In 2018, Infravia Capital acquired Mater Private, a private equity business that was previously owned by CapVest. A High Court action in London, brought forth by Allison McIntyre Shure, the wife of the late co-founder of CapVest, Randl Shure, aims to obtain information related to the 2017 sale of Mater Private for €219 million. The court has informed the parties involved that the case will be heard between October and December. Allison McIntyre Shure, as a trustee of the Shure Marital Trust, is entitled to 25% of the shares in CapVest, benefiting herself and their children. Stuart Mills, a lawyer based in North Carolina and a current director at CapVest, also serves as a trustee of the Shure Marital Trust and is involved in the case.
The purpose of the legal action is to determine whether the sale of Mater Private was conducted fairly and in a business-like manner. There have been no allegations of wrongdoing thus far. The disagreement arose following reports of the €500 million sale of Mater Private to France’s InfraVia Capital Partners in May 2018. Prior to this sale, in December 2017, CapVest Equity Partners II sold its remaining assets, including Mater Private, to a new entity called CapVest Equity Partners II B. As part of this transaction, Mater Private was sold to Fund II-B for €219.3 million, according to the claim.
The Shure Marital Trust has requested information from CapVest regarding the first sale of Mater Private in 2017, prompting the current legal proceedings. The case is scheduled to be determined in a disposal hearing before a Chancery Master between October 2, 2023, and December 21, 2023. The hearing is expected to last one and a half days, with the judge being provided with half a day for pre-reading. The parties involved are required to file and exchange skeleton arguments with the court at least two clear days before the disposal hearing, or one clear day before the judge begins pre-reading, if earlier.
CapVest was co-founded in London in 1999 by Randl ‘Randy’ Shure and Seamus FitzPatrick, originally from Cavan. The two had a long-standing friendship and professional relationship, having previously worked together at Bankers Trust.
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