Macquarie Infrastructure Fund II has increased its offer of EUR 44 to EUR 55 per share for the German utility billing specialist Techem AG. At the same time the financial investor increased its stake in the company by 8%, buying the additional shares at the revised offer and now holds 27.2% of the shares. Macquarie’s offer is EUR 3 higher than BC Partners’ EUR 52 offer from 22 November. BC Partners had been brought in as a white knight by Techem’s board to counter Macquarie’s hostile takeover bid.
Charcoal and natural additives company saw final bids from two banks and one direct lender
VCs including the Swiss Entrepreneurs Fund, BtoV and Ringier Digital Ventures also participated
Around 40 existing and new LPs, including British Patient Capital and the EIF, participated
Fund will invest in buyouts, recapitalisations and carve-outs of both profitable and underperforming businesses