LONDON: Rosebank announced Thursday the acquisition of U.S.-based Electrical Components International (ECI), a market leader in critical electrical distribution systems, in a deal financed through debt facilities and a fully underwritten institutional capital raise of approximately £1.14 billion ($1.45 billion). The acquisition, Rosebank’s first under its “Buy, Improve, Sell” strategy, aims to enhance shareholder value…
Apax Global Alpha to invest additional €3M in WGSN following IWSR acquisition
LONDON: Apax Global Alpha (AGA), the closed-ended investment company linked to the Apax Private Equity Funds, announced Friday that it expects to invest an additional approximately €3 million in WGSN after the trend forecaster’s acquisition of IWSR, a leading provider of beverage alcohol market insights. WGSN, a portfolio company of the Apax XI Fund, disclosed…
SDI Group Acquires Severn Thermal Solutions for £4.75M
CAMBRIDGE: SDI Group plc, a buy-and-build company specializing in lab equipment, industrial sensors and scientific products, has acquired Severn Thermal Solutions Ltd., a designer and manufacturer of high-temperature furnace systems and environmental chambers, for a net consideration of £4.75 million ($6.1 million). Severn, based in Dursley, U.K., produces advanced material testing and processing systems used…
Pinewood.AI to acquire Lithia’s stake in North American JV in $76.5 million deal
LONDON: Pinewood.AI, a leading cloud-based software provider for the automotive retail sector, has agreed to acquire Lithia UK Holdings Limited’s 51% stake in Pinewood North America LLC for $76.5 million, the company announced today. The deal, structured through the issuance of 14,560,691 new ordinary shares in Pinewood.AI at 386.5 pence per share, values the joint…
AIB Group sells shareholding in AIB Merchant Services to Fiserv
LONDON: AIB Group plc (AIB) today announced that it has reached agreement on the sale of its minority stake in AIB Merchant Services (AIBMS) to Fiserv, Inc.. Founded in 2007, as a Joint Venture (JV) between AIB and Fiserv, AIBMS is one of Ireland’s largest payment solution providers and one of Europe’s largest e-commerce acquirers….
St Barbara to acquire 14.4% stake in Geopacific Resources
CLAREMONT: St Barbara Ltd. (ASX: SBM), a Papua New Guinea-based gold producer, has agreed to acquire a 14.4% stake in Geopacific Resources Ltd. (ASX: GPR) through a share exchange with Patronus Resources Ltd. (ASX: PTN), the companies announced Friday. Under the deal, St Barbara will transfer its 158.1 million shares in Patronus in exchange for…
Tait International bids to takeover Vital Limited for $0.45 per share
AUCKLAND: Tait International Limited has issued a formal notice under the Takeovers Code, announcing its intention to acquire all equity securities of Vital Limited, including ordinary shares and employee-issued options. The offer price is set at $0.45 per share in cash, representing a 64% premium to the $0.275 per share price before Vital’s trading halt…
B.P. Marsh has sold Sterling Insurance to ATC Insurance Solutions
LONDON: B.P. Marsh & Partners PLC, a specialist investor in early-stage financial services businesses, said Wednesday that Sterling Insurance Pty Ltd, a general liability underwriting agency focused on Australia’s construction industry, has been acquired by ATC Insurance Solutions Pty Limited. B.P. Marsh holds a 20% stake in Sterling and a 25% share in ATC, which…
Jubilee Metals receives $90 million offer for South African chrome, PGM operations
JOHANNESBURG: Jubilee Metals Group, a diversified metals producer with operations in South Africa and Zambia, announced Thursday it has received a conditional binding offer of up to $90 million from a private mining and metals trading company to acquire its chrome and platinum group metals (PGM) operations in South Africa. The proposed deal, subject to…
Mitie Group offers to acquire Marlowe PLC for £366 million
LONDON: Mitie Group PLC announced Wednesday a recommended cash-and-share offer to acquire Marlowe PLC in a deal valuing the company at approximately £366 million ($466 million). The boards of both companies said they had reached an agreement under which Mitie Treasury Management Limited, a wholly owned subsidiary of Mitie, will acquire all issued and future…
Victor Group Holding acquires 15% stake in fintech firm IRich Finance
SYDNEY: Victor Group Holding (ASX: VIG) announced Thursday it has agreed to acquire a 15% stake in IRich Finance Pty Ltd., an Australian-licensed fintech provider, as part of a strategic expansion of its platform-as-a-service (PaaS) offerings. The deal, signed May 16, involves issuing 97,834,000 shares to IRich at AUD 0.06 per share, totaling AUD 5.87…
Almadex Minerals acquires Ruby Hill exploration project in Nevada
VANCOUVER: Almadex Minerals Ltd. has acquired full ownership of the Ruby Hill early-stage exploration project in central Nevada through staking, the company announced Thursday. The Vancouver-based mineral exploration company said the gold-silver project was identified as part of its regional exploration program in the western U.S. Ruby Hill features a large area of argillic alteration…