UK / Ireland
UK - Bidding war pushes ABP shares to 850p
The Financial Times reports today that Goldman Sachs has raised its offer to Associated British Ports from 810p to 840p per share as competition between its consortium and that led by Macquarie intensifies.
EUROPE - EVCA stats show returns improved in 2005
The European private equity industry’s final performance figures for 2005 show steadily improving returns across all parts of the industry. The long-term returns have now increased to more than 10% due to the improved performance of short-term returns...
EUROPE - EVCA appoints new chairman
At the annual ordinary general assembly of the European Private Equity and Venture Capital Association (EVCA) last night, Javier Loizaga, CEO and Managing Partner of Mercapital, was officially elected as association chairman for the period June 2006 to...
EUROPE - EVCA reports 2005 a record year for private equity
EVCA has announced the final fundraising, investment and divestment figures for European private equity in 2005 at its annual Symposium in Monte-Carlo. The annual figures show records for all three stages of activity in the industry. After three years...
UK - The Capital Fund invests in mobile games innovator
Telcogames Ltd, a global publisher, developer and distributor of mobile games, has raised initial expansion funding from The Capital Fund to strengthen its publishing activities in smartphone gaming.
UK - Southern Cross to delay IPO
The Financial Times reports today that Southern Cross Healthcare is the latest company to decide to delay its floatation due to the recent retreats in the stock markets.
UK - Macquarie-3i consortium tries to thwart Goldman ABP deal
The board of Associated British Ports yesterday approved the Goldman Sachs consortium's bid offering 810p per share. Within hours Dresdner Kleinwort Wasserstein, acting on behalf of the Macquarie-3i consortium purchased shares in the market at a price...
UK - Coller Capital unveils its Summer Barometer 2006 findings
The Coller Capital Global Private Equity Barometer Summer 2006 was released on Monday revealing that whilst LPs remain committed to private equity they are becoming increasinly discerning. Over the last three Coller Barometers, the proportion of investors...
UK - MFI auction reaches second round
The second-round auction of MFI Retail will begin on Friday according to the Financial Times. Further details of the sale of the struggling furniture business have now emerged.
UK - Chronicle Solutions receives £3m 3i backing
3i has led a £3m series-A investment in Chronicle Solutions along with syndicate partners Scottish Equity Partners and Societe Generale Asset Management Alternative Investments. As part of the deal, Nick Kingsbury, sector partner at 3i, is appointed...
UK - 3i generates 43% IRR from sale of builders' merchants
3i has sold its minority stake in Belfast-based JP Corry Group, one of the largest independent builders’ merchants in the British Isles, to Saint-Gobain Building Distribution. 3i originally invested in JP Corry in 1996 and further supported the acquisition...
UK - Refinancing of Manchester United debt
Financial News reports that Och-Ziff Management and Perry Capital, the two private equity firms who along with the Glazer family own Manchester United, are considering a refinancing of the £540m debt they took out in order to purchase the football club.
UK - Hotbed recruits two new investment professionals
Hotbed has appointed Tim Lawrence and Russell Pope as private equity investment directors to spearhead its activities in London and the South East.
UK - Rothschild leads bid for MFI Retail
The Times today reports that Rothschild has joined forces with Merchant Equity Partners to launch a bid for the retail division of MFI. The ailing retail arm of MFI Furniture recorded losses of £85m in 2005 and it is thought that the vendor will have...
UK - Jefferies hires Alex Hofman from Credit Suisse First Boston
Jefferies International Ltd, a subsidiary of US-based Jefferies Group Inc has announced the appointment of Alexander Hofmann as a director of Jefferies Broadview, the bank’s technology investment banking practice. Alexander Hofmann will be based in...
UK - KPMG survey returns anxiety
The Financial Times reports that a survey to be released today by KPMG's Corporate Finance practice that relates industry concern over the over-leveraging of buyout deals. Over 70% of private equity companies agreed that many deals had become too high...
UK - Permira and Barclays Capital team up in bid for retirement home builder
McCarthy & Stone, the builder of retirement housing, is the subject of competing bids from two consortiums who both see promising returns from this sector thanks to the ageing population, despite the fact that McCarthy has struggled recently.
UK - Misys the latest take-private target
The Sunday Times and the Financial Times have both reported that the healthcare and financial-services software firm Misys is being circled by private equity firms following its announcement on Friday that it is the subject of a possible management buyout.
UK - Hedge funds competing against private equity for Photo-Me
Photo-Me has received interest from Bain Capital and Warburg Pincus over the last week.
UK - Blackstone and CapVest court Unilever's frozen foods
Unilever is selling off its frozen foods division in an auction which is expected to value the Birds Eye and Findus producer at approximately £1bn, according to the Times. The auction is being run by Goldman Sachs with Blackstone and CapVest favourites...
UK - Blenheim Advisors expands team
Blenheim Advisors, the provider of leveraged debt advice, has recruited David Parker as an executive director and Romain Lanier as an associate.
UK - Close of Caudwell deal approaches
Caudwell, the phone group which includes the Phones 4 U chain, is now in exclusive negotiations with BAIN Capital and Doughty Hanson according to the Times. John Caudwell is selling the Carphone Warehouse's main rival for a figure thought to be close...
UK - TutorVista secures £1.1m funding from Sequoia Capital
TutorVista, a leading online personal tutoring service, today announced it has secured £1.1m in series A round funding. The round was led by Sequoia Capital India, who have also funded Google and includes prior angel investors.
UK - Costcutter backed by Kaupthing
Kaupthing Principal Investments has completed an investment in Costcutter, the convenience food retailer, in a transaction that values the group at approximately £100m. Kaupthing has taken a 20% stake in Costcutter as a result of the deal.