Buyouts
UK - Hedge fund tries to scupper Fortress/Telent deal
The Financial Times today reports that Fortress Investment Group's proposed take-private of Telent was uncertain due to the tactics of US hedge fund Polygon. The board of the Marconi telecommunications equipment business has already approved the offer...
ITALY - Aletti acquires majority stake in Lovato
Aletti Private Equity has purchased 70% of Officine Lovato from its founders, via the Dimensione Network fund. According to reports in the Italian press, the transaction is worth around EUR 25m.
SPAIN - Bridgepoint buys Dorna from CVC
Bridgepoint has won the competitive auction to replace CVC Capital Partners as a shareholder in Dorna, a motorcycle sports business that promotes and manages MotoGP (the Motorcycle Road Racing World Championship). Other private equity firms involved in...
UK - ABN AMRO Capital acquires Amtico in £98.25m deal
ABN AMRO Capital has agreed to acquire Amtico International, the high end flooring designer and manufacturer, from Electra Private Equity. The transaction, which is expected to complete in around four weeks subject to customary approvals, values the business...
ITALY - Wise acquires majority stake in SpII SpA
The private equity firm Wise SGR, via the funds Wisequity II & Macchine Italia, has acquired a majority stake in SpII SpA, an industrial automation player for the logistic sector, from its founders for an undisclosed sum.
NL-Cinven and Warburg Pincus agree to acquire Casema
Cinven and Warburg Pincus have announced that they have signed an agreement to acquire cable operator Casema from The Carlyle Group, Providence Equity Partners and GMT Communications Partners.
UK - Misys 'management walk in' to prevent company being sold off too cheaply
Control of software firm Misys is reported by the Times to have been assumed by three former directors who want to prevent the firm being sold off too cheaply to private equity or trade buyers. Under plans by the directors, the £1bn firm will be broken...
UK - Caudwell's mobile phone empire snapped up by private equity
The mobile phone empire of John Caudwell is to be acquired by three private equity groups according to a report in the Sunday Times.
UK - McCarthy & Stone to recommend Permira's offer
The nearly £1bn joint offer from Permira and Barclays Capital for McCarthy & Stone is today expected to be recommended by the board of the company, according to the Times.
UK - Taylor Nelson Sofres receiving private equity interest
The international market research firm Taylor Nelson Sofres (TNS) is said to have attracted private equity interest. The company has encountered the dissatisfaction of its institutional investors after it revealed revenues in the US had fallen and were...
UK - Blackstone and KKR target Argos and Homebase
GUS, the parent company of Argos and Homebase retailers (ARG)and Experian, the business information provider, which is intent on a demerger of the two divisions in October, is reported to have received private equity offers for both arms of the company....
FRANCE - Deadline for PagesJaunes bids
Bidders for France Telecom's 54% stake in directory service PagesJaunes are expected to place binding offers today.
UK - Scott Tod to be taken over by Rutland Partners
Scott Tod, the struggling cash machine specialist is to be delisted by Rutland Partners in a deal which values the loss making company at £7.4m.
UK - Aberdeen Asset Managers backs MBO of Homelux Nenplas
The UK's leading tile accessory and plastic extrusion manufacturer, Homelux Nenplas, has been the subject of a management buyout led by Aberdeen Asset Managers. The business was sold by US-based Newell Rubebrmaid. Yorkshire Bank supported the transaction.
SPAIN - M-Capital invests in Arigas Andalucia and Autosur
M-Capital has taken a 40% shareholding in Arigas Andalucia, an early-stage company that specializes in maintenance services for water and gas networks. The Cordoba –based company Arigas Instalaciones will hold the remaining stake.
UK - Busy times for Sovereign Capital
In the space of three days, Sovereign Capital Partners has completed an exit and an acquisition finance deal. The exit deal from SENAD Group, a specialist educational provider in Derbyshire, Staffordshire and Wales, generated an IRR of 110% and represents...
GERMANY - Palamon takes controlling stake in cadooz
Palamon Capital Partners has acquired a controlling stake in cadooz AG. The company is a provider of gift certificates for corporate customers in Germany. The financial investor has committed EUR 15m in capital within the framework of the transaction.
UK - Permira and DLJ make shortlist for All3Media
Permira and the private equity arm of Credit Suisse, DLJ are on the shortlist to acquire the company behind Hollyoaks and the Richard & Judy show.
SWITZERLAND - Capvis invests in storage solutions
Capvis Equity Partners has taken a majority stake in Lista B+L Holding, comprised of the Lista Workspace and Storage Systems group. The deal is part of Lista Group's 18-month restructuring plan. The company recorded revenues of SFr 220m in 2005, with...
FRANCE - French investor backs MBO of home hairdressing service
Edmond de Rothschild Capital Partners (EdRCP) has taken a significant majority stake in home hairdresser, Viadom.
UK - Gresham backs MBO of Giles Insurance Brokers
Gresham has announced that it has backed Chris Giles and the management in the management buyout of Giles Insurance Brokers Ltd, one of the UK’s fastest growing commercial insurance brokers, in a deal valued at £45m.
UK - Terra Firma to team up with GIC and Macquarie for Thames Water?
The Financial Times suggests that Terra Firma may be joining forces with the investment vehicle of the Singaporean government, GIC, in order to bid for Thames Water. Macquarie Bank is also reported to be involved in preliminary talks to form a consortium.
UK - Further consolidation of the health market?
Holmes Place, controlled by Permira and Bridgepoint Capital, could be acquired by Virgin Active if a new merger plan is to go ahead. According to the Financial Times, the Virgin Group would then float the enlarged company which would be the UK's second...
UK - Gresham Private Equity backs MBO if Just Trays
Gresham Private Equity has today announced its backing in the MBO of Just Trays, the UK’s leading manufacturer of shower trays. It has an estimated 20% share in the UK shower tray market and plans to increase its market share by introducing further...