Exits
GI Partners acquires Advanced Childcare for £28m
GI Partners has acquired UK healthcare provider Advanced Childcare (ACL) from Bowmark Capital for £28m.
BC Partners acquires Phones4U in SBO
BC Partners has acquired Phones4U from Providence Equity Partners for an undisclosed sum.
Innova to float Libet on WSE
Innova Capital is looking to float Polish paving business Libet just over a year after acquiring the firm in a corporate spin-off.
PAI Partners sells Yoplait stake to General Mills
PAI Partners has sold its 51% stake in French yoghurt maker Yoplait to General Mills, in a deal that values the company at €1.6bn.
ISS IPO postponed
EQT and GS Capital Partners have pulled the IPO of Danish outsourcing group ISS at the last minute, according to reports.
Leonardo Ventures exits Isis and Culavis
Leonardo Ventures has sold its two of it portfolio companies Isis sentronics and Culavis forfor for €1.6m and €45,000 respectively to private investors.
DFJ Esprit reaps 5x on TLC sale
European venture capital firm DFJ Esprit has reaped a money multiple of 5x on its trade sale of customer relationship management company TLC.
CNPEF and Fondamenta sell 50% of Ares Line
Cape Natixis Private Equity Fund (CNPEF) and Fondamenta SGR have sold a 50% stake in Ares Line S.r.l. for approximately €5m equity.
Perceva Capital recapitalises Shark
Perceva Capital has recapitalised French motorcycle helmets manufacturer Shark, in a deal that values the company in the €25-50m range.
PE-backed IPOs: Set for a comeback?
The difficulties encountered by private equity-backed IPOs in 2010 reignited the debate on the public markets’ cautious attitude towards such assets. A seminar hosted by Taylor Wessing today saw industry participants discuss what is on the cards for...
Mid Europa Partners getting ready to exit Orange Austria
Mid Europa Partners is reported to be looking to sell its 65% stake in Orange Austria to France Telecom, which already holds 35% of the mobile phone service provider.
CapMan’s Cardinal Foods sells Norsk Kylling
CapMan’s portfolio company Cardinal Foods has sold its subsidiary Norsk Kylling to REMA Industrier.
EQT looking to float Kabel BW
EQT is thought to be planning a flotation of cable provider Kabel BW on the Frankfurt stock exchange.
FII sells Switch Engineering
Finnish Industry Investment (FII), VNT Management and other shareholders have sold The Switch Engineering Oy to American Superconductor Corporation for €190m.
CCMP-backed Edwards to launch IPO
Edwards Group, a portfolio company of buyout and growth investor CCMP Capital Advisors, has announced its intention to list on the London Stock Exchange.
Gimv sells Scana Noliko to PinguinLutosa for €155m
Gimv has fully exited Belgian canned food producer Scana Noliko in a €155m trade sale to listed company PinguinLutosa.
Quantifying alpha
Alpha does indeed exist, and is strongest in private equity deals with active ownership; particularly when frequent interaction with - and even changing of - management is involved.
Diana and Axis exit GG
Diana Capital and Axis Participaciones have exited their stakes in Spain’s Grupo Guascor (GG), in a deal that values the diesel and gas engines supplier at €500m.
Investcorp sells Moody International for £450m
Investcorp has exited technical services group Moody International to trade buyer Intertek for £450m.
Duke Street to buy Wagamama for £215m
Duke Street is about to acquire UK fast-food chain Wagamama from Lion Capital for around £215m, according to media reports.
Corpfin sells Restauravia to AmRest
Corpfin Capital has sold its 76.3% stake in Spanish restaurant chain Restauravia Grupo Empresarial to Polish restaurant operator AmRest Holding.
Yoplait race narrows to six bidders
The sale process for PAI Partners's stake in French yoghurt maker Yoplait has narrowed to six candidates, according to media reports.
Multiple worries
According to the man on the street, multiples nowadays stand at around 7x EBITDA for assets, up to 9x if it’s a ‘quality asset’ (meaning it stands at 9x, since I know of no GP willing to admit he buys low-quality assets). This is down markedly from...
Apax and Bridgepoint team up again on CEP buyout
Apax Partners and Bridgepoint Capital are teaming up to buy French mortgage insurance services company Compagnie Européenne de Prévoyance (CEP) from PAI Partners, according to media reports.