Katharine Hidalgo
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BVCA summit: fund financing boom necessitates tailoring
Market participants discuss IRR-enhancing tactics, emergency liquidity and negotiations with LPs
Elaghmore I closes £30m extension
Investors in the extension are all US-based institutions, according to a statement
Sovereign V eyes £450-500m fundraise in 2021
Sovereign recently announced changes to its leadership team, with Dalli taking over as managing partner
Insights from the BVCA summit: PE open for business
On general themes, such as fundraising, market participants were positive about the future of the market
Permira-backed Allegro lists with market cap of €9.8bn
Allegro intends to use the proceeds, alongside a new credit facility, to repay its existing debt
Investindustrial-backed Benvic completes €117.5m refinancing
Benvic has completed seven add-on acquisitions during Investindustrial's holding period
GP Profile: Silverfleet eyes fundraising progress, new acquisitions
Firm is currently raising for Silverfleet Capital Partners III, which was registered in July 2019
BC European Capital XI holds first close on €4bn
LPs already invested in the fund include the New York State Teachers Retirement System
Latour acquires Santiane from BlackFin for €200m EV
Santiane was marketed based on €15m EBITDA, with vendors expecting an EBITDA multiple of more than 10x
Ardian acquires Syclef majority stake from Latour
Since 2015, Syclef has accelerated its buy-and-build strategy with the acquisition of 15 companies
Inspirit backs Lloyds Register Group's energy division
Inspirit writes equity cheques of ТЃ2-10m for UK SMEs with revenues greater than ТЃ20m
Dawn leads $20m series-B for Access Fintech
Existing investors JP Morgan, Citi and Goldman Sachs contribute to the latest round
Apax sells SK FireSafety to API
SK FireSafety's management team will stay on with the company following the transaction
YFM promotes Clarke
YFM is currently deploying YFM Equity Partners Buyout Fund II, which closed on ТЃ80m in March 2020
TDR, private investors to acquire Asda for £6.8bn
Asda was previously in talks with Sainsbury's, which would have paid ТЃ7.3bn for the asset
Kennet-, Eight Roads-backed Rimilia sold to trade for up to $150m
Nasdaq-listed BlackLine is an enterprise software company with a market capitalisation of $5.182bn
Further Global acquires majority stake in AA Ireland for €240m
AA Ireland posted тЌ13.7m in net profits in the year to January 2020 on sales of тЌ62.4m
Global Founders, Rocket et al. in £21m round for Knoma
Knoma says it will initially focus on the UK market, and plans to expand globally in the coming years
Limerston-backed Arch Sciences acquires Apex Scientific
Formerly called Crawford Scientific, Limerston acquired the company in October 2017 from Maven
BC-backed VetPartners acquires Hyperthyroid Cat Centre
BC acquired VetPartners from Ares Management, Credit Group and August Equity for around ТЃ700m
Nordic Capital, Carlyle bid for Octopus-backed Calastone
Trade bidders are also competing in the process, while Motive Partners was bidding, but is no longer involved
General Catalyst et al. in £240m round for $2bn+ Cazoo
Online used car marketplace Cazoo has generated ТЃ100m in revenues to date in 2020
Hg closes Saturn 2, Mercury 3 and Genesis 9 on hard-caps
Proskauer provided legal advice and Rede Partners acted as placement agent for the three funds
Elysian III closes on £325m hard-cap
In conjunction with the fund close, the firm has announced the promotion of Jack Jacovou to partner