European Venture Capital Journal articles from February 2006

European Venture Capital Journal archives from February 2006

Editor's note.(awards to venture capital companies)
February 1, 2006... As we trundled through the December rush of parties and present buying, newspapers were full of reminiscences of what befell in 2005 and the start to a New Year is always an editorial mix of what went before and what's coming. We've largely...

Low cost venture deals? Standard documentation to be published shortly by the British Venture Capital Association (BVCA) could reduce the transaction costs on early stage venture deals. But how effective will this initiative prove and, in the longer term, could it lead to similar standardisation in Continental Europe?
February 1, 2006... Moves have been afoot in the last couple of years for the UK venture industry to follow the US example and come up with more generic legal documentation in order to cut transaction costs on deals. It now looks like a BVCA-sponsored initiative...

Corporate venturing: a new approach.(syndication of corporations and venture capital companies)
February 1, 2006... Corporate venturing is making a comeback and with it comes a new approach that draws on the experience of traditional venture capitalists either in a formal or informal capacity. Syndication of corporate venturing deals with traditional venture...

PPE welcomes private investors.(Parallel Private Equity)(Hotbed's Parallel Private Equity's 2006 Fund)
February 1, 2006... Hotbed, the private investor network, is offering individual investors the opportunity to participate in a mainstream private equity fund alongside major institutional investors, by teaming up with Parallel Private Equity (PPE). Hotbed's...

Help is at hand!(Equity Entrepreneur Programme)(Brief Article)
February 1, 2006... A new scheme, called the Equity Entrepreneur Programme, offering one-day practical workshops that provide an understanding of investing in unquoted smaller companies was launched in January. The scheme is a not-for-profit community interest...

New Sigma partnership.(Sigma Technology Group plc partnered with Scottish Enterprise)(Brief Article)
February 1, 2006... Sigma Technology Group plc has become Scottish Enterprise' fourth Digital Media Investment Fund partner, and in so doing it joins Ingenious Media, Fund4Games and Glasgow Film Finance Limited. The Digital Media Investment Fund is a 3.5m [pounds...

Seed success in Oxford.(Oxford Early Investments appoints Joanna Sobek )(Brief Article)
February 1, 2006... Oxford Early Investments (OEI), a business angel network that specialises in raising finance for very early stage companies, has concluded its first year of operations and has appointed Joanna Sobek as its new manager. OEI was established...

Braveheart launches new fund.(SEED THROUGH EARLY STAGE)(Brief Article)
February 1, 2006... Perth, Scotland-based Braveheart Ventures has launched a new fund called the Alpha EIS Fund, which is a tax efficient investment scheme that will make investments in university spin-out companies. Braveheart has framework arrangements with...

Founding partners leave Compass.(resignations of Paul Soldatos, John Clark)(Brief Article)
February 1, 2006... Paul Soldatos and John Clark, two of the funding partners of UK-based private equity firm Compass Partners, have resigned. The partners left in mid-November by mutual agreement to pursue other activities. The fund is now under the direction of...

Changes ahead for AIM.(NEWS)(Alternative Investment Market )(Brief Article)
February 1, 2006... After a record year, the London Stock Exchange's Alternative Investment Market (AIM) is likely to face restructuring soon as its rapid growth has caused its investor base to become misaligned with its listed companies. Grant Thornton...

Frontiers Capital acquires Vesta portfolio.(NEWS)
February 1, 2006... Frontiers Capital has closed a new fund, Frontiers Capital III LP, to acquire the entire portfolio of Vesta Capital for an undisclosed sum. The portfolio comprises a number of assets in the technology and related sectors, including stakes in...

Food industry warned over CEE risks.(NEWS)(Central and Eastern Europe)(Brief Article)
February 1, 2006... The time is ripe for investment in the food and drinks sector in Central and Eastern Europe, says 3i in a new report, but it warns the industry must proceed with caution. In the European food and drink report--Emerging markets and the role of...

Guidelines website launched.(NEWS)(Brief Article)
February 1, 2006... A private equity valuation guidelines website has been created by the International Private Equity and Venture Capital Valuation board (IPEV). IPEV was formed in June 2005 following the release of the International Private Equity and Venture...

Panmure Capital launches.(Bank of Scotland)(Panmure Gordon and Co.)(Brief Article)
February 1, 2006... Corporate and institutional stockbroker Panmure Gordon and Bank of Scotland Corporate have launched a joint-venture called Panmure Capital, a co-investment vehicle targeting late stage pre-IPO funding opportunities. Panmure Gordon and Bank of...

Murray VCTs complete merger.(Close Venture Management )(Brief Article)
February 1, 2006... Close Venture Management (CVM) has completed the merger and renaming of the three Murray VCT funds, which have been managed by CVM since April 2005, see EVCJ March issue, page 12. Murray VCT, Murray VCT2 and Murray VCT3 have merged to become...

Dutch pension fund to invest 100m [euro] in PE.(NEWS)(Brief Article)
February 1, 2006... Pensioenfonds Horeca & Catering, a 2bn [euro] Dutch pension fund for the hotel and catering industry, has mandated Goldman Sachs Private Equity Group and HarbourVest Partners to invest 50m [euro] each into private equity in 2006. This move...

Corporate venturing down.(NEWS)
February 1, 2006... Corporate venturing activity in 2004 registered a decrease in investment amounts and divestments compared to 2003, according to the fifth annual Corporate Venturing Survey published by the European Private Equity & Venture Capital Association...

3i's energy boost.(3i Group PLC appoints Shaun Kingsbury)(Brief Article)
February 1, 2006... 3i is extending the remit of its Aberdeen-based oil and gas team beyond North Sea deals and broadening its energy profile into the midstream gas and power industry. The team has recently appointed Shaun Kingsbury, former commercial director for...

GE Commercial opens in Germany.(GE Commercial Finance)(Brief Article)
February 1, 2006... GE Commercial Finance, the business-to-business financing arm of GE, has opened a leveraged finance office in Frankfurt. This is the business' first foray into Germany and comes just a few months after it was awarded the mandate to lead...

Non-exec recruitment practice launched.(Ashton Penney)(Brief Article)
February 1, 2006... Ashton Penney, a UK recruitment agency, has launched a new practice aimed at finding and placing non-executive directors in public and private mid-market businesses. The company believes boards of all companies should regularly review the...

Loan investors warned over default risks.(NEWS)(Brief Article)
February 1, 2006... Leveraged loan investors are playing a dangerous game by ignoring recovery prospects says Standard & Poor's European Leveraged Finance group in its new newsletter, "Leverage Matters." The ratings agency argues too many investors assume that...

AlpInvest Partners gets record mandate.(NEWS)(Brief Article)
February 1, 2006... AlpInvest Partners has received a new mandate from pension funds ABP and PGGM of 11bn [euro]. The new mandate further strengthens the position of AlpInvest as one of the largest private equity investors worldwide. AlpInvest's new mandate...

VCTS left waiting.(NEWS)(Venture Capital Trusts )(Brief Article)
February 1, 2006... Venture Capital Trusts (VCTs) were left in limbo following the pre-Budget report by British Chancellor of the Exchequer, Gordon Brown. With the current tax relief rules due to expire on April 6, 2006, the VCT industry was hoping to hear what...

FRR eyeing private equity.(Fonds de Reserve pour les Retraites)(Brief Article)
February 1, 2006... The Fonds de Reserve pour les Retraites (FRR) is to launch a European request for proposal (RFP) for the award of several private equity fund-of-funds mandates as part of the implementation of its first programme in the asset class. The amount...

GED and Warburg to develop SE European property.(GED Private Equity Group, Warburg Pincus L.L.C.)(Brief Article)
February 1, 2006... GED Private Equity Group and Warburg Pincus have teamed up to invest in a new property business targeting opportunities in Southeast Europe. Led by managing partners Andrew Stear, a UK developer based in Romania, and Teodor Pop, a Romanian...

UK manufacturing going strong.(NEWS)(Brief Article)
February 1, 2006... Research from independent corporate finance house Close Brothers, shows the UK manufacturing sector has been the biggest acquirer of domestic and overseas manufacturing assets in 2005. In 2005, the UK manufacturing industry made 187...

ING sells Steadfast stake.(NEWS)(Brief Article)
February 1, 2006... ING Group is selling its 100% interest in German private equity fund Steadfast Capital Beteiligungen I, which is managed by Steadfast Capital, formerly known as BHF Private Equity. BHF Private Equity changed its name to Steadfast Capital last...

Retail sees 2bn [pounds sterling] fall in deal value.(NEWS)(Brief Article)
February 1, 2006... The average value of deals in the retail M&A sector has fallen by almost 2bn [euro], according to a report by PricewaterhouseCoopers (PwC). In 'Retail and Branded Goods Insight', PwC Corporate Finance reports the number of deals for the first...

Baring Corilius acquired by SGAM.(NEWS)(Societe Generale Asset Management Alternative Investments )(Brief Article)
February 1, 2006... Societe Generale Asset Management Alternative Investments (SGAM AI) Private Equity has acquired Baring Corilius Private Equity (BCPE), the private equity funds management team focused on Central and Eastern Europe. BCPE has changed its...

PE a threat to corporates.(NEWS)(competition of private equity funds in aqcuisitions)(Brief Article)
February 1, 2006... British corporates remain in confident mood over the future of the M&A market, and a growing number now view private equity houses as a worrying threat in competing for deals. In its latest survey, UK Deal Confidence, PricewaterhouseCoopers...

Fruit and veg ripe for consolidation.(NEWS)(Brief Article)
February 1, 2006... Suppliers of fruit and vegetables and fresh meat, fish and poultry are the most likely sectors to experience consolidation within the UK food industry, according to research carried out by business and financial advisers Grant Thornton in...

Conference growth attracts private equity.(NEWS)
February 1, 2006... Private equity funds are becoming increasingly interested in investing in training and conference centres (TCCs), according to a report by PricewaterhouseCoopers (PwC). This growing market saw an increase in supply of 11% between 2002 and...

AXA and Caisse embark on 1.5bn [euro] partnership.(Caisse de Depot et Placement du Quebec)(Brief Article)
February 1, 2006... AXA Private Equity and Caisse de depot et placement du Quebec have signed an agreement which will see the two firms strengthen their private equity partnership at a cost of 1.5bn [euro]. This latest move, which builds on a relationship...

New Finnish venture fund launched; Conor Venture Partners has launched a 50m [euro] tech fund.(FUNDS)
February 1, 2006... Finland has a new venture capital firm in the shape of Conor Venture Partners, which has reached a first closing on its maiden fund on 16m [euro]. Conor Technology Fund I will focus on early stage technology companies in Finland, Sweden and the...

Danske III raises 311m [euro].(FUNDS)(Brief Article)
February 1, 2006... * Danske Private Equity has held a first closing on its third fund-of-funds on 311m [euro]. Danske Private Equity Partners III is to invest in mid-market and venture funds in North American and Western Europe, the capital raised is to be split...

SES Iberian Fund close.(FUNDS)(Brief Article)
February 1, 2006... * SES Iberian Fund 1 has reached a final close at 50m [euro]. Fifteen French, Portuguese and Spanish investors make up the core subscribers. Of these, 82% are financial institutions and 18% family offices and high net worth individuals. ...

Investcorp raises US$300m.(FUNDS)(Investcorp Technology Ventures )(Brief Article)
February 1, 2006... * Investcorp Technology Ventures (ITV) has reached a final closing of Investcorp Technology Ventures II, LP (ITV Fund II), with US$300m in total committed capital. The fund was well oversubscribed at its original target of US$250m, and hit its...

Perfectis II closes.(FUNDS)(Brief Article)
February 1, 2006... * Perfectis Private Equity has closed Perfectis II at 122m [euro], just five months from launch in June 2005. Perfectis II had an original target of 100m [euro] and was significantly oversubscribed. Commitments to Perfectis II have come...

LVG 5 raises 200m [pounds sterling].(FUNDS)(Legal and General Ventures )(Brief Article)
February 1, 2006... * Legal and General Ventures (LGV), has closed its fifth private equity fund raised since 2000. LGV 5 Private Equity Fund Limited Partnership (LGV 5) has raised aggregate commitments of 200m [pounds sterling], an increase of nearly 10% over the...

SE Europe fundlists.(FUNDS)(c)(Brief Article)
February 1, 2006... * Dolphin Capital Investors (DCI), a private equity fund that targets residential resort investments in Southeast Europe, has listed on the London Stock Exchange's AIM market. The float saw 104 million new ordinary shares placed at 68p, raising...

Pond Ventures above target.(funding of Pond Venture Partners )(Brief Article)
February 1, 2006... In another glimmer of hope for European venture, Pond Venture Partners has reached a second closing of its third fund Pond III at US$130m and will soon be closing off the fund at US$145m, which is oversubscribed and above the original target of...

Blackstone's US$12bn.(Blackstone Group L.P.'s fund raising)(Brief Article)
February 1, 2006... * Blackstone has reached a second close on its record-breaking fund raising at US$12bn and there are rumours it will raise a further US$1bn before its final close in Q1 this year. This makes the fund the largest the private equity market has...

AiM VCT seeks 40m [pounds sterling].(venture capital trusts)(Brief Article)
February 1, 2006... * AiM VCT 2, which is managed by Bluehone Investors, is seeking an additional 40m [pounds sterling] of funds by way of a "C' share issue. The VCT focuses primarily on companies whose shares are quoted on London's Alternative Investment Market...

ACP Capital raises 50m [pounds sterling].
February 1, 2006... * ACP Capital, a Jersey-based niche private equity investment and fund manager, is listing on the London Stock Exchange's Alternative Investment Market (AIM). The business has successfully raised 50m [pounds sterling], by way of a placing of...

EQT Opportunity fund close.(Brief Article)
February 1, 2006... * EQT has closed the EQT Opportunity Fund, a special situations fund, attracting commitments of around 350m [euro]. The fund was capped at 350m [euro], exceeding its original target by 100m [euro]. The fund raising was officially launched in...

CAM smashes fund target.(CAM Private Equity)(Brief Article)
February 1, 2006... * CAM Private Equity, a German private equity fund-of-funds manager, has closed its third vehicle on 306m [euro], significantly over its target size of 200m[euro]. CAM DREI (III) was raised wholly in Europe, from insurance firms, banks, pension...

NeoMed Innovation IV fundclose.(NeoMed Management )(Brief Article)
February 1, 2006... NeoMed Management has held a final closing of NeoMed Innovation IV LP, a Jersey-based healthcare and life sciences venture capital fund. The fund has raised 104m [euro]. Investors include fund-of-funds, institutional and private investors based...

Baronsmead VCT 3 closes.(Brief Article)
February 1, 2006... * Baronsmead VCT 3 plc, managed by ISIS Equity Partners and marketed by F&C, has closed oversubscribed and has issued the final tranche of the 24 million C shares at 100 pence per share. The issue, which was oversubscribed, is the first VCT in...

650m [euro] raised for CE.(FUNDS)(Mid Europa Partners)(Brief Article)
February 1, 2006... * Mid Europa Partners, formerly I known as EMP Europe, has reached a final close of 650m [euro] on its second fund, Emerging Europe Convergence Fund II, making it the largest fund of its kind in Central Europe. The fund was launched in May 2005...

Duke Street on fund six.(Duke Street Capital hires Charlie Troup )(Brief Article)
February 1, 2006... Duke Street is in fund raising mode for its sixth fund, DSC VI, looking for 850m [euro]. The firm has recruited former Permira partner Charlie Troup to assist in the fund raising process. Troup will join Duke Street later this month and...

Vestar closes on $3.7bn.(Vestar Capital Partners L.P.)(Brief Article)
February 1, 2006... * Vestar Capital Partners has reached a final close on its latest private equity fund, Vestar Capital Partners V, LP, with total commitments of $3.7bn. Approximately 130 institutional investors are participating in Vestar V, including public...

HitecVision energy fund close.(FUNDS)(Brief Article)
February 1, 2006... * HitecVision Private Equity, a private equity firm focusing on the energy sector, has closed its new fund, HitecVision Private Equity IV with capital commitments totalling US$283m, exceeding its original target of US$200m. The fund will...

London Asia launches Chinese fund.(London Asia Capital )(Brief Article)
February 1, 2006... * London Asia Capital has launched a 50m [pounds sterling] fund targeting opportunities in China. London Asia Chinese Private Equity Fund will seek an AIM listing in the coming months, and will focus on Chinese business in need of capital in...

Carapelli falls into Spanish hand; Italian olive oil brand Carapelli Firenze SpA has been sold to Spanish food group SOS Cuetara for 132.5m [euro], which also includes debt of 36m [euro]. The Florentine brand will join SOS Cuetara's oil and olives stable of products, which include the Carbonell and Koipe brands.(EXITS)
February 1, 2006... The deal is an exit for majority shareholder BS Private Equity (57.2%) and co-investors Arca Impresa Gestioni (21.79%), Arca Merchant (5.45%) and MPS Venture (13.62%.) Carapelli's management is also selling the remaining 1.95% of the business....

Punch buys Spirit.(Punch Taverns PLC, Spirit Group (UK))(Brief Article)
February 1, 2006... Punch Taverns has fought off fierce competition to acquire Spirit Group to become the largest pub operator in the UK. Spirit, which is owned by Blackstone, CVC, Merrill Lynch Private Equity and Texas Pacific, has reached an agreement with...

UK IPOs up by 64% since 2003.(EXITS)
February 1, 2006... The number of UK IPOs has increased by 64% over the last two years, according to new research by All IPO, an online IPO platform for private investors. From November 2003 to October 2005 the annual number of companies listing on the London...

BC reduces C&C stake.(EXITS)
February 1, 2006... BC Partners has sold 7% of its interest in Irish drinks and snacks company C&C, realising 115m [euro]. In total the buyout house sold 23 million shares, to reduce its stake in the business to 8.6%, at 5 [euro] per share, more than double the...

Door sells Vest-Wood.(Door Holding)(Brief Article)
February 1, 2006... Door Holding, a private equity-backed company, has sold Vest-Wood, a Danish door manufacturer and supplier, to US rival JELD-WEN, for an undisclosed price. Door is owned by Danish firms Axcel and Polaris as well as Swiss firm LODH Private...

Mappin & Webb goes to Baugaur.(EXITS)
February 1, 2006... Icelandic investor Baugur has acquired Mappin & Webb (MW Group) from European Acquisition Capital (EAC) in a secondary buyout transaction with a view to merging the business with its portfolio company Goldsmiths. The value of the transaction is...

Sagard acquires Souriau.(Souriau et Cie.)(Brief Article)
February 1, 2006... AXA Private Equity has sold its majority stake in Souriau to Sagard for an undisclosed sum. The Souriau management team, led by Francois Calvarin, will make a significant investment in the secondary buyout, which is being financed by a debt...

Vestar in Nybron secondary.(Vestar Capital Partners L.P. acquires Nybron Flooring International from Nordic Capital Funds and HIAG Group of Switzerland)(Brief Article)
February 1, 2006... Vestar Capital Partners is acquiring Swiss-based Nybron Flooring International from HIAG and Nordic Capital Funds in a secondary buyout transaction. Financial details of the transaction were not disclosed. Based in Jona, Switzerland, Nybron...

Carlyle and Providence buy Com Hem.(Carlyle Group L.P., Providence Equity Partners Inc.)(Brief Article)
February 1, 2006... The Carlyle Group and Providence Equity Partners are to acquire Swedish cable TV operator Com Hem from EQT in a secondary buyout transaction. Financial details of the deal were not disclosed. EQT bought Com Hem from TeliaSonera in June 2003...

Partial exit for Kleinwort.(Ramesys sells its education business to Lloyds TSB Development Capital, Kleinwort Capital Ltd.)(Brief Article)
February 1, 2006... Kleinwort Capital portfolio company, Ramesys, a UK IT provider, has agreed to sell its education business to LDC (formerly Lloyds TSB Development Capital). No financial details of the transaction or proceeds of the sale were disclosed. ...

3i sells Carix to Pemco.(3i Group PLC)(Brief Article)
February 1, 2006... UK-based Carix, which supplies car care products such as screen wash and antifreeze, has been sold to Norwegian firm Pemco AS for an undisclosed sum. The deal was arranged by Bristol-based corporate finance boutique Momentum following a...

Nordic sells Anticimex to Ratos.(Nordic Capital)(Brief Article)
February 1, 2006... Nordic Capital is selling its stake in Swedish indoor environment services specialist Anticimex to private equity firm Ratos for 170m [euro]. Ratos is to invest between 64m [pounds sterling] and 80m [euro] in equity, and plans to continue...

Mid Europa Partners acquires Aster City Cable.(EXITS)
February 1, 2006... Lion Capital, acting as the adviser to the Hicks, Muse, Tare & Furst Europe Fund, LP, is to sell Aster City Cable, a provider of media and communication services in Poland, to a fund managed by Mid Europa Partners. Mid Europa Partners is the...

Safilo returns to the market.(EXITS)(Brief Article)
February 1, 2006... Safilo, the Italian eyeglasses maker and portfolio company of CSFB Private Equity, has floated on the Milan Stock Exchange with an opening share price of 4.90 [euro], giving it a market valuation of 1.4bn [euro]. The offering, which is at...

Apax and Goldman out of Kabel Deutschland.(Apax Partners Holdings Ltd., Goldman Sachs Capital Partners (London, England))(Brief Article)
February 1, 2006... Providence Equity Partners is to take sole ownership of Kabel Deutschland acquiring the entire shareholdings of Apax Partners and Goldman Sachs Capital Partners. Providence will assume 95% ownership alongside Kabel Deutschland management....

Ipsen IPO.(Ipsen (France) floats on Euronex)(Brief Article)
February 1, 2006... Ipsen, the French pharmaceutical company, has floated on Euronext in Paris, resulting in PAI Partners cutting its stake in the business from 4.97% to 2.3%. The company floated at 22.20 [euro] per share, giving it a market valuation of 1.84bn...

IK doubles money on VSM sale.(Industri Kapital sells VSM Group AB to Kohlberg Management 1V)(Brief Article)
February 1, 2006... Industri Kapital has agreed to sell VSM Group, a Swedish supplier of sewing machines, to Kohlberg Management 1V for 145m [euro]. The sale, which marks the end of IK's eight year long involvement in the company, has generated a 2x return for...

Dufry floats.(EXITS)(Brief Article)
February 1, 2006... Swiss duty free retailer Dufry, owned by Advent International, has floated on the Swiss Stock Exchange with an opening share price of CHF80 (C51), giving it a market valuation of CHF1.125bn (730m [euro]). Advent sold two million of its...

Bridgepoint sells Nocibe.(Bridgepoint Capital, TCR and ICG sells stake in Nocibe to Charterhouse Capital Ltd.)(Brief Article)
February 1, 2006... Bridgepoint, TCR and ICG are selling their stakes in French perfumery group Nocibe to Charterhouse Capital for around 500m [euro], a return of around three times the original amount invested. Xavier Dura, current CEO, and his management team...

ABN AMRO Capital makes gain on Puzzler.(John Leng & Co acquires Puzzler Media Ltd)(Brief Article)
February 1, 2006... ABN AMRO Capital has sold Puzzler Media Group to John Leng & Co, a subsidiary of the Dundee-based publishing group DC Thomson, and the existing management team, for an enterprise value of 85m [pounds sterling]. Puzzler Media was acquired in...

CBPE makes gain on Laybond.(Close Brothers Private Equity sells Laybond to Bostik Findley )(Brief Article)
February 1, 2006... Close Brothers Private Equity (CBPE) has sold Laybond to Bostik, the global adhesives and sealants company, for an undisclosed sum. The deal returned more than double CBPE's original investment of 7.4m [pounds sterling]. CBPE acquired Laybond...

Funcom floats.(EXITS)(Brief Article)
February 1, 2006... Funcom, a Norwegian venture-backed company that develops online games, has listed on the Oslo Stock Exchange, raising 25m [euro]. The company, which is backed by Nordic Venture Partners (through NVP II), Northzone Venture's fourth fund and...

Doncasters sold for 700m [pounds sterling].(Dubai Investment Corporation )(Brief Article)
February 1, 2006... Royal Bank of Scotland Equity Finance (RBEF) has sold its interest in Doncasters Group, a UK-headquartered maker of precision engineering components, for 700m [pounds sterling] to Dubai Investment Corporation (DIC). The management team of...

3i sells AC Hotels stake.(EXITS)
February 1, 2006... 3i has sold its 14.1% stake in AC Hotels, a Spanish hotel group, for 45m [euro] to the Cosmen family, the founders of the country's largest coach operator Alsa. This investment dates back to 1999 when 3i provided 13.5m [euro] of growth capital...

3i triples return on Warren sale.(3i Group PLC, Warren and Sons)(Brief Article)
February 1, 2006... 3i has sold its minority stake in A Warren & Sons, a British industrial products supplier, generating a 3.3x return and an IRR of 22% in the 14m [pounds sterling] deal with BSS Group. BSS, a UK distributor of heating, plumbing and pipeline...

PPM Capital sells Upperpoint.(Upperpoint Distribution Limited)(Brief Article)
February 1, 2006... PPM Capital is selling Upperpoint Distribution Limited (UDL), a CCIV distributor, to Close Brothers Private Equity (CBPE) for 128m [pounds sterling] in a secondary buyout transaction, subject to regulatory approval. CBPE is backing the...

ABN sells Italian hospital group.(ABN AMRO Capital, Humanitas, Techint Group )(Brief Article)
February 1, 2006... ABN AMRO Capital has sold its 15% interest in Humanitas, an Italian private hospital business, to existing shareholders Techint Group and Centrobanca. The fund acquired its stake in July 2002 through ABN AMRO Ventures, from a consortium of...

BioAlliance IPO.(EXITS)
February 1, 2006... BioAlliance, a French biopharma company backed by a host of VCs, has floated on Euronext's Eurolist Paris. With a share price of 13.30 [euro], the IPO was priced in the middle of its indicative range of 12.40 [euro] to 14.20 [euro], raised 30m...

Deutsche Beteiligungs exits SAF.(Soudure Autogene Francaise)(Brief Article)
February 1, 2006... Deutsche Beteiligungs AG and DBAG Fund IV have sold Otto Sauer Achsenfabrik (SAF), a German maker of axles and suspension systems for HGV trailers. The business was acquired by the management team of SAF, SAF founder Ulrich Otto Sauer and...

Advent sells Star Foods.(Advent International PLC, PepsiCo Light NV)(Brief Article)
February 1, 2006... Advent International has sold its stake in Poland's second largest snack foods producer, Star Foods Sp.zo.o to PepsiCo Light NV for an undisclosed sum. Advent International first invested in Star Foods in 1996, when the founding Mitzalis family...

Lehman Brothers and Ratos sells Tornet.(Lehman Brothers Real Estate Partners )(Brief Article)
February 1, 2006... Lehman Brothers Real Estate Partners (LBREP) and Ratos have agreed to sell their combined 82.4% holding in Tornet, a Swedish property company, to Fabege for SEK3.1bn (331m [euro]). No return details have been disclosed for the two-year...