Buyouts
GERMANY – Barclays PE acquires Siteco from JP Morgan Partners
Barclays Private Equity has acquired German lighting fixtures group Siteco from JP Morgan Partners. The transaction value has not been disclosed. JPMorgan Partners acquired Siteco in October 2002. Under its stewardship, Siteco underwent a substantial...
FRANCE - Eurazeo wins exclusivity for EUR 2.3bn tertiary buyout of Elis
Eurazeo has won a period of exclusivity for the acquisition of textile rental business Elis from PAI partners, in a deal which values the business at approximately EUR 2.3bn.
UK - JC Flowers expected to swoop on Friends Prov and Resolution merger
Private equity is expected to swoop on the £8bn tie-up between UK insurers Friends Provident and Resolution. JC Flowers, the US private equity group, has been named in association with a break-up bid. It has looked at a potential takeover of Friends...
SPAIN - Carlyle, BC Partners and Eurazeo chase Applus+ deal
Carlyle, BC Partners and French buyout house Eurazeo are reported to have all made bids for vehicle inspection group Applus+.
SPAIN - MCH beats Magnum on competition for Eptisa
Engineering business Eptisa has received a bid of EUR 90m from MCH Private Equity, according to press reports.
UK - 3i acquires financial adviser Bestinvest
3i has acquired independent investment managers and financial adviser Bestinvest. The terms of the acquisition are not disclosed. The deal enables the founder of Bestinvest to realise some value from the company which he established in 1986. Financial...
UK - YFM Group Backs £21m buyout of The RMS Group
YFM Group has completed its biggest single deal with £5.5m of funding to support the £21m buyout of shipping and logistics specialist RMS Group. YFM has invested from several of its managed funds: the Chandos Fund, Partnership Investment Finance, and...
GERMANY – HgCapital acquires SLV Group
HgCapital has acquired German lighting producer SLV Group from its founders. The transaction is executed on the basis of an enterprise value of EUR 320m and still requires the approval of the German Federal Cartel Office.
FRANCE - Shoe maker Luxat subject of secondary buyout
LCL Régions Développement and Avenir Entreprises have backed the secondary buyout of Luxat, a shoe manufacturer in the Basque region.
FRANCE - CIC LBO Partners backs Sinéquanone
CIC LBO Partners has backed the buyout of Sinéquanone, a clothing chain with 220 retail points.
SPAIN/FRANCE - Imperial Tobacco offers 32% more than CVC for Altadis
Imperial Tobacco has offered EUR 50 per share for Franco-Spanish business Altadis in the latest chapter of the tobacco company saga, which has been dragging on for nearly five months.
UK - Apax in the running for Loot?
Daily Mail and General Trust is reported to be selling classified advertising magazine Loot. Apax the co-owner of the Autotrader classified magazine brand with Gaurdian Media Group is understood to be interested in the title. Loot was valued at £190m...
UK - Private equity gears up for Ford's UK assets
One Equity Partners, Ripplewood Holdings and Cerberus Capital Management are amongst the private equity groups gearing up to make bids for Ford's UK assets. Ford is selling off Jaguar and Land Rover to slash its debts. Trade interest in the deal is limited...
UK - Endless acquires Homebuy in £22m buyout
Endless has acquired electrical and household goods supplier Homebuy in a £22m management buyout. Homebuy had a market capitalisation on AIM of £100m before entering administration in September 2006. Endless's investment alongside debt provided by Landsbanki...
FRANCE - Advent International backs LBO of Sophis
Advent has acquired a majority stake in Sophis, a provider of cross-asset, front-to-back portfolio and risk management solutions.
UK - Alchemy acquires holiday park operator from Phoenix for £83m
Alchemy has acquired South West holiday park operator Weststar Holdings Ltd from Phoenix Equity Partners in an £83m transaction. Alchemy completed the deal through its portfolio company ParkDean. ParkDean was delisted by Alchemy in a £230m deal in May...
UK - Path clear for Terra Firma's EMI bid
Terra Firma's bid for EMI will not be facing competition from Warner Music. The rival music group has decided to drop its seven year pursuit of EMI.
FRANCE - Crédit Agricole Private Equity invests EUR 6.6m in Legoupil buyout
Crédit Agricole Private Equity has led the buyout of modular construction specialist Legoupil Industries.
UK - Endless backs buyout of DavyMarkham
Endless has backed the management buyout of heavy engineering business DavyMarkham Ltd. The investment will underpin the company's turnaround and enable DavyMarkham to re-establish itself as a world-leading brand in the heavy engineering market.
SPAIN - Magnum eyes construction business
Newly-established private equity house Magnum Industrial Partners is said to be nearing the final stages of the acquisition of civil construction business Eptisa. News reports suggest that the firm, currently fundraising for its EUR 800m fund, has the...
UK - LDC backs MBO of Kimberly Access
LDC has funded the management buyout of Kimberly Access Ltd, a business which rents powered access equipment. The deal represents an exit for the founder of the company. Royal Bank of Scotland provided debt to support the deal.
UK - NVM acquires Astbury Marsden in £17.5m deal
NVM Private Equity Ltd (NVM) has acquired Astbury Marsden, a specialist provider of recruitment services to the banking sector in the City of London, in a £17.5m deal. NVM invested £5.6m to facilitate the management buyout alongside debt provided by...
UK - Montagu acquires ghd brand from LDC
Montagu Private Equity has backed the £160m management buyout of the Jemella Group, the owner of the ghd hair straightening brand. The deal represents an exit for previous backers LDC who acquired the business in July 2006 for an undisclosed sum. Montagu...
UK - Providence re-enters the fray for Virgin Media
Providence Equity has expressed its interest in Virgin Media ten months on from its last play for the business. Providence was reported to be interested in bidding for the US-listed company in 2006 when it was known as NTL before its merger with Virgin...