UK / Ireland
FPE sells Masstech to Genstar's Telestream
This is the second exit made by FPE Fund II, following the sale of intelligence provider IWSR to Bowmark
Inflexion buys minority stake in CMSPI
GP invests in the company via its minority-dedicated Inflexion Partnership Capital II fund
ICG acquires Lucid Group from LDC
Sale ends a four-year holding period for LDC, which invested ТЃ11m in the company in exchange for a minority stake
NVM in £10m MBO for Trust Systems
Company founders Tom Stone and Mike Dowson will remain significant shareholders in the business
Unquote Private Equity Podcast: the price is right?
Following the publication of the Q4 2020 Multiples Heatmap, Unquote welcomes Clearwater's executive team to discuss pricing trends
CVC injects £365m into Six Nations rugby tournament
Long-awaited deal finally crosses the try line, with initial approaches starting two years ago
Claris Ventures leads £15.2m series-B for NeoPhore
2Invest, 3B Future Health Fund, Astellas Venture Management and CRT Pioneer Fund also take part in the round
Permira gears up for second Growth Opportunities fund
Fund is expected to follow the same strategy as its predecessor, which closed on $1.7bn in June 2019
Passion Capital opens third fund to retail investors through Seedrs
Passion launched the fund in late 2017 and has already made 11 deals through the vehicle
The Deals Pipeline
A highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe
NVM in £18m MBO for Pareto
Deal is the seventh from NVM's Private Equity Vintage III Fund, which was raised in 2018
Bridgepoint Development Capital backs IDHL
GP is investing via Bridgepoint Development Capital IV (BDC IV), which closed on ТЃ1.5bn in September 2020
Kerogen sells Zennor Petroleum to trade
Kerogen Capital acquired a majority stake in Zennor in 2015, investing alongside Unigestion
FPE Capital backs Codestone
This is the ninth investment made by FPE Fund II, which held a ТЃ100m final close in October 2017
Qualitas launches €200m fourth fund-of-funds
Qualitas Funds IV invests in fund managers operating across the lower-mid-market in Europe and North America
Palatine backs Anthesis
Company intends to further boost its growth both organically and via strategic acquisitions
Agilitas 2020 Private Equity closes on €565m
Fund focuses on mid-market companies across western Europe, within a range of sectors
Ropes & Gray adds partner, counsel to private funds team
Emily Brown joins the law firm as partner, while Chris Townsend is hired as counsel
Inflexion buys minority stake in Systal
Investment in the managed IT network service is the GP's third deal to be announced in March 2021
Majority of LPs happy to commit without in-person meeting – survey
Cebile Capital survey finds that 51% of respondents expect to increase PE commitments in 2021
Quantifying PE's appetite for recurring revenue models
Buyouts in sectors where recurring revenue models are predominant went from 8% of European volume in 2010 to 22% in 2021 to date
LDC buys Sohonet from FPE Capital
With LDC's support, the company intends to boost its international growth and explore complementary acquisitions
BGF-backed TIG bolts on ThirdSpace
Acquisition of the cybersecurity and identity firm is backed by BGF and Santander Growth Capital
BGF invests in Leeds company Northern Building Plastics
GP's backing will help the company expand its service, delivery capability, and product range