Exits
UK - Debenhams lined up for £3bn IPO
The department store group Debenhams is being lined up for a return to the stock market with a price tag of up to £3bn, little more than two years after being taken private by a private equity consortium comprising CVC Capital Partners, Merrill Lynch...
UK - Carlyle and Atlas exit Orthogon Systems
The Carlyle Group and Atlas Venture have announced that they have entered into a definitive agreement to sell Orthogon Systems to Motorola, Inc. Financial terms of the transaction have not been disclosed.
FRANCE - Duke Street Capital exits Marie Brizard
Duke Street Capital (DSC) has announced today the sale of its 69.3% stake in Marie Brizard & Roger International (MBRI) to French Spirits Group Belvédère, for a total consideration of EUR 397m. DSC took control of MBRI in May 2000 when the family-owned...
GERMANY - Brockhaus sells majority stake in DMS
Brockhaus Private Equity has exited its controlling stake in DMS Dynamic Micro Systems Semiconductor Equipment GmbH. The acquirer, Arcadia Beteiligungen, together with management, plans to support the continued expansion of the firm initiated by Brockhaus....
NETHERLANDS - 3i to exit Refresco
A consortium led by FL Group hf. has signed an agreement to acquire Refresco Holding B.V. (Refresco), the Dutch private label soft drink manufacturer from the investment fund 3i Plc for a total consideration (enterprise value) of EUR 461m.
UK - Ingenious Ventures exits Lionhead Studios
Ingenious Ventures, the private equity arm of Ingenious Media, has realised its investment in Lionhead Studios, a leading video game developer, through a sale to Microsoft Game Studios.
SWEDEN - EQT sells Tradex to Brady Corporation
EQT II has signed an agreement with Brady Corporation, Milwaukee, a world leader in identification solutions and precision die-cut components, to sell Tradex Converting AB. EQT acquired Tradex in May 2000, together with the sixth AP Fund (20%) and the...
GERMANY - 3i floats Magix
3i has successfully backed the floatation of international multimedia software provider MAGIX AG. The company listed on the Frankfurt Stock Exchange on 6 April. The offering was 13.2 times oversubscribed and left 3i with an 11.2% stake in the company...
FRANCE - Financial investors retain majority of Legrand following refloat
Wendel Investissement and KKR hold a 60% stake in Legrand following the refloat of the company. The offering was 30 times over-subscribed. The public now holds approximately 20% of the Legrand's capital, with minority shareholders holding the remaining...
UK - Atlas Venture-backed Renovo lists on LSE
Renovo, a spin-out from Manchester University, has listed on the London Stock Exchange today. The floatation raised £50m. Atlas Venture provided seed financing to the company in 2000, assisting Professor Mark Ferguson with the university spin-out. Atlas...
NETHERLANDS - ABN AMRO Capital exits RTD to Applus for EUR 193m
ABN AMRO Capital has sold its stake in Röntgen Technische Dienst Holding BV to Applus Services Technologicos SL. The transaction is valued at EUR 193m. ABN AMRO Capital acquired the company from Lloyds Register in 2002. The exit transaction is expected...
ROMANIA - Advent sells Terapia for $324m
Advent International has sold its 96.7% stake in Terapia S.A., Romania’s leading generic pharmaceuticals manufacturer, to Ranbaxy Laboratories Limited for $324m.
GERMANY - Dr Neuhaus Techno Nord exits EUTEX holding
Following the listing of EUTEX on the Entry Standard of the Frankfurt Stock Exchange in December 2005, Dr Neuhaus Techno Nord has exited its remaining stake in the company. The strategic investor is an undisclosed Russian company operating in the field...
SWEDEN - 3i and L Capital-backed Gant in EUR 241m IPO
Gant, backed by 3i and L Capital, has today announced the EUR 241m flotation on the Stockholm Stock Exchange. The IPO provides 3i and L Capital with partial exits at this stage generating EUR 44m and EUR 76m of proceeds respectively.
CZECH REPUBLIC - Warburg Pincus exits LSE and Prague-listed Zentiva
Warburg Pincus has exited its stake in generic pharmaceutical supplier Zentiva N.V. Globally-active pharmaceutical developer Sanofi-Aventis has acquired a 24.876% stake in the company consisting of the 19.634% stake held by Warburg Pincus, a 4.507% stake...
FRANCE - IK recapitalises CEVA Santé Animale
Industri Kapital has completed a EUR 208m recapitalisation of CEVA Santé Animale, the international French based animal health care company. This is IK’s second recapitalisation in a week and follows the EUR 65m recapitalisation of Myresjöhus.
FRANCE - 3i sells interest in Groupe Vendôme to Johnson & Johnson
3i has entered into an agreement to sell its interest in Groupe Vendôme to Johnson & Johnson Consumer France SAS for an undisclosed sum. This acquisition is subject to regulatory approval and is expected to be completed in the second quarter of 2006.
FINLAND - Nexit sells Hybrid Graphics to Nvidia
Nexit Ventures, a venture capital firm focused on mobile technologies and services, has agreed to sell its share of Finland-based graphics technology provider Hybrid Graphics to US-based 3D technology company Nvidia Corporation.
AUSTRIA - Permira sells remaining AMS shares
Permira has sold its remaining shares in Austria Microsystems to Morgan Stanley for approximately EUR 180m for placement with international institutional investors. Permira had a remaining shareholding of around 34% in Austria Microsystems, an Austrian...
UK - Bridgepoint sells Hydrex for £106m
Hydrex Group, the specialist supplier of mobile operated equipment and associated support services for the UK rail and materials handling sector, has been sold by Bridgepoint to Quilvest and Shoaibi Group in a transaction totalling £106m.
UK - Barclays Ventures exits Media Audits Group Ltd
Barclays Ventures has realised its investment in Media Audits Group Limited, a market leader in measuring returns on advertising investment.
SWEDEN - IK makes 3x money on Myresjöhus recap
Industri Kapital has recapped Myresjöhus, a Swedish prefabricated house builder, it bought 12 months ago giving a return of 3x its original investment.
NETHERLANDS - ABN AMRO sells Radio Holland
ABN AMRO Capital and Stichting Co-Investors Radio Holland Group have agreed the sale of Dutch based Radio Holland Group to Imtech NV, for a purchase price of EUR 47m. Through this exit, ABN AMRO Capital will achieve a money multiple of 4.4x the initial...
FINLAND - CapMan exits from Mehiläinen
CapMan funds Finnventure V and Finnmezzanine III will sell their shares in Mehiläinen Oyj to H-Careholding AB, the owner of Carema. The consideration offered values the equity of Mehiläinen at EUR 152m and prior to the exit the funds have approximately...