Southern Europe
3i exits Panreac via trade sale
3i has completed the exit of its Spanish chemicals business Panreac via a trade sale to Illinois Tool Works Inc (ITW).
Valbart sale brings first exit for 21 Investimenti II
21 Investimenti, the Franco-Italian mid-market later stage investor, has sold Italian oil and gas engineering firm Valbart to listed US business Flowserve.
New compromise suggested on AIFM Directive
As Europeтs politicians return from the summer recess, negotiations over the final shape of the Alternative Investment Fund Managersт (AIFM) Directive have resumed. A revised compromise on the Directive, issued by the new Belgian presidency, will now...
Great expectations
Itтs always interesting to gauge the mood of private equity practitioners and their expectations after the summer break. Two years ago, when the financial markets were in disarray following the Lehman collapse, deal activity came to a standstill and then...
Private equity dines on restaurants
Burger King, one of the worldтs biggest fast food brands, is set to become private equity owned yet again. The $4bn acquisition will be one of private equityтs biggest forays into the catering sector, but interest in restaurants has remained strong throughout...
Candover story: Media picture lacks clarity
The announcement by Candover Investments plc that it is abandoning new investments to focus on returning cash from the sale of its remaining portfolio assets has certainly grabbed many headlines in recent days. But is the mainstream press sensationalising...
Q&A: The evolution of due diligence
Due dilience can be a time consuming process, and seems to be taking longer since the crisis. Emanuel Eftimiu talks to Dr Joachim Scholz of Rothgordt & Cie about the increased emphasis on due diligence in the current environment.
3i mulls over possible GES sale
3i Group has hired Citigroup to conduct a strategic review of Spanish wind farms builder Global Energy Services (GES).
Take-privates: Playing hard to get?
Shares in troubled care provider Southern Cross leaped 67% late last week after it declined an approach from TowerBrook. Having suffered a massive fall in its share price this year, it may have seemed an easy target for private equity bidders, but has...
unquote" Events Roundup
As autumn approaches, unquoteт has a busy schedule of events covering all aspects of the private equity industry, while providing excellent networking opportunities. With the Italia and Deutsche conferences rapidly approaching, and not forgetting the...
CalPERS private equity manager steps down
Leon Shahinian stepped down as head of the private equity portfolio at CalPERS amid a fraud lawsuit.
Dealflow: Autumn boom expected after slow summer
As the summer holiday season draws to a close, Europeтs private equity market is set to pick up. While activity has slowed significantly in some regions, industry players are expecting a deal-doing boom in the coming weeks and months.
Exits: Private equity IPO prices fall
With a number of high-profile exits so far this year, selling companies has been a hot topic, particularly after the many difficulties of 2009. However, the IPO market has been difficult for private equity players, and new figures show just how tough...
Exits: Carving out value
With exit maximisation key in todayтs economically unstable times, a number of private equity funds have recently chosen to sell their assets in smaller chunks, in the hope of attracting more specialist buyers. John Bakie reports
Luxury brands: Private equity's leadership challenge
Towerbrookтs plan to sell Jimmy Choo this year for an estimated ТЃ500m, more than twice its value three years ago, highlights the significant benefits that can be reaped from investing in the luxury apparel sector. However, the deal also brings to the...
Banks seek to make hay while the sun shines
Looking around Europeтs buyout markets, it is clear that some banks are well and truly back in the game. But the recent rise in deal completions, including those at the top end of the scale, masks an altogether more complex marketplace. Julian Longhurst...
Atlantic-Pacific Capital hires Sandström as partner
Atlantic-Pacific Capital has hired Sarah McFadden SandstrУЖm as a partner in its Private Funds business, in a bid to bolster its European project management and advisory services.
Money to burn?
Instead of the expected, traditional summer lull in activity, the unquoteт editorial team has been busy reporting on a continuous stream of deal announcements and rumours over the past fortnight. While it is difficult to put any exact number on deals...
Blockbuster season
The industry is certainly in better shape than 12 months ago. The latest unquoteт Private Equity Barometer confirmed the sentiment, showing total private equity investment has more than doubled to тЌ25.5bn in the first half of the year compared to H1...
Second nature
News of institutions cutting back on their private equity exposure by offloading their private equity assets has interrupted the lull in deal activity that one is more accustomed to during this time of year.
Solvency II criticised for 'inappropriate' stress test
European regulators have come under fire for choosing an тinappropriateт way to measure the stress caused by private equity investments on insurance companies. Research from Partners Group suggests the regulatorтs favoured method of calculating private...
Gilde Healthcare III secures Philips commitment
The recently launched Gilde Healthcare III fund has attracted Royal Philips Electronics as a cornerstone investor.
Balta Group buys Domo's flooring unit
Doughty Hanson's Belgian portfolio company Balta Group has signed a deal to buy Domo NV's floor covering business.
ICG buys RBS €1.4bn credit portfolio
Intermediate Capital Group (ICG) has signed a deal to acquire the Royal Bank of Scotlandтs (RBS) тЌ1.4bn portfolio of European loans.