News
GERMANY - Odewald & Compagnie acquires IWKA Packaging
The board of the IWKA group has decided by seven votes to five, to sell its packaging division to Odewald & compagnie for EUR 255m. The outcome had been expected although the worker’s union had preferred Italian strategic investors Coesia.
SPAIN - TPG to offer EUR 4bn for Iberia
Texas Pacific Group (TPG) is said to be considering a EUR 4bn bid for Spanish carrier Iberia. However, if the offer goes ahead TPG may face competition from exisiting shareholders Lufthansa and British Airways; the latter is said to be preparing for a...
UK - Just Retirement share sale nets £82.6m for Langholm
Langholm Capital has sold an additional 30 million shares in UK life assurance group Just Retirement, netting the investor ТЃ82.6m The 275p price per share represents a significant premium on the initial placement of shares at 148p in November last year....
UK - NVM acquires Promanex from Sovereign
NVM Private Equity (NVM) has invested ТЃ5m in the secondary management buyout of Midlands-based Promanex Group. The deal represents an exit for Sovereign Capital, which backed the company's first buyout in 1999.
AUSTRIA - UC4 Software acquires AppWorx
The Carlyle Group portfolio company UC4 Software GmbH has acquired software company AppWorx Corporations. The transaction value has not been disclosed but Carlyle provided UC4 with fresh capital to finance the acquisition. Following completion of the...
UK - Investcorp Technology Partners undertakes EUR 105m buyout of Moneybookers
Investcorp Technology Partners has undertaken the EUR 105m buyout of Moneybookers Ltd, a leading European online payment provider and the UKтs first FSA-licensed e-money issuer. As part of the transaction, Moneybookersт existing shareholders will maintain...
GERMANY - VITA 34 International floats on Prime Standard
SHS portfolio company Vita 34 has listed 600,000 new shares on the Prime Standard at an issue price of EUR 15 per share. Concord Effekten AG acted as the sole global coordinator with N M Fleischhacker AG being the underwriter.
SPAIN - Nazca to complete sale of tapas chain this week
Press reports suggest that private equity firm Nazca is to complete the sale Lizarrán Tapas Selectas, its tapas restaurant business, to sector player Comess Group this week, for approximately EUR 20m.
UK - Next target for private equity
Retailer Next saw it shares jump 77p to an all-time high of ТЃ23.05 following chatter of a possible private equity bid. The company's results last week revealed a business in rude health, prompting the speculation. However, the lack of freehold property...
UK - Foresight Venture Partners invests £1.5m in BIMBO of TFC Europe
Foresight Venture Partners has invested ТЃ1.5m in the BIMBO of TFC Europe. The Heathfield-based business is a supplier and designer of injection-moulded technical fasteners and ring and spring products for the aerospace, automotive, hydraulics and petrochemical...
SPAIN - Mid-market frenzy for perfumery business
A pool of mid-market players is set to present offers for perfumery business Juteco this week. It is understood that Mercapital, 3i, Nmás1, MCH, Corpfin and Nazca are all competing for the company, worth approximately EUR 100m.
UK - Matrix expands its team with appointment of Guy Blackburn
Matrix Private Equity Partners has appointed Guy Blackburn as investment manager. He joins the new deals team, and will work on origination and establishing and building contacts for the firm.
ITALY - AIFI results: EUR 3.7bn invested in Italy in 2006
The Italian Private Equity and Venture Capital Association (AIFI) released the 2006 results during its annual meeting in Milan yesterday. According to the trade body's statistics, Italy's private equity and venture capital industry saw 292 deals for a...
UK - Lime Rock backs $90m MBO of C&M Group
Lime Rock Partners has backed the management buyout of marine engineering company C&M Group and its subsequent acquisition of Ice Maiden, a Russian ice-breaker ship. The $90m deal included a debt package provided by Royal Bank of Scotland worth $60m....
NORWAY - Ferd Private Equity acquires Hatteland Display
Ferd Private Equity Fund II (FPEF II) has acquired 90% of the shares in the marine display and panel computer producer Hatteland Display, from Jakob Hatteland Holding and CEO Knut Vidar Lauritsen. Lauritsen will retain an ownership of 10% in the company....
FINLAND - CapMan invests in Novitel
Funds managed by CapMan will invest in the Market Intelligence company Novintel and will acquire 3i Group’s stake in the company at the same time. The investment will be made to support the growth of the company’s international operations.
UK - Finance Wales leads £600,000 funding round for opto-electronics company
Finance Wales has led a ТЃ600,000 funding round for opto-electronics company Trace Technologies Ltd. Trace Technology's new software Photonic Interconnect System Designer (PISD) will enable the time taken to fit fibre optic cabling into aircraft to be...
SWEDEN - Industrifonden invests in VICI Industri
Industrifonden has invested SEK 50m in VICI Industri, together with ALMI, Skaraborg Provins Bank/Danske Bank. VICI Industri has recently received new orders for roughly SEK 200m from Scania, and the investment will be used to expand production facilities....
UK - MSIF backs MBO of watch service business with £1.1m
Merseyside Special Investment Fund (MSIF) has invested over ТЃ1.1m to support the management buyout of a Southport-based watch service business In Time Watch Services Ltd. The funding, which totalled ТЃ1.75m, will finance the acquisition and expansion...
GERMANY - Decision on IWKA packaging division expected
The board of the IWKA group is deciding today whether its packaging division will be sold to a financial or a strategic investor. The most promising candidate to acquire the division is Berlin-based financial investor Odewald & Compagnie. The investor...
NORWAY - Algeta raises NOK 250m in IPO
Algeta, Norwegian Cancer therepeutics successfully closed its IPO at a gross proceeds (before over-allotment) of NOK 250m. The offering was more than twice over-subscribed and was priced in the upper half of NOK 47 per share. The offering took place in...
SPAIN - iNova Capital acquires majority stake in IT business
Private equity firm iNova Capital has purchased a 56% shareholding in IT business Unitronics Comunicaciones, S.A from AlpInvest Partners, Coller Capital and the company's founders. Upon completion of the deal, the remaining shares will be split between...
UK - Apollo's Countrywide bid faces further challenge
Apollo's ТЃ1bn offer for Countrywide is expected to encounter difficulty next month when it faces a shareholder vote at an extraordinary meeting on the news that hedge fund Polygon Investment Partners has increased its stake in the UK estate agency chain...
UK - More Sainsbury's share movements
Robert Tchenguiz has raised his stake in Sainsbury's from 4.04% to 4.15%. It is thought the property tycoon is interested in working with the board of the UK supermarket giant to help it realise some of the value of its property. Tchenguiz has previous...