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NEW YORK, February 8, 2019 – One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has entered into a definitive agreement to acquire the plastics distribution business (“Nexeo Plastics”) of Nexeo Solutions, Inc. (“Nexeo”). The transaction will follow Nexeo’s pending acquisition by Univar Inc. and is expected to close during the first half of 2019. Nexeo Plastics is a global leader in the distribution of plastics products, including polymer products and prime engineering resins. Through its vast distribution network, Nexeo Plastics connects world-class suppliers with customers across a broad cross section of industrial segments in more than 60 countries in North America, Europe and Asia. Nexeo Plastics utilizes its proprietary technology platform to efficiently serve its suppliers and customers and has distinguished itself as an industry leader through its extensive product portfolio, expansive distribution reach and commitment to service. Tony W. Lee, Managing Partner of One
February 5, 2019 Johannesburg/London – Development Partners International (“DPI”), a leading Pan African private equity firm, is pleased to announce the latest investment of its African Development Partners II fund (“ADP II”) into International Facilities Services (“IFS”), a facilities management specialist in Africa. IFS provides a full suite of specialist facility management services to clients on remote sites across the African continent, including catering, maintenance, laundry and housekeeping. Employing over 2000 people, IFS operates across a diverse range of geographies, with key customers in numerous African countries including Mozambique, DRC, Namibia, Zambia, South Africa and Lesotho, and services a broad range of sectors including hospitality, natural resources, shipping and mining. Since its inception in 2000, IFS has become recognised in the market, with a reputation for quality service, reinforced by its strong local networks and a proven operational track record. The US$35million investment will help fund an acquisitive growth strategy
In 2004 the SEC has adopted Rule 204A-1 (the “Rule”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). The Rule requires each adviser’s “Access Person”1
MINNEAPOLIS, MN and SANTA MONICA, CA – January 22, 2019 – Perforce Software (“Perforce”), a global provider of enterprise-grade DevOps-focused software solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced it has reached a definitive agreement to acquire Rogue Wave Software (“Rogue Wave”), a leading independent provider of cross-platform software developer tools and embedded components. The combination of Perforce and Rogue Wave delivers a full suite of solutions that measurably improves developer productivity while fueling DevOps at scale. This is the sixth acquisition by Perforce in the last two years since embarking on an aggressive growth strategy to expand its portfolio across the technology development lifecycle. Terms are not being disclosed. The acquisition is expected to close in early February of this year. Rogue Wave provides market-leading solutions that help enterprises optimize software development and build, connect, and secure applications while reducing risk. The company
NEW YORK, December 19, 2018 – One Rock Capital Partners, LLC (“One Rock”) announced that one of its affiliates, Robertshaw, a global engineering and manufacturing company focused on controls and solutions for residential white goods and commercial appliances, acquired CastFutura S.p.A. (“CastFutura”), a leading provider of combustion, safety and ignition products for cooking and heating applications. Since its founding in 1969, CastFutura has built a strong reputation and track record for offering innovative and reliable products for gas systems including burners, thermocouples, spark plugs, igniters and switch harnesses. CastFutura employs approximately 750 employees and has operations in Bulgaria, Poland, Hungary, Italy and Brazil along with CastFutura’s headquarters and engineering center in Terno D’Isola, Italy which is approximately 30 miles outside of Milan. “CastFutura is a strategic acquisition for Robertshaw that broadens our cooking presence in Europe, South America and the Middle East. The acquisition reinforces Robertshaw’s commitment to serving customers
Temple, GA Dec 13, 2018 – Janus International Group, LLC (“Janus”), the leading global manufacturer and supplier of turn-key building solutions and new technology for the self-storage industry, today announced the acquisition of Nokē, Inc. (“Nokē”) the creator of high tech smart locking solutions. The acquisition will allow both companies to continue to develop and enhance the SecurGuard® Smart Entry System that was released earlier this year. The Smart Entry System has modernized access control in self-storage by allowing tenants mobile access to their unit, gates, man-doors, and elevators. With an electronic lock on every unit door, the system provides peace of mind for both tenants and operators along with unprecedented individual door security. Janus also announced today the acquisition of Active Supply and Design (CDM) Ltd (“ASD”), one of Europe’s top installers and self-storage systems solutions providers. The combination of Janus’ European operations and ASD will continue to develop,
WASHINGTON, January 14, 2019 – The National Association of Investment Companies (NAIC) today commended the Diverse Asset Managers Initiative (DAMI) on publishing its first annual Investment Consultant Survey. The survey provides great insight into the underrepresentation of women and racial or ethnic minorities at some of the largest investment management consulting firms in the United States and how it contributes to extremely low engagement of diverse asset managers by many retirement plans. One of the Investment Consultant Survey’s key findings was that African American and Latino managers are the least represented at these firms (with the exception of American Indians who are not represented in any capacity), with each demographic finishing last in representation at four of the 11 firms surveyed. Women are also severely underrepresented: their ownership status in these ICs is for the most part in the single digits, and never more than in the 20 percent range
WASHINGTON, January 2, 2019 – The National Association of Investment Companies (NAIC) announced today that Carmen Ortiz-McGhee has joined the advocacy organization as Executive Vice President. Over the past six years, the NAIC has executed a growth strategy that has significantly expanded its membership base and increased the flow of capital to diverse-owned firms. During that time, the NAIC has created a number of new programs, developed several new services, and built strategic alliances and partnerships which have expanded its reach and market impact. The Executive Vice President will be instrumental in leading the NAIC’s existing programs, services and providing capacity for future growth. Her responsibilities will include: Association Membership Industry Research & Market Insights Private Equity & Hedge Fund Industry Events Association Marketing & Web Services The Private Equity Women’s Initiative Affinity Services Industry Alliances With over 17 years of experience in advocacy on behalf of diverse asset managers,
Outsized Performance is met with Outsized Demand By Alan Hughes of the National Association of Investment Companies Achieving oversubscribed status is often a positive accomplishment for private equity firms. It generally shows that investors have confidence in the firm’s management team and that its investment strategy will lead to healthy returns for its limited partners. For diverse managers, often representing much smaller, younger firms, raising capital can be more challenging than those representing big-name institutions. Recently, 10 diverse firms, among them Siris Capital Group, Palladium Equity Partners, Vista Equity Partners, Sycamore Partners, and One Rock Capital Partners, separately set out to raise capital for funds managed to reach oversubscribed levels. This event – the first time in history so many diverse funds have done so in a relative short time span – could signal the beginnings of some much-needed changes in the way institutions invest their money while demonstrating the
Initiative to Diversify Federal Fund Manager Pool Gains Momentum By Alan Hughes of the National Association of Investment Companies The federal government began its first supplier diversity program back in the 1950s with the establishment of the Small Business Administration to oversee the federal contracting process and level the playing field for small businesses. The concept was expanded with the 8(a) Business Development Program, which assists diverse-owned businesses. Over the years, the federal government’s efforts toward diversity and inclusion—while not perfect—have improved, and many diverse enterprises have succeeded as a result by demonstrating their ability to compete when roadblocks are removed. However, those same efforts of inclusion have yet to fully reach the world of finance, where the federal government invests little of its $800 billion in pension assets under management with diverse-led investment firms. How bad is it? Approximately 34 percent of the federal workforce currently self-identifies as a