|
US private equity firms KKR and Bain complete $1.3bn acquisition of Accellent
23/11/2005. US buy-out firms Kohlberg Kravis Roberts & Co. and Bain Capital have completed their acquisition of Accellent through a transaction valued at $1.27bn. In a previous announcement, only KKR was mentioned as a buyer. 
US Fenway to acquire mobile computing cases specialist Targus for $382.5m
30/09/2005. New York and Los Angeles-based middle-market private equity firm Fenway Partners has agreed to acquire computing cases and accessories specialist Targus Group International from Apax Partners for $382.5m.
3i invests in Hayley, exits Interhyp, looks likely to loose money on Allsports investment
30/09/2005. European private equity and venture capital firm 3i has acquired a minority stake in Milton Keynes, UK-headquartered Hayley Conference Centres for £41m. The investment capitalises the business at over £180m, replacing the current institutional shareholder, Legal and General Ventures.
Berkshire Partners and Weston Presidio to acquire Party City Corporation
29/09/2005. Berkshire Partners and Weston Presidio, through their holding company AAH Holdings Corporation, have agreed to acquire US party goods chain Party City Corporation in a public-to-private transaction for $360m. Party City shareholders will receive $17.50 per share.
Norway's Reiten & Co exits Heimstaden
28/09/2005. Norwegian mid-market private equity investor Reiten & Co has agreed to sell Sweden's Heimstaden to Fredensborg Eiendomsselskap for SEK1.9bn (approximately €203m).
Tenaska Power Fund closes on $838m
28/09/2005. Tenaska Capital Management, a Tenaska Energy affiliate, has closed the Tenaska Power Fund on $838m, above its original $750m target. The fund will acquire energy and power companies and assets in the United States.
Nestlé to launch new growth fund of €500m
28/09/2005. Nestlé is to set up the Nestlé Growth Fund with committed capital of €500m, to be invested over five to seven years. The fund will help grow new businesses in the area of science and nutrition into a size that could allow them to be integrated into the mainstream business units of the Nestlé group.
US Clarion Capital Partners closes $256m fund
27/09/2005. New York-based private firm Clarion Capital Partners has completed its fundraising with commitments of $256m.
ISIS appoints Het Marsh to lead its AIM investing on behalf of Baronsmead VCTs
27/09/2005. UK mid-market private equity firm ISIS Equity Partners has appointed Henrietta (Het) Marsh to lead its AIM investing on behalf of the Baronsmead VCTs. Marsh gained UK small cap investment and private equity experience during 14 years at 3i.
Centurion Capital Partners renames itself BlackEagle Partners
27/09/2005. BlackEagle Partners is the new name for Centurion Capital Partners, the firm formed by a group of private equity veterans in April 2005 to focus on the private equity restructuring and turnaround market. The founding partners have chosen BlackEagle because it is a unique name and it stands for the team's approach, founding partner Michael D Madden explained.
UK institutional investors plan to allocate more money to private equity
26/09/2005. Many UK institutional investors expect to increase the proportion of total assets under management being allocated to private equity, according to a survey conducted by the Centre for Management Buyout Research and sponsored by European private equity fund of funds manager Adveq.
First Reserve Corporation sells Caledonia Oil & Gas to E.on for £470m
26/09/2005. Private equity firm First Reserve Corporation has sold North Sea gas production company Caledonia Oil & Gas to E.on for £470m.
ISIS Equity Partners expands Birmingham team
26/09/2005. UK mid-market private equity firm ISIS Equity Partners has appointed Matt Caffrey to its New Investments team in Birmingham.
CVCA appoints Goodmans Venture Group's Rick Nathan as president
23/09/2005. Canada's Venture Capital & Private Equity Association has appointed Rick Nathan, managing director of Goodmans Venture Group, as president of the Association. Nathan succeeds Ventures West Management's Dr Robin Louis, who will assume the role of chairman.
Carlyle to acquire Mexican private university Universidad Latinoamericana
23/09/2005. US private equity giant The Carlyle Group is to acquire a majority participation in Mexican private university Universidad Latinoamericana. Financial details of the transaction have not been disclosed.
3i strengthens infrastructure team with four appointments
23/09/2005. European private equity and venture capital firm 3i has strengthened its infrastructure team in London with the appointments of Neil King and Dougie Sutherland as partners, Alistair Ray as director and Angela Roshier as associate. The team now comprises seven professionals.
Lehman Brothers Merchant Banking acquires Spumador Group
23/09/2005. Lehman Brothers Merchant Banking, part of Lehman Brothers' private equity division, has agreed to acquire the Spumador Group, a family-owned Italian branded and private label soft drinks and mineral water bottling business.
Candover to acquire High Tech Optics from Thales for €220m
23/09/2005. Candover has agreed to acquire the High Tech Optics division of Thales for €220m. Management will also be investing in the transaction.
US Praesidian Capital appoints Chris Daniel to head Los Angeles office
22/09/2005. US firm Praesidian Capital Investors, a provider of mezzanine capital to middle-market companies, has appointed Christopher T Daniel as managing director to head the firm's office in Los Angeles, California.
IK merges new portfolio company Bonna Sabla with Consolis
21/09/2005. Industri Kapital, a European private equity firm with Nordic roots, has merged its recently acquired French company Bonna Sabla with Finish Consolis, which has been in IK's portfolio since 1997.
Cinven appoints Hildingsson, Sabben-Clare, Verity and Mitterrand
21/09/2005. European private equity firm Cinven has appointed Magnus Hildingsson, Matthew Sabben-Clare and Sarah Verity to its London team, and Moïse Mitterrand to its Paris team.
Bain Capital to acquire AREVA's connector subsidiary FCI for €1.07bn
20/09/2005. Bain Capital has agreed to acquire AREVA's connector subsidiary FCI in a transaction that values FCI at €1.07bn. This agreement has already been approved by AREVA's Supervisory Board.
Sun Capital Partners to acquire Indalex Aluminum Solutions
20/09/2005. US private equity firm Sun Capital Partners, through its affiliate Indalex Holding Corp., has agreed to acquire 100 per cent of the stock of Chicago, Illinois-headquartered Indalex Aluminum Solutions from Honeywell International.
Alchemy buys 178 city centre pubs and bars from Spirit Group for £177m
20/09/2005. Alchemy Partners' Tattershall Castle Group, backed by Alchemy Investment Plan, has agreed to acquire 178 city centre pubs and bars from the Spirit Group for £177m.
Paul Capital Partners closes Paul Capital Top Tier Investments III on $620m
20/09/2005. Paul Capital Partners has closed its third top tier venture capital fund of funds, Paul Capital Top Tier Investments III, on $620m, well above its original target of $500m.
IK sells explosives maker Dyno Nobel to Macquarie-led consortium for $1.7bn
19/09/2005. European private equity firm Industri Kapital and co-owner Ensign-Bickford Industries have agreed to sell commercial explosives company Dyno Nobel to a consortium of institutional investors led by Australia's Macquarie Bank for $1.7bn.
Parthenon Capital to buy American Wholesale Insurance Group
19/09/2005. Boston and San Francisco-based private equity firm Parthenon Capital has agreed to acquire a majority stake in American Wholesale Insurance Group. The company's management will continue to own a substantial portion of the company.
Kodiak Venture Partners hires Chip Meakem
19/09/2005. Seed and early stage venture capital firm Kodiak Venture Partners has appointed Chip Meakem as general partner. In his new role Meakem will help identify new investment opportunities and support Kodiak portfolio companies. He will focus on digital media, internet advertising and other emerging technology opportunities.
Blackstone-led private equity consortium to acquire UICI
16/09/2005. A consortium of private equity firms led by US buy-out giant The Blackstone Group and including Goldman Sachs Capital Partners and DLJ Merchant Banking Partners is to acquire North Richland Hills, Texas-headquartered insurance provider UICI in a cash merger at $37 per share. The transaction values the company at around $1.7bn.
Apax-led consortium reportedly bidding for Denmark's TDC
16/09/2005. An Apax Partners-led consortium has offered DKK355 (€48) per share for the Danish telecommunications provider TDC, according to the Financial Times. The consortium includes Permira, The Blackstone Group, Kohlberg Kravis Roberts & Co. and Providence Equity Partners.
3i to sell Local Press to Johnston Press for £65m
16/09/2005. 3i has agreed to sell Local Press, owner of the Belfast News Letter and Derry Journal, to Johnston Press for £65m deal. 3i will receive proceeds of £40m, which represents a money multiple of 1.7x and an IRR of 39 per cent on its original investment, the firm announced.
UK mid-market private equity firm Gresham backs MBO of Olaer
16/09/2005. UK mid-market private equity firm Gresham, through its Gresham III fund, has backed the management buy-out of Olaer, a specialist in the design, assembly and support of 'accumulators' (pressure regulators) and coolers for industrial hydraulic markets. The vendor is Expamet International. Financial details of the transaction have not been disclosed but experts reckon the value of the transaction is around £40m.
CVC, BC Partners, Blackstone, Macquarie reportedly reach last round in Fitness First auction
15/09/2005. CVC, BC Partners, Blackstone and Macquarie have reportedly reached the last round in the auction of Fitness First, according to the Financial Times.
KKR to open two offices in Asia
14/09/2005. US buy-out giant Kohlberg Kravis Roberts & Co. has chosen Hong Kong and Tokyo as locations for the firm's first offices Asia.
Advent International acquires Casa Reha Betriebs- und Beteiligungsgesellschaft
14/09/2005. Advent International has acquired a majority interest in German private nursing home group Casa Reha Betriebs- und Beteiligungsgesellschaft from JPMorgan Partners, Covenant Care International, German Equity Partners and the management, which is rolling over its stake. Financial details of the transaction have not been disclosed.
Pomona Capital closes $821m fund
14/09/2005. New York and London-based private equity investment firm Pomona Capital has closed its sixth secondary interest private equity fund, Pomona Capital VI, on $821m, well above its original $600m target. Fundraising started in October 2004.
Private equity consortium to acquire Hertz in one of the largest buy-out deals ever
13/09/2005. Clayton, Dubilier & Rice, The Carlyle Group and Merrill Lynch Global Private Equity have agreed to acquire The Hertz Corporation from Ford Motor Company for $15bn including debt. The consortium outbid The Blackstone Group, Texas Pacific Group, Bain Capital and Thomas H. Lee Partners who had all teamed up to submit a joint bid, according to reports.
Henderson Private Capital launches new Asia Pacific fund, promotes Scott Greck
13/09/2005. Henderson Private Capital, the private equity operation of Henderson Global Investors, has launched its second Asia Pacific fund. Henderson Asia Pacific Equity Partners II has a target of $400m.
Hermes Private Equity closes £250m private equity fund
12/09/2005. Hermes Private Equity, the private equity arm of Hermes Pensions Management, has closed its second direct private equity fund, Hermes Private Equity Partners II, on £250m.
AXA Private Equity hires Werner Quillmann
12/09/2005. AXA Private Equity has appointed Werner Quillmann as managing director, direct funds. He has been employed to strengthen AXA Private Equity's German LBO Team, based in Frankfurt office.
Petri Myllyneva new head of EQT Finland
12/09/2005. Northern European buy-out firm EQT Partners has appointed Petri Myllyneva as partner and head of the firm's Helsinki office. The current head of the Finnish operation has held the position since inception in 1998 and will continue as senior partner.
US Audax Group closes second private equity fund on $700m
09/09/2005.
Actis closes India Fund 2 on $325m and South Asia Fund 2 on $150m
09/09/2005. Emerging markets private equity investor Actis has raised $475m for investment in South Asia through its India Fund 2 and South Asia Fund 2. India Fund 2 has closed on $325m, above its original $300m target, while South Asia Fund 2 held its final closing on the original target fund size of $150m. India fund 2 had a first closing on 262m in June 2005 and South Asia Fund 2 on 135m in August 2005.
European venture firm Amadeus hires Alastair Breward
09/09/2005. European venture capital firm Amadeus Capital Partners has appointed Alastair Breward as chief operating officer. Alastair will assume responsibility for finance, human resources, information technology and information services.
Carlyle to acquire Japanese job magazine publisher Gakusei Engokai Group
09/09/2005. US private equity giant The Carlyle Group has agreed to acquire 100 per cent of the outstanding shares of Gakusei Engokai Co. and its subsidiaries from the founding family through a management buy-out. Financial details of the transaction have not been disclosed.
JPMP Asia closes $1.575bn buy-out fund, renames itself CCMP Capital Asia
08/09/2005. JPMorgan Partners Asia has closed its new Asian buy-out fund on $1.575bn. Asia Opportunity Fund II will invest in controlling stakes in leveraged buy-outs of medium to large-sized companies in the Asia Pacific region.
David Thomas new chairman of Latin American Venture Capital Association
08/09/2005. The Latin American Venture Capital Association's board of directors has elected David E Thomas, managing director of Intel Capital Latin America, as the Association's new chairman. He succeeds Richard Frank, CEO of Darby Overseas Investments.
GSC Partners appoints former Goldman Sachs partner Joseph H Wender
07/09/2005. GSC Partners, the transatlantic mezzanine and debt specialist, has appointed former Goldman Sachs partner Joseph H Wender as a managing director. Wender will work closely with Alfred C Eckert III, chairman and chief executive officer, and the other senior officers of the firm to explore new investment opportunities and expand geographically, GSC Partners said.
Rabobank sells Gilde Investment Management to management team
07/09/2005. Rabobank has sold its subsidiary Gilde Investment Management, a provider of risk-bearing capital, to the current management team. Rabobank plans to continue to invest in Gilde funds.
Spain-focused Adara Venture Partners raises €40m for first fund
07/09/2005. Luxembourg-based, Spain-focused venture capital investment firm Adara Venture Partners has held a first closing on its first fund, Adara Ventures SICAR (Société d'Investisement en Capital à Risque), on €40m.
Advent International to acquire Uruguay's Nuevo Banco Comercial in $167m private equity deal
07/09/2005. Advent International has agreed to acquire Uruguayan commercial bank Nuevo Banco Comercial from the Uruguayan government in a $167m deal.
InnovationsKapital hires healthcare and life sciences expert Ulf Tossman
07/09/2005. InnovationsKapital, a start-up and early-stage venture capitalist operating in the Nordic region, has hired Ulf Tossman as a new investment director in the Healthcare & Life Sciences team.
Bridgepoint acquires majority of capsules contract manufacturer Swiss Caps
07/09/2005. Bridgepoint has acquired a majority stake in Swiss Caps, a contract manufacturer of capsules and tablets for the health, nutritional supplements and pharma industries.
3i appoints Frederik Roth as senior director
07/09/2005. 3i has appointed Frederik Roth as senior director. He will join 3i's European buy-out team and will be based in Frankfurt. Roth will report directly to Dr Stephan Krümmer, managing director of 3i Germany.
US firm Thomas H. Lee Partners and H&Q Asia Pacific form alliance
06/09/2005. US private equity firm Thomas H. Lee Partners and H&Q Asia Pacific, a private equity firm that invests throughout the Asia Pacific region, will begin working in partnership to allow THL Partners' portfolio companies to locate expansion and outsourcing opportunities in Asia. The two private equity firms also plan to jointly pursue buy-out opportunities in Greater China, Japan and Korea.
Castle Harlan buys plastic pipe systems supplier Polypipe Group in £293m deal
06/09/2005. New York-based private equity investment firm Castle Harlan has acquired the Polypipe Group, a supplier of plastic pipe systems in the UK and Ireland, for £293m from international engineering company IMI.
German Triangle holds second closing of Fund IV on €30m
06/09/2005. German venture firm Triangle has held a second closing of its latest fund on €30m. The firm announced the first closing on €15m in June 2004. Fund IV has a target of €50-75m. It will invest in between 12 and 15 first-round technology-driven university and research spin-offs focusing on the IT and medical device markets.
HgCapital appoints Alex King to technology team
05/09/2005. European mid-market private equity investor HgCapital has appointed Alex King to its technology investment team as it expands its business in Germany and in the Benelux region.
Carlyle acquires UK children's car seat and pushchair maker Britax Childcare for £230m
05/09/2005. US private equity giant The Carlyle Group has agreed to acquire Britax Childcare, a manufacturer of premium branded children's car safety seats, for £230m from Britax International. Bids for the company were also submitted by ABN AMRO, Montagu, PPM, 3i, according to reports.
Macquarie, Orica, Bain, Apollo reportedly bidding for explosives maker Dyno Nobel
05/09/2005. Bain Capital, Apollo Management and a syndicate comprising Macquarie Bank and Orica are the three remaining bidders in the auction of Oslo, Norway-headquartered Dyno Nobel, the Financial Times reported. The auction is expected to fetch around €1.5bn. Dyno Nobel is currently owned by Industri Kapital.
Q2 venture capital investment into European companies down on quarter and year
02/09/2005. Venture capital investment into European companies slowed in Q2 2005, with €735.6m invested in 203 financing rounds compared to €921.6m invested in 223 deals in the first quarter and €1,121.9m invested in 318 deals in Q2 2004, according to the European Venture Capital Report released by VentureOne and Ernst & Young.
STAR sells investment in Inexus to Challenger Infrastructure Fund for £465m
01/09/2005. STAR Capital Partners has sold UK gas pipeline business Inexus to the Challenger Infrastructure Fund for an enterprise value of £465m. This is the first realisation from the firm's STAR 1 portfolio. STAR acquired Inexus in August 2001.
Dunedin Capital Partners to acquire Sand Aire Private Equity
01/09/2005. UK mid-market private equity firm Dunedin Capital Partners has confirmed that it is in advanced discussions to acquire Sand Aire Private Equity from Sand Aire Investment Management, the family wealth management company. Following the acquisition, Dunedin's funds under management will rise to £300m, with £100m available for investment in UK buy-outs.
OPIC issues call to manage investment funds for Eurasia
01/09/2005. The Overseas Private Investment Corporation has issued a call for proposals to manage one or more private equity investment funds designed to invest in Eurasian countries that were members of the former Soviet Union.
CVC to buy Belgian shoe repair and key cutting services chain Mister Minit
01/09/2005. European private equity firm CVC Capital Partners has confirmed its intention to acquire Erembodegem, Belgium-headquartered shoe repair and key cutting services chain Mister Minit from UBS Capital. Financial details of the transaction have not been disclosed.
ABN AMRO Capital completes €230m management buy-out of Loparex Group
01/09/2005. ABN AMRO Capital, the private equity business of Netherlands-based global banking group ABN AMRO, has completed its €230m management buy-out of the Loparex Group from Finnish listed paper and packaging group UPM-Kymmene.
Pioneer Capital appoints Dr David Evans to NZ Innovation Fund advisory board
01/09/2005. New Zealand venture investment firm Pioneer Capital Partners has appointed life sciences veteran Dr David Evans to its New Zealand Innovation Fund advisory board.
BVCA appoints Peter Linthwaite new chief executive
09/08/2005. The British Venture Capital Association has appointed Peter Linthwaite as its chief executive, with effect from 1 September 2005. He will succeed John Mackie who is stepping down after five years in the job.
|
