CEE
Turbo-charged: How leverage is powering up secondaries
The use of leverage in secondaries has soared, as funds are continually seeking new ways to boost spending power
Advent International in €1.91bn Zentiva carve-out
GP to buy generics business division Zentiva from French biopharmaceutical company Sanofi
CEE exit activity picks up in Q1 as buyouts drop
First quarter saw a significant drop in both buyout volume and aggregate value in the region, though the number of exits is up, year-on-year
Actera, Esas exit UN Ro-Ro in €950m trade deal
Danish ferry company DFDS Group is acquiring a 98.8% stake in UN Ro-Ro on a debt-free basis
Eos Venture Partners launches $100m debut insurtech fund
Vehicle has raised $30m from two insurance companies to date and will have a global remit
CVC-backed Avast to float on London Stock Exchange
Listing would result in a free float of approximately 25% of Avast's issued share capital
European Commission launches VentureEU
VentureEU is a venture capital funding programme backed by €410m in fresh funding from the EU
PE-backed Sok readies for Istanbul IPO
Trading on the Instanbul stock exchange is expected to commence in May 2018
Mediterra sells ACP to Howden
Deal ends a four-year holding period under Mediterra, after the GP acquired the firm in April 2014
European fundraises off to healthy start in 2018
Number of fund closes and aggregate capital raised in Q1 is roughly on par with the same period last year, but short of the strong start to 2016
Ontario Teachers' chief investment officer Graven Larsen resigns
Graven Larsen joined Ontario Teachers' in February 2016 and led the fund's global investment programme
Innova holds €194m first close for sixth buyout fund
GP exceeded its minimum target of €150m and has raised 60% of the hard-cap, set at €325m
Eversheds hires Karwacki from Squire Patton Boggs
Michal Karwacki will be working as a partner in the law firm’s corporate practice group
Arx makes 11.8x on €53m Vues trade sale
Divestment of Vues generates an overall 11.8x cash-on-cash return multiple and an IRR of 30%
3TS exits MammothDB in trade sale
GP provided a €1.6m round of funding for MammothDB in May 2015 along with Empower Capital
Secondary buyouts hit 10-year low in Q1
Proportion of deals sourced from fellow PE firms has ebbed back to the level last seen in 2007, according to Unquote Data
European entry multiples hit new high in 2017 despite Q4 cooldown
Average EBITDA multiple increased to 10.4x in 2017 compared with 10.2x in 2016, according to the latest Clearwater Multiples Heatmap
Enterprise Investors acquires 65% stake in Pan-Pek
Transaction is the final investment made via the GP's Polish Enterprise Fund VII
Mega-buyout volumes hit post-crisis Q1 high
Combined with Q4 2017, the past six months have represented the most active consecutive quarters for €1bn-plus buyouts since 2007
Novalpina to acquire 64% stake in Olympic Entertainment
Novalpina made an offer of €1.90 per share in a deal valuing the online casino operator at €288m
BPM Capital backs DenEesti MBO with mezzanine
With the capital injection, DenEesti will start operations in new ports along the Baltic sea
EIF’s push into private capital management
The European Investment Fund is aiming to raise up to €2.1bn in private capital for a new investment platform focused on venture and growth vehicles
PE-backed Sok to list on Istanbul Borsa
Listing could comprise up to 35% of shares, with the IPO reportedly set to complete in May
Annual Buyout Review: Lower-mid-market momentum lifts dealflow
Unquote's lastest Annual Buyout Review is now available to download for subscribers, offering in-depth statistical analysis of 2017 activity
