DACH
GERMANY – KKR and Permira win auction for ProSiebenSat1
A consortium comprising Kohlberg Kravis Roberts & Co and Permira Advisers has acquired a 50.5% stake in German broadcaster ProSiebenSat1. The value of the transaction is believed to be over EUR 3bn. Following the acquisition, media analysts expect the...
GERMANY – PPM Capital acquires orizon AG
PPM Capital has acquired the German temporary employment agency orizon AG for approximately EUR 200m from its main shareholder GL Aktiengesellschaft, Hamburg, and other private investors. The transaction is subject to approval by the antitrust authorities.
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.
GERMANY – Access Capital Partners opens office in Munich
Paris-based private equity fund of funds specialist Access Capital Partners is opening a new office in Munich. Bernhard C Fink and Thomas Kohlmeyer who are joining the firm as partners will be heading the German office.
GERMANY - Advent to acquire the Oxo Group
Advent International has agreed to acquire Celanese Corporation’s “oxo” products and derivatives businesses for EUR 480m. The acquisition comprises the oxo chemicals and derivatives activities of Celanese and the European Oxo GmbH joint venture...
GERMANY – Macquarie raises its bid for Techem
Macquarie Infrastructure Fund II has increased its offer of EUR 44 to EUR 55 per share for the German utility billing specialist Techem AG. At the same time the financial investor increased its stake in the company by 8%, buying the additional shares...
GERMANY – NORD Holding acquires Shipbuilding Division
Hannover-based NORD Holding Unternehmensbeteiligungsgesellschaft mbH has announced it is to acquire a 70% stake in R & M Ship Technologies Group from the Bilfinger Berger Group. The management team led by CEO Joachim Buttke will hold the balance.
AUSTRIA – KKR exits remaining stake in Zumtobel
Kohlberg Kravis Roberts & Co has sold its remaining shares in Austrian lighting company Zumtobel Group. The financial investor held a 5.5% stake in Zumtobel after the company’s IPO on the Vienna Stock Exchange (ATX) on 12 May 2006. The transaction was...
GERMANY – Largest IPO in Germany this year
The German flavours and fragrances company Symrise has floated today on the Frankfurt Stock Exchange at an issue price of EUR 17.25, making it the largest IPO in Germany this year. With a freefloat of around 70%, the IPO raised approximately EUR 1.4bn...
GERMANY – WL Ross & Co completes acquisition of BST Safety Textiles
WL Ross & Co has completed the acquisition of international manufacturer of flat and one piece woven fabrics for automotive air bags, BST Safety Textiles GmbH. The transaction was announced in September 2006.
GERMANY – KKR exits its stake in Demag Cranes
Following the IPO of Demag Cranes six months ago, Kohlberg Kravis Roberts together with Siemens are selling their remaining 33.2% stake in the company. Goldman Sachs and Lehman Brothers are placing the shares in a range of EUR 33.00-33.50 with investors.
AUSTRIA – TTTech Computertechnik receives EUR 20m funding
Strategic financial investor firstVentury has invested EUR 20m in Vienna-based supplier of time-triggered systems TTTech Computertechnik AG. Additionally, international automotive company AUDI AG acquired a minority interest in TTTech.
GERMANY – Cinven pulls out of ProSiebenSat1 race
It is understood that Cinven, which had joined the Apax and Goldman Sachs consortium, has withdrawn from the auction for a 50.5% stake in German media group ProSiebenSat1. The remaining potential buyers are believed to include Turkish media giant Dogan...
GERMANY – BayBG with new MD
BayBG has announced that Peter Pauli will succeed retiring Dr Wolf Rüdiger Willig as managing director from 1 January 2007.
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. Leet’s previous positions include an 18-year tenure as partner in the investment banking division at Goldman Sachs.
GERMANY – Quadriga Capital buys back AHT Cooling Systems
Quadriga Capital has acquired a majority stake in AHT Cooling Systems for an undisclosed amount from Equita. Dresdner Kleinwort has been mandated to solely arrange the debt package comprising senior and mezzanine facilities. In 2005 Quadriga Capital sold...
GERMANY – 3i to bid for HHLA
3i has announced its interest in acquiring a minority stake in the operator of Hamburg Port Hamburger Hafen und Logistik AG (HHLA). The City of Hamburg had been seeking offers for a 49% stake in HHLA and so far reportedly received notifications from around...
GERMANY – Large buyout firms to start trade group
It is believed that some of the largest leveraged buyout firms in the US and Europe are preparing to start their own lobbying group early next year to fend off increased regulation.
GERMANY - Life Science Partners recruits Jörg Neermann
Life Science Partners (LSP) has announced that Dr Jörg Neermann will join its team as partner operating from the Munich office as of 1 January 2007. Dr Neermann arrives from DVC Deutsche Venture Capital where he was a member of the investment team,...
SWITZERLAND - Butler carves out Rhodia's European string and fibre operations
Butler Capital Partners has backed the management buyout of chemical specialist Rhodia's European fibre and string business. The buyout house took a 95% equity stake, while management retained the balance.
GERMANY – EQT-backed Symrise to float
The German flavours and fragrances company Symrise has set the bookbuilding range for its IPO next Monday between EUR 15.75 and 17.75. The company intends to float up to 81m shares, 37.8m as part of a capital increase, which, if valued at the top end...
GERMANY/FRANCE – Lafarge roofing unit sells for EUR 2.4bn
PAI Partners have acquired the roofing business of French cement giant Lafarge SA for EUR 2.4bn. The enterprise value for the acquisition consists of EUR 1.96bn of net equity and EUR 420m of debt and pension liabilities. JP Morgan and Rothschild co-arranged...
GERMANY – New partner joins Lovells in Frankfurt
M&A and private equity specialist Wolfgang Hess will leave Simmons’ Frankfurt office to join Lovells as a partner in January.
GERMANY – Francotyp-Postalia floats on the Prime Standard
Quadriga Capital has floated German mailing systems solutions company Francotyp-Postalia on the Prime Standard in Frankfurt. The share price was set at EUR 19 and 2.7 million new shares were offered as part of a capital increase, resulting in gross primary...