Exits
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 ТЃ10.4m on ТЃ40m 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
Kester-backed Frontier sells business to HIG-backed Vernacare
HIG invested from its Growth Buyout Equity Fund III to acquire Vernacare from Palatine
GCP sells Chaucer to Apax-backed Bip
With this add-on, Bip expects to create a global advisory company with 3,300 staff and revenues of тЌ350m
Mercia sells NAC to PE-backed LGC for £18m
Mercia held a 29.4% stake in NAC at the date of sale and will receive initial cash proceeds of ТЃ4.8m
Resource Partners sells Golpasz to trade
PE firm Resource Partners has been a majority shareholder of Golpasz since 2015
Ardian sells stake in Envision
Ardian and GHO have been exploring options with advisers for the sale of Envision since May
Aurelius sells handicraft business Mez
Sale ends a five-year holding period, during which Aurelius sold Mez's Italy-based subsidiary
Bridgepoint Development Capital to exit KGH Customs Services to trade
UK-based GP exits the business six years after acquiring it from Procuritas
TnuiCapital to acquire Busaba
Terry Harrison, Busaba Eathai's managing director, is to remain at the helm