The saga of beleaguered waste management company Biffa was finally brought to an end last week with the agreement of a debt-for-equity swap. Such a classic tale of an over-leveraged private equity deal going sour is, as ever, popular with the papers, but how did things get so bad at Biffa?
Deal will enable the online booking platform to expand its operations team and prepare for a US launch
Acquirer is currently investing from its sixth flagship fund, which writes equity cheques of €100-300m
GP buys a 70% stake in insurance business Groupe Premium, investing alongside management
Company will use the fresh capital to support the launch of its new Atlas motorcycle helmet