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,…
LONDON: Capital Limited (LSE: CAPD), a leading mining services company, announced the sale of its entire shareholding in Predictive Discovery Limited to Perseus Mining Limited for total cash consideration of A$47.3 million (US$31.2 million) today. The agreement with Perseus includes a profit share arrangement whereby Capital and Perseus have agreed to share (on a 50/50…
LONDON, UK: Samarkand Group plc (AQSE:SMK), the consumer brand owner and cross border eCommerce distribution services group following its recent trading update, today announced the disposal of its long-established probiotics brand Probio7. “We are announcing the disposal of our probiotic brand Probio7, for a total consideration of £1.3m to be satisfied by initial consideration…
LONDON, UK: British Media Group, Wilmington plc (LSE: WIL), the provider of data, information, education and training in the global Governance, Risk and Compliance markets, has sold its French healthcare business, APM, for an enterprise value of €26 million in cash, subject to customary working capital adjustments, to Philia Medical Editions SAS, a subsidiary…
PARIS, FRANCE: LACROIX announced the sale of its Road Signs Business Unit to the industrial investment company AIAC (American Industrial Acquisition Corporation). LACROIX aims to become a global leader in industrial IoT solutions and electronic equipment for mission-critical applications by 2025. Given the market trends, synergies between the Road Signs Business Unit and the…
BOULOGNE-BILLANCOURT: Renault Group and Alpine Racing announced the closing of the investment by Otro Capital of €200 million in Alpine Racing Ltd (based in England), announced on 26 June 2023, in the form of a 24% equity stake, to support Alpine’s growth strategy and sporting ambitions in Formula 1. Alec Scheiner, co-founder and partner…
LONDON: ContourGlobal plc completed the previously announced sale of its Brazilian hydro-electric generation business to Infraestrutura Brazil Holding XVII S.A. and Infraestrutura Brasil Holding XIX S.A. (“Pátria Investments”). The Brazilian Hydro Business comprises nine run-of-river hydro-electric generation assets with 168MW of gross capacity. The Brazilian Hydro Business was divested for BRL 1.74bn including the…
LONDON, UK: Spectris plc (SXS: LSE), the expert in providing insight through precision measurement, announced the sale of Omega Engineering to Arcline Investment Management for $525 million (£403 million), at a valuation of approximately 20.4x Omega’s 2021 adjusted EBITDA. Omega will be joining the Dwyer Group of companies (‘Dwyer’), an Arcline portfolio company. Alongside this,…
LONDON, UK: Just Group has completed the sale of a portfolio of lifetime mortgages (LTM) to Rothesay Life Plc, with a current outstanding loan balance of £537m and an IFRS value as at 31 December 2021 of £772m. The lifetime mortgages (LTM) assets being sold form part of the investments used to back the…
LONDON: Caledonia Investments has sold its shareholding in Buzz Bingo to Intermediate Capital Group (ICG) for a nominal amount, a news release said. The Covid-19 crisis and the severe restrictions imposed by the Government on leisure sector businesses have led to Buzz’s clubs being unable to trade for much of the past 12 months.…
LONDON, UK: ULS Technology plc has sold its wholly owned subsidiaries Conveyancing Alliance (Holdings) Limited and Conveyancing Alliance Limited (CAL) for a cash consideration of £27.3 million to Project Ophelia Bidco Limited, a company which also controls O’Neill Patient Solicitors LLP which is the largest conveyancer on the CAL panel. Over the last six…