Buyouts
GERMANY - Chrysler sold to Cerberus for EUR 5.5bn
DaimlerChrysler has agreed to sell its Chrysler division to US private equity firm Cerberus for EUR 5.5bn. Cerberus will take an 80.1% stake with Daimler retaining 19.9%. The transaction has been supported by American unions. In 1998 Daimler paid $35bn...
FRANCE - Alliance Entreprendre and Avenir Entreprises invest in Lewinger
Small- to mid-cap investors Alliance Entreprendre and Avenir Entreprises have backed the owner buyout of Roanne-based pret-a-porter specialist Lewinger.
UK - ISIS backs £11.5m MBO of CableCom
ISIS Equity Partners, investing funds from the Baronsmead VCTs, has completed the £11.5m management buyout of IT company CableCom. Based in Clevedon, near Bristol, CableCom operates in the growing market of IT and communication managed services to multi-tenanted...
FRANCE - PAI makes EUR 1.2bn bid for Kaufman et Broad
PAI partners has made an offer for 49% of house builder Kaufman et Broad, according to French press reports. The EUR 53.13 per share bid values the business at around EUR 1.2bn.
ITALY - Fashion house Valentino attracts private equity interest
The president of Valentino, Antonio Favrin, has reportedly said that the haute couture group has been approached by a handful of private equity firms. However, it is not yet clear if the stake for sale corresponds to a minority portion or a controlling...
FRANCE - Atos Origin snubs its suitors
Computer services business Atos Origin has decided to pursue its growth strategy on a stand-alone basis, ending speculation about a possible LBO.
IRELAND - Terra Firma portfolio company in $5.2bn buyout
Terra Firma portfolio company AWAS, an aircraft leasing company headquartered in Dublin, has acquired Pegasus Aviation Finance Company in a $5.2bn buyout from Oak Tree Capital Management.
TURKEY - Global Finance buys stake in Biofarma
Greek private equity firm Global Finance is the latest investor to purchase a stake in Turkish pharmaceutical business Biofarma.
FRANCE - Atos Origin will break the suspense on Monday
The shares of French computer servies giant Atos Origin have been suspended pending a press release to be published on Monday morning.
UK - PAI hungry for Big Brother-maker
Production company Endemol, the name behind Big Brother and Deal or No Deal is on the block with bids expected to fetch EUR 3bn. Spanish group Telefónica announced its plans to sell its 75% stake earlier this year.
UK - JC Flowers sniffs out Friends Provident with AXA
Shares in Friends Provident climbed yesterday amid speculation that JC Flowers is considering working on a bid for the UK life assurer with insurance giant AXA.
FRANCE - Sofimac Partners invests EUR 250,000 in Cottel
Sofimac Partners, a regional growth cpaital investor focusing on the Massif Central, Rhône-Alpes and Southern regions, has invested EUR 250,000 in the owner buyout of Cottel, a manufacturer of advertising objects.
FRANCE - XAnge Capital invests in Edipro
XAnge capital has invested around EUR 2m in the owner buyout of digital printing management system Edipro, in exchange for a 32% stake.
UK - TPG and Warburg Pincus team up to acquire New Look for £2bn
Texas Pacific Group and Warburg Pincus have teamed up to bid for low-cost fashion retailer New Look. Press reports suggest the TPG consortium is currently front runner to acquire the Weymouth-based retailer in a Merrill Lynch-run auction. CVC, Cinven...
UK - Bank of Scotland supports McColl acquisition of Weir with £30m equity bridge
Weir Pumps has been acquired by Jim McColl's Clyde Blowers group of companies in a £100m deal. Bank of Scotland provided a £3 0 m equity bridge to ensure the swift completion of the deal. An Entrepreneur Fund will be established by the management...
UK - Sovereign in £11m buyout of living care company
Sovereign Capital has backed the £11m institutional buyout of Parallel Options Ltd, a provider of supported living care services to adults with learning disability or mental health needs in Gloucestershire.
UK - Babcock edges out Carlyle in Devonport deal
An initial agreement between the vendors of naval dockyard Devonport and Babcock International indicates that Babcock has edged out rival bidder Carlyle. The £350m deal would be subject to approval from the Ministry of Defence and competition authorities,...
UK - YFM's Chandos Fund completes first deal with £2.3 investment
YFM Private Equity's latest fund, Chandos, has completed its first buyout. Chandos's first deal, a £2.3m investment in fitted kitchen specialist Harvey Jones, follows its first close on £23m in January. The fund is targeting a final close of £40m,...
UK - Alchemy interested in Torex Retail
Alchemy Partners is reported to be interested in acquiring struggling software retailer Torex Retail. Aim-listed Torex hit trouble earlier this year with a profit warning and a suspension in the trading of its shares. It is currently under investigation...
GERMANY - Greater Pacific Capital front runner in bid for Merck division
UK-based private equity firm Greater Pacific Capital is the front runner to acquire the generic drugs division of Merck. GPC is bidding in association with Indian company Torrent Pharmaceuticals and backing from Fortress Group and Tudor Investment. The...
UK - BC Partners wins £400m auction for Foxtons
It is understood that BC Partners has reached exclusivity in its bid to acquire estate agency chain Foxtons. The deal values the primarily London-focussed agency at £400m. In a process run by Credit Suisse, BC Partners beat off competition from other...
SPAIN/FRANCE - Altadis opens its books to trigger bidding war
In an effort to ramp up competition for its acquisition, Franco-Spanish tobacco company Altadis yesterday opened its books to the scrutiny of bidders Imperial Tobacco and a CVC Capital Partners/PAI partners syndicate.
FRANCE - HgCapital buys French wind farms for EUR 69m
Via its fund Hg Renewable Power Partners, HgCapital has acquired four wind farms in the Picardie region, for a total consideration of EUR 69m.
SPAIN - Torreal buys minority stake in audiovisual group
Private equity firm Torreal has bought a 20% stake in audiovisual group Imagina. No further financial information has been disclosed.