News
UK - Veritas Capital acquires Pearson's Government Solutions
Government Solutions, a division of Pearson specialising in business process outsourcing, systems integration and consultancy services has been acquired by Veritas Capital for a reported $660m.
GERMANY – Largest IPO in Germany this year
The German flavours and fragrances company Symrise has floated today on the Frankfurt Stock Exchange at an issue price of EUR 17.25, making it the largest IPO in Germany this year. With a freefloat of around 70%, the IPO raised approximately EUR 1.4bn...
UK - Doughty Hanson leads EUR 315m cash injection for Sentanta
Doughty Hanson & Co has led a EUR 315m cash injection in the form of equity and preferred securities in Sentanta Sports Holdings Ltd. Goldman Sachs International, Davy Stockbrokers and Adams Street Partners have also invested in the deal. The new capital...
GERMANY – WL Ross & Co completes acquisition of BST Safety Textiles
WL Ross & Co has completed the acquisition of international manufacturer of flat and one piece woven fabrics for automotive air bags, BST Safety Textiles GmbH. The transaction was announced in September 2006.
DENMARK - Erhvervsinvest sells Roshield for EUR 34.7m
Erhvervsinvest has sold Odense-based Roshield to TenCate for EUR 34.7m. Roshield supplies products that are ready to be installed in vehicles.
UK - Lyceum Capital backs SPI Group Ltd
Lyceum Capital has invested in SPI Group Ltd, a building services company which provides installation, repairs, maintenance and support services to the social housing sector.
UK - ABN AMRO Capital sees 3x return on Dennis Eagle sale
ABN AMRO Capital has sold Dennis Eagle Group Ltd for an undisclosed sum to Ros Roca SA a Spanish-headquartered European leader in the refuse sector. ABN AMRO Capital’s investment in Dennis Eagle has generated a money multiple of 3x with an IRR of 50%.
BELGIUM - Inustri Kapital sells Consolis to LBO France
Industri Kapital has announced that the sale of Consolis, European market leader in prefabricated concrete, to LBO France. The transaction allows Industri Kapital and its co-investors to generate a money multiple just shy of three times and a triple digit...
SPAIN - Baring and Inova Capital buy stake in Sidsa
According to reports in the Spanish press, Inova Capital and Baring Private Equity Partners have purchased a minority stake in semiconductor manufacturer Sidsa.
ITALY - Capeq Partners and Natexis Cape exit Sial
Private equity firms Capeq Partners and Natexis Cape have announced the sale of their entire stake in dehumidifier manufacturer Sial to Swedish sector player Munters. It is understood that the deal is worth around EUR 19.4m.
ITALY - PM & Partners receives offers for AEB
PM & Partners, the advisers for Luxembourg-based vehicle Emerald, is understood to be evaluating offers for AEB, one of the fund's portfolio companies. Rumour has it that the counsel is looking to sell the company for no less than EUR 90-100m.
UK - Investcorp's Polestar in crisis
Polestar, the printing group formed by Investcorp's £700m buyout of two printing groups in 1998, is reported to be on the threshold of a financial restructuring.
UK - Permira closer to securing EMI deal
Market reports suggest that Permira is close to securing the estimated £2bn buyout of music giant EMI.
FRANCE - Eurazeo sells Eutelsat shares to CDC and confirms interest in Conforama
A few days after Abertis’ acquisition of Eutelsat’s new largest shareholding, Eurazeo announced it had sold its entire 25.5% shareholding to state-backed Caisse des Dépots et Consignations (CDC) for EUR 862.7m.
GERMANY – KKR exits its stake in Demag Cranes
Following the IPO of Demag Cranes six months ago, Kohlberg Kravis Roberts together with Siemens are selling their remaining 33.2% stake in the company. Goldman Sachs and Lehman Brothers are placing the shares in a range of EUR 33.00-33.50 with investors.
UK - 3i generates 100%+ IRR on exit from Domantis to GlaxoSmithKline
3i is to sell its stake in Domantis, a developer of next generation antibody therapies to GlaxoSmithKline in an all cash deal valuing the company at £230m. The exit is generating an IRR in excess of 100% on 3i's investment. Other investors in Domantis...
AUSTRIA – TTTech Computertechnik receives EUR 20m funding
Strategic financial investor firstVentury has invested EUR 20m in Vienna-based supplier of time-triggered systems TTTech Computertechnik AG. Additionally, international automotive company AUDI AG acquired a minority interest in TTTech.
DENMARK - CapMan exits ECO-DAN
CapMan funds have sold the activities in ECO-DAN A/S, a Danish provider of guidance systems used for precision farming, to a European manufacturer of agricultural equipment. The transaction is expected to close by the end of 2006.
GERMANY – Cinven pulls out of ProSiebenSat1 race
It is understood that Cinven, which had joined the Apax and Goldman Sachs consortium, has withdrawn from the auction for a 50.5% stake in German media group ProSiebenSat1. The remaining potential buyers are believed to include Turkish media giant Dogan...
UK - MidOcean Partners acquires Birmingham-based packaging company
MidOcean Partners, the group which recently realised its investment United Biscuits through a £1.6bn secondary buyout, has acquired Europackaging for a reported £190m.
FRANCE - Wendel boosts its investment team
Wendel Investissement has hired two additional investment professionals.
UK - Risk Capital Partners exits design and marketing company Loewy
Risk Capital Partners has made its fourth full exit in the past 15 months with the sale of its entire holding in the creative design and marketing services company Loewy. The Loewy disposal generated a 2.5x cash on cash return and an IRR of 41%.
FRANCE - Eurazeo grants CVC exclusivity to Fraikin
Eurazeo has granted CVC Capital Partners a period of exclusivity to truck rental company Fraikin following an offer which values the business at EUR 1.35bn.
NL - Liquavista attracts EUR 12m in series - A financing round
Amadeus Capital Partners and GIMV have led a EUR 12m series-A financing round in Liquavista BV, a fabless display manufacturing company based in Eindhoven. New Venture Partners, which led the spinout of Liquavista from Philips Research in April this year,...