Exits
Bridgepoint secures £375m refinancing for Pret debt
Pret A Manger will pay out £150m to its private equity owner Bridgepoint following a dividend recapitalisation.
Axa PE sells Outremer to Altice
Axa Private Equity has divested its majority stake in French telecom operator Outremer Telecom to cable and telecommunications investment firm Altice and the company’s management.
VC-backed Cardio3 announces launch of €28.4m IPO
Cardio3 Biosciences, a Belgian pharmaceutical company backed by a number of venture capital investors, has launched the subscription period of its IPO.
CVC raises €812m in bpost IPO
CVC-backed bpost started trading on the NYSE Euronext Brussels today, in an IPO valuing the business at €2.9bn.
Private equity circles D&G
Private equity firms including Blackstone, CVC and Clayton Dubilier & Rice are believed to be in a second round of bidding for Advent International's Domestic & General (D&G).
İş Private Equity offloads Aras Kargo stake
Turkey-based İş Private Equity has sold its 20% holding in parcel delivery group Aras Kargo to Austrian Post in a deal worth €50m.
Key Capital Partners’ Dwell goes into administration
Furniture retailer chain Dwell has gone into administration, resulting in 23 store closures and 300 jobs shed.
Platina exits Mistral Windfarm 1
Platina Partners has sold the remaining assets in the Mistral Windfarm 1 fund, reaping an overall gross IRR in excess of 40%.
Bain to buy Maisons du Monde from Apax, LBO France
Bain Capital has agreed to acquire French home decorations and furniture retail business Maisons du Monde in a secondary buyout understood to be worth around €650m – close to 8x EBITDA.
Springer Science: EQT opts for €3.3bn sale to BC Partners
EQT Partners and the Government of Singapore Investment Corporation (GIC) have agreed to sell German media publisher Springer Science to BC Partners for €3.3bn.
Dalian Wanda Group buys Sunseeker from FL Partners
After less than three years' ownership, FL Partners has agreed to sell luxury motor yacht manufacturer Sunseeker International to Chinese commercial property and entertainment conglomerate Dalian Wanda Group.
Cabot sells KRS to Phoenix, makes 5x
Cabot Square Capital has sold Key Retirement Solutions (KRS) to Phoenix Equity Partners, enjoying a 5x return on its original investment.
ECM sells Kadi to Paragon
ECM Equity Capital Management has sold its majority stake in Kadi AG, a Swiss frozen food manufacturer, to Paragon Partners and the company’s management team.
Maj Invest sells Kelsen Group to Campbell Soup
Maj Invest has sold Danish baked snacks maker Kelsen Group AS to Campbell Soup.
CVC- and KKR-backed Van Gansewinkel sells AVR subsidiary
Van Gansewinkel Groep, which is backed by CVC and KKR, has sold AVR Afvalverwerking BV (AVR) to the Cheung Kong Group consortium for €940m.
Lime Rock Partners' RTX files for bankruptcy
The board of Lime Rock Partner’s Norwegian portfolio company Reservoir Exploration Technology (RTX) filed a petition for bankruptcy on 13 June.
Axa PE buys Trescal in €250m SBO
3i stands to double its money in a little less than three years after agreeing to sell French measurement services specialist Trescal to Axa Private Equity for around €250m.
EQT and GIC opt for Springer Science IPO
EQT and GIC's plans for a potential trade sale of German media publisher Springer Science to BC Partners have definitely been scrapped as the owners firmly focus on a listing.
Bridges sells The Gym Group to Phoenix
Bridges Ventures has sold a majority stake in The Gym Group to Phoenix Equity Partners, realising a 3.7x money multiple and a 50% IRR.
EQT’s Munksjö lists on Nasdaq OMX Helsinki
Shares in EQT-backed speciality paper producer Munksjö have started trading on the Helsinki Stock Exchange.
European Capital exits MTH
European Capital has sold German company Metall Technologie Holding GmbH (MTH) to LOI Thermprocess GmbH, reaping a 1.6x multiple on its original investment.
Ingenious sells Digital Rights to Modern Times for £13.2m
Ingenious Media Active Capital (IMAC), a closed-ended investment company managed by Ingenious Ventures, has sold its stake in Digital Rights Group (DRG) to Swedish broadcaster Modern Times Group (MTG) for £13.2m.
2013 exit activity on course to match quiet 2012
Divestment activity figures so far this year highlight the exit environment remains tough for GPs looking to return cash to investors – although recent weeks have seen positive trends unfolding.
Sentica’s atBusiness merges with Innofactor
Sentica Partners Oy has sold Finnish technology company atBusiness to Innofactor.