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KBS Corporate annouce the sale of CVSI Limited
Guy Haynes, Senior Deal Executive at KBS Corporate who advised CVSI in this transaction, said “The overriding objective of the Directors at CVSI was to find a new owner that could build on the Company’s success and provide CVSI with a bright future. CSI and Blackhawk Capital were clearly able to deliver on these objectives, as well as being able to offer a clean deal that was not reliant on deferred consideration or earn out. The transaction was underpinned by a strong relationship between Kevin Lewis on the buyer’s side and our Clients, which means that this deal was completed with a great deal of optimism for the future on all sides. I feel sure that this is the right deal for Marie and the people at CVSI, and I wish all parties well for the future.”
KBS Corporate advise on the acquisition of Compubyte Systems Limited
Compubyte Systems Limited has been acquired by the LDD Group Limited for an undisclosed sum, assisted in negotiations by KBS Corporate, Bolton based specialist in company sales and brokerage services.
Established in 1999, Compubyte, based in Cullingworth near Bradford in West Yorkshire provides a full range of I.T. services to Primary Schools in the West Yorkshire/Lancashire areas including I.T. maintenance, installations and also the leasing of I.T. equipment.
The acquirer, LDD Group Limited, based in nearby Horsforth near Leeds, was established by Ian Sellars and Paul Hartley in 1993 and provides tailored I.T. hardware, software and integrated services to public and private sector companies across the UK. LDD are the outsourcing provider to local government departments, NHS Foundation Trusts, local manufacturing and education establishments.
The acquisition of Compubyte will enable the LDD Group to grow their service offering in the Educational sector, adding to their 20 strong employee base and £10m annual turnover.
Full terms of the deal have not been disclosed for the acquisition which completed on 30th April 2013.
Deal executive Tom Eatough of KBS Corporate who was integral to the sales process comments “LDD Group is a well suited acquirer for Compubyte and I am delighted that we managed to agree a deal. It was a pleasure to work with Bill & Elaine and I wish them the best for their impending retirement.”
KBS Corporate Advise on the Acquisition of Logictrans UK Limited
Springfield Homecare Services makes first Business Growth Fund-backed acquisition
Business Growth Fund portfolio company Springfield Homecare Services has closed its first acquisition since the business was supported by the bank-backed fund in June 2012.
Springfield Homecare Services, part of Springfield Healthcare Group, has bought domiciliary care business Positive Life Choices using capital provided by the Business Growth Fund (BGF).
Kidsunlimited bought by US-based childcare provider
Private equity player LDC sees exit in childcare sector as nursery care provider kidsunlimited is acquired.
Bright Horizons Family Solutions, a global provider of employer-sponsored childcare and early education, has acquired kidsunlimited, one of the UK’s largest providers of nursery care, for a cash consideration of £45 million.
Six Degrees Group makes geographical play by acquiring London-based colocation business
Data services company Six Degrees Group has closed its thirteenth acquisition since its October 2011 launch.
Six Degrees Group has added a Central London date centre to its portfolio by purchasing BIS for an undisclosed amount.
The transaction represents the thirteenth acquisition in a year and a half, following the formation of Six Degrees by British entrepreneur Alastair Mills.
Malmaison and Hotel du Vin chains bought by American buyer KSL
Boutique hotel brands Malmaison and Hotel du Vin are now under private equity ownership following a deal involving American firm KSL Capital Partners.
Malmaison Group has been acquired by KSL Capital Partners, a US-based private equity firm, for an undisclosed amount.
The deal sees KSL take ownership of brands including Malmaison and Hotel du Vin and will involve KSL investing ‘significantly’ to develop the UK positioning of the two hotel brands.
Trade buyer for Interlube Systems
NVM Private Equity has exited one of its oldest portfolio companies by selling Interlube Systems through a trade sale.
Following an investment interest of 12 years, Interlube Systems has been sold by NVM Private Equity to a subsidiary of the US-based The Tinken Company.
Although the acquisition of the lubrication products business has been completed for an undisclosed amount, NVM says that the transaction has netted the firm a 3x return on original investment.
Tesco snaps up restaurant chain Giraffe as part of plans to develop larger stores
Supermarket chain Tesco has acquired the Giraffe restaurant chain for £48.6 million and now intends to turn it into a ‘family-friendly’ retail destination.
Risk Capital Partners has sold its minority stake in restaurant company Giraffe through a deal with an enterprise value of £48.6 million.
The deal represents an 8x multiple of Risk Capital Partners’ original valuation and comes after the investment firm grew the chain from seven central London locations to 48 sites around the UK.
Courier business CitySprint notches up eighth private equity-backed buy
CitySprint has added another acquired company to its armoury through its eighth purchase since its backing by private equity firm Dunedin.
Distribution company CitySprint has bought Sameday UK for an undisclosed amount as it continues to use the support of its private equity backer.
Private equity firm Dunedin first invested in CitySprint back in December 2010 with a mandate to support its buy-and-build acquisition activity.
Expansion purchase for Care UK as it snaps up UK Specialist Hospitals
Care UK has closed the acquisition of UK Specialist Hospitals to expand its resources and expertise.
UK Specialist Hospitals, which operates elective surgery centres for NHS funded patients, has been bought by Care UK for an undisclosed amount.
The newly-acquired business operates five treatment centres in the south west of England, which will now sit alongside the six Care UK centres in the London, Southampton, Portsmouth, Gillingham and Bradford.
Secondary funds acquisition for Electra as it ramps up bank assets activity
Electra Partners has snapped up a clutch of secondary private equity funds in a deal which it describes as a ‘discount’.
Private equity firm Electra Partners has invested £56 million to acquire a portfolio of funds from a bank.
The five secondary private equity funds are being bought from a bank at what is described as a ‘discount’ to the net asset value. Electra says that it expects to generate ‘strong cash distributions’ over the next few years.
Solfex Energy Systems sold to trade buyer Travis Perkins
Portfolio company Solfex Energy Systems has been sold by Panoramic Growth Equity netting the firm an IRR of 62 per cent
Equity investor Panoramic Growth Equity has exited its interest in renewable energy distribution business Solfex Energy Systems through a deal with Travis Perkins
Etsy buys mobile app start-up Mixel to develop its own offering
A US-headquartered e-commerce platform for vintage products and handmade items has bought Mixel.
Etsy, which is backed by UK-based venture capital firms Index Ventures and Accel Partners, has closed its third acquisition and snapped up Mixel.
Love Home Swap closes maiden acquisition as it gets the keys to 1stHomeExchange
Venture capital-backed Love Home Swap has landed its first acquisition, using the investment capital it secered through its two 2012 fundraisings.
London-based Love Home Swap has bought 1stHomeExchange and reportedly trebled the size of its portfolio of properties to 35,000.
Buy and build acquisition for specialist healthcare business Horizon Care
NGBI Private Equity portfolio business Horizon Care has made a bolt-on acquisition with the help of its backer.
Midlands-based specialist care and education business Horizon Care has bought Educare Adolescent Services for an undisclosed amount.
Horizon Care provides children with severe and complex needs with specialist care and education. It has bought local company Educare Adolescent Services to bolster the number off homes and schools and has now added sites in Shropshire and Leicestershire.
Breaking News As KBS Corporate Announce the Sale of JHR Educational Ltd
KBS Corporate, Bolton based specialist in company sales and brokerage services, has assisted in negotiations to complete the deal for JHR Educational Ltd, trading as Playground Basics, which sold to Demco Europe Ltd on March 1st 2013 for an undisclosed sum.
KBS Corporate Announce the Sale of Soar Mill Seeds Ltd
KBS Corporate advise on MBI for K G Coating Limited
Avis drives off with car sharing business after snapping up Zipcar
Fledgling NASDAQ company Zipcar has been snapped up by car hire company Avis for a 49 per cent premium over its closing price on 31 December 2012, a year after listing on the exchange.
Zipcar works through an annual joining fee which then allows users (or ‘Zipsters’) to rent cars by the hours. The business, which has operations in the US, Canada, UK, Spain and Austria, has 760,000 members.
WestBridge Capital-led MBO for Anglia Business Solutions as it targets US growth
Cambridge-based Anglia Business Solutions has been acquired through a management buy-out (MBO) worth £6 million, achieving an exit for a family shareholder.
As part of the deal, WestBridge Capital has taken a lead role and provided £2.6 million in return for a 43 per cent stake in the food supply chain software company.
CitySprint delivers Eagle Express buy as buy-and-build acquisition activity continues
Distribution network CitySprint has added Eagle Express Worldwide Couriers to its business portfolio through an undisclosed acquisition.
Private equity backer Dunedin has supported the deal, the fourteenth time one of its portfolio companies has closed such a deal in 2012.
Online cosmetics venture feelunique bought by Palamon Capital Partners
London-based feelunique.com (feelunique) is now under private equity ownership following Palamon Capital Partners £26 million purchase of the company.
Founded in 2005, feelunique is an online retailer of haircare, skincare, cosmetics and fragrances products from its base in the Channel Islands.
Kitwave snaps up Teatime Tasties as part of acquisition-led growth strategy
NVM Private Equity portfolio business Kitwave has bought Teatime Tasties for an undisclosed amount.
The company, which operates from warehouses across the North and the Midlands selling tobacco, alcohol, confectionery and soft drinks, was initially backed by NVM in April 2011 through a £7.5 million fundraising. It was established in 1987 as an acquisition vehicle set up to purchase small confectionary wholesale business M&M Value.
New funds deployed by Playtech
Playtech, a software company founded by technology entrepreneur Teddy Sagi, has acquired UK-based e-gaming business Geneity in a deal worth £11 million.
AIM-listed Playtech, which made a move to the junior stock market in 2006, says the acquisition is ‘strategically significant’ as it brings a modern, proven, robust and scalable sports betting platform to Playtech’s offering.
American acquisition for Weir
Engineering business The Weir Group has made an American acquisition with the $176 million (£113 million) purchase of Dallas-based Novatech.
Novatech manufactures technology for valve and valve seats involved in high pressure applications for the oil and gas industry. The company is being acquired from its previous private family ownership.
Huawei acquires CIP Technologies
Chinese telecommunications business Huawei has increased its investment in UK companies through the acquisition of CIP Technologies.
The move is part of Huawei’s strategy to bolster its UK research and development capabilities through the launch of a UK research centre.
EDM buys Filing Plus with LDC support
LDC-backed EDM Group has acquired document management consultancy business Filing Plus for an undisclosed amount.
The deal, which is being funded using capital from its private equity partner, follows on from LDC’s initial investment in EDM Group in September 2011.
German manufacturer receives 3i support
Private equity firm 3i has agreed to acquire a majority stake in Geka, a business which manufactures brushes, applicators and packaging systems for the cosmetics industry.
The undisclosed deal sees previous investor Halder exit its involvement in the German-based company. Halder, which focuses on management buy-outs in the German SME sector, initially held a stake in the company between 1999 and 2004, before taking it over with co-investor Idinvest in 2007.