Exits
SWEDEN - Nordic Capital sells fitness club chain SATS
Nordic Capital Fund IV has entered into a binding agreement to divest fitness club chain SATS to Tryg i Danmark smba. Tryg i Danmark smba invests in companies within the healthcare and security sector. The completion of the transaction is subject to approval...
FINLAND/UK - BioFund exits Ark Therapeutics
BioFund Management Oy has sold all shares of Ark Therapeutics Group Plc, a biopharmaceutical company based in Finland and the UK. Bio Fund Ventures II LP invested in Ark in 2000 and Ark was listed on the London Stock Exchange main list in March 2004.
UK - 3i sells 6% stake in Travelex to majority owners Apax and Standard Chartered
Funds advised by Apax Partners together with Standard Chartered Bank (SCB) have entered into a series of agreements with funds advised by 3i to purchase 3i's remaining 6% stake in Travelex. The transaction is due to complete within the next 5 months.
UK - Aberdeen Asset Managers sells interest in Bond Aviation Solutions
Aberdeen Asset Managers Growth Capital has sold Bond Aviation Solutions Ltd to Alpha Aviation Group. Aberdeen originally led the £4m management buyout of Bond from Astraeus Ltd, another Aberdeen Asset Managers-backed company, in November 2005. The sale...
UK - Bowmark Capital generates 6.7x return on Medscreen exit
Bowmark Capital has sold its majority interest in drug and alcohol testing services provider Medscreen Holdings Ltd to Concateno Plc, an AIM-listed company. The exit has generated an IRR of 52% and a return of 6.7x for Bowmark Capital.
UK - Langholm Capital portfolio company Just Retirement seeks AIM flotation
Just Retirement, a Surrey-based life assurance group focusing on the provision of financial services to those at or in retirement, has announced its intention to apply for admission to AIM. Just Retirement is seeking to raise approximately £50m through...
FRANCE - Innate Pharma goes public
Innate Pharma has completed a EUR 33.7m capital increase on Euronext Paris' compartment C. The instiutional tranche was reportedly 2.5x over-subscribed. Bryan Garnier was joint lead manager and joint bookrunner on this transaction alongside Société...
UK - Styles & Wood to float
Aberdeen Asset Managers Private Equity portfolio company Styles & Wood will raise £72m when it lists next week. The 150p per share IPO will give the shopfitter and retail property services provider a market capitalisation of £96.7m. Investec has been...
ITALY - MPS Venture and Consilium exit M.F.U
Mps Venture SGR and Consilium SGR have announced the divestment of M.F.U. SpA. The value of the exit proceeds is undisclosed. M.F.U specialises in the supply of integrated logistic solutions. The purchaser is the Anixter Group, a multinational leader...
NL-Newion Investments realises investment in Wisdom Group
Newion Investments has realised its investment in Wisdom Group, comprising Wisdom TMLC and The Missing Link, via a trade sale to Ordina. No financial details have been disclosed, but the acquisition price is in the range of 0.8 - 1.5x the company's turnover.
UK - Aberdeen Asset Managers sells interest in Mining Communications
Aberdeen Asset Managers Growth Capital has sold its interests in Mining Communications Ltd to a consortium of investors including Aspermont, an Australian publisher, and other existing executives and shareholders in Mining Communications. The sale has...
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 £28m. 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 £100m.
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.