News
UK - 3i sees 3x return from Smart & Cook exit
3i has sold its stake in commercial brokers Smart & Cook via a sale of the company to AXA UK Plc. The deal has generated 3x returns for the investor which backed the company in a £57m buyout in 2004.
UK - Risk Capital Partners makes invesment in listed Public Recruitment Group
Risk Capital Partners has invested £5m for a 28% stake in AIM-listed Public Recruitment Group Plc (PRG). PRG is a leading public sector staffing and services provider, with a special focus on the Education and Social Work sectors.
UK - Bryan Garnier strengthens corporate finance division in London
Bryan, Garnier & Co has strengthened its corporate finance operation in the UK with the move of Bruno Tourne, head of the firm's technology group, to London. Tourne is planning several new hires to bring even more local market knowledge to the firm.
UK - Dundas & Wilson promotes Nadim Meer to partner
Dundas & Wilson has announced the promotion of private equity specialist Nadim Meer to partner. Meer is a corporate lawyer who also advises on M&A deals. Meer, who recently advised on the secondary buyout of ADP Dental Company will focus on developing...
UK - 3i and Doughty Hanson provide Garlik with £6m series-B funding
Online identity experts Garlik have secured £6m in series-B funding from 3i and Doughty Hanson. This equity injection builds on an initial £3m investment from the two firms in January 2006, bringing the total raised to date to just over £9m. It follows...
FRANCE - Industri Kapital to sell Ceva Santé to management-led syndicate
Industri Kapital (IK) will generate an IRR of 40% on the sale of veterinary pharmaceutical laboratory Ceva Santé Animale to a syndicate led by management and including Euromezzanine and Natexis Private Equity.
GERMANY - evidanza receives EUR 2.4m financing
In a second round of financing a consortium consisting of BayBG Bayerische Beteiligungsgesellschaft, S-Refit and KfW have invested EUR 2.4m in software developer evidanza GmbH. BayBG provided part of the funding in form of a 'stille Beteiligung'.
BALTICS - GILD Bankers is joined by a new partner Mr. Kimmo Irpola
GILD Bankers has appointed a new partner - Kimmo Irpola, who has extensive experience in private equity investment management in Finland, Germany and also in Central and Eastern Europe. At GILD Bankers Irpola joins the Investment Management team, where...
UK - Exponent reaches second round of bidding for Trinity Mirror's Midlands titles
Exponent Private Equity is one of three private equity bidders known to have reached the second round of an auction for Trinity Mirror's newspaper titles in the Midlands. The Birmingham Post and Coventry Evening Telegraph are amongst those being sold...
UK - MSIF provides blood testing technology company with £100,000 investment
Merseyside Special Investment Fund has backed PalindromX, a blood testing technology company, with £100,000 of seed funding through its Liverpool Seed Fund. PalindromX is a spinout from the University of Liverpool. It has developed a patented technology...
UK - KKR secures Boots in Europe's largest ever buyout worth £12.2bn
KKR has won the takeover battle for Alliance Boots. The £11.39 per share offer gives Boots an enterprise value of £12.2bn and was enough to see off a rival bid by a consortium led by Terra Firma.
US/UK - SEP leads $17m investment in Heartscape Technologies
Scottish Equity Partners has led a $17m investment in healthcare pioneer Heartscape Technologies, which has launched an innovative device for the early and accurate diagnosis of heart attacks in patients in casualty. SEP led second round funding as part...
SPAIN - Minerva leads acquisition of inductive components player
Premo Group, a company active in the development, manufacture and sale of products and solutions in the inductive component business, was wholly acquired by Minerva Capital alongside a group of institutional investors and management. Spanish press reports...
UK - Mezzanine Management acquires minority stake in Regard from Bowmark
Bowmark Capital has sold Regard, a UK residential care provider for people with learning difficulties. The exit yielded returns of 3.4x and an IRR of 77%. Mezzanine Management has invested £18m in the newco to take a minority stake in a deal which is...
UK - Aberdeen exits ABZ Group returning 3x money
Aberdeen Asset Managers Growth Capital has sold its interest in air conditioning company ABZ Group to Sovereign Oilfield Group Plc for £6m. The deal has generated returns of 3x its money for Aberdeen and an IRR of over 80%. Aberdeen invested £550,000...
NL - Gilde to acquire Bakkersland Banket
Gilde Equity Management Benelux looks set to acquire Bakkersland Banket BV, a confectioner, from Bakkersland Groep BV. Bakkersland Banket provides pastry products for the Dutch food retail and foodservice markets, as well as for the exportmarket and is...
UK - NorthStar Equity leads £2m investment in Femeda
NorthStar Equity Investors with Stargate Capital Management and Acceleris Corporate Ventures have led a £2m investment to Femeda, a female health product company. Existing investor Enterprise Ventures is also taking part in the round, via the RisingStars...
UK - Advent to acquire Lloyds TSB Registrars
It is understood that Advent International is to acquire share registration company Lloyds TSB Registrars in a £550m deal. Advent is thought to have beaten competition from Australian company Link Market Services, backed by Bain Capital, and Doughty...
UK - Accel leads $12m investment in VoIP company
Accel Partners and Venrock Associates have led a $12m series-A investment in VoIP company XConnect Global Networks Ltd. Grazia Equity of Germany and Bridge Capital Fund of Japan (an affiliate of Nikko Antfactory) also participated in the funding round....
UK - Blackstone to float Cineworld
Blackstone is to float Cineworld. The investor had originally planned an IPO of the 72-strong cinema chain eleven months ago but shelved plans due to stock market volatility. The indicative price range has been set at 155-185p which will value the company...
UK - KKR consortium controls quarter of Boots shares
KKR looks to be a step closer to securing the Boots deal today. After recent share purchases the KKR consortium now controls around a quarter of the share capital of Alliance Boots, the FTSE 100 chemist and retailer. Previously KKR's bid was supported...
SPAIN - Investindustrial and Gala Capital buy Panda Software
After over a year of negotiations, buyout firms Investindustrial and Gala Capital have purchased a majority stake of 75% in antivirus developer Panda Software. The remaining stake will be held by founder Mikel Urizarbarrena.
UK - Barclays Ventures reaps 8x returns from Bifold Fluid exit
Barclays Ventures has reaped returns of 8x and an IRR in excess of 60% on its investment in Bifold Fluid Power. The hydraulic pump valve manufacturer has been sold to Bank of Scotland Integrated Finance in a £35m secondary buyout.
GERMANY - bmp invests in Brand New World
bmp has acquired a 10% stake in interactive mobile gaming provider Brand New World, after participating in a EUR 3.15m financing round. Other investors committing to the round are KfW, Creathor Venture, TiBi, Mountain Partners, as well as Business Angels,...