The year that was 2011: Mega-deals and key man clauses

John Bakie
20 December 2011

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The past year has been perhaps the most turbulent since the financial crisis hit. While there has been plenty of activity and a return of large deals, the Eurozone crisis has certainly had an impact.

Each day this week, unquote" takes a look at the highlights and lowlights of 2011.

April
-Cinven completes the secondary buyout of SLV group from HgCapital for more than €500m.
-Edouard Thomazeau and Thibaut de Chassey resign from their positions as partners at AtriA Capital Partenaires, triggering a key-man clause on the mid-cap firm's third fund.
-Barclays announced plans to sell off its £500m fund interests, with its private equity arm also set to spin out.
-Stirling Square Capital Partners sells Italian portfolio company Microtecnica 11x 2011 forecast EBITDA to Goodrich Corporation.

May
-Towerbrook sells fashionable shoe brand Jimmy Choo for £550m to a Japanese trade player. Creative director Tamara Mellon, attributed with the brand's success, left the firm later in the year.
-PAI makes two huge exits, divesting mortgage insurer CEP to JC Flowers for €850m, and selling SPIE to CDR for €2.1bn.
-Nordic Capital sells pharmaceutical company Nycomed for €9.6bn, one of the largest exits seen in Europe in recent years.
-EU finance ministers approve a €78bn bailout for Portugal

June
-Bain teams up with Hellman & Friedman to buy EQT's Securitas Direct in a SEK 21bn deal.
-Apax France reaps a 3.2x multiple and 32% IRR on the €382m trade sale of support services company Prosodie.
-Eurazeo invests €418m for a 45% stake in sportswear manufacturer Moncler in an all-equity deal with an enterprise value of €1.2bn.