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Industri Kapital buys 75 per cent of Norwegian retailer Kid Interior
30/06/2005. European buy-out firm Industri Kapital has bought a 75 per cent stake in Norwegian home furnishing retailer Kid Interior, leaving the family owners with the remaining holding. The firm had a turnover of €90m in 2004 and has grown by an annual average of 27 per cent since 1998. 
Advent International buys Italian vending machine firm Gruppo Argenta
30/06/2005. Advent International has bought Italian vending machine firm Gruppo Argenta from two local private equity firms. Advent will hold a 65 per cent stake, Italian private equity firm PM&Partners will hold a minority stake and the management will also retain an interest.
Texas Pacific names Vivek Paul as partner to focus on technology and life sciences
30/06/2005. Texas Pacific Group has named Vivek Paul, the vice chairman of Wipro, as a partner in its venture arm to focus on technology and life sciences investments.
CVC appoints Jonathan Feuer and Robert Lucas as managing partners
29/06/2005. Pan-European buy-out firm CVC Capital Partners has promoted Joanthan Feuer and Robert Lucas to managing partners from their present positions as partners. Their elevation takes the number of managing partners at the firm to 11.
Survey reveals 43 per cent of LPs denied access to all the funds they want
29/06/2005. The depth of growing concern about fund access has been evidenced by a new survey showing that some 43 per cent of limited partners have not been able to get into all the funds they wanted over the last 12 months.
3i strengthens Asian presence with new hirings
28/06/2005. Listed private equity firm 3i has strengthened its presence in Asia with four new hirings and the transfer of a London executive to the region.
Charterhouse buys UK Barracuda pub group from PPM Capital
28/06/2005. Pan-European private equity firm Charterhouse has bought UK pub chain Barracuda Group for £262m from PPM Capital, the private equity arm of UK insurer Prudential. The sale has earned PPM a return of around three times its investment.
Secondaries specialist Headway closes debut fund with commitments of €52m
27/06/2005. Headway Capital Partners, the private equity secondaries specialist set up by former Coller Capital executives, has announced the closing of its debut fund with commitments of €52m.
US Summit Partners closes $3bn PE fund and $300m VC fund
27/06/2005. Boston-based Summit Partners has closed two new funds, a $3bn private equity fund and a $300m venture capital fund. The funds will invest in late stage businesses across a range of sectors, predominantly in North America but with an increasing emphasis on Europe.
Permira appoints banking specialist Sir Mervyn Pedelty as senior adviser
27/06/2005. Pan-European buy-out firm Permira has announced the appointment of Sir Mervyn Pedelty as a senior adviser. Pedelty, a former chief executive of the Co-operative Bank, will work with Permira on identifying and evaluating opportunities in the financial services sector across Europe.
Macquarie beats Exponent and Apax to buy BBC Broadcast for £166m
27/06/2005. An Australian consortium headed by Macquarie Bank has beaten stiff private equity competition to buy BBC Broadcast for £166m. The shortlist for the BBC's digital media distributor also featured Apax and new UK buy-out group Exponent.
PPM Capital pays €320m for German truck components firm Jost
27/06/2005. Pan-European buy-out firm PPM Capital has agreed to buy Jost Group, a Germany-based manufacturer of components for commercial vehicles, from its present owners Alpha Investors for €320m. PPM plans to assist the business with further internationalisation of its activities.
Carlyle appoints Rajeev Gupta as managing director and head of India buy-out group
24/06/2005. US private equity giant The Carlyle Group has established a buy-out team in India with Rajeev Gupta as managing director and head of India buy-out group. Gupta is the former managing director and head of investment banking of DSP Merrill Lynch.
PAI wins auction for CVC's Kwik-Fit with £800m bid
24/06/2005. France-based buy-out group PAI Partners has won the ferocious auction for CVC's automotive services business Kwik-Fit Group with a bid of £800m. The sale process had attracted interest not just from other private equity firms but also trade buyers such as tyre manufacturer Bridgestone.
Survey says US VCs to expand global investments; China and India top targets
23/06/2005. US-based venture capitalists expect to expand their global investment activity, especially in China and India, the Deloitte and NVCA 2005 Global Venture Capital Survey shows. A total of 20 per cent of respondents said they planned to increase their global investment activity over the next five years, compared with 11 per cent that are currently investing abroad.
3i appoints Permira's Robert van Goethem to focus on buy-outs in Benelux
23/06/2005. 3i has appointed Robert van Goethem, a Belgian national, as director within its European buy-out business. He will join the Benelux office, where he will focus on buy-outs in the Benelux markets with a particular emphasis on Belgium.
US Granite Global Ventures hires Lee Kheng Nam, Jenny Lee, Stephen Hyndman
23/06/2005. Expansion stage venture firm Granite Global Ventures has added Lee Kheng Nam, Jenny Lee and Stephen Hyndman to its team. The expansion of the team follows the firm's recent announcement that it closed its $225m Granite Global Ventures II fund.
Apax France buys Air Liquide's 39.5 per cent stake in Séchilienne-Sidec for €162.3m
22/06/2005. Apax Partners France has agreed to buy a 39.5 per cent stake in listed French energy business Séchilienne-Sidec from Air Liquide for €162.3m. The private equity firm is buying 541,110 shares at a price of €300 per share.
Blackstone and Bain back Chinese firm Haier in $1.28bn Maytag bid
22/06/2005. A consortium led by Chinese appliance maker Haier and including US private equity giants The Blackstone Group and Bain Capital are making a $1.28bn offer for US home and commercial appliances producer Maytag. The bid tops an offer made previously by private equity group Ripplewood.
Pomona Capital closes fourth primary fund of funds above target on $250m
21/06/2005. New York and London-based private equity investment firm Pomona Capital has closed its fourth primary fund of funds, Pomona Partnership Holdings IV, above its original $200m target on $250m. Pomona Partnership Holdings IV will target primary and special secondary interests in private equity funds.
US Fifth Street Capital hires Robert S Kiesel as principal/portfolio manager
21/06/2005. New York-based Fifth Street Capital has hired Robert S Kiesel as principal/portfolio manager. Kiesel will join the investment team in sourcing, analysing and managing mezzanine investments.
European mid-market private equity investor HgCapital sells Trados for $60m to SDL
21/06/2005. European mid-market private equity investor HgCapital has sold Trados Incorporated, a specialist in globalisation software to the translator and corporate enterprise market, to SDL, a provider of translation services and technology solutions. HgCapital invested in Trados in 2000 and the sale of the company will realise $18.8m for clients, HgCapital announced in a statement.
General Atlantic invests DKK728m in Copenhagen-based Saxo Bank
21/06/2005. International private equity group General Atlantic has invested DKK728m (about $127m) in Copenhagen, Denmark-based Saxo Bank, an investment bank specialising in online investments in the international capital markets.
3i invests £150m in I2 Infrastructure Investors Fund
21/06/2005. 3i has invested £150m in I2 Infrastructure Investors Fund, a joint venture fund initially established by Barclays Private Equity and SG Corporate & Investment Banking. Following 3i's investment, the fund has now reached £450m, making it the largest equity fund within the secondary PFI market.
Pension funds invested $17bn in private equity in 2004
21/06/2005. Pension funds globally invested over $62bn in the alternative asset class during 2004, including $17bn in private equity, according to a survey by Watson Wyatt in partnership with Global Investor magazine.
Sir David Cooksey takes over from Herman Daems as EVCA chairman
20/06/2005. Sir David Cooksey, chairman of London-based venture capital firm Advent Venture Partners, has been elected as chairman of the Brussels-based European Private Equity and Venture Capital Association for the period until June 2006. Sir David was the first chairman of the British Venture Capital Association in 1983/1984. He succeeds Herman Daems, chairman of the Benelux-based private equity investment firm GIMV NV/SA, who held the position of EVCA chairman from June 2004.
Pan-European venture capital firm DN Capital makes two hirings
20/06/2005. Pan-European venture capital firm DN Capital has appointed Cedric Sellin and Andy Choi to its Investment Team. Both have extensive technical knowledge and operational experience at tier-one venture-backed Silicon Valley high tech companies.
Investment levels in 2004 exceeded fundraising amounts
20/06/2005. The gap between investments and fundraising widened in 2004, increasing to almost €10bn in favour of investments, the 2004 European Private Equity Survey, conducted on behalf of the EVCA by Thomson Venture Economics and PricewaterhouseCoopers, shows. In 2004 a total of €36.9bn were invested, while only €27.5bn were raised.
Graphite generates 10x return on sale of UK noodle chain Wagamama to Lion Capital
17/06/2005. UK buy-out firm Graphite Capital has sold its majority stake in noodle bar chain Wagamama to pan-European private equity consumer sector specialist Lion Capital in a deal valuing the business at £102.5m. Together with a refinancing last year, Graphite has now made a 10.2 times return and an IRR of 40 per cent on the investment
Sun Capital buys UK-based jeans manufacturer Lee Cooper
17/06/2005. US private equity firm Sun Capital Partners has bought UK-based jeans brand Lee Cooper in a deal valued at a reported €45m. The transaction is Sun Capital's third in Europe over the last 18 months.
F&C enters private equity fund of funds market with acquisition of Martin Currie
17/06/2005. F&C Asset Management is expanding its activities in private equity fund of funds with the acquisition of Martin Currie Investment Management's private equity funds business. The two firms will merge their existing listed private equity fund vehicles into an enlarged trust that will be renamed F&C Private Equity Trust.
CVC buys Ruhrgas Industries from E.ON for around €1.5bn
16/06/2005. Pan-European buy-out firm CVC Capital Partners has bought energy metering business Ruhrgas Industries from German utility firm E.ON for €1.5bn, including debt and pension liabilities.
Duke Street names Yell chairman Bob Scott as operating partner
16/06/2005. UK-based buy-out firm Duke Street Capital has added Yell chairman Bob Scott to its roster of operating partners. He will assist with deal origination, investee company management and development of strategy.
Former GE Capital MD David Spencer sets up new Asian fund of funds Emerald Hill
16/06/2005. David Spencer, formerly a managing director with GE Capital, is setting up a new private equity fund of funds focusing exclusively on Asia. Emerald Hill Capital Partners will aim to capitalise on the rapidly growing institutional interest in the region following a jump in exit activity over the past 18 months.
Life Sciences Partners III holds first close on €65m
16/06/2005. European biotech specialist Life Sciences Partners has held a first close on its third fund with commitments of €65m. The fund will focus on investments in Benelux and Germany.
US software specialist JMI Equity closes fifth fund with $300m of commitments
16/06/2005. JMI Equity, a US private equity firm specialising in software and business services, has closed its fifth fund with commitments of $300m.
UK buy-out firm Inflexion appoints Jamieson as portfolio director
15/06/2005. Inflexion has appointed Iain Jamieson as portfolio director. He will focus on performance data, enhancing shareholder value, exit planning and execution.
3i sells 25 per cent stake in UK Newell & Budge to Sopra Group
15/06/2005. European private equity and venture capital company 3i has sold its 25 per cent stake in Newell & Budge, a UK IT consultancy and services companies, to IT solution providers Sopra Group. The deal has generated a 3.5 times return for 3i.
The Blackstone Group in $3.24bn Wyndham International deal
15/06/2005. The Blackstone Group has acquired upscale and luxury hotel and resort accommodations specialist Wyndham International for approximately $3.24bn. The private equity giant will acquire all of the outstanding common stock of Wyndham for $1.15 per share in cash.
Advent and Providence sell MACH to Warburg Pincus for reported €600m
14/06/2005. Advent International and Providence Equity have agreed to sell Luxembourg and Denmark-headquartered MACH, a provider of inter-operator solutions within the telecommunications and data industry, to Warburg Pincus for a reported sum of around €600m.
HgCapital sells Tunstall to Bridgepoint for £225m
14/06/2005. HgCapital has sold European telecare systems provider Tunstall Holdings to Bridgepoint for £225m, earning itself nearly three times its initial investment. Bridgepoint plans to combine Tunstall with the telecare division of the Nordic operator of elderly care homes and services Attendo Group, which Bridgepoint acquired in February 2005.
Intel establishes $200m China venture fund
14/06/2005. Intel Corporation has established a $200m venture capital fund, Intel Capital China Technology Fund, to invest in Chinese technology companies developing innovative hardware, software and services.
UK mid-market specialist Close Brothers Private Equity acquires Luminar's Enterprise division
14/06/2005. UK mid-market specialist Close Brothers Private Equity has announced the management buy-out of Luminar's Enterprise division comprising 49 nightclubs and high street bars in a transaction valued at £28m. The new business will be renamed CanDu Entertainment Group.
UK ECI acquires Taylor Continental Holdings
13/06/2005. UK mid-market buy-out specialist ECI Partners has acquired Kidderminster, UK-based Taylor Continental Holdings, a manufacturer and supplier of trade waste containers, for an undisclosed amount. ECI is backing a new management team.
Segulah acquires Nordic Hexagon Automation for SEK1.153bn from Hexagon
13/06/2005. Nordic buy-out firm Segulah has acquired Hexagon Automation, a specialist in hydraulics and industrial automation, from its eponymous parent - Hexagon - for a reported SEK1.153bn (€124m). Hexagon Automation conducts its business through 22 subsidiaries in Sweden, Finland, Denmark, Norway, Russia, the Baltic region and China.
Dutch NeSBIC CTe Fund II realises home run exit on Oxxio
13/06/2005. Dutch technology venture fund NeSBIC CTe Fund II has sold its participation in the technology-based energy service provider Oxxio to Centrica from the UK. Prior to the transaction NeSBIC CTe Fund II was the largest investor in Oxxio.
African VC body calls on G8, EU to support promotion of private equity in region
10/06/2005. The African Venture Capital Association has called on the G8 and EU countries to swing behind the promotion of private equity activity in the region as a means of increasing the role of the private sector in economic and social development. In particular, AVCA has asked governments to finance an African private equity fund of funds and to introduce tax relief for investors who back private equity funds in the region.
Nordic group Reiten to sell EuroProcessing International ASA for €100m
10/06/2005. Nordic mid-market private equity investor Reiten & Co together with management (Creati AS) have agreed to sell Norwegian financial services company EuroProcessing International ASA to First Data Corporation for €100m. EPI specialises in the processing of financial transactions in Central and Eastern Europe.
Michael Eisenberg joins Benchmark Capital in Israel as general partner
10/06/2005. Michael Eisenberg has joined early-stage venture capital firm Benchmark Capital as a general partner in Israel to help the firm invest its $250m second Israeli fund, Benchmark Israel II.
Private equity consortium buys two divisions from South Africa's Delta Electrical
10/06/2005. A private equity consortium has agreed to acquire both Delta Electrical Industries' Repairs and Services, and the company's Replacement Parts divisions, as going concerns, for ZAR1, 296bn (£106m). The consortium comprises Ethos Private Equity, Actis, Old Mutual and Black Economic Empowerment partners, Aka Capital and Sphere Holdings.
Greenhill Capital Partners II closes on $875m
09/06/2005. Greenhill & Co. has completed the second and final closing of its second private equity fund, Greenhill Capital Partners II, with total committed capital of $875m.
Investment director Mark Kerr joins 3i's oil and gas team
09/06/2005. 3i's investment director Mark Kerr has joined the firm's Aberdeen-based oil and gas team from the firm's Glasgow office. Kerr, a qualified actuary, started his 3i career in 1996 in Aberdeen and subsequently worked in both the Cambridge and Edinburgh offices.
US Charlesbank Capital Partners closes its sixth buy-out fund at $900m
09/06/2005. Charlesbank Capital Partners has held a final closing on $900m for Charlesbank Equity Fund VI, which began marketing in February and was heavily oversubscribed, according to the firm.
Industri Kapital acquires interior decoration group SIA from 3i
09/06/2005. Industri Kapital has signed an agreement with 3i and the management team to acquire home decoration specialist The SIA Group. 3i led the MBO of France-headquartered SIA in December 2001.
UK mid-market specialist Sovereign Capital expands with two hirings
08/06/2005. Kevin Whittle has joined UK lower mid-market private equity provider Sovereign Capital as director of portfolio services and Paul Egan has joined as investment manager.
ABN AMRO Capital acquires Fortex from Industri Kapital
08/06/2005. ABN AMRO Capital has agreed to acquire a majority stake in Dutch textile services company Fortex from Industri Kapital and Fortex management. The business is expected to be merged with Netherlands-based textiles services company Clean Lease Randstad, which ABN AMRO Capital acquired in June 2004.
3i exits telecoms provider dtms, agrees to sell its stake in Cannon Avent
08/06/2005. 3i has sold telecoms provider dtms (Deutsche Telefon and Marketing Services AG) to D+S europe AG. Financial details of the transaction have not been disclosed but 3i said in a statement that it had sold the company 'for a mid double digit million figure'.
Advent International to acquire Boart Longyear from Anglo American for $545m
08/06/2005. Mid-market buy-out firm Advent International has agreed to acquire Boart Longyear, a provider of drilling services and equipment, from Anglo American. The enterprise value of the transaction is $545m. The investment is the first to be made from Advent's latest €2.5bn global buy-out fund, which closed in April.
Innova Capital acquires EBCC Poland S.A.
08/06/2005. Innova Capital has acquired 100 per cent of shares in Wroclaw, Poland-based European Brakes and Chassis Components Poland S.A., a supplier of aluminum brake components to the automotive industry in one of the first leveraged buy-outs in Poland. EBCC was divested by Valfond Groupe, a French industrial player.
Crestview and MidOcean to acquire Puerto Rico cable operations for $520m
07/06/2005. Private equity groups MidOcean and Crestview have joined forces to buy a Puerto Rican cable business from troubled firm Adelphia Communications for $520m. The deal is Crestview's first since being set up by former Goldman Sachs bankers Tom Murphy and Barry Volpert.
Vestar Capital recruits Kenneth O'Keefe as a senior adviser to support media activity
07/06/2005. US private equity firm Vestar Capital Partners has recruited Kenneth O'Keefe as a senior adviser to support its media activities. O'Keefe was formerly the president and chief operating officer of Clear Channel Communication's radio division.
Carlyle's Avio acquires aeronautical operations of Dutch Philips Aerospace
07/06/2005. Carlyle's portfolio company The Avio Group, the former aerospace division of Fiat, has acquired an 80 per cent share of the aeronautical operations of Eindhoven, Netherlands-based Philips Aerospace from Royal Philips Electronics.
Montagu Private Equity sells UK Marlow Foods to Premier Foods
06/06/2005. Montagu Private Equity, the UK-based pan-European buy-out firm, has agreed to sell Stokesley, North Yorkshire-based food manufacturer Marlow Foods to Premier Foods, the former Hicks Muse-backed (now Lion Capital) firm for £172m.
Candover finances UK research firm Wood Mackenzie's growth plans
06/06/2005. Candover has signed an agreement with Edinburgh, Scotland-headquartered Wood Mackenzie, a provider of research and consulting services, to finance the company's next stage of growth. Wood Mackenzie is looking to extend its portfolio of products through organic investment and strategic add-on acquisitions, and to further develop its international presence.
BC Partners appoints Nikos Stathopoulos and Giampiero Mazza to its London team
06/06/2005. Pan-European buy-out firm BC Partners has appointed Nikos Stathopoulos and Giampiero Mazza to its London team. Stathopoulos joins from Apax and Mazza from Englefield.
HgCapital to acquire German Addison Software in €78m management buy-out
03/06/2005. European mid-market private equity investor HgCapital has signed an agreement to acquire Addison Software and Service in a €78m management buy-out. The acquisition is expected to close later this month.
Jeffrey Stein becomes life science venture partner at US firm Sofinnova Ventures
03/06/2005. San Francisco-based Sofinnova Ventures has appointed Jeffrey Stein as a life science venture partner in San Diego to help identify San Diego-based investment opportunities in the biopharmaceutical clinical development sector and advise the firm's life science portfolio companies on clinical and business matters.
Dutch buy-out fund Egeria II holds third close on €358m
02/06/2005. Amsterdam-based buy-out fund Egeria Private Equity Fund II has held a third closing on €358m, on course for its target of between €375m and €400m. Among the Dutch institutional investors in the fund, which is expected to have a fourth and final closing at the end of this month, are Ahold Pensioenfonds and Van Lanschot Bankiers.
3i backs management buy-out of Fairline Boats, launches OmPrompt
02/06/2005. European private equity firm 3i has backed a management buy-out of UK-based leisure powerboats manufacturer Fairline Boats from The Renwick Group for a consideration of £40m.
Apax and Permira to float UK's Inmarsat
02/06/2005. Inmarsat, owned by Apax Partners and Permira, intends to proceed with an IPO of shares and seeks a full listing on the main market of the London Stock Exchange. Announcement of pricing, allocations and commencement of conditional dealings are expected to occur on or around 17 June, the company said in a statement.
Fonta, Graca, Demesse and Verges join Edmond de Rothschild Capital Partners
02/06/2005. Hervé Fonta and Antonio Graça have joined Edmond de Rothschild Capital Partners as investment managers and Bertrand Demesse as associate, while Sylvie Verges joined as chief financial officer.
US private equity group Bain Capital buys Wisconsin-based School Specialty for $1.5bn
01/06/2005. Boston-headquartered Bain Capital Partners has agreed to acquire School Specialty, an education company providing supplemental learning products to the preK-12 market, for approximately $1.5bn.
Mason Wells sells US Sturm Foods to Hicks, Muse, Tate & Furst
01/06/2005. Milwaukee-based Mason Wells has sold Sturm Foods to Dallas-based Hicks, Muse, Tate & Furst. Financial details of the deal have not been disclosed. Mason Wells acquired a majority ownership position in Sturm in March 1999.
UK mid-market buy-out firm ISIS Equity Partners spins out of F&C Asset Management
01/06/2005. ISIS Equity Partners, the UK lower mid-market buy-out firm, has effectively spun out of its parent F&C Asset Management with the conclusion of an arrangement to create a new limited partnership that will manage all F&C's private equity assets.
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