News
UK - NBGI floats Superglass generating 10.7x returns
NBGI Private Equity has recouped 10.7x its investment through the IPO of Superglass on the London Stock Exchange. The listing enables NBGI to divest its 50.9% stake generating an IRR of 244% on its two year involvement with the glass wool insulation manufacturer....
UK - Hotbed, YFM and Albany in £3.49m fundraising for Mtivity
Hotbed, YFM Group and Albany Ventures are together investing £3.49m in software company Mtivity. Hotbed provided £1.55m of the total funding package. The investment was introduced to Hotbed by Albany, a specialist early-stage technology investor.
GERMANY - UTT Group changes hands
DZ Equity Partner has backed the management buyout of German textile manufacturer UTT Technische Textilien Group from BPE Private Equity. The transaction value has not been disclosed. The UTT management team reinvested and now holds a 51% stake in the...
EUROPE - EVCA defends private equity at European Parliament Forum
At the European Parliament’s Financial Services Forum last night, EVCA secretary general, Javier Echarri, strongly defended the role and wider function of Private Equity. “Those who demonise Private Equity should consider the law of unintended consequences...
EUROPE - EVCA changes address
EVCA (the European Private Equity & Venture Capital Association) moves to the centre of Brussels, close to the Parliament and Commission offices, at the end of this week. EVCA’s new address will be: Bastion Tower Place du Champ de Mars, 5 1050 BRUSSELS....
DENMARK - PharmaZell acquires GEA Pharmaceutical
AUCTUS Management portfolio company PharmaZell GmbH has acquired a controlling stake in GEA Pharmaceutical from Sandoz. GEA Pharmaceutical focuses on the development of solid finished dosage forms, offering all services related to pharmaceutical development...
UK - August acquires specialist healthcare provider
August Equity has supported the management buyout of Lifeways Community Care Ltd. Lifeways is a market leading provider of supported living for people with complex needs, offering nationwide coverage. HSBC provided debt to support the deal. Previously,...
UK/US - 3i appoints Willem Mesdag to US growth capital board
3i has appointed Willem Mesdag to the board of directors of its US growth capital team. A former Goldman Sachs banker, Mesdag is a managing partner of US-buyout group Red Mountain Capital Partners.
UK - Boots CEO and retail director quit
Just weeks after KKR completed Europe's largest buyout, the retailer's two most senior executives have handed in their notice. CEO Richard Baker and retail director Scott Wheway addressed the Nottingham headquarters yesterday to pass on the news.
GERMANY - Hörmannshofer changes hands
BayernLB has acquired German insulation specialist Hörmannshofer from AXA Private Equity. The transaction value has not been disclosed. Management also invested and hold a minority stake. In 2002, AXA Private Equity and management acquired Hörmnannshofer...
AUSTRIA - Capital Management Partners exit Unterland
Capital Management Partners, a turnaround specialist, has sold Unterland Flexible Packaging AG to Mondi Plc. The value of the transaction is said to be EUR 76m.
UK - Admiral Group pulls plug on Confused.com sale
Motor insurance firm Admiral Group has rejected demands made by a number of private equity suitors bidding for its online arm, Confused.com. In a statement, the company said that private equity involvement would 'weaken the board's flexibility to determine...
UK – Entries open for the Unquote Awards 2007
The unquote” Private Equity Awards 2007 will be held on 28 November at The Royal Horticultural Halls in London, SW1P. Now in its third year, the event brings together more than 500 industry professionals to celebrate the strides the industry has made...
UK - Endless strengthens team with three appointments
Endless has hired three former members of 3i - Peter Yendell, Ian Brown and Andrea Douglas. Yendell joins Endless in the new role of chairman. He was formerly a partner in 3i's growth capital business. Brown joins Endless as head of portfolio management...
FINLAND - Bridgepoint portfolio company makes Belgium acquisition
Bridgepoint-owned A-Katsastus Oy, the Finnish vehicle inspection group, has acquired Belgium’s vehicle inspection company Autoveiligheid NV for an undisclosed sum. The company had net sales of nearly EUR 30m last year and carried out over 800,000 inspections....
UK - MSIF backs Mersey glass firm in £4m deal
A new company set up and funded by Merseyside Special Investment Fund (MSIF) has acquired Lattimer Group, a glass firm, from Hamspon Industries Plc, the international aerospace and precision engineering group. Lattimer Holdings Ltd, whose head office...
SWEDEN - Litorina Kapital makes 4x on exit from SWE-DISH
Litorina Kapital has sold SWE-DISH Satellite Systems AB to Datapath Inc for $56m in cash. The deal has generated returns of 4x Litorina's investment. SWE-DISH is a supplier of mobile satellite communications equipment and related services for broadband...
UK - Catalyst Corporate Finance expands team
Catalyst Corporate Finance has expanded its research team with the recruitment of Simon MacMichael as senior researcher and Rob Pearce as M&A analyst. MacMichael joins Catalyst from Fast Track where he was senior business research manager researching...
UK - Government report on private equity to be delayed
The House of Commons' Treasury Select Committee will delay until October recommendations on changes to the governance of the pirvate equity industry in the UK. The House of Commons was originally expected to publish a report before the annual summer...
UK - NBGI reaps 6x return on outdoor clothing exit
NBGI Private Equity has reaped 6x its investment on the sale of outdoor clothing retailer Mountain Warehouse. Mountain Warehouse has been acquired by its management team in a £15m tertiary buyout deal with backing from Kcaj, the investment company of...
UK - Rutland acquires Attends from 3i for EUR 93.5m
Rutland Partners has acquired Attends Healthcare Holdings Ltd from 3i for EUR 93.5m. Attends is the trading name of the European operations formerly known as PaperPak which 3i acquired in a EUR 95m deal in 2002. Rutland has invested approximately £21.5...
EUROPE - H1 buyout deal volume up in UK and France, down in Germany
Buyout deal volume in France and the UK in H1 2007 was up on the figures for both 2005 and 2006, although German volume has slowed this year against 06. According to preliminary data from Unquote"/Private Equity Insight, 102 deals have been completed...
UK - HIG Capital hires Paul Canning from Gresham
Paul Canning has joined HIG Capital from Gresham Private Equity. Earlier this week, HIG Capital announced the final close of its European-focused fund on its hard cap of EUR 600m. The vehicle will invest in companies with an enterprise value of no more...
MALTA - GMT acquires Melita Cable Plc
GMT Communications Partners (GMT) has acquired Melita Cable Plc, the leading provider of television, broadband and telephony services in Malta, from Nasdaq-listed Liberty Global and the Gasan Group of Companies. GMT is focused exclusively on the communications...