News
UK - 3i portfolio company announces agreement with defence company Thales
3i portfolio company Light Blue Optics (LBO), a developer of miniature projection systems, has announced a joint agreement to develop a range of display products with aerospace & defence company Thales. Under the agreement, LBO will provide Thales with...
UK - BC Partners wins £400m auction for Foxtons
It is understood that BC Partners has reached exclusivity in its bid to acquire estate agency chain Foxtons. The deal values the primarily London-focussed agency at ТЃ400m. In a process run by Credit Suisse, BC Partners beat off competition from other...
GERMANY - Greater Pacific Capital front runner in bid for Merck division
UK-based private equity firm Greater Pacific Capital is the front runner to acquire the generic drugs division of Merck. GPC is bidding in association with Indian company Torrent Pharmaceuticals and backing from Fortress Group and Tudor Investment. The...
SPAIN/FRANCE - Altadis opens its books to trigger bidding war
In an effort to ramp up competition for its acquisition, Franco-Spanish tobacco company Altadis yesterday opened its books to the scrutiny of bidders Imperial Tobacco and a CVC Capital Partners/PAI partners syndicate.
ITALY - MPS Venture divests from broadcasting business Finelco
MPS Venture has sold the combined stake of 12.86% it held in broadcasting business Finelco to industry player RCS Mediagroup Spa. The total exit value is EUR 20.7m.
FRANCE - HgCapital buys French wind farms for EUR 69m
Via its fund Hg Renewable Power Partners, HgCapital has acquired four wind farms in the Picardie region, for a total consideration of EUR 69m.
SPAIN - Torreal buys minority stake in audiovisual group
Private equity firm Torreal has bought a 20% stake in audiovisual group Imagina. No further financial information has been disclosed.
DENMARK - Via Ventures invests in QAtor
Via Venture Partners has invested in QAtor - a software firm specialising in compliance and quality assurance software for the Life Science Industry. The investment will be used to further accelerate market penetration and product development.
SWEDEN - EQT and Investor AB sells Gambro Health Care to Bridgepoint
Investor AB and EQT has agreed to sell Gambro Health Care to Bridgepoint for an undisclosed sum from Gambro Holding AB. Prior to the sale EQT has held a 51% stake in the company, and Investor AB held the remaining. The sale of Gambro Healthcare is part...
UK - University of Sheffield spin-out sold to US medical technology company
Plasso Technology UK has been acquired by US medical technology company BD (Becton, Dickinson and Company). The deal represents an exit for Plasso investors, White Rose Technology Seedcorn Fund and East Hill Management Company. White Rose provided Plass...
UK - Bridges provides The Office with £2.2m of additional funding
Bridges Community Ventures has provided managed office business The Office with a further round of funding totalling ТЃ2.2m. The new capital has enabled The Office to purchase a fourth building.
UK - Advent International acquires Lloyds TSB Registrars in £550m deal
Advent International has acquired the share registration arm of Lloyds TSB for ТЃ550m. The deal came about after Lloyds TSB appointed Lehman Brothers to run a sale process. Advent beat off competition from Australian company Link Market Services which...
SWEDEN - Earlybird leads SEK 68.5m investment in Sidec Technologies
Earlybird Venture Capital, Industrifonden and Investor Growth Capital has invested SEK 68.5m in Sidec Technologies AB, a Swedish biotech company. In the series-B round, Investor Growth Capital and Ealybird joined Industrifonden, an existing investor....
UK - CVC reported to be interested in Jessops
London-listed camera retailer Jessops is the subject of takeover speculation. The company's shares are trading at a fifth of what they were worth last year following a series if profit warnings. CVC is reported to be interested in the company.
UK - One Equity encounters new competition for EMI takeover approach
One Equity is facing competition in its bid to acquire London-listed music publisher EMI. EMI is reported to have opened its books to US hedge fund Cerberus and Fortress Investment Group as well as One Equity, the private equity arm of JP Morgan that...
UK - Morrisons latest supermarket to attract private equity interest
Morrisons is the latest UK supermarket chain to have attracted private equity interest. The Bradford-based chain is the fourth largest supermarket in the UK following its takeover of Safeway in 2004. A private equity bid could value Morrisons at up to...
UK - 3i to buy into architectural firm
3i is reported to be buying a minority stake in Foster & Partners, the architectural business behind the Gherkin. The deal is expected to value the company at between ТЃ400-500m.
UK - Bridges leads SBO of Triage from 3i
Bridges Ventures has led the secondary buyout of IT repair company Triage Services. The deal represents an exit for 3i which backed the original ТЃ9m management buyout of the company in 1997. Kaye Enterprises and Calculus Capital also participated in...
UK - Christiian Marriott joins BPE from Mezzanine Management
Christiian Marriott has joined Barclays Private Equity as head of investor relations. He was previously at Mezzanine Management.
FRANCE - I-Source and 3i sell ScreenTonic to Microsoft
I-Source Gestion and 3i have sold mobile media content business ScreenTonic to Microsoft.
SWEDEN - Segulah recruits new partner
Segulah has recruited Percy Calissendorff as a new partner. He will join the team as of September 3rd 2007. Percy is a Swedish citizen with over ten years of private equity experience. Over the last five years, he has been a partner at UK based private...
UK - Bridgepoint secures Leeds Bradford deal
Bridgepoint has won the auction for Leeds Bradford Airport. It is paying ТЃ145.5m to acquire the asset from its five local council owners. Bridgepoint intends to invest up to ТЃ70m in the facility to try to double passenger numbers. In 2005, the airport...
UK - Boots deal encounters up to £1bn unforeseen pension costs
KKR's buyout of Alliance Boots has encountered a setback in the form of an extra ТЃ1bn demanded by the trustees of its pension fund. The pension fund was reported to have a surplus just days earlier. Yesterday, the Pension Regulator called on trustees...
UK - One Equity could value EMI at £3bn
EMI is being circled by One Equity, the private equity group associated with JP Morgan. The music publisher has been the subject of private equity speculation since last November. It was first courted by Permira which was understood to have considered...