Exits
GERMANY – STAR exits BUS Group for EUR 330m
STAR Capital Partners Limited has sold its stake in recycling business BUS Group to trade buyer Befesa Medio Ambiente SA for EUR 330m. The transaction represents the third exit from the financial investor’s STAR 1 Fund.
ROMANIA – GED sells its stake in Continental Hotels
Spanish private equity management company GED has sold its 20.11% equity stake in Romanian hotel chain Continental Hotels to the current management, RED Group.
DENMARK - 3i sells Damcos
3i and funds managed by 3i have signed an agreement to sell its 60% stake in Damcos, a global supplier to the shipbuilding industry, to Emerson Electric Co. The value for 100% of the company is approximately EUR 162m.
UK - ECI Partners sells Kirker Travel to Kuoni
ECI Partners, has sold Kirker Travel to Kuoni for an undisclosed amount. Kirker is an independent provider of luxury holidays, offering tailor-made itineraries for holidays across 150 destinations in Europe, Africa, the Middle East, the Far-East and New...
GERMANY – Biofrontera to float eventually
Having withdrawn at the last minute from an IPO on the Prime Standard in July this year, Biofrontera is set to float on 30 October on the Düsseldorf Stock Exchange. DZ Bank has been appointed to place the previously privately placed 443,514 shares.
GERMANY – Cold reception for Liponova
Biotechnology company Liponova has floated on the Entry Standard below its issue price of EUR 30. VEM Aktienbank placed the 250,000 shares as part of a capital increase. Trading opened this morning on EUR 27.40.
GERMANY – Strong debut for Delticom
Tyre e-commerce company Delticom has floated successfully on the Frankfurt Prime Standard. With a first listing at EUR 37 per share, the 1.13m listed shares exceeded the initial issue price of EUR 36. Around three quarters of the listed shares are part...
UK - Primary sells Rhyme Systems to 3i-Infotech for £28m
Primary Capital has exited management software solutions company Rhyme Systems. The business has been acquired by 3i-Infotech Ltd, a global provider of IT solutions listed on the Bombay Stock Exchange, in a deal valued at ТЃ28m. The exit represents a...
GERMANY - Delticom to float tomorrow
German tyre e-commerce company Delticom is expected to raise up to EUR 38m in an IPO on the German Prime Standard on 26 October 2006. If 850,000 shares float as expected in the middle of the EUR 33 – 45 book-building range, the company will be valued...
GERMANY- Wilex to float mid-November
Munich-based biotechnology company Wilex is planning to float on the Frankfurt Prime Standard on 13 November. The listing, offering up to 4.6m shares, will be led by WestLB and Sal Oppenheim with an offer price to be announced on 6 November.
SWITZERLAND - Santhera to list on Swiss Stock Exchange
Swiss speciality pharmaceuticals firm Santhera has announced that it will list up to 983,859 shares on the Swiss Stock Exchange. Assuming that the IPO is successful this will raise approximately SFr 83.6m-SFr 98.4m, excluding an over-allotment option....
UK - Bridgepoint to exit Tilney?
Market sources suggest that Deutsche Bank is in talks with asset management company Tilney. Tilney was acquired by Bridgepoint in 2005 in a deal thought to be worth approximately ТЃ100m.
GERMANY – 3i floats Nanogate
Europe's largest listed private equity firm, 3i, has successfully floated Nanogate AG on the Entry Standard of the Frankfurt Stock Exchange. 3i first invested in Nanogate in 1998, when it backed the spin-off from the University of Saarbrücken.
UK - ABN AMRO Capital exits Page Group Ltd
Page Group Ltd, the company which designs and manufactures aerospace lighting and cockpit controls, has been acquired by Hamilton Sundstrand, a subsidiary of United Technologies Corporation. The deal, the details of which are not disclosed, represents...
UK - Cognetas Sells BWG to management for EUR 390m
Cognetas, (formerly known as Electra Partners Europe), has announced the sale of BWG to the companyтs management for EUR 390m. Cognetas acquired the BWG operations from Pernod Ricard in 2002 for EUR 220m along with a majority stake in Newhill, owner of...
GERMANY - Hellman & Friedman to off-load Springer shares
Hellman & Friedman has notified the management board of Axel Springer AG that it is considering a placement of approximately 10% of Axel Springer shares. A precondition for the placement will be a sufficiently attractive capital market environment. Springer...
AUSTRIA - Doughty Hanson sells IZD Tower to Matrix
Doughty Hanson & Co Real Estate has sold the IZD Tower in Vienna to Matrix Property Fund Management for EUR 247m. The building is a 30-storey landmark, comprising 63,400 square metres of office space with 1,250 underground parking spaces, adjacent to...
UK - Plant Impact listed on AIM
Plant Impact Plc, a company backed by the RisingStars Growth Fund which is managed by Enterprise Ventures, has been admitted to AIM. The placing at the start of the first day of trading was 38p per share, giving a market capitalisation of approximately...
UK - CBPE sells Minova for £357m
Close Brothers Private Equity has sold speciality chemicals manufacturer Minova for ТЃ357m to Orica Ltd, an Australian quoted company. Minova's products are used in the coal mining, metal mining and tunnelling industries.
SPAIN - 3i and Lar to exit Ballesol
Insurance group Santa Lucía is reported to be in advanced negotiations to join the shareholding structure of Ballesol, one of the Spanish market leaders for elderly homes. Ballesol's shareholders, real estate group Lar and 3i, have expressed their intention...
UK - Aberdeen Asset Managers recapitalises Plaxton
Aberdeen Asset Managers Private Equity has recapitalised portfolio company Plaxton, the UK's leading manufacturer of luxury coaches and buses. This transaction gives the business a solid platform from which to increase its recently launched bus models...
NL - Wavin IPO receives lacklustre response
The flotation of Dutch pipe manufacturer Wavin by CVC and AlpInvest has raised substantially less than targeted. With shares priced at EUR 11m, the bottom of the EUR 11-13.50 range, the flotation raised EUR 371m, substantially less than the EUR 641m it...
SPAIN - 3i considering sale of Provimar
3i is reportedly negotiating the sale of portfolio company Provimar to restaurant business Grupo Arturo for EUR 18m. Provimar specialises in services to ships and duty free stores.
FRANCE - Astorg makes 3.3x on CIS sale
Astorg Partners has sold its entire interest in utility meters installation, management and maintenance business CIS to Ista International GmbH. The sale, which generated an IRR of about 80% and a money multiple of 3.3x for Astorg, values the company...