Exits
SPAIN - Diana Capital pockets 36% IRR with Grupo Recyde sale
Diana Capital has completed its first exit by selling its automotive component, a 23% interest Grupo Recyde, to sector player Cie Automotive for EUR 19m.
SPAIN - Highgrowth makes 1.6x return with Dimat sale
Highgrowth Partners has sold the 32.65% stake it held in communications and networking solutions company Dimat SL. The company designs and manufactures communication and networking solutions for the international power utilities market.
UK - 3i splits NCP with sale to Macquarie
3i has demerged portfolio business National Car Parks into two separate entities. The car parking operating side has been acquired by Macquarie European Infrastructure Fund II in a ТЃ790m transaction. Meanwhile, 3i will retain NCP Services, an outsourced...
NL- Esprit Capital Partners sells NetEconomy to Fiserv
Esprit Capital Partners has sold NetEconomy, a provider of information technology services to the financial industry, to Fiserv for an undisclosed consideration.
UK - CD & R to sell Brakes
Brakes, the food distributor held by Clayton Dubilier & Rice is to be sold with a sales memorandum anticipated in the next few days.
UK - Montagu exits Cory in £588m deal to ABN AMRO Infrastructure
Montagu Private Equity has sold waste management company Cory Environmental Holdings to a consortium led by ABN AMRO Infrastructure Capital for ТЃ588m. The sale through acquisition vehicle Viking Consortium Holdings Ltd enables Montagu to exit following...
GERMANY - Veronis Suhler Stevenson sells Berliner Verlag
US private equity house Veronis Suhler Stevenson has sold its stake in Berliner Verlag to minority shareholder Mecom Group plc for reportedly EUR 320m. The financial investor had acquired majority holding alongside Mecom in October 2005 from the Stuttgart-based...
UK - Quester exits Oxxon Therapeutics
Quester-backed biopharmaceutical company Oxxon Therapeutics has been acquired by London Stock Exchange-listed Oxford BioMedica Plc for ТЃ16m. The sale to Oxford BioMedica, a company previously backed by Prelude Trust before being floated, represents a...
SPAIN - BPEP makes 4.6x on Euroatomizado
Baring Private Equity Partners Spain has divested its stake in Euroatomizado.
UK - Barclays Ventures generates 3.5x return on fire services exit
Barclays Ventures and management have sold SFS Fire Services Limited to UTC Fire & Security, a business unit of US-based United Technologies Corporation. Although the enterprise value of the company was not disclosed, the exit enabled Barclays Ventures...
FRANCE - AtriA sells Clextral to Legris Industries
AtriA Capital Partenaires has sold its 43% stake in extrusion equipment manufacturer Clextral, to Chequers-backed Legris Indutries.
SWEDEN - Vision Capital sells Cerbo to Nolato for £32m
Vision Capital has sold pharmaceutial primary and secondary packaging business Cerbo Group AB, to Swedish polymer manufacturing group Nolato, for SEK 437m (£32m).
FRANCE - Emertec generates at least 88% IRR and >3x on latest sale
Grenoble-based Emertec Gestion has generated an IRR of 88% and a money multiple in excess of 3x, following the sale of Eco Alternative to a large industrial company.
FRANCE - Barclays Private Equity sells Laho to Loxam
Barclays Private Equity has sold construction equipment rental business, acquired in a tertiary buyout in 2005, to Loxam, the market leader in this sector, itself the subject of three successive buyouts.
FRANCE - Edmond de Rothschild Capital Partners makes over 3x from Bonpoint sale
Edmond de Rothschild Capital Partners (ERCP) has generated a money multiple of more than 3x from the sale of luxury children's wear brand Bonpoint to EPI, the investment holding of the Descours family, six months after a EUR 24m refinancing allowed the...
UK - Bridgepoint exits ethnic food supplier WT Foods
Bridgepoint has sold ethnic and speciality foods supplier WT (Holdings) Ltd Group to GraceKennedy Ltd. Jamaica-listed GraceKennedy is the third largest company in the Carribbean with interests in food, retail, distribution and banking. The returns the...
SPAIN - Nazca to sell its tapas restaurant chain
Spanish press reports suggest that private equity firm Nazca is to sell Lizarran Tapas Selectas, its tapas restaurant business, to sector player Comess Group.
UK - Dunedin completes two full exits
Dunedin has fully realised its investment in two portfolio companies generating returns of 4.3x from asset-based lender Davenham and 3.6x from business travel group Portman.
UK - Investcorp to recoup £150m on 10-year Welcome Break investment
Investcorp is to receive a payout of ТЃ150m from its portfolio company Welcome Break. The realisation follows a ТЃ300m recapitalisation that values the motorway service company at approximately ТЃ500m.
UK - CBPE sells Gradus to BOSIF in £41m secondary buyout
Close Brothers Private Equity has sold contract interior company Gradus Ltd for ТЃ41m. CBPE generated a 3.1x return on its investment and an IRR of 28% on its five year ownership of the company. The business has been acquired by its management team with...
UK - General Atlantic Partners to float Xchanging
General Atlantic Partners is considering an IPO of outsourcing and processing portfolio company Xchanging. The asset could fetch up to ТЃ500m on the London Stock Exchange, with General Atlantic expected to continue to hold a stake in it.
FRANCE - Rexel begins IPO process
Private equity-backed electrical equipment manufacturer Rexel yesterday applied for listing with the Authorité de Marchés Financiers, just over two years after it was de-listed by Eurazeo.
UK - Bridges Community Ventures makes third successful exit
Bridges Community Ventures has sold its stake in vehicle spare parts distributor HS Atec Ltd back to management. The exit has generated returns of over 2x and an IRR of 28.7% and represents a third successful exit for the community development-focused...
DENMARK - Nordic Capital sells Dangaard to Brightpoint
Nordic Capital has agreed to sell wireless handset distributor Dangaard Telecom A/S to Nasdaq-listed Brightpoint Inc.