Author: Luisa Beltran

ConvergEx Group has appointed Joseph Cangemi as CEO of the firm’s UK based broker-dealer, ConvergEx Limited. Cangemi will relocate to London where he will be responsible for overseeing and growing ConvergEx’s European operations. He continue as co-head of Electronic Equity Trading and Sales. ConvergEx is backed by GTCR.

PRESS RELEASE

ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that it will appoint Joseph N. Cangemi chief executive officer of the firm’s UK based broker-dealer, ConvergEx Limited, subject to the approval of the Financial Conduct Authority.

In his new role, Mr. Cangemi will relocate to London where he will be responsible for overseeing and growing ConvergEx’s European operations. He will also continue in his current role as co-head of Electronic Equity Trading and Sales.

“During his 30 years in the securities business, Joe has played a critical role in helping to shape our industry.  His in-depth knowledge of market structure and the regulatory landscape will be instrumental as he takes on this position,” said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. “Joe also brings a tremendous amount of executive talent and a client-first focus that will benefit our clients and help grow our franchise across the region.”

Mr. Cangemi joined ConvergEx Group through the acquisition of Francis P. Maglio & Co., a firm he co-founded in 1983 and grew to become one of the industry’s top direct access floor brokers. In 2006, he was appointed to the Security Traders Association’s (STA) Board of Governors and served as STA treasurer in 2009. In 2010, he served as STA vice chairman and then as STA chairman in 2011. Mr. Cangemi is also a past governor of the New York Stock Exchange.

He is a frequent speaker at various industry conferences and is a member of the SIFMA Equity Markets and Trading Committee. He is also a member of National Organization of Investment Professionals (NOIP).

Mr. Cangemi holds a bachelor’s degree in Economics from the University of Rochester.  He was the recipient of the Sons of Italy’s Golden Lion Award in 2000.

 

# # #

About ConvergEx Group
ConvergEx Group is a leading provider of global brokerage and trading-related services for institutional investors and financial intermediaries.  ConvergEx combines client-first service with innovative products, sophisticated strategies and proprietary technology to meet the challenges of increasingly dynamic and fast-paced markets. Headquartered in New York with a presence in 17 key locations worldwide, the company serves more than 3,000 clients accessing over 100 global market centers.

ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); ConvergEx Solutions LLC, of which ConnEx, Jaywalk and LDB are divisions; and ConvergEx Limited in the UK and Australia. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC.  Additional information is available at www.convergex.com.

The post Cangemi Named CEO of ConvergEx Ltd appeared first on peHUB.

Altus Capital Partners has made three hires. Scott Johnson, formerly of Parthenon Capital Partners, is a senior associate at Altus. Mike Barry, a former analyst in the Investment Banking Group of BB&T Capital Markets, joined as a associate. And, Joseph A. Melo was named Altus’ assistant controller in March. Most recently, Melo was part of Morgan Stanley’s private equity administration arm, where he was a Fund Controller in New York City.

PRESS RELEASE

Altus Capital Partners, Inc., a private equity investment firm focused on niche middle market manufacturing companies in the U.S., today announced it has hired three new professional staff members.

Russell J. Greenberg, Co-Founder and Managing Partner, said, “We will continue to invest in resources as we move ahead in investing Altus Capital Partners II and managing our portfolio. These three additions to our staff, at both our Connecticut and Illinois offices, bring additional depth to our investment and support teams.”

The new hires are:

Senior Associate Scott Johnson joined Altus Capital this month. He has over five years of combined private equity and M&A experience, and prior to joining Altus Capital worked for Parthenon Capital Partners and Performance Equity Management. At Performance Equity Management, Scott completed direct investments and fund investments across a variety of company sizes and industry sectors. Scott began his career at Deloitte Consulting, where he focused on M&A transactions within Deloitte’s Strategy and Operations practice. Scott is a graduate of Boston University and holds an MBA from The Tuck School of Business at Dartmouth, where he was an Edward Tuck Scholar.
Associate Mike Barry started his career as an analyst in the Investment Banking Group of BB&T Capital Markets, where he worked on both buy-side and sell-side M&A, leveraged buyout, and equity capital markets transactions across a broad range of industries. He is a graduate of the University of South Carolina’s Moore School of Business with a dual degree in Corporate Finance and International Business through the Sonoco International Business Department. He will work in the firm’s Lincolnshire, IL office.
Assistant Controller Joseph A. Melo joined Altus Capital in March with over nine years of accounting, reporting, operations and client service experience in the private equity industry. Joseph was most recently at the Morgan Stanley private equity administration arm, where he was a Fund Controller in New York City. He has extensive knowledge of buyout, fund of funds, venture capital and private equity fund accounting and managing all aspects of financial operations. Joseph is a graduate of Berkeley College, where he earned his Bachelor of Business Administration in Accounting.

About Altus Capital Partners

Based in Wilton, CT with an office in Lincolnshire, IL, Altus Capital Partners, Inc. invests alongside management in profitable small to medium-sized manufacturing companies based in the U.S. that have proprietary technologies, processes and products. The Altus investment team is led by three partners who, in 17 years of investing together, have acquired 23 platform companies.

For more information on Altus, please visit www.altuscapitalpartners.com.

The post Altus Capital Makes Three Hires appeared first on peHUB.

Apex Fund Services has named Elliott Brown to the position of Managing Director – Americas. He will be responsible for overseeing the growth of all of Apex’s offices in North and South America. Elliott was formerly with JP Morgan for 18 years, most recently as the Managing Director responsible for leading the bank’s global hedge fund administration business.

PRESS RELEASE

Apex Fund Services (“Apex”), one of the world’s largest independent fund administration companies, announces the appointment of Elliott Brown to the newly created position of Managing Director – Americas. Elliott will have responsibility for overseeing the growth of all of Apex’s offices in North and South America.

Elliott was formerly with JP Morgan for 18 years, most recently as the Managing Director responsible for leading the bank’s global hedge fund administration business. Prior to that role, Elliott was in Strategy and Business Development and was instrumental in the formation of the Hedge Fund and Private Equity Fund Administration businesses at JPMorgan. Elliott also worked for JPMorgan in Australia in Relationship Management and Operations.

Elliott is a Chartered Accountant and Fellow of the Securities Institute of Australia.

Apex America has recently opened its new offices on East 52nd Street in New York and already offers office space to emerging fund managers as part of Apex’s Emerging Manager Incubation Service (EMIS) launched in February 2013.

Peter Hughes, Group Managing Director, Apex Fund Services, said:

“Attracting high calibre people such as Elliott demonstrates the growing recognition of Apex and its potential. Elliott’s addition to the senior management team ensures that Apex now has the right resources in place ahead of its next phase of aggressive growth.

“Apex remains fully intent on continuing to shake up the financial services industry by introducing innovative services that are designed to bring efficiencies to fund managers and transparency to investors.”

Elliott Brown, Managing Director – Americas, Apex Fund Services, said:

“It is very exciting to be working with an organization that is totally focused on servicing the needs of alternative funds and private equity managers. Apex has built an extensive suite of products to help asset managers grow their businesses efficiently.

“Opportunities to join a Company that is gaining momentum at a critical time in the global economy do not come around often and I am delighted to be joining the team at this time of Apex’s development.”

About Apex Fund Services

Apex has more than $23 billion under administration, and over 300 employees in 29 offices across 20 countries.
For more information: www.apexfundservices.com.

The post Brown Joins Apex Fund Services appeared first on peHUB.

The Blackstone Group has invested in Carbon Black. Financial terms weren’t announced. Sterling, Va.-based Carbon Black, a subsidiary of Kyrus, provides information security technology. Blackstone made the investment in Carbon Black during the fall of 2012.

PRESS RELEASE

Carbon Black, a leading provider of information security technology, announced on Monday an investment from Blackstone (NYSE:BX) that has led to the development and launch of “Carbon Black 3.0,” a 9-in-1 software solution that answers, in real time, vital security and business questions.

Billed as the world’s first ‘surveillance camera’ for computers, “Carbon Black 3.0” collects and retains key pieces of information that security and business professionals can use to better understand the safety and efficiency of their enterprises.

“Carbon Black will be a strategic infrastructure intelligence solution for Blackstone and our portfolio companies,” said Bill Murphy, Chief Technology Officer of Blackstone. “Knowing what is happening in our infrastructure helps us with security but also informs the overall health of our technology environment. We believe Carbon Black will become a must-have security asset and set the standard for information security solutions.”

“Carbon Black’s initial success and their innovative approach to providing incident response intelligence made this a very attractive partnership for Blackstone,” said Jay Leek, Blackstone’s Chief Information Security Officer. “We look forward to working with the Carbon Black team as they continue to flourish in the industry.”

Following Blackstone’s investment in the fall of 2012, Carbon Black began developing “Carbon Black 3.0,” which launched today as a lightweight, scalable solution that provides enterprise-wide visibility and historical traceability. As a result, technology professionals can use “Carbon Black 3.0” to conclusively and precisely answer critical questions when investigating a security breach or any another change to their computing infrastructure.

“With ‘Carbon Black 3.0,’ answers to these critical questions can be obtained in a matter of seconds, even if the breach occurred months ago,” said Carbon Black CEO, Michael Viscuso. “Previously, questions like these would take hours, even days, to answer; costing companies hundreds of thousands of dollars in extra IR costs unnecessarily. Carbon Black’s answers are helping today’s companies prepare for the inevitable breach and respond with confidence.”

“Carbon Black 3.0” also functions as a comprehensive 9-in-1 business solution.

“Carbon Black 3.0” provides organizational leaders with key answers to questions involving:

Breach Preparation
Malware Detection
Incident Response
Vulnerability Assessment
Patch Management
New Application Notification
File & Registry Integrity Monitoring
Policy Enforcement
License Management.
About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

About Carbon Black

Carbon Black was established in 2011 as a subsidiary of Kyrus, a leading computer security services provider. For more information visit carbonblack.com or use the hashtag #CbAnswers on Twitter.

The post Carbon Black Gets Investment from Blackstone appeared first on peHUB.

Golden Gate Capital said Monday it agreed to buy Springs Window Fashions from Heartland Industrial Partners and interests of the Close Family. Financial terms were not announced. Middleton, Wis.-based Springs Fashions makes and sells custom and stock window coverings and drapery hardware to retail and commercial customers. The deal is expected to close in June. BofA Merrill Lynch served as financial advisor to Golden Gate Capital on this transaction. J.P. Morgan served as financial advisor to Springs.

PRESS RELEASE

Golden Gate Capital, a leading investment firm with extensive experience in the industrial and building materials sectors, announced today that it has signed a definitive agreement to acquire Springs Window Fashions (“Springs”), the second largest provider of custom window covering products in the world, from Heartland Industrial Partners and interests of the Close Family. Terms of the transaction were not disclosed.
Headquartered in Middleton, Wisconsin, Springs manufactures and sells custom and stock window coverings and drapery hardware to retail and commercial customers, as well as independent designers, franchisors and decorators. The company was founded in 1939 and has over 4,800 employees located at nine facilities located throughout North America. Springs’ management will remain with the company and will continue to maintain a minority ownership position.
“Springs represents a terrific opportunity to invest in a market leader with proven competitive advantages and significant growth potential,” said Rajeev Amara, a Managing Director of Golden Gate Capital. “Our decision to partner with Springs was driven by the strength of the management team and their long history of delivering world-class products and services. We are fully committed to further investing in the company to support and accelerate its continued growth, both organically and through add-on acquisitions.”
“We are excited to be working with Golden Gate Capital, which has a demonstrated track record of building long-term value for its portfolio companies,” said Scott Fawcett, President and CEO of Springs. “With Golden Gate’s financial and operational support, we will be able to bolster our leading market position through our differentiated manufacturing and service models and enhance our product offering for our customers.”
“Springs Window Fashions has proven to be a successful investment for Heartland and the Close Family,” said Daniel P. Tredwell, Managing Partner of Heartland Industrial Partners and Crandall Close Bowles, the Chairman of Springs Industries. “The company has strengthened its relationships with retail customers and significantly built its business in the designer channel, ensuring that it is well-positioned for future growth. We wish the company continued success for years to come.”
The acquisition is subject to customary regulatory approvals and is expected to close by June 2013.
BofA Merrill Lynch served as financial advisor to Golden Gate Capital on this transaction. J.P. Morgan served as financial advisor to Springs.
About Springs Window Fashions
Headquartered in Middleton, Wisconsin, Springs is the second-largest global manufacturer and distributor of window coverings. With its highly recognized Bali and Graber brands, the company is a leader in combining interior comfort, energy efficiency, convenience and design. Through its complex, integrated manufacturing, logistics, and supply-chain processes, Springs ships thousands of custom products on a daily basis to more than 10,000 unique points of distribution in North America. For more information, visit www.springswindowfashions.com.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $12 billion of capital under management. Golden Gate Capital is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses. The firm targets investments in which there is a demonstrable opportunity to significantly enhance a company’s value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide range of industries and transaction types. Other notable Industrials investments sponsored by Golden Gate Capital include U.S. Silica, EP Minerals, ArrMaz and Atrium. For more information, visit www.goldengatecap.com.
About Heartland Industrial Partners, LP
Heartland Industrial Partners, LP is a Connecticut based private equity firm. Heartland and its affiliate, CoveView Capital Partners, have extensive experience investing in middle market manufacturing and consumer products companies. Heartland and CoveView focus on creating value through active corporate management and supplementing investments with enhanced operational, strategic, and financial resources.

The post Golden Gate Inks Buy of Springs Window Fashions appeared first on peHUB.

Aquiline Capital Partners said Monday that it has completed its buy of Equity Insurance Group. Financial terms weren’t announced. The seller was Insurance Australia Group. U.K.-based Equity Insurance is a specialist motor insurer. The deal includes Equity Red Star and Equity Syndicate Management Ltd., with its associated Syndicate 218 at Lloyd’s, as well as the broking business Equity Direct Broking Limited.

PRESS RELEASE

Aquiline Capital Partners (“Aquiline”), a New York-based private equity firm investing in financial services, today announced that it has completed the acquisition of Equity Insurance Group (“the Company”), a market-leading specialist motor insurer based in the United Kingdom. It was purchased from Insurance Australia Group (ASX: IAG). Equity Insurance Group includes motor insurer Equity Red Star and Equity Syndicate Management Ltd. (“ESML”), with its associated Syndicate 218 at Lloyd’s, as well as the broking business Equity Direct Broking Limited.
The largest motor insurance syndicate at Lloyd’s, the Company is one of the ten largest motor insurers in the U.K. and has been insuring commercial and individual customers for more than 60 years.
Aquiline announced that Ian Parker has become Chief Executive Officer of Equity Insurance Group. The Company has also announced a new board for the managing agency, which includes Patrick O’Sullivan as Chairman of ESML. Veterans in the insurance industry, Messrs. Parker and O’Sullivan will lead the Company’s senior leadership team in redirecting the emphasis of the business to its core specialty motor insurance lines.
“Equity Insurance Group has been a leading underwriter in the specialty motor space,” said Jeff Greenberg, Chief Executive of Aquiline. “Ian and Patrick are great additions to the team and their leadership will be integral in building the Company’s reputation for market-leading underwriting profitability and customer service over the coming years. We look forward to working with Ian and Patrick and the rest of the senior leadership team.”
“I am pleased to be joining the Equity Insurance Group management team and look forward to growing our strongest business – specialty motor insurance,” said Mr. Parker. “With Aquiline’s financial support and operational expertise, we will strengthen the business and our position as the leading specialty motor underwriter in the United Kingdom.”
Mr. Parker joins Equity Insurance Group from specialist insurer and reinsurer Hardy Underwriting, where he was Chief Operating Officer. Previously, he served as Zurich Financial Services’ Chief Executive of Direct & Partnership European General Insurance and Chairman of Zuritel S.p.A and Deutsche Allgemeiner Versicherung.
Mr. O’Sullivan brings to the Company decades of experience in insurance and financial services. Most recently, he served as Vice Chairman of Zurich Financial Services. He is the Chairman of Old Mutual and a non-executive director of Man Group plc and Bank of Ireland.
Macquarie Capital (Europe) Limited acted as sole financial adviser to Aquiline on the transaction.

About Equity Insurance Group
Equity Insurance Group provides insurance to more than one million policyholders through its diverse divisions. These include Equity Red Star, the Lloyd’s underwriting business based around Syndicate 218, which has been a leading motor insurer for more than 60 years. Equity Red Star now offers a diverse
range of insurance for private cars, classic cars, vans, motorcycles, taxis, minibuses, fleets, haulage and agricultural vehicles, households and personal accidents.
Equity Insurance Partnerships (the trading name for Equity Direct Broking Limited) is one of the UK’s leading affinity brokerage businesses, working with a host of leading brands such as Banco Santander, HSBC, First Direct, Renault and Honda. With UK-only based customer contact centres and innovative web-based services, Equity delivers exceptional product and service solutions across car, home and motorbike insurance. In addition to affinity partnerships they also provide outsourcing for brokers and insurers seeking to exit personal lines administration.
About Aquiline Capital Partners LLC
Aquiline is a private equity firm based in New York investing in financial services enterprises in industries such as property and casualty insurance, banking, securities, asset management, life insurance and financial technology. Aquiline seeks to add value to its portfolio companies through strategic, operational, and financial guidance.

The post Aquiline Buys Equity Insurance appeared first on peHUB.

Spondo has raised AU $1 million (US $1.03 million) in funding. Melbourne, Australia-based Spondo is a social broadcasting network.

PRESS RELEASE

Before heading to the U.S. for the first leg of a two-month fundraising sojourn, Spondo Global CEO & Director Chris Adams headlined a series of fundraisers in Melbourne with Board Chairman Henry Pinskier that helped Spondo cross the AU $1 million (US $1.03 million) funds-raised threshold, surpassing the startup’s own fundraising goals and enabling it to continue its aggressive push for growth. Spondo, a social broadcasting startup, provides a syndication platform through which retailers can sell and stream video on any website or blog.
In a flurry of activity centering around the Spondo Annual General Meeting in Melbourne, the Spondo leadership team rolled out a series of detailed presentations and company materials that, judging by the sums raised, hit their mark in conveying the innovative and paradigm-shifting business model that Spondo has created. The Wall Street Journal reported in February that the startup was seeking to raise AU $5 million (US $5.1 million). Now, just 60 days later, the company has raised AU $1 million, before tapping the V.C., Private Equity and private investor markets.
The funds raised will help the company to pursue its quest for global growth, including opening an office in Los Angeles later this month. The prodigious fundraising haul will also enable the company to invest in larger content offerings, to hire additional staff and to increase marketing efforts, especially in the digital realm.
Commenting on the company’s fundraising success while shuttling between meetings in Los Angeles this week, Spondo Global CEO & Director Chris Adams said, “I am ecstatic about the results of our initial fundraising push. Our success thus far is a testament to the strength of our business model, the Spondo team, the opportunities presented by an ever-changing media market and the talent and determination of our staff. Hitting the AU $1 million milestone is a great way to cap what has been an incredibly intense and productive few months and I want to thank everyone who has helped us get this far, staff and investors alike.”
Gerhard Sieber , an early Spondo investor and CEO of Berlin-headquartered media company Icestorm Entertainment added, “I am happy to have been able to be a part of Spondo’s early fundraising efforts and am glad that other investors have come to understand the opportunity presented by Spondo’s business model and market position. Spondo represents the future of commercial broadcasting, enabling anyone with a website or Facebook page to become, in effect, his or her own network. Icestorm and I have embraced the Spondo model and know that with it, we can grow exponentially.”
1. About Spondo
Spondo provides a social broadcasting platform for anyone with an online presence to capitalize on his or her existing audience and grow revenues by syndicating streaming video, audio or other digital content on his or her website, Facebook page or blog.
Based in Melbourne, Victoria, Australia, Spondo seeks to connect content owners with affiliates and their communities through an innovative business model of revenue sharing, turn-key technology solutions and marketing tools that make it easy to make money from content worldwide. Spondo is owned by holding company RivusTV Limited.

The post Spondo Raised AU$1 Mlln appeared first on peHUB.

Content Partners has acquired a 50% interest in three series comprising the TV franchise CSI: “CSI: Las Vegas,” “CSI: New York” and “CSI: Miami.” Financial terms weren’t announced. Allen Matkins provided legal advice to Content Partners.

PRESS RELEASE

Allen Matkins, a California-based full service business and real estate law firm, served as legal counsel for Content Partners in the entertainment finance investment fund’s March 2013 acquisition of a 50 percent interest in the three series comprising the hit television franchise “CSI” (“CSI: Las Vegas,” “CSI: New York” and “CSI: Miami”). Content Partners acquires interests and participations in completed entertainment properties, including motion pictures and television series.
(Photo: http://photos.prnewswire.com/prnh/20130422/CG98199)
The transaction is only one of many the Allen Matkins Investment Funds and Advisers practice group has handled in the past year. Allen Matkins partners Daniel McIntosh and Matthew Ertman were lead attorneys for Content Partners and oversaw all aspects of the financing and acquisition of the assets by Content Partners.
Over the past 12 months, Allen Matkins’ Investment Funds and Advisers practice group has represented clients in the formation of private equity and hedge funds having more than $1.1 billion in assets under management, as well as in asset acquisitions made by the funds. Other notable corporate transactions in which Allen Matkins has provided legal counsel include the formation of a large emerging growth technology fund, the leveraged buy-out of an energy company, and representing Reverse Mortgage Solutions in its $120 million sale to NYSE-listed Walter Investment Management Company.
“The recent Content Partners acquisition illustrates Allen Matkins’ growing position as a destination firm for investment fund formation and related acquisition transactions,” says Ertman.
Allen Matkins’ Investment Funds and Advisers practice group, which includes corporate, finance and tax attorneys, has 15 attorneys focused on structuring investment funds and advising fund managers.  The group is additionally supported by labor and ERISA, real estate, intellectual property and regulatory specialists.  Fund client investment strategies include the entertainment, energy and financial services industries, public and private equities, technology, and real estate.
ABOUT ALLEN MATKINS
Allen Matkins, founded in 1977, is a California-based law firm with approximately 220 attorneys in the four major metropolitan areas of California:  Los Angeles, Orange County, San Francisco and San Diego.  The firm’s core specialties include corporate and securities, commercial finance, employment and labor law, intellectual property, taxation, real estate and real estate finance, land use, natural resources, environmental, bankruptcy and creditors’ rights, and dispute resolution and litigation. For more information about Allen Matkins please visit www.allenmatkins.com.

The post Content Partners Invests in CSI appeared first on peHUB.

The Weather Company has named Peter Kuipers CFO effective May 6. Kuipers joins the company from Yahoo! Inc., where he serves as vice president of finance for the Americas Region. He will report to Chris Walters, Weather’s chief operating officer. Weeather is owned by NBC Universal, The Blackstone Group and Bain Capital.

PRESS RELEASE

The Weather Company (Weather) today announced the appointment of Peter Kuipers as chief financial officer (CFO) effective May 6, 2013. Kuipers joins the company from Yahoo! Inc., where he serves as vice president of finance for the Americas Region. He will report to Chris Walters, chief operating officer of Weather, who announced the appointment.

“Peter is a proven finance leader with extensive product, commercial and international experience, making him the ideal addition to our team as we grow our business globally,” said Walters. “His track record as a business partner, in building and leading the execution of strategy, will further grow our finance team’s role as a driver of our success.”

As CFO, Kuipers will assume a global role for Weather, partnering with all divisions to align the company’s finance and business strategies; develop plans and budgets; evaluate and monitor investment priorities; and execute on an aggressive growth strategy including global expansion, digital transformation and monetization. He will oversee functions including financial planning and analysis (FP&A), accounting, tax, treasury and facilities.

In his most recent role as vice president of finance for Yahoo!’s Americas region, Kuipers led teams responsible for FP&A, operations finance, partnership finance, controllership, accounting, reporting and finance operations for the region across multiple product lines and channels. At Yahoo! Kuipers previously served as vice president of finance, global products division, and as vice president of finance, international regions. Kuipers also served as a member of the board of directors for the majority of Yahoo!’s international companies.

“The Weather Company is recognized as an industry leader, while also innovating across multiple screens, working with consumer and professional audiences, and expanding globally,” said Kuipers. “I am excited to join The Weather Company and I look forward to working with Chris Walters and the Weather team.”

Prior to Yahoo!, Kuipers held financial leadership roles with Altera Corp. in San Jose, Calif., with General Electric Company both in Mass. and in the Netherlands, and with Akzo Nobel in the Netherlands. He started his career as an auditor with Ernst & Young, both in Rotterdam, the Netherlands, and in Seattle, Wash.

A native of Enschede, the Netherlands, Kuipers and his family will be relocating to Atlanta, Ga., Weather’s headquarters. He holds a master’s degree in economics and business administration from the Maastricht University School of Business and Economics in the Netherlands. He is also a Chartered Accountant (Netherlands Institute of Chartered Accountants) in the Netherlands.

The Weather Company: Where the World Gets its Weather

Through The Weather Channel, weather.com, Weather Underground, Intellicast.com, and third-party publishing partners, the company provides millions of people every day with the world’s best weather forecasts, content and data, connecting with them through television, online, mobile and tablet screens. Through WSI and Weather Central, the company delivers superior professional weather services for the media, aviation, marine and energy sectors. The Weather Company is owned by a consortium made up of NBC Universal and the private equity firms The Blackstone Group and Bain Capital. For more information, visit www.weather.com/press.

The post Kuipers Named CFO of Weather appeared first on peHUB.

American Capital said Friday that its sponsor finance group invested over $59 million in three companies during first quarter. In March, American Capital invested in a second lien facility to support the refinancing of Total Safety, which is owned by another PE firm. Also that month, American Capital invested in a second lien facility to support the buy of Datapipe by another PE firm. In February, American Capital invested in a new first lien facility as part of the refinancing of its portfolio company, Neways.

PRESS RELEASE

American Capital, Ltd. (Nasdaq: ACAS) (“American Capital”) announced today that in the first quarter of 2013, its Sponsor Finance Group invested over $59 million, in support of leading private equity firms.
“During the first quarter of 2013, we invested in three global middle market companies. Our transaction execution was efficient and we were able to provide competitive pricing and terms, working both directly with sponsors and participating in syndicated second lien term loans with leading investment banks,” said Adam Spence , Managing Director, American Capital. “The American Capital Sponsor Finance Group, with 29 investment professionals in the United States and Europe, is able to provide one stop financing solutions and subordinated debt capital and participate in syndicated second lien term loans.”
“Our flexible capital and our wide-ranging financing capabilities position us to move quickly and finance new attractive acquisitions, capital structure refinancings and corporate growth initiatives,” said Bowen Diehl , Managing Director, American Capital. “We look forward to an active year of supporting our sponsor partners in new buyouts and in growing their portfolio companies, while forging and enhancing new relationships in the sponsor community.”
A summary of transactions is outlined below.
Total Safety, Inc.
In March 2013, American Capital invested in a second lien facility to support a leading private equity firm in the refinancing of Total Safety, Inc., the premier global outsourced provider of integrated safety and compliance solutions for clients operating in highly-regulated, hazardous environments. Headquartered in Houston, TX, the company’s solutions include the rental, inspection, service and repair of respiratory protection equipment, gas detection and monitoring equipment and portable instrumentation, as well as the installation and service of complex breathing air systems, technical private facility communication networks and gas monitoring, fire detection and suppression systems.
Datapipe, Inc.
In March 2013, American Capital invested in a second lien facility to support a leading private equity firm’s purchase of Datapipe, Inc., a leading global provider of outsourced IT solutions to medium and large size enterprise customers. Headquartered in Jersey City, NJ, with data center facilities in New York, Virginia, San Jose, London, Iceland, Hong Kong and Shanghai, Datapipe offers a range of managed services, including Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and cloud computing solutions.
Neways, Inc.
In February 2013, American Capital invested in a new first lien facility as part of the refinancing of its existing portfolio company, Neways, Inc., a multi-level marketing firm. American Capital acted as lead syndication and administrative agent on the deal. Headquartered in Springville, UT, Neways sells personal care and nutritional health products, including liquid vitamins, dietary supplements, and beauty care products through a global network of independent distributors.
American Capital and its affiliated funds have invested approximately $31 billion in over 550 portfolio companies both directly and in support of leading financial partners in change of control transactions. For more information about American Capital’s portfolio, go to http://www.americancapital.com/Pages/our_portfolio/our_portfolio.aspx.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. American Capital manages $18.6 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $117 billion of total assets under management (including levered assets). Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately a $13 billion market capitalization and American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately a $1.5 billion market capitalization. From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.
This press release contains forward-looking statements. The statements regarding expected results of American Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions, or changes in the conditions of the industries in which American Capital has made investments

The post American Capital Invests $59 Mln in Three Companies in Q1 appeared first on peHUB.

The Carlyle Group has made a “significant” investment in Addison Lee. Financial terms weren’t announced. Addison Lee is a U.K. taxi company. The investment comes from Carlyle Europe Partners III L.P., a 5.4 billion Euro (US$7 billion) fund that makes mid and large cap investments. Reuters says the investment was in the region of 300 million pounds ($458.8 million).

PRESS RELEASE

Global alternative asset manager The Carlyle Group (NASDAQ: CG) has today announced it has made a significant investment in Addison Lee, a long-established player and well- known brand in the transportation and private hire services in London and the South East of England.

Capital for this investment will come from Carlyle Europe Partners III L.P., a 5.4billion Euro fund that makes mid and large cap investments. Terms of the transaction were not disclosed.

Founded in 1975 with one car, Addison Lee has grown to a fleet of over 4,500 vehicles. Today, Addison Lee has a significant, established footprint in private hire services across London carrying over 10 million passengers and couriering 1 million deliveries per year.

The focus for Carlyle’s investment in Addison Lee will be to drive business expansion both in the UK and internationally by providing transport services to a wider range of blue chip corporates and individual customers. This will be achieved by enhancing customers’ access to the company’s extensive fleet and significant new innovations in the company’s proprietary technology platforms and brand experience.

Andrew Burgess, Managing Director of Carlyle Europe Partners added:

Addison Lee is a strong business and brand with great potential. As experienced investors in the automotive and transportation sector through companies such as Applus+, Hertz and RAC, we hope Carlyle’s experience and expertise will allow us to support the plans to continue growing the business both in the UK and internationally and to create value.
Commenting on the investment, Liam Griffin, Managing Director of Addison Lee said:

We are delighted to welcome Carlyle to the Addison Lee family. From humble beginnings almost 40 years ago, Addison Lee has grown to become a well-known brand, valued for its customer service and innovative technology alike. We are excited about this investment, which provides the endorsement and backing of one of the world’s largest investment firms and provides a platform for Addison Lee’s continued future growth.
Carlyle was advised on the transaction by Deloitte, OC&C and Latham & Watkins. Addison Lee was advised by Catalyst Corporate Finance and Joelson Wilson.

The post Carlyle Invests in Addison Lee appeared first on peHUB.

NovoPedics has received a commitment of up to $500,000 from Foundation Venture Capital Group. NovoPedics will use the funds to its development of an implantable meniscus replacement/regeneration medical device.

PRESS RELEASE

Newly formed NovoPedics, Inc., has received a commitment of up to $500,000 from Foundation Venture Capital Group (FVCG) to advance its development of an implantable meniscus replacement/regeneration medical device.
Currently in the United States, the treatment options for pain after meniscectomy are limited to replacement with allograft (cadaver) tissue, bone realignment surgeries and knee replacement surgery; there is no FDA-approved product for replacement of the meniscus.
Meniscofix™, the company’s first product, uses a biodegradable polymer fiber-reinforced scaffold that restores mobility to patients suffering from severe meniscus knee injuries and can prevent the long-term development of arthritis.
“There are more than 1.5 million meniscus tears each year, resulting in 800,000 meniscectomy surgeries,” explained Dr. Charles Gatt and Dr. Michael Dunn , company founders.  “Meniscofix is an innovative way to repair these tears and may also eliminate the development of arthritis that is often a complication of current meniscus repair surgery.  Meniscofix has a unique fiber-reinforced design similar to the native meniscus and can be attached to either soft tissue or bone, allowing it to be used in either partial or total meniscus replacement surgery.”
According to James M. Golubieski , president of FVCG, the company invested in NovoPedics because few treatment options currently exist for significant meniscus knee injuries and Meniscofix has already shown strong results through in vivo proof-of-concept studies.  These pre-clinical studies were largely funded by the Department of Defense’s “Armed Forces Institute of Regenerative Medicine (AFIRM)” because meniscus injuries are common not only in athletes and laborers but in the military as well.
“We look forward to helping advance this important research that could have far-reaching effects for those suffering with debilitating knee injuries,” added Dr. George F. Heinrich , vice chair and CEO of Foundation Venture Capital Group.  “This is a particularly exciting investment for Foundation Venture Capital Group as it has allowed us to expand our reach to support faculty members who hold positions at both the University of Medicine and Dentistry of New Jersey and at Rutgers University.”
In addition to founding NovoPedics, Drs. Gatt and Dunn are faculty members at UMDNJ-Robert Wood Johnson Medical School.  Dr. Gatt is Chairman of the Department of Orthopedic Surgery where he specializes in sports medicine.  Dr. Dunn is an Associate Professor of Orthopedic Surgery and Founding Director of Orthopedic Research Laboratories there. His research focuses on tissue engineering approaches for regeneration and reconstruction of musculoskeletal soft tissues.  They are both also faculty members in the Graduate School of Biomedical Engineering at Rutgers, The State University of New Jersey.

About Foundation Venture Capital Group
Foundation Venture Capital Group, an affiliate of New Jersey Health Foundation, invests in commercially viable new start-up companies developing technology by faculty at or affiliated with the University of Medicine and Dentistry of New Jersey.  In addition to NovoPedics, FVCG portfolio companies currently include:
•    Actinobac Biomed Inc., developing a therapeutic agent targeting blood cells for the treatment of hematological malignancies;
•    Affineti Biologics, Inc., advancing research in the development of therapeutic and diagnostic products based on new discoveries in oral biology and dental medicine;
•    CellXplore, Inc., engaged in the development of biomarker-based in vitro diagnostic assays for cancer;
•    Celvive, Inc., developing technology to treat patients with chronic spinal cord injuries with their own adult stem cells;
•    Durin Technologies, exploring a blood test to diagnose Alzheimer’s, Parkinson’s and other neurodegenerative diseases;
•    GeneAssess, Inc., developing a diagnostic tool for more accurate breast cancer staging;
•    Longevica Pharmaceuticals, Inc., developing a chemoprotective agent that may keep normal cells healthy during cancer treatments (FVCG’s equity interest in Longevica was sold to Rostock International, LTD, a subsidiary of a Moscow (Russia) based global investment firm);
•    MentiNova, Inc., working to reduce side effects of L-Dopa Induced Dyskinesia
•    Snowdon Pharmaceuticals, Inc., a drug discovery company focused on several major therapeutic areas.

The post Foundation Venture Capital Commits $500,000 to NovoPedics appeared first on peHUB.

The Blackstone Group has informed Dell’s Special Committee of the Board that it will not submit a definitive bid to acquire the PC maker and is withdrawing from the process.

PRESS RELEASE

The Special Committee of the Board of Dell Inc. (NASDAQ: DELL) today announced that it has been informed by Blackstone Management Partners L.L.C. that the group led by Blackstone has decided not to submit a definitive proposal to acquire the Company and is withdrawing from the process.
Blackstone followed with a formal letter, the text of which is below:
Boulder Acquisition Corp.
c/o Blackstone Management Partners L.L.C.
April 18, 2013
STRICTLY PRIVATE AND CONFIDENTIAL
Special Committee of the Board of Directors of Dell Inc.
One Dell Way
Round Rock, Texas 78682
Attention: Alex Mandl, Presiding Director
Dear Alex,
I want to thank you, the Special Committee, and its advisors for inviting us into the process and for granting us due diligence access to Dell Inc. I also want to express our gratitude to Michael Dell and the management team for spending time with us and providing us with information and data relating to the business plan and financial forecasts of Dell.
You have asked for an update of our views after the intensive due diligence that we just completed. While we still believe that Dell is a leading global company with strong market positions, a number of significant adverse issues have surfaced since we submitted our letter proposal to you on March 22nd, including: (1) an unprecedented 14 percent market decline in PC volume in the first quarter of 2013, its steepest drop in history, and inconsistent with Management’s projections for modest industry growth; and (2) the rapidly eroding financial profile of Dell. Since our bid submission, we learned that the company revised its operating income projections for the current year to $3.0 billion from $3.7 billion.
For the reasons set forth above, among other reasons, on behalf of Boulder Acquisition Corp., Blackstone Management Partners, Francisco Partners, Insight Venture Partners, and Riverwood Capital, I regret to inform you that we will likely not pursue this opportunity. I would welcome the opportunity to speak to you to follow up on these matters and answer any questions that you may have.

Sincerely,

BOULDER ACQUISITION CORP.

By: /S/

Name: Chinh Chu

cc: Roger Altman, Evercore Partners
Forward-Looking Statements
Any statements in these materials about prospective performance and plans for the Company, the expected timing of the completion of the proposed merger and the ability to complete the proposed merger, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors or risks that could cause our actual results to differ materially from the results we anticipate include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (2) the inability to complete the proposed merger due to the failure to obtain stockholder approval for the proposed merger or the failure to satisfy other conditions to completion of the proposed merger, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; (3) the failure to obtain the necessary financing arrangements set forth in the debt and equity commitment letters delivered pursuant to the merger agreement; (4) risks related to disruption of management’s attention from the Company’s ongoing business operations due to the transaction; and (5) the effect of the announcement of the proposed merger on the Company’s relationships with its customers, operating results and business generally.
Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in the materials represent our views as of the date hereof. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof. Additional factors that may cause results to differ materially from those described in the forward-looking statements are set forth in the Company’s Annual Report on Form 10–K for the fiscal year ended February 1, 2013, which was filed with the SEC on March 12, 2013, under the heading “Item 1A—Risk Factors,” and in subsequent reports on Forms 10–Q and 8–K filed with the SEC by the Company.
Additional Information and Where to Find It
In connection with the proposed merger transaction, the Company filed with the SEC a preliminary proxy statement and other documents relating to the proposed merger on March 29, 2013. When completed, a definitive proxy statement and a form of proxy will be filed with the SEC and mailed to the Company’s stockholders. Stockholders are urged to read the definitive proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed merger or incorporated by reference in the proxy statement because they will contain important information about the proposed merger.
Investors will be able to obtain a free copy of documents filed with the SEC at the SEC’s website at http://www.sec.gov. In addition, investors may obtain a free copy of the Company’s filings with the SEC from the Company’s website at http://content.dell.com/us/en/corp/investor-financial-reporting.aspx or by directing a request to: Dell Inc. One Dell Way, Round Rock, Texas 78682, Attn: Investor Relations, (512) 728-7800, [email protected].
The Company and its directors, executive officers and certain other members of management and employees of the Company may be deemed “participants” in the solicitation of proxies from stockholders of the Company in favor of the proposed merger. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the stockholders of the Company in connection with the proposed merger, and their direct or indirect interests, by security holdings or otherwise, which may be different from those of the Company’s stockholders generally, will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. You can find information about the Company’s executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended February 1, 2013 and in its definitive proxy statement filed with the SEC on Schedule 14A on May 24, 2012.
About Dell
Dell Inc. (NASDAQ: DELL) listens to customers and delivers worldwide innovative technology, business solutions and services they trust and value. For more information, visit www.Dell.com. You may follow the Dell Investor Relations Twitter account at: http://twitter.com/Dellshares. To communicate directly with Dell, go to www.Dell.com/Dellshares.

The post Blackstone Pulls Out of Dell Bidding appeared first on peHUB.

Saban Capital Group has opened an office in Singapore. The office is led by Sumeet Jaisinghani, who has re-located to Singapore from Saban Capital Group’s Hong Kong office.

PRESS RELEASE

Saban Capital Group, a leading global media and communications investment firm, today announced the opening of a new office in Singapore by its wholly-owned subsidiary, Saban Capital Group (Asia) Pte Ltd. The office is led by Sumeet Jaisinghani, who has re-located to Singapore from Saban Capital Group’s Hong Kong office.
Saban Capital Group began investing in Asia in 2010 and has five portfolio investments in the region:
· Media Nusantara Citra (IDX: MNCN) – Southeast Asia’s largest, vertically-integrated media company;
· MNC Sky Vision (IDX: MSKY) – Indonesia’s dominant pay TV operator;
· Celestial Tiger Entertainment – a joint venture with Astro and Lionsgate on pay TV channels and content creation and distribution across Asia;
· Taomee (NYSE: TAOM) – the largest children’s online entertainment company in China; and
· Global Mediacom (IDX: BMTR) – Indonesia’s largest media holding company and the controlling shareholder of both Media Nusantara Citra and MNC Sky Vision.

Mr. Jaisinghani, who joined Saban Capital Group in 2008, has been involved with all of the firm’s investments in Asia.
Haim Saban, Chairman and Chief Executive Officer of Saban Capital Group, said, “Since we began investing in Asia in 2010, we have assembled a portfolio that includes partnerships with outstanding entrepreneurs, operating executives and leading business groups in the region, and is highly complementary with our relationships and investments outside of Asia. We have a strong desire to increase our capital commitment to Asia and further expand the footprint of our investment franchise.”
Adam Chesnoff, President and Chief Operating Officer of Saban Capital Group, said, “The opening of our office in Singapore highlights our continued focus on expanding our investment presence in Asia and, in particular, the increased emphasis that we have placed on Southeast Asia and India. We believe that our approach as strategic investors in media and communications, with a permanent base of capital, provides significant differentiation and added value to leading entrepreneurs and business groups in the region.”
Sumeet Jaisinghani, Director, Saban Capital Group (Asia), said, “We are excited about the opening of our Singapore office, which will result in closer touch points with investment activity in Southeast Asia and India. We will continue to be opportunistic on the investments that we seek and are open to a variety of growth equity, active minority investments and co-control situations. In addition to Southeast Asia and India, we are also looking selectively at opportunities in North Asia.” In the Singapore office, Mr. Jaisinghani will continue to oversee an investment team dedicated to transaction sourcing and execution.
Saban Capital Group was established in 2001 by Haim Saban and its private equity investments outside of Asia have included: Univision Communications, the largest Hispanic media company in the United States; Partner Communications (TASE and NASDAQ: PTNR), a leading mobile operator in Israel; Saban Brands, a wholly-owned global intellectual property and entertainment platform; Bezeq Telecommunications (TASE: BEZQ), the incumbent telecom operator in Israel; and ProSiebenSat.1 (FSE: PSM), the largest television broadcast company in Germany.
###

The post Saban Capital Opens Singapore Office appeared first on peHUB.

KKR has agreed to buy a majority stake in SMCP Group of Paris. Financial terms were not announced. KKR will have about 65% of SMCP while management will retain 35%. SMCP is an apparel retailing group, that operates in the attractive affordable luxury apparel segment across four brands: Sandro, Sandro Men, Maje and Claudie Pierlot.

PRESS RELEASE

Kohlberg Kravis Roberts & Co. LP (together with its affiliates, “KKR”) and SMCP Group (Sandro, Maje and Claudie Pierlot) (“SMCP” or “the Company”), a leading ready-to-wear affordable luxury apparel retailer, today announced that KKR signed a definitive agreement with SMCP’s current shareholders to acquire a majority stake in the Company alongside its management team. KKR will own approximately 65% of the Company’s share capital with management retaining approximately 35%. The agreement remains subject to regulatory approvals and customary closing conditions.

“I have created this beautiful family history with my sister, Judith Milgrom, and I am pleased to embark on a new phase of our lives with KKR. Alongside Elie Kouby and Frédéric Biousse, Judith and I are reaffirming our full commitment to the business and have great ambitions for the group: building a global leader in the affordable luxury segment”, said Evelyne Chétrite, President of SMCP Group.

“We are excited to partner with KKR”, added Frédéric Biousse, the CEO of SMCP Group. “We are proud of the Company’s strong development over the recent years and would like to thank our shareholders L Capital and Florac for their support. We look forward to working with KKR as we accelerate the international expansion of our brands, particularly in the United States and Asia. KKR’s global presence and extensive experience and track-record in the international retail sector will be important assets in helping us continue our growth trajectory”.

Jacques Garaïalde, Partner and Managing Director in charge of KKR’s French operations, added, “SMCP is a remarkable business with an outstanding management team. The Company has developed strong French brands with international appeal, and high quality products at affordable prices that meet the needs of consumers around the world. We are pleased to support the team in their growth strategy”.

Over the past five years, the Company has experienced significant growth driven by a combination of like-for-like growth and new store openings across its four brands: Sandro, Sandro Men, Maje and Claudie Pierlot. Today, the Company has established a leading position in the French affordable luxury segment and a fast-growing international business with strong positions in Europe and a growing presence in the USA and more recently Asia. SMCP operates more than 570 points of sale, and generated a turnover of 350 million euros in 2012. Approximately 150 new store openings are planned for 2013, mainly outside France.

“We are delighted to have accompanied SMCP Group during the last couple of years of rapid development and we wish the managers, founders and KKR much success”, added Daniel Piette and Eduardo Velasco from L Capital and Léopold Meyer from Florac.

KKR was advised by Rothschild & Cie and SMCP Group was advised by J.P. Morgan and Leonardo & Co.

About SMCP Group

SMCP Group is a leading apparel retailing group, operating in the attractive affordable luxury apparel segment across four brands: Sandro, Sandro Men, Maje and Claudie Pierlot. Sandro and Maje were founded by Evelyne and Didier Chétrite and Judith Milgrom and Alain Moyal in the late 1980s and 1990s, respectively. In 2007, Evelyne and Judith were joined by Frédéric Biousse and Elie Kouby to accelerate the development of their brands. Claudie Pierlot was acquired in early 2009 and SMCP Group was subsequently created in 2010 upon an investment made by L Capital and Florac. SMCP Group developed a unique and effective business model: combining luxury codes (marketing & communication, shopping experience) with creative design content and high-quality fabrics while leveraging best practices from the fast fashion industry (short collection cycles and reactivity to market trends supported by an efficient supply chain). Having already opened 69 retail outlets in North America over the last 18 months, Sandro, Maje, and Claudie Pierlot also have five stores in Hong Kong and will open their two first stores in Shanghai in July, followed by four additional stores by the end of the year.

About KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $75.5 billion in assets under management as of December 31st, 2012. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR & Co. L.P. is publicly traded on the New York Stock Exchange (NYSE: KKR), and “KKR,” as used in this release, includes its subsidiaries, their managed investment funds and accounts, and/or their affiliated investment vehicles, as appropriate.

Shareholders

L Capital: Eduardo Velasco, Philippe Franchet and Manal Saleh

Florac: Léopold Meyer, Olivier Golder and Gautier Preney

Advisers

Buyers: Rothschild & Cie (Laurent Baril), Bredin Prat (Sébastien Prat), Simpson Thacher & Bartlett, Landwell, McKinsey, Roland Berger, Anne Beall, Deloitte.

Sellers: JP Morgan (Séverin Brizay), Leonardo & Co (Laurance Danon), The Financial Company of Edmond de Rothschild, SJ Berwin (Jérôme Jouhanneaud), DLA Piper (Michel Frieh), Shearman & Sterling (Guillaume Isaultier), KPMG (Axel Rebaudières and Vincent Delmas), Taj (Sophie Blegent-Delaphille), Oloyrn (Frédéric Jannin and Eric Lesieur).

The post KKR Invests in SMCP appeared first on peHUB.

CIC Bancshares has received an investment from Consumer Capital Partners and Rick Schaden, CPR’s founder and chairman. Financial terms weren’t announced. Denver-based CIC operates Centennial Bank.

PRESS RELEASE

Consumer Capital Partners, (CCP), the owner of the fastest growing better burger chain in America, Smashburger, announced today that its Founder and Chairman, Rick Schaden, is diversifying his investments further by investing in a local Colorado-based bank holding company, CIC Bancshares, the owner and operator of Centennial Bank.  The privately-owned bank has nine locations throughout the Front Range and mountain resort communities.  Schaden made the investment in CIC Bancshares to support Centennial Bank’s mission of providing loans to small businesses and contribute to the strength of the Colorado economy.

“People often ask me to talk about what drives me or what inspires me.  The answer has always been about helping small businesses and fostering entrepreneurialism,” said Schaden “I remember how I got my start in business with a loan from my dad and a local small business bank.  Without this financial support, I would have never been able to open my first restaurant.  Today I look back and see how that initial help allowed me to develop and grow two international restaurant chains and invest in a variety of other business ventures.  It was apparent that Centennial Bank shares this same passion for supporting small businesses and entrepreneurs.”

Supporting small-to-mid sized businesses is a strategic vision of Centennial Bank.  Local manufacturers, professional services firms, real estate developers and construction contractors are all examples of small businesses that are receiving financial support through Centennial Bank.  According to Kevin Ahern, President and CEO of CIC Bancshares and Chairman of Centennial Bank, “We pride ourselves on fueling local economic growth by providing capital to small business owners.  It’s our niche, along with our relationship-based business approach with our customers. With Rick’s involvement, combined with our extensive list of other local shareholders, we not only have access to the capital resources we need to grow, but we also have extensive Colorado-based business connections that lead to additional business for the bank.”

About Consumer Capital Partners
Consumer Capital Partners is an innovative investment and operating company focused on consumer and lifestyle brands like Smashburger, the USA Pro Challenge (professional cycling race), CIC Bancshares and Centennial Bank, FrontRange Capital Partners, as well as associated restaurant concepts like Tom’s Urban 24.

About CIC Bancshares and Centennial Bank
CIC Bancshares, Inc. is a privately-held Colorado-based bank holding company focused on acquiring and developing banking and financial services assets in Colorado and the Rocky Mountain West.  Centennial Bank, established in 1986 and acquired by CIC Bancshares, Inc. in 2010, is a full-service community bank focused on providing banking solutions to businesses, business-owners, professionals and consumers in Colorado. Centennial Bank provides personalized service to customers for their business and personal banking needs with nine locations and over $400M in assets. For more information, please visit www.CentennialBanking.com.

The post Consumer Capital Invests In CIC Bancshares appeared first on peHUB.

Box has hired three enterprise technology executives. Justin Somaini, Yahoo!’s ex-chief information security officer, has joined Box as the company’s first chief trust officer. Niall Wall, a Symantec veteran, has joined Box as their SVP of business development. And Jeff Mannie, an ex-PayPal executive, was named Box’s VP and controller.

PRESS RELEASE

Box today announced the hiring of three enterprise technology leaders. Justin Somaini, formerly Chief Information Security Officer for Yahoo! and Symantec, joined Box as the company’s first Chief Trust Officer. Niall Wall, also a veteran of Symantec, where he held several senior leadership roles, joined as Senior Vice President of Business Development. And Jeff Mannie joined Box as Vice President and Controller from PayPal, where he held leadership roles in finance.
“The power of the cloud resides in giving people access to their information whenever and wherever they need it, unlocking potential innovation in every industry,” said Aaron Levie, co-founder and CEO, Box. “To succeed, everyone — users, managers, and especially IT — have to deeply trust the cloud and be open to transforming the way they work. Justin, Niall and Jeff are a perfect fit with Box: they bring deep functional experience and the enterprise savvy to drive change.”
Somaini, Wall and Mannie are joining Box at a time of rapid growth and expansion for the company. Sales in 2012 grew more than 150 percent, and Box recently received the highest possible rating by Gartner, Inc. in its report “MarketScope for Enterprise File Synchronization and Sharingi.” The company’s fast growth and traction in the enterprise market, its ability to meet the needs of end users and satisfy enterprise requirements, and its extensive ecosystem of partners all contributed to a strong positive rating.
Justin Somaini, VP and Chief Trust Officer
As Chief Trust Officer, Somaini will be responsible for working globally and collaboratively across Box’s growing customer base, technical operations, business development teams, and partners to ensure the company is consistently delivering on its information security commitments, investing to meet the rapidly evolving security environment, and building transparent, deeply trusted relationships with its customers.
“Trust is about delivering on commitments consistently over time,” said Somaini. “Box’s leadership in security and its commitment to customer success have clearly driven traction in the marketplace. I’m excited to have the opportunity to not only work with an amazing team at Box, but to advocate for a vision that raises the bar for information security and customer trust in the cloud industry-wide.”
Most recently, Somaini created and held the role of Chief Information Security Officer (CISO) at Yahoo!, driving security planning and operations for the company, which serves more than 700 million consumers worldwide. Prior to Yahoo!, Justin was CISO of Symantec. He developed the company’s Information Security Enterprise Risk Management process, worked cross-functionally to manage critical incidents to resolution and drove implementation of controls for both a significant threat environment and regulatory needs. In addition to his roles at Yahoo! and Symantec, Justin was Director of Information Security at Verisign and an advisor to Palo Alto Networks. He received a Bachelor’s of Science degree in Management Information Systems from Drexel University.
Niall Wall, Senior Vice President, Business Development
Niall Wall brings a deep background in enterprise software and cloud services to Box, as well as a track record of establishing and growing global businesses. Most recently, Niall held several senior leadership roles at Symantec, including VP and General Manager of the Norton Data Services, VP of the Data Protection Group, and VP of Business Development and Alliances. In his tenure at Symantec, Niall built one of the world’s leading consumer cloud services businesses and established and led the business development organization, contributing to the company’s overall growth from less than $1B to more than $6B in annual revenue today.
At Box, Niall will lead Box’s global business development organization, overseeing the company’s overall partnership strategy, relationships, and strategic alliances.
Prior to his roles at Symantec, Niall held product management and product marketing leadership roles at Oracle and Digital Equipment Corporation. He holds Master’s and Bachelor’s degrees from the National University of Ireland, Galway.
Karen Appleton, former Vice President of Business Development at Box, has been promoted to a new role as Senior Vice President of Global Alliances. In her new role, Karen will oversee the company’s relationships with key global customers and manage Box’s international expansion, government relations, and corporate social responsibility programs. The Silicon Valley Business Journal recently named her as one of the most influential women in Silicon Valley.
Jeff Mannie, VP and Controller
As Controller, Jeff Mannie will oversee external reporting, financial policies and controls, global accounting and financial systems. Mannie brings more than 25 years of Controller and leadership experience to Box, including high-growth and complex accounting companies. Prior to joining Box, Jeff was Senior Director, Global Controller at PayPal (an EBay company). While he was at PayPal, annual revenues grew from approximately $1.5B to over $5.0B. Before PayPal, he held accounting and finance leadership roles at Integrated Device Technology, Inc., a mixed-signal semiconductor company, and Comerica Bank. He is a CPA, an alumnus of Ernst & Young and graduated from the University of California, Santa Barbara.
About Box
Founded in 2005, Box provides a secure content sharing platform that both users and IT love and adopt. Content on Box can be shared internally and externally, accessed through iPad, iPhone, Android and Windows Phone applications, as well as extended to partner applications such as Google Apps, NetSuite and Salesforce. Headquartered in Los Altos, CA, Box is a privately held company and is backed by venture capital firms Andreessen Horowitz, Bessemer Venture Partners, Draper Fisher Jurvetson, Emergence Capital Partners, General Atlantic, Meritech Capital Partners, NEA, Scale Venture Partners, and U.S. Venture Partners, and strategic investors salesforce.com and SAP. To learn more about Box, visit www.box.com.
i Gartner “MarketScope for Enterprise File Synchronization and Sharing” by Monica Basso, Jeffrey Mann, February 12, 2013.

The post Box Hires Three Enterprise Tech Execs appeared first on peHUB.

Silver Lake said Thursday it closed its latest large-cap technology investment fund at $10.3 billion. The target for Silver Lake Partners IV was $7.5 billion. The firm, which is bidding for Dell, said it received $10 billion in LP capital commitments. The $10.3 billion is the largest amount ever raised for technology investment focused PE fund, Silver Lake said.

PRESS RELEASE

Silver Lake, the global leader in technology investing, announced today the final closing of Silver Lake Partners IV, its latest large-cap technology investment fund. The firm accepted limited partner capital commitments up to its cap of $10 billion, surpassing its fundraising target of $7.5 billion. In aggregate with the general partner and affiliates, the $10.3 billion in total commitments for Silver Lake Partners IV is the largest amount ever raised for a technology investment-focused private equity fund.
“We received strong investor demand for this fund and are deeply gratified by the confidence in Silver Lake demonstrated by our limited partners, many of whom have been long-term investors with us,” said the firm’s Managing Partners. “We appreciate the continued support of our investors and welcome new investors in the fund.” Silver Lake’s Managing Partners are Mike Bingle, Jim Davidson, Egon Durban, Ken Hao, and Greg Mondre.
“Closing our Silver Lake Partners IV fund extends opportunities to strategically and selectively invest in market leaders in the global technology industry,” the Managing Partners added, “and to partner with management teams in a differentiated way, leveraging our expertise and range of international relationships developed since our founding fourteen years ago.” Silver Lake now manages over $23 billion in combined assets under management and committed capital.
Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. The firm invests in the broad value chain and sub-verticals of the global technology sector, from semiconductors, cloud computing, and IT infrastructure to tech-enabled financial markets, transaction processing, mobile communications, and e-commerce. Portfolio companies in which Silver Lake invests collectively generate approximately $30 billion in annual revenue and employ 97,000 people around the world.
“We are honored to have a large group of investors who have entrusted their capital with Silver Lake,” said Susannah Carrier, Managing Director and head of Silver Lake’s fundraising and investor relations. “Our strategic discipline, deep technology expertise, and commitment to the standards of excellence and alignment of interests expected by our limited partners contributed to our fundraising success and to the continued development of a strong investment partnership.” Ms. Carrier added: “We have attracted both a large percentage of our existing investors as well as strategic new investors to our latest fund, and we will endeavor to earn their continued support by maintaining our focus on investment performance.”
Investors in Silver Lake Partners IV and Silver Lake’s other funds include public and corporate pension funds, sovereign wealth funds, endowments, foundations, funds of funds, family offices and individual investors.
About Silver Lake
Silver Lake is the global leader in private investments in technology and technology-enabled industries. Silver Lake invests with the strategic and operational insights of an experienced industry participant. The firm has approximately 100 investment and value creation professionals located in New York, Menlo Park, San Mateo, London, Hong Kong, Shanghai and Tokyo and manages over $23 billion. The Silver Lake Partners portfolio includes or has included technology and technology-enabled industry leaders such as Alibaba, Allyes, Ameritrade, Avago, Avaya, Business Objects, Flextronics, Gartner, Gerson Lehrman Group, Instinet, Intelsat, Interactive Data Corporation, IPC Systems, MCI, Mercury Payment Systems, MultiPlan, the NASDAQ OMX Group, NetScout, NXP, Sabre, Seagate Technology, Serena Software, Skype, Spreadtrum, SunGard Data Systems, UGS, Vantage Data Centers, and William Morris Endeavor. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.

The post Silver Lake Collects $10.3 Bln for Latest Fund appeared first on peHUB.

Janney Capital Markets said Thursday that Brandon Eck and James McNaughton were made MDs of its investment banking group, while Brian Van der Waag and Andrew Kurz were named vice presidents. Eck and Kurz are both part of Janney’s technology & media group, while McNaughton works in the financial sponsor group and Van der Waag contributes to the infrastructure group.

PRESS RELEASE

Janney Capital Markets today announced it has named Mr. Brandon Eck and Mr. James McNaughton as Managing Directors and Mr. Brian Van der Waag and Mr. Andrew Kurz as Vice Presidents in its Investment Banking Group.

Mr. Eck will continue to be a key member of the Technology & Media Group, where he has been a senior leader, spearheading Janney’s outsourcing and financial technology efforts for the past four years. “Brandon’s promotion to Managing Director represents an acknowledgement of the fine work he has done for clients, the depth of his industry knowledge and his commitment to building the Janney franchise,” said Chris White, Janney’s Head of Investment Banking. Mr. Eck brings extensive experience in a wide range of corporate transactions, including public equity offerings, mergers and acquisitions, private placements, fairness opinions and other financial advisory transactions.

Mr. Eck is a graduate of Gettysburg College with a B.A. in Management with a concentration in Finance.

——

Mr. McNaughton will continue to play a significant role in the Financial Sponsors Group, coordinating the firm’s relationships across the U.S. “Jim’s efforts and work within the financial sponsors universe as well as his extensive advisory expertise continues to be invaluable to Janney’s success and we know that our clients benefit from his hard work and dedication,” said Mr. White. Mr. McNaughton brings extensive experience in a wide range of corporate transactions, including public equity offerings, mergers and acquisitions, private placements, fairness opinions and other financial advisory transactions.

Mr. McNaughton is a graduate of the The Wharton School of the University of Pennsylvania with a B.S. in Economics and NYU’s Stern School of Business with an M.B.A in Finance.

——

As Vice President, Mr. Van der Waag will continue to contribute to the Infrastructure Group. “Brian has made a strong impact within our group over the past few years and deserves to be recognized for his valuable contributions,” said Joe Culley, Janney’s Head of Infrastructure Investment Banking. Mr. Van der Waag’s promotion further strengthens Janney’s infrastructure and industrials coverage.

Mr. Van der Waag is a graduate of Georgetown University with both a B.S. in Finance and an M.B.A.

——

Mr. Kurz, a member of Janney’s Technology & Media Group, has been named a Vice President.  His promotion strengthens Janney’s technology sector coverage. “Andy has been a key member of the technology group, whether taking the lead on deal execution or working with other bankers to provide client solutions,” said Peter Blackwood, Janney’s Head of Technology & Media Investment Banking.  “We are excited to see him take this next step, and look forward to his continued contribution to the team,” commented Mr. Blackwood.

Mr. Kurz is a graduate of Hamilton College with a B.A. in Economics.

The post Janney Capital Announces Promotions appeared first on peHUB.

Merex Holding Corp. has acquired Aircraft Logistic-support Co. Financial terms weren’t announced. Dubin Clark & Co. is also an investor. Livermore, Calif.-based ALCO provides maintenance, repair and overhaul services for auxiliary power units and engine driven compressors.

PRESS RELEASE

Enhancing its ability to provide “Total Support” services for U.S. manufactured legacy military platforms to its global customer base, Merex Holding Corporation (Merex) has acquired Livermore, CA-based Aircraft Logistic-support Company (ALCO).  ALCO is a provider of Maintenance, Repair and Overhaul (MRO) services for auxiliary power units (APUs) and engine driven compressors (EDCs), as well as a variety of other critical components for hydraulic, pneumatic, fuel and electrical systems.  For more than 20 years, ALCO has earned its reputation for providing unparalleled customer support for legacy military aircraft including: C-130, P-3, F-18, F-16, and F-15 as well as commercial aircraft including: Boeing 737, 757 and 767.

“ALCO will strengthen our ability to service our international customers.” said Andy Shams, president and CEO of Merex.  “ALCO’s high-quality MRO services and technical expertise make them a great addition to the Merex team and an important element of our growth strategy.”

”We are enthusiastic about the opportunity to become part of Merex,” said Robert Cantu, president of ALCO.  “Merex provides the platform and resources for ALCO to expand and grow its repair capabilities.” Cantu will continue to provide leadership in his role as president of ALCO.

Merex partnered with investment group Dubin Clark & Company for the acquisition of ALCO.  Financial terms of the deal were not disclosed.

“We see the opportunity for further consolidation in the industry. The acquisition of ALCO continues our plan to offer a comprehensive range of products and services to our established customer base,” said Tom Caracciolo, managing partner at Dubin Clark & Company.

About Merex:
Founded in 1982, Merex is a premier provider of comprehensive support for U.S. manufactured legacy defense platforms including aircraft, helicopters and their respective engines. Supporting more than 35 armed forces worldwide that operate aging defense platforms,  Merex’s   “Total Support“ approach of providing spares/components,  repair/overhaul management, and project management of systems upgrades has been instrumental in the company’s success in this growing market.  Further information is available at www.merexinc.com.

About ALCO:
Founded in 1992, ALCO operates as a Maintenance, Repair and Overhaul (MRO) facility for servicing auxiliary power units (APUs), engine driven compressors (EDCs) as well as a variety of other components for hydraulic, pneumatic, fuel and electrical systems. ALCO supports military aircraft including: C-130, P-3, F-18, F-16 and F-15 as well as commercial aircraft including: 737, 757 and 767.  ALCO currently maintains FAA Open Class I, II, III, Accessory and Limited Instruments Ratings. Further information is available at: www.alco.aero.

About Dubin Clark & Company:
Dubin Clark & Company is a private equity investment firm. Founded in 1984, Dubin Clark & Company focuses exclusively on purchasing and cultivating businesses into profitable enterprises, all the time working alongside the businesses’ preexisting management. The company’s corporate philosophy states its desire to “maintain each company’s values, independence and culture; our goal is to build on what has already been achieved.”  Further information is available at www.dubinclark.com.

The post Merex Buys ALCO appeared first on peHUB.