News
UK - New corporate recovery fund launched
NorthEdge Capital, a new corporate recovery fund targeting distressed businesses, has been launched by four financiers, previously partners at HBOS, PwC and Lloyds TSB Development Capital.
GERMANY - Leonardo invests further EUR 250,000 in InovisCoat
Leonardo Venture has invested a further EUR 250,000 in specialty foils company InovisCoat GmbH, maintaining its 49% stake in the business.
UK - Carlyle-backed Apollo Global to acquire BPP in £300m deal
Carlyle-backed educational investment company Apollo Global is reportedly to acquire business college operator BPP, in a deal that values the company at £303m.
UK - Doughty-backed Setanta may go into administration
London-based sports broadcaster Setanta, which is backed by a private equity syndicate comprising Doughty Hanson, Balderton Capital and Goldman Sachs, is reportedly days away from going into administration.
UK - KKR's Alliance Boots appoints former HBOS exec as chief executive
Andy Hornby, the man held responsible for driving HBOS to its near collapse, has been appointed chief executive of Alliance Boots, the portfolio company of US buyout house KKR.
UK - LDC backs £20m buyout of ANSA and Independent Inspection
Mid-market investor LDC has backed the £20m management buyout of claims providers ANSA Holdings and Independent Inspection Holdings from listed parent company Mavinwood plc, in exchange for a majority stake in the newly combined business.
NETHERLANDS - Gimv backs Claymount MBO
Gimv has acquired a 43% in x-ray business Claymount Group in a management buyout, with CEO Jeffrey Tierie and other management team members retaining the balance of the equity.
FRANCE - Turenne funds EUR 6.6m Santé/Serf merger
Turenne Capital has provided portfolio company Menix with a EUR 6.6m capital injection to fund the merger between its subsidiary Dedienne Santé, a prosthetics company, and Serf, an orthopedics and dental implants company.
EUROPE - Cerberus loses two heads
It is understood that US-based investor Cerberus has lost two of its European-based heads in London as part of a firm-wide scaling back operation.
GERMANY - Soffin takes 90% Hypo stake
Government-backed investor Soffin has completed an investment into Hypo Real Estate Holding AG, upping its stake in the ailing real estate bank to 90%.
UK - Braveheart acquires Inkopo
Venture investor Braveheart has acquired the entire share capital of Yorkshire-based specialist investment business Inkopo. The consideration comprises an initial cash payment of £75,000 and three tranches of Braveheart shares over the next two years,...
UK - Accel Partners and Greylock make $22m Wonga investment
Accel Partners and Greylock Partners have led a $22m funding round for online short-term cash lender Wonga, alongside existing investor Balderton Capital.
FRANCE - Pechel Industries buys 42% stake in Eminence
Pechel Industries has taken a 42% stake in clothing company Eminence for an undisclosed sum.
UK - Venture Finance appoints business development manager
Venture Finance has hired Paul Levy as business development manager in its London office.
UK - Private equity buyers no longer interested in Apollo and Keepmoat
Private equity interest in an investment into social housing contractors Apollo and Keepmoat has cooled, despite Lloyds officially putting their 20% holding up for sale.
UK - Lenders move to take control of Park Resorts
GI Partners-backed Park Resorts is reportedly in restructuring talks with its lenders over a debt-for-equity swap that could see the private equity firm lose control of the business.
EUROPE - Advent International hires partner
Global private equity firm Advent International has hired Bob Wigley as operating partner in its London office.
FRANCE - Evolem purchases stake in Ingerence & Connivence
Evolem has taken a 25% shareholding in Ingerence & Connivence, a consulting services company, for an undisclosed sum.
GERMANY - DIC’s Almatis is debt restructuring talks
According to reports, Dubai International Capital-owned aluminium producer Almatis is in debt restructuring talks with its lenders, comprising UBS, Commerzbank, SMBC, Harbourmaster Capital and Carlyle Group.
UK - NBPE to seek SFM listing
Neuberger Berman has announced plans to list its Euronext Amsterdam-quoted private equity fund-of-funds, formerly Lehman Brothers Private Equity, on the Specialist Fund Market (SFM) of the London Stock Exchange.
GERMANY - Commerzbank launches debt restructuring business
Commerzbank has established a new debt restructuring advisory business based in Frankfurt.
FRANCE - Elaia et al. invest EUR 6m into Goojet
Returning backers Elaia Partners, Partech International and IRDI-ICSO have participated in a EUR 6m second round of financing for software business Goojet, alongside new investor Orkus Capital.
UK - LDC appoints legal counsel
Mid-market investor LDC has hired John-Paul Preston as counsel to its legal and risk team.
GERMANY/UK - 3i-backed Hyperion's subsidiary acquires Hendricks
3i-backed Hyperion Insurance Group's brokering arm, Howden, has acquired Hendricks & Co, a specialist directors and officers (D&O) and commercial legal expenses broker in Germany.