United Kingdom
UK & Ireland unquote" April 2012
This year’s Budget, delivered on 21 March by chancellor George Osborne, had few surprises, with even Osborne describing it as “fiscally neutral”.
Business Growth Fund: Myth versus reality
The newest kid on the block – made up of lots of the old boys in the industry – is struggling to make friends. People say the Business Growth Fund (BGF) is too big and too threatening. But is the BGF’s reputation warranted? Kimberly Romaine investigates
OpCapita acquires GAME for £1
OpCapita has acquired GAME Group’s UK business for a nominal £1. The turnaround investor has acquired the firm’s 333 remaining stores, and paid a reported £50m for the company's £85m debt, but has not bought any of GAME’s overseas assets.
Grahame Cook is new chairman of Epi-V
Specialist oil and gas investment fund Epi-V has appointed Grahame Cook as its new chairman.
GCP appoints Richard Shaw as investment manager
Growth Capital Partners (GCP) has appointed Richard Shaw as investment manager.
Robert Easton named BVCA chairman
Carlyle's Robert Easton has taken over as chairman of the British Venture Capital Association, replacing Amadeus' Richard Anton.
Accel Partners backs Hailo
Accel Partners has led a $17m series-A funding round for London-based mobile taxi app Hailo.
JAG Shaw appoints new lawyer
Boutique law firm JAG Shaw, which specialises in private equity and venture capital, has hired Susanna Stanfield as a lawyer in its London office.
LDC reaps 3.8x money on Eveden Group exit
LDC has sold its stake in lingerie and swimwear business Eveden Group to Japanese listed trade player Wacoal Holding Corporation.
Distressed debt funds called in for Fitness First
BC Partners has called in distressed debt firms Oaktree Capital and Marathon following Fitness First’s failure to meet repayments, according to reports.
ECI appoints new investment manager
UK mid-market GP ECI Partners has appointed Joe Garrood as investment manager in its London office.
CVC to refinance Formula One Group
CVC has launched a process to refinance portfolio company the Formula One Group.
GCP acquires Garrets International
Greenhill Capital Partners has acquired Essex-based marine catering management business Garrets International for a reported £17m.
Better Capital buys Everest for £25m
Turnaround specialist Better Capital has acquired a 95% in stake in UK-based home improvement products manufacturer Everest in an all-equity, £25m transaction.
Hedge funds: A new source of dealflow
The credit crisis has left hedge funds holding on to unwanted equity stakes. Could this be a new source of dealflow for private equity buyers? Sonnie Ehrendal investigates
Terra Firma buys Garden Centre for £276m
Terra Firma Capital Partners has acquired British garden centre operator The Garden Centre Group from Lloyds for a total of £276m in equity and debt.
Imperial Innovations leads £3m funding round in Abingdon Health
Imperial Innovations Group has led a £3m funding round in Abingdon Health, a specialist medical diagnostics company, alongside other private investors.
LDC backs Airline Services MBO
LDC has backed the MBO of aircraft maintenance company Airline Services.
Percipient generates 18x on Milmega exit
Percipient Capital has exited EMC testing and RF microwave specialist Milmega Limited making 18x its original investment and a 50% IRR.
Baird looking to raise £250m
UK-based mid-cap investor Baird Capital Partners Europe is currently raising a £250m fund, according to a source close to the situation. The firm's previous vehicle closed on €204m in 2005.
Chancellor reneges on VCT investment cap
As part of yesterday’s Budget, the government has confirmed that previously announced changes to the Enterprise Investment Scheme and VCTs will go ahead. But a retrospective change to the annual investment limit spells trouble for the VCT community...
YFM and MMC inject £1.5m into KnowledgeMill
YFM Equity Partners and MMC Ventures have co-invested £1.5m in London-based email management platform KnowledgeMill.
Lack of metrics stalls progress of social impact investment
The impact investment industry, which focuses on firms with a positive social impact, stands at a crossroads. Following the swift growth of microfinance, the most mature of impact investment sectors, the burgeoning asset class is emerging within venture...
Index Ventures closes life sciences fund at €150m
Index Ventures has closed its latest life sciences fund, raising €150m from LPs and pharmaceutical companies.