Last word

  • Altor Equity Partners, the Nordic buyout firm founded by Harald Mix, has acquired 60% of Nimbus Boats from its founders, which will keep the remainder. Although financial terms were not disclosed, Nimbus Boats has annual sales of about SKr800m (US$102m). For the last six years the company has had an annual sales growth of 15%. The current chairman, Lennart Svantesson, who has worked with Altor previously, will become chief executive from April. Håkan Larsson, chief executive of Rederi AB Transatlantic, is expected to replace Svantesson as chairman. Both founders of the company, Hans and Lars Wiklund, will continue to be operationally active in the company and remain as members of the board of directors.
  • US-based buyout firm Bain Capital has boosted its Chinese presence with the appointment of a third managing director. Jonathan Zhu, ex-CEO of Morgan Stanley in China, joins Bain as MD in its Hong Kong office. Zhu is being appointed as a founding member of Bain’s Asia investment team, he joins Jim Hildebrandt and Jing Huang, who joined the firm as managing directors in 2005. Hildebrandt joined from management consultant Bain & Company and Huang from SOFTBANK Asia Infrastructure fund (SAIF). Bain currently has more than US$27bn in assets under management.
  • Barclays Private Equity, the UK buyout firm, has invested in Metal & Waste Recycling, the UK’s fourth largest metal recycling business. Metal & Waste Recycling, which employs more than 300 staff and generates a turnover in excess of £100m, is a privately owned company based in London. Gary Mann, managing director of the group, said: “Our recent acquisition of Forman Recycling Ltd in 2005 complements the company’s existing operations by providing a full waste management service. The investment we have received from Barclays Private Equity will enable us to continue our capital investment and acquisition programme and expand the services that we offer our customers.”