UK / Ireland
UK - Sitka Health Fund VCT plc announces positive performance
Sitka Ltd, manager of the Sitka Health Fund VCT (Sitka VCT) has announced results for the year ending 31st January 2006, with the net asset value per ordinary share reaching 89.7p. It has invested a total of £7.2m in 16 different companies and has managed...
UK - Barclays Capital appoints new head of corporate communications
Barclays Capital has announced the appointment of Siobhan Loftus as a director and head of corporate communications. She will be responsible globally for public relations, internal communications, advertising and brand. She will also be responsible for...
UK - August Equity backs MBO of Rixonway Kitchens
August Equity has announced that it has supported the management buyout of Rixonway Kitchens Ltd via the newco Rollfold Group Ltd for an undisclosed sum. This is the eighth investment from August Equity Partners IV.
UK - Esporta bidding for golf course business The Club Company
The Times reports that The Club Company (TCC), the golf and country club business, owned by Legal and General Ventures has three to four bidders left in the running to acquire it.
UK - Bridgepoint seeks exit from All3Media
All3Media, the television production company formed in 2003 by Bridgepoint's backing of the acquisition of Chrysalis Group's television division, is the subject of a bid by DLJ Merchant Banking Partners. The bid by the private equity arm of Credit Suisse...
UK - Legal Services Bill presents new opportunities for private equity?
Last week's Legal Services Bill could lead to law firms receiving private equity investment, according to a report from The Lawyer.com. Taylor Wessing has become the first firm to reveal that it is considering selling an equity stake to private equity....
UK - USS considers £6bn move from equities to alternative assets
The UK's second biggest pension fund, the Universities Superannuation Scheme (USS) is considering a major £6bn shift from equities into alternative assets, according to the FT.
UK - Permira to float Hogg Robinson
The Sunday Times reported on the expected IPO of Hogg Robinson over the weekend. Permira took Hogg Robinson private in a 2000 deal worth EUR 640m and now intends to return it to the stock market through a 'competitive' IPO. This controversial route to...
UK - Private equity rumours continue to surround Britvic
Following rumours last week that poor sales at Britvic had sparked private equity interest in the underperforming soft drinks manufacturer, further reports have emerged today linking PAI to Britvic.
UK - PAI Partners bid for Cleanaway UK
Cleanaway UK, one of the UK's biggest waste management companies, has shortlisted about six bidders including French private equity company PAI Partners, in the final stages of its auction.
UK - CVC to back MBO of Helphire?
The Financial Times reports that CVC Capital Partners has been in talks with Helphire, a Bath-based company that provides replacement vehicles for drivers who claim to be the innocent victims of car accidents. Talks between Helphire and CVC are understood...
UK - Speculation about the future of Britvic
Soft drinks manufacturer Britvic issued its third profit warning in three months sparking a flurry in trading of the company's shares yesterday. Despite the dismal performance and volatility in the carbonated drinks market, Britvic shares closed 17.75p...
UK - Nigel Beer takes minority stake in Hotbed
Nigel Beer, former head of KPMG's corporate finance division in London, has taken a minority stake in Hotbed. He will take on the role of non-executive director of the private investor network, but remains active as a consultant for KPMG.
UK - Shaun Beaney joins BDO as deal origination manager
Shaun Beaney has joined the corporate finance department at BDO Stoy Hayward as deal origination manager. Beaney arrives at BDO from the Institute of Chartered Accountants in England and Wales (ICAEW) Corporate Finance Faculty, where he was business development...
UK - Telent to be taken private by Fortress Investment
Telent has been offered 529.5p per share by the US private equity firm Fortress Investment according to a report in today's Times. The deal will value Telent, the only part of former industrial giant Marconi that remains independent, at £346m. Ericsson...
UK - Barclays Ventures exits Canada Square Health and Fitness Ltd
Barclays Ventures has completed the sale of Canada Square Health and Fitness Ltd, the operator of the prestigious 'Reebok Sports Club London' in Canary Wharf, to an overseas private investment group for an undisclosed amount.
UK - FT analyses PIK financing trend following refinancing of New Look
Following a further round of financing of New Look yesterday, which included approximately £350m worth of PIK notes, the Financial Times has today published an article analysing the increasing use of payment-in-kind loans. These are increasingly used...
UK - Caledonia backs management buyout of Celerant Consulting
The management of Celerant Consulting, the global operations management consultancy based in Richmond, UK announced that they have agreed with Novell Inc, to acquire Novell’s majority shareholding for a total of approximately $77m. As a result of the...
UK - Wragge & Co appoints fifth partner
Wragge & Co LLP has boosted its private equity practice with the appointment of Ian Piggin as its fifth partner.
UK - 3i set to re-enter baby product market with offer for Mayborn
3i has announced that it has made a recommended offer to Mayborn Group Plc, the manufacturer and distributor of Tommee Tippee baby and Dylon fabric dye brands. The offer values the business, which has a turnover of over £80m and is currently listed on...
UK - Hellman & Friedman set to announce £550m buyout of Gartmore
US private equity firm, Hellman & Friedman, is reported to have backed the management buyout of fund management group Gartmore. The £550m deal is expected to be announced today following seven months of negotiations, according to The Daily Telegraph.
UK - LDC backs buyout of PayStream
LDC has backed the MBO of PayStream, for an undisclosed sum. LCD has acquired a significant majority of shares in the accounting and payroll service provider.
UK - Red Diamond Capital set to acquire Avon Rubber's automotive business for £63m
The Financial Times reports today that Red Diamond Capital has arrived at a conditional agreement with Avon Rubber to purchase its automotive business. Red Diamond Capital will back management in a deal worth £63m.
UK - Bank of Ireland announces strong Q1 for corporate banking
Bank of Ireland Corporate Banking today announced the completion of deals in excess of £400m in the first quarter of 2006. Corporate Banking completed financing for companies in a diverse range of sectors including retail, support services and financial...