Buyouts
FRANCE - EdRIP and Initiative & Finance back MBI of medical supplier
Edmond de Rothschild Investment Partners (EdRIP) and Initiative & Finance (I&F) have backed the management buy-in of Laboratoires Filorga. EdRIP provided 60% of the equity, while I&F contributed 40%. The two sponsors took a majority stake, whilst the...
UK - Octopus leads MBO of Audio Visual Machines
Octopus has undetaken the management buyout of Audio Visual Machines (AVM) from Parkmead Group Plc. Octopus financed the deal and will hold a minority equity share in the business.
UK - Cinven offer for listed Pizza Express and ASK
Cinven has submitted its official offer for Gondola Holdings Plc, the name behind the Pizza Express and ASK restaurant chains through its acquisition vehicle Paternoster Acquisitions Ltd. The 415p per share offer values the share capital of Gondola at...
UK - ECI Partners invests £12m in M2 Digital
ECI Partners has invested £12m in M2 Digital, a fast-growing support services provider providing clients with innovative solutions for their document printing, copying and scanning requirements.
PORTUGAL - Espirito Santo Capital and GED Private Equity acquire CHCH
Grupo Azkoyen, a manufacturer of coffee vending machines, has sold the coffee distribution activities of its branch in Portugal, the Company of Hostelería and Consumo Hispanolusa (CHCH), for EUR 8.5m to Espirito Santo Capital and GED Private Equity....
FRANCE - Weinberg Capital Partners invests in Alliance Industrie
Weinberg Capital Partners (WCP) has invested in Alliance Industrie, a distributor of spare parts and provider of services for the automobile and trucking industries in France and the UK.
UK - First Reserve Corporation acquires Acteon Group Ltd
First Reserve Corporation has acquired a majority stake in Acteon Group Ltd. Acteon is a leading worldwide provider of specialised offshore and subsea services and equipment. The Company is active in the subsea service and construction market and offers...
UK - Och-Ziff's Whitehead Mann deal under threat
The proposed take-private of headhunting firm Whitehead Mann led by Och-Ziff is reported to be under threat from Jeremy Hosking. He has already built up a stake in the company through his vehicle Marathon Asset Management and apparently intends to augment...
UK - Interest in UK water companies continues
Anglia Water (AWG) which last week recommended a £2.2bn takeover offer from Osprey, a consortium including Colonial First State, Canada Pension Plan Investment Board and 3i's infrastructure fund, may be the subject of another takeover bid. Reports suggest...
UK - Aurigo Management join Esporta auction
Esporta, the fitness-club chain held by Duke Street Capital, has reportedly received interest from the private equity vehicle of former Asda chairman, Archie Norman. His vehicle Aurigo Management will join leisure group Whitbread, owner of David Lloyd...
FRANCE - EPF Partners backs Audisoft Consultants
EPF Partners has taken a 43% stake in Audisoft Consultants, a financial advisory firm which focuses on legal and social risk, IT project management, and process optimisation.
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...
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.
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 £665.4m 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 £8.5m. 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 £600m.
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...
SWITZERLAND - Equita acquires PMA-Gruppe
Equita, sponsored by the Harald Quandt family, has acquired a majority interest in PMA-Gruppe from Fränkische Rohrwerke Gebr. Kirchner GmbH & Co KG. The company is headquartered in Uster.