• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deal search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
      • Deals search
      • Exits search
      • Funds search
      • Sponsors search
      • Advisers search
      • LPs search
      • League tables
      • Reports
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
UNQUOTE
  • Buyouts

The Deals Pipeline

  • Unquote team
  • 24 August 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

A fortnightly highlight of deal processes underway and involving PE, either on the buy- or sell-side, across Europe

UK

Carlyle and Palamon are preparing to sell their UK dental care portfolio company IDH Group, Mergermarket reported on 14 August. The sale of the company, which operates UK dentistry chain MyDentist and dentistry supplier DD, could kick off in Q4 2020. No sell-side adviser has yet been appointed. IDH's adjusted EBITDA increased by 6.9% to £62.1m for the financial year ending on 31 March 2020. The business could trade between 11x and 16x EBITDA multiples, based on past transactions. Among the sponsors interested in the business is BC Partners (a minority shareholder in Acuris, the publisher of Unquote). TDR could also be in the mix. Healthcare specialists such as Bupa and dental chain Portman Healthcare may also show interest in the asset.

Sweaty Betty, a UK-based retailer of exercise wear, is in preparation for an auction, Bloomberg reported on 20 August. Sweaty Betty, backed by L Catterton, could potentially fetch £400m.

Benelux

NPM Capital is preparing to launch the sale of Netherlands-based Bergman Clinics, Mergermarket reported on 14 August. The process is expected to start in September. In January, MergerMarket reported that NPM was being advised by JP Morgan and Axeco Corporate Finance on the exit, based on EBITDA of €60m-plus. Potential candidates to back a new buyout include Ares Management Corporation and BC Partners. Core Equity Holdings and TDR Capital are also tipped to move for Bergman. Carlyle-backed Schoen Klinik Verwaltung has decided against pursuing Bergman after examining a tie-up.

Ergon Capital Partners' sale of Dutch puzzle-magazine publisher Keesing Media Group is scheduled to launch in September, Mergermarket reported on 21 August. Ergon has mandated ING and DC Advisory for a strategic review of Ergon, with a refinancing among the options. Keesing generates more than €40m in EBITDA.

Southern Europe

A consortium made up of Advent and FSI has made the highest bid for a 10% stake in a TV and media rights newco being set up by Italian Football League (Serie A), Il Sole 24 Ore reported on 11 August. Other bidders are CVC and Bain Capital. General Atlantic could also join the bidding. At present, General Atlantic has only put forward a financing proposal. The bids have valued the newco at €13-15bn. In addition to offers for a minority stake, some PE firms have put forward financing proposals, including Apollo, Sixth Street and Blackstone via its GSO private debt arm. The financing packages carry interest rates of 8-12%.

Nordic

Hellman & Friedman is weighing options for its stake in Nets, which is expected to lead to a full sale of the Danish payment services group, Mergermarket reported on 20 August. The vendor has received direct approaches from suitors to sell its stake in Nets when it was channelling a bid for eBay's classifieds arm. Nets' other backers – GIC, Advent International and Bain – are also willing sellers. Nets generates EBITDA in the region of €300-500m. A deal could see the business fetch a valuation ranging from 15x to 20x EBITDA. Alongside financial sponsors, trade players FIS, Fiserv in the US and French payments giant Worldline could also see logic in exploring a bid for the business.

The sale of Finnish paper packaging company Kotkamills has kicked off, with teasers circulated among interested parties earlier this month, Mergermarket reported on 20 August. Vendor MB Funds will be marketing the company based on a €50m-plus EBITDA forecast for 2020. The figure, which the sell side expects to justify a price tag of around €500m, has drawn some scepticism from buy-siders pointing out that EBITDA was at around half of that at the end of 2019. The deadline for indicative bids could be as early as the beginning of October.

DACH

The owners of German publisher Springer Nature, BC Partners and Holtzbrinck, are eyeing up the autumn listing window, Mergermarket reported on 21 August. A final decision to proceed will depend on investor feedback over the next few weeks. The move to list the academic publisher will represent the third attempt from its owners after plans to file an intention to float were put on hold in March amid market turbulence following the outbreak of Covid-19. A listing was expected to value Springer Nature at €7-8bn including debt. Mergermarket previously reported that Springer Nature's owners could also look to pursue a sale process after gauging interest in the business from financial sponsors before Christmas. KKR, Warburg Pincus and CVC were among sponsors to have shown an interest at the time.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyouts
  • Exits
  • UK / Ireland
  • DACH
  • Nordics
  • Benelux
  • Southern Europe
  • Deals Pipeline

More on Buyouts

Permira to take Ergomed private for GBP 703m
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
Main Capital's Assessio to be sold to Pollen Street
Main Capital's Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023
TPG takes majority control of A-Gas, doubles down on impact investing
TPG takes majority control of A-Gas, doubles down on impact investing

KKR partially exits its 2017 investment in the specialty gas and chemical distributor, retaining a minority stake

  • Buyouts
  • 18 August 2023
Quadrivio to capitalise on baby boomers as it nears wrap for its new EUR 300m fund
Quadrivio to capitalise on baby boomers as it nears wrap for its new EUR 300m fund

The Silver Economy Fund makes its second investment as it highlights trend of GPs doubling down on narrow strategies

  • Buyouts
  • 16 August 2023

Latest News

Partners Group to release IMs for Civica sale in mid-September
  • Exits
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
BHM Group builds on PE strategy, eyes European medtech and renewable energy acquisitions
  • Investments
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Czech Republic-headquartered family office is targeting DACH and CEE region deals

  • 01 September 2023
Redalpine expands leadership team amid CHF 1bn-plus fundraise
  • Venture
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

  • 31 August 2023
Change Ventures aims to hold final close for EUR 20m third fund by mid-2024
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds

  • 31 August 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013