LONDON: FD Technologies (AIM: FDP.L) has entered into an agreement to sell the Group’s First Derivative Business to EPAM Systems Inc. for an enterprise value of £230m. The divestment is expected to complete in the fourth quarter of 2024, subject to shareholder approval, amongst other things. Seamus Keating, CEO of FD Technologies, said: “This Divestment…
Author: Bernice Miles
Partners Group is selling Techem, an energy services provider, for EUR 6.7 billion
LONDON: Partners Group is selling Techem, an energy services provider, for EUR 6.7 billion Partners Group, the Investment Manager of Partners Group Private Equity (PGPE), has agreed to sell its majority stake in Techem, an international provider of digitally enabled solutions for the building ecosystem, to TPG and GIC, on behalf of its clients. The…
Luceco plc has acquired CMD Limited for £30 million
LONDON: Luceco plc, the supplier of wiring accessories, EV chargers, LED lighting, and portable power products, has acquired CMD Limited (CMD), the market-leading manufacturer of wiring accessories for the workplace, through the acquisition of its ultimate parent company, Baltic Topco Limited, from Rubicon Partners and management for cash consideration of £30.0m, on a cash and…
Close Brothers selling wealth management business, CBAM, to Oaktree Capital for £200 million
LONDON: Close Brothers Group has agreed to sell its wealth management business, Close Brothers Asset Management (CBAM), to funds managed by Oaktree Capital Management, L.P. for an equity value of up to £200 million. Mike Biggs, Close Brothers’ Chairman, commented: “Following a comprehensive strategic review, the Board is pleased to announce the agreed sale of…
L&G to sell UK house builder CALA Group for an enterprise value of £1.35bn
LONDON: Legal & General Group (L&G) has agreed the sale of the UK house builder CALA Group for an enterprise value of £1.35bn, to Ferguson Bidco Limited, an entity owned by funds managed by Sixth Street Partners and Patron Capital. The transaction is expected to complete in Q4 2024. The consideration for the sale will…
Playtech sells Snaitech to Flutter Entertainment at enterprise value of €2.3 billion
LONDON: Playtech plc has entered into a definitive agreement for the sale of Snaitech S.p.A. and certain of its subsidiaries to Flutter Entertainment Holdings Ireland Limited for a total enterprise value of €2.3 billion in cash. Snaitech is one of the leading Italian B2C sports betting and gaming companies in online and retail, and employs…
JTC to acquire Citi Trust, a fiduciary and trust administration services business, for $80million
LONDON: JTC, the global professional services provider, announced the proposed acquisition of the global fiduciary and trust administration services business (Citi Trust) from Citigroup Inc. for a total consideration of $80million. The acquisition is subject to customary regulatory approvals in all relevant jurisdictions and is expected to complete in H1 2025. The acquisition will be…
Flutter Entertainment Brazilian operator of Betnacional, NSX Group, for $350 million
LONDON: Flutter Entertainment (NYSE:FLUT), the world’s leading online sports betting and iGaming operator, today announced the acquisition of an initial 56% stake in NSX Group, a leading Brazilian operator of the Betnacional brand for cash consideration of approximately $350 million. The transaction fully aligns with Flutter’s strategy to invest in leadership positions in international markets, securing a…
Renold plc has acquired MAC Chain Company for $31.4mn
LONDON: Renold plc, a leading international supplier of industrial chains and related power transmission products, has acquired the trade and net assets of MAC Chain Company Ltd (U.S.) and the entire issued share capital of MAC Chain Company Limited (Canada), for a total cash consideration of US$31.4 million. MAC Chain is being acquired on a…
Spectris plc has acquired Piezocryst Advanced Sensorics GmbH for €133.5 million
LONDON: Spectris plc (SXS: LSE), the expert in providing insight through precision measurement, today announced the acquisition of Piezocryst Advanced Sensorics GmbH from AVL List GmbH (AVL) for €133.5 million (£112.2 million). The acquisition of Piezocryst builds on our long-standing relationship with AVL. Based in Graz, Austria, Piezocryst has been a leading provider of piezoelectric…
Petershill Partners has sold its entire stake in LMR Partners for $258 million
LONDON: Petershill Partners plc, the diversified, global alternatives investment group focused on private capital strategies, announced the sale of its stake in LMR Partners Petershill Partners has completed the sale of its entire stake in LMR Partners back to LMR Partners’ leadership team. The total nominal consideration of up to $258 million consists of $107…
Nexteq Plc appoints Duncan Faithfull as Group Chief Executive Officer
LONDON: Nexteq Plc (AIM: NXQ), a leading technology solutions provider to customers in selected industrial markets, today announces that Duncan Faithfull, currently Gaming Business Leader and Chief Commercial Officer at Nexteq, has been appointed to the Board as Group Chief Executive Officer with immediate effect. Duncan joined the Group in 2020 to lead the Quixant division where…