News
UK - Final furlong in chase for Racing Post
Exponent and Veronis Suhler Stevenson have tabled a joint bid for Racing Post a Trinity Mirror publication. NM Rothschild is running the auction process and has set a deadline of May 16 for offers to be received. Sheikh Mohammed bin Rashid al-Maktoum,...
UK - Electra in 5x exit from CSG via sale to Candover
Electra Private Equity has sold height safety equipment company Capital Safety Group to Candover in a $565m transaction. The deal has generated a multiple in excess of 5x Electra's investment, equivalent to an IRR of 23%.
UK - Beringea participates in £5.5m AIM placing
Beringea, the manager of the ProVen and ProVen Growth & Income VCTs, has invested in the £5.5m AIM placing by intellectual property exploitation specialists, Coolabi Plc. Beringea is one of the largest shareholders in the company.
FRANCE - Metabolic Explorer takes legal action over IP issues
Metabolic Explorer (ME) announced its intention to take legal action against Philippe Malière and Alain Gallochat of Holditech Heurisko in order to prevent them from continuing the ''campaign of disparagement'' they are currently undertaking with regard...
LUXEMBOURG - Mangrove invests in Jambaz
Mangrove Capital has reportedly provided seed-financing to Luxembourg-based Jambaz, a creator of a game widget that lets people predict the stock movement on a daily basis while offering cash prices to the most accurate calls. No further details have...
UK - Blackstone, Bain, CVC and Cinven interested in CDR's Brakes
Clayton, Dublier & Rice has appointed JPMorgan and Deutsche Bank to sell portfolio company Brakes, the food distribution business formerly known as Brakes Bros. The transaction is expected to fetch up to £1.3bn. CDR delisted Brakes in 2002 when it had...
FRANCE - Apax Partners SA merges its listed vehicles
Apax has announced the planned merger of its two listed investment vehicles Altamir and Amboise.
UK - Kelso Place acquires sub-prime mortgage broker TML
Kelso Place Asset Management has completed the acquisition of TML Financial Solutions, a subsidiary of Kensington Group Plc. The new independent company will trade under its previous name, The Mortgage Lender. The Mortgage Lender, a specialist sub-prime...
UK - Apollo to save troubled Focus DIY?
Apax and Duke Street Capital portfolio company Focus DIY is believed to be on the brink of a rescue deal with Apollo Management. The DIY retailer has struggled with its debt load for the last two years following worsening conditions in the home improvement...
UK - Marsh strengthens private equity team
Marsh has strengthened its private equity and M&A (PEMA) team with the appointment of David Pellegrino to the new role of business development leader for PEMA in Europe, the Middle East and Africa. Pellegrino has relocated to London from Marsh’s New...
SPAIN - Cinven leaves CVC-PAI-led Altadis consortium
Cinven is said to have left the consortium led by CVC and PAI Partners, reportedly preparing a bid for cigarrette producer Altadis.
UK - Enterprise Ventures appoints Julian Viggars
Enterprise Ventures has appointed Julian Viggars to manage its technology investment arm. Viggars, previously technology portfolio director at EV, will head up a team of four focused on early-stage technology investment in the Northern regions and oversee...
UK - ECI acquires CliniSys in £61m deal
ECI Partners has acquired healthcare IT company CliniSys for £61m plus an earn out of up to £2m from its founding shareholders, some of whom are re-investing in the business. Headquartered in Surrey and with operations in Belgium, The Netherlands, France,...
UK - Michael Joseph joins DE Shaw
Michael Joseph has joined DE Shaw, the US investment group, to head up its London-based investment team. Joseph was previously a senior director at Lloyds TSB and LDC.
FRANCE - Triago to open Dubai office
Placement agent and secondaries specialist Triago is to open a new office in Dubai before the end of 2007, according to press reports.
UK - RBS backs £21m buyout of chemicals business Tocris
Royal Bank of Scotland has backed the £21m management buyout of speciality chemicals business Tocris Cookson Ltd from its founding shareholders. The deal sees RBS taking an equity stake in the newco having provided a combined equity and debt package....
UK - Quester and YFM in £600,000 third round for Symetrica
YFM Group and Quester join other investors NESTA, the SULIS Seedcorn Fund and Tennants Ventures on a third round of funding totalling £600,000 for gamma radiation detector specialists Symetrica. NESTA first invested in Symetrica in September 2004 in...
UK - New Look IPO off
Rumours that Apax and Permira were going to float portfolio company New Look were unfounded. The high street fashion retailer looks set to change private equity hands, with Merrill Lynch appointed to run an auction. KKR, CVC and Texas Pacific Group are...
ITALY - PM & Partners acquire financial services player
Via its fund Emerald, private equity firm PM & Partners has acquired a 55% shareholding in Maccorp, a Milan-based company providing exchange and money transfer services.
ITALY - MPS Venture acquires minority stake in Pramac
Regional expansion fund Siena Venture, managed by the private equity arm of bank Monte dei Paschi di Siena (MPS Venture), has acquired a 3.2% stake in machinery player Pramac SpA from its founders via a public offering.
NORWAY - HitecVision to invest in Poseidon Group
HitecVision Private Equity has invested in Poseidon Group, a supplier of engineering, system solutions, technology and consultant services within construction, operations and maintenance of subsea oil and gas fields. The investment gives HitecVision a...
UK - LGV seeks further asset in dental healthcare sector
It is thought that Legal & General Ventures is considering a bid for AIM-listed dental group Oasis Healthcare. The Norwich-based company's shares rose a fifth yesterday on the back of news that it had received several preliminary approaches.
ICELAND/NORWAY - Glitnir appoints new CEO
Lárus Welding has been appointed new CEO of Glitnir, after Bjarni Ármannsson, who has served as the bank´s CEO for the past 10 years. Welding has previously been managing director for Landsbanki´s London Branch since 2003. Welding joined Landsbanki...
GERMANY - Mauser AG changes hands in EUR 850m transaction
One Equity Partners have sold Mauser AG for EUR 850m to fellow financial investor Dubai International Capital. In May 2003, One Equity Partners had acquired the industrial packaging specialist for an undisclosed amount.