Industrials
ITALY - BC-backed Seat close to refinancing debt
Yellow page directory business Seat PG, backed by BC Partners, CVC Capital Partners and Permira, is close to reaching an agreement with its lenders, headed by Royal Bank of Scotland, to allow the group to partially refinance its EUR 2.8bn debt.
SPAIN - ValCapital acquires La Mediterránea
ValCapital has acquired glassware manufacturer La Mediterránea, which had been forced into administration two years ago after struggling with a EUR 9m debt pile.
SPAIN - Apax-backed Electro Stocks in debt-for-equity swap
ING has agreed to a debt-for-equity swap with Apax-backed electric equipment supplier Electro Stocks.
GERMANY - WHEB Ventures leads EUR 4.7m Torqueedo funding
WHEB Ventures has led an investment of close to EUR 5m in electric outboard motors developer Torqeedo.
First Reserve Corp promotes Deulina to director
Energy-focused investor First Reserve Corporation has promoted Anastasia Deulina to director.
ITALY - Cape Natixis-backed Garioni acquires 55% stake in CCM
Cape-backed boiler manufacturer La Garioni Naval di Castel Mella has acquired a 55% stake in industrial group CCM. The deal was carried out from Garioni's balance sheet.
FRANCE - NextStage leads EUR 10m investment into Elbée
NexStage has joined returning investors Xange Private Equity and OTC Asset Management in a EUR 10m investment into Elbée Group, the operator of home furnishing websites Delamaison and Decoclico.
GERMANY - DBAG and Quadriga Capital sell Lewa
Deutsche Beteiligungs AG (DBAG), Quadriga Capital and company management have sold their interests in pump manufacturer Lewa GmbH for an undisclosed sum to Japan-based Nikkiso Co, Ltd.
FRANCE/GERMANY - Gores-backed Sagen buys Gigaset assets
Sagem Communications, backed by US investor Gores Group, has acquired the broadband and WiMAX business of Gigaset Communications GmbH, a subsidiary of industrial holding Arques AG and Siemens AG.
FRANCE - Initiatives & Finances acquires SLAT MBO
Initiatives & Finances has signed an agreement to purchase SLAT, a power supplies company, from 3M in an MBO deal.
Domino effect
It was two years ago this summer that the repercussions of financial engineering first started reverberating through the system. It has been a protracted process. The long-awaited wave of defaults is starting to take shape, with levels doubling in Q1...
GERMANY - BPE’s Neumayer completes EUR 42m restructuring
Barclays Private Equity (BPE) portfolio company Neumayer Tekfor Group, a global automotive supplier, has undergone a financial restructuring that will see EUR 42m of new capital invested into the business.
SWEDEN - Ratos-backed EuroMaint acquires EISAB for SEK 24.5m
EuroMaint Industry, a subsidiary of Ratos-owned EuroMaint, has acquired EISAB Energi och Industriservice AB, a service provider to industries within waste management and renewable energy, valuing the business at SEK 24.5m. Ratos will be injection a corresponding...
NETHERLANDS - Gimv backs Claymount MBO
Gimv has acquired a 43% in x-ray business Claymount Group in a management buyout, with CEO Jeffrey Tierie and other management team members retaining the balance of the equity.
UK - Octopus invests £1.1m into Phase Vision
Octopus Ventures has invested £1.1m into optical inspection solutions manufacturer Phase Vision, in exchange for a significant minority stake in the business.
Supporting the structure
The noise of restructuring is finally making itself heard. In Italy, media reports have put some private equity-backed firms in the spotlight as they face distressed debt issues. Yacht-maker Ferretti, formerly backed by Candover and Permira, is the latest...