Southern Europe
Mid-market valuations at highest level ever in latest Argos index
Sharp increase in prices paid by strategic buyers push the median entry multiple to 9.5x
Deal in Focus: Ardian merges Spanish bakeries Berlys and Bellsolà
Ardian's investment in Berlys and Bellsolà forms part of a consolidation play in the European frozen food industry
Ardian's Italmatch bolts on Detrex
Offer values the listed US target at $42.5m, based on the offer price of $27 per share
Kennet Partners sells Telemedicine Clinic to trade
Deal was the first investment for the GP's Guernsey-based third fund, Kennet III
Caixa Capital Risc leads €2.4m round for GlyCardial
Spanish healthcare seed investor HealthEquity takes part in the funding round
Keensight hires Moras as associate director
Javier Lopez Moras previously worked in Montalbán's Madrid office and DC Advisory in London
Star Capital exit Codyeco via trade sale
GP exits its 95% stake in the Italian dyes business after a four-year holding period
Ardian buys Berlys and Bellsolà
Following the merger, the new group expects to generate €300m in revenues with 1,700 employees
Portobello IV hauls in €570m, nears €600m hard-cap
Spanish GP eyes a final close on its fourth fund's €600m hard-cap before year-end
European SBOs reach record levels in first three quarters
Europe sees 202 secondary buyout deals between January and September, surpassing the peak of 200 seen in Q1-Q3 2007
Caixa, Sabadell lead €1.3m round for Snappy
Mobile application developer intends to raise an additional funding round within two years
Ardian set to back Berlys SBO
GP will acquire the bakery in a deal valued in the €450-500m EV range, equating to a 10x EBITDA multiple
Gala Capital buys 30% stake in Beka Finance
GP is understood to have taken its stake in the business as part of a capital increase
PE-backed Imprima bolts on Set
GP acquired the textile printing business via its €215m fourth fund, Wisequity IV, in March 2016
Volume of PE-backed IPOs already up 25% year-on-year
Initial public offerings have proven to be a more popular exit route this year, although a lack of mega IPOs means aggregate value is still lagging
Pillarstone to gain control of RBD Armatori
Announcement follows the fund's acquisition of €560m of the company's debt in July 2017
JZ Capital reaps 9.2x cash on Factor sale
Fund manager received €69.7m of gross proceeds from the sale of the Spanish energy supplier
OpCapita carves out footwear retailer Merkal
Deal is the third investment in Spain for OpCapita, which invested via its second buyout fund
Vivocha sold to Aksía's Covisian
Deal sees Italian venture capital houses Principia and Vertis fully exit the business
Spain sails with fundraising tailwind
Increased appetite from LPs reflects a continually improving macroeconomic picture in Spain, despite signs that the recovery is slowing
Ardian's Italmatch buys Sudamfos do Brasil
Deal follows Italmatch's acquisition of Compass Chemical International in North America
Alantra buys MD Moldes
MD Moldes founder Manuel Domingues retains a 30% stake and remains CEO
Q3 Barometer: Market pauses for breath
European dealflow slows down compared with previous quarter but remains at historically elevated level
Eurazeo sells 3.34% stake in Moncler for €208m
Deal generated €188m of net proceeds for the fund manager, which will retain a 5.31% stake