Deals
UK - Sovereign in £11m buyout of living care company
Sovereign Capital has backed the £11m institutional buyout of Parallel Options Ltd, a provider of supported living care services to adults with learning disability or mental health needs in Gloucestershire.
UK - Babcock edges out Carlyle in Devonport deal
An initial agreement between the vendors of naval dockyard Devonport and Babcock International indicates that Babcock has edged out rival bidder Carlyle. The £350m deal would be subject to approval from the Ministry of Defence and competition authorities,...
BALTICS - BaltCap exits UAB Daily Services yielding 35% IRR
BaltCap has sold its minority position in UAB Daily Services, a Baltic office supplies logistics company, to Agias Holding SIA. BaltCap recived 35% IRR on the investment.
UK - YFM's Chandos Fund completes first deal with £2.3 investment
YFM Private Equity's latest fund, Chandos, has completed its first buyout. Chandos's first deal, a £2.3m investment in fitted kitchen specialist Harvey Jones, follows its first close on £23m in January. The fund is targeting a final close of £40m,...
LUXEMBOURG - 3i invests EUR 37m in outsourcing business
3i Growth Capital has invested EUR 37m for a minority stake in KNEIP Communication, the Luxembourg-based outsourcing partner to the investment fund industry.
UK - Alchemy interested in Torex Retail
Alchemy Partners is reported to be interested in acquiring struggling software retailer Torex Retail. Aim-listed Torex hit trouble earlier this year with a profit warning and a suspension in the trading of its shares. It is currently under investigation...
GERMANY - Greater Pacific Capital front runner in bid for Merck division
UK-based private equity firm Greater Pacific Capital is the front runner to acquire the generic drugs division of Merck. GPC is bidding in association with Indian company Torrent Pharmaceuticals and backing from Fortress Group and Tudor Investment. The...
UK - BC Partners wins £400m auction for Foxtons
It is understood that BC Partners has reached exclusivity in its bid to acquire estate agency chain Foxtons. The deal values the primarily London-focussed agency at £400m. In a process run by Credit Suisse, BC Partners beat off competition from other...
SPAIN/FRANCE - Altadis opens its books to trigger bidding war
In an effort to ramp up competition for its acquisition, Franco-Spanish tobacco company Altadis yesterday opened its books to the scrutiny of bidders Imperial Tobacco and a CVC Capital Partners/PAI partners syndicate.
ITALY - MPS Venture divests from broadcasting business Finelco
MPS Venture has sold the combined stake of 12.86% it held in broadcasting business Finelco to industry player RCS Mediagroup Spa. The total exit value is EUR 20.7m.
FRANCE - HgCapital buys French wind farms for EUR 69m
Via its fund Hg Renewable Power Partners, HgCapital has acquired four wind farms in the Picardie region, for a total consideration of EUR 69m.
SPAIN - Torreal buys minority stake in audiovisual group
Private equity firm Torreal has bought a 20% stake in audiovisual group Imagina. No further financial information has been disclosed.
DENMARK - Via Ventures invests in QAtor
Via Venture Partners has invested in QAtor - a software firm specialising in compliance and quality assurance software for the Life Science Industry. The investment will be used to further accelerate market penetration and product development.
SWEDEN - EQT and Investor AB sells Gambro Health Care to Bridgepoint
Investor AB and EQT has agreed to sell Gambro Health Care to Bridgepoint for an undisclosed sum from Gambro Holding AB. Prior to the sale EQT has held a 51% stake in the company, and Investor AB held the remaining. The sale of Gambro Healthcare is part...
UK - University of Sheffield spin-out sold to US medical technology company
Plasso Technology UK has been acquired by US medical technology company BD (Becton, Dickinson and Company). The deal represents an exit for Plasso investors, White Rose Technology Seedcorn Fund and East Hill Management Company. White Rose provided Plass...
SWEDEN - Industri Kapital sells Elektrokoppar to Liljedahlsbolagen
The Industri Kapital 1997 Fund has signed an agreement to sell 100% of its shares in the Elektrokoppar group to Liljedalhsbolagen. During Industri Kapital's ownership, Eelktrokoppar has strenghtened its product line as well as developed various niche...
UK - Bridges provides The Office with £2.2m of additional funding
Bridges Community Ventures has provided managed office business The Office with a further round of funding totalling £2.2m. The new capital has enabled The Office to purchase a fourth building.
UK - Advent International acquires Lloyds TSB Registrars in £550m deal
Advent International has acquired the share registration arm of Lloyds TSB for £550m. The deal came about after Lloyds TSB appointed Lehman Brothers to run a sale process. Advent beat off competition from Australian company Link Market Services which...
SWEDEN - Earlybird leads SEK 68.5m investment in Sidec Technologies
Earlybird Venture Capital, Industrifonden and Investor Growth Capital has invested SEK 68.5m in Sidec Technologies AB, a Swedish biotech company. In the series-B round, Investor Growth Capital and Ealybird joined Industrifonden, an existing investor....
UK - CVC reported to be interested in Jessops
London-listed camera retailer Jessops is the subject of takeover speculation. The company's shares are trading at a fifth of what they were worth last year following a series if profit warnings. CVC is reported to be interested in the company.
UK - Morrisons latest supermarket to attract private equity interest
Morrisons is the latest UK supermarket chain to have attracted private equity interest. The Bradford-based chain is the fourth largest supermarket in the UK following its takeover of Safeway in 2004. A private equity bid could value Morrisons at up to...
UK - One Equity encounters new competition for EMI takeover approach
One Equity is facing competition in its bid to acquire London-listed music publisher EMI. EMI is reported to have opened its books to US hedge fund Cerberus and Fortress Investment Group as well as One Equity, the private equity arm of JP Morgan that...
UK - Bridges leads SBO of Triage from 3i
Bridges Ventures has led the secondary buyout of IT repair company Triage Services. The deal represents an exit for 3i which backed the original £9m management buyout of the company in 1997. Kaye Enterprises and Calculus Capital also participated in...
UK - 3i to buy into architectural firm
3i is reported to be buying a minority stake in Foster & Partners, the architectural business behind the Gherkin. The deal is expected to value the company at between £400-500m.