Buyouts
UK - BUPA next private equity target?
Market sources report that Temasek, the Singapore government investment group, is weighting up a bid for private healthcare provider BUPA. It is understood that at least one other private equity group may also be involved in a Temasek-led bid.
UK - West Coast Capital offer for Blooms accepted
West Coast Capital will shortly add Blooms of Bressingham to its garden centre assets after the nursery chain's board accepted its offer. West Coast Capital led a consortium comprised of Baugur, HBOS and property entrepeneur Nick Leslau to bid £30.2m...
UK - Cognetas ends talks with fashion retailer Alexon
Market sources report that talks between the independent directors of fashion retailer Alexon and a management buyout team have ended. The team, believed to be backed by Cognetas, failed to reach an agreement on price.
FRANCE - Barclays Private Equity takes minority stake in scaffolding business
According to market sources, Barclays Private Equity has taken a minority stake in Entrepose-Echafaudages, in a secondary 'owner buyout'.
FRANCE - AXA Private Equity backs Brittany-based house builder
AXA Private Equity has acquired a minority stake in Trecobat, a house-builder focused on Brittany.
UK - Charterhouse acquires Drive Assist from TA Associates in EUR 380m deal
TA Associates has made returns of 3.3x its money through a sale of credit hire company Drive Assist UK Ltd to Charterhouse Capital Partners. The enterprise value of EUR 380m will reap an IRR of 44% for the investor which decided to exit following pro-active...
UK - Shackleton acquires four companies from 3i
Shackleton Ventures, the newly formed secondaries venture capital firm has agreed to purchase four investments from 3i. Shackleton was formed in July 2006 and can drawn on up to £20m of funds from its European fund-of-funds investor.
UK - Star Capital Partners in £141m flight simulator deal
Star Capital Partners has acquired two flight simulator operators for a total consideration of £141m. The investment is being made from its second infrastructure fund leading commentators to suggest that high demand for infrastructure assets is resulting...
FRANCE - European Capital discloses its investment in Delsey
European Capital has announced that it provided a EUR 120m unirate loan to finance the buyout of luggage brand Delsey by Argan Capital.
US - Blackstone buys Equity Office for $39bn in world's largest buyout
The Blackstone Group has secured the world’s largest leveraged buyout, agreeing a $39bn price (£20.2bn) for Equity Office, the biggest office landlord in the US. Blackstone won the deal after fending off competition from real estate investment trust...
UK - Cinven and Blackstone are hungry for latest restaurant target, La Tasca
AIM-listed La Tasca, an operator of 70 Spanish themed restaurants across the UK with four in the US, is reported to be the latest restaurant chain to attract the interest of private equity. Blackstone and Cinven are both expected to be interested in the...
Poland - Krokus Private Equity acquires Izoterm
Krokus Private Equity has acquired a 74% stake in thermal insulation services provider Izoterm for around EUR 5m. The company’s president, Mr Józef G³adki will retain a 26% equity stake. This represents the first investment for Krokus from its new...
UK - Apax-backed Incisive Media acquires VNU UK operations
Apax portfolio company Incisive Media has acquired the UK operations of VNU in a back-to-back transaction from 3i following its acquisition of VNU's European publishing interests. 3i completed the buyout of Netherlands-based VNU Business Media Europe...
SPAIN/ITALY – RCS takes Recoletos home for EUR 1.1bn
As reported yesterday by unquote news", Spanish publishing group Recoletos was considering a purchase offer from its Italian counterpart RCS.
FRANCE - European Capital invests EUR 12.5m in LBO France's buyout of Poult
European Capital has announced that it has invested a total of EUR 12.5m to help finance LBO France's buyout of biscuit maker Poult, which took place last October.
UK - Modus Private Equity invests £8m in packaging MBO
Modus Private Equity has invested over £8m to back the management buyout of Mondi Speciality Packaging, formerly a part of Anglo American Plc.
NL - ABN AMRO Capital to acquire Baarsma Wine Group
ABN AMRO Capital has signed an agreement to acquire a majority interest in wine distribution firm Baarsma Wine Group Holding. The current management team will retain a 40% stake in the firm and in addition, managers in key positions will be given the...
UK - TPG joins Sainsbury's bid team barring chance of rival bid
The CVC-led consortium preparing to launch an £11bn bid for Sainsbury's has added another member to its ranks. Texas Pacific Group, which had been in talks with Cinven and Bain Capital about a rival bid for the supermarket chain, now joins CVC, KKR and...
SPAIN - RCS makes EUR 1.3bn offer for Recoletos
Publishing group RCS, owner of Italian broadsheet Corriere della Sera, is reported to have made an offer of EUR 1.3bn for media group Recoletos.
GREECE - Apax and TPG sell TIM Hellas to Naguib Sawiris
Apax Partners and Texas Pacific Group (TPG) today announced the sale of TIM Hellas Telecommunications S.A. the third largest mobile phone carrier in Greece, to Weather Investments, the vehicle owned by telecom tycoon Naguid Sawiris.
FRANCE - Financière Agache wins Go Voyages auction for EUR 281m
Bernard Arnault's holding company, Financière Agache has won the auction for the acquisition of travel agent Go Voyages. The deal values the business at EUR 281m, representing a capital gain of EUR 200m for its vendor, Accor.
UK - TDR Capital to delist portable accommodation company
TDR Capital's offer for portable accommodation company Wraith Plc has been declared unconditional. The offer of 105p per share gives Lincolnshire-based Wraith a market capitalisation of £30.29m.
GERMANY - Rademacher Group changes hands in secondary transaction
In a secondary buyout, NORD Holding Unternehmensbeteiligungsgesellschaft has acquired the Rademacher Group from ARCADIA. Management also invested and will hold a minority stake. The transaction value has not been disclosed.
UK - Bank of Scotland housebuilding portfolio company in talks with trade buyer
Bank of Scotland housebuilding portfolio company Linden Holdings is in exclusive talks with listed housebuilding and construction company Galliford Try to be acquired. A possible deal would represent an exit for Bank of Scotland Integrated Finance which...