Exits
US - Blackstone files for IPO
The Blackstone Group has filed for a partial flotation, in a move which could value it at up to $40bn. The firm filed to raise $4bn in a 221-page public offering prospectus, revealing interesting insights into its accounts in the process. Blackstone...
ITALY - 3i to float Giochi Preziosi in 15 months
According to Italian press reports, toy manufacturer Giochi Preziosi is to list in the Milan Stock Exchange before the end of H1 2008.
UK – ABN Amro makes 47% IRR on £438m Park Resorts sale to GI Partners
ABN Amro Capital has yielded a 47% IRR and money multiple of 2.4x on the sale of UK caravan park business Park Resorts Group to GI Partners for £438m. ABN Amro acquired GB Holiday Parks in November 2004 for £105m and only a month later bolted on Park...
FRANCE - Rexel launches EUR 1.015bn IPO
Private equity-backed electrical equipment distributor Rexel has submitted details of its planned IPO to the French financial market authorities.
ITALY - Argan and Merrill Lynch considering N&W flotation
Press reports suggest that Argan Capital and Merrill Lynch are considering the IPO of its vending machine interest N&W Global Vending this year.
CEE – Royalton generates 3.6x money multiple on sale of Ella Bank
Dedicated Central and Eastern European investor Royalton Capital Investors has sold its entire stake in Ella Bank to generate a return of 3.6x money invested and an IRR of 39%. The Hungarian retail bank was sold by Royalton and EDHI to AXA Holdings Belgium....
GERMANY - Emerald Technology Ventures makes two exits
Emerald Technology Ventures, formerly SAM Private Equity, has exited two separate investments in German clean technology companies. The financial investor recently divested its remaining holding in Schmack Biogas, nine months after the company’s IPO...
GERMANY - Vita 34 to float end of March
SHS Gesellschaft für Beteiligungsmanagement mbH, has announced it will float its portfolio company Vita 34 International AG on the Prime Standard in Frankfurt on 27 March. Concord Effekten has been appointed as lead manager and Deutsche Apotheker –...
UK - CBPE exits UTI
Close Brothers Private Equity has announced the sale of United Transport International Limited to InterBulk Investments plc for £80m. The transaction is CBPE's third realisation in 5 months, its previous one being the EUR 311m sale of Moody International...
UK/IRELAND - Madison Dearborn, CVC and Cinven in partial exit from Smurfit Kappa through IPO
Madison Dearborn Partners, CVC and Cinven are to reduce their combined stake in cardboard box manufacturer Smurfit Kappa following a joint listing on the London and Dublin Stock Exchanges. The pricing of the shares in the grey market ahead of the official...
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 £790m 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 £588m. 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 £16m. 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.