ReleaseWire Connect

C.W. Downer & Co., an independent global investment bank, is pleased to formally announce the opening of its newest office in Mumbai, India. Shirish Nimgaonkar, Managing Director, will manage the Mumbai office.

C.W. Downer & Co., an independent global investment bank, has hired Charles DelGrande as Managing Director in charge of the firm’s newly-created Technology, Media and Interactive Services Group. Tristan Snyder, who has worked with Mr. DelGrande for more than four years, will also join the team as Associate.

C.W. Downer & Co., a leading middle-market cross-border investment bank, is pleased to announce that Galaxy Desserts, makers of individual, French-inspired gourmet desserts and baked goods, has been sold to Brioche Pasquier Group of France. The transaction closed on January 25, 2012, and the financial terms were not disclosed.

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Arena Group has completed a successful fundraising totaling £16.5m. The private equity firm MML Capital Partners made a substantial minority investment, alongside the specialist sports fund, Sports Investment Partners (SIP).

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Korindo Group of Indonesia has completed the sale of Eupec PipeCoatings France S.A., including its German subsidiary, Eupec PipelineServices GmbH, to Mutares AG. Mutares AG is a German industrial holding company focused on acquiring midsized companies in special situations. The transaction closed on January 26, 2012 for an undisclosed amount.

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that the City of Nashua has completed the acquisition of Pennichuck Corporation (Nasdaq: PNNW). Through this transaction, Nashua has acquired the three regulated water utilities owned by Pennichuck, the company’s water services and real estate operations, and all the watershed land owned by the company. Pennichuck shareholders will receive $29 per share for a total of $137.8 million. Including assumed corporate debt, the transaction value was approximately $200 million.

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Nova Capital Management has sold DiaCom Holdings, Inc., to Boston-based private equity firm, Fulham & Co. C.W. Downer & Co. acted as exclusive financial advisor to Nova Capital on the divestiture. The transaction closed on October 7, 2011 and the deal value was not disclosed.

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Insituform Technologies, Inc. has completed its acquisition of the business and assets of UK-based Hockway Limited and the capital stock of Hockway Middle East FZC, based in the United Arab Emirates (collectively known as “Hockway”). The transaction closed on August 2, 2011 for a purchase price of $4.6 million with up to an additional $1.5 million payable upon achievement of certain performance targets during the three-year period ending December 31, 2013.

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Canadian private equity firm TerraNova Partners LP has sold KK Precision, Inc. to River Associates Investments. C.W. Downer & Co. acted as sole financial advisor to TerraNova Partners and its subsidiary, Precinda Corp., on the divestiture. The deal closed on September 1, 2011 and the transaction value was undisclosed.

C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Insituform Technologies, Inc. has completed its acquisition of the North American business of Fyfe Group, LLC. The transaction closed on August 31, 2011 for a transaction value of $115.8 million. The acquisition was financed by a $250 million term loan under Insituform's new $500 million credit facility.