United Kingdom
Adveq to open London office
Swiss fund-of-funds Adveq is in the process of setting up a new office in London.
LDC provides Forest Holidays with follow-on funding
Rural holiday accommodation provider Forest Holidays has opened its eighth site with follow-on funding from LDC.
Bridges sells The Gym Group to Phoenix
Bridges Ventures has sold a majority stake in The Gym Group to Phoenix Equity Partners, realising a 3.7x money multiple and a 50% IRR.
LGV's Heywood steps down
LGV Capital CEO Ivan Heywood has stepped down and will be replaced by current managing directors Michael Mowlem and Bill Priestly.
Ingenious sells Digital Rights to Modern Times for £13.2m
Ingenious Media Active Capital (IMAC), a closed-ended investment company managed by Ingenious Ventures, has sold its stake in Digital Rights Group (DRG) to Swedish broadcaster Modern Times Group (MTG) for ТЃ13.2m.
Key Capital Partners' Dwell close to administration
Furniture retailer chain Dwell could file for administration as early as this week, according to reports.
North West Fund backs Fourteen IP
The North West Fund for Venture Capital, managed by Enterprise Ventures, has committed ТЃ500,000 to communications solutions firm Fourteen IP.
Mobeus reaps 2x on BIH exit
Mobeus Equity Partners has divested the main operating facility of British International Helicopter Services (BIH) to trade player Patriot Aerospace Group, realising a 2x return.
MML-backed Arena makes Asian bolt-on
MML Capital-backed Arena has acquired Malaysia-based Asia Tent International.
Calculus hires new investment director
Richard Moore, Calculus Capital
UK private equity industry proves downturn resilience
UK private equity and venture capital funds generated a 6% 5-year IRR during the five years throughout the financial crisis, outperforming the 2.5% achieved by the FTSE All-Share, according to a recently published study.
NVM achieves 3.3x on IG exit
NVM Private Equity has sold IG Doors to the HУЖrmann Group, generating an IRR of 17.3% and a 3.3x money multiple.
Sovereign Capital appoints investment executive
Peter Shaw, Sovereign Capital
Dunedin backs £43m Trustmarque secondary buyout
Mid-market GP Dunedin has backed the ТЃ43m management buyout of Trustmarque Solutions, a technology services and solutions provider, from LDC.
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UK Awards
Cerus Endovascular raises £1.5m from Spark Impact
Medical devices company Cerus Endovascular has completed a ТЃ1.5m funding round led by the North West Fund for Biomedical.
BC brings in the banks for Foxtons float
BC Partners has hired Credit Suisse, Numis Securities and Canaccord Genuity to handle the flotation of London estate agency Foxtons.
SEP leads £1.2m investment in SocialBro
Scottish Equity Partners has led a ТЃ1.2m funding round for SocialBro, a Twitter analytics tool for businesses.
LDC backs Rimor MBO
LDC has supported the management buyout of subsea oil and gas manufacturing and engineering services firm Rimor.
LDC returns to MB Aerospace
Despite exiting MB Aerospace three months ago, LDC, alongside new owner Arlington Capital Partners, has reinvested in the aerospace engineering group to support its acquisition of Delta Industries.
Saudi Aramco Energy Ventures invests in ZiLift
Saudi Aramco Energy Ventures (SAEV) has invested in ZiLift, a developer of artificial lift systems.
WestBridge appoints new senior investment manager
WestBridge Capital has hired Pascal Wittet as senior investment manager following the firmтs recent move to London.
General Catalyst et al. invest $12m in YPlan
General Catalyst Partners has led a $12m series-A funding round into British mobile start-up YPlan alongside existing investors Wellington Partners and Octopus Investments.
CD&R in potential Balfour and Rentokil deal
Clayton Dubilier & Rice is in talks over a potential merging of the office maintenance business of Balfour Beatty and Rentokil Initial.