Exits
FRANCE - Edmond de Rothschild Capital Partners makes over 3x from Bonpoint sale
Edmond de Rothschild Capital Partners (ERCP) has generated a money multiple of more than 3x from the sale of luxury children's wear brand Bonpoint to EPI, the investment holding of the Descours family, six months after a EUR 24m refinancing allowed the...
UK - Bridgepoint exits ethnic food supplier WT Foods
Bridgepoint has sold ethnic and speciality foods supplier WT (Holdings) Ltd Group to GraceKennedy Ltd. Jamaica-listed GraceKennedy is the third largest company in the Carribbean with interests in food, retail, distribution and banking. The returns the...
SPAIN - Nazca to sell its tapas restaurant chain
Spanish press reports suggest that private equity firm Nazca is to sell Lizarran Tapas Selectas, its tapas restaurant business, to sector player Comess Group.
UK - Octopus generates 98% IRR on exit from clinical trials recruitment company
Octopus Investments has sold clinical trials recruitment business James Harvard International, and James Harvard Japan to Hays Plc. Hays has paid £24m initial cash consideration, with a further earn-out estimated to be £19m over three years. This exit...
UK - Dunedin completes two full exits
Dunedin has fully realised its investment in two portfolio companies generating returns of 4.3x from asset-based lender Davenham and 3.6x from business travel group Portman.
UK - Investcorp to recoup £150m on 10-year Welcome Break investment
Investcorp is to receive a payout of £150m from its portfolio company Welcome Break. The realisation follows a £300m recapitalisation that values the motorway service company at approximately £500m.
UK - CBPE sells Gradus to BOSIF in £41m secondary buyout
Close Brothers Private Equity has sold contract interior company Gradus Ltd for £41m. CBPE generated a 3.1x return on its investment and an IRR of 28% on its five year ownership of the company. The business has been acquired by its management team with...
UK - General Atlantic Partners to float Xchanging
General Atlantic Partners is considering an IPO of outsourcing and processing portfolio company Xchanging. The asset could fetch up to £500m on the London Stock Exchange, with General Atlantic expected to continue to hold a stake in it.
FRANCE - Rexel begins IPO process
Private equity-backed electrical equipment manufacturer Rexel yesterday applied for listing with the Authorité de Marchés Financiers, just over two years after it was de-listed by Eurazeo.
UK - Bridges Community Ventures makes third successful exit
Bridges Community Ventures has sold its stake in vehicle spare parts distributor HS Atec Ltd back to management. The exit has generated returns of over 2x and an IRR of 28.7% and represents a third successful exit for the community development-focused...
DENMARK - Nordic Capital sells Dangaard to Brightpoint
Nordic Capital has agreed to sell wireless handset distributor Dangaard Telecom A/S to Nasdaq-listed Brightpoint Inc.
FRANCE - Neuf Cegetal buys venture-backed Erenis
French telecom business Neuf Cegetal announced today it had agreed to acquire Erenis, a telephony and internet services provider backed by Iris Capital, AGF Private Equity, Credit Agricole Private Equity, Net Partner and CDC.
UK - Porton Capital portfolio company Acolyte Biomedica sold to 3M
Porton Capital has sold Acolyte Biomedica, a developer of technology to combat hospital acquired infections to 3M. Porton Capital first invested in Acolyte in 2004, participating in a £3.7m expansion round. In 2002, BioProjects International led a £2.6m...
IRELAND - Private equity backed-Smurfit Kappa in EUR 1.3bn IPO
Paper and packaging company Smurfit Kappa is to be listed on the Irish Stock Exchange in a EUR 1.3bn IPO. The company is backed by Madison Dearborn Partners, which owns a 47% stake and CVC and Cinven which own 21% each.
ITALY - Permira and Private Equity Partners exit Marazzi Group
Permira and Private Equity Partners have sold the 8.47% stake it had in tile business Marazzi. The shares were sold at the price of EUR 10.3 each.
UK - Carlyle to complete full exit from Qinetiq
The Carlyle Group is to dispose of its remaining 10.3% stake in Qinetiq, the former Ministry of Defence laboratories. Qinetiq was floated on the main market of the London Stock Exchange with a market capitalisation of £1.4bn in January 2006 at which...
UK - Bridgepoint to float Safestore
Bridgepoint is preparing a £700m IPO for Safestore, the self-storage company which has property assets of £475m. Bridgepoint has already realised £101m from Safestore through a £237m recapitalisation carried out by Royal Bank of Scotland and Merrill...
POLAND - FL Group sells Kentpol
FL Group, the private equity arm of Icelandic bank, has fully exited its investment in Polish soft drinks and mineral water company Kentpol to Refresco Holding for an undisclosed sum. Following the transaction, Kentpol will continue to produce under its...
GERMANY - Venture capitalists exit Xignal Technologies
Benchmark Capital Europe, Atila Ventures, BayTech Venture Capital and STAR Ventures have exited their stakes in German data converter developer Xignal Technologies via a sale to US-based National Semiconductor Corporation. The venture capitalists had...
UK - Bridgepoint- and LDC-backed Adams to avoid administration
Bridgepoint- and LDC-backed UK retailer Adams may have attracted a suitor that would save the retailer from administration, although the buyout houses are unlikely to generate any positive returns as a result.
UK - GIMV, 3i and Atlas exit biotechnology company via sale to AstraZeneca
London-based biotechnology company Arrow Therapeutics has been acquired by AstraZeneca in a $150m deal allowing previous investors GIMV, Atlas Venture, 3i, Alta Partners, ITX, Merlin BioMed Group, NIF, Northern Venture Managers, Scottish Widows Investment...
UK - ECI Partners makes 2.6x from Enviros exit
ECI Partners has sold Enviros, an environmental consultancy business, to Alfred McAlpine Plc for £30m. This represents a money multiple of over 2.6x ECI’s investment. ECI backed the £17m management buyout of Enviros in 2001. Enviros now boasts a blue...
SWEDEN - EQT sells HemoCue to Quest Diagnostics
EQT II BV has sold HemoCue, a point-of-care diagnostic testing company, to Quest Diagnostics.
NORWAY - Venture-backed Algeta applies for listing
Therapeutics company Algeta ASA has applied for listing on the Oslo Stock Exchange. The company raised NOK 185m in series-A financing from a consortium of investors, including HealthCap, Advent Venture Partners, SR One, and existing investors, Selvaag...