News
US - Democrats introduce bill to end capital gains treatment of carried interest
As the private equity community was trying to recover from the UK Treasury Select Committee meeting last Wednesday, news of a bill in the US that proposes to end the carried interest tax advantage emerged. A group of Democratic Congressmen led by Rep....
FRANCE - CAPE backs MBI of Ocean
LCL Régions Développement, a fund managed by Crédit Agricole Private Equity (CAPE), has acquired a minority interest in Ocean on the occasion of the buyout of the company by two incoming entrepreneurs.
UK - Promethean Investments acquires traded endowment policies business
Promethean Investments has acquired a 51% shareholding in TIS Group and a 51% shareholding in Protection Distribution Ltd (PDL). The financial buyer has invested £10m in cash and £40m in debt from its Promethean Investments Fund LP to facilitate the...
UK - Finance South West backs DT Media
YFM-managed Finance South West has invested a substantial sum in software company DT Media. DT Media has just won a major contract to supply the German Air Force with military training software to reduce the risk of ‘friendly fire’. Finance South...
UK - YFM invests £200,000 in The Alternative Energy Company
The Yorkshire and Humber Equity Fund, managed by YFM Group, has invested £200,000 expansion capital in energy equipment supplier and installer, The Alternative Energy Company Ltd. The funding round was boosted by a £50,000 investment from a business...
UK - DN Capital appoints Pierre Suhrcke as managing partner
DN Capital has appointed Pierre Suhrcke as managing partner. Suhrcke will focus on financial service technology companies and development capital deals at DN Capital as well as provide coverage for the German speaking countries. He was formerly the European...
UK - Sovereign continues Kinetics buy-and-build
Sovereign Capital-owned social housing services company Kinetics Group has acquired TA Horn Holdings, taking group revenues to £80m. The deal represents the third acquisition as part of Sovereign's buy-and-build strategy for Kinetics Group. TA Horn is...
UK - Linklaters boosts its banking practice
Linklaters has elected banking partner Brian Gray to join the firm’s London banking practice. Brian Gray specialises in leveraged and acquisition financing, with particular experience in public-to-privates, infrastructure transactions, securitisation...
SPAIN - Codere plans IPO, but will consider options
Gambling business Codere has finally decided to approve its flotation, forecast to happen in the next few weeks. However, the company is said to be in talks with a group of private equity firms and will consider to remain private instead. Another option...
SPAIN - Zenon Capital enters the market
The family Ventura has established its own private equity vehicle, Zenon Capital. The new firm has total capital of EUR 3m.
UK - Global Infrastructure appoints Joseph Blum as partner
Global Infrastructure Partners (GIP) has appointed Joseph Blum as a partner and general counsel, based at the company’s London office. Blum will join GIP on 1 July 2007. He has extensive experience in representing sponsors and financial institutions...
FRANCE - Siparex leads investment in OneDirect
The fund Siparex Midcap and the fund SES Iberian I, which is co-managed by the Siparex and Portugal's Espírito Santo group, have invested more than EUR 3m for a minority ownership interest in OneDirect, a telephone hardware distributor.
UK - BLP expands leverage finance team
Berwin Leighton Paisner has expanded its leveraged finance practice with the recruitment of Philip Whale as a partner.
FRANCE - IT security specialist raises EUR 3m from EdRIP
Edmond de Rothschild Investment Partners (EdRIP) has invested EUR 3m in Exclsuive Networks, a distributor of IT security systems.
FRANCE - AFIC party highlights serentiy of French private equity
AFIC's annual bash was a chance for the industry's leaders to gather and witness the handing over of the trade body's presidency from Eurazeo's Patrick Sayer to Apax's Eddie Misrahi, who, in his inaugural speech, stressed the importance of unity between...
Quote - Barber says private equity not all bad – but keep an eye on Boots
“I do not think all private equity is bad,” the TUC’s Brendan Barber told unquote” when discussing the escalating tension over private equity. “Nor do I think all Plcs are good. No one model is perfect. The crucial difference between the two...
FRANCE - 21 Centrale Partners backs buyout of Groupe Sud Robinetterie
21 Centrale Partners has led the buyout of Groupe Sud Robinetterie (GSR), a manufacturer and distributor of high-end valves for the oil & gas, petrochemical, power generation and chemical industries. The deal was supported by senior and junior mezzanine...
SPAIN - Nmás1 and Dinamia holding high hopes for HIgh Tech IPO
Rumour has it that Nmás1 and Dinamia have hired Credit Suisse to prepare the flotation of hotel chain High Tech. The IPO will probably see the listing of a 60% shareholding (a stake equal to the company's portion owned by the GPs) and will aim to raise...
UK - Imperial Innovations in £2.3m investment in biopharmaceutical company
Imperial Innovations Group, Longbow Capital and The Capital Fund have completed a £2.3m investment in biopharmaceutical PolyTherics Ltd. Longbow Capital’s private client base invested £1.3m, and Imperial Innovations and The Capital Fund invested £750,000...
SPAIN - Corpfin Capital acquires tour operator Catai
Private equity firm Corpfin Capital has completed the acquisition of a 50% stake in travel business Catai Viajes. The remainder will be held by the family Torres, the founder of the group, and the current management team.
UK - LDC boost South team
LDC has boosted its South team three new appointments. Adrian Willetts, James Austin and Richard Stewart join the existing team headed by Regional Managing Director, Kevan Leggett. Willetts joins LDC as director with a focus on new business and supporting...
AUSTRIA - Mid Europa in EUR 1.4bn One mobile deal
Mid Europa Partners has teamed up with France Telecom/Orange to acquire One GmbH, the third largest mobile operator in Austria, in a EUR 1.4bn deal. This transaction is expected to close within the next three months. It is the second largest buyout in...
UK - Treasury Select Committee grills LBO representatives
Four representatives from the world's biggest buyout firms answered to a group of MPs at today's Treasury Select Committee. Whatever they felt privately about being made to account for the industry, publicly, the hearing was welcomed. "It's very important...
NORWAY/SWITZERLAND - ReVolt Technology raises EUR 10m
ReVolt Technology AS, a developer of rechargeable Zinc-air batteries, has raised €10 million in second-round funding. Backers include Northzone Ventures, Sinvent, Sofinnova Partners, TVM Capital, Verdane Capital and Viking Ventures. Revolt Technologies...