News
UK - New Look IPO off
Rumours that Apax and Permira were going to float portfolio company New Look were unfounded. The high street fashion retailer looks set to change private equity hands, with Merrill Lynch appointed to run an auction. KKR, CVC and Texas Pacific Group are...
ITALY - PM & Partners acquire financial services player
Via its fund Emerald, private equity firm PM & Partners has acquired a 55% shareholding in Maccorp, a Milan-based company providing exchange and money transfer services.
ITALY - MPS Venture acquires minority stake in Pramac
Regional expansion fund Siena Venture, managed by the private equity arm of bank Monte dei Paschi di Siena (MPS Venture), has acquired a 3.2% stake in machinery player Pramac SpA from its founders via a public offering.
NORWAY - HitecVision to invest in Poseidon Group
HitecVision Private Equity has invested in Poseidon Group, a supplier of engineering, system solutions, technology and consultant services within construction, operations and maintenance of subsea oil and gas fields. The investment gives HitecVision a...
UK - LGV seeks further asset in dental healthcare sector
It is thought that Legal & General Ventures is considering a bid for AIM-listed dental group Oasis Healthcare. The Norwich-based company's shares rose a fifth yesterday on the back of news that it had received several preliminary approaches.
ICELAND/NORWAY - Glitnir appoints new CEO
Lárus Welding has been appointed new CEO of Glitnir, after Bjarni Ármannsson, who has served as the bank´s CEO for the past 10 years. Welding has previously been managing director for Landsbanki´s London Branch since 2003. Welding joined Landsbanki in...
GERMANY - Mauser AG changes hands in EUR 850m transaction
One Equity Partners have sold Mauser AG for EUR 850m to fellow financial investor Dubai International Capital. In May 2003, One Equity Partners had acquired the industrial packaging specialist for an undisclosed amount.
GERMANY - StageSpace receives seed funding
StageSpace has raised an undisclosed amount of seed capital from a syndicate of investors including Mountain Partners and Tiburon Unternehmensaufbau GmbH.
UK - LDC back buyout of MB Aerospace
LDC has backed the management buyout of engineering contractor MB Aerospace Holdings. LDC will own a majority stake in the newco, which has been formed from MB Aerospace and MB Faber, two of the main subsidiaries of 109 year-old generalist engineering...
FINLAND - Eqvitec exits Secgo Software
Eqvitec Technology Fund I has sold its 18% holding in Secgo Software, a Finnish information security and mobility management software company, to Birdstep Technology ASA for EUR 9.2m. Eqvitec invested in Secgo in the company's spin-off from Secgo Group...
UK - Rhone Capital exits Early Learning Centre after acquisition by Mothercare
Chelsea Stores, the owner of the Early Learning Centre children's toys retailer, has been acquired by Mothercare for ТЃ85m in cash and shares. The deal represents an exit for Rhone Capital, a private equity player which participated in the consortium...
SWEDEN - Accent Equity acquires stake in EQT-owned Scandic Hotels
EQT has acquired Scandic Hotels from Hilton Hotels Corporation through its EQT V fund. In connection with the completion of the transaction, EQT has invited Accent to acquire 14% of Scandic Hotels through its Accent Equity 2003 fund. EQT will thereby...
UK - Gresham reaps 12x money on exit from Penn Pharmaceuticals
Gresham Private Equity has reaped 12x its money from its exit from Penn Pharmaceuticals. The company has been acquired by LDC in a secondary management buyout worth ТЃ67m.
UK - ABN AMRO backs £163m tertiary buyout of office supplier from Hermes
ABN AMRO Capital has acquired office supplier OyezStraker Group Holdings Ltd for ТЃ163m in a secondary management buyout from Hermes Private Equity. The deal will see ABN AMRO invest ТЃ41.2m for a majority stake in the newco with Hermes reinvesting for...
UK - Grant Thornton merges with RSM Robson Rhodes to create fifth biggest accounting firm
The partners of Grant Thornton UK LLP and RSM Robson Rhodes LLP have announced their agreement to merge the two firms. The deal will create the UK's fifth largest accountancy firm behind the Big Four with a combined fee income of approximately ТЃ375m....
UK - ECI Partners sells Nuaire to Electra realising IRR of 80%
ECI Partners has sold ventilation system manufacturer Nuaire to Electra Partners realising an IRR of 80%. ECI acquired Nuaire in a management buyout from its founder for ТЃ38m in 2004. Electra's investment was supported by debt provided by Bank of Ireland...
HUNGARY - GMT and MidEuropa complete sale of Invitel
Mid Europa Partners, GMT Communications Partners today announced the completion of the sale of fixed telecommunications services provider Invitel to Hungarian Telephone & Cable Corp for a total consideration of EUR 470m. The agreement to sell Invitel...
GERMANY - Tough first day for listed Versatel
Apax Partners portfolio company Versatel AG has listed on the Frankfurt Prime Standard. The company placed approximately 28.5 million shares at an issue price of EUR 29 per share, raising a gross amount of approximately EUR 830m. The issue price was at...
GERMANY - Wellington Partners invests in Adconion
In a first round of funding, Wellington Partners has invested an undisclosed amount in Munich-based online advertising network company Adconion Media Group. The company was formerly known as Euroclick but recently rebranded as it is expanding beyond Europe....
GERMANY - Apax and Blackstone sell Sulo Group
Apax Partners and Blackstone Group have sold waste management company Sulo Group for EUR 1.45bn to French Group Veolia Environnement. The financial investors each acquired a 50% stake in the company in January 2004.
FRANCE - Apax sells Parkéon to Barclays Private Equity for around EUR 260m
Apax Partners has agreed to sell the former parking and ticketing division of Schlumberger (e-city) to Barclays Private Equity for a total consideration of approximately EUR 260 million.
FRANCE - CDC CI backs Genoyer's secondary buyout
CDC Capital Investissement has acquired a majority stake in the secondary buyout of oil, gas, water and petrochemicals pipes manufacturer Genoyer. The deal means an exit for Carlyle, which had piloted the company's first buyout in 1998.
GERMANY - European Capital opens Frankfurt office
European Capital Financial Services has opened an office in Frankfurt expanding its pan-European mezzanine activities. Managing director Robert von Finckenstein is heading European Capital’s third office in Europe. European Capital also has offices in...
NL - GIMV sells Holonite to Egeria
GIMV has sold its stake in Holonite, a producer of composite stone finishing elements for the construction industry, to Egeria. The transaction price remains undisclosed, but the sale has a positive impact of EUR 5.3m (EUR 0.23 per share) on GIMV’s last...