Turnarounds
Mutares set for capital increase to boost deal-making
Listed special situations investor aims to raise EUR 100m to back its future growth and investments
Podcast: In conversation with... Jan Kengelbach, BC Partners
Portfolio operations partner Kengelbach shares his experience and lessons learned from getting hands-on with portfolio company Aenova
Patron closes sixth fund on €844m
Patron Capital VI is a closed-ended Jersey-based Limited Partnership, while Patron is based in London
Värde Dislocation Fund closes on $1.6bn
Fund has a global mandate to pursue a mispriced, stressed and distressed credit
LionRock rescues Clarks in £100m deal
Asian GP will acquire a majority stake in Clarks as it enters a company voluntary agreement
Preparing for the turnarounds wave
The much-anticipated wave of distressed opportunities has failed to materialise so far, but market participants are still readying for an uptick
Ace buys Astorg's Aries Alliance, injects €20m in new money
Deal is the first for the aerospace-focused Ace Aero Partenaires fund, which reached a €630m first close
Inspirit backs Lloyds Register Group's energy division
Inspirit writes equity cheques of ТЃ2-10m for UK SMEs with revenues greater than ТЃ20m
QuattroR backs paper specialist Burgo
Investment includes a €70m capital increase entirely financed by QuattroR that will be used to reduce Burgo's debt
Clarks in refinancing provided by LionRock - report
A deal would see Clarks raise an investment in exchange for a dilution of the Clark family's holding
PE firms more bullish than corporates on distressed M&A – survey
Of the PE firms surveyed, t4% cite distressed/turnaround opportunities as a major motivation for acquisitions
RCapital to acquire Archant through CVA
Archant's board says several options including a sale had been explored but a CVA was the best outcome
White Park, Navigator Capital carve out Gateway from Gunnebo
Subsidiary has since 2019 generated a loss for Gunnebo
THCP-backed Byron to be acquired out of administration
Existing investors, including Three Hills Capital Partners, will retain a minority share
TnuiCapital to acquire Busaba
Terry Harrison, Busaba Eathai's managing director, is to remain at the helm
Pillarstone Italy launches €600m turnaround fund
Responsible & Sustainable Corporate Turnaround Fund intends to support the recovery of Italian companies
Turnaround funds eye European companies hit by Covid-19
Turnaround players have raised at least $5bn overall in Europe in recent years
Merino-backed Hawkin's Bazaar appoints administrators
Company reported a loss of almost ТЃ1m on ТЃ15.3m in sales in 2018 and employs 177 people
Endless's Enact acquires Bawtry Carbon
Enact II makes its third investment with the carbon-based products manufacturer
Ibla Capital buys bed manufacturer Assio
Company's management team, led by founders Giuliano and Graziano Coden, will stay on with the business
Endless's Enact buys Redhall Networks from administration
First investment made by the GP via its Enact Fund II, which closed on ТЃ30m this week
Endless holds £30m final close for Enact Fund II
Development comes 14 months after Fund I made its final exit with the sale of Stirling Dynamics
Dubag acquires Räuchle
Willi Gaule will remain CEO during Dubag's acquisition and the restructuring until mid-2019
True rescues portfolio company TyresOnTheDrive
GP previously invested in the tyre e-commerce business, which entered administration in January