Southern Europe
ITALY - Cornell Capital bids for medical technology business
US firm Cornell Capital Partners is rumoured to have placed a bid for Sorin, a Milan-based medical technology business, according to Italian press reports.
SPAIN - Private equity frenzy in renewable energy sector
Spanish buyout house Qualitas Equity Partners (QEP) is understood to have started marketing Q Energy, a EUR 300m fund to invest in wind energy projects.
GLOBAL - KKR to float
KKR is to follow in the steps of its rival Blackstone by floating on the New York Stock Exchange. KKR filed an initial public offering registration with the SEC on Tuesday and will seek to raise $1.25bn in new capital from the flotation. However, unlike...
SPAIN - Aurica XXI buys stake in plastic bag manufacturer
Aurica XXI, the private equity arm of Banco Sabadell, acquired a 20% shareholding in Grupo Intermas Nets.
PORTUGAL - Inter Risco establishes outsourcing business
Alongside a group of investors, private equity firm Inter-Risco purchased a stake in Accountec, a newly-established company which will operate in the business process outsorcing sector. The total transaction value is EUR 4.5m and the backers will leverage...
ITALY - Cape Live Investment fund to float on 19 July
Cape Listed Investment Vehicle in Equity (Cape Live) is to list up to 40 million shares as part of a capital increase on the Milan Stock Exchange. Trading is expected to start on 19 July, at an issue price of EUR 1.05 per share. From 2 July to 13 July...
GLOBAL - GE chairman keeps the pressure on private equity
In comments to the UK press, Jeffrey Immelt, the chairman of GE, has added his voice to the sceptical chorus surrounding private equity in recent months. His argument is based on a critique of the industry that sounded like the idiots guide to a buyout...
GLOBAL - $48.5bn deal for BCE the largest ever
The investment arm of the Ontario Teachers' Pension Plan, Teachers Private Capital, has joined forces with Providence Equity Partners and Madison Dearborn Partners to acquire BCE, Canada's largest telecom group. The $48.5bn price-tag will make it the...
SPAIN/FRANCE - CVC calls on cov-lite debt ahead of Altadis bid
CVC Capital Partners has reportedly secured EUR 12.8m in covenant-light debt to support its bid to acquire Franco-Spanish tobacco business Altadis, according to press reports.
ITALY - Carlyle acquires Palazzo Tergesteo in Trieste
The Carlyle Group has acquired Finrex S.p.A., owner of Palazzo Tergesteo in Trieste, from Associazione Cassa Nazionale di Previdenza ed Assistenza a Favore dei Ragionieri e Periti Commerciali. Carlyle is investing in this project through its second European...
SPAIN - Banesto Enisa Sepi Desarrollo invests in Global Events ID
Madrid-based private equity firm Banesto Enisa Sepi Desarrollo has acquired 25% of event organiser Global Events ID Corporation.
SPAIN - Codere plans IPO, but will consider options
Gambling business Codere has finally decided to approve its flotation, forecast to happen in the next few weeks. However, the company is said to be in talks with a group of private equity firms and will consider to remain private instead. Another option...
SPAIN - Zenon Capital enters the market
The family Ventura has established its own private equity vehicle, Zenon Capital. The new firm has total capital of EUR 3m.
SPAIN - Nmás1 and Dinamia holding high hopes for HIgh Tech IPO
Rumour has it that Nmás1 and Dinamia have hired Credit Suisse to prepare the flotation of hotel chain High Tech. The IPO will probably see the listing of a 60% shareholding (a stake equal to the company's portion owned by the GPs) and will aim to raise...
SPAIN - Corpfin Capital acquires tour operator Catai
Private equity firm Corpfin Capital has completed the acquisition of a 50% stake in travel business Catai Viajes. The remainder will be held by the family Torres, the founder of the group, and the current management team.
ITALY - Sicurglobal auction to finalise in July
Market sources speculate that the competitive process for security business Sicurglobal should end in the second week of July. It is understood that private equity firms Stirling Square Capital Partners, Cognetas, 21 Investimenti and Synergo - all owners...
ITALY - Alcedo and Unicredit exit MiniGears
Private equity firm Alcedo and Unicredit have sold manufacturer MiniGears SpA to sector player Carraro Group.
EUROPE - Schühsler replaces Loizaga as EVCA chairman
TVM Capital's managing partner Helmut Schühsler was officially elected as EVCA chairman for the period June 2007 to June 2008.
EUROPE - EVCA defiant on difficult day for private equity
The mood at the EVCA Symposium held in Rome today was defiant. On the day that the BVCA CEO stepped down the voices on this side of the Channel were clear: "Politicians should be careful what they wish for," warned Philippe Costeletos from Texas Pacific...
EUROPE - EVCA to change its set-up
The European Private Equity and Venture Capital Association (EVCA) today announced at its annual conference in Rome that it is to become an umbrella for three independent groups dealing with large buy-out houses, mid-market buy-out companies and venture...
EUROPE - EVCA stats show record 2006 fundraising and investment
Final figures for European private equity activity and performance were announced by EVCA today, confirming a booming buyout industry and continued UK dominance. The figures also showed something of a revival for European venture, with €17bn allocated...
SPAIN - Clave Mayor and Möbius invest in Vivotecnia
Clave Mayor and Möbius Corporate Venture Capital have acquired 100% of Vivotecnia Research alongside the management and private investors. Additionally, a capital increase has been made to allow the purchase of new installations.
ITALY/AUSTRIA - Riverside sells PPC to Seves Group
The Riverside Company has sold insulators manufacturer PPC Insulators to Italian Seves Group. Following the transaction Vestar-backed Seves is expected to record revenues of more than EUR 400m.
ITALY - ElectroPS receives backing from 360º Capital Partners
Venture house 360º Capital Partners has agreed to provide total funding of up to EUR 5m to energy sector business Electro Power Systems (ElectroPS) in return for a minority stake.