UK / Ireland
BGF invests £8m in UK Flooring Direct
Keith Pacey is currently chair at UK Flooring Direct and will continue in this role
Onex, GIC lead investment in $1bn Convex
GIC has made several investments in 2020, including in Klarna and Thyssenkrupp Elevator
Aberdeen secondaries fund on track for early 2021 final close
Secondary Opportunities Fund IV has raised more than half of its $500m target
Covid-19, oversubscribed funds fuel interest in early secondaries
Early secondaries are tipped to become more plentiful in the coming months, but market observers urge caution to mitigate potential pitfalls
Omers considers sale of ERM for £2.5bn – report
Omers Private Equity acquired ERM from Charterhouse for an enterprise value of $1.7bn in June 2015
Permira hires Goldman Sachs, Morgan Stanley for Dr Martens' IPO – report
Permira acquired the brand in 2013 for ТЃ300m, with debt provided by Barclays
Level 20 appoints Potter as chair
Launched in 2015, Level 20 is a not-for-profit organisation promoting gender diversity in the PE industry
LDC mandates Rothschild to sell Adey - report
LDC acquired the company in June 2016, using a тЌ60m unitranche provided by Alcentra
Dawn, Tiger Global lead $38.5m series-A in Harbr
Tiger Global is investing from its 12th-generation fund, which closed on $3.75bn in January 2020
Montagu to acquire ISI from Citic
Completion of the sale is expected next month, subject to customary closing requirements
BC to acquire Keesing from Ergon Capital, Mediahuis
Ergon invested through the тЌ350m buyout vehicle Ergon Capital III, which closed in 2010
Travers Smith selects new managing partner
Edmund Reed joined Travers Smith in 1994 and became a partner in 2005
The Deals Pipeline
A highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe
Aliter invests in Skill Pill
Aliter acquired Bolt Learning in May 2019 and later acquired Sponge in November 2019
Caledonia-backed Liberation acquires Wadworth pub portfolio
LGV Capital sold UK pub operator Liberation Group to Caledonia Investments for ТЃ118m in 2016
Redcentric ends sale process following discussions with Macquarie
Redcentric is currently trading at ТЃ123.32 per share, while it was trading at ТЃ147 on 2 September 2020
Electra hires Stifel for Hotter Shoes sale
Skelmersdale-based Hotter had revenues of ТЃ89.3m in the year ending on 31 January 2020
Speedinvest holds first close for Speedinvest x Fund 2
VC also announced the appointment of Tier Mobilty co-founder Julian Blessin as partner
360 Capital, Fuel Ventures lead $65m round for Heroes
Angel investors include Matt Robinson and Carlos Gonzalez-Cadenas, former GoCardless executives
Literacy invests in Tyrefix
Literacy Capital generally invests in companies with EBITDA of ТЃ1-5m and is sector-agnostic
Altitude exits Mortec Semiconductor for 12.6x return
Altitude acquired the company in July 2016 in a deal that valued the company at around ТЃ1m
Tikehau leads €150m investment in Amarenco
Pierre Devillard and Pierre Abadie from the private equity team of Tikehau will join the board
Livingbridge invests in Visualsoft
Livingbridge invests through its Enterprise 3 fund, which closed on ТЃ334m in October 2019
KCP invests £7m in Darts Corner
Key Capital Partners had been tracking the company for two years prior to investment