Exits
SWEDEN - Segulah sells Callenberg Group
Segulah has sold Callenberg Group, a Swedish marine engineering company, to Norwegian Wilhelmsen Maritime Services Group, which is a part of Wilh. Wilhelmsen, an international maritime industrial group. The financial terms have not been disclosed.
UK - NVM realises 2.9x from divestment of KCS
NVM Private Equity has sold its stake in payroll software business KCS Global Holdings Ltd realising returns of 2.9x and an IRR of over 50% per annum on its two year investment. KCS was acquired by Sage, the management software provider, for £20m.
UK - Catapult exits Transvisual Media
Catapult Venture Managers has wholly exited its stake in security system software and hardware company Transvisual Media Ltd (TVM) in a trade sale to Soncell Ltd, a manufacturing subsidiary of Bowmer and Kirkland Ltd, for an undisclosed sum.
CEE - Enterprise Investors sells Romanian supermarket chain to Carrefour
Enterprise Investors ’ Polish Enterprise Fund V has sold 100% of Romanian retail chain Artima to French retailer Carrefour. The transaction valued the company at EUR 55m, which represents an investment multiple of more than 3x. The transaction will...
UK - BOSIF sees 2.9x return from Beck & Pollitzer
Bank of Scotland Integrated Finance has realised its investment in Beck & Pollitzer Ltd, achieving an overall equity return of 2.9x times funds invested, equating to a realised equity IRR of 48%.
SWITZERLAND - 3i floats u-blox on Swiss Stock Exchange
3i has floated portfolio company u-blox at an issue price of CHF 51 on the Swiss Stock Exchange. The total value of the offering was approximately CHF135.6m. Based on the issue price u-blox has a market capitalisation of approximately CHF 318.4m.
UK - ISIS generates 69.5% IRR from £15.7m Bolden sale
ISIS Equity Partners (ISIS) has wholly exited its stake in communications software provider Bolden James Holdings Ltd in a sale to QinetiQ Group Plc for a cash consideration of £15.7m, generating an IRR of 69.5% and a 3.11x return on its investment.
FRANCE - Wendel recoups EUR 1bn+ from Bureau Veritas IPO
Wendel has recouped over EUR 1bn from the listing of inspection and certification business Bureau Veritas. The investor has sold down approximately one third of its shares in the company through the IPO, generating an IRR of 46% on its partial realisation.
UK - 3i and Oak Hill-backed Telecity to float
3i and Oak Hill Investors are listing data centre operator Telecity Group on the main market of the London Stock Exchange. The IPO is pricing Telecity shares at 220p each, representing a market capitalisation of £436m. The flotation of Telecity follows...
CEE - Europa Capital sells City Point Distribution Park to Morley for EUR 71.6m
Europa Capital has sold City Point Distribution Park to Morley's Central European Industrial Fund (CEIF) for EUR 71.6m.
SWEDEN - Segulah floats HMS
Segulah has listed HMS Networks, a Swedish industrial communication company, on the OMX Nordic Exchange for SEK 74 per share. The investor will sold down its shareholding at the time of the listing. Shares in HMS started to trade on 19 October. Segulah...
FRANCE - End in sight for Carlyle's Otor misadventure
After more than seven years of trials and tribulations, Carlyle has reportedly mandated Deutsche Bank to sell cardboard maker Otor.
SWITZERLAND – CapD exits BestinClass to Richemont
CapD Private Equity Partners has sold micro-machining company BestinClass for an undisclosed sum to Compagnie Financiere Richemont.
UK - Octopus and Foresight see 4.4x return on Covion exit
Octopus Private Equity and Foresight Group have seen a 4.4x return from the sale of facilities infrastructure service business Covion. Trade buyer Balfour Beatty Group Ltd acquired Covion for £33m ending Octopus and Foresight's two year ownership of...
SPAIN - Corpfin sells its stake in Futura
UK-based fund Hutton Collins and the management team of charter airline Futura have purchased Corpfin Capital's majority stake in the business. It is understood that the company's founder Air Lingus is also selling its shareholding.
SPAIN - Codere to float on 25 October
Gambling business Codere has received approval for its IPO from regulator CNMV. It is understood that the business will float a 25% stake. The price, to be set on 23 October, is expected to be set at around EUR 21-26 per share, valuing Codere at approximately...
ITALY - Piquadro to float up to 30.4% in IPO
Leather goods manufacturer Piquadro is to sell a stake of up to 30.4% in an IPO on the Milan Stock Exchange. It is understood the transaction will value the business at a maximum price of EUR 115m.
SPAIN - Holmes Place still looking for a buyer
The Iberian business of Holmes Place is yet to find a buyer. Holmes Place-backers Mercapital, N+1/Dinamia and Portuguese fund Explorer had originally looked to sell the business during the summer.
NORWAY - Ferd lists Pronova BioPharma with market-cap of NOK 6.9bn
Ferd Private Equity (FPE I) has listed Pronova BioPharma (previously Pronova Biocare), a Norwegian manufacturer of Omega-3 pharmaceutical products, on the Oslo Stock Exchange for an offer price of NOK 23 per share. The total offer size is NOK 2.7bn (including...
UK - Katalyst-backed E-Therapeutics to float on AIM
Drug discovery company E-Therapeutics is planning a flotation on AIM later this month. The Newcastle-based company, which counts new therapy candidates in 11 clinical areas including MRSA, asthma and diabetes amongst its portfolio, is backed by Katalyst...
UK - Sovereign reaps 11.9x return from veterinary services exit
Sovereign Capital has reaped 11.9x its money through the flotation of veterinary services consolidator CVS Group on AIM. The IPO gave CVS a market capitalisation of £105.7m.
UK - Graphite trebles its money on Applied Energy exit
Graphite Capital has wholly exited its stake in ventilation, heating and water heating products manufacturer Applied Energy in a trade sale to Glen Dimplex. Graphite is understood to have trebled its money through the exit, the value of which was undisclosed.
UK - Phoenix-backed Gaucho planning IPO
Phoenix Equity Partners portfolio company Gaucho is scheduled to list next month. The restaurant chain has been owned by Phoenix since August 2006 when it bought it as part of a £55m secondary buyout from Barclays Private Equity. It is anticipated that...
UK - IPO of TA Associates-backed SmartStream pulled
The flotation of SmartStream Technologies, a provider of software to banks, has been abandoned for now. TA Associates acquired SmartStream from 3i in September last year. The IPO had wobbled in previous weeks when market turbulence forced its price to...