News
UK - LDC backs buyout of PayStream
LDC has backed the MBO of PayStream, for an undisclosed sum. LCD has acquired a significant majority of shares in the accounting and payroll service provider.
UK - Red Diamond Capital set to acquire Avon Rubber's automotive business for £63m
The Financial Times reports today that Red Diamond Capital has arrived at a conditional agreement with Avon Rubber to purchase its automotive business. Red Diamond Capital will back management in a deal worth £63m.
SWEDEN - Indap announces no further increases to Gambro offer price
EQT’s and Investor’s Indap AB has clearified that it has made its final offer to shareholders in Gambro AB on May 15 when it increased the offer price from SEK 109.70 per A and B share to SEK 113.70. The offer price represents a premium of 35.7% relative...
UK - Bank of Ireland announces strong Q1 for corporate banking
Bank of Ireland Corporate Banking today announced the completion of deals in excess of £400m in the first quarter of 2006. Corporate Banking completed financing for companies in a diverse range of sectors including retail, support services and financial...
NETHERLANDS - Unconditional offer for VNU
VNU NV and Valcon Acquisition BV have announced that Valcon declares its public offer for VNU unconditional after 78.70% of VNU's share capital was tendered or committed during the acceptance period that ended Friday, 19 May.
UK - US-based Saints Capital buys technology portfolio for cash
The sale of the entire portfolio of unquoted investments and certain restricted quoted investments of Amerindo Internet Fund Plc (AIF) and Emerging Technology Portfolio (ETP) have been sold to funds managed by Saints Capital and Willowridge Inc for cash....
GERMANY - U3 Pharma raises EUR 27m in third round
The translational medicine-focused oncology company, U3 Pharma AG has raised EUR 27m in its third financing round, led by Life Sciences Partners (LSP) as well as existing investors. The funding will be used to accelerate the further development of antibody-based...
BELGIUM - Carlyle acquires 80% of Transics NV
The Carlyle Group has announced that it has acquired an 80% stake in Transics NV, together with the founders and co-chief executive officers, Walter Mastelinck and Ludwig Lemenu. The transaction signifies the third investment from its European technology...
GERMANY - VTC acquires Soudronic Automotive
Munich based investor VTC Industrieholding GmbH has announced the acquisition of the shares of Soudronic Automotive AG from Capvis and Gilde. Soudronic Automotive is based in Neftenbach, Switzerland and makes annual sales of approximately CHF 60m. It...
FRANCE - Franco-American placement agent wants to float on Euronext
Triago-X, the leading European placement agent which specialises in secondary transactions, has announced its intention to float on Euronext Paris.
UK - Amadeus Capital Partners wins ECF award
Amadeus Capital Partners, one of the UK’s top technology venture capital firms, has won Government backing to establish an Enterprise Capital Fund (ECF). The Government funding of £6.5m will be put to work alongside £3.5m from private investors and...
SPAIN - Permira set to acquire fast-food giant Telepizza
Permira is set to acquire Spain's biggest pizza delivery chain in a EUR 572m deal according to reports in the Independent on Sunday. Permira was favoured by the board of Telepizza, which will be de-listed from the Madrid stock exchange as a result of...
UK - Exponent Private Equity acquires Magicalia for £13m
Exponent Private Equity today announces the £13m acquisition of Magicalia, a leading UK online publishing group which was launched in 1999 by joint managing directors Adam Laird and Jeremy Tapp.
UK - CVM backs opening of 37 degrees healthclub
Close Venture Management (CVM) has announced the opening of 37 degrees healthclub at More London, the new 13 acre development next to Tower Bridge on the Thames.
UK - 3i sells stake in Tensar to US-based Tensar Corp
3i has sold its minority stake in Tensar, which provides innovative engineering solutions to a wide range of construction problems, to US-based Tensar Corp in a £68m deal.
UK - ECI to sell Kirker Holidays
ECI Partners is to sell the upmarket short break specialist it bought in 2003 for £15m, according to reports in today's Times. Kirker Holidays sells about 23,000 holidays a year and has a forecast turnover of £25m.
UK - Lion Capital expresses interest in Campbell soup brands
The Financial Times reports that Campbell soup has put its UK and Irish grocery brands up for sale at auction in order to allow itself to concentrate on overseas business. The auction has attracted strong interest from both trade buyers and private equity,...
UK - Sir Peter Vardy sets up new venture capital fund
The motor retailer, Sir Peter Vardy, has set up his own venture capital fund which will start operating this week with a £50m fund. Vardy Venture Capital will make investements of between £500,000 and £2m focusing primarily on his native north-east...
UK - Acquisition of Contour Showers Ltd by MST Capital
Contour Showers Ltd, the UK brand of specialist shower equipment for the elderly and special-needs markets, has been purchased by MST Capital, in conjunction with a new management team of managing director Tim Robinson and finance director David Whitehead.
FRANCE - JP Morgan leads massive EUR 25m expansion in Tagsys
JP Morgan Asset Management, Endeavour and Cazenove have invested EUR 27.5m in a second round of financing for Tagsys, following its MBO from Gemplus in 2001.
UK - Northern Venture Managers acquires clothing retailer Nightingales
Northern Venture Managers (NVM) has acquired Nightingales Ltd, a long-standing and well-established mail order clothing retailer, through a management buy-in. NVM have invested £5m in return for a significant stake in the business. The transaction was...
UK - Appointment of two new enterprise capital funds announced by Department of Trade and Industry
The Department of Trade and Industry has announced the appointment of a further two new Enterprise Capital Funds (ECF). These new Funds join the two ECF Funds announced at the time of the budget. This initiative is aimed at increasing the amount of new...
FRANCE - CVC Capital Partners makes two senior appointments
CVC Capital Partners has bolstered its Paris office with two senior recruits.
SWEDEN - Gartner names VC-backed PacketFront as 'Cool Vendor'
PacketFront has been included in the list of "Cool Vendors" in the "Cool Vendors in Carrier Network Infrastructure 2006" report by Peter Kjeldsen et al of Gartner Inc. The vendors highlighted in this report are 'pragmatic innovators'.