News
SWEDEN - EQT rumoured to buy Scandic Hotels
EQT is believed to announce in the near future that it will acquire Scandic Hotels from Hilton, according to Swedish press reports.
UK - 3i-backed NCP to be subject of £800m tertiary buyout
3i is reported to be in discussions with Macquarie over a possible sale of NCP, the UK car park operator. The deal could fetch up to £800m generating impressive returns for 3i, which acquired NCP from Cinven for £555m in mid-2005. Macquarie had bid...
UK - Apollo launches £1bn formal bid for Countrywide
Apollo Management has launched a £1bn takeover of the UK's largest estate agency chain Countrywide. The offer excedes the £971m bid by 3i earlier this year which was rejected by shareholders after being recommended by the company's board.
SWEDEN - Swedish private equity creates more jobs
Swedish private equity-backed companies have recorded an annual employment increase of almost 10%, as well as a 23% increase in sales. The industry creates more new jobs than listed businesses and represents more than 10% of Sweden's 2005 GDP.
DENMARK - Nordic Capital sells Dangaard to Brightpoint
Nordic Capital has agreed to sell wireless handset distributor Dangaard Telecom A/S to Nasdaq-listed Brightpoint Inc.
FRANCE - Neuf Cegetal buys venture-backed Erenis
French telecom business Neuf Cegetal announced today it had agreed to acquire Erenis, a telephony and internet services provider backed by Iris Capital, AGF Private Equity, Credit Agricole Private Equity, Net Partner and CDC.
UK - Amadeus Capital portfolio company Cambridge Broadband appoints new chairman
Cambridge Broadband, a developer of carrier-class cellular backhaul solutions backed by Amadeus Capital, Accel Partners, TVM Capital and Adara Ventures has appointed John Cronin as the company's new chairman. He succeeds Herman Hauser, a founding partner...
GLOBAL - Bear Stearns acquires private equity placement agent
Bear Stearns has strengthened its private equity fundraising services with the acquisition of Crane Capital Associates’s fund placement business.
SPAIN - Doughty Hanson boosts its real estate team
Fernando San Juan has recently joined Doughty Hanson's real estate team in Madrid.
UK - Atlantic Bridge Ventures leads £265m acquisition of telecom products business
Atlantic Bridge Ventures has led a consortium of private equity buyers in the acquisition of LogicaCMG's Telecoms Products business for a cash consideration of £265m. Telecom Products, to be renamed Acision, is a provider of converged mobile messaging...
SPAIN - Another transport player for Doughty Hanson's fleet
After closing its first deal in Spain by acquiring transport group Avanza, Doughty Hanson is said to be considering a bid for another transport company.
ITALY - Bridgepoint to bid for World Superbikes' organiser
Press reports suggest that Italian FG Group, the company holding the rights to motorcycle championship World Superbikes, is up for sale for around EUR 70m.
UK - 3i expected to sign Enterprise buyout in a month
3i has made a 605p per share offer for maintenance group Enterprise. The deal values the company at £486m and sources close to the buyout expect it to be approved and signed within a month. The current offer represents a premium of 29.5% per share before...
UK - Possible Sainsbury's deal gets even more complicated
Any formal bid for the supermarket retailer Sainsbury's looks set to face complications as news emerges that Polygon has built a 1.5% stake in the company. In the past the hedge fund has taken activist positions and helped scupper the £346m take-private...
UK - Barclays Ventures backs MBO of paper products manufacturer
Barclays Ventures has backed the management buyout of F Bender Ltd, a manufacturer of paper catering products, investing £5.25m for a significant stake. The move secures the future of the company following recent financial difficulties, and comes five...
UK - Endless recruits Nick Leitch to lead new Birmingham office
Endless, the buyout and turnaround fund focused on UK-headquartered businesses, is to open up a new office in Birmingham and has recruited Nick Leitch for the position of investment director to lead the office. The office, which is due to open in March...
UK - Foresight portfolio company benefits from extra funding
Foresight Venture Partners’ investment into greenhouse gas abatement project developer Sindicatum has been followed by a major private equity placement: Citigroup Venture Capital International and the Black River Commodity Clean Energy Investment Fund...
UK - Capital Dynamics appoints Andrew Beaton and David Smith
Capital Dynamics has appointed Andrew Beaton and David Smith. Beaton and Smith had previously established GE Equity Europe’s co-investment business as well as the dedicated co-investment specialist Glenalta Capital LLP.
FRANCE - Bryan, Garnier & Co appoints new hardware and telecommunications director
European investment bank Bryan, Garnier & Co has announced the appointment of Olivier Beaudouin as a director in charge of hardware and telecommunications.
UK - 3i to bid for Enterprise
3i is in talks with Enterprise Plc, a company which provides support services and maintenance to utilities companies, local government and large corporations. It is understood that the offer will be up to 20p higher than a 575p per share bid from an unknown...
FRANCE - BNP Paribas Développement takes 15% of Matel Group
BNP Paribas Développement has acquired a 15% stake in Matel Group, a supplier of products for manufacturers of luminous signs.
UK - EMI in defensive debt-piling move
EMI is seeking to pile more debt onto its books in an attempt to deter private equity bidders. The music publisher was targeted by Permira in late November, early December last year when its shares hovered around the 290p mark. Following a number of profit...
UK - Matrix-backed British International bids for coast rescue contracts
Matrix Private Equity Partners portfolio company British International Ltd (BIL) is bidding for coastal search and rescue contracts which are being outsourced by the Ministry of Defence.
ITALY - Alto Partners' new fund closes its first deal
Alto Capital II, a fund closed recently on EUR 165m, has completed its first deal.