Deals
NL - ING to sell speciality insurance unit to Hal and Egeria
ING Group has announced that it intends to sell its speciality insurance unit Nationale Borg to HAL Investments and Egeria as part of its strategy to focus on its core insurance, banking and asset management businesses. The intended sale is subject to...
GERMANY - Investor consortium to take over renergys
A consortium of investors made up of Ramius Group, GermanCapital Morgan Stanley and Milan-based Sopaf, is to acquire renergys GmbH from venture fund GermanIncubator and a group of private investors. As part of the transaction the investors will provide...
UK - Icera closes $20m investment from 3i
Icera Inc, the cellular wireless semiconductor company, today announced that 3i has invested $20m in the company as an extension to its recent series-C funding round, which now totals $60m. 3i joins an investor group comprising Benchmark Capital Europe,...
UK - CBPE sells Minova for £357m
Close Brothers Private Equity has sold speciality chemicals manufacturer Minova for ТЃ357m to Orica Ltd, an Australian quoted company. Minova's products are used in the coal mining, metal mining and tunnelling industries.
NORWAY - CapMan to make voluntary offer for Polimoon
CapMan funds intend to put forward a voluntary offer to purchase all shares outstanding in Oslo Stock Exchange-listed Polimoon ASA for a total equity valuation of NOK 1.082bn. The offer price is NOK 27.50 per share.
UK - Macquarie bids £8bn to win Thames Water auction
RWE, the German energy group, has sold Thames Water to a consortium led by Macquarie's European infrastructure fund. The ТЃ8bn deal involves ТЃ3.2bn of debt. It is expected to close before the end of the year.
DENMARK - Nordic Venture Partners invests in mobile data back-up company
Nordic Venture Partners has invested several million euros in ZYB, a free mobile back-up and sharing service operating on a global level. ZYB was founded in 2005 and it is doubling its number of employees before entering into next year.
ITALY - Apollo Management buys Jacuzzi for $ 1.25bn
According to press reports, US firm Apollo Management has agreed to buy Jacuzzi, the manufacturer of baths, showers and hot tubs in a take-private valued at $1.25bn, including $257m in debt.
SPAIN - Atitlan Capital completes its first investment
Private equity firm Atitlan Capital has recently completed its first investment in Dafsa, a company producing juices, soups, broths and creams. The expansion deal is valued at EUR 6m. Atitlan is based in Valencia and it is dedicated to the management...
UK - Inflexion backs £24m buyout of Parasol Ltd
Inflexion Prviate Equity has led the ТЃ24m management buyout of Warrington-based Parasol Ltd, an employment services company. Inflexion-managed funds have invested ТЃ9.4m for a majority equity position. HSBC provided a ТЃ12m debt package.
SPAIN - 3i and Lar to exit Ballesol
Insurance group Santa Lucía is reported to be in advanced negotiations to join the shareholding structure of Ballesol, one of the Spanish market leaders for elderly homes. Ballesol's shareholders, real estate group Lar and 3i, have expressed their intention...
FRANCE - Weinberg Capital Partners invests in listed CRM company
Weinberg Capital Partners (WCP) has announced it will make a EUR 22.5m equity investment in Teamp Partners Group (TPG), in view of constituting the leading French client-oriented business process outsourcing company.
SPAIN - Warburg Pincus acquires stake in Pinar
Real estate group Pinar has sold 18% of its shares to Warburg Pincus for an undisclosed sum. After the transaction, the company's founding family will hold 55% of the company, while other shareholders Caja de Avila and Caja de Segovia will hold a 10%...
FRANCE - Fraikin sale underway
According to reports in the French press, the auction process for the sale of truck rental company Fraikin has attracted bids from Cinven, CVC, Terra Firma. The bids reportedly value the business at around EUR 1.5bn.
UK - Aberdeen Asset Managers recapitalises Plaxton
Aberdeen Asset Managers Private Equity has recapitalised portfolio company Plaxton, the UK's leading manufacturer of luxury coaches and buses. This transaction gives the business a solid platform from which to increase its recently launched bus models...
UK - Close Ventures invests in Helveta
Close Ventures is pleased to announce that it has invested ТЃ1.4m in Helveta Ltd, creator of the TracElite timber traceability solution. Close led a ТЃ2m funding round, with the balance provided by existing investors Oxford Capital Partners and a number...
NL - Wavin IPO receives lacklustre response
The flotation of Dutch pipe manufacturer Wavin by CVC and AlpInvest has raised substantially less than targeted. With shares priced at EUR 11m, the bottom of the EUR 11-13.50 range, the flotation raised EUR 371m, substantially less than the EUR 641m it...
FRANCE - Acto leads two mid-cap buyouts
Acto has taken a 55% stake in French family tourism pioneer VVF Vacances with a EUR 41m equity investment. CDC took a 40% equity holding, while management retained 5%. Finama's private equity arm also made a commitment to corporate services residence...
SPAIN - 3i considering sale of Provimar
3i is reportedly negotiating the sale of portfolio company Provimar to restaurant business Grupo Arturo for EUR 18m. Provimar specialises in services to ships and duty free stores.
FRANCE - EdRIP and Naxicap take minority stake in Transimmeubles
Edmond de Rothschild Investment Partners and Naxicap Partners have taken a minority stake in real estate management, renovation and promotion business Transimmeubles. Following this deal, the company's founder Laurent Dumas retains over two thirds of...
SPAIN - Lemon Quest receives EUR 2m in first financing round
Lemon Quest, a Madrid-based developer of games for mobile phones, has received its first round of financing from Debaeque Capital, the venture capital firm managed by Patrick Raibaut. Debaeque has injected EUR 2m and has taken a stake in Lemon Quest...
FRANCE - Astorg makes 3.3x on CIS sale
Astorg Partners has sold its entire interest in utility meters installation, management and maintenance business CIS to Ista International GmbH. The sale, which generated an IRR of about 80% and a money multiple of 3.3x for Astorg, values the company...
UK - LDC invests in Personal Touch Financial Services
LDC has invested ТЃ9m for a minority stake in financial services network Personal Touch Financial Services (PTFS). The deal values the company at approximately ТЃ50m. A key driver of this investment for LDC is to support the growth of PTFS over the next...
FRANCE - PagesJaunes deal closes
KKR and Goldman Sachs Capital Partners have announced the completion of their acquisition of France Telecom's 54% shareholding in directory business Pages Jaunes. With a unitary share price of EUR 22, the total value of the acquired interest amounts to...