News
UK - LDC appoints Truett Tate as its new chairman
Truett Tate, group executive director of Lloyds TSBтs Wholesale & International Banking division, has been appointed chairman of LDC. Tate succeeds Michael Joseph, who left the bank earlier this year to pursue other interests.
ITALY - Last call for Alitalia offers
The deadline for submission of offers for Alitalia is today.
GERMANY - Baird Capital sells Hahl
Baird Capital Partners Europe has announced the sale of Munderkingen-based Hal to Lenzing Plastics GmbH for an undisclosed amount. The financial investor had acquired Hahl in a management buyout in April 2003 from its US-based parent company.
GERMANY - Baird Capital acquires Zarges Tubesca
Baird Capital Partners Europe has acquired the Zarges Tubesca Group from funds advised by Taros Capital for a total consideration of EUR 156m. Baird intends to grow the company, together with the incumbent management team, organically and through further...
FRANCE - Iwedia raises additional EUR 4m
Software developer Iwedia has raised an additional EUR 4m in its fourth round of funding from its historical investors. CDC Entrprises Innovation, the company’s largest shareholder, was accompanied by I-Source Gestion, iXCore and Thales Corporate Venture....
UK - Imperial Innovations participates in £6m funding round for Circassia
Imperial Innovations Group has invested ТЃ2m in immunotherapy company Circassia Holdings Ltd to develop its allergy vaccine further. The investment in Circassia, is part of a ТЃ6m funding round that included Landsdowne Partners and Tudor Capital and is...
UK - Sovereign Capital expands team
Sovereign Capital has expanded its investment team with the appointment of George Williams as investment manager. This brings Sovereignтs investment professionals to 18.
GERMANY - Second profit warning at Deutsche Telekom
Deutsche Telekom AG, in which the Blackstone Group holds a 4.5% stake, has issued a second profit warning in six months. The company is blaming fierce competition in Germany and the weak US dollar for a cut of up to EUR 1.2bn from 2007 forecasts. Europe's...
NORWAY - Hydro invests NOK 22m in database technology company
Hydro has invested NOK 22m in Tektonisk and its ShareCat database technology. ShareCat is used by a number of international oil and gas producers to share information between suppliers and subcontractors on the type of equipment used in connection with...
GERMANY - New appointment at German Capital's ALNO
German Capital owned kitchen manufacturer ALNO AG has appointed Hans-Peter Haase as new chairman of the supervisory board. He succeeds Dr Walter Döring, who resigned after more than two years.
UK - Countrywide shareholders reject 3i bid
3i's ТЃ971m bid for Countrywide has failed to gain the 75% of shareholder votes that it needed to be successful.
EUROPE - Advent International announces global promotions
Advent International has announced the promotion of 13 members of its global investment team.
UK - Grant Thornton appoints Simon Davies as partner
Grant Thornton has appointed Simon Davies as a partner in the firm's corporate finance practice taking place with immediate effect. The appointment comes on the back of a record year in 2006, during which the firm advised on 166 corporate finance transactions...
SWEDEN - Apax sells Mölnlycke to Investor and Morgan Stanley for EUR 2.85bn
Funds advised by Apax Partners has sold surgical and wound care applications provider Mölnlycke Health Care Group (MHCG) to Investor AB and Morgan Stanley Principal Investment (MSPI) for EUR 2,850m.
ITALY - Private equity courts Tiscali
Market sources suggest that a number of private equity firms, including BC Partners, Permira, Apax, CVC and Investitori Associati, have shown interest in Tiscali.
GERMANY - Lindsay reduces stake in Klöckner
Following the IPO of Klöckner & Co AG in June 2006, US private equity investor Lindsay Goldberg & Bessemer has sold a further 29% stake in the German steel trader. 13.8 million shares were sold at EUR 33 each, valuing the transaction at EUR 455m. Deutsche...
GERMANY - Fresh funding for Sulfurcell
Sulfurcell Solartechnik GmbH has completed its latest financing round. The funding will be used for product development as well as expansion of the company’s production capacity. New investor Masdar Clean Tech Fund LP, managed by Credit Suisse, New York,...
UK - Electra Private Equity to sell Capital Safety
Electra Private Equity is reported to be putting Capital Safety, the height safety equipment business, up for sale. It is thought the asset will fetch between ТЃ200-250m at auction with Permira and Advent International expected to bid.
UK - Barclays Private Equity sells Phase Eight to Kaupthing consortium
Phase Eight, the womenтs wear retailer, has been sold by Barclays Private Equity, in a deal that values the company at ТЃ51.5m. Phase Eight has been acquired by an investor consortium comprising management, Kaupthing Principal Investments, the Tchenguiz...
UK - New ECF E-Synergy makes first investment
E-Synergy has made its first investment from its recently launched ТЃ30m Sustainable Technology Fund by providing Earthcare Products Ltd with ТЃ325,000. Earthcare is developing and commercialising new natural refrigerants that can enhance energy efficiency...
FRANCE - Ciclad injects EUR 6m in real-estate manager
Ciclad has invested EUR 6m in two tranches in Maisons de Biarritz, a multi-activity real-estate management business.
SPAIN - Nazca buys Acens Technologies alongside management
Nazca Capital has wholly acquired IT outsourcing business Acens Technologies alongside its management. Although the consideration has not been disclosed, the deal is understood to be worth around EUR 40m.
UK - Synergis invests £1.6m in cell encryption technology
Synergis Technologies has committed ТЃ1.6m in Cellcrypt, a company focused on secure voice encryption software for mobile phones and other mobile devices. Established in 2005, Cellcrypt is based in London with offices in California.
UK - Rutland acquires ATM operator in £45.3m deal
Rutland Partners' portfolio company Notemachine Ltd has acquired TRM (ATM) Ltd, the UK operations of TRM Inc. for ТЃ45.3m. Notemachine, formerly Scott Tod was delisted from AIM by Rutland in September 2006 and TRM is a complementary business involved...