|
US private equity funds continue to outperform public markets in Q3 2005
31/01/2006. Private equity funds continued to outperform the public markets across all time horizons in the third quarter of 2005, according to Thomson Venture Economics and the National Venture Capital Association. 
EQT to sell frozen food specialist Findus to CapVest
31/01/2006. EQT has agreed to sell frozen food specialist Findus to CapVest Equity Partners. Financial details of the transaction were not disclosed.
ONSET Ventures appoints Richard Schell
31/01/2006. Early stage specialist ONSET Ventures has appointed Richard Schell as a venture partner. The firm expects Schell to help them unearth new trends and important entrepreneurial ideas, and work to transform those ideas into viable businesses.
Permira reportedly interested in buying music and video retailer HMV
30/01/2006. Europe-based private equity firm Permira is interested in acquiring music and video retailer HMV, various reports suggest. The transaction, if it goes ahead, is expected to value the company at £800m, according to the Financial Times.
UK-based Terra Firma acquires AWAS from Morgan Stanley for $2.5bn
30/01/2006. UK-based buy-out group Terra Firma has acquired AWAS Aviation Holdings from Morgan Stanley for $2.5bn. AWAS is an aircraft leasing company with a portfolio of 155 owned aircraft. Its customers include some of the major international and regional airlines.
STAR Capital Partners completes two new German investments
30/01/2006. STAR Capital Partners has completed two new deals in Germany: Abellio and GSES. The combined equity investment (including expected future capital commitments to the businesses) is €70m.
QUARTILIUM hires Olivier Thévenet
27/01/2006. QUARTILIUM, the private equity fund of funds arm of Groupama in France, has appointed Olivier Thévenet as investment manager.
Bridgepoint sells stake in Spanish wind farm developer CESA
27/01/2006. Pan-European private equity firm Bridgepoint has sold its stake in Spanish wind farm developer CESA to Spanish construction and energy group Acciona. The transaction values the business at €1.47bn.
UK buy-out firm ECI sells marketing database specialist ClarityBlue for £85m
26/01/2006. UK mid-market buy-out firm ECI Partners has sold marketing database specialist ClarityBlue to Experian, a subsidiary of GUS, for £85m. ECI’s proceeds of £47.2m represent an eight times multiple on ECI's investment in two and a half years, according to ECI.
Pan-European private equity firm Bridgepoint sells Robinia for £80m
26/01/2006. Pan-European private equity firm Bridgepoint has sold Robinia, a specialist in the provision of intensive support services for adults and young people with learning difficulties, to Barclays Private Equity for £80m. Mid-market private equity provider LDC is expected to co-invest alongside Barclays Private Equity.
US firm General Catalyst Partners closes new fund on just under $400m
25/01/2006. US venture capital firm General Catalyst Partners has closed its latest fund, General Catalyst Group IV, on nearly $400m.
US Leonard Green & Partners acquires The Sports Authority in $1.3bn transaction
25/01/2006. An investor group led by Los Angeles-based private equity firm Leonard Green & Partners and including members of The Sports Authority's senior management team has agreed to acquire the Englewood, Colorado-headquartered sporting goods retailer for $37.25 per share in cash.
H&Q Asia Pacific raises $500m for North Asian buy-outs
25/01/2006. H&Q Asia Pacific has raised $500m for the North Asia region through its two new funds. Asia Pacific Growth Fund V and H&Q-NPS Fund I will invest in later stage and larger deals where they either have control or significant influence.
US venture capital investing in 2005 similar to 2004
25/01/2006. Venture capitalists invested $21.7bn in 2,939 deals in the US in 2005 and matched 2004 figures, according to the MoneyTree Survey by PricewaterhouseCoopers, Thomson Venture Economics and the National Venture Capital Association. In 2004 venture capitalists invested $21.6bn in 2,966 deals.
DFJ Gotham Ventures hires entrepreneur Jed Katz as venture partner
25/01/2006. New York-based early stage technology venture capital firm Draper Fisher Jurvetson Gotham Ventures has appointed Jed Katz as a venture partner.
Deutsche Beteiligungs AG closes DBAG Fund V on €434m
25/01/2006. Deutsche Beteiligungs AG has closed its latest buy-out fund, DBAG Fund V, above target on €434m. The original target was €375m.
SGAM AI acquires Baring Corilius Private Equity
24/01/2006. Société Générale Asset Management Alternative Investments, a member of the Société Générale Asset Management group, has acquired Baring Corilius Private Equity to expand its activities in Central and Eastern Europe.
Private equity and venture capital firms completed more Indian exits in 2005 than in 2004
24/01/2006. Private equity and venture capital firms obtained exit routes for their investments in 42 Indian companies, including 17 via IPOs, in 2005. This was a significant increase from the 30 liquidity events, including six IPOs, in 2004, according to data from Venture Intelligence India.
AXA Private Equity, Caisse de dépôt et placement du Québec renew partnership
24/01/2006. AXA Private Equity and the Caisse de dépôt et placement du Québec, which have been partners since 1996, have renewed their private equity partnership on the key markets of North America, Europe and Asia.
US venture capital investing in 2005 at highest level since 2001
23/01/2006. US venture capital investing in 2005 rose to $22.13bn invested in 2,239 deals - its highest level since 2001 when $36.24bn was invested in 3,268 deals, according to the Quarterly Venture Capital Report released by Ernst & Young and VentureOne.
London Asia Capital is seeking £50m for investment in China
23/01/2006. London Asia Capital, the Greater China-focused investment and merchant banking group, has announced the proposed launch of London Asia Chinese Private Equity Fund. The China-focused fund is seeking to raise up to £50m.
US firm RockPort Capital Partners closes second venture capital fund on $261m
20/01/2006. Boston, US-based RockPort Capital Partners has closed its second venture capital fund, RockPort Capital Partners II, on $261.15m. The fund will make early, mid and later stage investments.
US Thoma Cressey Equity Partners closes eighth private equity fund on $765m
19/01/2006. Chicago-based Thoma Cressey Equity Partners has held a final closing of Thoma Cressey Fund VIII with $765m of investor commitments. Fundraising began in June 2005 and the original target was $650m.
Private equity and venture capital investments in India reach $2.3bn in 2005
19/01/2006. Private equity and venture capital firms invested about $2.3bn in Indian companies across 147 deals during 2005, according to Venture Intelligence India, a division of TSJ Media. The amount invested and the number of deals were significantly higher compared to the $1.6bn invested across 68 deals in 2004.
2005: European venture-backed companies raise most capital since 2000
19/01/2006. A total of 60 European venture-backed companies completed IPOs in 2005, raising €2.03bn, the most in a single year since 2000 when 181 companies raised €12.05bn by completing IPOs, according to the European Liquidity Report from VentureOne.
US private equity firm Bain Capital buys Burlington Coat Factory in $2bn transaction
19/01/2006. Boston-headquartered Bain Capital Partners has agreed to acquire multi-department retail chain Burlington Coat Factory Warehouse Corporation in a $2.06bn transaction. Bain Capital will acquire all of the outstanding shares of Burlington Coat Factory Warehouse Corporation for $45.50 per share in cash.
ADB, ADM Capital close fund for financially distressed companies in Asia
18/01/2006. The Asian Development Bank and ADM Capital have teamed up and closed a $338m fund, the ADM Maculus Fund II. The new fund will promote the recovery of financially distressed but potentially viable companies in Asia.
Carlyle buys Hispanic Teleservices Corporation
18/01/2006. US private equity giant The Carlyle Group has purchased a majority stake in Hispanic Teleservices Corporation, a provider of customised bilingual call centre services, from JPMorgan Partners and Citigroup Venture Capital International. Financial terms of the transaction were not disclosed.
ABN AMRO Capital, SEB Företagsinvest, Innovationskapital to sell Kreatel
18/01/2006. ABN AMRO Capital, SEB Företagsinvest and Innovationskapital have agreed to sell Swedish set-top box provider Kreatel Communications to Motorola. Completion of the deal is expected during the first quarter of 2006, subject to regulatory approval.
Emerging markets specialist CDC hires Jean-Marc Savi de Tove and Sven Soderblom
17/01/2006. Emerging markets investor CDC has appointed two investment managers, Jean-Marc Savi de Tove and Sven Soderblom. They will work across CDC's network of regions (Asia, Africa and Latin America), with responsibility for managing commitments to CDC's existing fund managers and identifying new fund managers.
Electra Partners Europe sells BWG subsidiary Bargain Booze for £63.5m
16/01/2006. European mid-market private equity specialist Electra Partners Europe has sold Bargain Booze, a subsidiary of the Irish and UK wholesale distribution business BWG, to ECI Partners for £63.5m.
Private equity groups bid approximately €7.3bn for Dutch media giant VNU
16/01/2006. A private equity consortium consisting of AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co., Permira and Thomas H. Lee Partners is bidding approximately €7.3bn for VNU, the Netherlands-based media giant.
PPM Managers hires John Euers as associate director
16/01/2006. PPM Managers, the London-based fund of funds investment arm of Prudential, has expanded its team dedicated to investments in private equity partnerships with the appointment of John Euers as associate director. Euers will work alongside Roberto Pilotto and Simon Faure focusing on the development of primary fund investments in Europe and Asia.
Southern European firm Investindustrial acquires Spanish company INAER
13/01/2006. Southern European mid-market buy-out firm Investindustrial has acquired 75 per cent of the Spanish company INAER Inversiones Aéreas, S.L., a European on-shore helicopter company.
US BankCap Partners launches inaugural fund
13/01/2006. Dallas-based private equity firm BankCap Partners has launched its inaugural fund, BankCap Partners Fund I, with a $200m target. BankCap expects its first closing for the fund in March 2006.
Tailwind Capital becomes independent, Frank Sica to join team
13/01/2006. Tailwind Capital, a private equity firm focused on control investments in middle-market healthcare, media/communications and business services companies, has completed its previously disclosed restructuring of the $1.3bn Thomas Weisel Capital Partners fund, which it has managed since 2003, ending Tailwind's affiliation with investment banking firm Thomas Weisel Partners.
Israeli high-tech companies raise eight per cent less in 2005 compared to 2004
12/01/2006. In 2005 a total of 378 high-tech Israeli companies raised $1.34bn from local and foreign venture investors. This represents an eight per cent decrease from the $1.46bn raised in 2004 but a 32 per cent increase from 2003 levels ($1.01bn), according to the Quarterly Survey conducted by the IVC Research Center.
New Finnish firm Conor Venture Partners holds first close on €16m
12/01/2006. Conor Venture Partners, a new Finland-based venture capital firm, has held a first closing on its Conor Technology Fund I on €16m. The target size of the fund is €50m.
CVC, KKR and Oranje-Nassau to acquire AVR in €1.4bn deal
11/01/2006. A consortium consisting of pan-European buy-out firm CVC Capital Partners, US buy-out firm Kohlberg Kravis Roberts & Co. and Dutch investment firm Oranje-Nassau Groep has agreed to acquire all of the outstanding share capital owned by the Municipality of Rotterdam in AVR for a total enterprise value of €1.4bn.
STAR Capital Partners hires Rick Haythornthwaite
11/01/2006. STAR Capital Partners has appointed Rick Haythornthwaite as a managing director. He will join STAR's senior management team with chief executive Tony Mallin and managing director Stephen Wright.
Duke Street hires Charlie Troup as partner
10/01/2006. UK and French buy-out firm Duke Street Capital has appointed Permira's Charlie Troup as a partner. In his new role he will work across all aspects of deal making - origination, execution, transformation and exit.
Richard J Bressler joins Thomas H. Lee Partners
10/01/2006. US-based buy-out firm Thomas H Lee Partners has appointed Richard J Bressler as a managing director and head of its Strategic Resource Group, which provides services to the firm's portfolio companies.
Emerging markets specialist CDC commits further capital in Africa
10/01/2006. Emerging markets investor CDC, formerly the Commonwealth Development Corporation, has committed over $140m to seven funds in Africa.
Orchid Asia closes third fund on $180m
10/01/2006. Orchid Asia Group Management has closed its third fund, Orchid Asia III, raising more than $180m in capital commitments. Investors are institutions and high-net-worth families from Europe, Asia, the US and the Middle East.
CMEA Ventures hires Jim Hornthal as venture partner
10/01/2006. CMEA Ventures, a venture capital firm focusing on information technology and life sciences companies, has appointed Jim Hornthal as venture partner. He will be responsible for investments in the areas of digital media and internet.
Bain Capital to acquire Sensors & Controls business of Texas Instruments for $3bn
10/01/2006. US buy-out firm Bain Capital has agreed to acquire Texas Instruments' Sensors & Controls business for $3bn in cash.
Montagu Newhall Associates raises $250m venture capital fund of funds
10/01/2006. Montagu Newhall Associates has closed its latest venture capital fund of funds, Montagu Newhall Global Partners III, on $250m. The original target of the fund was $200m.
Care Capital Investments III closes on $300m
09/01/2006. Care Capital has closed its third life sciences venture capital fund, Care Capital Investments III, on $300m, exceeding its original $225m target.
Mid Europa Partners closes €650m buy-out fund
09/01/2006. Mid Europa Partners, formerly known as EMP Europe, has held a final closing of €650m in third-party money on its latest fund, Emerging Europe Convergence Fund II. The fund was launched in May 2005 with an original target of €500m.
Investcorp to acquire French Autodistribution from Goldman Sachs
09/01/2006. Investcorp has agreed to acquire Autodis, the holding company for Autodistribution, a French distributor of auto, truck and industrial spare parts, from Goldman Sachs. Financial details of the transaction have not been disclosed.
Canadian private equity firm Second City Capital appoints Richard Osborn
09/01/2006. Canadian private equity firm Second City Capital Partners has appointed Richard Osborn as partner. Osborn will focus on deal generation and portfolio management for companies based in Canada and the Western United States.
Mason Wells closes Fund II above target on $300m
06/01/2006. Milwaukee, Wisconsin-based middle-market private equity firm Mason Wells has held a final closing on its latest investment fund, Mason Wells Buyout Fund II, with total commitments of $300m. The original target of the fund was $250m.
Research: value of larger UK MBOs increased to £25bn in 2005 from 20bn in 2004
05/01/2006. A total of 162 larger buy-outs were completed in 2005, with a total value of £24.9bn, compared to 154 deals worth £19.6bn in 2004. This represents a 27 per cent increase by value and five per cent increase by number from 2004, according to figures released by KPMG's Private Equity Group, which tracks UK buy-outs with a value over £10m.
Prices paid for venture-backed US M&A deals in 2005 reach highest aggregate total since 2000
05/01/2006. US venture-backed companies claimed higher prices in M&As in 2005, with an aggregate $27.3bn paid in 356 transactions, the highest total amount paid in a single year since 2000. In 2000 a total of 458 M&As were acquired for $98.1bn, according to the Quarterly Liquidity Report from VentureOne.
2005 number of IPOs and total IPO offer amount declined from 2004
04/01/2006. In 2005 a total of 56 venture-backed IPOs raised $4.5bn, according to the Exit Poll report by Thomson Venture Economics and the National Venture Capital Association. This was a strong decline compared to both the number of IPOs (93) and the total IPO offer amount ($11bn) in 2004.
UK Quester hires technology expert Sergio Levi
04/01/2006. UK venture capital firm Quester has appointed Sergio Levi as investment director in the firm's Information and Communications Technology team. He will specialise in investments in the semiconductor and electronics sector.
Apax to acquire Tommy Hilfiger in $1.6bn deal
03/01/2006. Tommy Hilfiger Corporation and Apax Partners have announced a definitive agreement for Apax to acquire Tommy Hilfiger in a merger valued at approximately $1.6bn.
CMEA Ventures announces Gordon Hull's departure
03/01/2006. CMEA Ventures, a venture capital firm focusing on information technology and life sciences companies, has announced that its general partner Gordon Hull is planning to leave the firm.
Kraft Canada sells grocery assets to Sun Capital Partners and EG Capital Group
03/01/2006. Sun Capital Partners, Inc. and EG Capital Group, LLC, two private equity firms specialising in leveraged buy-outs have announced that a new company owned by two of their affiliates, expected to be named CanGro Foods, has reached an agreement to acquire various grocery assets from Kraft Canada Inc.
Stone Point Capital exits Sedgwick CMS Holdings to Fidelity National Financial
03/01/2006. Sedgwick CMS Holdings has announced the signing of a definitive agreement for Fidelity National Financial to acquire Sedgwick CMS Holdings for $635m. The sellers are Marsh & McLennan Companies and Trident II, L.P., the private equity fund managed by Stone Point Capital.
AC Hotels exit for 3i
03/01/2006. Private equity firm 3i has reached an agreement with AC Hotels for the Cosmen family to acquire 3i's stake in the hotel group.
AXA Private Equity in secondaries deal with Sandell Asset Management for Camaieu
03/01/2006. Modamax, Camaieu’s controlling holding company, has completed the acquisition of Sandell Asset Management’s 10.4 per cent shareholding in Camaieu.
Global Equity Partners and GCP sell ISP firm inode to Liberty Global for €94m
03/01/2006. Within twelve months of their first investment in Austrian broadband ISP inode Telekom GmbH, venture capital investors GCP and Global Equity Partners have announced the sale of their shareholding in inode to UPC Austria, a subsidiary of Liberty Global Inc.
German Private Equity booms in 2005 and outlook for 2006 is buoyant
03/01/2006. In 2005, financial investors in Germany carried out more transactions than ever before says new Ernst & Young research. The number of private equity transactions increased by 18 per cent from 113 in 2004 to 133 in 2005. At the same time, the value of the private equity investments rose by 26 per cent to €29.5bn.
Electra buys-out LUK Fahrzeug-Hydraulik
03/01/2006. European buy-out firm Electra Partners Europe has announced the acquisition of LUK Fahrzeug-Hydraulik from the German family-owned group INA-Holding Schaeffler KG.
Unigestion staffs up private equity investment team
03/01/2006. European asset management firm Unigestion has hired three new investment professionals for its Geneva and London-based private equity team.
Riverside acquires hematology equipment company
03/01/2006. Private equity house Riverside has announced its purchase of Diatron, a Budapest-based manufacturer of hematology analysers. This deal marks Riverside's 117th leveraged buyout since the firm's founding in 1988.
DaimlerChrysler sells MTU to EQT
03/01/2006. Private equity fund EQT IV has announced that it has signed an agreement with DaimlerChrysler to acquire 100 per cent of German engine manufacturer MTU Friedrichshafen GmbH, including part of Detroit Diesel in the US.
Bumper year for UK buy-outs in 2005
03/01/2006. The UK MBO market completed a record year with a healthy final quarter of 2005 according to figures released by KPMG’s Private Equity Group. Transactions with a total value of £6.05bn were completed in the UK in 2005's fourth quarter.
NeoMed closes fourth fund on €104m
03/01/2006. NeoMed Management has closed its latest fund, NeoMed Innovation IV, on €104m. Investors include institutional and private investors based in the UK, Sweden, Norway, Saudi Arabia and Switzerland.
20/01/2006.
|
