News
SWEDEN - SVCA attends Swedish political seminar
The SVCA contributed to the annual political seminar, Almedals Veckan, in Sweden. The event, which a number of different political parties attended, was held in Gotland.
UK - Inflexion refinances Ilchester Cheese Company
Inflexion Private Equity has refinanced its portfolio company Ilchester Cheese Company, a Somerset-based producer of blended cheese. Lloyds TSB provided the £5m debt and working capital facility for the refinancing.
ITALY –Investitori Associati joins the pack of suitors for CIT
Struggling travel business CIT has received the interest of six buyers so far. The company – which is nearing liquidation, with losses reportedly surpassing EUR 150m – aims to find a buyer by the end of September.
UK - Blackstones quits plans to delist FKI
Blackstone has ended talks with engineering group FKI about a possible £768m take-private deal. The London-listed group announced that it was in contact with a suitor in May this year.
FRANCE - Eurazeo and its LPs invest EUR 500m equity in Elis deal
French buyout house Eurazeo and Eurazeo Co-Investment Partners (ECIP) provided around EUR 500m in equity out of a total transaction value of EUR 2.28bn for the tertiary buyout of textile rental business Elis.
UK - Modus completes second deal with £11.4m development capital investment
Modus Private Equity has backed insurance administrator Fish Administration Ltd with £11.4m of development capital. The deal represents MPE's second since being set up 12 months ago by Paul Newton, Mike Rogan, Paul Hogarth and Brendan Flood.
CEE - Penta is interested in Polish press kiosk chain Ruch
It is widely reported that Penta Group is considering making a bid for Ruch, a Polish press kiosk chain. The Polish Treasury, which sold a minority stake in the company last year, plans to sell a 50% stake plus one share.
GERMANY – Burda Digital Ventures invests in Tripsbytips.com
Burda Digital Ventures has acquired a minority stake in German online community Tripsbytips.com. The transaction value has not been disclosed.
UK - Index leads $30m round for Viagogo
Index Ventures has led a $30m funding round for Viagogo, bringing its total venture backing so far to $50m. The company is an online ticket reseller. A number of private investors have also contributed to the fundraising round. Viagogo intends to break...
UK - Entries due by Friday for the the unquote” Awards
The deadline for the unquote” Private Equity Awards 2007 is THIS FRIDAY, 10 August. The event will be held on 28 November at The Royal Horticultural Halls in London, SW1P. Now in its third year, the evening brings together more than 500 industry professionals...
UK - Virgin Media auction delayed
The auction that would see Virgin Media taken private has reportedly been delayed. The communications group cited turbulence in the debt markets as the reason for the postponement. A deal may not now complete until early 2008.
UK - Morgan Stanley appoints Brian Magnus as joint European chief of $6bn buyout fund
Morgan Stanley has announced that Brian Magnus, its UK head of investment banking, is to join Graham Keniston-Cooper as joint European chief of its new buyout fund. The bank is planning a $6bn fund after a five year holiday from the buyout market - its...
SWEDEN - Apax sells Global Refund to BPE for over EUR 360m
Apax Partners has sold Global Refund, a Swedish VAT refund service, to Barclays Private Equity for a sum in excess of EUR 360m. As part of the transaction, the management team will continue to be shareholders in the company.
SWEDEN - EQT is expected to list Duni despite market shake up
There is mounting speculation that EQT portfolio company Duni AB, the Swedish producer of high quality products for the catering and service industry will be floated. EQT has held Duni since 2001. According to press reports Duni has struggled to get on...
RUSSIA - Lion Capital acquires Nidan
Lion Capital has reached an agreement with the shareholders of Nidan Soki to acquire the Russian branded juice business. The transaction, which is conditional upon regulatory approval, is expected to close in September. Nidan was advised by Troika Dialog,...
UK - West Coast Capital has three days to make rival offer for Dobbies
West Coast Capital has been given three days by the Takeover Panel to make a rival offer for Dobbies. The Scottish gardening chain is currently the subject of a £15 per share recommended bid by Tesco. The UK retailing giant owns 32% of the shares with...
UK - Private equity set to reclaim struggling Esporta
Esporta is reported to be on the brink of going into administration. The gym chain was acquired by the Halabi family trust from Duke Street Capital in November 2006 for an undisclosed sum. It is understood debt worth £330m involved in Halabi's takeover...
UK - Enterprise Ventures completes further investment in Into Technology
Enterprise Ventures has completed a further investment in e-trading platform specialist Into Technology Holdings Ltd through its RisingStars Growth Fund. The £1.25m funding package included commitments from other existing investors North West Equity...
UK - Cambridge Angels backs ionscope with £680,000 funding round
Cambridge Angels Group has provided microscope technology company ionscope Ltd with £680,000 of funding. ionscope was formed by Imperial Innovations.
UK - Street Capital backs buyout of PCTI Solutions
Irish private equity investor Street Capital has backed the buyout of software business PCTI Solutions Ltd. PCTI is an electronic document management service provider to the UK primary healthcare sector.
UK - BOSIF participates in £925m acquisition of David Lloyd Leisure
Bank of Scotland Integrated Finance (BOSIF), together with London & Regional Properties (L&R), has provided an integrated debt and equity package to facilitate the Next Generation Clubs (NGC) £925m acquisition of David Lloyd Leisure Ltd (DLL) from Whitbread...
ITALY - Barclays Private Equity acquires catering business
Barclays Private Equity has completed the management buyout of Gemeaz Cusin Ristorazione and Scapa Italia from the Accor Group. It is understood that the sale of the two businesses is part of Accor's disposal strategy of non-core Italian assets to focus...
GERMANY – NORD Holding acquires Julius Heywinkel GmbH
Nord Holding Unternehmensbeteiligungsgesellschaft mbH has acquired the Julius Heywinkel Group from the Wilhelm Karmann Corporation for an undisclosed sum. The management also invested and will retain a minority stake in the company.
GERMANY – AUCTUS acquires electronics GmbH
AUCTUS Management GmbH has acquired a majority stake in German electronic manufacturing services electronics GmbH. The transaction value has not been disclosed.