UK / Ireland
UK - Local authority appetite for private equity hots up
The West Midlands' Metropolitan Pension Fund is to commit in excess of £500m to private equity. The £7.7bn pension fund will be upping its allocation to private equity to 7% making it the UK's largest local authority investor in the asset class.
UK - Graham Keniston-Cooper to lead Morgan Stanley Private Equity in Europe
Morgan Stanley has hired Graham Keniston-Cooper to run its private equity business in Europe. Keniston-Cooper will build a London-based private equity team running third party funds.
UK - Tense days for Terra Firma's EMI bid
Terra Firma faces a few tense days before Sunday's cut off point for EMI shareholders to accept its £2.4bn agreed offer for the London-listed music publisher. Terra Firma needs to secure 90% of acceptances by Sunday. The figure is currently understood...
UK - Bank of Scotland makes £320m indicative offer for Erinaceous
Bank of Scotland has made an indicative offer for property services business Erinaceous Group Plc. The 300p per share offer values the London-listed company at approximately £320m. Bank of Scotland is carrying out due diligence ahead of a formal offer.It...
UK - JC Flowers expected to swoop on Friends Prov and Resolution merger
Private equity is expected to swoop on the £8bn tie-up between UK insurers Friends Provident and Resolution. JC Flowers, the US private equity group, has been named in association with a break-up bid. It has looked at a potential takeover of Friends...
UK - Barclays Ventures expands investment team
Barclays Ventures has expanded its investment team with three new hires. Eddy Dempsey has been appointed senior associate director whilst Rachel Boomgaardt and James Savage join as investment managers. All three will be based at Barclays Ventures' head...
UK - ECI-backed wireless networks company makes £24m acquisition
ECI Partners portfolio company Aerial Facilities (AFL) has acquired its Swedish-based competitor, Avitec AB for up to £24m. Avitec was formerly owned by CapMan, 3i and a number of private investors. AFL designs, manufactures and installs specialist products...
UK - 3i acquires financial adviser Bestinvest
3i has acquired independent investment managers and financial adviser Bestinvest. The terms of the acquisition are not disclosed. The deal enables the founder of Bestinvest to realise some value from the company which he established in 1986. Financial...
UK- Private Advisors opens London office and hires Jens Bisgaard-Frantzen
Private Advisors , a private equity and hedge fund investment firm specialising in advising institutional investors and wealthy individuals, has opened a London office. Jens Bisgaard-Frantzen has also been hired as the chief executive officer of Private...
UK - YFM Group Backs £21m buyout of The RMS Group
YFM Group has completed its biggest single deal with £5.5m of funding to support the £21m buyout of shipping and logistics specialist RMS Group. YFM has invested from several of its managed funds: the Chandos Fund, Partnership Investment Finance, and...
UK - Pret in private equity sights
Sandwich shop chain Pret A Manger has had unsolicited approaches from Lion Capital, Bridgepoint and PPM according to press reports over the weekend. Pret was prepping for an IPO, after hiring investment bank NM Rothschild early this year to advise on...
UK - Maximilian Bleyleben is promoted to partner at Kennet Partners
Kennet Partners, the technology growth investor, has promoted Maximilian Bleyleben to partner. In his new role, Bleyleben will continue to originate and manage growth equity investments and buyouts in the software, IT services and digital media markets...
UK - 3i invests in listed Venture Production
3i, alongside ArcLight Capital Partners, has invested in oil and gas firm Venture Production. The total investment of over £200m consists of newly issued convertible unsecured bonds, the conversion of one of ArcLight's existing joint investments with...
UK - Noble Denton acquires Poseidon Maritime
HitecVision portfolio company Noble Denton, the global offshore and marine cosulting firm, has acquired Poseidon Martime, a marine service company, for £2.4m. The acquistion will create a major marine and marine safety consultancy service, primarily...
UK - Accel, Advent and Atlas back Ubiquisys with $25m series-B funding
Accel Partners, Atlas Venture and Advent Venture Partners have been joined by Google on a $25m series-B funding round for Ubiquisys Ltd. Ubiquisys is a pioneer of intelligent 3G femtocell access points for the residential market. The Ubiquisys ZoneGate...
UK - Synergis commits £500,000 to Warwick Audio Technologies
Synergis Technologies and Mercia Technology Seed Fund have committed £500,000 to Warwick Audio Technologies Ltd. A spinout from the University of Warwick, Warwick Audio has developed an innovative mid-range loudspeaker that is ultra-thin, lightweight,...
UK - Apax in the running for Loot?
Daily Mail and General Trust is reported to be selling classified advertising magazine Loot. Apax the co-owner of the Autotrader classified magazine brand with Gaurdian Media Group is understood to be interested in the title. Loot was valued at £190m...
UK - Private equity gears up for Ford's UK assets
One Equity Partners, Ripplewood Holdings and Cerberus Capital Management are amongst the private equity groups gearing up to make bids for Ford's UK assets. Ford is selling off Jaguar and Land Rover to slash its debts. Trade interest in the deal is limited...
UK - Endless acquires Homebuy in £22m buyout
Endless has acquired electrical and household goods supplier Homebuy in a £22m management buyout. Homebuy had a market capitalisation on AIM of £100m before entering administration in September 2006. Endless's investment alongside debt provided by Landsbanki...
UK - IQ Capital leads series-D funding round in OnRelay
IQ Capital has lead a Series-D funding round in OnRelay Inc. OnRelay is a London-based pioneer in fixed mobile integration with a patented market leading solution for mobilising corporate phone systems. IQ Capital invested alongside Richard Cunningham,...
UK - Alchemy acquires holiday park operator from Phoenix for £83m
Alchemy has acquired South West holiday park operator Weststar Holdings Ltd from Phoenix Equity Partners in an £83m transaction. Alchemy completed the deal through its portfolio company ParkDean. ParkDean was delisted by Alchemy in a £230m deal in May...
UK - The Capital Fund leads £700,000 investment in online tool
The Capital Fund has led a £700,000 investment in CInergy International, an online tool which acts as a customer acquisition and retention specialist. The Capital Fund committed £250,000 alongside £472,000 from business angels.
UK - Path clear for Terra Firma's EMI bid
Terra Firma's bid for EMI will not be facing competition from Warner Music. The rival music group has decided to drop its seven year pursuit of EMI.
UK - Advent International appoints interim advisory board for Lloyds TSB Registrars
Advent International has appointed an interim advisory board pending completion of its acquisition of Lloyds TSB Registrars. Advent won an auction for the share registration business in May of this year paying £550m to secure the deal from vendor Lloyds...