CEE
US - Blackstone buys Equity Office for $39bn in world's largest buyout
The Blackstone Group has secured the worldтs largest leveraged buyout, agreeing a $39bn price (ТЃ20.2bn) for Equity Office, the biggest office landlord in the US. Blackstone won the deal after fending off competition from real estate investment trust...
Poland - Krokus Private Equity acquires Izoterm
Krokus Private Equity has acquired a 74% stake in thermal insulation services provider Izoterm for around EUR 5m. The company’s president, Mr Józef G³adki will retain a 26% equity stake. This represents the first investment for Krokus from its new fund...
EUROPE - Return expectations of private equity investors reach record levels
The return expectations of private equity investors have strengthened significantly over the last 12 months т almost half of LPs are now forecasting medium-term returns of 16%+, according to Coller Capitalтs latest Global Private Equity Barometer, compared...
POLAND - FL Group sells Kentpol
FL Group, the private equity arm of Icelandic bank, has fully exited its investment in Polish soft drinks and mineral water company Kentpol to Refresco Holding for an undisclosed sum. Following the transaction, Kentpol will continue to produce under its...
EUROPE - Advent International announces global promotions
Advent International has announced the promotion of 13 members of its global investment team.
CEE - Private equity eyes up Bulgarian telco… again
Private equity firms are reported to be interested in the Bulgarian Telecommunications Company after Novator, the investment vehicle owned by Icelandic billionaire Thor Bjorgolfsson, brought in Lehman Brothers to advise it. Novator acquired a 65% stake...
EUROPE - European Buyout Review shows 2006 record year for private equity
2006 was a record year for European buyouts with the total value of deals topping over EUR 160bn for the first time ever, according to the latest European Buyout Review due to be published in March 2007 by Incisive Media in association with Bridgepoint....
POLAND – bmp exits Bankier pl
bmp AG has exited its remaining stake in Polish company Bankier pl. The shares were placed with institutional investors for an approximate value of EUR 3.2m.
HUNGARY - Riverside exits Salgglas
The Riverside Company has exited Hungarian manufacturer of safety glass Salgglas to CEE Industrial Holdings Ltd. The sale price has not been disclosed, but the exit generated a 4x cash-on-cash return and a gross IRR of 19%.
LITHUANIA - Mid Europa buys Baltic mobile operator for EUR 450m
Mid Europa Partners has agreed to acquire 100% of Baltic mobile operator Bité from TDC for a cash consideration of EUR 450m. Bité has generated an annual revenue growth of 20% over the past two years and the new owner is committed to the continued development...
ESTONIA - Celecure receives EUR 1.6m from four Skype founders
Ambient Sound Investments (ASI) has agreed to invest EUR 1.6m in Estonian biotechnology drug developer Celecure to accelerate the international breakthrough of its projects.
GLOBAL - SJBerwin loses three partners to Kirkland & Ellis
SJ Berwin LLP has announced that three private equity partners, Mark Mifsud, Richard Watkins and Justin Dolling, will move to rival law firm Kirkland & Ellis LLPтs fund formation team.
HUNGARY - GMT and Mid Europa sell Invitel for EUR 470m
GMT Communications Partners and Mid Europa Partners have announced that they have agreed to sell Hungary’s second largest fixed line telecoms operator Invitel Távközlési ZRt. to Hungarian Telephone & Cable Corp for EUR 470m. The two financial investors...
ESTONIA - Mid Europa's Baltic Rail Services sells stake in Estonian Railways
Mid Europa Partners-backed Baltic Rail Services (BRS) has completed the sale of 66% of the share capital of Estonian Railways (EVR) to the Republic of Estonia for EUR 150m. Mid Europa Partners owns 33.33% of BRS. Following the completion of the sale and...
EUROPE - IPES appoints Brennan as COO
IPES, a private equity fund administrator and outsourcing provider, has announced that Kevin Brennan is to take on the newly created role of chief operating officer. Brennan will be responsible for the design and delivery of the organisational structure...
CZECH REPUBLIC - AMC backs acquisition of ERA
Accession Mezzanine Capital has financed the acquisition of ERA by Rannoch Inc with a EUR 6.25m mezzanine facility. ERA, an aircraft surveillance technology company based in Pardubice, Czech Republic, was acquired by Rannoch Inc for an undisclosed amount...
POLAND – Enterprise Investors exits Opoczno
Funds managed by Enterprise Investors have sold their 46% stake in Poland’s leading ceramic tiles manufacturer Opoczno to Cersanit, a Polish ceramic sanitaryware producer. The full exit yielded gross proceeds of PLN 252m representing a 2.4x investment...
ESTONIA - MartinsonTrigon invests EUR 1m in social networking operator
MartinsonTrigon has agreed to invest EUR 1m in Rate Solutions, a Baltic social networking operator. Rate Solutions was behind Rate.ee, a social networking site with 25% of the 1.4 million population of Estonia as its users.
POLAND – ARGUS acquires GTX Hanex Plastic
ARGUS Capital Partners have acquired a majority stake in Polish manufacturer of polyethylene terephthalate (PET) performs, bottles and film, GTX Hanex Plastic, for an undisclosed sum from Montluc Holdings. Following the buyout the financial investor intends...
EUROPE - EVCA publishes 2006 benchmarking study
EVCA has published its third annual benchmarking study, a piece of research which compares the tax and legal environments for private equity and venture capital across 25 European countries.
EUROPE – Kenneth Leet to lead European Investment Team of Cerberus
Cerberus Capital Management has announced that Kenneth H M Leet has joined Cerberus European Capital Advisors as president. Leetтs previous positions include an 18-year tenure as partner in the investment banking division at Goldman Sachs.
ESTONIA - BaltCap generates 50% IRR on Ecometal investment
BaltCap has sold its significant minority position in lead battery recycling company AS Ecometal to DeltaCom Holding Ltd for an undisclosed amount. BaltCap has generated an IRR exceeding 50% on this investment.
HUNGARY – New office for Salans in Budapest
International law firm Salans has announced the opening of an office in the Hungarian capital. The office employs 12 lawyers and is led by the two partners: Tamás Tercsák and Judit Kövári.
CZECH REPUBLIC – Consortium announces largest ever Central European buyout
A consortium comprising Abu Dhabi-based Al-Bateen Investment Company, Lehman Brothers Private Equity and Mid Europa Partners has acquired Radiokomunikace and a 39.23% stake in T-Mobile Czech Republic from Altima for EUR 1.2bn. ING Bank NV provided a EUR...