Exits

UK - Hellman and Friedman to float Gartmore for £1.5bn

It is reported that Hellman and Friedman is to float fund management company Gartmore. The US private equity group acquired Gartmore in a ТЃ550m buyout in June 2006 from Nationwide Mutual Insurance Company. According to sources, it is now seeking an IPO...

UK - Bridgepoint floats Norcros valuing it at £116m

Bridgepoint has floated portfolio company Norcros on the main market of the London Stock Exchange. The 78p per share listing price represents a market capitalisation of ТЃ116m. Bridgepoint has seen returns of 2x its original investment and retains a 6%...

SPAIN - Ibersuizas receives attractive offer for Alcasa

Private equity firm Ibersuizas is said to have received an attractive offer for its stake in Aluminio Catalán SA (Alcasa) from industrial player Abengoa. Rumour has it that the auction process, led by corporate finance boutique Atlas Capital, also involves...

SWITZERLAND - Madison Private Equity exits SimilorGroup

Madison Private Equity has sold Swiss sanitary faucets manufacturer SimilorGroup to the Spanish Roca Group. The transaction value has not been disclosed. Since 2002, Madison Private Equity had gradually increased its ownership in Similor from the founding...

UK - NBGI floats Superglass generating 10.7x returns

NBGI Private Equity has recouped 10.7x its investment through the IPO of Superglass on the London Stock Exchange. The listing enables NBGI to divest its 50.9% stake generating an IRR of 244% on its two year involvement with the glass wool insulation manufacturer....

SWEDEN - Litorina Kapital makes 4x on exit from SWE-DISH

Litorina Kapital has sold SWE-DISH Satellite Systems AB to Datapath Inc for $56m in cash. The deal has generated returns of 4x Litorina's investment. SWE-DISH is a supplier of mobile satellite communications equipment and related services for broadband...

BELGIUM/SWEDEN - EQT sells deSter to Gate Gourmet

EQT, through its funds EQT I and EQT III, has agreed to sell deSter Holdings B.V. to Gate Gourmet, a provider of airline catering and provisioning services. EQT-owned Duni AB, headquartered in Sweden, acquired deSter in 1999 and since then has substantially...

GLOBAL - KKR to float

KKR is to follow in the steps of its rival Blackstone by floating on the New York Stock Exchange. KKR filed an initial public offering registration with the SEC on Tuesday and will seek to raise $1.25bn in new capital from the flotation. However, unlike...

GERMANY – Steady debut for EQT's Tognum AG

Following the cold reception on its first day of listing on the Frankfurt Prime Standard on Monday 2 July, Tognum shares have now risen to almost EUR 25. Joint global coordinators and joint bookrunners, Deutsche Bank and Goldman Sachs were mandated to...

FINLAND - Amanda Capital capitalises EUR 2m on two exits

Amanda Kapital, the listed Finnish funds-of-funds, has generated EUR 2m on two exits from its portfolio. EQT IV has listed Togum, a manufacturer of diesel, on the Frankfurt Stock Exchange. And Charterhouse VII has sold its shares of Saga, a travel and...

FRANCE - Audika exit yields over 40% IRR

FPG-LFPI, CIC Finance and Socadif have made satisfactory returns from the sale of their convertible bonds in Holton, the holding controlling 54% of hearing aids distributor Audika.

ITALY - Cape Live Investment fund to float on 19 July

Cape Listed Investment Vehicle in Equity (Cape Live) is to list up to 40 million shares as part of a capital increase on the Milan Stock Exchange. Trading is expected to start on 19 July, at an issue price of EUR 1.05 per share. From 2 July to 13 July...