Corbett Keeling advises IMS Consulting Group

Written by Administrator | 10 February 2011
Posted in Globalscope - News

30/11/2010: Corbett Keeling advised the former controlling shareholders of IMS Consulting Group (IMS) on its sale. IMS is the market leading provider of consulting and integrated business support to the wholesale asset management and securities industry.

The Corbett Keeling team acted as corporate finance adviser for the transaction, which saw private equity investor Sovereign Capital take a majority stake in the business and Lloyds Banking Group provide debt facilities.

Founded in 1997, IMS' core offering is compliance consultancy to UK regulated financial service firms. It also provides related services such as due diligence, compliance training and recruitment services, as well as accounting, taxation and administration services through IMS Buzzacott, and US regulatory consulting through IMS Consulting (US) LLC, based in New York.

Cobalt advises on Smart Cleantech fundraising

Written by Administrator | 28 January 2011
Posted in Globalscope - News

01/11/10: Cobalt Corporate Finance has advised smart energy supplier First Utility on a major fundraising from Morgan Stanley Capital Group Inc.

First Utility is the only gas and electricity supplier currently rolling out smart meters UK-wide to residential customers. The funding will allow the business to accelerate its customer acquisition program and rollout of smart meters, in line with the UK Government's aim to convert all UK households to smart meters by 2020. Using smart meters has the benefit not only of reducing energy consumption due to better monitoring - for example through First Utility's joint offering with Google PowerMeter - but also of enabling alternative energy tariffs, and better consumption forecasting. With strong ‘green’ credentials, a tailored software platform and experienced operations management, First Utility is set to grow rapidly.

Cobalt worked with First Utility to identify and evaluate venture and other alternative sources of financing and advised on the structuring of the transaction.

Fox Mobile Group Acquired by Jesta Group

Written by Administrator | 28 January 2011
Posted in Globalscope - News

22/12/10: Jesta Group today announced the acquisition of Fox Mobile Group (FMG) from News Corporation.

A leading global entertainment provider, FMG includes such well-known consumer brands as Jamba, Jamster, Mobizzo and iLove, as well as Bitbop, a mobile video service and entertainment platform launched in the US early 2010.

FMG, which will be renamed and become a part of Jesta Mobile Holdings, is co-headquartered in Berlin, Germany, and Beverly Hills, California, and operates in North America, Europe, South America and Australia.

Demag Cranes acquires stake in Weihua Group

Written by Administrator | 27 January 2011
Posted in Globalscope - News

21/01/11: Demag Cranes, one of the world’s leading suppliers of industrial cranes and port technology, and the Weihua Group, one of the major crane manufacturers in China, aim to intensify their cooperation and to conclude a strategic alliance in the crane business. Aloysius Rauen, Chairman of the Board of Demag Cranes AG, and Han Xianbao, Chairman and President of the Weihua Group, have signed a letter of intent to this effect in Beijing. As part of the agreement, Demag Cranes will initially acquire a minority interest in the Weihua Group’s crane business. In light of the winwin situation, the Weihua Group has agreed to grant Demag Cranes the option of participating in the industrial management of the Group by taking a majority stake in the medium term. Both companies have agreed on exclusivity regarding further negotiations. Once forces have been combined, Demag Cranes and Weihua will be one of the leading companies in its industry in China.