Buyouts
UK - Countrywide and 3i yet to reach agreement
The UK's largest chain of estate agents, Countrywide, which has received an offer of 530p per share from 3i is yet to come to an agreement with the private equity firm.
UK - Arcapita launches £1.62bn bid for Viridian Group Plc
London Stock Exchange-listed Viridian Group Plc has received a take-private offer from Arcapita Bank through its vehicle ElectricInvest. The bid offers 1,336p per share which represents a premium of 23% on the share price before Viridian announced it...
FINLAND - Sponsor sells sauna manufacturer to ABN AMRO
ABN AMRO Capital has agreed to acquire Saunatec Group Oy from Sponsor Capital Oy. The transaction is expected to complete by the end of October.
SWEDEN - Nordic Capital and Apax increase offer for Capio
Opica, a company jointly owned by Apax Europe VI, Nordic Capital Fund VI and Apax France, has increased the offer price for Capio to SEK 17bn. The increased offer, from SEK 153 to SEK 167 per share, is unanimously recommended by the board of directors...
UK - Northgate next private equity target
Shares at Northgate Information Solutions, a specialist software and IT services group, have risen over the last few months and are now approaching 100p per share on the back of rumours that the company will be delisted by private equity.
FRANCE - CIC LBO Partners backs secondary buyout of Snacks International
CIC LBO Partners, Crédit Mutuel's EUR 135m LBO fund, has backed the secondary buyout of Snacks International, alongside IPO, Unigrains and the company's management.
UK - Hastings Infrastructure Fund in £665m secondary buyout of South East Water
Hastings Fund Management, an infrastructure fund owned by the Australian bank, Westpac, has acquired South East Water from Macquarie in a ТЃ665.4m secondary buyout deal. Commentators have suggested that Macquarie's timely exit is evidence of its keenness...
UK - Endless acquires six-site Mercedes-Benz dealership
Endless is pleased to announce that it has supported the management buyout of H&L Garages Ltd (H&L) from its parent, PD Ports Group Ltd, part of quoted Australian company Babcock & Brown Infrastructure, for ТЃ8.5m. Funding for the buyout was also provided...
UK - Palamon to acquire British payment card issuer Retail Decisions Plc
Retail Decisions Plc, a London Stock exchange-listed company which assists retailers, telecommunications companies, oil companies, e-commerce retailers and banks to prevent the fraudulent use of payment and credit cards, has received a cash offer from...
UK - Britvic offer abandoned by Permira
Permira has abandoned a planned bid for soft drinks maker Britvic. The offer would have valued the company which sells brands such as Pepsi and Tango at around ТЃ600m.
UK - Anglia water to be acquired by Colonial First State consortium
Anglia Water (AWG) has recommended a takeover approach from a consortium led by Colonial First State, the fund management arm of Commonwealth Bank of Australia and the government pensions fund of Canada, CPP Investment Board. 3i's infrastructure fund...
HUNGARY - Permira to acquire BorsodChem Nyrt
Permira has made a public purchase offer for all registered shares in BorsodChem Nyrt, which values Borsod's equity at approximately EUR 850m. The offer price per share is HUF 3,000 and is being made by First Chemical Holding Vagyonkezelö Kft, a holding...
UK - PPM Capital to acquire restaurant group Paramount
The restaurant group behind Chez GУЉrard and CaffУЈ Uno is expected to be acquired by PPM Capital in a deal worth ТЃ108m. In the last financial year the restaurant group which is known as Paramount, which trades from 80 sites, generated sales in excess...
ITALY - Aksia Group buys majority stake in Turbosol
Private equity firm Aksia purchased a 80% shareholding in Turbosol Produzione SpA from its founding family for EUR 15m. The company, located in the suburbs of Treviso, specialises in the production of machinery and systems for pumping and spraying mortars...
FRANCE - 3i sells Keolis to SNCF
According to press reports, 3i has sold its 52.5% stake in Keolis back to its previous owner, state-owned rail group SNCF.
ITALY - Synergo Sgr buys 40% of Air Italy
Gianfilippo Cuneo's firm Synergo Sgr has recently agreed to invest an undisclosed amount of capital in return for a 40% stake in troubled low-cost airline Air Italy. The consideration has not been disclosed. The growth plan will see the expansion of the...
SPAIN - Applus+ still attracting private equity interest
Reports suggest that even after the failed takeover bid by Candover, the shareholders of Applus+ are still determined to sell the company.
ITALY - Synergo Sgr buys 40% of Air Italy
Gianfilippo Cuneo's firm Synergo Sgr has recently agreed to invest an undisclosed amount of capital in return for a 40% stake in troubled low-cost airline Air Italy. The consideration has not been disclosed. The growth plan will see the expansion of the...
UK - HitecVision and Ferncliff back Noble Denton Holding Ltd
The shareholders of Noble Denton Holding Ltd have today agreed to sell the company to a consortium of Norwegian investors consisting of HitecVision and Ferncliff. Key employees of Noble Denton will retain a significant 40% share of the business going...
FRANCE - Possible EUR 2bn sale of FNAC
According to reports in the French press, PPR is considering selling FNAC, a nationwide books and media retailer.
ITALY - Sinergia and Parà announce acquisition of Arquati
The fund Sinergia con Imprenditori, managed by private equity firm Synergo Sgr, and industrial player Parà have jointly acquired 100% of Arquati, a group specialised in picture frame moulding, wood drapery poles and tracks for the window covering industry....
UK - Duke Street Capital acquires 2e2 from Gresham in £130m deal
Duke Street Capital (DSC), has agreed to acquire leading IT services business 2e2 in a ТЃ130m secondary management buyout from Gresham Private Equity. 2e2, which has operations in the UK, Channel Islands, Holland and the Isle of Man, operates in a number...
GREECE - Apax and Texas to reap a fourfold return with TIM Hellas auction
Apax Partners and Texas Pacific Group have put a for sale sign on their portfolio company TIM Hellas, a Greek mobile services provider. According to press reports, the buyout firms have mandated Morgan Stanley and Lehman Brothers to begin an auction process...
FRANCE - Ciclad takes 84% of construction equipment business
Ciclad has taken an 84% stake in Hussor, a manufacturer of concrete moulds for the construction industry.