Buyouts
SPAIN - Doughty Hanson and Apax in competition for Avanza
Reports in the Spanish press suggest that the final dispute for Avanza is between Apax Partners and Doughty Hanson. The firms are said to have submitted the most attractive bids to acquire the majority of the shares in the transport group from its founders....
UK - Formal 3i bid for Countrywide due soon
It is understood that 3i will make a formal bid for listed estate agency company Countrywide in the coming days. The two have been engaged in talks since mid-October.
UK - Electra Quoted Management backs new extreme sports publisher
Electra Quoted Management has provided newco Factory Media with an initial investment of ТЃ3.85m to enable it to acquire three leading specialist extreme sports publishers in the 16-24 youth market; Action Sports Media, Permanent Publishing and 4130 Publishing....
UK - Veritas Capital acquires Pearson's Government Solutions
Government Solutions, a division of Pearson specialising in business process outsourcing, systems integration and consultancy services has been acquired by Veritas Capital for a reported $660m.
GERMANY – WL Ross & Co completes acquisition of BST Safety Textiles
WL Ross & Co has completed the acquisition of international manufacturer of flat and one piece woven fabrics for automotive air bags, BST Safety Textiles GmbH. The transaction was announced in September 2006.
UK - ABN AMRO Capital sees 3x return on Dennis Eagle sale
ABN AMRO Capital has sold Dennis Eagle Group Ltd for an undisclosed sum to Ros Roca SA a Spanish-headquartered European leader in the refuse sector. ABN AMRO Capitalтs investment in Dennis Eagle has generated a money multiple of 3x with an IRR of 50%....
UK - Permira closer to securing EMI deal
Market reports suggest that Permira is close to securing the estimated ТЃ2bn buyout of music giant EMI.
UK - MidOcean Partners acquires Birmingham-based packaging company
MidOcean Partners, the group which recently realised its investment United Biscuits through a ТЃ1.6bn secondary buyout, has acquired Europackaging for a reported ТЃ190m.
FRANCE - Eurazeo grants CVC exclusivity to Fraikin
Eurazeo has granted CVC Capital Partners a period of exclusivity to truck rental company Fraikin following an offer which values the business at EUR 1.35bn.
GERMANY – Quadriga Capital buys back AHT Cooling Systems
Quadriga Capital has acquired a majority stake in AHT Cooling Systems for an undisclosed amount from Equita. Dresdner Kleinwort has been mandated to solely arrange the debt package comprising senior and mezzanine facilities. In 2005 Quadriga Capital sold...
UK - Aberdeen Asset Managers Private Equity backs £19.1m MBO of Purac
Aberdeen Asset Managers Private Equity has backed the ТЃ19.1m management buyout of Purac Ltd, a process engineering specialist, from AWG Plc. Aberdeen provided the equity funding with the Bank of Ireland providing a debt package including senior, working...
SWITZERLAND - Butler carves out Rhodia's European string and fibre operations
Butler Capital Partners has backed the management buyout of chemical specialist Rhodia's European fibre and string business. The buyout house took a 95% equity stake, while management retained the balance.
UK - LDC backs EUR 63m MBO of Anglo-Dutch corporate travel and event management firm
LDC has invested EUR 24m as part of a EUR 63m management buyout of ATP, an Anglo-Dutch corporate travel and event management firm formerly a subsidiary of Dutch investment company Reggeborgh. Lloyds TSB Acquisition Finance provided senior debt and revolving...
UK - Lion Capital portfolio company La Senza acquires Contessa
The holding company of La Senza Ltd, a Lion Capital portfolio company, has acquired Contessa for an undisclosed sum in a transaction that closed over the weekend. Lion Capital acquired lingerie retailer La Senza in a deal of undisclosed value in July...
UK - NGBI Private Equity backs £14m MBO of Change Recruitment Group
NBGI Private Equity (NBGI PE) has backed the ТЃ14m management buyout of Change Recruitment Group, an independent, Scotland-based recruitment consultancy.
UK - Inflexion Private Equity backs £13m buyout of Autocruise
Inflexion Private Equity has led the ТЃ13m buyout of Autocruise, a leading manufacturer of motorhomes in the UK. Inflexion-managed funds invested ТЃ5.9m to take a majority stake in the company. Royal Bank of Scotland also provided ТЃ8.5m of debt facilities...
GERMANY/FRANCE – Lafarge roofing unit sells for EUR 2.4bn
PAI Partners have acquired the roofing business of French cement giant Lafarge SA for EUR 2.4bn. The enterprise value for the acquisition consists of EUR 1.96bn of net equity and EUR 420m of debt and pension liabilities. JP Morgan and Rothschild co-arranged...
SWEDEN - EQT Oppportunity buys Melka Tenson and Five Seasons
The EQT Opportunity Fund has acquired sportswear companies M/T Owner (Melka Tenson) from Jacques Vert Plc, and Five Seasons from Five Seasons Inköps AB. The majority owner of Five Seasons, Gunnar Johansson, will together with management become co-owner...
SWEDEN - Industri Kapital to acquire Attendo
Industri Kapital has agreed to buy care company Attendo Group AB from the owners Bridgepoint, Mexab and Säki.
ITALY - Synergo and Change Capital Partners acquire Unopiù
Private equity firm Synergo SGR has acquired 50% of Unopiù in a club deal with Change Capital Partners. The deal value has not been disclosed.
ITALY - Advent acquires Venere.com
Advent International has acquired a majority stake in Venere.com, an online hotel reservations company, in partnership with its founders. The value of the transaction has not been disclosed.
UK - August Equity supports £40.9m take-private of Planit
August Equity has invested ТЃ14.2m in Planit Holdings Plc, to support the ТЃ40.9m management buyout of the AIM-listed company which will herald the first public-to-private deal in August Equityтs portfolio. The public-to-private scheme is expected to...
UK - The Carlyle Group to acquire Bigmouthmedia to merge with Global Media
The Carlyle Group has acquired Bigmouthmedia, the digital marketing agency headquartered in Edinburgh and will merge the company with its existing portfolio company, Global Media GmbH, the web marketing company headquartered in Munich. As a result, Carlyle...
UK - KKR and Goldman Sachs to bid for EMI
EMI, the London Stock Exchange-listed music company behind Robbie Williams and Coldplay is reported to have received an approach which may lead to a take-over bid. KKR and Goldman Sachs are believed to be among the potential bidders.