Portfolio management
SPAIN - Creditors take over Cinven-backed USP Group
According to reports, Cinven-backed healthcare group United Surgical Partners (USP) has completed a restructuring with its lenders Barclays and Royal Bank of Scotland that will see the banks acquire a 65% stake in the business through a debt-for-equity...
Re-motivating management
The economic situation is affecting existing management shares incentives in companies with no equity value as well as - for those companies that can still use equity as an incentive - some of the more popular plans currently being implemented. Rebecca...
SPAIN - Quercus-backed Alfanext acquires Música Viva
Audiovisual and stage services Grupo Alfanext, controlled by private equity firm Quercus Equity, has acquired audio and lighting specialist Música Viva.
FRANCE - CDC-backed Artesys buys Naviline
CDC Capital Innovation-backed Artesys, an information services company, has purchased sector player Naviline from the Soft Company and merged the businesses to create Groupe Artesys.
UK/NORWAY - Kenda merges three portfolio companies
Kenda Capital has merged three of the portfolio companies in its managed fund Shell Technology Ventures Fund I to create Tendeka, an oil and gas services business.
MOLDOVA - Horizon Capital-backed GC Prim secures $10m loan
Glass Container Prim (GC Prim), which is backed by Ukraine- and Moldova-based Horizon Capital, has secured a $10m 6-year loan from the Black Sea Trade and Development Bank.
FINLAND - Nexit-backed Limbo to merge with Brightkite
Nexit Venture-backed mobile social networking site Limbo has merged with fellow social networking platform Brightkite. The two communities will operate under the brand name Brightkite.
UK- Dunedin-backed WFEL secures £18m contract with US Dept of Defence
WFEL Limited, the defence engineering group backed by private equity house Dunedin, has secured an £18m contract with the US Department of Defense to supply it with military bridging systems.
ITALY - PE-backed Weather Investments to restructure debt
It is understood that telecom holding Weather Investments is looking to restructure a tranche of its debt.
UK/US - GTCR- backed Boomerang buys Entertainment Rights
Boomerang Media, a media solutions company backed by chicago-based private equity firm GTCR, has acquired the US and UK operations of Entertainment Rights, the company that owns the licensing rights to children characters such as Postman Pat and George...
GERMANY - Leonardo-backed Rösler miniDaT insolvent
Leonardo Venture portfolio company Rösler miniDaT GmbH, a provider of security systems, has filed a petition with Syke District Court to begin bankruptcy proceedings amidst the imminent insolvency of the company.
NETHERLANDS - KKR-backed NXP in $600m debt swap
Creditors of KKR-backed Dutch semiconductor business NXP have agreed to swap approximately $600m of loan notes for new secured bonds, in a move which sees the company's debt reduced by around $465m.
ITALY - Permira-backed SEAT PG to raise EUR 200m
Listed publishing firm SEAT Pagine Gialle, which is backed by a private equity consortium comprising BC Partners, Permira, CVC Capital Partners and Investitori Associati, has launched a rights issue to raise EUR 200m.
FRANCE - PAI-backed Yoplait buys Dairy Crest’s share of venture
PAI partners portfolio company Yoplait has acquired Dairy Crest's 49% stake in their joint venture Yoplait Dairy Crest for £63.5m.
ITALY - DGPA-backed Mida acquires MCG Grafica in EUR 2.8m deal
DGPA-backed Mida, a producer of adhesive labels used in the pharmaceutical and related sectors, has acquired MCG Grafica, a manufacturer of labelling sleeves, in a deal valued at just under EUR 3m.
AUSTRIA/NORWAY - GCP-backed Identec acquires TunnelCom
Gamma Capital Partners-backed Identec Solutions AG, an Austria-based supplier of industrial tracking and tracing solutions, has acquired Norway-based TunnelCom, a provider of automatic tagging solutions for the tunnel, mining, oil and gas industries.
AUSTRIA - ValueNet-backed Rohe insolvent
According to reports, ValueNet Capital Partners' portfolio company gas station Rohe Group has filed for insolvency.
SWEDEN - Index- and Sequoia-backed Stardoll merges with Piczo
Online entertainment site Stardoll, which is backed by amoung others Index Ventures and Sequoia Capital, has merged with Piczo, a website dedicated to custom web publishing for teenagers.
SWEDEN - HitecVision-backed Leirvik MT acquires competitor
HitecVision portfolio company Leirvik Module Technology, a supplier of prefabricated living quarters to offshore oil platforms, has acquired certain key assets of Emtunga Offshore, which went into insolvency in December last year.
SWEDEN - Nordic Capital-backed Plastal files for bankruptcy
Nordic Capital-owned Plastal Holding AB, a supplier of parts to the European automotive industry, has declared insolvency and filed for bankruptcy.
NORWAY - Herkules-backed NIG goes into administration
Herkules-owned home retailer Nordic Interior Group (NIG) has gone into administration. NIG consisted of three separate business units: TilBords, which was taken over by Herkules Private Equity Fund II last week prior to NIG's liquidation; Festival Engros,...
UK - VC-backed businesses face funding shortfall
A new survey, conducted by Populus on behalf of the BVCA, has found that the majority of UK-based venture capitalists expect deal activity to decline in 2009, with more than half of those surveyed anticipating a significant slide against 2008.
UK - 3i-backed Civica makes two acquisitions
3i-owned software solutions provider Civica, through its subsidiary Civica Pty Ltd, has acquired Queensland-based Practical Computer Services Pty Ltd and the local government business of electionz.com, based in New Zealand.
NETHERLANDS - Mountain Partners-backed Bluehill acquires Yoonison
Business angel network Mountain Partners-backed Bluehill ID has acquired Yoonison BV.