Acquisitions Monthly articles from September 2003

Acquisitions Monthly archives from September 2003

ING acquisition finance.(Sponsored Profile)(ING aims at the European leveraged finance market )
September 1, 2003... The combination of teams at ING Bank, ING Barings, BHF and BBL some two years ago created a strong platform of circa 50 professionals which, for the first time, brought together the European acquisition finance activities of the ING Group with...

All change: in the space of a few short years, the European mezzanine scene has changed almost beyond recognition from a flat structure populated by relatively undifferentiated players offering similar products, to a deep market where there is a wide array of different companies adopting niche positions.(Mezzanine overview)(statistical data included)
September 1, 2003... On larger deals, certainly those above 500m [euro], the job of arranging mezzanine debt is now almost exclusively done by the one-stop-shop investment banks, which are able to underwrite bigger tickets in the knowledge that there is sufficient...

Focus Wickes': "mezzanine note": ING's mezzanine note reinforces the trend away from structural subordination whilst successfully accommodating the conflicting interests of the senior banks, high yield bondholders and equity investors.(Sponsored Article)
September 1, 2003... After the well-publicised difficulties executing the high yield bridge take outs for Legrand SA and Brake Brothers, any proposed solution for Focus Wickes was inevitably bound to stir up significant interest. Focus Wickes was, after all and...

New alternative for LBO financing.(Mezzanine note)
September 1, 2003... After a protracted standoff between senior lenders and high-yield bond arrangers, The Royal Bank of Scotland and ING have finally launched a hybrid product to support the refinancing of Focus Wickes. The deal, which was priced successfully on...

Does warrantless mezz have a future? Bankers are divided on whether warrantless mezzanine debt will continue to play an integral role in LBO financing, or whether the market will revert to traditional, warranted mezzanine. (Warrantless mezzanine).
September 1, 2003... As Europe's mezzanine market continues its rapid evolution, so structures are changing to accommodate the existing investor base and attract new lenders. One of the major innovations over the past three years has been the growth of...

To sponsor or not? As independent UK mezzanine funds grow and competition sets in, will funds start to become more creative and follow the route of sponsorless deals?(Sponsorless mezzanine)
September 1, 2003... There has been speculation that the growth of warrantless mezzanine will have an impact on the sponsorless market. With private equity houses wishing for less dilution of their equity stakes, there could be an increased appetite among mezzanine...

Banks and captives.(Player profiles)(practicing mezzanine finance)
September 1, 2003... Bank of Scotland Bank of Scotland's mezzanine portfolio currently stands at 1.1bn [pounds sterling], with investments being made by various departments within Corporate Banking, including Structured Finance and Integrated Finance. The bank...

Independent mezzanine providers.(Player profiles)
September 1, 2003... AIG-MezzVest AIG-MezzVest manages a leveraged fund that, including both debt and equity components, totals 1bn [pounds sterling]. Launched in 2001, AIG-MezzVest is a division of CapVest and is backed by American insurer AIG. The fund is...

Gazing into the crystal ball: "where to you see opportunities for mezzanine investment in the next 12 months? How is the market likely to evolve?".(Viewpoints)
September 1, 2003... "The key driver for mezzanine investment opportunities is the leveraged buyout market which was weak in 2002 and the first half of 2003. Europe, however, remains an attractive market for mezzanine capital. Mid-sized companies (enterprise values...

Mezzanine deals 2002 to date.(Mezzanine deals)(Illustration)
September 1, 2003... MEZZANINE DEALS 2002 TO DATE Transaction name Sponsor Milbury Group Duke Street Capital Wardle Storeys Alchemy Partners Flakt Woods (ABB Fans) Compass Stahl ...

Fortune favours the brave.(mergers and acquisitions activity statistics in 2002 and 2003)
September 1, 2003... Global market conditions have had a damaging effort on M&A activity, but recent statistics do give hope that there are sectors that are bucking the trend. For the predatory, this is arguably the best time to be on the prowl, as large...

Dialogue returns to the market: M&A in the first half of 2003 was unsatisfactory but there are early signs of confidence re-emerging.(Review)(Illustration)(Industry Overview)
September 1, 2003... The first half's M&A data looks pedestrian. The figures are mostly flat on the first half of 2002, acquisitions driven by corporate growth have been rare, and the large investment banks are still scrapping for small deals. There are plenty of...

Skadden, Arps top M&A legal adviser: the value of announced transactions worldwide totalled US$552.4bn, a decline of 5.7% from 2002's half-year total.(Legal league tables)(Illustration)
September 1, 2003... Skadden, Arps, Slate, Mcagher & Flom climbed to the top of the worldwide announced legal adviser rankings for the first half of 2003. Despite market conditions yielding a decrease in worldwide rank value of transactions, Skadden Arps actually...

Belgium.(BNP Paribas and LOYENS Advocaten offices and contacts)(Brief Article)
September 1, 2003... ADVISER BNP Paribas Boulevard du Regent 47/48, 100 Bruxelles, Belgium Tel: +32 2 518 08 27 Fax: +32 2 518 08 72 Web: www.bnpparibas.com Contact: Title: Tel: VAN DE PUTIE Frederic Vice President...

Brazil.(BNP Paribas office contact)(Brief Article)
September 1, 2003... ADVISER BNP Paribas Av. Pres. Juscelino Kubitschek, 510-12[infinity], 04543-906--Itaim Bibi--Sao Paulo--SP, Brasil Tel: +5511 3048 9004 Fax: +5511 3048 9189 Web: www.bnpparibas.com Contact: Title: Tel:...

Denmark.(COWI offers environmental due diligence services)(Brief Article)
September 1, 2003... CONSULTANT COWI Parallelvej 2, 2800 Kongens Lyngby, Denmark Tel: +45 45 97 22 11 Fax: +45 45 97 22 12 Web: www.cowi.dk Add Value--and minimise risk COWI provides environmental due diligence on national and...

Finland.(Borenius & Kemppinen Ltd. law firm profile and partners)
September 1, 2003... Main office Yrjonkatu 13 A FI-00120 Helsinki Finland Tel: +358 9 615 333 Fax: +358 9 6153 3499 info@borenius.fi www.borenius.fi In association with Attorneys at law Liepa, Skopina/BORENIUS Blaumana 5a,...

France.(major corporate advisors, law firms and private equity groups; firm's profiles and employee contacts)
September 1, 2003... ADVISER BNP Paribas 4 rue d'Antin, 75002, Paris, France Tel: +33 1 42 98 1727 Fax: +33 1 42 98 1727 Web: www.bnpparibas.com Contact: Title: Tel: VARENE Thierry Global Head of...

Germany.(major consulting, legal and investment firms' profiles)
September 1, 2003... ADVISER BNP Paribas Trianon, Mainzer Landstrasse 16, 80328 Frankfurt am Main, Germany Tel: +49 69 7193 1830 Fax: +49 69 7193 1800 Web: www.bnpparibas.com Contact: Title: Tel. MEYER-HORN Philip...

Hong Kong.(Simmons & Simmons' office contacts)(Brief Article)
September 1, 2003... LEGAL Simmons & Simmons 35th Floor, Cheung Kong Center, 2 Queen's Road Central, Hong Kong Tel: +852 2868 1131 Fax: +852 2810 5040 Simmons&Simmons Web: www.simmons-simmons.com Simmons & Simmons is an international law firm...

Ireland.(A&L Goodbody, Arthur Cox, and Mason Hayes & Curran, law firms profiles)
September 1, 2003... LEGAL A&L Goodbody International Financial Services Centre, North Wall Quay, Dublin 1, Ireland. Tel: +353 1 649 2000 Fax: +353 1 649 2649 Web: www.alguodbody.com A&L Goodbody, Ireland's leading law firm specialises in...

Israel.(Apax Partners Israel Ltd.)(Brief Article)
September 1, 2003... PRIVATE EQUITY Apax Partners Israel Ltd 2 Maskit Street, PO Box 2034, Herzliya 46120, Israel Tel: +972 (0)9 960 8100 Fax: +972 (0)9 958 8366 www.apax.com Apax Partners is one of the world's leading private equity...

Italy.(major consulting, legal and investment firms)
September 1, 2003... ADVISER BNP Paribas Piazza San Fedele, 2, 20121 Milan, Italy Tel: +39 02 72 47 2457 Fax: +39 02 72 47 2040 Web: www.bnpparibas.com Contact: Title: Tel: Fax: LIPPI Marco Head of...

Japan.(Simmons & Simmons and TMI Associates joint venture)(Brief Article)
September 1, 2003... LEGAL Simmons & Simmons/TMI Associates 8th Floor, 37 Mori Building, 3-5-1 Toranomon, Minato-ku, Tokyo 105-0001, Japan Tel: +81 (0)3 5472 8555 Fax: +81 (0)3 5472 8556 Web: www.simmons-simmons.com Simmons & Simmons and TMI...

Mexico.(BNP Paribas office contact)(Brief Article)
September 1, 2003... ADVISER BNP Paribas Paseo de la Reforma No 300, Piso 13 Colonia Juarez, D.F.C.P 06600, Mexico Tel: +525 241 9441 Fax: +525 207 0389 Web: www.bnpparibas.com Contact: Title: Tel: Fax:...

Netherlands.(BNP Paribas, Tauw Milieu B.V. and Simmons & Simmons Trenite firm profiles)
September 1, 2003... ADVISER BNP Paribas Haaksbergweg 19, 1101 BP Amsterdam Z.O., The Netherlands Tel: +31 20 56 75 375 Fax: +31 20 56 75 367 Web: www.bnpparibas.com Contact: Tel: Fax: VAN BREDA Peter +31 20...

Portugal.(BNP Paribas and Simmons & Simmons' profiles and contacts)
September 1, 2003... ADVISER BNP Paribas Avenida 5 de Outurbo, no 206, 1050-065 Lisboa, Portugal Tel: +351 21 791 0240 Fax: +351 21 795 9589 Web: www.bnpparibas.com Contact: Title: Tel: DOS SANTOS Patricio ...

South Korea.(BNP Paribas office location)(Brief Article)
September 1, 2003... ADVISER BNP Paribas 7F Oriental Chemical Building, 50 Sogong-dong, Joong-ku, PO Box 7726, Seoul 100-070, Korea Tel: +82 2 317 1765 Fax: +82 2 754 8104 Web: www.bnpparibas.com Contact: Title: Tel: ...

Spain.(major investment and legal firms' profiles)
September 1, 2003... ADVISER Atlas Capital Close Brothers C/ Montaban 9, 28014 Madrid, Spain Tel: 00 34 91 524 11 23 Fax: 00 34 91 523 51 60 Web: atlascapital.es Atlas Capital Close Brothers is an independent investment banking firm specializing...

Switzerland.(Bain & Company Germany, Inc. and Walder Wyss & Partners' profiles)
September 1, 2003... CONSULTANT Bain & Company Germany, Inc. Karlsplatz 1, D-80335, Munchen, Germany Tel: +49 89 5123 0 Fax: + 49 89 5123 1113 Web: www.bain.de Bain & Company's mission is to help our clients create such high levels of...

United Kingdom.(financial, investment legal and consulting firms' profiles)
September 1, 2003... ADVISER Altium Capital Limited 30 St James's Square, London, SW1Y 4AL. UK Tel: 020 7484 4040 Fax: 020 7484 4010 Web: www.altiumcapital.com Vision and Perspective Altium Capital is a leading European investment banking...

United States of America.(investment companies, law firms and financial information services providers)
September 1, 2003... ADVISER BNP Paribas The Equitable Tower, 787 Seventh Avenue, 27th Floor, New York, NY 10019, USA Tel: +1 212 841 3171 Fax: +1 212 841 3799 Web: www.bnpparibas.com Contact: Tel: Fax: ...

Top monthly deals.(from June 2003 to August 2003)(Illustration)
September 1, 2003... TOP 10 GLOBAL DEALS ANNOUNCED IN JUNE 2002 Date Target Advisers 27/06/02 Railtrack (UK) Deutsche Bank/Merrill Lynch/Lehman Brothers...