News
SWEDEN - Carlyle exits SmartTrust
Carlyle has sold its stake in SmartTrust, a developer of infrastructure software for managing and securing mobile services, to German technology group Giesecke & Devrient (G&D).
UK - LDC invests £6.5m in NESL
LDC has invested £6.5m into engineering solutions group Nuclear Engineering Services Limited (NESL).
FINLAND - Finnish Industry Investment hires investment manager
Government-owned Finnish Industry Investment has appointed Juha Lehtola as investment manager.
UK - NSEI invests further in Quick.tv
NorthStar Equity Investors (NSEI), alongside new and existing investors, has led a £335,000 funding round for online video company Quick.tv.
UK - TPG to pump more funds into British Vita
Reports suggest that TPG Capital has agreed a restructuring plan with lenders to portfolio company British Vita, a UK-based chemicals group, that will see the buyout house inject extra capital into the company, while some of the debt will be converted...
GLOBAL - First Reserve closes Fund XII on $9bn
US-based energy dedicated private equity house First Reserve Corporation has closed its twelth fund just short of $9bn - significantly below its $12bn target. The fund had a previous closing in July 2008.
GERMANY - Alvarez & Marsal hires restructuring head
Alvarez & Marsal has hired Dr Nedim Cen as managing director and co-head of the firm's Restructuring practice in Germany.
GERMANY - HTGF invests EUR 500,000 into RapidRabb
High-Tech Gründerfonds (HTGF) has invested EUR 500,000 into software prototyping company RapidRabb GmbH in a first round of financing.
FRANCE - Avenir and Siparex back Sushi West
Avenir Entreprises and the Siparex Proximité 3 fund have invested an undisclosed sum into Sushi West, a fast food sushi restaurant chain, taking a minority stake in the company.
GLOBAL - Morgan Stanley raises $1.14bn fund
Morgan Stanley Alternative Investment Partners (AIP), the fund-of-funds division of Morgan Stanley Investment Management, has raised Private Markets Fund IV, a $1.14bn vehicle.
UK - 3i reaps 4.5x on Instone sale to BPE’s ATP
Barclays Private Equity-backed travel business ATP International has agreed to wholly acquire Instone International, a marine fare specialist owned by 3i, in a sale that will generate 4.5x money for the vendor according to a source close to the deal....
EUROPE - Candover board to meet this week
The board of beleaguered buyout house Candover is to meet early this week to discuss takeover bids, according to today's Financial Times. The meeting comes after the investor earlier this month suspended its 2008 fund 'to explore strategic options'.
SWEDEN - Rite Ventures acquires Frank Dandy Superwear
Swedish private equity and venture firm, Rite Ventures, has acquired bankrupt fashion business Frank Dandy Superwear in an auction.
FRANCE - LBO France to purchase Idex
LBO France has signed an agreement with IK Investment Partners to purchase energy company Idex.
SWEDEN - Chalmers et al. support GreenClip with SEK 1.5m
Chalmers Innovation has backed GreenClip, a Swedish business which develops automated processes for attaching tags to various products, in a SEK 1.5m funding round, alongside Start Invest AB, Brunnen Invest and private investors.
UK - LDC backs £17m MBO of Cranswick Pet & Aquatics
LDC has agreed to support the £17m management buyout of bird and fish food supplier Cranswick Pet & Aquatics from listed food producer Cranswick plc.
UK - Matrix receives further proceeds from exits
In spite of adverse economic conditions, small buyout specialist Matrix Private Equity Partners has received deferred consideration on two exits originally completed in 2006 and 2007 - bringing its total IRR on the investments to 40% and 26% respectively.
UK - Bidding war for 3i's venture capital fund
Reports suggest that private equity groups Coller Capital and HabourVest Partners are considering bids for 3i's £400m venture capital fund.
GERMANY - Waterland backs A-ROSA MBO
Waterland Private Equity has backed the MBO of river cruise ship company A-ROSA Flussschiff GmbH.
IRELAND - SEP et al. invest €2.1m into Clavis Technology
Scottish Equity Partners (SEP) has led a €2.1m series-A round of funding for software company Clavis Technology, alongside Delta Partners, Enterprise Ireland and software industry professional Jim Mountjoy.
UK - Hermes BPK hires COO
Hermes BPK Partners has appointed Mark Smith-Lyons as its chief operating officer.
FRANCE - ENEX supports Louise Entreprises
Geneva-based ENEX Group has backed perfume company Louise Entreprises with an investment valued at between EUR 1-8m.