News
UK - Apax in the running for Loot?
Daily Mail and General Trust is reported to be selling classified advertising magazine Loot. Apax the co-owner of the Autotrader classified magazine brand with Gaurdian Media Group is understood to be interested in the title. Loot was valued at £190m...
UK - Private equity gears up for Ford's UK assets
One Equity Partners, Ripplewood Holdings and Cerberus Capital Management are amongst the private equity groups gearing up to make bids for Ford's UK assets. Ford is selling off Jaguar and Land Rover to slash its debts. Trade interest in the deal is limited...
UK - Endless acquires Homebuy in £22m buyout
Endless has acquired electrical and household goods supplier Homebuy in a £22m management buyout. Homebuy had a market capitalisation on AIM of £100m before entering administration in September 2006. Endless's investment alongside debt provided by Landsbanki...
FRANCE - Advent International backs LBO of Sophis
Advent has acquired a majority stake in Sophis, a provider of cross-asset, front-to-back portfolio and risk management solutions.
UK - IQ Capital leads series-D funding round in OnRelay
IQ Capital has lead a Series-D funding round in OnRelay Inc. OnRelay is a London-based pioneer in fixed mobile integration with a patented market leading solution for mobilising corporate phone systems. IQ Capital invested alongside Richard Cunningham,...
UK - Alchemy acquires holiday park operator from Phoenix for £83m
Alchemy has acquired South West holiday park operator Weststar Holdings Ltd from Phoenix Equity Partners in an £83m transaction. Alchemy completed the deal through its portfolio company ParkDean. ParkDean was delisted by Alchemy in a £230m deal in May...
NORWAY - TH!NK attracts $60m investment
TH!NK Global, a Norwegian producer of environmently friendly cars, has completed a private placement of $60m from several investors including, DFJ Element and RockPort Capital Partners. Other private high-net worth Norwegian investors including Petter...
NL - KKR cancels EUR 1bn loan to refinance Maxeda LBO
It is widely reported that KKR has cancelled its plan to raise EUR 1bn of loans to refinance Dutch retailer Maxeda BV . The loss of investor confidence in high yield debt is attributed to losses in the US subprime mortgage market.
UK - The Capital Fund leads £700,000 investment in online tool
The Capital Fund has led a £700,000 investment in CInergy International, an online tool which acts as a customer acquisition and retention specialist. The Capital Fund committed £250,000 alongside £472,000 from business angels.
SWEDEN - Industrifonden participates in SEK 20m round in Osteria Sverige
Industrifonden has invested SEK 6m in a SEK 20m round in Osteria Sverige, a company that is in the process of starting to produce and sell oysters.
UK - Path clear for Terra Firma's EMI bid
Terra Firma's bid for EMI will not be facing competition from Warner Music. The rival music group has decided to drop its seven year pursuit of EMI.
UK - Advent International appoints interim advisory board for Lloyds TSB Registrars
Advent International has appointed an interim advisory board pending completion of its acquisition of Lloyds TSB Registrars. Advent won an auction for the share registration business in May of this year paying £550m to secure the deal from vendor Lloyds...
UK - Qatari fund moves for Sainsbury
Delta Two, a fund backed by the Qatari Investment Authority is in talks with retailer J Sainsbury over a possible £12bn bid. It was reported in the Financial Times that a 610p-a-share offer had been tabled, but a statement released by Delta Two stated...
UK - Endless grows its North West team
Endless has strengthened its team in the North West of England with the appointment of Neil Baishnab and Ian Plumb. Baishnab joins as associate director and will be based at Endless' Manchester office. He was previously at Ernst & Young. Plumb joins as...
UK - HgCapital announces senior management changes
HgCapital has announced a series of senior management changes. After seven years as chairman, Leonard Licht will be retiring on 30th September. He will be replaced by current chief executive Ian Armitage. Frances Jacob becomes deputy chairman and will...
NL - Lehman Brothers FOF vehicle raises $500m in IPO
Lehman Brothers Private Equity Partners Limited, a closed-ended private equity FOF investment company, met its target of raising $500m through the IPO of its shares on Euronext Amsterdam. The company issued 50 million shares at $10 per share. Lehman...
ITALY - Lovells moves offices in Milan and Rome
Law firm Lovells has announced the relocation to new offices in Milan and Rome.
FRANCE - Crédit Agricole Private Equity invests EUR 6.6m in Legoupil buyout
Crédit Agricole Private Equity has led the buyout of modular construction specialist Legoupil Industries.
UK - Walker review calls for annual reporting
Sir David Walker delivered his initial report today on disclosure and transparency in private equity and recommended all portfolio companies over a certain size report to an enhanced standard. Those companies valued in excess of £500m, acquired for...
GERMANY - bm-t invests in Lalisio GmbH
bm-t beteiligungsmanagement thüringen gmbh has acquired a 25% stake in German online network Lalisio GmbH. The invested amount has not been disclosed. bm-t has supported the growth of the company since 2006.
UK - Octopus Investments appoints mezzanine manager
Octopus Investments has recruited Stuart Nicol to head up its mezzanine function, which has £50m to invest. Nicol joins following five years at The Capital Fund where he led 14 investments including Avanti, Mtivity and TXT4.
SWEDEN - CapMan and 3i exit Avitec AB
CapMan funds and 3i have exited their investment in Avitec AB. Avitec has been acquired by ECI, the UK-based private equity investor. Avitec manufactures repeaters for mobile telecommunications networks.
CEE - 3TS invests in Romanian Romprest Services
3TS has acquired a 30% stake in Romprest Services SA, the Romanian cleaning and facilities management group. The investment was made from the 3TS Central European Fund II in which 3i is the sole investor.
UK - Endless backs buyout of DavyMarkham
Endless has backed the management buyout of heavy engineering business DavyMarkham Ltd. The investment will underpin the company's turnaround and enable DavyMarkham to re-establish itself as a world-leading brand in the heavy engineering market.