News
ITALY - Sisal SpA to be sold in EUR 1.3bn secondary buyout
The newspaper Il Sole 24Ore has reported that Sisal SpA, a portfolio company of private equity firm Clessidra, is due to be sold to another group in a secondary buyout that can reach the sum of EUR 1.3bn.
UK - Lovells boosts private equity team in London
Lovells has continued its programme of strengthening its London private equity capability with the recruitment into the partnership of DLA Piper Rudnick Gray Carey partner Tom Whelan and Fried Frank Harris Shriver & Jacobson senior associate Stephanie...
BELGIUM - Carlyle acquires FRS Global from S1 Corporation
The Carlyle Group and technology investor Kennet Partners today announce that they have acquired FRS Global from S1 Corporation (NASDAQ: SONE). FRS Global is headquartered in Belgium and employs 190 people. It has the largest installed customer base in...
UK - Barclays Ventures backs MBO of Sitec T&C Ltd
Barclays Ventures has backed the incumbent management team of Sitec T&C Ltd investing ТЃ5m as part of a transaction that values the company at approximately ТЃ23m. Sitec is the UK's leading independent provider of rail signalling testing and commissioning...
UK - IPO of Cineworld back on
The Sunday Times reported yesterday that Blackstone is to revive its plans to float Cineworld, Britain's second largest cinema chain. The planned IPO was pulled in June due to market volatility.
UK - Hermes backs Mayfair Gaming to acquire Beacon Bingo
Hermes Private Equity, together with Mayfair Gaming, has acquired Thomas Estates, the owner of three large Beacon Bingo clubs, and 24 Showboat adult gaming centres (AGCs), from the Thomas family. Deloitte and Linklaters advised Hermes Private Equity and...
UK - Lloyds TSB boosts acquisition finance team
Ian Brown is to join Lloyds TSB as a managing director within the bankтs acquisition finance team. In a newly formed role, Brown will head a team specifically created to target larger financial sponsors and win more lead managed underwriting roles for...
CZECH REPUBLIC - Mid Europa sells cable company
Central and Eastern European investor Mid Europa Partners (MEP) has sold its 82% stake in Czech cable company Karneval Media to UPC, the Czech Republic’s number one player. The EUR 322.5m deal saw the bankers of UPC (Deutsche Bank and JPMorgan) take control...
UK - NBGI Private Equity acquires recruitment business for £11.2m
NBGI Private Equity has acquired hotgroupтs traditional recruitment consultancy business for ТЃ11.2m from Trinity Mirror plc, the UKтs largest newspaper publisher. The business has been renamed тOchre Houseт.
GERMANY - Baird Capital Partners Europe acquires Prettl
Baird Capital Partners Europe has acquired a majority stake in Prettl Appliance Systems Group. The company, which is being sold by its family owners, specialises in the development and production of control panels for white goods.
GERMANY - Michael Schneider to chair BayBG supervisory board
Michael Schneider has been elected to chair the supervisory board of BayBG Bayerische Beteiligungsgesellschaft. Schneider is acting head of the executive commitee of LfA Förderbank Bayern, the largest single shareholder in BayBG.
FINLAND - Sentica buys cleaning solutions business
A fund managed by Sentica Partners has acquired the entire share capital of Finnish industrial cleaning technology supplier Finnsonic Ltd.
SPAIN - 3i sells its stake in TCB
Private equity firm 3i has sold its 30% stake in logistics operator Group TCB (Terminal de Contenidors de Barcelona), to the family Pérez Maura, owner of shipping management group Pérez y Cía. The deal value has not been disclosed.
UK - Clayton, Dubilier & Rice strengthens European team
Clayton, Dubilier & Rice Inc (CD&R) has announced that Marco Herbst has joined the firm as a senior principal. Herbst, formerly of Duke Street Capital, will be based in CD&R's London office.
SWEDEN - Bank of Scotland opens offices in Stockholm
Bank of Scotland has announced the opening of its new corporate banking office on Norrmalmstorg in Stockholm. The office will offer corporate banking services including acquisition finance, corporate banking, real estate finance, infrastructure finance...
FINLAND - CapMan records 24% increase in capital under management
CapMan has reported that its capital under management has increased by 24% in the first half of 2006 from the comparative period last year. Its capital under management totalled EUR 2,322m on 30 June 2006 compared to EUR 1,872m on 30 June 2005.
UK - Corbett Keeling appoints new chairmen
Corbett Keeling, the specialist management buyout adviser, is pleased to announce that it has had a record period in its financial year ended 31 July 2006. This is mainly due to multiple successes in its core area of advising management teams on financing...
UK - Sir James Crosby joins Bridgepoint Advisory Committee
Bridgepoint, the European private equity firm, has appointed Sir James Crosby to its European Advisory Committee. Sir James recently stepped down from the board of HBOS Plc where he had been chief executive since 2001. He had previously been CEO of Halifax...
GERMANY - Tax reform could increase risk of insolvency
According to a front-page report in German financial newspaper Handelsblatt, the German corporate tax reform could seriously worsen conditions for private equity groups operating in the country. Peer Steinbrück's move to abolish tax relief on corporate...
GERMANY - BayBG and S-Partner finance StarMedTech spin-out
BayBG and S-Partner Kapital AG have together financed the management buyout of the urological laser unit of WaveLight AG. Based in Starnberg, the new company will henceforth go by the name StarMedTec GmbH. The company will continue its activities as a...
FINLAND - 3i appoints Hannu Isohaaro as country manager in Finland
Hannu Isohaaro has been appointed country manager of 3i Nordic in Finland as of July 2006. He will replace Ere Kariola, who has moved to a new role as senior adviser of 3i Nordic plc.
UK - Lion Capital acquires Kettle chips with KP Snacks in sight
Lion Capital made the first step on its bid to become the second largest company in the UK snacks market, behind market-leader PepsiCo. It acquired Kettle foods, the maker of Kettle Chips in a deal which values the US-headquartered company at approximately...
ITALY - Carlyle and Finmeccanica sell Avio to Cinven for EUR 2.57bn
The Italian defence group Finmeccanica, and private equity giant Carlyle Group have sold aerospace engine maker Avio to Cinven. The enterprise value of the deal is EUR 2.57bn. Finmeccanica's stake of 30% will be sold for EUR 430m. At the same time, the...
UK - Beringea sells Mergermarket to Financial Times Group
Beringea has agreed to sell portfolio company Mergermarket to the Financial Times Group, a subsidiary of Pearson Plc, the global media company. The sale is subject to regulatory approvals and is expected to complete in Q3 2006 and will generate a total...