News/Region
UK - Permira eyes Britvic again
Permira has resumed its interest in listed soft drinks company Britvic. Reports emerged that Permira was looking at the company, which suffered several profit warnings last year, in mid-2006. In December 2006, Permira acquired an 11% stake in the public...
FINLAND - 3i sells shares in Wicom to SAP
3i has agreed to sell its shares in Wicom to SAP. At the same time the other investors and the Wicom management are divesting their shares, hence SAP will become the sole owner of the business. Wicom specialises in IP telephony for businesses, servicing...
GERMANY - Chrysler sold to Cerberus for EUR 5.5bn
DaimlerChrysler has agreed to sell its Chrysler division to US private equity firm Cerberus for EUR 5.5bn. Cerberus will take an 80.1% stake with Daimler retaining 19.9%. The transaction has been supported by American unions. In 1998 Daimler paid $35bn...
UK - BVCA survey shows private equity funds outperform public markets
Returns from UK private equity funds have significantly outperformed the stock market over three, five and ten years according to the 2006 Performance Measurement Survey summary results published today by the BVCA. The survey was produced in conjunction...
UK - Heatons appoints two new partners
Manchester law firm Heatons has announced the appointment of Mary Erb and Jim Truscott to equity partners. The move takes Heatons' total partner count to six and comes as the firm celebrates its first anniversary after severing ties with its two affiliate...
UK - Beringea backs online lead generation company
Beringea, manager of the ProVen VCTs, has backed online lead-generation company Dianomi Ltd in an expansion capital deal for an undisclosed amount.
UK - Private equity multiples at highest for six years
Private equity multiples are at their highest for six years according to new data from accountants and business advisors BDO Stoy Hayward. The Private Equity Price Index (PEPI) which tracks the price earnings ratio of deals involving a private equity...
UK - Ingenious Corporate Finance appoints senior UBS bankers
Ingenious, the media investment and advisory group, announces that Adam Joy and David Curley are to join Ingenious Corporate Finance as managing directors.
UK/SPAIN - Livingstone Guarantee creates international mid-market boutique
Livingstone Guarantee (LG), the London-based independent corporate finance house, has announced a merger with its long-standing Spanish partners and a new US-based mergers and acquisitions advisory house to create the first integrated investment banking...
GERMANY – Earlybird invests in smava
Earlybird has led a EUR 4m financing round in German internet company smava. This represents Earlybird’s second investment from the next-generation fund Earlybird IV. Other investors committing to the round are business angels Lukasz Gadowski, Stefan...
SWITZERLAND - Advanced Power AG receives EUR 31.5m financing
3i together with members of the Advanced Power board have invested EUR 31.5m in Swiss company Advance Power AG. The company is active in the development of electricity generation plants in Europe and the US. It currently has 10 ongoing projects in different...
FRANCE - Alliance Entreprendre and Avenir Entreprises invest in Lewinger
Small- to mid-cap investors Alliance Entreprendre and Avenir Entreprises have backed the owner buyout of Roanne-based pret-a-porter specialist Lewinger.
UK - ISIS backs £11.5m MBO of CableCom
ISIS Equity Partners, investing funds from the Baronsmead VCTs, has completed the £11.5m management buyout of IT company CableCom. Based in Clevedon, near Bristol, CableCom operates in the growing market of IT and communication managed services to multi-tenanted...
FRANCE - PAI makes EUR 1.2bn bid for Kaufman et Broad
PAI partners has made an offer for 49% of house builder Kaufman et Broad, according to French press reports. The EUR 53.13 per share bid values the business at around EUR 1.2bn.
ITALY - Fashion house Valentino attracts private equity interest
The president of Valentino, Antonio Favrin, has reportedly said that the haute couture group has been approached by a handful of private equity firms. However, it is not yet clear if the stake for sale corresponds to a minority portion or a controlling...
UK - Travers Smith grows partnership by 9
Travers Smith has announced that 9 new partners will be admitted the partnership as of 1 July 2007, taking the number of partners up to 65. The new additions are Matthew Ayre (Banking), Tim Lewis (Financial Services), Steve McNab (Environment and Planning),...
FRANCE - Atos Origin snubs its suitors
Computer services business Atos Origin has decided to pursue its growth strategy on a stand-alone basis, ending speculation about a possible LBO.
FRANCE - Finadvance leads MBI of swimming pool maker
Finadvance has backed the management buy-in of Piscine Ambiance, acquiring 93% of the equity via its fund Finadvance Capital III.
GERMANY - Halder exits PRÜM-GARANT Holding
Halder Beteiligungsberatung GmbH has sold PRÜM-GARANT to Swiss industrial company Looser Holding AG for an undisclosed amount. Halder acquired PRÜM-Türenwerk GmbH in August 2004, and merged the company with its other acquisition GARANT Türen- und...
GERMANY - ING expands its leveraged finance team
ING Wholesale Banking has made a further addition to the German division of its Leveraged Finance and Sponsor Coverage group based in Frankfurt with the appointment of Dr Heinz Staake as director. Staake joins from Bank of Scotland’s Frankfurt office,...
GERMANY - Latham & Watkins strengthens Munich office
Volkmar Bruckner has joined Latham & Watkins as partner in the Munich office. He joins from Dechert where he was responsible for both corporate/M&A and private equity activities.
UK - OC&C appoints Michael Rzesnitzek as new partner
OC&C Strategy Consultants has appointed Michael Rzesnitzek as a new partner. He will start at OC&C on 1 October 2007. Rzesnitzek, a publishing expert with international experience, will bring his expertise in the media to OC&C.
IRELAND - Terra Firma portfolio company in $5.2bn buyout
Terra Firma portfolio company AWAS, an aircraft leasing company headquartered in Dublin, has acquired Pegasus Aviation Finance Company in a $5.2bn buyout from Oak Tree Capital Management.
UK - Oxford Capital Partners and Imperial Innovations in £3.1m second-round funding
Oxford Capital Partners and Imperial Innovations have co-led a £3.1m second round of funding for Veryan Medical Ltd, a developer of medical devices to improve the long-term effectiveness of medical care in patients with vascular disease. Existing investor...