News
UK - Endless investment opens doors for STP Group
Endless has acquired STP Group Ltd, a manufacturer and distributor of timber doors and stairs. Endless invested £6.4m to support the management buyout of the Derbyshire-based business. Five Arrows Commercial Finance provided working capital facilities...
UK - Close Ventures supports Mi-Pay with £1.8m investment
Close Ventures has invested £1.8m into mobile payment service provider Mi-Pay Ltd, taking a minority stake in the business.
UK - LDC invests £40m for stake in GVA Grimley
LDC has invested £40m for a substantial minority stake in GVA Grimley, a commercial property consultancy. The deal was part of a financial restructuring that involves GVA Grimley converting from being a limited liability partnership (LLP) into a limited...
UK - Walker loophole revealed
The final guidelines announced yesterday by Sir David Walker include a potential loophole which could allow portfolio companies to avoid the disclosure requirements stipulated in the report. The guidelines require enhanced reporting from portfolio companies...
FRANCE - TCR Capital makes two new appointments
French independent mid-cap private equity firm TCR Capital has appointed Roberta Nataf as general secretary in charge of fund management and investor relations, and David Robin as partner. It is understood that TCR is looking to substantially expand its...
GERMANY – DZ Equity Partner acquires a minority stake in PAIDI
DZ Equity Partner GmbH has acquired shares in the PAIDI Group as part of a leveraged buyout. The shares were sold by the previous major shareholder, Welle Holding AG. PAIDI manufactures furniture for babies, children, and adolescents, employs around...
FINLAND - Bridgepoint completes recapitalisation of A-Katsastus Group Oy
Bridgepoint has completed a refinancing of A-Katsastus, the Finnish vehicle distributor. The debt facility is structured as a EUR 75m term loan A; EUR 75m term loan B; EUR 75m term loan C and EUR 10m revolving credit facility. On top of this, there is...
POLAND - Bridgepoint acquires CTL Logistics
Bridgepoint has acquired CTL Logistics, a private rail logistics company and one of the largest private rail operators in Europe, from its founder Jaroslaw Pawluk. The financial details of the transaction were not disclosed. Debt was provided by ING...
UK - Enterprise Ventures realises 50% IRR on sale of TC Wild
Enterprise Ventures has wholly exited its stake in TC Wild Ltd, a manufacturer of forged precision rings for the aerospace, oil, gas and power generation sectors, through a management buy-back deal. The exit generated a return of 2.3x the money invested...
GERMANY – Burda invests $500,000 in TeamPages
Burda Digital Ventures has led a series-A funding round for TeamPages, investing $500,000 in the social network site for amateur sports based in Vancouver. Several local angel investors were also involved. TeamPages was founded in 2006 and allows teams...
UK - ACP leads first funding round for Golden Gekko
Active Capital Partners, a European early-stage investor based in Barcelona, has made an undisclosed investment in Golden Gekko, developers of a new mobile application platform.
UK - Howarth Clark Whitehall appoints new partner
Accountancy firm Howarth Clark Whitehall has announced the appointment of Geert Struyven as a corporate finance partner in its Kent office, taking the number of corporate finance partners based in the South East to four.
FRANCE - OFI portfolio company announces two new acquisitions
OFI Private Equity portfolio company IMV Technologies, a producer of animal insemination products, has announced two major new acquisitions.
UK - Inflexion backs £44m buyout of telephony business
Inflexion Private Equity has led the £44m management buyout of Eurotel Holdings Ltd, a provider of telephony services to SMEs in the UK. Lloyds TSB Corporate Markets provided a debt package totalling £21.5m.
UK - Walker delivers final report
Sir David Walker today published the final draft of his review into disclosure and transparency in the UK private equity industry, amid criticisms that the guidelines had been diluted from the rules initially proposed in July.
UK - ICG appoints new head of CDO and institutional mandate team
Intermediate Capital Group Plc, a fund manager with £10bn funds under management, has appointed Dagmar Kent Kershaw to head its CDO and institutional mandate team.
NORWAY - Candover sells Get AS
Quadrangle Capital Partners and GS Capital Partners have acquired Norwegian telecommunications company Get AS from Candover for an enterprise value of NOK 5.8bn.
UK - NVM achieves 6x return from sale of Barony
NVM Private Equity has wholly exited its stake in aerosol products manufacturer Barony Universal Products in a trade sale to Questbridge, the Russia-based owners of JSE Arnest, for an undisclosed sum. The sale generated a 6x return on the money invested...
FRANCE - Candover buys Alma Consulting from Apax
Candover has backed the tertiary buyout of operational advisory firm Alma Consulting, meaning an exit for previous backers Apax Partners SA and minority co-investor Chequers.
UK - BVCA establishes review committee ahead of Walker results
The BVCA has announced the establishment of a new monitoring and review body to ensure its members comply with Sir David Walker's final guidelines, to be published tomorrow. Sir Mike Rake, chairman of BT, has been named as the first chairman of this group....
UK - Noble Fund Managers invests £1.5m in Plum Baby
Noble Fund Managers Private Equity has provided organic baby food business Plum Baby with £1.5m of development capital. Noble will take a significant minority stake in the business following the deal. In addition to Noble’s commitment, Octopus Ventures...
GERMANY - High-Tech Gründerfonds invests in VCS Medical Technology
High-Tech Gründerfonds has invested EUR 500,000 in Hamburg-based VCS Medical Technology GmbH. The company researches, develops, produces, and distributes products for the treatment of chronic wounds. VCS Medical Technology plans to enter the market...
UK - Dunedin backs £18m buyout in financial services sector
Dunedin has backed £18m managment buyout of Gissings Advisory Services Ltd (GAS), a financial services business. GAS provides consultancy advice on flexible benefits, private medical insurance, life assurance, permanent health insurance, occupational...
AUSTRIA – Siemens Österreich sells VA TECH WABAG to Indian ICICI Venture Funds
Siemens AG Österreich has sold its fully owned subsidiary, VA TECH WABAG Österreich, for an undisclosed sum to the Indian Chemnai-based VA TECH WABAG India Ltd. VA TECH WABAG India is held by Indian private equity house ICICI Venture Funds Management...