News/UK / Ireland
UK - PAI Partners bid for Cleanaway UK
Cleanaway UK, one of the UK's biggest waste management companies, has shortlisted about six bidders including French private equity company PAI Partners, in the final stages of its auction.
UK - CVC to back MBO of Helphire?
The Financial Times reports that CVC Capital Partners has been in talks with Helphire, a Bath-based company that provides replacement vehicles for drivers who claim to be the innocent victims of car accidents. Talks between Helphire and CVC are understood...
UK - Speculation about the future of Britvic
Soft drinks manufacturer Britvic issued its third profit warning in three months sparking a flurry in trading of the company's shares yesterday. Despite the dismal performance and volatility in the carbonated drinks market, Britvic shares closed 17.75p...
UK - Nigel Beer takes minority stake in Hotbed
Nigel Beer, former head of KPMG's corporate finance division in London, has taken a minority stake in Hotbed. He will take on the role of non-executive director of the private investor network, but remains active as a consultant for KPMG.
UK - Shaun Beaney joins BDO as deal origination manager
Shaun Beaney has joined the corporate finance department at BDO Stoy Hayward as deal origination manager. Beaney arrives at BDO from the Institute of Chartered Accountants in England and Wales (ICAEW) Corporate Finance Faculty, where he was business development...
UK - Telent to be taken private by Fortress Investment
Telent has been offered 529.5p per share by the US private equity firm Fortress Investment according to a report in today's Times. The deal will value Telent, the only part of former industrial giant Marconi that remains independent, at £346m. Ericsson...
UK - Barclays Ventures exits Canada Square Health and Fitness Ltd
Barclays Ventures has completed the sale of Canada Square Health and Fitness Ltd, the operator of the prestigious 'Reebok Sports Club London' in Canary Wharf, to an overseas private investment group for an undisclosed amount.
UK - FT analyses PIK financing trend following refinancing of New Look
Following a further round of financing of New Look yesterday, which included approximately £350m worth of PIK notes, the Financial Times has today published an article analysing the increasing use of payment-in-kind loans. These are increasingly used...
UK - Caledonia backs management buyout of Celerant Consulting
The management of Celerant Consulting, the global operations management consultancy based in Richmond, UK announced that they have agreed with Novell Inc, to acquire Novell’s majority shareholding for a total of approximately $77m. As a result of the...
UK - Wragge & Co appoints fifth partner
Wragge & Co LLP has boosted its private equity practice with the appointment of Ian Piggin as its fifth partner.
UK - 3i set to re-enter baby product market with offer for Mayborn
3i has announced that it has made a recommended offer to Mayborn Group Plc, the manufacturer and distributor of Tommee Tippee baby and Dylon fabric dye brands. The offer values the business, which has a turnover of over £80m and is currently listed on...
UK - Hellman & Friedman set to announce £550m buyout of Gartmore
US private equity firm, Hellman & Friedman, is reported to have backed the management buyout of fund management group Gartmore. The £550m deal is expected to be announced today following seven months of negotiations, according to The Daily Telegraph.
UK - LDC backs buyout of PayStream
LDC has backed the MBO of PayStream, for an undisclosed sum. LCD has acquired a significant majority of shares in the accounting and payroll service provider.
UK - Red Diamond Capital set to acquire Avon Rubber's automotive business for £63m
The Financial Times reports today that Red Diamond Capital has arrived at a conditional agreement with Avon Rubber to purchase its automotive business. Red Diamond Capital will back management in a deal worth £63m.
UK - Bank of Ireland announces strong Q1 for corporate banking
Bank of Ireland Corporate Banking today announced the completion of deals in excess of £400m in the first quarter of 2006. Corporate Banking completed financing for companies in a diverse range of sectors including retail, support services and financial...
UK - US-based Saints Capital buys technology portfolio for cash
The sale of the entire portfolio of unquoted investments and certain restricted quoted investments of Amerindo Internet Fund Plc (AIF) and Emerging Technology Portfolio (ETP) have been sold to funds managed by Saints Capital and Willowridge Inc for cash....
UK - Amadeus Capital Partners wins ECF award
Amadeus Capital Partners, one of the UK’s top technology venture capital firms, has won Government backing to establish an Enterprise Capital Fund (ECF). The Government funding of £6.5m will be put to work alongside £3.5m from private investors and...
UK - Exponent Private Equity acquires Magicalia for £13m
Exponent Private Equity today announces the £13m acquisition of Magicalia, a leading UK online publishing group which was launched in 1999 by joint managing directors Adam Laird and Jeremy Tapp.
UK - CVM backs opening of 37 degrees healthclub
Close Venture Management (CVM) has announced the opening of 37 degrees healthclub at More London, the new 13 acre development next to Tower Bridge on the Thames.
UK - 3i sells stake in Tensar to US-based Tensar Corp
3i has sold its minority stake in Tensar, which provides innovative engineering solutions to a wide range of construction problems, to US-based Tensar Corp in a £68m deal.
UK - ECI to sell Kirker Holidays
ECI Partners is to sell the upmarket short break specialist it bought in 2003 for £15m, according to reports in today's Times. Kirker Holidays sells about 23,000 holidays a year and has a forecast turnover of £25m.
UK - Lion Capital expresses interest in Campbell soup brands
The Financial Times reports that Campbell soup has put its UK and Irish grocery brands up for sale at auction in order to allow itself to concentrate on overseas business. The auction has attracted strong interest from both trade buyers and private equity,...
UK - Sir Peter Vardy sets up new venture capital fund
The motor retailer, Sir Peter Vardy, has set up his own venture capital fund which will start operating this week with a £50m fund. Vardy Venture Capital will make investements of between £500,000 and £2m focusing primarily on his native north-east...
UK - Acquisition of Contour Showers Ltd by MST Capital
Contour Showers Ltd, the UK brand of specialist shower equipment for the elderly and special-needs markets, has been purchased by MST Capital, in conjunction with a new management team of managing director Tim Robinson and finance director David Whitehead.