Deals
2013 exit activity on course to match quiet 2012
Divestment activity figures so far this year highlight the exit environment remains tough for GPs looking to return cash to investors – although recent weeks have seen positive trends unfolding.
Pricing secondaries: complex process or pure guesswork?
Pricing secondaries
Sentica’s atBusiness merges with Innofactor
Sentica Partners Oy has sold Finnish technology company atBusiness to Innofactor.
HG International trades hands between Gilde funds
Gilde Equity Management Benelux (GEM) has sold Dutch cleaning products supplier HG International BV to the GP's sister division, Gilde Buyout Partners (GBP).
Uniqa to sell $665m private equity portfolio
Austrian insurance company Uniqa Versicherungen is planning to offload $665m of private equity positions ahead of Solvency II.
EQT's Springer Science still in dual-track process
BC Partners is reportedly left as the sole bidder for EQT portfolio company Springer Science, which announced IPO plans last week.
LBO France to team up with Fosun for Nocibé bid
French firm LBO France could make a joint bid with Chinese conglomerate Fosun for Nocibé, the French perfume and cosmetics retailer owned by Charterhouse, according to reports in the local press.
Herkules picks up Umoe Schat-Harding and Noreq
Herkules Private Equity has acquired life-saving equipment companies Umoe Schat-Harding and Noreq in a combined transaction.
North West Fund backs Fourteen IP
The North West Fund for Venture Capital, managed by Enterprise Ventures, has committed £500,000 to communications solutions firm Fourteen IP.
Northzone et al. exit Energy Micro to Silicon Labs for $170m
Northzone and Investinor have exited Norwegian company Energy Micro AS to Nasdaq-listed Silicon Labs for $170m, reaping a 2.5x multiple on their original investments.
Mobeus reaps 2x on BIH exit
Mobeus Equity Partners has divested the main operating facility of British International Helicopter Services (BIH) to trade player Patriot Aerospace Group, realising a 2x return.
Clave Mayor to divest Gadea
Spanish venture capital investor Clave Mayor is to divest its 10% stake in pharmaceuticals developer Gadea.
PDV Inter-Media Venture et al. back PressMatrix
PDV Inter-Media Venture has joined existing backers in a €2.5m series-A funding round for PressMatrix, a German technical service provider for tablets and mobile devices.
Deutsche Annington to list ahead of Terra Firma fundraise
Deutsche Annington, the German real estate group backed by Terra Firma, has confirmed it will list on the Frankfurt Stock Exchange this year.
MML-backed Arena makes Asian bolt-on
MML Capital-backed Arena has acquired Malaysia-based Asia Tent International.
Apax to lead GFI Informatique takeover
Apax France and listed fund Altamir Amboise have announced plans to lead a takeover offer for French listed IT business GFI Informatique.
NVM achieves 3.3x on IG exit
NVM Private Equity has sold IG Doors to the Hörmann Group, generating an IRR of 17.3% and a 3.3x money multiple.
VC-backed Valkee raises €7.4m
Finnish health technology company Valkee has announced a €7.4m series-A funding round.
Cinven’s Avio Spazio attracts trade buyers
Preliminary offers for Avio Spazio, owned by Cinven and Italian defence group Finmeccanica, are expected by the end of June according to reports in the local press.
Agilitas buys ISS division in maiden investment
Mid-cap GP Agilitas Partners has backed the management buyout of ISS Damage Control from EQT-backed ISS Group.
AA and Saga looking to refinance, then split
The AA group and Saga, backed by CVC, Charterhouse and Permira, are to issue a long-term bond to refinance £4bn of bank debt, which could lead to a break-up.
Dunedin backs £43m Trustmarque secondary buyout
Mid-market GP Dunedin has backed the £43m management buyout of Trustmarque Solutions, a technology services and solutions provider, from LDC.
Doughty divests Vue to Omers and Alberta for £935m
Doughty Hanson has sold cinema group Vue Entertainment to Omers Private Equity and Alberta Investment Management Corporation (AIMCo) for an enterprise value of £935m.
Neomed and Defi back CHF 1.3m round for Diagnoplex
Neomed and Defi Gestion have taken part in a CHF 1.3m funding round for Diagnoplex SA, a Swiss developer of diagnostics for colon cancer.