Bregal named as mystery suitor for IFG

Kimberly Romaine
04 May 2011

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The firm eyeing up IFG Group plc is said to be Bregal Capital, according to a source close to the deal.

IFG this morning issued a statement confirming that it had received an approach which may lead to a takeover. The financial services business' market capitalisation stands at €219.14m, with shares up 21% to a three-year high of 160p per share.

Bregal typically invests between €30m and €150m per deal in businesses with an enterprise value of more than €75m.

IFG reported a turnover in 2010 of €120m, up 29% from 2009.

Bregal was not available for immediate comment, while IFG would not comment beyond the statement released this morning.

IFG was founded in 1989 through its then subsidiaries IFG Securities Limited and IFG Finance Limited. It listed on the Irish Stock Exchange in 1996 as a primary listing and on the UK Listing Authority in 2000 as a secondary listing. It recently acquired James Hay Group from Santander in March 2010.

Bregal is a private equity firm with fund commitments since inception of more than €3bn. Bregal is currently investing from its latest €1bn fund and targets mid-market investments in buyout and development capital.