Construction engineering group Ackermans & Van Haaren (AvH) has partnered with STAR Capital to acquire V.Group. The Belgian group will take 33% of V.Group, a ship management and marine support service provider, from Advent International in exchange for $150m. 

STAR did not disclose its agreement with Advent for the remainder of the transaction.

AvH has a substantial portfolio of companies, across a multitude of sectors, but marine engineering and construction is a key area of its business. 

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“The investment fits well with our criteria to invest in global market leaders with long-term growth potential, operating in markets with clear entry barriers (driven by the importance of scale and global reach) and led by strong management teams,” said Piet Dejonghe, co-CEO of AvH.

V.Group has a presence in 30 countries, with nearly 3,000 employees worldwide, and has a crew network of 44,000 seafarers to provide crews for its clients. It manages 900 vessels, and is currently contracted to provide services to 2,500 ships.

Singapore-based investment firm Temasek Holdings (TEM.UL) will invest up to A$300 million ($198.4…

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U.S. investment fund Carlyle Group is studying around 300 Japanese businesses as part of its…

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Private equity and infrastructure investor, Foresight Group, has announced ambitions to invest…

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U.S. investment fund Carlyle Group is studying around 300 Japanese businesses as part of its pipeline, a sign of the continuing boom in private equity deals in the country.

“We look at a lot of deals every day,” Kazuhiro Yamada, co-head of the Japan buyout advisory team, said in an interview. “Even though competition is increasing, if you look at the number of potential deals, there are actually not enough general partners to do them,” he said, referring to private equity firms and their executives.

Carlyle will probably announce another two or three transactions in Japan this year, Yamada said. The biggest challenge is having enough employees to oversee and manage the deals Carlyle wants to do, he added.

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Private equity firms are flourishing in Japan after struggling for years to shake off a perception that they are vultures. Selling to such alternative asset managers is increasingly seen as a palatable way for companies to exit noncore businesses or go private.

Japan was the biggest private equity market in Asia in 2023 with around ¥5.9 trillion ($38 billion) in transaction value — about double the annual average of the previous five years, according to a report from consultancy Bain & Co. The figure was boosted by more management buyouts, the report noted.

Carlyle looks across three sectors in Japan for investments: general industries; consumer and healthcare; and technology, media and telecommunications. There are about 100 potential projects in the pipeline for each sector, Yamada said.

“These next five to 10 years are going to be really busy,” he said.

Japan has a rich source of deals, including around 1.5 million family-owned companies that face succession issues, as well as carveouts where Carlyle would seek to buy units of large companies. Yamada said there are about 300 conglomerates in Japan that have more than 100 subsidiaries — providing a potential pool of 30,000 businesses to evaluate.

Still, exits are becoming a hurdle globally amid falling valuations and uncertain market conditions. Yamada said that while some initial public offerings may be postponed, other options have also become available in Japan, such as selling to another owner, because local appetite for deals is strong.

Private equity and infrastructure investor, Foresight Group, has announced ambitions to invest £100 million into companies in North West England.

The move represents the firm’s second fund specifically for the region. Foresight Group has previously backed 17 businesses, which have supported the creation of 1,800 new jobs across the North West.

The new £100 million private equity fund looks to invest in fast-growing firms across Greater Manchester, Cheshire, Lancashire, the Liverpool City Region, and North Wales. Previously backed firms range from the likes to Indian restaurant group, Mowgli Street Food, lab products company ONFAB and financial planning firm, Five Wealth.

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Claire Alvarez, partner at Foresight Group, said:

“The North West is a brilliant region to grow a business and we have been privileged to work with some incredible entrepreneurs and outstanding companies across a wide variety of sectors.

“Over the last seven years since we opened our Manchester office, we have built a strong regional team who are passionate about helping growing companies to create jobs and support communities across the region.

“We know conditions in the wider economy have been challenging in recent years, but even in challenging times there are some outstanding growing companies across the region – in both the traditional and knowledge economy.”

Singapore-based investment firm Temasek Holdings (TEM.UL) will invest up to A$300 million ($198.4…

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Construction engineering group Ackermans & Van Haaren (AvH) has partnered with STAR Capital to…

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U.S. investment fund Carlyle Group is studying around 300 Japanese businesses as part of its…

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HIG Growth Partners, the dedicated growth capital investment affiliate of HIG Capital, has sold portfolio company CarltonOne Engagement, a SaaS engagement and e-commerce platform, to Goldman Sachs Asset Management.

Headquartered in Markham, Ontario, CarltonOne creates B2B employee recognition, customer loyalty, rewards and sales/channel incentive programmes.

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Since first investing in the business in 2017, HIG has overseen the scaling of operational infrastructure, product launches and entering new markets through “tuck-in” acquisition and via the expansion and growth of the financial services category.

According to a press statement, during HIG’s investment, the company grew its revenues approximately 4x and increased its EBITDA over 6x.

Baird, Canaccord Genuity and Paul Hastings advised CarltonOne.

Singapore-based investment firm Temasek Holdings (TEM.UL) will invest up to A$300 million ($198.4…

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Construction engineering group Ackermans & Van Haaren (AvH) has partnered with STAR Capital to…

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U.S. investment fund Carlyle Group is studying around 300 Japanese businesses as part of its…

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Private equity firm TDR Capital is set to become the majority stakeholder in UK supermarket chain Asda, through the acquisition of a 22.5% stake in the business from Zuber Issa, co-founder of EG Group, which ups its holding to 67.5%.

Mohsin Issa retains a 22.5% stake in Asda, while US retail giant and Walmart holds 10%.

The move has drawn criticism from the GMB trade union which has expressed concerns over TDR Capital’s past actions, including cutting millions of working hours and increasing fuel prices at Asda.

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The private equity firm, along with Zuber and Mohsin Issa, initially took control of Asda in 2021 in a £6.8m deal, and Managing Partners Gary Lindsay and Tom Mitchell, have responded to the GMB’s criticism by restating their commitment to the company’s long-term success and highlighting “significant progress” made in transforming the supermarket chain.

After agreeing to sell his stake, Zuber Issa has also announced a £228m deal to acquire EG Group’s remaining UK forecourts business. Following completion of that deal, which is expected to be completed in Q3 2024, Zuber will step down as co-CEO of EG Group, with Mohsin Issa continuing as the sole CEO.

Asda is currently searching for a permanent CEO to lead its next phase of growth.

Singapore-based investment firm Temasek Holdings (TEM.UL) will invest up to A$300 million ($198.4…

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Construction engineering group Ackermans & Van Haaren (AvH) has partnered with STAR Capital to…

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U.S. investment fund Carlyle Group is studying around 300 Japanese businesses as part of its…

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THE son of one of Chanel’s billionaire owners is building a team to help run his private equity venture as a huge luxury goods fortune trickles down to the fourth generation.

David Wertheimer, 37, whose father Gerard is one of the brothers behind the purveyor of expensive handbags and tweed suits, started Luxembourg-based 1686 Partners last year to invest in fashion, cosmetics and lifestyle products. The firm, which raised more than US$110 million as of December, has picked up the pace of hiring in recent months.

Andreas Ernst, a former manager at Skopos Impact Fund, has joined as partner, according to his LinkedIn page. Jonathan Farrugia is PE investment director, Julien Erbrech is operations manager and Jeremie Lotti is head of partnership and strategy, according to their profiles on the social media platform.

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A representative of 1686 Partners declined immediate comment. The team will be located in Europe and Asia with more details to be disclosed later this year, the company said on its website.

Wertheimer’s father and his uncle Alain are credited with owning equal shares in closely held Chanel, which they inherited as grandsons of one of the original business partners in the perfume operation of French fashion designer Gabrielle “Coco” Chanel. The brothers, who are in their seventies, have a combined net worth of about US$106 billion, according to the Bloomberg billionaires Index.

The first three investments by 1686 Partners were in a European ski clothing brand, a seller of new and second-hand luxury watches and a company focusing on stock management and demand forecasting for brands and retailers, David Wertheimer said in a statement in December. He did not identify the companies.

Singapore-based investment firm Temasek Holdings (TEM.UL) will invest up to A$300 million ($198.4…

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Construction engineering group Ackermans & Van Haaren (AvH) has partnered with STAR Capital to…

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U.S. investment fund Carlyle Group is studying around 300 Japanese businesses as part of its…

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