Buyouts
SWEDEN - EQT rumoured to buy Scandic Hotels
EQT is believed to announce in the near future that it will acquire Scandic Hotels from Hilton, according to Swedish press reports.
UK - 3i-backed NCP to be subject of £800m tertiary buyout
3i is reported to be in discussions with Macquarie over a possible sale of NCP, the UK car park operator. The deal could fetch up to ТЃ800m generating impressive returns for 3i, which acquired NCP from Cinven for ТЃ555m in mid-2005. Macquarie had bid...
UK - Apollo launches £1bn formal bid for Countrywide
Apollo Management has launched a ТЃ1bn takeover of the UK's largest estate agency chain Countrywide. The offer excedes the ТЃ971m bid by 3i earlier this year which was rejected by shareholders after being recommended by the company's board.
SPAIN - Another transport player for Doughty Hanson's fleet
After closing its first deal in Spain by acquiring transport group Avanza, Doughty Hanson is said to be considering a bid for another transport company.
ITALY - Bridgepoint to bid for World Superbikes' organiser
Press reports suggest that Italian FG Group, the company holding the rights to motorcycle championship World Superbikes, is up for sale for around EUR 70m.
UK - 3i expected to sign Enterprise buyout in a month
3i has made a 605p per share offer for maintenance group Enterprise. The deal values the company at ТЃ486m and sources close to the buyout expect it to be approved and signed within a month. The current offer represents a premium of 29.5% per share before...
UK - Possible Sainsbury's deal gets even more complicated
Any formal bid for the supermarket retailer Sainsbury's looks set to face complications as news emerges that Polygon has built a 1.5% stake in the company. In the past the hedge fund has taken activist positions and helped scupper the ТЃ346m take-private...
UK - Barclays Ventures backs MBO of paper products manufacturer
Barclays Ventures has backed the management buyout of F Bender Ltd, a manufacturer of paper catering products, investing ТЃ5.25m for a significant stake. The move secures the future of the company following recent financial difficulties, and comes five...
UK - 3i to bid for Enterprise
3i is in talks with Enterprise Plc, a company which provides support services and maintenance to utilities companies, local government and large corporations. It is understood that the offer will be up to 20p higher than a 575p per share bid from an unknown...
ITALY - Alto Partners' new fund closes its first deal
Alto Capital II, a fund closed recently on EUR 165m, has completed its first deal.
UK - Close Growth Capital supports £32m MBO of A-Gas from 3i
Close Growth Capital (CGC) has supported the ТЃ32m secondary management buyout of A-Gas International from 3i. CGC provided hybrid equity and debt financing for the deal. Senior debt and working capital facilities were provided by Barclays Bank. Bristol-based...
UK - Reed Elsevier expects private equity interest in its education business
Reed Elsevier has hired UBS to advise it on the disposal of its education division.
UK - Apollo closer to making Countrywide offer
Apollo is one step closer to making a formal bid for UK estate agency Countrywide after arranging the financing for a possible deal. It is expected to offer approximately 597p per share trumping 3i's rejected bid of 570p earlier this year.
UK - Lion Capital set to dispose of Burton's Foods
Lion Capital is considering disposing of Burton's Foods, the maker of Wagon Wheels and Maryland Cookies which it acquired in 2000 for ТЃ130m in its former guise Hicks Muse Tate & Furst. This would be the second divestment in as many weeks for the investor,...
SPAIN - Mercapital, Ibersuizas and Vista compete for Indas
Reports in the Spanish press suggest that Mercapital and Ibersuizas have joined Vista in the competition for pharmaceutical business Laboratorios Indas. The deal is valued at around EUR 360m.
UK - BUPA next private equity target?
Market sources report that Temasek, the Singapore government investment group, is weighting up a bid for private healthcare provider BUPA. It is understood that at least one other private equity group may also be involved in a Temasek-led bid.
UK - West Coast Capital offer for Blooms accepted
West Coast Capital will shortly add Blooms of Bressingham to its garden centre assets after the nursery chain's board accepted its offer. West Coast Capital led a consortium comprised of Baugur, HBOS and property entrepeneur Nick Leslau to bid ТЃ30.2m...
UK - Cognetas ends talks with fashion retailer Alexon
Market sources report that talks between the independent directors of fashion retailer Alexon and a management buyout team have ended. The team, believed to be backed by Cognetas, failed to reach an agreement on price.
FRANCE - Barclays Private Equity takes minority stake in scaffolding business
According to market sources, Barclays Private Equity has taken a minority stake in Entrepose-Echafaudages, in a secondary 'owner buyout'.
FRANCE - AXA Private Equity backs Brittany-based house builder
AXA Private Equity has acquired a minority stake in Trecobat, a house-builder focused on Brittany.
UK - Charterhouse acquires Drive Assist from TA Associates in EUR 380m deal
TA Associates has made returns of 3.3x its money through a sale of credit hire company Drive Assist UK Ltd to Charterhouse Capital Partners. The enterprise value of EUR 380m will reap an IRR of 44% for the investor which decided to exit following pro-active...
UK - Shackleton acquires four companies from 3i
Shackleton Ventures, the newly formed secondaries venture capital firm has agreed to purchase four investments from 3i. Shackleton was formed in July 2006 and can drawn on up to ТЃ20m of funds from its European fund-of-funds investor.
UK - Star Capital Partners in £141m flight simulator deal
Star Capital Partners has acquired two flight simulator operators for a total consideration of ТЃ141m. The investment is being made from its second infrastructure fund leading commentators to suggest that high demand for infrastructure assets is resulting...
FRANCE - European Capital discloses its investment in Delsey
European Capital has announced that it provided a EUR 120m unirate loan to finance the buyout of luggage brand Delsey by Argan Capital.