NEW YORK: Coleville Partners has acquired The Powderhorn Agency from Accretive Insurance Solutions and appointed Nick Alexander as President. Powderhorn, based in Brookfield, Connecticut, specializes in residential warranty and protection programs for oil tanks and septic systems, with over 25 years of experience. Nick Alexander, a seasoned executive in the home warranty industry, brings extensive…
Manfred Knof is leaving Commerzbank AG on September 30
LONDON: The acting CEO of Commerzbank AG, Manfred Knof, will leave the Bank on 30 September 2024. The 59‑year‑old and the Supervisory Board have agreed on this. On Tuesday, it had rearranged the responsibilities at the Group’s top management and appointed Bettina Orlopp (54) as the future CEO and thus as successor to Knof. At…
The Codan Group acquires US-based Kägwerks for an initial $33.6 million
SYDNEY: The Codan Group (ASX:CDA), through a wholly owned subsidiary Codan US Inc., has entered into a binding agreement to acquire 100% of US-based organisation SKT2 LLC dba Kägwerks. Completion is expected to occur in early December 2024. Kägwerks is a global leader in tactical operator-worn neworking communications technologies that enable connectivity and integrated secure…
LondonMetric buys urban logistics properties for £78mn from a FSTE 100 pension fund
LONDON: LondonMetric Property Plc announced the off market acquisition of six single let urban logistics properties for £78.0 million from a FSTE 100 pension fund. The purchase price reflects a blended NIY of 5.8% which rises to 6.9% over the next two years. The portfolio comprises six high quality properties totalling 526,000 sq ft, located…
OGDCL announces gas discovery in Sindh
LONDON: The Sawan South Joint Venture has announced a gas discovery in the Lower Gour B Reservoir Sand of the Akhiro-1 well, located in Khairpur district, Sindh Province in Pakistan. The joint venture includes Oil and Gas Development Company Limited (OGDCL) with a 20% working interest, United Energy Pakistan Limited (UEPL) as the operator with…
Nmbr, Canada’s payroll software provider, announces CAD $7.6 million in seed funding
TORONTO: Nmbr, Canada’s first dedicated embedded payroll software provider, announced CAD $7.6 million in seed funding to elevate the payroll ecosystem for businesses nationwide. Nmbr offers companies the ability to embed Canadian payroll within their product in days or weeks, as opposed to the years of development for payroll products of the past. In doing…
Wind-powered maritime transport company, VELA, raises €40 million
NEW YORK: VELA, a pioneering French company innovating in 100% wind-powered maritime transport, is proud to announce a significant funding round of €40 million ($43 million USD)—a round led by Crédit Mutuel Impact, 11th Hour Racing & BPI – French Public Investment Bank. “This major fundraising marks a key step in VELA’s development. We are…
TotalEnergies will supply 200,000 tons per year of LNG to HD Hyundai Chemical until 2033
PARIS: In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the signing of a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of LNG per year for 7 years starting from 2027. Thanks to this agreement, with prices indexed…
Ondine Biomedical secures C$5 million financing
Ondine Biomedical Inc. (LON: OBI), a Canadian life sciences company pioneering light-activated antimicrobial treatments, announced that it has agreed to a private placement financing in exchange for common shares from a new third-party private investor in Canada to support commercial growth. The Company has agreed to issue 22,222,222 new common shares of no par value…
Smiths Group acquires Modular Metal Fabricators and Wattco Inc. for £110 million
LONDON: Smiths Group plc, a leading industrial technology company, announced today that it is acquiring two North American companies, Modular Metal Fabricators, Inc., and Wattco, Inc. for a combined purchase price of up to £110m. These two companies will be integrated respectively into the Heating, Ventilation & Air Conditioning (HVAC) and electrical heating solutions platforms…
Jim Mintern appointed new CEO of CRH Plc
DUBLIN: CRH plc (NYSE: CRH), the leading provider of building materials solutions, announced that Albert Manifold has decided to retire as Chief Executive Officer at the end of 2024 and that he is to be succeeded by Jim Mintern. Mr. Mintern is currently CRH’s Chief Financial Officer and has been a director of its board…
Legal & General Group appoints Eric Adler as Chief Executive Officer of Asset Management
LONDON: Legal & General Group announced the appointment of Eric Adler as Chief Executive Officer of Asset Management, subject to regulatory approval. The appointment follows the Group’s announcement that it would bring together its public and private markets businesses as a unified global asset manager, at its Capital Markets Event in June. The Group, which…