Exits
UK - Dunedin to sell Fernau in £32m deal
Dunedin is finalising a £32m sale of navigation equipment manufacturer Fernau Avionic to US-based aircraft control systems manufacturer Moog Inc, in a deal that would reap a 3.2x money multiple on the investment.
GLOBAL - Lehman sells venture capital arm
Lehman Brothers has fully divested its US-based venture capital arm Lehman Brothers Venture Partners through a sale to the current management team, backed by HarbourVest Partners.
UK - Inflexion reaps 1.5x money from sale of CHKS
Inflexion Private Equity has wholly exited healthcare performance benchmarking specialist CHKS Limited in a trade sale to Capita Group Plc, generating returns of more than 1.5x the investment. Capita cites the price tag for the deal as £11.6m.
AUSTRIA - Pontis- and uni-backed Alumonte files for insolvency
Pontis Venture and uni venture-backed ALUmonte Technologiefortschritt in Aluminium GmbH has filed for insolvency.
UK - Golden Gate sells stake in Micro Focus
Reports suggest that Golden Gate Capital is to sell its 22.3% stake in business software developer Micro Focus International Plc, in a deal that is thought to be worth approximately £117.1m.
SPAIN - N+1 reaps 2x returns from Atecsa sale
N+1, alongside its listed vehicle Dinamia, has wholly exited its stake in vehicle inspection business Atecsa through a trade sale to Ahorro Corporación subsidiary Henri Inversiones 2008 SL in a deal valued at EUR 27.8m, generating returns of 2x the money...
GLOBAL - TPG sale talks collapse
US private equity house TPG Capital has, according to reports, broken off talks to sell a stake of the firm to investors.
NETHERLANDS - DSM Special Products sale to Arsenal falls through
The sale of chemicals business DSM Special Products BV to US-based Arsenal Capital Partners will not be completed due to provisions imposed by the European Commission. The deal was originally announced on 3 March 2008.
GERMANY - Carlyle-backed Edscha files for insolvency
The Carlyle Group's portfolio company Edscha has filed for insolvency.
UK - Lyceum exits SPI Group
Lyceum Capital has exited SPI Group, a building services company.
SWEDEN - 3i divests DIAB stake to Ratos in SEK 400m deal
3i has sold its 48% stake in core materials manufacturer DIAB Group AB to co-investor Ratos in a deal valued at approximately SEK 400m.
GERMANY - Nova exits nuclitec GmbH
Direct secondaries specialist Nova Capital Management has sold German radioactive products supplier nuclitec GmbH, along with its French and US based sister companies nuclitec sarl and nuclitec Inc, in a trade sale to Eckert & Ziegler Strahlen-und Medizintechnik...
BELGIUM - Siparex exits stake in Guillaume Teco
Siparex has exited its holding in electrical parts company Guillaume Teco to BV Capital Partners.
UK - LCA-backed Living Villages enters administration
Living Villages Holdings Limited, a construction company specialising in low carbon properties backed by Low Carbon Accelerator (LCA), is being put into adminsitration.
GERMANY - S-Refit sells DRONCO stake
S-Refit AG has sold its stake in abrasives company DRONCO AG to the wife of the firm's majority shareholder and CEO for an undisclosed sum.
UK - EV reaps 142% IRR from H2O exit
North of England-focused investor group Enterprise Ventures (EV) has wholly exited its stake in fibre optics business H2O Networks in a management buy-back, achieving returns of 3.6x cost and an IRR of 142% over the course of the investment.
FRANCE - Argos Soditic sells Jaybeam Wireless
Argos Soditic has sold Jaybeam Wireless, a manufacturer of cellular antennas for wireless telecommunications, to US-based connectors specialist Amphenol.
FRANCE - Actem Partners exits Datavance
Actem Partners has sold its minority stake in Datavance, an IT services firm, to Adecco. Founders Stephane Lévy and Eric Rozanes retain a stake and remain with the company.
GERMANY - HTGF partially exits InterMed Discovery
High-Tech Gründerfonds (HTGF) has sold a significant part of its interest in natural product lead-discovery company InterMed Discovery GmbH to Malaysian Life Science company Biotropics Malaysia Berhad, achieving a high single-digit multiple.
UK - Nova exits aia
Nova Capital Management has exited its investment in recruitment agency aia in a sale to TMP Worldwide Advertising & Communications in New York.
AUSTRIA - Global Equity Partners sells I&T GmbH
Global Equity Partners has sold its stake in automotive components I&T GmbH in a secondary management buyout for an undisclosed sum.
BELGIUM - Wellington et al. sell Q-Layer to Sun Microsystems
Wellington Partners, Partech and Big Bang Ventures-backed software developer Q-layer has been acquired by US IT firm Sun Microsystem.