News
Rexam healthcare packaging unit attracts private equity
Packaging giant Rexam has initiated a sale process for its healthcare packaging division, which could fetch around £650m.
SVG enjoys 23% NAV boost in H1
SVG Capital has reported a 23% uplift in net asset value (NAV) in its half-year results, with shares now trading at 480p.
Whitworths set for tertiary deal
Food company Whitworths looks set to fall into the hands of a third private equity owner as current backer European Capital seeks an exit.
Goldman Sachs appoints new head of EMEA financial sponsors group
Alasdair Warren, Goldman Sachs
Switzerland to increase start-up support via new fund-of-funds
The Swiss Private Equity & Corporate Finance Association (Seca) has teamed up with Swiss investment platform CTI Invest to set up a CHF 500m fund-of-funds to support local start-ups.
Kreos Capital leads round for GetTaxi
European GP Kreos Capital has led a $12m series-C funding round for GetTaxi, an enterprise and consumer taxi app, as the company launches its first US office.
Riverstone Holdings to float energy vehicle
Energy-focused private equity firm Riverstone Holdings is to float its latest energy vehicle in London, according to reports.
GSK launches $50m venture capital fund
GlaxoSmithKline (GSK) has launched a $50m strategic venture capital fund, Action Potential Venture Capital (APVC), to make investments in the biotech and bioelectric medicines industries.
NVCT, Northern 2 and 3 launch £50m joint offer
Northern Venture Trust, Northern 2 VCT and Northern 3 VCT, the venture capital trusts (VCT) managed by NVM Private Equity, have launched joint offers for subscription to raise a total of £50m.
3i-backed Element Materials secures financing from lenders
Element Materials Technology, a material testing and inspection firm backed by 3i, has secured additional financing from its bank lenders to boost its buy-and-build strategy.
FCA calls for AIFMD applications by January 2014
The FCA has advised firms managing alternative investment funds (AIFs) to submit applications by no later than 22 January 2014, ahead of the official 21 July 2014 deadline.
Ex-Premier Foods boss to advise KKR on Lucozade and Ribena bid
KKR is understood to have brought in Michael Clarke, the former CEO of Premier Foods, to advise on its £1.5bn bid for Lucozade and Ribena from GlaxoSmithKline (GSK).
Blackstone given all-clear to buy Multi Corporation
The European Commission has granted Blackstone the option to wholly purchase Netherlands-based Multi Corporation, a commercial real estate developer specialising in shopping centres.
CVC set to buy Advent's Domestic & General
CVC has entered exclusive talks with Advent International to buy insurance business Domestic & General, according to reports.
White & Case hires Allardice from Kirkland & Ellis
Ross Allardice, White & Case
Better Capital hires Richard Favier
Richard Favier, Better Capital
ING in talks with MBK Partners over Korean life insurance arm
Dutch bank ING is in talks with South Korean private equity firm MBK Partners over a sale of the bank’s Korean life insurance arm, according to reports.
Investec funds 2M’s acquisition of ChlorVinyls arm
Investec Growth and Acquisition Finance has provided follow-on funding to client 2M Group for the acquisition of the packed chlorine branch of ChlorVinyls.
Little Chef sold to Kuwait-based KFG
Roadside restaurant chain Little Chef has been sold by turnaround investment firm Rcapital to Kuwait-based Kout Food Group (KFG).
Private equity-backed tech firms more likely to succeed
An extensive study of high-growth technology start-ups has found those backed by private equity and business angels are more successful than those financed with bank loans.
Grosvenor Capital acquires Credit Suisse’s PE FoF division
US-based fund of hedge funds Grosvenor Capital Management (GCM) has acquired the fund-of-private-equity-funds division of Credit Suisse, Customised Fund Investment Group (CFIG).
New Rentokil boss to push non-core sell-offs
A changing of the guard at Rentokil Initial will see the listed firm focusing on its core divisions of pest control, cleaning and laundry service, resulting in opportunities for private equity.
Pamplona to leverage OGF purchase with €635m debt package
The recently announced buyout of French funeral services operator OGF by Pamplona will be financed by a €635m debt package, according to media reports.
Lion's Picard issues €480m floating rate note
Picard Surgelés, a French portfolio company of Lion Capital, has issued a €480m floating rate note to refinance part of its debt.