Exits
White Bridge buys Alpha Test from Aksia
GP intends to support the company’s growth and expansion across the education sector in Europe
Aurelius's Office Depot to sell Spanish direct business to trade
Deal is Office Depot’s fourth divestment in nine months as part of its ongoing restructuring
PAI to acquire Amplitude from Apax
Apax, which currently owns 41.4% of the listed company, would fully exit its stake
Leonard Green-backed CPA merges with Clarivate in $6.8bn deal
Clarivate is anticipating adjusted revenues of $1.13-1.16bn and adjusted EBITDA of $395-420m for 2020
Ardian buys Finaxy from Equistone
Sale ends a six-year holding period for Equistone, which owned a stake of around 80% in the company
KKR sells Papresa to Quantum
Sale ends a six-year holding period for KKR, which acquired Papresa from Grupo Alfonso Gallardo
GCP exits DMW to Credera
DMW's management team, led by CEO Chris Dean, will continue in their current roles
IK sells Aposan to Ardian-backed Santé Cie
Sale ends an investment period of almost four years, during which revenues and EBITDA doubled
The Deals Pipeline
A fortnightly highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe
Centerbridge Partners exits Cepal to Alpha Bank
Alpha Bank, which already owned a 40% stake in Cepal, acquires full control of the company
Aurelius sells Office Depot's Spanish business to trade
Deal is part of the ongoing restructuring of the company started under Aurelius's ownership
PE exits hit decade low in Q2
Volume of exits by PE players across Europe fell by 43% year-on-year in Q2 2020 as the coronavirus crisis took hold, according to Unquote Data
Gilde's Gundlach Automotive sells Goodwheel to trade
Deal sees the B2B-focused tyre and auto parts company sell its B2C online retail division
Silver Lake in exclusivity to acquire Meilleurtaux from Goldman Sachs
Deal follows Silver Lake's acquisition of France-based HR software Silae in July 2020
Talde, Oquendo exit Rotecna to Solix-backed Skiold
Rotecna becomes part of Skiold's existing pig business unit and continues to be led by ts management team
Aurelius to acquire majority stake in DetailM
Arcus Capital is the advertising company's majority owner, while Aheim Capital owns a minority stake
Bestport sells Oracle for 3.3x return
Oracle Residential has 11 children's homes across Bedfordshire, Cheshire and Staffordshire
GED, Oquendo sell GTT to AnaCap
Sale ends a three-year holding period for Ged and Oquendo, which acquired the company from Realza Capital
BGF-backed Xercise4Less prepares for administration
Gym chain recorded losses of £10.4m on £40m revenues in the most recently available accounting year
TowerBrook acquires Azzurri in £70m deal
Azzurri owns the ASK Italian, Zizzi and Coco di Mama chains and is based in London
Headway Capital exits lighting specialist Castaldi to trade
Sale ends a four-year holding period for Headway, which bought the business as part of Cape Natixis Due's portfolio
Riflebird-backed Piller Entgrattechnik acquired by SFO
SFO specialises in the takeover and further development of mechanical and plant engineering companies
Hony to lose control of PizzaExpress in debt-for-equity swap – report
Many bondholders bought into the restaurant chain in late 2019 as its bonds traded lower
Bridgepoint's Miya attracts offers from EQT, IFM, KKR, BlackRock – report
Miya is a portfolio company of Bridgepoint Europe VI, a €5.7bn fund that invests in companies with EV of €200m-1bn