News

UK - Calyon strengthens leveraged finance team

Calyon has strengthened its leveraged finance team in the UK with the appointment of a team of six from the Bank of Ireland. Grant Gardner joins as managing director with executive directors Allan Clawson and Nathan Hawkes, director Nick Bellis, assistant...

UK - Warner Music Group to enter fray for EMI

Terra Firma's recommended £3.2bn bid for music publisher EMI is likely to feel the heat of a rival bid in coming days. Warner Music Group's desire to combine with EMI was strengthened upon yesterday's news that the European Commission had given its approval...

EUROPE - European venture performance takes off

The returns from European venture have never been better, with new performance figures now exceeding even the lofty heights seen in 2001. “The GPs left in this space are the cream that has risen to the top,” says Charles Irving at Pond Ventures. “It...

ITALY - SEAT Pagine Gialle on the lookout for buyers

Following months of speculation about the future of SEAT Pagine Gialle, press reports suggest that the directories business is up for sale. Rumour has it that Lehman Brothers has been hired by the private equity consortium (comprising of Permira, CVC...

NORWAY - Verdane makes 5x with Reslab divestment

Verdane Capital Advisors has agreed to sell its 33% stake in Reslab, Resevoir Laboratories AS to Weatherford International, an NYSE-listed company (WFT ticker). The transaction, which will formally close in June, sees Verdane Capital Advisors realising...

GERMANY - TPG exits Freenet Stake to Vatas

TPG has sold its stake in German telecommunications provider freenet AG to a subsidiary of Berlin-based private investment firm VATAS for an undisclosed amount. TPG exited its 12.45% stake and at the same time TPG-Axon exited its 6.22% holding.

UK - BC Partners snaps up Foxtons

BC Partners has acquired London-focused estate agency chain Foxtons in a deal believed to weigh in at approximately £400m. The private vendor appointed Credit Suisse to run a process to dispose of the asset. TA Associates and 3i were thought to have...

UK - EMI agrees to Terra Firma's £3.2bn offer

EMI's board has agreed to a 265p per share offer from Terra Firma. The bid represents an enterprise value of £3.2bn for the music publishing giant. Terra Firma's agreed offer with London-listed EMI follows a year of speculation about the ownership of...

UK - Quadrangle opens London office

Quadrangle Group has opened a London office to expand the firm's private equity activities in Europe. The firm is currently investing its second private equity fund, Quadrangle Capital Partners II, which has over $2bn in committed capital. Gordon Holmes,...

NL – Emerald Technology Ventures invests in fluXXion

Emerald Technology Ventures has led a EUR 6.4m financing round in Dutch micro filtration technology company fluXXion. Other investors joining the round include Capricorn Cleantech Fund, WHEB Ventures as well as existing investor Koninklijke Philips Electronics.

NORWAY - Nordic Capital sells Nopco Paper Technology

Nordic Capital Fund III has divested Nopco Paper Technology AS, producer and supplier of additives for the pulp and paper industry, to its management and Glitnir for an undisclosed sum. Nordic Capital supported the carve-out of Nopco from Henkel back...

WORLD - Blackstone in $3bn Chinese coup

When Blackstone announced it was to list on the NYSE, it provoked much discussion, but few mused over its potential impact on Chinese-US relations. Unsuprisingly, no one foresaw China's announcement that it will invest $3bn of its $1.2 trillion foreign...

UK - Advent acquires Lloyds TSB Registrars

Advent International has acquired the share registration business of Lloyds TSB plc, Lloyds TSB Registrars, for £550m. Advent is backing the existing management team led by Managing Director David Winton. The business is headquartered in Worthing...

UK - Hermes sells Walbrook to Barclays Bank

Hermes Private Equity has sold independent fiduciary company Walbrook Group Limited to Barclays Bank PLC. Hermes backed the management buyout of Walbrook in December 2003 from Deloitte and in January 2006 Walbrook acquired the Deloitte office in Hong...

EUROPE - Private equity to take the stand

The Commons Treasury Select Committee in the UK has summoned five of Europe ’s biggest private equity chiefs to attend a meeting on 20 June, which as been called a sort of ‘public hearing’ in a report in today’s Financial Times. The industry...