Gérard Jeulin, who held a controlling interest and was chairman of Altares, is retaining a 30% stake and will be chairman of the newly created supervisory board. The existing management team will take an equity stake.
Altares offers French companies information on the changes to companies’ legal information; new customer prospecting for sales growth; credit rating and solvency financial information and non-financial ratings. Formed from the 2004 merger of the BIL Legal Information Database and Dun & Bradstreet France, Altares posted 2007 revenues of €54m with 300 employees.
East Capital’s third Russian banking deal
The firm already owns 20% of Asian Pacific Bank and 19.95% of Kolyma Bank, both located in the east of Russia. Kamchatprombank is based in the Kamchatka region of Russia and headquartered in Petropavlovsk-Kamchatsky. The bank has assets of around €43.6m at the end of 2007 and has a strong presence in the region’s retail and corporate banking sector. It is part of a banking group run by Petropavlovsk Finance Management Company.
East Capital’s plan is to support the group’s regional expansion and consolidation plans, bring experience and make Kamchatprombank more attractive to investors.
East Capital is an independent asset manager specialising in Eastern European financial markets. It manages €4.5bn and is headquartered in Stockholm, with offices in Paris, Tallinn, Moscow, Oslo, Hong Kong, Milan and Vienna.
Oxford Aviation Academy swoops in for Parc Aviation
OAA is the largest independent aviation training organisation in Europe and is a majority owned unit of Star Capital Partners through managed funds. The venture capital firm is keen to support further expansion through acquisition projects identified by OAA, according to partner Paul Gough.
OAA claims that the acquisition will create an integrated company that has the capacity to train and supply newly qualified and experienced aircrew. It intends to retain the Parc Aviation brand name and keep Tim Shattock as chief executive.