Buyouts
BELGIUM - Lion completes EUR 263m Adventure deal
Lion Capital has completed the acquisition of AS Adventure Group, a Belgium-based speciality retailer of outdoor equipment and clothing, in a deal which values the company at EUR 263m.
UK - Hotbed members invest £3.3m to back buyout of DIY supplier
Hotbed, a UK private investor syndicate, has invested ТЃ3.3m to back the management buyout of Avocet Hardware. Avocet is a supplier of screws, nails, fixings and general ironmongery products to the UKтs biggest DIY retailers, including B&Q, Focus and...
GERMANY - MX Mercury Beteiligung acquires Consolidated Fire Protection Holdings Inc
Industri Kapital portfolio company MX Mercury Beteiligung GmbH has acquired Consolidated Fire Protection Holdings Inc for an undisclosed sum. Law firm Clifford Chance acted as advisors on the deal.
SWEDEN - EQT leads SEK 9.6bn take-private of Securitas Direct
ESML Interessenter AB, jointly owned by EQT V, Säkl AB, Melker Schörling AB (MSAB) and Investment AB Latour, has made a public cash offer of Securitas Direct AB, a Swedish security services company. The shareholders of the company have been offered SEK...
GERMANY – CFC Industriebeteiligungen acquires Vogt electronic Letron GmbH
Dortmund-based CFC Zwischenholding GmbH has acquired 100% of the shares of Vogt electronic Letron GmbH from Vogt electronics EMS GmbH, a subsidiary of Vogt electronic AG for an undisclosed amount. Vogt electronics Letron GmbH develops, manufactures and...
GERMANY – Arques Industries buys seven plants from MöllerGroup
German Arques Industries is set to acquire seven plastics components plants from MöllerTech International in Nuneaton, subsidiary of Bielefeld-based MöllerGroup. The seven plastics components plants subject to the deal are based in France, Spain, and...
FRANCE - Astorg backs Trescal's spin-off from Air Liquide
Astorg Partners has supported the management buyout of calibration and measurement services specialist Trescal from its parent company.
FRANCE - Initiative & Finance backs MBI of ham and cheese specialist
Initiative & Finance has backed the management buy-in of Primo, a company which provides a range of food products to large retailers.
SPAIN - Doughty Hanson buys FCC and Veolia's bus unit
Infrastructure players Fomento de Construcciones y Contratas (FCC) and Veolia have sold its bus unit, Corporacion Espanola de Transportes (CTSA) to Doughty Hanson for approximately EUR 80m.
SPAIN - Nazca buys stake in e-learning business
Nazca Capital has purchased a 45% shareholding in eduactional consulting and e-learning business élogos from its founding family Baratech. The founders will retain the majority stake.
UK - Phoenix to sell handbag maker Radley for £150m
Phoenix Equity Partners has put its up-market hangbag portfolio company Radley on the block. It is understood that the business it acquired in February 2006 for ТЃ45m could fetch up to ТЃ150m at auction. Exponent Private Equity, MidOcean Partners and...
UK - Oak Hill backs £945m SBO of Firth Rixon from Carlyle and Lehman
Oak Hill Capital Partners is backing the secondary management buyout of Firth Rixson Ltd from The Carlyle Group and Lehman Brothers Co-Investment Partners. The deal values the business at ТЃ945m. Firth Rixon is a supplier of highly engineered rings, industrial...
FRANCE - Crédit Agricole invests over EUR 7m in Emalec
Crédit Agricole Private Equity has invested in excess of EUR 7m in the owner buyout of maintenance company Emalec along with the founding owners, taking a minority stake in the company.
UK - Dubai investment arm acquires SmartStream from TA Associates for £200m
DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC) has acquired SmartStream Technologies from TA Associates for approximately ТЃ200m in a tertiary buyout deal.
UK - ECI backs £52m buyout of Kelvin Hughes
ECI Partners has backed the ТЃ52m buyout of navigational technology business Kelvin Hughes from Smiths Group Plc, the listed technology company. The purchase price comprises ТЃ48m which was paid in cash on completion of the purchase and a deferred payment...
FRANCE - PAI, TPG, Carlyle and Providence circle Numericable
PAI partners, Texas Pacific, Carlyle and Providence are reported to have been selected in a second round of negotiations for the acquisition of half of Cinven's 70% stake in cable group Numericable.
UK - Final stages of Jaguar Land Rover auction faces pension trouble
The final stages of the auction to divest Ford's Jaguar and Land Rover divisions are being hindered by a reported ТЃ1bn deficit in the group's pension fund. The shortfall means that Ford is likely to have to sweeten the deal for Tata and One Equity Partners,...
UK - Glitnir Total Capital backs MBO of Arthouse
Glitnir Total Capital has financed the management buyout of Arthouse Ltd, a design house supplying wall coverings, art, tiles and coving to the UK retail market. This is Total Capitalтs third investment in 2007.
FRANCE - MBO Partenaires backs MBO of Santé Port-Royal
MBO Partenaires has completed the buyout of natural health magazines publisher Santé Port-Royal.
UK - Lyceum Capital to acquire AIM-listed Synexus in £18m deal
Lyceum Capital Partners has announced a recommended cash offer of 78p per share to shareholders for Synexus Clinical Research Plc. AIM-listed Synexus is the largest European-headquartered business recruiting patients for late phase clinical trials on...
UK - Close Growth Capital acquires clingfilm company
Close Growth Capital has provided a hybrid debt and equity package to support the ТЃ20m+ management buyout of Wrap Film Systems, a provider of clingfilm dispensers to the catering industry and consumers. The deal represents an exit for the company's founder....
SWITZERLAND – Capvis acquires de Sede Group
Capvis has agreed to acquire furniture manufacturer de Sede for an undisclosed sum. The transaction is part of the succession plan of owners Hans-Peter Fässler and Bernhard Schüler who continue to manage the company and remain shareholders in it.
FRANCE - Bridgepoint reaches squeeze-out for Alain Afflelou
A year and a half after acquiring 61% of shares, Bridgepoint has finally reached the 95% threshold needed to delist opticians chain Alain Afflelou from the French stock exchange.
ITALY - Cape Natixis Due closes first deal
Mid-market fund Cape Natixis Due, managed by Cape Natixis SGR, has closed its first investment by acquiring the optical monomer division of US-based Chemtura.