News
UK - 3i makes high profile appointment in gas & power sector
3i has strengthened its gas and power team with the appointment of Ian Russell, the former CEO of Scottish Power Plc, as an industrialist in residence. Russell brings a wealth of experience and knowledge of the energy and finance markets to 3i, having...
SWEDEN - Industrifonden invests SEK 7m in scuba diving company
Industrifonden has invested SEK 7m in Gothenburg-based scuba diving company Poseidon in a funding round also including Start Invest. Start Invest and Industrifonden will hold close to 50% of the shares in the business.
UK - LDC strengthens its Midlands team with appointment of Tony Nash
LDC has strengthened its Midlands team with the appointment of Tony Nash as investment director.
UK - The Capital Fund makes two investments
The Capital Fund has completed two investments. It has provided Iconium, a corporate governance and compliance software solutions-provider based in Horsham, with expansion capital of an undisclosed value.
UK - IMAC invests up to £4.15m in Community Television Networks
Ingenious Media Active Capital Ltd has completed an investment of up to ТЃ4.15m in Community Television Networks Ltd (CTN).
NORWAY - FSN Capital buys a 47% stake in private care company
FSN Capital II has agreed to acquire 47% of the shares in healthcare provider Norlandia Omsorg AS. The deal will enable Norlandia Omsorg to strengthen its market position and grow organically and via acquisitions.
UK - Cognetas ends talks with fashion retailer Alexon
Market sources report that talks between the independent directors of fashion retailer Alexon and a management buyout team have ended. The team, believed to be backed by Cognetas, failed to reach an agreement on price.
UK - Imperial Innovations' incubation facility signs up rubber recycling company
Imperial Innovations Group has announced that Rubber-Regen has signed a contract to receive incubation services and support from the Imperial Innovations Recycling Commercialisation Centre, an incubation facility contracted to Imperial Innovations by...
UK - Heller Ehrman expands its Corporate/Venture Law team
Heller Ehrman has hired Chris Grew, Richard Eaton and Struan Penwarden to join its Corporate/Venture Law Group practice. Grew, Eaton and Penwarden were formerly partners in WilmerHaleтs London office. The new team will be joined by Stephen Ferruolo, a...
FRANCE - Barclays Private Equity takes minority stake in scaffolding business
According to market sources, Barclays Private Equity has taken a minority stake in Entrepose-Echafaudages, in a secondary 'owner buyout'.
CEE - Bridgepoint to enter Central and Eastern European market
Bridgepoint has announced that it is to open a regional office in Warsaw to address the growing investment opportunities in Central and Eastern Europe. The new office will be led by new partner Khai Tan, the former head of Advent International’s operations...
FRANCE - AXA Private Equity backs Brittany-based house builder
AXA Private Equity has acquired a minority stake in Trecobat, a house-builder focused on Brittany.
UK - Charterhouse acquires Drive Assist from TA Associates in EUR 380m deal
TA Associates has made returns of 3.3x its money through a sale of credit hire company Drive Assist UK Ltd to Charterhouse Capital Partners. The enterprise value of EUR 380m will reap an IRR of 44% for the investor which decided to exit following pro-active...
UK - Shackleton acquires four companies from 3i
Shackleton Ventures, the newly formed secondaries venture capital firm has agreed to purchase four investments from 3i. Shackleton was formed in July 2006 and can drawn on up to ТЃ20m of funds from its European fund-of-funds investor.
UK - Amadeus leads $10m investment in ip.access
Amadeus Capital Partners has led a follow-on round of financing of $10m in ip.access, a developer of cellular picocell and femtocell (cellular-over-IP) technologies. Existing investors Intel Capital Corporation, Rothschild & Cie Gestion and Scottish Equity...
UK - Star Capital Partners in £141m flight simulator deal
Star Capital Partners has acquired two flight simulator operators for a total consideration of ТЃ141m. The investment is being made from its second infrastructure fund leading commentators to suggest that high demand for infrastructure assets is resulting...
FRANCE - European Capital discloses its investment in Delsey
European Capital has announced that it provided a EUR 120m unirate loan to finance the buyout of luggage brand Delsey by Argan Capital.
US - Blackstone buys Equity Office for $39bn in world's largest buyout
The Blackstone Group has secured the worldтs largest leveraged buyout, agreeing a $39bn price (ТЃ20.2bn) for Equity Office, the biggest office landlord in the US. Blackstone won the deal after fending off competition from real estate investment trust...
UK - Cinven and Blackstone are hungry for latest restaurant target, La Tasca
AIM-listed La Tasca, an operator of 70 Spanish themed restaurants across the UK with four in the US, is reported to be the latest restaurant chain to attract the interest of private equity. Blackstone and Cinven are both expected to be interested in the...
UK - Carlyle to complete full exit from Qinetiq
The Carlyle Group is to dispose of its remaining 10.3% stake in Qinetiq, the former Ministry of Defence laboratories. Qinetiq was floated on the main market of the London Stock Exchange with a market capitalisation of ТЃ1.4bn in January 2006 at which...
FINLAND - Amanda Capital acquires competitor Proventure
Fund-of-funds manager Amanda Capital Plc has acquired the entire share capital of Proventure companies for EUR 10m in cash. The net asset value of the acquired companies totalled EUR 7.1m as of 31 December 2006.
UK - Endless provides lighting firm with backing to make acquisitions
Endless has provided lighting firm Dernier & Hamlyn (D&H) with growth funding to support the acquisition of two lighting companies, Tindle Lighting and Reid Lighting.
UK - Graphite Capital enlarges Park Holidays
Graphite Capital is backing the acquisition by Park Holidays UK of two more holiday parks: Landscove and Riviera Bay Holiday Parks at Berry Head, Brixham. This purchase brings the number of acquisitions made by Park Holidays to four since Graphite first...
ITALY - Clessidra to form joint venture with Pirelli
Reports in the Italian press suggest that private equity fund Clessidra is eyeing up the commercial services sector.