News
UK - Creative Ventures backs TNWA Group
Creative Ventures has invested in TNWA Group, a leading developer of a new online multiplayer gaming platform. The funding provided by Creative Ventures has enabled TWNA to acquire Enemy Down, a leading destination for Europeтs competitive PC gamers....
UK - Delta Two must inject more equity to have a chance with Sainsburys
Delta Two has been told it must be prepared to put in more equity if it wants to have a chance of acquiring Sainsburys, the UK supermarket chain. London-listed Sainsbury is 18% held by the Sainsbury family who are demanding assurances that Delta Two will...
UK - Somerfield £1bn refinancing scrapped
Apax Partners and Barclays Capital's intended ТЃ1bn recapitalisation of portfolio company Somerfield has been shelved due to stagnation in the debt markets. The deal would have enabled Apax, Barclays and property entrepeneur Robert Tchenguiz to realise...
UK - Oxford Capital Partners backs Glide Pharma with £2.3m
Oxford Capital Partners has joined existing investors on a ТЃ2.3m funding round for Glide PharmaTM, the specialty pharmaceutical company developing products based on its innovative needle-free Glide SDIтЂ drug delivery system. Existing shareholders include...
UK - Exponent acquires Cardsave from RJD, Morley Fund Managers and LDC
Exponent Private Equity has acquired Cardsave, a supplier of credit card terminals and services to independent retailers. The company was bought from a consortium of shareholders which included RJD Partners, Morley Fund Management and LDC. Lloyds TSB...
UK - Bowmark acquires Las Iguanas from Piper Private Equity for £27m
Bowmark Capital has acquired Las Iguanas, a chain of Latin American restaurants, in a ТЃ27m buyout. The transaction provided an exit for Piper Private Equity, which invested ТЃ3.4m in the business in July 2002. Piper has reaped returns of 6x its investment...
GERMANY - VTC Industrieholding exits TAKRAF
German industrial group VTC Industrieholding GmbH has announced the sale of TAKRAF GmbH to Milan-based Tenova, a fully-owned subsidiary of Techint Group. The deal value has not been disclosed and the transaction is subject to the approval by antitrust...
UK - MVM backs new spinout Heptares Therapeutics
MVM Life Science Partners has provided Heptares Therapeutics with an undisclosed sum of early-stage funding. Heptares has spunout of the MRC Laboratory of Molecular Biology in Cambridge.
UK - Moulton sets standard for charitable giving
Jon Moulton of Alchemy Partners has made a private investment of ТЃ12m in Winthrop Hall, a new centre for treatment and research into drug and alcohol addiction which is scheduled to open on 8th October. Winthrop will offer clients an initial six-week,...
UK - West Coast Capital loses out on Dobbies
Tesco looks set to secure Dobbies, the Scottish gardening chain listed on AIM. The ТЃ155.6m deal represents a 45x price/earnings multiple. The deal, subject to further Dobbies shareholders accepting the offer, is a blow for West Coast Capital which decided...
UK - Mark Fox to leave BVCA
Mark Fox, currently director of Communications & Public Affairs at the BVCA, is leaving the organisation in October 2007. He will take up the position of chief executive of the Business Services Association from November.
GERMANY - BayBG invests in B2B online retailer
BayBG Bayerische Beteiligungsgesellschaft mbH has invested EUR 1m in Mercateo AG. The new capital will be used to further develop and optimise the company’s software. For this purpose it will employ 10 new software developers.
BELGIUM - Godiva draws private equity interest
Private equity houses are reported to be interested in Godiva Chocolatier following Campbell Soup Company 's announcement that it will explore strategic alternatives. Campbell has hired Centerview Partners LLC as its financial advisor.
FRANCE - PAI to sell Yoplait
French large-cap private equity firm PAI partners is reportedly considering divesting dairy products company Yoplait.
CEE – ING appoints heads of leveraged finance, high yield
ING Wholesale Banking has appointed Martijn Bruins as head of leveraged finance and sponsor coverage for Central & Eastern Europe. Based in London, Bruins began his new role on Monday. He has been with ING since 1992, most recently as managing director...
IRELAND - Amadeus, Balderton and Spark invest $17.75m in Intune Networks
Amadeus Capital Partners, Balderton Capital and Spark Capital have led a $17.75m investment in Intune Networks, a developer of technology for telecommunications networks. 3i and ICC Venture Capital are existing shareholders in the company having invested...
FRANCE - UI Gestion backs F2A's secondary buyout
UI Gestion has acquired a majority stake in ventilation equipment manufacturer F2A, previously backed by Finadvance and Ciclad.
SWEDEN - SVCA attends Swedish political seminar
The SVCA contributed to the annual political seminar, Almedals Veckan, in Sweden. The event, which a number of different political parties attended, was held in Gotland.
SPAIN – Clave Mayor leads buyout of Natural Food
Clave Mayor has wholly acquired Natural Food alongside industrial backer George Stravrakakis.
UK - Inflexion refinances Ilchester Cheese Company
Inflexion Private Equity has refinanced its portfolio company Ilchester Cheese Company, a Somerset-based producer of blended cheese. Lloyds TSB provided the ТЃ5m debt and working capital facility for the refinancing.
ITALY –Investitori Associati joins the pack of suitors for CIT
Struggling travel business CIT has received the interest of six buyers so far. The company – which is nearing liquidation, with losses reportedly surpassing EUR 150m – aims to find a buyer by the end of September.
UK - Blackstones quits plans to delist FKI
Blackstone has ended talks with engineering group FKI about a possible ТЃ768m take-private deal. The London-listed group announced that it was in contact with a suitor in May this year.
FRANCE - Eurazeo and its LPs invest EUR 500m equity in Elis deal
French buyout house Eurazeo and Eurazeo Co-Investment Partners (ECIP) provided around EUR 500m in equity out of a total transaction value of EUR 2.28bn for the tertiary buyout of textile rental business Elis.
UK - Modus completes second deal with £11.4m development capital investment
Modus Private Equity has backed insurance administrator Fish Administration Ltd with ТЃ11.4m of development capital. The deal represents MPE's second since being set up 12 months ago by Paul Newton, Mike Rogan, Paul Hogarth and Brendan Flood.