3i
UK tech investments: opportunities and pitfalls
The UK's tech space might be once again a target of choice for private equity, but speakers at a Taylor Wessing seminar recently warned investors to tread carefully to make the best of the good times ahead. Greg Gille reports
Regional UK players closing the gap on London market
Life outside London
Axa PE buys Trescal in €250m SBO
3i stands to double its money in a little less than three years after agreeing to sell French measurement services specialist Trescal to Axa Private Equity for around €250m.
3i reaps 2.3x on Xellia exit
3i has agreed to sell Xellia Pharmaceuticals AS, a Norwegian speciality pharmaceutical group, to Novo AS for ТЃ460m.
3i reports 11.5% NAV increase
3i has seen its NAV per share rise 11.5% over the past 12 months, and says it is making significant progress to turn around the business.
3i sells HTC Sweden to Polaris Private Equity
3i has sold its 36.5% stake in flooring solutions manufacturer HTC Sweden to Polaris Private Equity.
3i sells Civica to Omers Private Equity
3i has sold specialist IT systems and services firm Civica to Omers Private Equity for an enterprise value of ТЃ390m.
3i's Refresco merges with Gerber Emig
Refresco, a Dutch beverage manufacturer backed by 3i, will merge with European bottling company Gerber Emig.
Banks arrange debt for sale of 3i and Allianz's Scandlines
A debt package of up to €1bn is being put together for the sale of German ferry operator Scandlines, owned by 3i and Allianz Capital Partners, according to reports.
Labco: formal bids expected next month
3i-backed medical diagnostics company Labco formally launched its sale process at the end of January and first bids are expected in May.
3i receives private equity bids for Civica
3i has received bids from a number of fellow private equity houses for its UK-based software business Civica, according to reports.
3i and RCP exit Giraffe to Tesco
3i and Risk Capital Partners (RCP) have sold their 36.8% stakes in UK-based restaurant chain Giraffe to Tesco, giving the business a ТЃ48.6m enterprise value.
3i's Simon Borrows invests £7.7m in firm
3i CEO Simon Borrows has acquired 2.5 million shares in the company for an average price of 308.8p per share.
3i sells Enterprise in £385m deal
3i has sold business services provider Enterprise to Spanish infrastructure company Ferrovial for ТЃ385m.
Private equity's biggest scandals
Public image
PE-backed Labco in €100m high-yield refinancing
French medical diagnostics company Labco has made a €100m bond issue to repay the outstanding amounts borrowed under its revolving credit facility.
TPG-backed retailer Republic enters administration
British clothing retailer Republic, owned by TPG Capital, has appointed Ernst & Young as its administrator.
3i exits Mold-Masters to Milacron
3i Group has sold Canadian portfolio company Mold-Masters to Milacron for CAD 975m (approximately £615m) through an auction process, reaping a 2.6x money multiple.
3i-backed Trescal in Isocal bolt-on
3i's French portfolio company Trescal, an industrial calibration company, has acquired Austrian calibration service business Isocal GmbH.
3i in bid for National Air Traffic Services
3i has started the bidding process for a 12% stake in the UK's National Air Traffic Services (NATS), according to reports.
3i to offload more assets
3i is looking to sell at least four of its portfolio companies, according to reports, as it continues to refocus its strategy.
3i finalises Norma Group exit
3i has sold its remaining 16.7% stake in listed German business Norma Group AG, bringing its total return to 5.5x.
SJ Berwin hires ex-3i tax specialist as consultant
Global law firm SJ Berwin has hired David Huff as a consultant.
Report indicates tough times for PE ahead
GPs are increasingly negative about fundraising and worried about the impact of the economy on their portfolio companies, according to Grant Thornton’s latest private equity report. Anneken Tappe reports