Exits
UK - New Look IPO off
Rumours that Apax and Permira were going to float portfolio company New Look were unfounded. The high street fashion retailer looks set to change private equity hands, with Merrill Lynch appointed to run an auction. KKR, CVC and Texas Pacific Group are...
FINLAND - Eqvitec exits Secgo Software
Eqvitec Technology Fund I has sold its 18% holding in Secgo Software, a Finnish information security and mobility management software company, to Birdstep Technology ASA for EUR 9.2m. Eqvitec invested in Secgo in the company's spin-off from Secgo Group...
UK - Rhone Capital exits Early Learning Centre after acquisition by Mothercare
Chelsea Stores, the owner of the Early Learning Centre children's toys retailer, has been acquired by Mothercare for £85m in cash and shares. The deal represents an exit for Rhone Capital, a private equity player which participated in the consortium...
HUNGARY - GMT and MidEuropa complete sale of Invitel
Mid Europa Partners, GMT Communications Partners today announced the completion of the sale of fixed telecommunications services provider Invitel to Hungarian Telephone & Cable Corp for a total consideration of EUR 470m. The agreement to sell Invitel...
GERMANY - Tough first day for listed Versatel
Apax Partners portfolio company Versatel AG has listed on the Frankfurt Prime Standard. The company placed approximately 28.5 million shares at an issue price of EUR 29 per share, raising a gross amount of approximately EUR 830m. The issue price was at...
GERMANY - Apax and Blackstone sell Sulo Group
Apax Partners and Blackstone Group have sold waste management company Sulo Group for EUR 1.45bn to French Group Veolia Environnement. The financial investors each acquired a 50% stake in the company in January 2004.
GERMANY - Springwater Capital exits M+W Zander Group
Springwater Capital has fully exited its 72.89% stake in Stuttgart-based technology group M+W Zander to AIM-listed hedge funds group Absolute Capital Management Holdings Ltd (ACM). The transaction had been carried out in two phases. In February 2007,...
UK - Matrix sells Maven to Munro Global
Matrix has realised its investment in market research agency Maven through a sale of the business to Munro Global. The value of the deal was not disclosed, although Matrix reported that it was "a very satisfactory and profitable exit".
GERMANY - Versatel to float tomorrow
Apax Partners is listing its portfolio company Versatel AG on the Frankfurt Prime Standard on Friday 27 April. The company is issuing up to 28.577 million shares with a subscription price set at EUR 29-36 per share. The IPO is expected to generate up...
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 £57m 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 £6m. The deal has generated returns of 3x its money for Aberdeen and an IRR of over 80%. Aberdeen invested £550,000...
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...
UK - Barclays Ventures reaps 8x returns from Bifold Fluid exit
Barclays Ventures has reaped returns of 8x and an IRR in excess of 60% on its investment in Bifold Fluid Power. The hydraulic pump valve manufacturer has been sold to Bank of Scotland Integrated Finance in a £35m secondary buyout.
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 £10.45m.
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 £500m 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.
GERMANY - DZ Equity Partner sells Morgen & Morgen
DZ Equity Partner has exited its stake in Morgen & Morgen-Gruppe to the management. The transaction value has not been disclosed and CEO Joachim Geiberger will wholly acquire the company.
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 £12.9m.