Buyouts
UK - TDR Capital in bid to delist portable accommodation company
TDR Capital has made a recommended cash offer for Wraith Plc, a supplier of portable accommodation and related site services based in Lincolnshire. The 105p per share offer represents a market capitalisation of £30.29m and a 15.4% premium to the closing...
UK - Dunedin leads MBO of WFEL Ltd
Dunedin Capital Partners has led the £48m management buyout of WFEL Ltd, a designer and manufacturer of mobile bridging systems and related products. Dunedin provided £21m of equity, for a majority stake, alongside a debt package of £27.5m provided...
UK - Alchemy bids for Floors-2-Go Plc
Alchemy Partners has tabled a £52.4m bid for AIM-listed real wood and laminate flooring specialist Floors-2-Go Plc. The offer of 40p per share through a bid vehicle advised by Close Brothers Corporate Finance represents a 53.8% premium to the closing...
GERMANY – PPM Capital acquires orizon AG
PPM Capital has acquired the German temporary employment agency orizon AG for approximately EUR 200m from its main shareholder GL Aktiengesellschaft, Hamburg, and other private investors. The transaction is subject to approval by the antitrust authorities.
GERMANY - Advent to acquire the Oxo Group
Advent International has agreed to acquire Celanese Corporation’s “oxo” products and derivatives businesses for EUR 480m. The acquisition comprises the oxo chemicals and derivatives activities of Celanese and the European Oxo GmbH joint venture...
BELGIUM / ITALY - 3i invests EUR 30m in Electrawinds
3i has announced that it has acquired a minority stake in Electrawinds, an independent renewable energy company, for EUR 30m.
SWEDEN - Segulah buys Isaberg Rapid
Segulah has acquired Isaberg Rapid, a wholly owned subsidiary of the listed investment company Industrivärden. Isaberg Rapid focuses on the manufacturing and marketing of staplers and staples, under the brand name Rapid. In 2005, it recorded revenues...
SPAIN - Parques Reunidos to go under the hammer next January
The sale process of Parques Reunidos may be reaching its final stage.
GERMANY – NORD Holding acquires Shipbuilding Division
Hannover-based NORD Holding Unternehmensbeteiligungsgesellschaft mbH has announced it is to acquire a 70% stake in R & M Ship Technologies Group from the Bilfinger Berger Group. The management team led by CEO Joachim Buttke will hold the balance.
UK - Barclays Ventures backs £24m MBO of MSW Suspended Flooring
Barclays Ventures' Manchester team has backed the management buyout of MSW Suspended Flooring System Solutions Ltd (MSW). MSW is an installer of steel deck flooring systems into multi-rise new build projects, including the redevelopments at Twickenham...
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 £3.85m 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 Capital’s 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 £2bn 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 £1.6bn secondary buyout, has acquired Europackaging for a reported £190m.
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 £19.1m 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...