N&Q: Family office deals; PE/family business deals; a winning family business…

Family office deals

Rosewood Private Investments, an investment group owned by the US-based Hunt family, has acquired a majority stake in ProTec Laboratory, a contract manufacturing services group. Rosewood is wholly owned by the Caroline Hunt Trust Estate, which was established in 1935 by H.L. Hunt. Terms of the deal weren’t disclosed.

JF2 Capital, a family office set up recently by a Texas-based entrepreneur Jon Frankel, has bought a stake in Selery Fulfillment, which specialises in warehousing and fulfilment for e-commerce companies. Terms of the deal weren’t disclosed.

Singularity Investments, a Nigerian-based investment office of the Darwish family, has seeded with $3 million an information services company focused on delivering corporate data in Africa called Asoko Insight.

Myer Family Investments, the family of the Australian-based Myer family, has sold a commercial property to a Singaporean-based family office of Teo Tong Lim, who controls a group called Tong Eng. The unnamed family office paid A$77 million for the property in Melbourne.

Private equity – family business deals

Australian-based Malcolm and Adam Steinberg have sold half of their Timezone family entertainment centres business to Quadrant, an Australian private equity company. Malcolm Steinberg, who founded the Australian Timezone operation 1978, today oversees the operation of 200 centres in Australia and across a number of southeast Asian countries, say reports. Terms of the deal weren’t disclosed.

Cloverleaf Cold Storage, a cold storage warehousing and food logistics company owned by the Feiges and Kaplan families since its founding in Iowa in 1952, has sold a majority stake to Blackstone. Terms of the transaction were not disclosed.

UK business wins prestigious family business award

Pentland Group, a UK privately held, brand management company, has won the 22nd annual IMD business school Global Family Business International Award. “Pentland Group plc is an outstanding organisation that has for decades successfully blended an enduring venturing and entrepreneurial spirit with a strong commitment to sustainability, human rights and environment throughout its value chain,” said IMD President Jean-François Manzoni.