Deals
ITALY - PM & Partners receives offers for AEB
PM & Partners, the advisers for Luxembourg-based vehicle Emerald, is understood to be evaluating offers for AEB, one of the fund's portfolio companies. Rumour has it that the counsel is looking to sell the company for no less than EUR 90-100m.
UK - Investcorp's Polestar in crisis
Polestar, the printing group formed by Investcorp's ТЃ700m buyout of two printing groups in 1998, is reported to be on the threshold of a financial restructuring.
UK - Permira closer to securing EMI deal
Market reports suggest that Permira is close to securing the estimated ТЃ2bn buyout of music giant EMI.
FRANCE - Eurazeo sells Eutelsat shares to CDC and confirms interest in Conforama
A few days after Abertis’ acquisition of Eutelsat’s new largest shareholding, Eurazeo announced it had sold its entire 25.5% shareholding to state-backed Caisse des Dépots et Consignations (CDC) for EUR 862.7m.
GERMANY – KKR exits its stake in Demag Cranes
Following the IPO of Demag Cranes six months ago, Kohlberg Kravis Roberts together with Siemens are selling their remaining 33.2% stake in the company. Goldman Sachs and Lehman Brothers are placing the shares in a range of EUR 33.00-33.50 with investors....
UK - 3i generates 100%+ IRR on exit from Domantis to GlaxoSmithKline
3i is to sell its stake in Domantis, a developer of next generation antibody therapies to GlaxoSmithKline in an all cash deal valuing the company at ТЃ230m. The exit is generating an IRR in excess of 100% on 3i's investment. Other investors in Domantis...
AUSTRIA – TTTech Computertechnik receives EUR 20m funding
Strategic financial investor firstVentury has invested EUR 20m in Vienna-based supplier of time-triggered systems TTTech Computertechnik AG. Additionally, international automotive company AUDI AG acquired a minority interest in TTTech.
DENMARK - CapMan exits ECO-DAN
CapMan funds have sold the activities in ECO-DAN A/S, a Danish provider of guidance systems used for precision farming, to a European manufacturer of agricultural equipment. The transaction is expected to close by the end of 2006.
UK - MidOcean Partners acquires Birmingham-based packaging company
MidOcean Partners, the group which recently realised its investment United Biscuits through a ТЃ1.6bn secondary buyout, has acquired Europackaging for a reported ТЃ190m.
UK - Risk Capital Partners exits design and marketing company Loewy
Risk Capital Partners has made its fourth full exit in the past 15 months with the sale of its entire holding in the creative design and marketing services company Loewy. The Loewy disposal generated a 2.5x cash on cash return and an IRR of 41%.
FRANCE - Eurazeo grants CVC exclusivity to Fraikin
Eurazeo has granted CVC Capital Partners a period of exclusivity to truck rental company Fraikin following an offer which values the business at EUR 1.35bn.
NL - Liquavista attracts EUR 12m in series - A financing round
Amadeus Capital Partners and GIMV have led a EUR 12m series-A financing round in Liquavista BV, a fabless display manufacturing company based in Eindhoven. New Venture Partners, which led the spinout of Liquavista from Philips Research in April this year,...
UK - North West Equity Fund in £500,000 fundraising for Into Technology
The North West Equity Fund, alongside Liverpool Seed Fund, has invested in a ТЃ500,000 fundraising round for Into Technology Holdings Ltd.
GERMANY – Quadriga Capital buys back AHT Cooling Systems
Quadriga Capital has acquired a majority stake in AHT Cooling Systems for an undisclosed amount from Equita. Dresdner Kleinwort has been mandated to solely arrange the debt package comprising senior and mezzanine facilities. In 2005 Quadriga Capital sold...
UK - Enterprise Ventures invests £600,000 in Student Resources Ltd
Enterprise Ventures has completed a ТЃ600,000 investment in Student Resources Ltd via the Coalfields Enterprise Fund.
IRELAND - Setanta to receive Doughty Hanson investment
Market sources report that the Irish-headquartered broadcaster Setanta Sports which owns the rights to two of the six Premiership packages available is to receive an investment from Doughty Hanson alongside debt funding provided by Goldman Sachs. The...
UK - Oxford Capital Partners participates in £5m series-A funding for OrthoMimetics
Oxford Capital Partners has announced its investment in OrthoMimetics Limited, the first technology spin-out from the Cambridge-MIT Institute (CMI). Oxford Capital Partners joins a syndicate of investors including Schroders Investment Management Ltd,...
UK - 3i-backed Salamander Energy in $405m IPO
3i portfolio investment Salamander Energy has been listed on the London Stock Exchange with a market capitalisation of $405m. Salamander Energy Plc is an upstream oil and gas exploration and production company focused on South East Asia. 3i invested $22.6m...
UK - Aberdeen Asset Managers Private Equity backs £19.1m MBO of Purac
Aberdeen Asset Managers Private Equity has backed the ТЃ19.1m management buyout of Purac Ltd, a process engineering specialist, from AWG Plc. Aberdeen provided the equity funding with the Bank of Ireland providing a debt package including senior, working...
ESTONIA - BaltCap generates 50% IRR on Ecometal investment
BaltCap has sold its significant minority position in lead battery recycling company AS Ecometal to DeltaCom Holding Ltd for an undisclosed amount. BaltCap has generated an IRR exceeding 50% on this investment.
FRANCE - Cinven, Texas Pacific, Spectrum and Goldman Sachs sell Eutelsat shares
Cinven, Texas Pacific Group, Spectrum Equity Investors and Goldman Sachs have sold their entire stake in Eutelsat Communications, the world's third largest satellite services provider listed on Euronext Paris' compartment A, in two simultaneous sales....
UK - ISIS backs ILS acquisition of Home Concern
ISIS has provided its portfolio company Independent Living Services Ltd (ILS) with additional funds to enable it to acquire Home Concern (Scotland) Ltd. The combined company will be one of the largest providers of care at home services in Scotland with...
SWITZERLAND - Butler carves out Rhodia's European string and fibre operations
Butler Capital Partners has backed the management buyout of chemical specialist Rhodia's European fibre and string business. The buyout house took a 95% equity stake, while management retained the balance.
UK - LDC backs EUR 63m MBO of Anglo-Dutch corporate travel and event management firm
LDC has invested EUR 24m as part of a EUR 63m management buyout of ATP, an Anglo-Dutch corporate travel and event management firm formerly a subsidiary of Dutch investment company Reggeborgh. Lloyds TSB Acquisition Finance provided senior debt and revolving...