Restructuring
Motion and FSI inject additional €80m into Tokheim
Motion Equity Partners (formerly Cognetas) and Fonds Stratégique d'Investissement (FSI) have provided French fuel distribution solutions company Tokheim with an €80m equity injection as part of a larger refinancing operation.
Rutland Partners' Notemachine completes £63m refinancing
GE Capital, Barclays and European Capital have provided a ТЃ63m senior debt refinancing package for Rutland Partners' UK portfolio company Notemachine.
Palamon concludes £23m refinancing of Cambridge Education Group
Palamon Capital Partners has completed a ТЃ23m refinancing deal for its portfolio company Cambridge Education Group (CEG) with Royal Bank of Scotland.
Synova Capital's CloudXL completes debt refinancing
Synova Capital's portfolio company CloudXL, a UK provider of cloud-based infrastructure services, has completed its debt refinancing operation.
Private equity 'unlikely to buy 3i's troubled Chorion'
Private equity firms are unlikely to show much appetite for struggling 3i-backed Chorion, the owner of the Mr Men franchise, corporate finance adviser Jeremy Rayment said today.
JC Flowers in talks to buy €1bn CAM stake
US private equity firm JC Flowers is in negotiations with Spanish savings bank Caja de Ahorros del Mediterraneo (CAM) to buy a stake for between €400m-1bn.
Oaktree becomes largest Panrico shareholder
Oaktree Capital has become the largest stakeholder in Spanish doughnut manufacturer Panrico after buying the shares held by Caja Madrid.
Bridgepoint sale of Rodenstock collapses
Bridgepoint’s sale of German eyeglass maker Rodenstock has collapsed, according to reports.
Time running out for Coronel Tapiocca
Coronel Tapiocca, the Spanish fashion label owned by Gala Capital, has failed to reach an agreement with its lenders before today’s deadline.
BC Partners to restructure debt in Regency Entertainment
BC Partners has appointed the investment bank Houlihan Lokey to advise on the restructuring of Greek casino operator Regency Entertainment’s €557m debt, according to reports.
Apax set to lose stake in Panrico
The large banking syndicate holding debt in the Spanish bakery business Panrico looks likely to follow through with a debt for equity swap after attempts to re-finance the leverage package failed.
German industry: Getting the European economy working
Manufacturing is one of the most important sectors in the German economy, and the country's heavy industry base seems to be experiencing a revival as the global economy improves. As Europe's biggest manufacturer, the health of German industry is also...
Chemicals: Is private equity getting the mix right?
While the alchemists of old never succeeded in turning lead into gold, private equity investors are seeing opportunities to profit from the chemicals sector. With a swathe of recent activity in the industry, including a major exit, chemicals companies...
Apollo supports LyondellBasell restructuring
Apollo Management has backed the debt restructuring of chemical giant LyondellBasell allowing the company to emerge from the bankruptcy declared in January 2009.
Permira, Candover, Cinven lose control of Gala Coral
Gala Coral's fate is understood to have finally been sealed after its lenders have agreed to a long-awaited restructuring deal that will see Gala's mezzanine creditors take complete control of the business from private equity owners Permira, Candover...
N+1 backed Bestin seeks voluntary credit agreement
N+1-backed logistics operator Bestin Supply Chain has requested a voluntary credit agreement with the object of finalising the debt restructuring of the various firms making up the group.
KBC to sell private equity wing
As previously reported in unquote, KBC Groupe NV, a Belgian bank, is set to sell its private equity arm by the end of 2010 having received a number of offers for the division.
UK - Apollo, Cerberus buy stake of Gala's debt
A consortium including Apollo Management and Cerberus Capital Management have reportedly acquired a substantial tranche of Permira-, Cinven- and Candover-backed gaming company Gala Coral's debt, giving the consortium the chance to take control of the...
UK - Gala's junior lenders could sell off debt
Junior lenders of Permira-, Cinven- and Candover-backed Gala Coral, the British gaming company, are reportedly considering selling off their debt rather than pursuing a debt for equity swap that would see them gain a considerable stake in the beleaguered...
UK - ICG close to securing 25% stake in CPA
Ripe from its largest ever capital gain on the ТЃ975m Apax-Marken deal at the end of December, ICG is reportedly close to acquiring a 25% stake in CPA Global, the Jersey-based patent and legal services firm, in a ТЃ400m deal.
UK - ISIS realises part of its investment in Traveljigsaw through refinancing
ISIS Equity Partners has realised part of its investment in online travel agent Traveljigsaw through a multi-million pound refinancing, which sees Yorkshire Bank more than double the facilities available to the business.
ITALY - BC-backed Seat close to refinancing debt
Yellow page directory business Seat PG, backed by BC Partners, CVC Capital Partners and Permira, is close to reaching an agreement with its lenders, headed by Royal Bank of Scotland, to allow the group to partially refinance its EUR 2.8bn debt.
SPAIN - Providence-backed Ono to begin debt refinancing
Spanish cable operator Ono, which is backed by a private equity consortium including Providence Equity, Quadrangle Capital Partners, JP Morgan Partners and Thomas H Lee Partners, has began talks with its lenders to refinance its debt pile, which totals...
UK - Candover-backed Gala Coral asks lenders for waivers
Permira-, Cinven- and Candover-backed Gala Coral, the British gaming group, has reportedly asked for three waivers from senior debt holders, including the right to skip an upcoming covenant test.