News
UK - No Hit to 3i on Chorion
It has been confirmed that Hit Entertainment has pulled out of moves to buy Chorion, the intellectual property group that owns Noddy and Mr Men.
UK - Cazenove to spin off private equity business
Cazenove is spinning off its private equity business, a fund with about ТЃ230m of assets, through a merger with Prelude Ventures, according to the FT.
SWITZERLAND - Partners Group lists on the main board of the SWX Swiss Exchange
Partners Group, the Swiss based global alternative asset manager, has announced the successful completion of the bookbuilding for its initial public offering. The price per registered share of Partners Group Holding has been set at CHF 63, in the upper...
SWEDEN - 3i and L Capital-backed Gant in EUR 241m IPO
Gant, backed by 3i and L Capital, has today announced the EUR 241m flotation on the Stockholm Stock Exchange. The IPO provides 3i and L Capital with partial exits at this stage generating EUR 44m and EUR 76m of proceeds respectively.
FRANCE - ABN AMRO Capital and Astorg acquire OFIC
ABN AMRO Capital France and Astorg Partners have acquired OFIC for an enterprise value of EUR 210m. The buyout houses have taken equal shareholdings in the company, alongside its management team headed by Jean-Louis Roques. The deal also involves members...
NORWAY - Telenor Venture sells OilCamp
OilCamp AS has been sold to the management team and Petroleum Networks Holding AS. Petroleum Networks Holding is owned by the private equity fund Energivekst, managed by HitecVision, and has been established as the fund’s investment platform within the...
CZECH REPUBLIC - Warburg Pincus exits LSE and Prague-listed Zentiva
Warburg Pincus has exited its stake in generic pharmaceutical supplier Zentiva N.V. Globally-active pharmaceutical developer Sanofi-Aventis has acquired a 24.876% stake in the company consisting of the 19.634% stake held by Warburg Pincus, a 4.507% stake...
FRANCE - AXA PE acquires Skyrock
AXA Private Equity has just signed an acquisition agreement for an 80% stake in Skyrock Group. It has been signed in association with Pierre Bellanger, CEO of Group Skyrock and Tamago, the company held by Morgan Grenfell Private Equity and Goldman Sachs....
FRANCE – Cinven set for UPC France mega-deal
Cinven has signed a letter of agreement with US-based cable operator Liberty Global to purchase UPC France for EUR 1.25bn. The deal is still in its very early stage, but Cinven is expected to pay a full 11.4 times UPC France’s 2005 operating cashflow,...
FRANCE - IK recapitalises CEVA Santé Animale
Industri Kapital has completed a EUR 208m recapitalisation of CEVA Santé Animale, the international French based animal health care company. This is IK’s second recapitalisation in a week and follows the EUR 65m recapitalisation of Myresjöhus.
UK - Kirkland & Ellis makes two private equity appointments
Kirkland & Ellis International LLP has announced the appointment of two partners from Linklaters' private equity team.
UK - Close Brothers Growth Capital backs £9m MBO of Allen & Heath
Close Brothers Growth Capital Ltd (CBGC)has backed the ТЃ9m secondary buyout of Allen & Heath, a designer of professional sound mixing equipment. The move represents a successful exit for 3i, which backed the original MBO in 2001.
UK - Empower Interactive secures $18m private equity funding
Empower Interactive has secured $18m in a new round of funding headed by Scottish Equity Partners (SEP) and existing investors Argo Global Capital, Cazenove Private Equity, DN Capital and IDG Ventures Europe.
UK - 3i invests £21m in MKM Building Supplies
3i has invested a further ТЃ21m into MKM Building Supplies (MKM), the fifth largest independent buildersт merchant in the UK. The existing management of David Kilburn and Bill Acton retains an interest in the business and is investing alongside 3i.
UK - Consortium hasn't given up on ITV
The private equity consortium stalking ITV is to propose a cash sweetener in a second and final approach to the commercial broadcaster, according to press reports.
UK - Thames Valley Investment Network celebrates third year
Thames Valley Investment Network (TVIN), a business angel network that matches investors in Reading and surrounding areas with entrepreneurs seeking funding to grow their companies, is celebrating three years of successful operations.
UK - Permira considering Travelodge IPO
Weekend press reports suggest that Permira has held talks with three financial advisors about a possible flotation of Travelodge.
UK - Oxford Capital Partners and Noble Fund Managers invest £1.25m in TXT4
Oxford Capital Partners and Noble Fund Managers have announced their investment in London-based TXT4 Ltd, a pioneer and leader in the provision of mobile response technology to advertisers. Oxford Capital Partners, acting as lead investor, and Noble Fund...
GERMANY - Pöllath + Partners advises Sports Group management on takeover
Benedikt Hohaus of Pöllath + Partners, Munich, acted as legal counsel to the company management on Industri Kapital's acquisition of Sports Group from ECM Equity Capital Management.
FRANCE - 3i sells interest in Groupe Vendôme to Johnson & Johnson
3i has entered into an agreement to sell its interest in Groupe Vendôme to Johnson & Johnson Consumer France SAS for an undisclosed sum. This acquisition is subject to regulatory approval and is expected to be completed in the second quarter of 2006....
NORWAY - Ferd strengthens its investment team
Ferd Equity Parnters has recruited three new investment professionals.
UK - August Equity sells Durrants to Exponent for £82m
August Equity, previously know as Kleinwort Capital, has agreed the sale of one its portfolio companies, Discovery Group Ltd, which trades as Durrants Media Monitoring, to Exponent Private Equity in a ТЃ82m deal.
UK - Sloan moves from Maclay Murray & Spens to Latham & Watkins
Latham & Watkins has appointed Maclay Murray & Spens private equity partner Graeme Sloan.
SWITZERLAND - Partners Group lists on SWX above book-building price
Switzerland-based fund-of-funds Partners Group has listed on the SWX Swiss Stock Exchange at an opening price of SFr 79.95 well above the offer price of SFr 63. The price per registered share of the Partners Group Holding was set at EUR 63, in the upper...