Benelux: 2009 at a glance

January
•    Gimv sells its stake in Belgian food company Sfinc to AXA Private Equity and Axxess Partners
•    Gimv and DG Infra+ jointly invest EUR 30m in alternative energy producer Electrawinds NV via a subordinated loan with warrants.
•    Gimv and AGF France co-lead a EUR 18m series-B financing round for Dutch biotechnology company Prosensa. EUR 4.25m was contributed by Gimv.

February
•    CVC acquire De Post Danmark's stake in the Belgian postal service De Post - La Poste for EUR 373m. The deal comes as CVC pulled out of the proposed merger between Danish postal system Post Danmark AB, in which it holds a 22% stake, and Swedish carrier Posten AB.

•    IDeA Alternative Investments and DeA Capital acquire Blue Skye Investment Group from DB Zwirn alongside the management.


March
•    Friesland Bank Investment (FB Investments) back the management buyout of Troost Mechanical Services from Troost Pernis Groep. The company specialises in the maintenance of mechanical installations for chemical industry.

April
•    KKR’s Dutch portfolio company NXP, a semiconductor business, agrees a deal with its creditors that will see debt-holders swap around $600m of loan notes for new secured bonds. The deal result reduces the company's debt by around $465m.
•    Gimv, through its XL fund, invests EUR 75m into food business Vandemoortele Group, taking a minority stake in the business.
•    Waterland Private Equity invests EUR 50m of equity into Belgian renewable energy developer Enfinity.

May
•    Cyrte acquires online book retailer Bol.com from German media group Holtzbrinck Networks Verlag Welt and Bild for around EUR 120m, excluding interest-bearing liabilities. Bol.com is an online bookstore which also sells electronic equipment and has a EUR 224m turnover in 2008.

June
•    Gimv and LRM gain control of auto part manufacturer VCST via a EUR 10m capital increase alongside the management. The deal come with a substantial debt rearrangement. Gimv becomes the majority shareholder of VCST, with LRM as the second largest shareholder.

July/August
•    Gimv acquires a 43% stake in Claymount Group, a Dutch x-ray company, alongside CEO Jeffrey Tierie and the management team. Claymount is a provider of high-voltage cable connection systems and system components for x-ray equipment manufacturers serving both healthcare and industrial applications.
•    Gimv holds a second closing of its XL fund on EUR 560m, a EUR 60m increase on their first closing in December 2008.

September
•    Semiconductor business NXP, backed by KKR, AlpInvest, Apax, Bain, and Silver Lake reduces its debt further by around $225m by offering a bond exchange. The company had already written off its debt by around $465m according to the same terms earlier in April.
•    3i-backed VNU Media reaches an agreement with its lenders to reduce its EUR 199m debt to under EUR 100m. The new reduction in debt comes with an equity injection of EUR 17.2m from 3i and new equity holder H.I.G Capital, which gives both private equity houses an equal stake in the business.
•    US-based Starwood Capital completes the acquisition of struggling Golden Tulip Hospitality, a hotel chain. Starwood paired the company up with its Louvre Hotels in order to forge a strategic alliance and explore potential synergies.
•    Holland Venture Partners closes the EUR 70m Natixis-sponsored NPE Holland Venture Partners Fund I.

October
•    Gilde Buyout Partners reaches a first close on its Fund IV on EUR 217m. The fund has a target of EUR 800m.
•    Waterland Private Equity acquires Fortis Intertrust Group Holding, a trust and corporate solutions company, from government-owned Fortis Bank Netherland (FBN) and Banque Générale du Luxembourg (BGL). The deal valued at around EUR 250m, was under the initial asking price of EUR 350m. Fortis also provide between EUR 120-125m of debt to finance the transaction.

November/December
•    Capricorn Venture Partners launche a new sector-specific fund designed to invest in health technology. The fund has a target of EUR 100-120m with a final close expected by the end of 2010.
•    Montagu Private Equity completes the buyout of ADB Airfield Solutions (ADB), an airfield lighting business, from Siemens. Montagu Private Equity invest via its third fund. The deal is financed with a  EUR 73m debt provided by Bank of Ireland, West LB, Siemens financial Services, Fortis and KBC Bank.

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