Southern Europe
ITALY - Market remains optimistic
Speaking at the second annual unquote" Private Equity Congress in Milan today, PricewaterhouseCoopers partner Mara Caverni emphasised the cautious optimism that is currently prevailing in the Italian market, a stark contrast the trend being seen across...
UK/FRANCE - Apax sued over profit split
Apax Partners co-founder Maurice Tchenio is sueing the firm in a dispute over how profits and fees were split on deals in Europe since 2001.
ITALY - BC et al. consider Seat restructure
Market rumour suggests that the backers of Seat Pagine Gialle, BC Partners, CVC Capital Partners, Investitori Associati and Permira Advisers, are considering a EUR 250m capital expansion as part of a debt restructuring for the business.
SPAIN - Arcano invests EUR 20m into Contratas La Mancha
Arcano has invested EUR 20m into real estate developer Contratas La Mancha, taking a 44% stake in the business.
EUROPE - CVC appoints new senior adviser
CVC Capital Partners has appointed Charles-Henri Filippi as senior adviser.
SPAIN - Inveralia divests Grupo Zena
Inveralia has sold its minority stake in restaurant group Zena to an undisclosed strategic investor.
ITALY - Cape buys Duplomatic for EUR 3.5m
Cimino & Associati Private Equity (Cape) has wholly acquired industrial manufacturer Duplomatic Automazione from AXA Private Equity in a leveraged buyout valued at around EUR 3.5m.
PORTUGAL - Inter-Risco-backed NewCoffee acquires New Espresso Co
Platform business NewCoffee Co, which is owned by Inter-Risco, Inovacapital and Iberpartners, has acquired New Espresso Co, the Horeca subsidiary of coffee manufacturer Lavazza in Portugal.
EUROPE - IPEV reaffirms commitment to fair value
At a press conference in London this afternoon the International Private Equity & Venture Capital Valuation board (IPEV) emphasised its support of the fair value methodology as the best measure of assessing the value of private equity portfolio companies...
SPAIN - Talde invests EUR 1m into Neos Surgery
Talde Capital, through its fund Sendogi Capital, has invested EUR 1m into neurosurgery devices specialist Neos Surgery.
ITALY - Argos and MPS acquire Renel Care
A consortium led by Argos Soditic and MPS Venture has signed a binding agreement for the acquisition of Sorin business unit Renal Care.
ITALY - Leonardo walks away from BS deal
Banca Leonardo has decided not to honour its contract to acquire a 20% stake in BS Private Equity (BSPE).
The value of 'fair value'
Private equity firms are facing a difficult and potentially painful year-end accounting process as they adapt to the increasing requirements of fair value reporting, but there could be rewards in store for those that meet the challenge. By Ashley Wassall...
The wheel turns...
With pressure mounting on both GPs and LPs alike as the post-crunch economic decline stagnates the primary market, the cycle seems once more to have turned in favour of secondaries players. Ashley Wassall reports.
How to Pick Winners
Despite the age-old adage that backing sound management is paramount, a new study reveals that people are less important than the product.
Movers and shakers
Despite the current economic turmoil and subsequent downturn in deal activity, several areas of the private equity industry have witnessed a recruitment boom in the last month. Is this a sign of better things to come? Ashley Wassall reports.
PORTUGAL - Explorer acquires Companhia das Sandes
Explorer Investments has acquired fast food business Grupo Companhia das Sandes from the founder Pedro Luz.
EUROPE - Antin Infrastructure Partners launch announced
Antin Infrastructure Partners, a new fund management business focusing on the infrastructure space and affiliate of BNP Paribas Asset Management, announced its launch this morning at a briefing in London.
ITALY - Cape acquires Trafomec
Cimino & Associati Private Equity (Cape) has acquired industrial manufacturer Trafomec in a buyout deal valued at around EUR 11m.
SPAIN/CEE - Taiga launches EUR 50m renewables fund
Taiga Mistral has launched its second fund, targeting EUR 50m, for investments in the in renewable energy sector in Eastern Europe.
PORTUGAL - Magnum et al acquires Enersis for EUR 1.2bn
A consortium led by Magnum Capital has acquired a 90% stake in renewable energy utility Enersis from Australian infrastructure investor Babcock & Brown, in a deal valued at EUR 1.2bn.
ITALY/UK - Foresight opens Italian office
Foresight Group has opened a new office in Rome, which will be headed up by Luca Passariello.
SPAIN - 3i closes Mémora deal
3i has closed its acquisition of funerary services firm Mémora in a deal valued at EUR 187m.
SPAIN – Seed Gipuzkoa and SGECR complete EUR 3.1m trio of investments
Seed Gipuzkoa and Sociedad Gestión de Capital Riesgo de Euskadi (SGECR) have completed three simultaneous investments with a total value of EUR 3.1m