Exits

NL - DocMorris sold to Celesio

3i, HgCapital and Neuhaus Partners have fully exited their stakes in mail order pharmacy to Celesio AG. The transaction value has not been disclosed. The management team will remain invested in the company holding an approximate 10% stake.

UK - 3i sees 3x return from Smart & Cook exit

3i has sold its stake in commercial brokers Smart & Cook via a sale of the company to AXA UK Plc. The deal has generated 3x returns for the investor which backed the company in a ТЃ57m buyout in 2004.

UK - Aberdeen exits ABZ Group returning 3x money

Aberdeen Asset Managers Growth Capital has sold its interest in air conditioning company ABZ Group to Sovereign Oilfield Group Plc for ТЃ6m. The deal has generated returns of 3x its money for Aberdeen and an IRR of over 80%. Aberdeen invested ТЃ550,000...

UK - Blackstone to float Cineworld

Blackstone is to float Cineworld. The investor had originally planned an IPO of the 72-strong cinema chain eleven months ago but shelved plans due to stock market volatility. The indicative price range has been set at 155-185p which will value the company...

GERMANY - DZ Equity Partner exits KUMAgroup

DZ Equity Partner has sold its stake in German IT solutions provider KUMAgroup to WaBeKu GmbH. The transaction value has not been disclosed. The financial investor had acquired the stake at the end of 1998 from the company’s founders.

UK- ECI sells Anix IT

ECI Partners has sold Anix IT, a reseller of storage hardware and software solutions to Xploite plc for ТЃ10.45m.

FRANCE - Apax-led syndicate sells Cartesis to Business Objects

Apax Partners, Advent Ventures Partners, Caisse des Dépots et Placements du Québec and Partech International have sold their interests in finance and performance management software developer Cartesis, to business intelligence solutions provider Business...

NORWAY - Cubera sells Marratech to Google

Cubera Secondary has sold Marratech to Google for an undisclosed sum, but the IRR is claimed to be "very satisfactory". Marratech is one of the 11 companies that Cubera has had in their portfolio since acquiring the Aumar portfolio form Sjätte AP Fonden....

FINLAND - CapMan exits Synerco

CapMan has exited from Synerco, the Swedish provider of integrated facility, security and office services. Capman will sell its stake to Service Management company Addici Holding AB, supported by its major private equity investor Argan Capital.

UK - General Atlantic to float Xchanging valuing it at £500m

General Atlantic is to float portfolio company Xchanging, an outsourcing and processing portfolio company. The IPO is expected to value the group at approximately ТЃ500m with an indicative share price range of 210-240p per share. It is understood that...

AUSTRIA - capiton exits Trenkwalder Personaldienste

caption AG has sold its stake in temporary staffing company Trenkwalder Personaldienste AG to the Trenkwalder Private Foundation. The transaction value has not been disclosed. caption had acquired a minority stake in Trenkwalder at the beginning of 2003....

NL - CVC and AlpInvest exit entire shareholding in Wavin

Wavin, a provider of plastic pipe systems and solutions, has announced that CVC and AlpInvest have sold their entire shareholding in the company in a block trade to ABN AMRO Rothschild and Fortis Bank. The transaction represents approximately 45.65%...

UK - Apax-backed Travelex disposes of ATMs in £12.9m deal

Travelex, the non-bank provider of commercial foreign exchange owned by Apax Partners with Standard Chartered Bank is to dispose of its 1,070 surcharging ATMs. The ATMs will be acquired by AIM-listed Cardpoint Plc for a cash consideration of ТЃ12.9m....

UK - Hotbed exit from nursing home company generates 31% IRR

Hotbed has achieved an IRR of 31% from an exit from nursing home group Mimosa Healthcare Holdings Ltd. Hotbed has sold its 25% stake in the company, which it acquired in 2005 following a ТЃ5.15m investment in two tranches, back to the company and its...

UK - Barclays Ventures refinances Original Additions

Barclays Ventures has refinanced branded beauty products business Original Additions via a ТЃ13m debt package from RBS. The refinance which has repaid all of Barclays Ventures' original funding has also delivered a 31% IRR for the institution. Barclays...

UK - Duke Street refinances Accantia with £120m package

Duke Street Capital has completed the refinancing of portfolio company Accantia Health & Beauty Ltd in a package worth up to ТЃ120m. The recapitalisation of the company behind the Simple skincare brand comes just four months after DSC sold Lil-lets, the...

UK - LDC reaps 78% IRR from PJH Group exit

LDC has exited kitchen and bathroom distributor PJH Group through a sale of the business to Globe Union, a Taiwanese-listed designer, manufacturer and supplier of kitchen and bathroom products. The deal has returned 2.8x LDC's investment equivalent to...

GERMANY– Odewald and Bain sell 2D to Quadriga

Following a three year holding period, Odewald and Bain Capital have sold their investment in German decorative papers printer 2D Holding to Quadriga Capital. 2D is a global printing and treating specialist for decorative paper for flooring and furniture...

CEE – Innova sells Polcard

Central and East European investor Innova Capital has sold its remaining stake in Polish banking card company Polcard in a EUR 243m sale to First Data International, an e-commerce provider. Innova held a 25.24% stake in the company, strategic co-investor...

UK - Sovereign makes 260% IRR on Claims Management exit

Sovereign Capital has reaped a 3.3x equivalent to an IRR of 260% on its exit from CMGL Group Ltd. The specialist provider of outsourced claims and insurance management services company has been acquired by The Capita Group Plc for ТЃ32m.