Buyouts
Private equity eyes CarTrawler
CarTrawler has received interest from a number of private equity buyers in its тЌ100m sale.
equitrust invests in WEGU
German private equity firm equitrust has acquired 100% of WEGU group from the Bonrath family for an undisclosed amount.
Ratos acquires Finnkino for €94.3m
Ratos has acquired Finnish cinema chain Finnkino Oy from Sanoma for an enterprise value of тЌ94.3m.
ECI acquires Fourth Hospitality
UK mid-market private equity firm ECI Partners has acquired software as a service provider Fourth Hospitality as part of a management buyout transaction.
Hannover Finanz backs MBO of Media Concept
Private equity house Hannover Finanz has led the buyout of online retailer Media Concept together with BayernLB Private Equity.
ProA buys Ambuibérica in all-equity deal
Spanish private equity firm ProA Capital has acquired an 85% stake in ambulance company Grupo Ambuibérica as part of an all-equity deal.
BaltCap acquires stake in Runway
BaltCap has acquired a 40.82% stake in business process outsourcing service provider SIA Runway.
BDC backs C2S MBO
Bridgepoint Development Capital has acquired a 51% stake in French clinics operator Compagnie Stéphanoise de Santé (C2S) for an undisclosed amount.
IPW completes Altitude Software LBO
Spanish venture capital firm Investing Profit Wisely (IPW) has taken a 45% stake in Portuguese technology company Altitude Software as part of a management buyout.
CBPE backs HSBC Insurance buyout
Mid-market investor CBPE Capital has funded the acquisition of HSBC Insurance Management (HIM) for $27.5m.
Quantifying alpha
Alpha does indeed exist, and is strongest in private equity deals with active ownership; particularly when frequent interaction with - and even changing of - management is involved.
Friesland Bank Investments acquires Brakel
The investment arm of Friesland Bank, Friesland Bank Investments, has acquired Brakel Interieurgroep together with the management from building material supplier CRH.
Altor acquires E.ON ES
Altor has acquired a 90.5% stake in E.ON ES, an engineering and contracting company for the energy industry, from E.ON Sverige AB.
Herkules acquires Norsk Jernbanedrift
Herkules has acquired a majority stake in Norsk Jernbarnedrift (NJD), a company that specialises in maintenance, construction and projects for railway infrastructure in Norway.
First Reserve signs off AED buyout
First Reserve Corporation has acquired a 45% stake in Ansaldo Energia, a major Italian producer of thermoelectric power plants, as part of a management buyout transaction.
Rutland acquires Gems International
Rutland Partners has acquired a majority stake in Belgium-based GEMS International NV, which provides subsea technical analysis and surveying.
Bridgepoint acquires Médipôle Sud Santé
Bridgepoint Capital has acquired French clinics operator Médipôle Sud Santé for an undisclosed amount.
Multiple worries
According to the man on the street, multiples nowadays stand at around 7x EBITDA for assets, up to 9x if it’s a ‘quality asset’ (meaning it stands at 9x, since I know of no GP willing to admit he buys low-quality assets). This is down markedly from the...
Apax and Bridgepoint team up again on CEP buyout
Apax Partners and Bridgepoint Capital are teaming up to buy French mortgage insurance services company Compagnie Européenne de Prévoyance (CEP) from PAI Partners, according to media reports.
Global Equity Partners acquires Lenzing division
Global Equity Partners and private investors have acquired Lenzing's plastic-filament business.
Capital Stage acquires Conergy
Capital Stage AG has acquired 100% of Germany-based Conergy's Swiss subsidiary for an undisclosed amount.
Palero Capital acquires Kopp
Private equity firm Palero Capital has acquired Heinrich Kopp GmbH from US industrial company Actuant Corporation for an undisclosed amount thought to be around €4m.
Herkules acquires Process Vision
Herkules has acquired Finnish energy software provider Process Vision Oy.
Accent Equity acquires Autotube
Accent Equity has wholly acquired Autotube AB from Specma Hydraulic AB, a unit of Investment AB Latour.