Growing pains
The mid-market appears to be in relative good health and Southern Europe continues to clock up deals - even sizeable ones: as highlighted by the EUR1.1bn injection into Italian telecom holding Weather Investments by Apax, Madison Dearborn and TA Associates. Meanwhile, Stirling Square and Sirius Private Equity acquired sportswear firm Jeckerson, and Mercapital closed the acquisition of Iberian engineering firm Obras Subterraneas
The venture end of the spectrum has also been active, although according to industry experts it will be a while before any technology clusters can be truly recognised in the region. (See feature, page 14.)
Nevertheless the outlook for European venture seems bright and exits seem to be performing better than in the past. However, whether European venture is truly on a par with its North American and Asian counterparts, only time will tell.
Yours sincerely,
Francinia Protti-Alvarez, Editor, Southern Europe unquote"
Tel: +44 20 7004 7476
francinia.protti-alvarez@incisivemedia.com.
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