Deals

GERMANY - Flex Group changes hands

AXA Private Equity has acquired German manufacturer of hand-held power tools from New York based investment advisor GSO Capital Partners. The management team led by Jörg Kempfing and Dr Josef Kring also invested and will holds a minority stake in the...

UK - La Tasca at centre of bidding war

Spanish eatery chain La Tasca is at the centre of a bidding war after Tragus upped its bid in response to a competing approach from a Robert Tchenguiz and Kaupthing. Tragus, backed by Blackstone and the operator of the Cafe Rouge and Bella Italia restaurant...

CEE – Innova sells Polcard

Central and East European investor Innova Capital has sold its remaining stake in Polish banking card company Polcard in a EUR 243m sale to First Data International, an e-commerce provider. Innova held a 25.24% stake in the company, strategic co-investor...

NL - ProFibrix closes $11m Series A financing round

ProFibrix BV, a Leiden-based biotech company focused on products to stop bleeding and initiate tissue repair, has closed a Series A financing round raising $11m. The round was led by Index Ventures and backed by some of the current share holders of ProFibrix....

UK - Sovereign makes 260% IRR on Claims Management exit

Sovereign Capital has reaped a 3.3x equivalent to an IRR of 260% on its exit from CMGL Group Ltd. The specialist provider of outsourced claims and insurance management services company has been acquired by The Capita Group Plc for ТЃ32m.

BELGIUM - Candover to invest in excess of EUR 50m in Ontex

Ontex has agreed to a financial restructuring which will see its private equity backer Candover inject more than EUR 50m into the business. Candover's stake is understood to rise to more than 80% following the restructuring. Merrill Lynch has reportedly...

UK - New entrant to begin battle for Boots?

Market sources suggest that German firm Celesio, a continental rival to the Alliance Boots pharmaceutical chain, has approached other buyout groups about the possibility of teaming up to launch a competing takeover bid for the listed UK retailer. Boots...

GERMANY - Essmann Group changes hands

Quadriga Capital has acquired the Essmann Group for EUR 110m from Taros Capital. Quadriga Capital will take a majority stake in the company, with management that also invested holding the balance. Taros Capital had acquired Essmann in 2000.

UK - Investment in UK enterprise hits new high

Investment in UK deals of sub-ТЃ1m has hit a new high of ТЃ63m over the 12 months to December 2006 according to research published by Venture Index. The ТЃ63m was comprised of 398 deals of which 136 were completed in the last three months of 2006. In...

SPAIN - Nazca makes 53% IRR with sale of tapas chain

Nazca Capital has sold its entire stake in tapas restaurant business Lizarrán Tapas Selectas from Nazca Capital for EUR 22m. The sale has brought an IRR of 53% and a money multiple of 2.3x on the initial investment to the private equity firm. The buyer...

GERMANY - Pace raises EUR 3m

eCapital has led a EUR 3m financing round in high-end engineering software developer Pace GmbH. IBB Beteiligungsgesellschaft and Strategic European Technologies also participated in the round.

SPAIN - 3i exits electronic systems business for EUR 33m

After a holding period of eight years, 3i has divested the 33% stake it had in Ikusi, a company active in the design, introduction and management of electronic systems. The exit value is EUR 33m and the buyer is the private equity arm of Corporación Caja...

UK - KKR higher offer prompts opening of Boots' books

KKR has raised its bid for Alliance Boots prompting the UK chemist and retail chain to open its books. The US-private equity firm bidding in league with the deputy chairman of Boots has offered 1,040p per share, a 4% lift on the 1,000p takeover bid it...

UK - Kaupthing/Tchenguiz trump Blackstone La Tasca offer

Kaupthing Pricipal Investments has teamed up with Robert Tchenguiz to launch a rival bid for AIM-listed restaurant chain La Tasca. Earlier this week, Blackstone through its Tragus portfolio company offered ТЃ96m for La Tasca. Tragus is the name behind...