News
FRANCE - Astorg backs secondary buyout of Webhelp
Astorg Partners is set to acquire a majority stake in CRM specialist Webhelp. Vendor Barclays Private Equity will retain a minority interest in the business, while management is increasing its stake.
EUROPE - EVCA defiant on difficult day for private equity
The mood at the EVCA Symposium held in Rome today was defiant. On the day that the BVCA CEO stepped down the voices on this side of the Channel were clear: "Politicians should be careful what they wish for," warned Philippe Costeletos from Texas Pacific...
EUROPE - EVCA to change its set-up
The European Private Equity and Venture Capital Association (EVCA) today announced at its annual conference in Rome that it is to become an umbrella for three independent groups dealing with large buy-out houses, mid-market buy-out companies and venture...
UK - BVCA's CEO steps down
Following the poor performance of the British Private Equity and Venture Capital Association (BVCA), executives on Tuesday at the cross-party Treasury select committeeтs inquiry, Peter Linthwaite, the BVCAтs beleaguered chief executive, has stepped down...
UK - LDC expands its London team
Andy Kilborn, who spent ten years with KPMG advising on mid-market transactions, joins as investment manager and Alex Bowden, previously based at LDCтs Reading office, joins as investment director. They bolster the now eight-strong London team led by...
UK - Balderton Capital wholly aquires Codemasters
Balderton Capital, formerly known as Benchmark Capital Europe, has acquired the remaining stake held by the founders of Codemasters, an independent videogame developer and publisher.
UK - IMAC makes a further £3m investment in Digital Rights Group
Ingenious Media Active Capital Limited (IMAC) has made a further ТЃ3m investment in Digital Rights Group Limited (DRG). In December 2006, IMAC made an initial investment of ТЃ3m in the company.
AUSTRIA - New appointment at Gamma Capital Partners
Investment manager Horst Gaisbauer has joined Gamma Capital Partners as a senior associate. He will be responsible for the management of special projects as well as business development. Previously, Gaisbauer worked as a project manager for the Mergers...
SWEDEN - Industrifonden recruits two new investment managers
Industrifonden has hired two new investment managers. Stefan Jakelius, formerly head of seed financing at the Energy Agency, who will invest in cleantech ventures. Tore Tolke, formerly investment manager at Småföretagsinvest, who will work in expansion...
UK - LDC invests a further £15million in Commercial First
Mid-market private equity firm LDC has increased its stake in specialist commercial mortgage lender Commercial First. The transaction follows LDCтs initial investment in August 2006, taking its total investment to ТЃ42million.
FRANCE - IPO spins-off Ceradel
IPO, the listed subsidiary of CM-CIC, has piloted the carve-out of ceramic and glass art equipment provider Ceradel from parent company Imerys.
BELGIUM - Transics IPO more than 10x oversubscribed
Carlyle-backed Transics, a provider of on-board computers and fleet management solutions for the transport and logistics sector, has offered 2,628,571 shares on Eurolist by Euronext Brussels, priced at €17.50 per share.
UK - MMC invests £2m in online lead-generation business
MMC Ventures has made an equity investment of ТЃ2 million in Clash-Media, an online lead generation business based in London.
UK - 3i sells HSS to Aurigo and Och-Ziff
3i has announced the sale of UK tool hire company HSS to Aurigo and Och-Ziff for ТЃ310m, generating a multiple of 4x for the investor. 3i acquired HSS in 2004 and during its ownership of the asset re-structured its business model. Hawkpoint Partners...
UK - Duke Street in take-private bid for Oasis Healthcare
Duke Street Capital has offered ТЃ76.9m for AIM-listed dental services provider Oasis Healthcare Plc. The offer of 82 pence per-share represents a premium of 74.4% on the closing price. The bid is being financed by a debt package supplied by Barclays...
AUSTRIA - Cycleenergy receives EUR 6.7m funding
3TS Capital Partners and Ventaac Beteiligungs- und Unternehmensberatung GmbH have invested EUR 4.3 and 2.4m respectivley in Austian bioenergy group Cycleenergy. The company will use EUR 6.7m financing to expand its biomass and biogas power plant activities...
AUSTRIA - ATV up for sale
According to Austrian press reports private equity firms are expected to bid for Austrian Bank BAWAG PSK’s 43% stake in Austria’s only nationwide commercial broadcaster ATV. Following the acquisition of BAWAG in the beginning of 2007 by a consortium led...
UK - Investec backs Hamilton Bradshaw Human Capital in buyout of Eden Brown
Investec Private Bank's Growth & Acquisition Finance division has provided Hamilton Bradshaw Human Capital (HBHC) with funding to support the acquisition of leading recruitment specialist Eden Brown Ltd. The business has a turnover of ТЃ180m. HBHC specialises...
FINLAND - Industri Kapital divests Etel Networks to 3i making 2.5x
Industri Kapital and TeliaSonera have signed an agreement to sell their shares in Eltel Networks to 3i through an auction process which was held by Access Partners, making a 2.5x money multiple.
NORWAY - Verdane Capital Advirsors and Ferd Venture exits Nacre AS to Bacou-Dalloz
Bacou-Dalloz has acquired Nacre AS from Ferd Venture, Verdane Capital Advisors and Viking Venture. The transaction values Nacre at USD 135m, and Ferd Venture has announced that they will make a 15x return in cash on the divestment.
DENMARK- 7TM AS secures fourth-round investments of $22m
7TM Pharma AS, a Danish pharmaceutical, has raised around $22 million in a fourth-round funding from SR One Ltd, one of GlaxoSmithKline’s independent corporate healthcare venture capital fund. Other investors that have participated are Alta Partners,...
EUROPE - EVCA stats show record 2006 fundraising and investment
Final figures for European private equity activity and performance were announced by EVCA today, confirming a booming buyout industry and continued UK dominance. The figures also showed something of a revival for European venture, with тЌ17bn allocated...
Quote" - Javier Echarri, Secretary General, EVCA
'The critics may not agree with it, but the capital market world we live in today is non-negotiable', Javier Echarri said in an interview with unquote" , in which he responded strongly to recent criticism of private equity from trade workers unions,...
UK - Midven reaps 12x money on sale of ScriptSwitch
Midven's partial exit of ScriptSwitch last month, a provider of software products to Primary Care Trusts, generated a return of nearly 12 times for the investor, with an IRR of 67%. As reported on unquotenews.com , ISIS Equity Partners completed a ТЃ9.9m...