News
UK - Taylor Wessing enhances team
Taylor Wessing's corporate team is expanding with the arrival of corporate partner, Tom Cartwright from Hammonds. Cartwright specialises in mergers and acquisitions, private equity and new issues work, and has particular sector expertise in financial...
FRANCE - Innoven injects EUR 3m in NavX
Innoven Partenaires has invested EUR 3m in NavX, a website offering services to satellite navigation device users.
FRANCE - Online news website Wikio gathers EUR 4m
US-based Lightspeed Venture Partners and Israeli venture investor Gemini have committed EUR 4m in the first round of institutional funding in French news website Wikio.
FRANCE - Siparex and Carvest back home builder Batilor
Sigefi Private Equity (group Siparex) and Carvest have backed the owner buyout of home builder Batilor. The sponsors invested EUR 4.4m and EUR 0.6m in equity, respectively.
FRANCE - ACE Management leads Recaero's series-B funding
In this round ACE Management, IRDI/ICSO Private Equity and Multicroissance have invested a total of EUR 5m in Toulouse-based Recaero, a former spin-off from Aérospatiale.
UK - Grant Thornton appoints David Grundy as head of transaction services
Grant Thornton has appointed David Grundy to head of transaction services. Grundy has been a partner at Grant Thornton since 2000 and has led the northern transaction services team within the firm's corporate finance group for the past seven years.
UK - LDC appoints Truett Tate as its new chairman
Truett Tate, group executive director of Lloyds TSB’s Wholesale & International Banking division, has been appointed chairman of LDC. Tate succeeds Michael Joseph, who left the bank earlier this year to pursue other interests.
ITALY - Last call for Alitalia offers
The deadline for submission of offers for Alitalia is today.
GERMANY - Baird Capital sells Hahl
Baird Capital Partners Europe has announced the sale of Munderkingen-based Hal to Lenzing Plastics GmbH for an undisclosed amount. The financial investor had acquired Hahl in a management buyout in April 2003 from its US-based parent company.
GERMANY - Baird Capital acquires Zarges Tubesca
Baird Capital Partners Europe has acquired the Zarges Tubesca Group from funds advised by Taros Capital for a total consideration of EUR 156m. Baird intends to grow the company, together with the incumbent management team, organically and through further...
FRANCE - Iwedia raises additional EUR 4m
Software developer Iwedia has raised an additional EUR 4m in its fourth round of funding from its historical investors. CDC Entrprises Innovation, the company’s largest shareholder, was accompanied by I-Source Gestion, iXCore and Thales Corporate Venture....
UK - Imperial Innovations participates in £6m funding round for Circassia
Imperial Innovations Group has invested £2m in immunotherapy company Circassia Holdings Ltd to develop its allergy vaccine further. The investment in Circassia, is part of a £6m funding round that included Landsdowne Partners and Tudor Capital and is...
UK - Sovereign Capital expands team
Sovereign Capital has expanded its investment team with the appointment of George Williams as investment manager. This brings Sovereign’s investment professionals to 18.
GERMANY - Second profit warning at Deutsche Telekom
Deutsche Telekom AG, in which the Blackstone Group holds a 4.5% stake, has issued a second profit warning in six months. The company is blaming fierce competition in Germany and the weak US dollar for a cut of up to EUR 1.2bn from 2007 forecasts. Europe's...
NORWAY - Hydro invests NOK 22m in database technology company
Hydro has invested NOK 22m in Tektonisk and its ShareCat database technology. ShareCat is used by a number of international oil and gas producers to share information between suppliers and subcontractors on the type of equipment used in connection with...
FINLAND - Industri Kapital buys Moventas from CapMan
Industri Kapital has agreed to buy a majority stake in manufacturer of industrial and wind turbine gears Moventas from CapMan for an undisclosed sum.
GERMANY - New appointment at German Capital's ALNO
German Capital owned kitchen manufacturer ALNO AG has appointed Hans-Peter Haase as new chairman of the supervisory board. He succeeds Dr Walter Döring, who resigned after more than two years.
UK - Countrywide shareholders reject 3i bid
3i's £971m bid for Countrywide has failed to gain the 75% of shareholder votes that it needed to be successful.
EUROPE - Advent International announces global promotions
Advent International has announced the promotion of 13 members of its global investment team.
SWEDEN - Apax sells Mölnlycke to Investor and Morgan Stanley for EUR 2.85bn
Funds advised by Apax Partners has sold surgical and wound care applications provider Mölnlycke Health Care Group (MHCG) to Investor AB and Morgan Stanley Principal Investment (MSPI) for EUR 2,850m.
UK - Grant Thornton appoints Simon Davies as partner
Grant Thornton has appointed Simon Davies as a partner in the firm's corporate finance practice taking place with immediate effect. The appointment comes on the back of a record year in 2006, during which the firm advised on 166 corporate finance transactions...
ITALY - Private equity courts Tiscali
Market sources suggest that a number of private equity firms, including BC Partners, Permira, Apax, CVC and Investitori Associati, have shown interest in Tiscali.
GERMANY - Lindsay reduces stake in Klöckner
Following the IPO of Klöckner & Co AG in June 2006, US private equity investor Lindsay Goldberg & Bessemer has sold a further 29% stake in the German steel trader. 13.8 million shares were sold at EUR 33 each, valuing the transaction at EUR 455m. Deutsche...
GERMANY - Fresh funding for Sulfurcell
Sulfurcell Solartechnik GmbH has completed its latest financing round. The funding will be used for product development as well as expansion of the company’s production capacity. New investor Masdar Clean Tech Fund LP, managed by Credit Suisse, New...