Buyouts
UK - More bad news for Countrywide deal
Sources report that UK hedge fund Boussard & Gavaudan has amassed a 5% stake in Countrywide and intends to oppose 3i's recommended 490p per share offer.
ITALY - Private equity firms court Fastweb
Reports in the Italian press suggest that three international private equity firms may be interested in buying Fastweb, Italy's second-largest fixed-line telephone company.
GERMANY - The Riverside Company acquires AIS Group
The Riverside Company has acquired Advanced Information Systems Group (AIS Group), a technology solutions provider to the automotive, aerospace and steel industries. Nord LB provided financing for the deal.
UK - LDC backs MBO of Cable Management Group
LDC has backed the management buyout of Cable Management Group (CMG). The investment will support new product development, expansion of export markets and future acquisitions. Headquartered in Coleshill, Birmingham, CMG is the UK market leader in the...
UK - West Coast Capital and Bank of Scotland Corporate to raise bid for house builder
West Coast Capital, the private equity vehicle of Scottish entrepenuer Tom Hunter, and Bank of Scotland Corporate may raise their offer for housebuilding company Crest Nicholson this week. The consortium placed a 585p per share offer for the company in...
UK - 3i's bid for Countrywide prompts disagreement
3i's recommended ТЃ940m delisting of Countrywide is the subject of shareholder and board wrangling. Last week, Artisan Partners contacted investors arguing that the 490p per share offer, which includes 0.165 shares in property website Rightmove, did not...
FINLAND - MB Funds buys VC-backed Forchem
MB Funds has signed an agreement to buy Forchem from shareholders including Bio Fund, Profita, OKO Venture Capital, Finnish Industry Investment and the management.
UK - Sovereign Capital begins 2007 with three deals
Sovereign Capital has begun 2007 by announcing the completion of three platform investments, two of which are support services businesses. The first was the ТЃ10m BIMBO of London Property Maintenance Ltd, a Kent-based provider of contract cleaning, security...
UK - Matrix completes two buyouts in matter of weeks
Matrix Private Equity backed two management buyouts before the close of 2006, to bring its 2006 tally to eight new investments with an aggregate enterprise value of ТЃ65m. The first was the ТЃ14m management buyout of Pinewood, the leading UK manufacturer...
SWEDEN - Segulah buys 50% of Kemetyl
Segulah has acquired 50% of Kemetyl, a supplier of car care products to gasoline stations. Segulah III and Pemco, the owner, have a shareholder’s agreement ensuring Segulah III de facto control.
UK - Lyceum's Velo to merge with Leasedrive Group
Lyceum Capital portfolio company VELO has merged with the Leasedrive Group. The merged entity, Leasedrive VELO, is now the largest independent privately-owned vehicle management group in the UK with a combined vehicle fleet of around 17,500 cars. Lyceum...
ITALY - 21 Investimenti and Banca Leonardo buy stake in IVRI
21 Investmenti and Banca Leonardo have jointly acquired a majority stake in IVRI, a security and surveillance business, for an undisclosed sum. The Zané family, founders of the group, will maintain a minority stake.
PORTUGAL - Portugal Telecom deal about to close
After a year of negotiations, the five investment banks fronting Sonaecom's hostile takeover bid of Portugal Telecom are reported to be close to agreeing advisory fees as the deal reaches its final stages.
UK - NVM funds £16m buyout of defence service provider
NVM has provided just under ТЃ7m to fund the ТЃ16m management buyout of Product Support Ltd (PSL), a supplier of logistics services to the defence industry.
UK - Inflexion backs £12m MBO of Tekton Group
Inflexion Private Equity has led the ТЃ12m management buyout of Tekton Group, the fastest growing Enterprise Resource Planning software provider to the UK construction and house building industries. The buyout also includes the simultaneous complementary...
ITALY - Bridgepoint acquires motor homes manufacturer
Bridgepoint has agreed to purchase SEA, a manufacturer of branded motor caravans.
UK - Close Brothers Private Equity exits Moody via sale to Investcorp
Investcorp has acquired Moody International in a $311m secondary management buyout deal from Close Brothers Private Equity. CBPE paid $55m in April 2004 for the Sussex-based inspection services provider to the oil and gas industries which counts BP, Royal...
SPAIN - Corpfin Capital acquires Restauravia Food
Corpfin Capital has acquired the restaurant chain Restauravia Food alongside its management team in a BIMBO valued at EUR 95m.
SPAIN - Private equity funds acquire Global 3 Energía
Private equity firms Corpfin Capital, Ahorro Corporación and Impala Capital have acquired 74% of Global 3 Energía from US firm ArcLight Energy Partners.
ITALY - L Capital acquires 40% of Calligaris
Market sources suggest that L Capital has purchased a 40% stake in home decoration business Calligaris. The value of the transaction has not been disclosed.
FINLAND - CapMan to acquire Komas Oy
CapMan has agreed to acquire Komas Oy from private equity investor Midinvest Management and other owners of the company. No details regarding the transaction price will be disclosed.
UK - Duke Street Capital sells Lil-lets to Electra Partners
Duke Street Capital has sold Lil-lets feminine hygiene division of Accantia, the health and beauty manufacturer to Electra Partners for a total consideration of ТЃ80m. Duke Street Capital originally backed the ТЃ225m management buyout of Accantia in November...
ITALY - Abacus Invest closes its first deal
Milanese Abacus Invest has completed its first deal yesterday by purchasing a 56% stake in Controls. The consideration was not made public.
GERMANY – Armacell goes to Investcorp
Investcorp has acquired Armacell International GmbH in a secondary buyout from Gilde Buy-Out Fund and funds managed and advised by CVC Capital Partners. No further terms of the transaction have been disclosed.