Exits
Secondary buyouts take up record slice of exit market
Ample funding for quick-dealing GPs has been a key driver of rising secondary buyouts
Piper divests Weird Fish to Total Capital
Deal-by-deal investor Total Capital will take a 70% stake in the leisurewear company
Terra Firma, CPPIB sell Awas to Dubai Aerospace
Earlier media reports suggested the vendors were seeking $7bn for the aircraft leasing company
Fondo Italiano d’Investimento exits Emarc via trade sale
GP sells its holding in the Italian auto parts producer after a five-year ownership period
Lone Star sells 53% of Forterra for £206m
Transaction sees the GP make a final exit from the UK brick manufacturing business
CapVest’s Valeo buys Dolciaria Val d’Enza from Alto
Italian GP reaps a 42% IRR from its investment after a three-year holding period
AnaCap buys Ellisphere
Ellisphere was hitherto a subsidiary of Natixis, which had managed the group since 2014
Perspective et Participations et al. back Société Besnard bolt-on
Previous funders Unexo and Sodero Unigestion have backed Microsteel since 2006
Bridgepoint's EMT to acquire Exova for £620m
Deal values the company at 12.5x its adjusted EBITDA for the 12 months ending in December 2016
LDC backs SBO of Addo from Vision Capital
Private investment fund Fullbrook Thorpe Investments has also invested in the UK pastry business
Active Capital Company acquires Codi Group
Active Capital had been the majority owner of Codi since 2013, when it invested €9.2m
Epiris sells Cala and Retirement Bridge to Patron
Acquirer had originally invested alongside Epiris in the acquisitions of both companies
Hannover Finanz sells Lück to Spie
Spie looks to expand its mechanical and electrical services capabilities in Germany
Baring exits Weetabix in £1.4bn trade sale to Post Holdings
Sale of cereal company comes just a year and a half after the GP acquired a 40% stake in the business
Accel-KKR's ESG buys Utiligroup from NorthEdge
Accel-KKR portfolio company Energy Services Group (ESG) has bought UK-based software and IT services company Utiligroup from NorthEdge Capital.
BC's Elysium acquires Badby from Patron
BC Partners bought 22 mental health facilities in the UK, formerly part of Priory Group, in November
Phoenix sells Key Retirement to Partners Group for £200m
New funding will be used to expand the company’s distribution capacity and drive product innovation
NorthEdge completes Fine Industries trade sale, scores 2.5x return
NorthEdge secures a 2.5x return on the chemicals business after a three-year holding period
Pamplona sells further 33% of OGF to Teachers' Private Capital
Pamplona, which first acquired the group in 2013, had already sold a 41% stake to OTTP in 2015
LBO France to take over HMY Group
Sagard became majority shareholder in HMY Group in 2005, acquiring the company for €340m
Ecapital and IBB sell Geo-En to GASAG
Acquisition of Geo-En provides a strategic expansion into energy services for GASAG
H2 Equity Partners sells Hancocks to Innovative Bites for £100m
Sale of confectionary wholesaler follows a holding period of four and a half years
Milestone Partners exits Quintus Technologies in $115m trade sale
The acquirer is Tokyo-based industrial group Kobe Steel, which will operate Quintus as a subsidiary
Capitem Partenaires exits Planett
Capitem Partenaires acquired a majority stake in Planett in 2015 through an MBO