics. Spring & Sprout will initially provide its support services to dental practices in Ohio, with plans to expand its presence through the Midwest and into the South. In launching this buy-and-build initiative, Huron Capital has partnered with dental industry veteran and Huron Capital operating partner, Michael Schwartz. Schwartz was previously the CEO of Corner Dental, a DSO supporting general dentistry practices in Ohio. Schwartz and Huron Capital formed Spring & Sprout along with fellow industry veterans, Mick Janness and Jim Usdan, with the vision to build it into the largest DSO exclusively serving pediatric and orthodontic specialty dental practices in the U.S. Schwartz said, “We are extremely excited to be partnering with Huron Capital in this endeavor. Huron Capital has significant experience in the DSO space through its investment in Dynamic Dental Partners Group, and we look forward to working alongside Huron Capital to execute our buy-and-build strategy in the pediatric dental specialty market. Spring & Sprout has assembled an excellent team with a strong pipeline of growth opportunities, and we are thrilled to have access to the financial and operational resources of Huron Capital at our disposal to achieve our strategic goals.” Nick Barker, Partner at Huron Capital, added: “Huron Capital is very excited to partner with Michael and his team. They have laid out a very thoughtful thesis around the opportunity in the pediatric dental specialty market, and have built an excellent team to execute their plans. Spring & Sprout has several opportunities for growth and we look forward to supporting them in every way we can.” About Huron Capital Partners LLC
Huron Capital is an operationally-focused private equity investor that seeks to grow lower middle- market companies through customized buy-and-build strategies. Huron Capital pursues opportunities where it can help companies reach their full potential by combining its operational approach, capital base, and transaction experience with proven operating executives. Founded in 1999, Huron Capital has raised over $1.1 billion in capital through four committed private equity funds and its portfolio companies have employed over 7,500 people throughout North America. With offices in Detroit and Toronto, Huron Capital’s buy-and-build investment model includes recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes Specialty Manufacturing, Business Services, Consumer Goods & Services, and Healthcare. For more information, please visit www.huroncapital.com.

Revolution and KSL agree to jointly own wellness spa Miraval

Revolution Places and KSL Capital have agreed to jointly own Miraval Resort & Spa. No financial terms were disclosed. Revolution and KSL are planning on expanding Mirval to new locations. Based in Tucson, Miraval is a wellness luxury spa. PRESS RELEASE WASHINGTON & DENVER–(BUSINESS WIRE)–Revolution Places (Revolution) and KSL Capital Partners, LLC (KSL) today announced that they have entered into an agreement to jointly own the world-renowned Miraval Resort & Spa, headquartered in Tucson, Arizona. Together, KSL and Revolution will seek to expand Miraval from its current Tucson location to new destinations in the US, Europe and elsewhere. “For many years, we have been working to grow Miraval, to bring it to new locations and new people. Partnering with KSL – one of the most accomplished resort and spa investors in the world – allows us to accelerate these efforts, build on our success in Tucson, and take Miraval to new locations around the country and the world,” said Steve Case, Chairman of Revolution. “Miraval is a breathtaking place, not only because of its extraordinary setting in the high Sonoran Desert, but also because of its groundbreaking approach to the experiences it offers its guests. Miraval is a true pioneer in spa and wellness. There is no other place like it. We are thrilled to join forces with Revolution in overseeing this resort,” added Mike Shannon, Managing Director of KSL. Miraval Resort & Spa in Tucson is a wellness luxury spa resort with a mission of “opening eyes, minds and hearts.” Miraval’s focus on sustainable living, casita-style guest accommodations and the spectacular new Life in Balance Spa contribute to it being recognized as one of the world’s top destinations by SpaFinder, Travel+Leisure and Condé Nast Traveler year after year. About KSL Capital Partners, LLC
KSL is a private equity firm specializing in travel and leisure investments in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado, Stamford, Connecticut and London, England. In addition to the property being acquired, KSL’s current portfolio includes some of the premier properties in travel and leisure. In the United Kingdom, funds advised by KSL own The Belfry in the West Midlands and the Malmaison and Hotel du Vin chains. In the United States, funds advised by KSL own The St. Regis Monarch Beach, The James Royal Palm, a majority interest in ClubCorp, one of the world’s largest owners of private golf and business clubs, and Squaw Valley and Alpine Meadows, two of the leading ski resorts in North America. For more information, please see kslcapital.com. About Revolution Places
Revolution Places invests in unique real estate and hospitality opportunities, creating a new model for travel and tourism that promotes and encourages a healthy lifestyle and establishes a consumer brand that reflects those values. Revolution invests in differentiated properties that have significant long-term development potential, and also in branded, lifestyle hospitality companies that have the opportunity to scale. Revolution Places is a division of Revolution LLC, the Washington, DC-based investment firm founded by Steve Case in 2005. For more information, visit revolution.com/places. About Miraval Resort & Spa
Situated in the warm shade of the Santa Catalina Mountains in northern Tucson, AZ, on 400 acres of idyllic land, Miraval is a top-rated all-inclusive destination resort and spa dedicated to helping guests live life in the moment. Since 1995 the property has been consistently ranked as one of the world’s top destination spas by Travel + Leisure, SpaFinder and Condé Nast Traveler. Offering an array of dynamic growth and development programs, one-of-a-kind, luxurious spa treatments, authentic, flavorful and healthful cuisine as well as an expert staff of renowned wellbeing specialists, Miraval helps to open eyes, minds and hearts. In 2012, the resort unveiled the Miraval Life in Balance Spa with Clarins, a state-of-the-art oasis designed to transform guests both physically and emotionally. For more information visit miravalresorts.com.

Versa recaps Bell and Howell and spins off BCC Software from it

Versa has completed a recapitalization of Bell and Howell, a global provider of multi-channel communications solutions for print. No financial terms were disclosed. Also, Versa has spun off BCC Software, a postal software solutions and data marketing company, from its parent Bell and Howell. BCC President Christopher G. Lien will remain in his position. Versa has majority ownership stakes in both Bell and Howell and BCC. PRESS RELEASE PHILADELPHIA–(BUSINESS WIRE)–Versa Capital Management, LLC (Versa) announced today that it has created BCC Software (BCC) as a new company independent of its former parent, Bell and Howell, LLC. BCC has a broad reputation as an industry leader in postal software solutions and data marketing services. Versa holds majority ownership positions in both Bell and Howell and BCC, and in connection with the transaction Monroe Capital has provided BCC with a new revolving credit and term loan facility to support its growth. Christopher G. Lien, President of BCC, will continue to lead the company. Lien has spent more than 22 years in the data and mailing industries and has received national recognition for his contributions, most recently in his industry election as Industry Chair of the Postmaster General’s Mailers Technical Advisory Committee, a 49-year-old organization with more than 150 members of the mailing industry. “We believe that there are many benefits to be gained by both Bell and Howell and BCC with BCC operating independently,” stated BCC Chairman and Versa CEO Greg Segall. “BCC is the leader in postal software solutions and data marketing services. As it expands into new markets with new services and solutions offerings, BCC’s growth will best be accomplished as a stand-alone business. Chris has an exemplary, productive team, and we are committed to supporting their efforts both operationally and financially. Additionally, Bell and Howell is now in a better position to focus on its core competencies and continue to deliver valued products and services to its customers and partners.” Ramesh Ratan, Bell and Howell CEO, declared that this transition will make the two businesses stronger. “The BCC spin-off allows Bell and Howell to retire its outstanding third party debt under its credit facility with our valued lending partners PNC Business Credit and Crystal Financial, further advancing our organizational progress. We’re excited about Bell and Howell’s opportunity set, and the team and I remain committed to realizing them through the continued execution of our own growth strategy. At the same time, BCC Software as an independent business will benefit from the focus, oversight and capitalization that come with being a free-standing business. This transition stands to make the two independent businesses stronger while BCC remains an important strategic partner with Bell and Howell as we work closely to create new services and solutions for our customers.” Lien confirmed “this is an exceptional time in BCC’s development. As we continue to focus our support and services for our existing customers, we envision new products and services for current and new customers and expansion into new markets. We look forward to working with the team at Versa and to continuing our partnership with Bell and Howell.” About Versa Capital Management, LLC
Based in Philadelphia, PA, Versa Capital is a private equity investment firm with more than $1.4 billion of assets under management and focused on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. Versa’s portfolio includes retailers Avenue Stores and Eastern Mountain Sports; defense contractor Allen Vanguard; boat manufacturer Hatteras Yachts; branded specialty fabric manufacturer Polartec; and community newspapers under Civitas Media. More information can be found at www.Versa.com. About BCC Software
Based in Rochester, NY, BCC Software creates innovative postal software solutions and provides extensive data marketing services. The company was founded in 1978 and delivered mailing technology solutions under the BCC name for more than 30 years until its purchase by Bell and Howell in 2005. BCC employs approximately 75 people. More information on BCC can be found at www.bccsoftware.com or by calling 800-624-5234. About Bell and Howell
Bell and Howell is a trusted partner to our customers in their critical touch points with their own customers. Our customers include many of the world’s largest providers in banking, insurance, telecommunications, public utilities, postal, freight operators, governments and print and mail service bureaus. As the pioneer of production mail inserting and sorting systems, we have evolved our competencies in service, software and hardware technologies to enrich customer communications and commerce in print, mail and parcels operations and information infrastructure. Supporting these solutions is one of the largest technical service organizations in the industry across the U.S., Canada, U.K. and Germany. Headquartered with manufacturing in Research Triangle Park, N.C., the company maintains engineering, sales and business presence in Wheeling, Ill., Dallas, TX., Allentown, Pa, Waterloo, Ontario, Canada U.K. and Germany. For further information, please visit www.bellhowell.net.

Riverside acquires Global Orthopaedic Technologies

The Riverside Company has acquired Global Orthopaedic Technologies. The business is an Australian manufacturer and distributor of orthopaedic implants. PRESS RELEASE The Riverside Company has acquired Global Orthopaedic Technologies.
“Global has an enviable product portfolio and a history of innovation,” said Riverside Partner Simon Feiglin. Cleveland, Ohio (PRWEB) June 23, 2014 The Riverside Company has acquired Global Orthopaedic Technologies (Global), an Australian manufacturer and distributor of orthopaedic implants. With two research, design and manufacturing facilities in Bella Vista and Seven Hills in New South Wales, Global supplies implants and instrumentation for hip, knee, shoulder and spine surgeries, along with related orthobiologics. Riverside has partnered on the transaction with Andrew Fox-Smith and Duncan Lilley. Fox-Smith is a former Group President – International with Stryker Corporation, and has more than two decades of experience in the global orthopaedic market. Fox-Smith will serve as CEO. Lilley has most recently held senior roles with British Standards Institution (BSI) and SAI Global and will serve as COO. Global was established in 1999 by Mike Ribot and Steve Banks and has grown to become the largest Australia-owned orthopaedic implant designer and manufacturer. Ribot and Banks will continue to be involved with Global as shareholders and senior managers, providing a wealth of knowledge and experience in the Australian orthopaedic industry. “Global has an enviable product portfolio and a history of innovation,” said Riverside Partner Simon Feiglin. “They’re a growing company in an expanding market thanks to offering products and services that are valued by surgeons and relied upon by patients in Australia and increasingly around the world.” “We are delighted to partner with Riverside and Andrew Fox-Smith, who bring their vast international experience to Global, enabling us to develop new and exciting growth opportunities,” Ribot said. “When Steve and I started Global, it was with a vision to create a multinational orthopaedic business and this transaction is an important milestone in realizing that vision.” Riverside’s deep experience in the healthcare sector includes more than 70 investments in the space, supported by a dedicated team of specialists who can help Global identify new opportunities and enter new markets. “By partnering with Riverside, we have an exciting opportunity to not only organically expand Global, but also look at value-added acquisitions that can accelerate our growth objectives,” said Fox-Smith. “Global offers a comprehensive suite of products, has a demonstrated ability to develop and commercialize new products, and works closely with some of Australia’s leading orthopaedic surgeons. We intend to build on this success and open doors to new relationships and new opportunities to position the company for continued and long-term success.” Working with Feiglin on the deal for Riverside was Vice President Steven Spiteri and Associate Bo Heitz. Babson Capital and Commonwealth Bank of Australia provided financing for the transaction. Jones Day, Deloitte, KPMG and AT Kearney advised Riverside on the deal. The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 340 transactions. The firm’s international portfolio includes more than 70 companies.

KKR Asset Management provides long term financing package to Selecta

KKR Asset Management is providing a long term financing package to Selecta. Selecta is a pan-European vending machine operator. PRESS RELEASE KKR Asset Management LLC (“KAM”), a leading sub-investment grade manager wholly-owned by Kohlberg Kravis Roberts & Co. L.P. (“KKR”), announced today that it has agreed to provide €220m long term financing to Selecta (“the Company”). The investment is part of a comprehensive re-financing of the Company’s capital structure, providing flexibility for investments in the machine park and implementation of the ongoing growth strategy. “The notable interest for our financing demonstrates the confidence the financial markets have in Selecta’s sustainable business model. We are confident that based on the strategic initiatives and efficiency measures implemented over the past 18 months Selecta is well positioned to further strengthen its leading market position going forward” Selecta is Europe’s largest independent pan-European vending machine operator, with operations in 21 countries, including France, Switzerland, Sweden, UK and Germany. The company operates c. 135,000 vending machines, employing c. 4,500 people, and serving over 6 million customers daily. Selecta’s business is made up of a combination of private vending, public vending, office coffee services, trade business and technical services. Mark Brown, a London-based Director on KKR’s Special Situations team, commented: “We look forward to partnering with Selecta and ACP. We believe the company now has the liquidity and a long-term, patient capital structure to pursue several attractive strategic initiatives. Over the past several years, our Special Situations team has deployed over $3.8 billion of special sits and private credit, supporting companies across Europe. Our investment funds provide long-term capital and offer a solution to companies who seek access to diversify their sources of funding.” Remo Brunschwiler, CEO of Selecta said: “Since the beginning of 2013, we have managed to implement successful measures leading to improvements to the business and set the course for further growth. The refinancing helps us to drive the identified growth initiatives such as the further roll-out of Starbucks Corner Cafes and the introduction of newly developed vending machines into the market.” “The notable interest for our financing demonstrates the confidence the financial markets have in Selecta’s sustainable business model. We are confident that based on the strategic initiatives and efficiency measures implemented over the past 18 months Selecta is well positioned to further strengthen its leading market position going forward,” said Joerg Spanier, Managing Director at Allianz Capital Partners (ACP).
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About Selecta: Selecta is the undisputed European market leader in vending machines, vending services and vending solutions. Selecta was founded in Switzerland in 1957. Selecta is the largest European vending company operating about 140,000 vending machines in 21 countries, serving some 6 million consumers every day at the workplace and on-the-go with revenues over € 740 million. Selecta employs over 4,500 people in 250 Selecta branches. The company offers food and drinks vending solutions in all business segments – from office to healthcare and education and everything in between. In autumn 2012, Selecta introduced its exclusive and bespoke hot drinks machine called Ferrara, and has installed to-date over 2.700 of these machines across Europe. In summer 2013, Selecta introduced the Starbucks Corner Café concept as a premium self-service drinks point, which Selecta exclusively services in 11 countries across Europe. About KKR KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com. About KKR Asset Management KAM invests on behalf of its managed funds, clients and accounts across long/short equities and the corporate credit spectrum, including secured credit, bank loans and high yield securities and alternative assets such as mezzanine financing, special situations investing and structured finance. With 80 investment professionals, with a large team based in Europe, KAM’s investment teams are closely aligned with KKR’s wealth of private equity investment and industry resources. KAM has approximately $23.0 billion of assets under management as of March 31, 2014. About Allianz Capital Partners Allianz Capital Partners (ACP) is the captive, alternative asset platform of Allianz Group with assets under management of about 9.4 billion euros. ACP’s investment strategy is driven in particular by matching the long-term obligations of the Allianz Group’s life insurance businesses with assets that generate long-term, stable and inflation-protected cash flows provided, for example, by investment opportunities in the infrastructure and renewables sector. Together with its customers and sales partners, Allianz is one of the strongest financial communities. Around 78 million private and corporate customers rely on Allianz’s knowledge, global reach, capital strength and solidity to help them make the most of financial opportunities and to avoid and safeguard themselves against risks.

Genzum gets backing from SG

SG‘s alternative investments division has increased its investment in pharmaceutical company GENZUM by up to $20 million with a portion of the investment reserved for additional growth capital. Dovi Frances, president of SG will join GENZUM’s board. PRESS RELEASE SG, LLC announced today that the firm’s Alternative Investments Division has increased its investment in GENZUM by up to $20MM, with a portion of the investment reserved for additional growth capital. Dovi Frances, President of SG, LLC, will join GENZUM’s board. “With a unique and scalable business model, significant partnerships with leading pharmaceutical companies, and the solid leadership of CEO Chris Achar, COO Rajin Ahuja, and CSO Dr. Nehru Gaddipati, GENZUM provides a rare and valuable opportunity for SG to invest in a promising pharmaceutical company that is capable of massive growth,” said Frances. The growth capital, which will allow GENZUM to expand their pipeline of generic pharmaceutical products, adds to the $258MM SG, LLC has already invested in capital markets, private equity, pharmaceuticals, real estate, and technology. GENZUM’s CEO Chris Achar commented, “SG, LLC is a well-regarded firm that adds instant value to our business. Their significant resources, infrastructure and strategic synergies compliment well with our autonomy as a high-growth pharmaceutical company. With SG, LLC’s backing, GENZUM is better positioned to become a leader in the development, commercialization and out licensing of niche generic pharmaceutical products”. About SG, LLC: SG, LLC is a global advisory firm with offices in the United States, Russia, and Israel. SG, LLC provides high net-worth clients with unique solutions to their complex financial needs. Each of the firm’s divisions mirrors the five elements that encompass the financial ecosystem of a high net-worth client: Lending, Insurance, Operations, Alternative Investments, and Asset Management. To date, SG, LLC has facilitated over 940 Million USD in completed transactions through its Lending, Insurance, and Operations Divisions and has directly invested over 258 Million USD through its Alternative Investments and Asset Management Divisions. About Genzum Life Sciences: Genzum Life Sciences is a pharmaceutical company focused on the development, commercialization and out licensing of niche ANDA (generic) pharmaceutical products. Utilizing an innovative ecosystem of best in class facilities and expert pharmaceutical development and clinical trials capabilities, Genzum operates throughout the pharmaceutical development cycle. From product selection and formulation to clinical trials and FDA approval, Genzum product lines have been in-licensed by leading pharmaceutical companies; decreasing costs, increasing market value and improving the lives of many. Genzum is headquartered in Los Angeles, CA; with offices in New York, Chicago and India. SOURCE SG, LLC

KT Capital acquires Advanced Estimating Systems

Advanced Estimating Systems has been acquired by KT Capital. The business provides computer-assisted estimating for the construction industry. PRESS RELEASE Advanced Estimating Systems, a leader in computer-assisted estimating for the construction industry announced today that it was purchased by KT Capital, a leading Private Equity firm based in Atlanta. The purchase was concluded on January 31st, 2014 with Peter Kacer and Jim Tapp from KT Capital assuming leadership of the new company’s Board of Directors. “The EDGE is the leading construction estimating software package for several trades – including roofing, drywall and fireproofing, having been in the business for over 25 years. We intend to further develop these products going forward, and to continue the successes realized by the former owners,” said Peter Kacer, a managing director with KT Capital. The company will operate as The Estimating Edge and will feature new branding, a new website launching today (www.edgeestimating.com), and a renewed focus on driving product innovation. Leading this change is the company’s new president, Brian Fugere. Most recently the chief operating officer at RemitDATA, Inc., Fugere is a software industry veteran with deep roots in marketing, product management, and sales. “I’m excited about the opportunity at The Estimating Edge,” said Fugere, “The legacy commitment to supporting our customers is something we’ll continue to preserve while driving new features and functionality into our software. Ultimately, our job is to make our customer’s jobs easier and that’s our singular focus”. Coincident with today’s announcement, the company is releasing the latest version of its flagship product, The EDGE 10.7.6, to its customers. According to Fugere, “This version of The EDGE represents a significant step forward in providing our customers with a more efficient and complete estimating package. Future versions will be even more impressive.” Current customers will be contacted by the company to schedule their upgrade. “We are happy to have Brian Fugere join our team at The Edge, and believe that the future opportunities for The EDGE and our construction estimating products are significant,” said Jim Tapp, a managing director with KT Capital. About The Estimating Edge The Estimating EDGE is the leading provider of estimating software for the construction industry. Since 1986, the company has helped its customers win over $50 billion in projects through increased accuracy and greater efficiency in their estimating process. The Edge’s total focus is on providing its customers with the highest quality software, most complete training, and most responsive support in the industry. About KT Capital KT Capital is an Atlanta based private equity fund investing in lower middle market opportunities, with a focus on profitable and growing businesses led by Founders and strong management teams.

H.I.G. Capital acquires light industrial assets in the Netherlands

Bayside Capital, a credit affiliate of H.I.G. Capital, has acquired two portfolios of light industrial assets in the Netherlands. The two portfolios consist of nine industrial estates. PRESS RELEASE Bayside Capital, a credit affiliate of H.I.G. Capital, announced the purchase of two portfolios of light industrial assets in the Netherlands. The two portfolios have been acquired for a combined value of approximately €44m and consist of nine industrial estates.
The properties were purchased by MBay Light Industrial, a joint venture established by a private investment fund managed by Bayside Capital in partnership with specialist asset manager M7 Real Estate, which was formed to acquire high yielding multi-let industrial assets in the Netherlands. With the latest transaction, Bayside has now acquired three light industrial portfolios with over €100M of gross asset value. Ahmed Hamdani, Managing Director at Bayside Capital said, “We are pleased to continue our investment programme in the Dutch market and to be working again with M7 in this transaction. We are focusing on asset management, which will include substantial capital investment to improve occupancy, income and ultimately capital values. We believe the Netherlands market continues to present excellent value and this transaction reflects H.I.G.’s commitment to continue expanding its already significant European real estate holdings.”
About Bayside Capital
Bayside Capital is an affiliate of H.I.G. Capital, a leading global private investment firm with more than $15 billion of equity capital under management. With over $4.5 billion of committed capital, Bayside is focused on providing capital solutions to address complex situations within short timeframes. Through improved access to capital or facilitating balance sheet realignments, Bayside can help support future strategies and expansion plans. Bayside has the ability to provide capital through a broad range of securities including asset-based and cash flow senior and subordinated debt, equity, debtor-in-possession facilities, and special situation loans. Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position. For more information, please refer to the Bayside Capital website at www.bayside.com

Linden Care acquires Quick Care

BelHealth portfolio company Linden Care has acquired Quick Care Pharmacy. Quick Care is a pain-focused specialty pharmacy based in California. PRESS RELEASE Linden Care (“Company”), a leading pain-focused specialty pharmacy, and a portfolio company of BelHealth Investment Fund (“BelHealth”), has completed its acquisition of Quick Care Pharmacy (“Quick Care”), and added Rohit Sheta, Founder and President of Quick Care, to the Linden Care management team. Quick Care, based in California, expands Linden Care’s national presence to the west coast and deepens the company’s relationships and opportunities with existing pain pharma manufacturers by providing access to the $2 billion pain market in California, a “brick and mortar” state.
Marc Wiener, CEO of Linden Care, stated “Quick Care is the perfect addition to Linden Care because it expands our geographic coverage and allows us to better service our patients and pain pharma customers. Additionally, we are thrilled to have Rohit join the team and lead our West Coast sales effort in what continues to be a fast growing and highly underserved pain management market. Our partnership with BelHealth has been terrific and we look forward to continuing our collaboration and expanding our already leading national platform.”
Rohit Sheta stated, “I am excited to join Linden Care’s management team and believe that together we are uniquely positioned as a national solution to service the chronic pain industry. Quick Care has experienced rapid growth since its inception and will benefit greatly from the additional management, infrastructure and experience of both Linden Care and BelHealth.”
Harold S. Blue, BelHealth Managing Partner, said “With combined revenues of $250 million, physical locations on both coasts, and a national sales team, Linden Care is well positioned to maintain its position as a leading pain-focused specialty pharmacy with best in class compliance practices. Additionally, we are very excited about the synergies of the acquisition and opportunities in the chronic pain industry.”
About Linden Care
Linden Care, headquartered in Woodbury, NY, is a leading provider of specialty pharmacy services to the pain management industry. The Company is licensed in 48 states and services the needs of patients and physicians in the highly regulated pain industry. Linden Care works closely with leading pain pharmaceutical manufacturers and pain management physicians to formulate patient management programs to facilitate prior authorization and best-in-class compliance to optimize treatment outcomes for patients in the $25 billion chronic pain industry.
126 East 56th Street, 10th Floor 4100 Newport Place, Suite 255 26 Harbor Park Drive
New York, NY 10022 Newport Beach, CA 92660 Port Washington, NY 11050
T: 347-308-7011 T: 949-200-6547 T: 516-626-5678
About BelHealth Investment Partners
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth acquires majority positions in entrepreneur-owned companies that would benefit from the firm’s vast operating and private equity experience. The firm typically invests $10-25 million per platform company across four healthcare segments: Services, Products, Distribution and Information Technology. Applying an active, hands-on approach, BelHealth utilizes its experience to support management to drive revenue, profit growth and achieve superior returns for the firm’s investors and partners.
For further information, please visit:
Linden Care: www.lindencare.com
BelHealth Investment Partners: www.belhealth.com
Contact:
Linden Care: Marc Wiener and Mark Bortnick (516) 221-7600
BelHealth Investment Partners: Inder Tallur (347) 308-7018

Sale of Asset International to Genstar produces exit for Austin Ventures

Austin Ventures is exiting Asset International after five years. Today, middle-market PE firm Genstar Capital said it was buying New York-based Asset International, which provides data and technology to financial services firms such as mutual funds, hedge funds and 401(k) plans. Financial terms weren’t announced. However, banking sources pegged the deal at $125 million to $150 million. It isn’t clear what the return will be for Austin Ventures. It had committed to invest $100 million in Asset International, but AI CEO Jim Casella said the venture firm had not invested the full amount. Executives at Austin Ventures could not immediately be reached for comment. Senior Associate Dave Alter worked on the deal for Austin Ventures, according to the firm’s website. Austin Ventures invested in AI in 2009 from its 10th fund, which closed on $900 million in 2008. Austin Ventures X had an internal rate of return of 12.25 percent and a multiple of 1.37x as of Dec. 31, according to Bison, which tracks PE and VC performance data. (Austin Ventures already lists the deal on its website under “past” investments.) The sale to San Francisco-based Genstar is expected to close in July. Genstar will have a majority stake in Asset International, Casella said. “We had been talking on and off to Genstar for some time,” he told peHUB. “We are delighted they came through the auction process as the winner.”

Tony Salewski, a Genstar principal, said the San Francisco PE firm has known Casella and the AI team for a number of years. “We know data and we know the asset management space,” he said. “We’re really excited with what we can do together.”

News of the Asset International auction was reported by peHUB in May. Asset International has been using a combination of debt from Goldman Sachs Specialty Lending and equity to make acquisitions, Casella said. The company plans to continuing growing organically, he said. Asset International also expects to do more deals and will be looking to buy companies similar to Investor Economics, a provider of fund flow data for the Canadian market that Asset International acquired in 2013. “We are looking to buy businesses like Investor Economics that are subscription-based in financial services,” Casella told peHUB. Genstar’s investment in Asset International is coming from its sixth fund, which raised $1.5 billion in 2011, according to Bison. Genstar Capital Partners VI had produced a multiple of 0.97x as of Sept. 30, Bison reports. Genstar targets sectors such as healthcare, software, financial services and industrial technology. Genstar typically invests $50 million to $300 million of equity per deal, the firm’s website said. Once the acquisition of Asset International closes, Genstar Fund VI will be roughly 50 percent invested, Salewski said. He declined to comment on future fundraising. “We’ve returned a lot of capital and we’re on a good pace with the current fund,” he said. Jonathan Knee and Jason Sobol of Evercore Partners provided financial advice to Asset International. Genstar did not use an outside banker. Photo of big star courtesy of Blanscape / Shutterstock.com

Santander sells custody business stake to Warburg Pincus-led group-Reuters

(Reuters) – The euro zone’s biggest bank Santander said on Thursday it had agreed to sell a 50 percent stake in its securities custody business to a holding led by U.S. buyout firm Warburg Pincus. In a regulatory filing, Santander said it would book a 410-million-euro ($556.45 million) net capital gain on the sale of the business, valued at 975 million euros. It will retain a 50 percent stake. Singapore’s Temasek is also part of the group that will become a new partner of Santander in the business.

Starwood Group agrees to buy TMI Hospitality

Private investment firm Starwood Capital has agreed to acquire TMI Hospitality. No financial terms were disclosed. BofA Merrill Lynch and Barclays provided financial advice to Starwood while Citigroup Global Markets was lead financial advisor to TMI. Based in Fargo, North Dakota, TMI is a developer and operator of more than 180 select service and extended stay hotels across 26 states. PRESS RELEASE Greenwich, Connecticut/fargo, North Dakota (PRWEB) June 19, 2014 Starwood Capital Group (“Starwood Capital”), a leading global private investment firm, and TMI Hospitality, Inc. today announced that Starwood Capital, through a controlled affiliate of Starwood Global Opportunity Fund X, has entered into an agreement to acquire all of the outstanding stock of TMI Hospitality from the TMI Hospitality Employee Stock Ownership Plan. The acquisition includes 188 hotels, the management company and the development platform. The transaction is subject to customary closing conditions, including certain franchisor and lender approvals. “From its inception, TMI has developed and operated more than 400 hotels, and I am pleased Starwood Capital recognizes the value created by our extensive experience and talented team members,” said Lauris Molbert, chairman and CEO of TMI Hospitality. “With Starwood Capital, TMI will be able to continue pursuing its growth strategy while fulfilling its mission of impressing guests.” “The acquisition of TMI Hospitality, a proven and trusted property manager, offers Starwood Capital the exciting opportunity to build on our investments in select-service and extended-stay lodging,” said Suril Shah, senior vice president, acquisitions of Starwood Capital. “We are looking forward to continuing the legacy of TMI’s development and management platform.” Starwood Capital and its investors currently own 103 select-service hotels covering two-thirds of the United States. Following the close of the acquisition, the firm will control 291 select-service and extended stay hotels across 39 states in the United States.
TMI Hospitality is a developer, owner and operator of more than 180 select-service and extended-stay hotels across 26 states. The Fargo, North Dakota-based company employs more than 4,000 team members. Citigroup Global Markets Inc. acted as lead financial advisor to TMI Hospitality and Butcher Joseph Hayes also acted as financial advisor to TMI. Hentschel & Company provided a fairness opinion to TMI Hospitality’s Board of Directors. Morrison & Foerster LLP and Morgan, Lewis & Bockius LLP are serving as legal counsel to TMI Hospitality. Starwood Capital received legal counsel from Latham & Watkins LLP and financial advice from BofA Merrill Lynch and Barclays. About Starwood Capital
Starwood Capital is a private, U.S.-based investment firm with a core focus on global real estate. Since the group’s inception in 1991, the firm has raised nearly $25 billion of equity capital and acquired over $52 billion in assets. Starwood Capital currently has $36 billion of assets under management. Starwood Capital maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles, Chicago and Miami, and affiliated offices in London, Luxembourg, Paris, Frankfurt and Sao Paulo. Starwood Capital has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at http://www.starwoodcapital.com. About TMI Hospitality
Headquartered in Fargo, North Dakota, TMI Hospitality is a developer and operator of more than 180 select service and extended stay hotels across 26 states. The multiple divisions of TMI support the expanding portfolio through development, construction, services and management of its hotels. More information is available at http://www.tmihospitality.com.  

Warburg Pincus closes buy of Wencor from Odyssey

Warburg Pincus has completed its acquisition of Wencor from Odyssey Investment Partners. No financial terms were disclosed. Harris Williams & Co advised Wencor on the transaction. Based in Springville, Utah, Wencor is a provider and distributor of aftermarket aerospace components. PRESS RELEASE RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Wencor Group, LLC (Wencor), a portfolio company of Odyssey Investment Partners, LLC (Odyssey), to Warburg Pincus LLC (Warburg Pincus). Wencor, headquartered in Springville, UT, is a leading designer, repair provider and distributor of aftermarket aerospace components. Harris Williams & Co. acted as the exclusive advisor to Wencor. The transaction closed on June 19, 2014 and was led by Jon Nemo, Chris Rogers, Doug Kinard and Chris Smith from Harris Williams & Co.’s Aerospace, Defense & Government Services (ADG) Group. “Wencor is a truly unique commercial aerospace business serving the aftermarket maintenance needs of its large and growing customer base,” said Jon Nemo, managing director in Harris Williams & Co.’s ADG Group. “This successful transaction reflects the strong demand for differentiated platforms in commercial aerospace.” “Wencor management and the Odyssey team have built an impressive platform with deep aerospace part design, component repair and distribution expertise,” commented Chris Rogers, managing director in Harris Williams & Co.’s ADG Group. “Wencor will continue to take advantage of the many organic and acquisition-based growth opportunities created by the compelling value proposition it provides to its customers as well as benefit from the industry expertise and global reach of its new partner, Warburg Pincus.” Wencor is a market-leading provider of aftermarket components to the commercial, military and general aviation aircraft sectors. Customers include commercial airlines and maintenance, repair and overhaul (MRO) providers. The company’s component design and proprietary repair capabilities allow it to provide lower cost maintenance alternatives to airline and MRO customers for their replacement part and repair needs. Wencor’s aftermarket distribution business provides a channel to more than 3,700 customers around the world. Odyssey, with offices in New York and Los Angeles, is a leading middle market private equity firm with more than $4 billion under management. Odyssey primarily makes majority controlled investments, typically in established middle market companies, in a variety of industries. Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than $37 billion in assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds, which have invested more than $48 billion in over 700 companies in more than 35 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo and Shanghai. Harris Williams & Co.’s ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. The sale of Wencor represents the ninth transaction announced by the ADG Group since its formation in June 2010. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams & Co. website.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services. Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business  

Energy Investors Funds acquires 50% stake in Newark Energy Center

Energy Investors Funds has acquired an additional 50 percent stake in the Newark Energy Center from Hess Corporation. Two EIF-managed funds used a $590 million loan from Crédit Agricole, GE Energy Financial Services and Mitsubishi UFJ Financial Group. With the acquisition, EIF-NEC, a joint venture owned by two EIF funds, now holds 100 percent of the equity in the Newark Energy Center. Press Release Energy Investors Funds (“EIF”), an energy-focused private equity firm, announced today that two EIF-managed funds have indirectly acquired an additional 50 percent ownership stake in the Newark Energy Center from Hess Corporation (NYSE: HES) using a $590 million loan from Crédit Agricole Corporate and Investment Bank, GE unit (NYSE: GE) GE Energy Financial Services and Mitsubishi UFJ Financial Group (MUFG). EIF-NEC, LLC, an entity jointly owned by the two EIF-managed funds, will use the loan to support the acquisition, construction and operation of the 705-megawatt power plant, which is being built using GE’s advanced combined-cycle, natural gas-fired turbine technology. With this acquisition, EIF-NEC now holds 100% of the equity interests in the Newark Energy Center. The three lenders served as co-lead arrangers and joint-book runners. Financial details of the transactions were not disclosed. The Newark Energy Center sits on 23 acres of brownfield industrial land in New Jersey, an optimal location with nearby gas supply and electrical interconnection point. The project has been under construction for nearly two years and is expected to begin commercial operations in May 2015. It will sell its energy and capacity into the PJM capacity market. Power Plant Management Services is managing construction, with NAES Corporation providing operations and maintenance and Direct Energy undertaking additional energy management services. “We’re excited to consolidate our ownership of the Newark Energy Center and are pleased to work with three longtime relationship banks on the financing of such a critical new generation resource,” said Keith Derman, a partner at EIF. “This project will provide the PJM market with a reliable new source of efficient and environmentally friendly capacity.” Jim Guidera, managing director and head of energy and infrastructure group for North America at Credit Agricole CIB added, “Concluding the financing for EIF’s latest capacity addition to the PJM power market was a success for our project finance team, and continues our well-established relationship with EIF.” Carl Peterson, a managing director and leader of debt origination at GE Energy Financial Services, noted that this is the sixth thermal debt investment his group has led in the last year, with a total project capacity exceeding 3,000 megawatts. “The Newark Energy Center highlights GE’s ability to combine technology and financial structuring expertise to provide unique solutions that meet our customers’ needs,” said Peterson. “We are thrilled that we could deliver the right financing solution and combine it with a structure attractive to the debt markets,” said Jonathan Lindenberg, head of project finance for the Americas at MUFG. The Newark Energy Center will operate as one of the cleanest gas-fired power plants in the United States, using two GE 7F.05 Gas Turbines and one GE D400 Steam Turbine, and features advanced emissions control technology. The 7F.05 Gas Turbine can start up quickly to produce power with reduced start-up emissions, helping to enable the integration of renewable energy. The plant will provide more efficient, flexible and reliable power, helping to reduce the region’s reliance on older, less efficient power generation plants. GE will also service the equipment through a long-term contractual service agreement. Producing enough electricity to power approximately 700,000 homes, the project employs more than 700 construction workers and generates tax revenues for the city of Newark. For more details, visit: http://www.newarkenergycenter.com. Note to Editors:
View a photo of the Newark Energy Center, under construction in New Jersey. *Trademark of General Electric Company About Energy Investors Funds EIF was founded in 1987 as one of the first private equity fund managers focused on the independent power industry. EIF’s investment strategy is to create diversified portfolios of energy infrastructure-related assets across the power generation, transmission, and midstream sectors that are expected to provide superior risk-adjusted equity returns with current cash flow and capital appreciation. EIF has raised over $5 billion in equity capital and currently manages multiple private equity funds from its offices in Boston, New York, and San Francisco. For more information, visit www.eif.com. About Crédit Agricole CIB Credit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world’s fifth largest bank by total assets. The Bank provides support to clients in large international markets through its network with a presence in major countries in Europe, the Americas, Asia and the Middle East. For more information, please visit www.ca-cib.com. About GE Energy Financial Services GE Energy Financial Services—GE’s energy investing business—works as a builder, not just a banker, to help meet the world’s power and fuel needs. We offer more than money—expertise—for essential, long-lived and capital-intensive power, oil and gas infrastructure—GE’s core business. Drawing on GE’s energy technical know-how, financial strength and risk management, we see value where others don’t and take on our customers’ toughest challenges with flexible equity and debt transaction structures. Based in Stamford, Connecticut, GE Energy Financial Services holds approximately $16 billion in assets. More information: www.geenergyfinancialservices.com. Follow GE Energy Financial Services on Twitter: @GEEnergyFinServ About GE GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company’s website at www.ge.com. About MUFG Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. MUFG’s services include commercial and investment banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The group’s operating companies include The Bank of Tokyo Mitsubishi UFJ, Ltd.(BTMU) and its subsidiary Union Bank. N.A., Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges.

Genstar Capital to acquire Asset International

Genstar Capital has agreed to acquire Asset International, Inc., which provides data and marketing solutions to the global asset management industry. The deal is expected to close in July. Press Release Genstar Capital, a leading middle market private equity firm that focuses on investments in targeted segments of the financial services, software, healthcare, and industrial technology industries, today announced the signing of a definitive agreement to acquire Asset International, Inc. (AI), a leading provider of data, information and marketing solutions to the global asset management industry. Founded in 2009 by Chairman and CEO Jim Casella, Asset International provides critical data, business intelligence, and information services to the global investment management industry. AI delivers proprietary data and analytics, as well as marketing solutions that target global asset managers. The Company’s client base includes over 500 of the most prominent names in the asset management industry, representing more than $20 trillion of global AUM. Its recognized data products include the Simfund Mutual Fund database, Strategic Insight, Investor Economics, and Plan for Life. AI’s portfolio of marketing solutions includes brands such as PLANSPONSOR, PLANADVISER, Chief Investment Officer, Global Custodian, and The Trade. Tony Salewski, Principal of Genstar, said, “Asset International is a strong, vertically focused information services business that we have followed for several years, and it is an exciting platform from which to build a global leader in financial data and marketing services. We are pleased that Jim chose to partner with us and we look forward to working with him to capture additional customers, accelerate product innovation, and expand the geographic reach of the company. Given the significant fragmentation among information providers globally, we have also committed capital to pursue acquisitions.” Jim Casella, added, “Our superior data has allowed us to build strong client relationships, and our business intelligence products are differentiated by their quality and ease of use. We are uniquely positioned to grow our client base and benefit from the long-term growth in retirement saving and planning driven by aging demographic trends worldwide. With Genstar’s help and expertise we will better capitalize on opportunities within our existing base of large enterprise clients, expand the product portfolio into adjacent sectors, and increase market share in underpenetrated international geographies.” The transaction is expected to close in July 2014, subject to customary closing conditions. About Genstar Capital Management, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $2.6 billion of committed capital under management and targets investments focused on selected sectors within financial services, software, healthcare and industrial technology industries.  

Standard Chartered Private Equity invests $60 mln in AJ Networks

Standard Chartered Private Equity has invested $60 million in AJ Networks, an equipment rental company in Korea. AJ Networks was established in 2000. Press Release Standard Chartered Private Equity (“SCPE”) has announced a USD60 million investment in AJ Networks Co., Ltd. (“AJ Networks” or the “Company”). Established in 2000, AJ Networks is a leading equipment rental service provider in Korea. The company offers a broad range of rental products including office IT equipment, pallets, aerial lifts and construction equipment. AJ Networks is the largest shareholder of the KOSPI-listed AJ Rent A Car, Korea’s second largest car rental business. Taeyub Kim, Managing Director and Head of Korea at SCPE, said, “AJ Networks has established leading market positions in fast-growing segments within the larger rental industry in Korea. We are excited about the Company’s growth strategy amid the backdrop of rapidly rising industry demand for rental goods. We look forward to supporting the Company’s expansion plans both domestically and internationally.” About Standard Chartered Private Equity Standard Chartered Private Equity (“SCPE”) is the private equity arm of Standard Chartered Bank. SCPE invests in companies in need of expansion capital or acquisition finance, and in management buy-outs. SCPE focuses on companies whose principal operations and management are located in Asia, Africa or the Middle East. It is an active partner that provides board-level strategic advice and access to the international network of Standard Chartered Bank. SCPE Korea currently has investments of USD 800 million in Korea.