Buyouts
BELGIUM - Fortis acquires majority stake in automotive supplier Penne
Fortis Private Equity has acquired a majority stake in Penne NV, an Aalst-headquartered automotive supplier.
SWEDEN - 3i buys educational toys supplier from Procuritas
3i has acquired educational learning material and toys supplier Lekolar AB from Procuritas. Headquartered in Osby, Lekolar includes BRIO Lek&Lär AB, Printel Oy, RABO A/S and BRIO Lek&Laer A/S. The company has 230 staff and generated sales of over SEK...
UK - Further speculation surrounds EMI
EMI is again the subject of private equity speculation. It is understood that One Equity Partners is looking at the company.
UK - GMG'sTrader Media Group to be sold to private equity?
Guardian Media Group is reported to be in discussions with Apax, Blackstone and Candover about a possible sale of its Trader Media Group. Trader is responsible for listings magazine Auto Trader and approximately 70 titles in the UK, Ireland, the Netherlands...
GERMANY - EQT acquires German fashion group from Apax and Cinven
EQT V has agreed to buy 100% of German fashion group CBR Holding GmbH (CBR) from Apax and Cinven.
UK - Gaitsford Investments backs MBO of Arena from Candover's Evenser
Gaitsford Investments has backed the management buyout of Arena Events Services Group Ltd. The company has been divested by Evenser Group Ltd, a company backed by Candover.
GERMANY - APCOA changes hands for EUR 885m
Investcorp has sold pan-European manager of parking services APCOA to Eurazeo for an enterprise value of EUR 885m. In the summer of 2004, Investcorp acquired 98.26% of APCOA Parking AG from Salamander AG, a subsidiary of EnBW Energie Baden Württemberg...
SPAIN - MCH, Corpfin and Carlyle compete for tour operator
According to press reports, private equity firms MCH, Corpfin and Carlyle are among the bidders for tour operator Catai Tours.
SWEDEN - EQT rumoured to buy Scandic Hotels
EQT is believed to announce in the near future that it will acquire Scandic Hotels from Hilton, according to Swedish press reports.
UK - 3i-backed NCP to be subject of £800m tertiary buyout
3i is reported to be in discussions with Macquarie over a possible sale of NCP, the UK car park operator. The deal could fetch up to £800m generating impressive returns for 3i, which acquired NCP from Cinven for £555m in mid-2005. Macquarie had bid...
UK - Apollo launches £1bn formal bid for Countrywide
Apollo Management has launched a £1bn takeover of the UK's largest estate agency chain Countrywide. The offer excedes the £971m bid by 3i earlier this year which was rejected by shareholders after being recommended by the company's board.
UK - Atlantic Bridge Ventures leads £265m acquisition of telecom products business
Atlantic Bridge Ventures has led a consortium of private equity buyers in the acquisition of LogicaCMG's Telecoms Products business for a cash consideration of £265m. Telecom Products, to be renamed Acision, is a provider of converged mobile messaging...
SPAIN - Another transport player for Doughty Hanson's fleet
After closing its first deal in Spain by acquiring transport group Avanza, Doughty Hanson is said to be considering a bid for another transport company.
ITALY - Bridgepoint to bid for World Superbikes' organiser
Press reports suggest that Italian FG Group, the company holding the rights to motorcycle championship World Superbikes, is up for sale for around EUR 70m.
UK - 3i expected to sign Enterprise buyout in a month
3i has made a 605p per share offer for maintenance group Enterprise. The deal values the company at £486m and sources close to the buyout expect it to be approved and signed within a month. The current offer represents a premium of 29.5% per share before...
UK - Possible Sainsbury's deal gets even more complicated
Any formal bid for the supermarket retailer Sainsbury's looks set to face complications as news emerges that Polygon has built a 1.5% stake in the company. In the past the hedge fund has taken activist positions and helped scupper the £346m take-private...
UK - Barclays Ventures backs MBO of paper products manufacturer
Barclays Ventures has backed the management buyout of F Bender Ltd, a manufacturer of paper catering products, investing £5.25m for a significant stake. The move secures the future of the company following recent financial difficulties, and comes five...
UK - 3i to bid for Enterprise
3i is in talks with Enterprise Plc, a company which provides support services and maintenance to utilities companies, local government and large corporations. It is understood that the offer will be up to 20p higher than a 575p per share bid from an unknown...
ITALY - Alto Partners' new fund closes its first deal
Alto Capital II, a fund closed recently on EUR 165m, has completed its first deal.
UK - Close Growth Capital supports £32m MBO of A-Gas from 3i
Close Growth Capital (CGC) has supported the £32m secondary management buyout of A-Gas International from 3i. CGC provided hybrid equity and debt financing for the deal. Senior debt and working capital facilities were provided by Barclays Bank. Bristol-based...
UK - Reed Elsevier expects private equity interest in its education business
Reed Elsevier has hired UBS to advise it on the disposal of its education division.
UK - Apollo closer to making Countrywide offer
Apollo is one step closer to making a formal bid for UK estate agency Countrywide after arranging the financing for a possible deal. It is expected to offer approximately 597p per share trumping 3i's rejected bid of 570p earlier this year.
UK - Lion Capital set to dispose of Burton's Foods
Lion Capital is considering disposing of Burton's Foods, the maker of Wagon Wheels and Maryland Cookies which it acquired in 2000 for £130m in its former guise Hicks Muse Tate & Furst. This would be the second divestment in as many weeks for the investor,...
SPAIN - Mercapital, Ibersuizas and Vista compete for Indas
Reports in the Spanish press suggest that Mercapital and Ibersuizas have joined Vista in the competition for pharmaceutical business Laboratorios Indas. The deal is valued at around EUR 360m.