UK / Ireland
UK - Partial exit for NBGI Private Equity
Following a year of strong performance, Hamworthy Heating Ltd has been able to repay its full loan stock to its principal shareholders, NBGI Private Equity, enabled by new debt facilities provided by HSBC Leveraged Finance. The NBGIPE Fund will now reclaim...
UK/NL - Unilever to sell frozen food unit to Permira
Anglo-Dutch consumer products group Unilever has announced that it has signed an agreement to sell the majority of its frozen foods business to Permira for EUR 1.725bn. The transaction, which is subject to customary regulatory approvals, is expected to...
UK/ NL - JP Morgan bids for Unilever frozen foods
Following reports by the Financial Times that interest in the frozen food division of Unilever is lacklustre, reports from Reuters now suggests that JP Morgan may have made a bid for the asset.
UK - Birds Eye auction not as well attended as hoped
Sources report that only a small number of private equity firms have submitted bids to the Goldman Sach's run auction for Unilever's Birds Eye brand.
UK - Barclays Ventures backs £26m MBO of KIG Holdings Ltd
Barclays Ventures has backed a £26m management buy out of KIG Holdings Ltd, a leading supplier of secondary steelwork branded products, primarily providing safe access solutions, structural fittings and steelwork fixings.
UK - Hotbed, Quester and Bank of Scotland invest in metal-coating company
Hotbed, Quester and Bank of Scotland Corporate's Growth Equity team have led a £10m funding round for Keronite. The three investors contributed £2.7m, £1.3m and £2m respectively.
UK - Smedvig appoints new associate
Smedvig Capital has announced the appointment of Nicola Lando as a new associate. She joins Smedvig from Mercer Management Consulting.
UK - Private equity rumours surrounding SMG unfounded
The Financial Times reports that the Scottish media company, SMG, is likely to turn down last week's takeover approach from Northern Irish rival, UTV. The rumours surrounding SMG and private equity do not apparently have any serious foundations.
UK - Dubai International Capital acquires Travelodge from Permira
Permira has realised its investment in Travelodge, selling the operator of 291 hotels to Middle Eastern private equity firm, Dubai International Capital (DIC) for £675m. DIC beat private equity rivals Cinven and BC Partners and trade buyer Whitbread...
UK - Endless exits Encanta via sale to Exponent porfolio company, Magicalia
Endless has announced the disposal of Encanta Media Ltd for £2.72m to Magicalia, an on-line publishing business and one of Exponent Private Equity's portfolio companies.
UK - Dunedin backs £30m secondary MBO of Capula Ltd
Dunedin Capital Partners has announced that it has led the secondary management buyout of Capula Ltd, the UK’s leading independent provider of real time IT solutions to the energy and utility markets, from Bridgepoint. Dunedin backed the management...
UK - Paladin Associates to back Caffe Nero
The Financial Times reports that Paladin Associates is to back the founder of Caffe Nero, Gerry Ford, to take the 260-store coffee shop chain private. Caffe Nero's share price rose 11% on the news that the company had received an informal takeover approach....
UK - MFI retail deal in final stages
According to the Financial Times, the board of MFI has agreed to pay a 'dowry' to Merchant Equity Partners in order to facilitate the private equity institution taking the loss-making retail chain off its hands.
UK - Private equity targets NTL
The Financial Times reports that talks between a private equity consortium and NTL's senior management are taking place today. The consortium is led by Providence Equity and also includes Blackstone, Cinven and KKR.
UK - Terra Firma places bid for Thames Water
A Terra Firma-led consortium has placed its bid for Thames Water, the £7bn water company being sold by German power group RWE, according to the Financial Times.
UK - Apax nears final stages of its exit from The Stationery Office
The largest publisher in the UK by volume, which does much of the govenrment's printing, is the subject of an auction between three private equity bidders and two trade buyers, according to the Financial Times. The auction is now in its second round.
UK - Bridges Community Ventures invests in Chill Factor, Manchester
Bridges Community Ventures (Bridges), the UK’s community development venture capital company, has announced its investment in Chill Factor, North West England’s first indoor real snow Alpine village to be built in Trafford, Greater Manchester. Bridges...
UK - Lovells boosts private equity team in London
Lovells has continued its programme of strengthening its London private equity capability with the recruitment into the partnership of DLA Piper Rudnick Gray Carey partner Tom Whelan and Fried Frank Harris Shriver & Jacobson senior associate Stephanie...
UK - Barclays Ventures backs MBO of Sitec T&C Ltd
Barclays Ventures has backed the incumbent management team of Sitec T&C Ltd investing £5m as part of a transaction that values the company at approximately £23m. Sitec is the UK's leading independent provider of rail signalling testing and commissioning...
UK - Hermes backs Mayfair Gaming to acquire Beacon Bingo
Hermes Private Equity, together with Mayfair Gaming, has acquired Thomas Estates, the owner of three large Beacon Bingo clubs, and 24 Showboat adult gaming centres (AGCs), from the Thomas family. Deloitte and Linklaters advised Hermes Private Equity and...
UK - IPO of Cineworld back on
The Sunday Times reported yesterday that Blackstone is to revive its plans to float Cineworld, Britain's second largest cinema chain. The planned IPO was pulled in June due to market volatility.
UK - Lloyds TSB boosts acquisition finance team
Ian Brown is to join Lloyds TSB as a managing director within the bank’s acquisition finance team. In a newly formed role, Brown will head a team specifically created to target larger financial sponsors and win more lead managed underwriting roles for...
UK - NBGI Private Equity acquires recruitment business for £11.2m
NBGI Private Equity has acquired hotgroup’s traditional recruitment consultancy business for £11.2m from Trinity Mirror plc, the UK’s largest newspaper publisher. The business has been renamed ‘Ochre House’.
UK - Vision Capital acquires portfolio of companies for £76.4m
Vision Capital has announced that it has exchanged contracts for the acquisition of a portfolio of four businesses from AEA Technology Plc (AEA) for a total consideration of up to £76.4m. Completion of the transaction is subject to clearance from competition...