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Paine & Partners holds 12% of Costa Group following IPO

Paine & Partners LLC said Thursday that portfolio company Costa Group has completed its IPO on the Australian Securities Exchange. Costa sold about 245 million shares at an IPO price of A$2.25 (US$1.64) raising A$550 million (US$400.8 mln) in proceeds. Paine & Partners holds an approximate 12% equity stake in Costa following the IPO and is its largest stockholder. Victoria, Australia-based Costa produces, markets and exports fresh fruit and vegetables.

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PE-owned Eurodrip appoints new CEO

Eurodrip, which is owned by Paine & Partners, has named Peter Berweger as CEO. The appointment becomes effective August 1. Berweger is succeeding Mihalis Panagis, whose resignation is effective immediately. Eurodrip is a global manufacturer and supplier of drip irrigation solutions.

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Paine & Partners raises $893 mln for fourth fund

Paine & Partners has closed its oversubscribed fourth fund at $893 million. The LPs were not named although according to the firm, they include endowments and family offices and hail from new regions that include the Middle East. The pool will focus on the food and agribusiness sector.

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Verdesian buys PE-backed QC

Verdesian Life Sciences said Tuesday that it has bought QC Corp, which is backed by Paine & Partners. No financial terms were disclosed. Headquartered in Baltimore, QC is a provider of granular and dry micronutrients and ferrous sulfate products.

chris witkowsky ponders his future
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Top 10 posts: private equity

Trending in private equity news this week: Thomson Reuters puts peHUB on the block (gulp!), tips for making partner at your PE firm, and why a lawyer-turned-PE pro quit to practice law again.

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Paine & Partners invests in QC

Private equity firm Paine & Partners has made an undisclosed investment in QC Corp. Also, Don Gordon has been named chairman of QC Corp while his son Jason has become CEO. QC Corp. is a provider of granular and dry micronutrients and ferrous sulfate products.

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Specialty Waste Operating Partners acquires Susquehanna Services

Susquehanna Services of Swoyersville, PA has been acquired by Specialty Waste Operating Partners, a private investment group. SWOP is backed by private equity investment firms including Paine & Partners and Tinicum Incorporated. Sperry, Mitchell & Company, Inc initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Susquehanna.

Verdesian Life Buys Plant Syence

Verdesian Life Sciences, which is backed by Paine & Partners, has acquired all of the assets of Plant Syence Ltd and its affiliates. Financial terms weren’t announced. Plant Syence, of the U.K., supplies plant nutritional solutions to the agriculture and horticulture markets.

Verdesian Buys Northwest Agricultural Products

Verdesian Life Sciences, which is backed by Paine & Partners, has acquired Northwest Agricultural Products. Financial terms weren’t announced. Pasco, Wa.-based Northwest Agricultural provides specialty agricultural products.

Humphreys Joins Icicle Seafoods as President, CEO

Icicle Seafoods has named Amy Humphreys to the position of President and Chief Executive Officer, effective immediately. Humphreys succeeds Dennis Guhlke, who has resigned. Humphreys previously served as President of Delta Western.

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