News/Region
GLOBAL - GE chairman keeps the pressure on private equity
In comments to the UK press, Jeffrey Immelt, the chairman of GE, has added his voice to the sceptical chorus surrounding private equity in recent months. His argument is based on a critique of the industry that sounded like the idiots guide to a buyout...
UK - YFM sees 8.5x return on IPO of Pressure Technologies on AIM
Three YFM-managed funds have seen stunning returns from the flotation of Pressure Technologies on AIM. YFM Venture Finance returns 8.5x its money, while South Yorkshire Investment Fund and Yorkshire and Humber Equity Fund have seen an IRR of 125% from...
UK - Imperial Innovations backs solar power company with £1.35m
Imperial Innovations has participated in a £1.35m funding round for solar power technology company QuantaSol Ltd. The round also included investments from Low Carbon Accelerator, NetScientific Ltd and Numis Corporation Plc.
UK - Exponent and BPE expected to acquire Midland newspaper titles
Exponent Private Equity and Barclays Private Equity are believed to have teamed up to back the management buyout of a collection of Midland newspaper titles. The deal has an estimated price tag of £190m. Titles including the Birmingham Post and Coventry...
GLOBAL - $48.5bn deal for BCE the largest ever
The investment arm of the Ontario Teachers' Pension Plan, Teachers Private Capital, has joined forces with Providence Equity Partners and Madison Dearborn Partners to acquire BCE, Canada's largest telecom group. The $48.5bn price-tag will make it the...
UK - Bain Capital acquires Brakes for £1.3bn
Bain Capital has backed the secondary buyout of food service distributor Brakes from Clayton, Dublier & Rice. The deal is reported to have weighed in at £1.3bn. JP Morgan and Deutsche Bank ran a process to dispose of the business which attracted interest...
SWEDEN - Moberg Derma raises SEK 27.7m for clinical trial
Moberg Derma AB, a Swedish pharmaceutical company, has raised SEK 27.7m to fund clinical phase II trial for a Novel treatment of nail fungus. The Baltic Sea Foundation (Östersjöstiftelsen) was the lead investor. Other institutional and private investors,...
FINLAND - ABN AMRO Capital sells Iittala Group for EUR 235m
ABN AMRO Capital has sold Iittala Group Plc, a homeware company that offers a wide range of Scandinavian design-products, to Fiskars Corporation for EUR 235m.
SPAIN/FRANCE - CVC calls on cov-lite debt ahead of Altadis bid
CVC Capital Partners has reportedly secured EUR 12.8m in covenant-light debt to support its bid to acquire Franco-Spanish tobacco business Altadis, according to press reports.
UK - Carlyle targets Virgin Media
Carlyle Group is reported to be leading a bid to take-private NASDAQ-listed Virgin Media. It is understood that Carlyle is working in association with Providence Equity, KKR and Cinven and could offer up to £4bn for the company. Any deal would have to...
FRANCE - IDI aims to raise additional EUR 50m
Mid-cap investor IDI is to launch a capital increase of EUR 50m, in order to boost its private equity activity and increase the liquiditiy and attractiveness of its shares.
UK - Lyceum exits Asquith Nurseries via sale to Dawnay, Day and Swordfish
Lyceum Capital has sold Asquith Nurseries to Dawnay, Day Principal Investments and Swordfish Investments LLP for £95m. Asquith Nurseries is a children’s day nursery operator with places for up to 10,000 children across 113 nurseries and crèches nationwide....
UK - Lyceum strengthens risk management portfolio company with acquisition
Lyceum Capital risk management portfolio company National Britannia Group Ltd (NBG) has acquired Corporate Health & Safety Solutions Ltd (CHSS). CHSS is a strong player in the safety, health and environmental professional training market. It offers training...
FRANCE - Elior's acquisition of Vivae provides exit for Quartus
Quartus Gestion is set to divest its stake in contract catering group Vivaë, through a trade sale to Charterhouse and Chequers-backed restaurant giant Elior.
UK - Balderton backs online advertising marketplace AdJug.com
Balderton Capital has provided AdJug.com, an online advertising marketplace, with a multi-million dollar investment. Balderton was formerly known as Benchmark Capital. The deal represents Balderton's second online start-up investment in a week - it provided...
UK - Hermes makes five new appointments
Hermes Private Equity has made five new appointments across both the direct investments and funds areas. The strengthening of the team coincides with the announcement that the BT Pension Scheme has approved £300m of backing for Hermes third direct private...
FRANCE - Siparex completes three exits
Siparex has generated between 24% and 30% IRR from each of its three latest exits.
FRANCE - Venture-backed Pertinence merges with Intercim
Paris-based Enterprise manufacturing intelligence specialist Pertinence has merged with manufacturing execution systems solution provider Intercim, allowing Seeft Venture, Advent Venture Partners and Partech Intenational to realise their stakes.
UK - LDC backs £100m buyout of British Salt from US parent
LDC has acquired British Salt Ltd in a £100m management buyout from its US parent company, US Salt Holdings. It has invested £35m for a majority shareholding. Debt funding was arranged by the acquisition finance division of Lloyds TSB Corporate Markets...
ITALY - Carlyle acquires Palazzo Tergesteo in Trieste
The Carlyle Group has acquired Finrex S.p.A., owner of Palazzo Tergesteo in Trieste, from Associazione Cassa Nazionale di Previdenza ed Assistenza a Favore dei Ragionieri e Periti Commerciali. Carlyle is investing in this project through its second European...
SWITZERLAND - Consortium acquires TechnoMarine
A consortium led by Cobepa and Crédit Agricole Suisse has acquired Swiss luxury watch manufacturer TechnoMarine for an undisclosed amount. 123Venture also invested as well as the management team consisting of Jean-Claude Yana and Gilbert Ohayon.
SWEDEN - CapMan invests in healthcare provider Nacka Närsjukhus Proxima
Funds managed by CapMan will, together with management, acquire Swedish Nacka Närsjukhus Proxima AB, a private healthcare provider offering specialised healthcare in the greater Stockholm area.
FINLAND - CapMan exits from Medianorth
Funds managed by CapMan have sold their holding in media house Medianorth Group Oy to Avaus Consulting Oy.
FRANCE - Coronis Systems sold to Elster Group
Coronis systems, a developer of ultra-low-power wireless solutions headquartered in Montpellier has been acquired by metering company Elster Group, providing an exit for Banexi Ventures and AXA Private Equity.