European Venture Capital Journal articles from October 2006

European Venture Capital Journal archives from October 2006

Public-to-private: private equity players fish for talent in the pink stock listings.(EDITOR'S NOTE)(Editorial)
October 1, 2006... Private equity houses have, for some time now, been attractive places for retired CEOs to keep busy. GE's Jack Welch and IBM's Lou Gerstner are both active in the industry at Clayton Dubilier & Rice and Carlyle respectively. But recently there...

White gold: the 7bn [pounds sterling] buyout of Thames Water looks certain while Israel's Mekorot leads the sector in venture capital incubation.(NEWS ANALYSIS)
October 1, 2006... Water, water everywhere and not a drop to drink. This lament from The Rime of the Ancient Mariner by Samuel Taylor Coleridge struck a chord with many Europeans in heat wave of 2006. A period of exceptionally hot weather arrived at the end of...

Israel's national sport: the country is, by far, Europe's most active venture capital market.(NEWS ANALYSIS)
October 1, 2006... Israel leads the world in private equity investments if considered as a percentage of GDP. And the country bucks the trend for buyouts that is engulfing most of Europe at the moment by continuing to pour money into venture capital. The...

Cable ride: Private equity firms switch onto cable operators.(NEWS ANALYSIS)
October 1, 2006... NTL, UPC France, UPC Sweden, Casema: all names to have hit the headlines in the last few months and all perfect examples of private equity's love affair with cable operators. US firms have become particularly enamoured, demonstrating a...

When markets collide: European issuers raised US$13bn from US investors so far this year. How will this cash influence terms.(NEWS ANALYSIS)
October 1, 2006... As well as the flow of institutional and private equity money from the US to Europe, another phenomenon has been taking place, one that has been quietly and quickly gathering pace, and one that could have a significant impact on the future of...

Pomp and circumstances have changed: where the US once reigned supreme in capitalising on university spin-outs, Europe is now getting its own back.
October 1, 2006... Angle, a venture capital firm specialising in technology, signed a 20-year strategic partnership with the University of Reading that will give the company the exclusive right of first refusal to invest in all university intellectual property...

The false funding gap.(NEWS ANALYSIS)(Brief article)
October 1, 2006... The funding gap has for years been regarded as almost immovable by early-stage technology companies and the major reason why start-ups and university spin-outs in the UK struggle so bitterly to raise money. But as an excuse, this is looking...

Seventy percent increase in European market: France is the hottest spot while the UK is out in the cold.(BUYOUTS)
October 1, 2006... While the European buyout market has seen an increase of 70% over last year, the UK has fallen some way behind. Continental Europe's buyout transactions totalled 55.3bn [euro] for the first half of 2006, while the UK's portion of that figure...

Recaps dangerous: warning against private equity firms paying out dividends using debt.(DEFAULT RISKS)
October 1, 2006... UK ratings agency Standard & Poor's has criticised private equity firms for recapitalisations, arguing that piling on the debt damages credit quality and could increase default rates. In two reports, S&P looks at the current trend within...

Industry rep: huge numbers apply.(VCTS)(Brief article)
October 1, 2006... Venture Capital Trusts (VCTs) are to receive industry representation from the Association of Investment Trust Companies (AITC) following applications to join the organisation from 70 VCTs. This number represents 78% of the VCT sector by...

German institutions late to the PE party: regulatory changes prompt an influx of money.(ASSETS)
October 1, 2006... German institutional investors have already begun responding to private equity legislation allowing onshore funds to return to Germany which is set to go into effect in January 2007. In fact, institutions such as pension funds, insurance...

Gilde fund hits 600m [euro] after leaving Rabobank: LPs seeking more non-UK exposure.(CLOSURE)
October 1, 2006... Dutch private equity investor Gilde Investment Management has closed its third buyout fund, the first since the firm spun out year. Gilde Buy Out Partners raised and will focus on investments in the Benelux, and French and German speaking...

Overcoming J-curve concerns: mezzanine funds add liquidity.(FUND-OF-FUNDS)
October 1, 2006... The barriers to debuting as a private equity investor may well be cultural in many cases but the long-term investment perspective is just too long dated for some institutions keen to generate shorter-term yields on their capital. Investing...

Borrowers and sponsors face brave new world: rise in new lenders has changed rules in distressed situations.(collateralized loan obligations)(Brief article)
October 1, 2006... The influx of CLOs and hedge funds into the leveraged loan market threatens to alter fundamentally the nature of the relationship between the borrower and the lender. New Close Brothers' research shows that the size of the European...

Tough times for private equity: unreasonable price expectations hinder deal completion.(RESEARCH)
October 1, 2006... The scramble for assets is increasing, forcing private equity firms to work harder for the best deals according to a report released by consultancy firms Marsh, Mercer Human Resource Consulting, and Kroll. The survey of 100 private equity...

Advent targets pharma: ex-Biofocus CEO heads new company.(LAUNCH)(Speciality European Pharma)(Brief article)
October 1, 2006... Advent Venture Partners has formed a new company focused on buying specialty pharmaceutical prescription products for development and marketing in Europe. The company, called Speciality European Pharma, is headed up by Geoff McMillan,...

Private banks double allocations: PE increases to 10% of client portfolios.(INVESTORS)(Brief article)
October 1, 2006... Three years ago most private banks were suggesting their clients to allocate no more than 5% of their portfolios to private equity, with just a third recommending a higher commitment. According to a report by Hotbed, a London-based small cap...

US firm sells to French rival: AXA Private Equity backs chemicals group buyout.(SECONDARY)(Company overview)
October 1, 2006... AXA Private Equity has backed the buyout of French specialty chemical group Eliokem from midmarket US private equity firm Littlejohn & Co for approximately 130m [euro]. Founded in 2001, Eliokem is the result of the spin-off of the...

Close Growth Capital race away with exit: UK racing car equipment maker sold back to management.(MANAGEMENT SALE)
October 1, 2006... Goodridge UK, a supplier of hose and fittings to the car and motorcycle racing industry, has reamed to the ownership of the management team after debt and equity provider Close Growth Capital (CGC) sold its stake. CGC, which is an...

Dunedin takes on powerful players.(SECONDARY MBO)(Dunedin Capital Partners Ltd.)(Brief article)
October 1, 2006... Capula is bought for 30m [pounds sterling] Dunedin Capital Partners led the secondary management buyout of Capula from Bridgepoint. Dunedin backed the management team led by CEO Roger Turner in a transaction valued at 30m [pounds sterling]. The...

DIC's 675m [pounds sterling] hotel bill: Permira sells Travelodge.(SECONDARY)(Dubai International Capital L.L.C.)
October 1, 2006... Dubai International Capital (DIC) acquired UK-based Travelodge Hotels, Britain's fastest growing hotel company for 675m [pounds sterling] from the Permira Funds. The acquisition is expected to complete in late September. Permira bought...

3i makes juicy exit: Refresco sale to an Icelandic consortium sees 116m [euro] profit.(SECONDARY)
October 1, 2006... 3i has sold its stake in Refresco, a private label soft drinks and fruit juice manufacturer, to an Icelandic consortium consisting of Kaupthing Bank, FL Group and Vifilfell Bottling Group for 463m [euro]. The deal generated a 116m [euro]...

Brue ends Carl Bro investment: Danish engineering firm bought by Grontmij.(TRADE SALE)(Brief article)
October 1, 2006... Swedish private equity firm Brue Equity has signed an agreement to sell its shares in Carl Bro to the Dutch engineering consultancy Grontmij. The deal will see Grontmij own 98.86% of Carl Bro for 137m [euro] in cash plus 400,000 newly issued...

Advents dough: profits on bakery sell.(TRADE SALE)(Advent International Corp.)(Brief article)
October 1, 2006... Advent International and its Turkish investment partner, Turkven Private Equity, have sold their 50% holding in Turkish packaged bread producer, Unmasto Doruk, a Turkish flour milling and bakery ingredients business for US$18m. Doruk has been...

High-flying exit for 3i: UK firm sells Swiss aerospace business for 1bn [euro].(TRADE SALE)
October 1, 2006... 3i has sold SR Technics to a consortium of investors based in the United Arab Emirates in a 1bn [euro] deal. The acquisition has been carried out by Abu Dhabi-based Mubadala Development and Dubai Aerospace Enterprise and Istithmar both...

Manchester-based head hunter turns a profit: NES exit yields 2x return for Bridgepoint.(SECONDARY)(NES Group)(Brief article)
October 1, 2006... Bridgepoint has doubled its money in the sale of NES Group, a UK recruitment business, to rival mid-market firm Graphite Capital in an 86m [pounds sterling] management buyout. Also selling their stake are NES' founders, Geoff Lloyd and...

Endless nails DIY exit: second exit in two months.(TRADE SALE)(Endless)(Brief article)
October 1, 2006... Leeds based private equity firm Endless has made its second exit in as many months with the sale of portfolio company GlynWebb, a UK DIY retailer, to a consortium of businessmen for an undisclosed sum. Endless sold Encanta Media Limited, a UK...

Innova polishes off loan broke: Polish firm sells stake.(TRADE SALE)(Dom Finansowy QS)(Brief article)
October 1, 2006... Polish private equity firm Innova Capital has sold its interest in loan broker Dom Finansowy QS (DF QS) to LaSer, a French finance group. Innova 3, the firm's 110m [euro] fund, invested in the business at the end of 2004, taking a 75%...

Good PR for Advent: Financial Dynamics sold in largest PR acquisition ever.(TRADE SALE)
October 1, 2006... Boston-headquartered private equity investor Advent International has sold Financial Dynamics (FD) to Baltimore-based FTI Consulting, a US business consultancy, for 201m [euro], the highest ever sum paid for a public relations outfit. The...

Sales electric: Industri Kapital sells F Group to PC World owner.(TRADE SALE)(Brief article)
October 1, 2006... Mid-market firm Industri Kapital has sold its 40% investment in F Group, a Danish electrical goods retailer for 23.5m [euro] to DSGi, the owner of PC World and Dixons. F Group was formed in June 2001 when Industri Kapital's portfolio...

Argus reels off Svoboda Press: CEE fund makes 3.9x return.(TRADE SALE)(Argus Capital Partners)
October 1, 2006... Argus Capital Partners, the London-headquartered Central and Eastern Europe private equity investor, has made a 3.9x money multiple on its sale of Czech commercial printer company Svoboda Press. The buyers, EuroDruck Services, is the...

Doughty ends Umbro investment: PE firm sells remaining shares in UK sporting goods company.(SHARE SALE)(Brief article)
October 1, 2006... Doughty HanSon has made a complete exit from UK football brand Umbro, more than two years after floating the company on the London Stock Exchange, selling its remaining 19% stake. JP Morgan Cazenove placed 26,750,000 shares at a price of...

PPM free of BST: WL Ross buys German airbag company.(TRADE SALE)
October 1, 2006... PPM Capital, the UK mid-market firm, has sold BST Safety Textiles, a German airbag manufacturer, to US private equity house WL Ross & Co for an undisclosed sum. BST, which is based in Maulburg near Lorrach (Baden-Wurtemberg), develops and...

Eastern expansion: as more European and US private equity houses take that giant leap east and build their portfolios in commercial centres form Bangalore to Beijing, fund-of-funds managers are faced with more choice but also the dilemma of how or if to allocate funds to those countries.(FUND-OF-FUNDS)
October 1, 2006... Although European fund-of-funds investors might be happy just to take some exposure to a European fund, the escalating needs for investment portfolio diversification and generating enhanced yields continue to shift a large part of market...

How clean is your company? It first evolved in the US but is now part and parcel of the European M&A market. Patrick McCurry looks at how attitudes differ across the pond.(ENVIRONMENTAL DUE DILIGENCE)(Industry overview)
October 1, 2006... Environmental risk and liability have been established as concepts for much longer in the US than in the European Union, emerging more than 20 years ago in North America, and are still a more integral part of the deal process there. But Europe...

Paper-only compliance: the challenge of EDD in Russia.(ENVIRONMENTAL DUE DILIGENCE)
October 1, 2006... Increased US and Western European investor interest in the former Soviet Union has created additional regulatory and cultural challenges for EDD practitioners. The main approach to environmental protection in Russia has been 'end-of-pipe' where...

Public worries: floating funds may be in vogue, but investors should be wary.(FUNDS COMMENT)
October 1, 2006... Another month and listed funds are making news again. The hype over the trend died down a few months ago when Apollo launched to an unenthusiastic reception, a lesson both Doughty Hanson and Partners Group would be wise to learn from. All...

Eastern European property fund: Charlemagne raises 30m [euro].(LAUNCH)(Brief article)
October 1, 2006... London-based, emerging market Charlemagne Capital, has raised 30m [euro] for a private equity fund focused on investing in Eastern Europe property. The fund, called the European Convergence Development Company (ECDC), intends to list on...

Partners float private equity: Swiss group to raise 400m [euro] on AIM.(LISTED FUND)
October 1, 2006... Partners Group is to list a 400m [euro] private equity fund-of-funds on London's Alternative Investment Market (AIM), with plans to increase to 750m [euro] depending on demand. The fund's strategy will be to invest in both private equity...

ARGUS beats target for second fund: CEE investor raises over 200m [euro] on second closing.(ARGUS Capital Partners)(Brief article)
October 1, 2006... ARGUS Capital Partners, the London-headquartered Central and Eastern European private equity fund, has exceeded its 200m [euro] target for its second fund, raising 213m [euro] at its second closing for ARGUS Capital Partners II. The bulk...

Amsterdam's Euronext home to Doughty Hanson: group aims to raise 1bn [euro] in public market.(Doughty Hanson and Company Ltd.)
October 1, 2006... Doughty Hanson & Co will list Doughty Hanson & Co Investments L.R Incorporated, on Eurolist by Euronext. The publicly-listed vehicle will invest primarily in Doughty Hanson's private equity, real estate and technology funds as a limited...

NORD banks on smaller investors: wider access to German mid-market companies.(LAUNCH AND CLOSURE)(Brief article)
October 1, 2006... German fund-of-funds NORD Holding has launched a 250m [euro] fund, simultaneously announcing a first close of (188m with investments from savings banks and pension funds, as well as parent NORD/LB, the investment bank. The fund will focus...

Alpha tops 100m [euro] for CEE II: 300m [euro] goal for latest vehicle.(Alpha Associates closing its Alpha CEE II)(Brief article)
October 1, 2006... Alpha Associates, a Switzerland-based private equity fund-of-funds manager, has reached a first closing on Alpha CEE II, its second vehicle investigating in Central and Eastern Europe. The fund raised 109m [euro], and is on course to meet...

What's in a name? Marc Mogull raises 335m [euro] on the back of his Doughty Hanson reputation.(Benson Elliot Capital Partners )
October 1, 2006... The recent closure of the Benson Elliot Real Estate Partners II fund, (BEREP), marks a return to the European investment scene for Marc Mogull, founder and former head of Doughty Hanson & Co European Real Estate. BEREP closed in mid-September...

Barber leaves Helix Associates.(PEOPLE)(John Barber)(Brief article)
October 1, 2006... John Barber, the managing director of placement agents Helix Associates, will join Bridgepoint as a partner leading the firm's investor services team, taking over from the retiring Graham Dewhirst. Barber, who will arrive in January 2007, will...

Sparshott now at Deloitte.(PEOPLE)(Ian Sparshott)(Brief article)
October 1, 2006... Deloitte hired Ian Sparshott, previously an insurance partner at Mazars, as a new partner in its UK insurance industry team. Sparshott brings over 12 years' experience in advising insurers on corporate finance deals, from IPOs to broker...

Edgar joins Wood and Bowers.(PEOPLE)(Benjamin Edgar)(Brief article)
October 1, 2006... CVC Cordatus recruited Benjamin Edgar from Alcentra, a UK-headquartered asset management and investment group where he was responsible for managing a TMT loan portfolio. Prior to Alcentra, he worked at Deutsche Bank, where he spent five years...

3i's Dunne is charity man.(PEOPLE)(Brief article)
October 1, 2006... Patrick Dunne, 3i's communication officer, has been installed as chairman of Leap, a UK-based charity specialising in conflict resolution for young adults. The organisation equips young people and schools with the tools and skills to deal with...

Cognetas in Italy.(PEOPLE)(Brief article)
October 1, 2006... UK mid-market firm Electra Partners Europe has rebranded itself Cognetas.The firm is also opening an office in Milan headed by Maurizio Bianco, formerly of Euromobiliare Private Equity. He will be joined by two others in due course. Cognetas...

Ex-Cisco M&A chief heads to Fidelity.(PEOPLE)(Baruk Pilo)(Brief article)
October 1, 2006... Baruk Pilo, the former manager of Cisco Systems' European M&A team, has joined Fidelity Ventures as a partner in its London office. He will focus on investment opportunities in the IT and communications sectors. As manager in Cisco's European...

Baird joined by Hall and Coote.(Dennis Hall and Simon Coote joins Baird Capital Partners Europe)(Brief article)
October 1, 2006... UK mid-market firm Baird Capital Partners Europe has expanded its UK team to 14 with the addition of two new members. Dennis Hall joins from Harris Watson Holdings. With over 20 years of relevant operational and financial experience he will...

Mezzanine hires two in London.(PEOPLE)(Mezzanine Management)(Brief article)
October 1, 2006... UK mezzanine and private equity firm Mezzanine Management has appointed Bal Johal and Ian Wallis as directors, based in the London office. Both Johal and Wallis were formerly investment directors at 3i. Johal joined in 1996 and Wallis in 1999,...

Imperial's double hire: biomedical entrepreneur.(EARLY STAGE)(Brief article)
October 1, 2006... Imperial Innovations Group, Imperial College London's technology transfer and commercialisation company, has named David Bowman, manager of biology operations and external outreach at Lilly, the pharmaceutical company, as...

All access: Geneva-based Unigestion on fund raising levels and the impact on returns.(Hanspeter Bader)(Interview)
October 1, 2006... Unigestion is one of Europe's leading asset managers, with an investment strategy that spans both the private and public markets. Established in 1971, the firm has 6.8bn [euro] in assets under management with 1.4bn [euro] committed to private...

The eagle has landed: European LPs scramble for capacity as American assets wash across the pond.(limited partnerships)
October 1, 2006... Only a few years ago, many European general partners were lucky if they were able to raise their funds in under a year. These days, many claim to be over-subscribed in a matter of weeks. To a certain extent, some of this is marketing--the more...

Changes afoot: German private equity regulation being reformed. But will GPs take note?(LEGAL AND REGULATORY)
October 1, 2006... Out of 21 major European countries, Germany ranks a disappointing 18th in its private equity framework provisions, according to the European Venture Capital Association (EVCA). However, the new German coalition government has recognised the...

The UBGG explained: the law in its current state and the proposed changes.(LEGAL AND REGULATORY)
October 1, 2006... The UBGG (Unternehmensbeteiligungsgesellschftsgesetz) first came into force in 1986 and has been amended several times since. Its objective was to foster and improve the equity base of German medium-sized enterprises by making investments...

European PE outstrips US: over US$14bn returned to LPs.(PERFORMANCE)
October 1, 2006... Investors in European private equity saw their coffers swell by 32% in 2005 as US$14.5bn was returned to them according to research published by Swiss fund-of-funds manager Strategic Capital Management (SCM). The figure is an even more...

UK on downward slope as Europe trends upward: France takes top spot.(BUYOUTS)
October 1, 2006... These tables show how the UK buyouts market has continued its downward trend since the second half of 2004, and how Continental Europe has pursued its upward swing to the highest ever total deal value since CMBOR started tracking European...

All3Media.(LBO SYNDICATIONS ARRANGED SEPTEMBER)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 31/07/06 DEAL TYPE: LBO ACQUIRER (S): PERMIRA TOTAL VALUE: 320M [pounds sterling] MANDATED ARRANGER(S): BANK OF SCOTLAND AND RBS FINANCING: 237M [pounds sterling] Bookrunners...

Associated British Ports.(Admiral Acquisition UK Ltd. acquired Associated British Ports )(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 12/08/06 DEAL TYPE: PUBLIC TO PRIVATE ACQUIRER(S): ADMIRAL ACQUISITIONS UK TOTAL VALUE: 2.8BN [pounds sterling] MANDATED ARRANGER (S): BARCLAYS, DEXIA, GOLDMAN SACHS AND RBS ...

Azzuri.(LBO SYNDICATIONS ARRANGED SEPTEMBER)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 07/06/06 DEAL TYPE: MBO ACQUIRER(S): PPM CAPITAL TOTAL VALUE: NOT KNOWN MANDATED ARRANGER (S): BANK OF SCOTLAND AND BARCLAYS BANK FINANCING: 120M [pounds sterling] Azzuri...

Capio.(Apax Partners' and Nordic Capital's acquired Capio)(Brief article)
October 1, 2006... TARGET NATION: SWEDEN DATE ANNOUNCED: 01/09/06 DEAL TYPE: LBO ACQUIRER(S): APAX AND NORDIC CAPITAL TOTAL VALUE: 1.6BN [euro] MANDATED ARRANGER(S): BANK OF SCOTLAND AND BARCLAYS FINANCING: UNKNOWN Bank of Scotland...

Casema.(Cinven and Warburg Pincus acquired Casema)
October 1, 2006... TARGET NATION: NETHERLANDS DATE ANNOUNCED: 18/07/06 DEAL TYPE: MEZZANINE ACQUIRER(S): CINVEN AND WARBURG PINCUS TOTAL VALUE: 2.85BN [euro] MANDATED ARRANGER(S): ABN AMRO, CREDITSUISSE, GOLDMAN SACHS, ING AND MORGAN...

Elior.(Bercy Investissement acquired Groupe Elior )(Brief article)
October 1, 2006... TARGET NATION: FRANCE DATE ANNOUNCED: 27/06/06 DEAL TYPE: LBO ACQUIRER(S): BERCY INVESTISSEMENT TOTAL VALUE: UNDISCLOSED MAN DATED ARRANGER (S): CALYON, MERRILL LYNCH AND MORGAN STANLEY FINANCING: 1.97BN [euro] ...

Gartmore.(LBO SYNDICATIONS ARRANGED SEPTEMBER)(Hellman and Friedman)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 26/05/06 DEAL TYPE: MBO ACQUIRER(S): HELLMANN & FRIEDMAN TOTAL VALUE: 500M [pounds sterling] MAN DATED ARRANGER(S): GOLDMAN SACHS AND HSBC FINANCING: 310M [pounds sterling] ...

House of Fraser.(Baugur acquired House of Fraser)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 24/08/06 DEAL TYPE: LBO ACQUIRER(S): BAUGUR TOTAL VALUE: 764M [pounds sterling] MANDATED ARRANGER(S): BANK OF SCOTLAND AND GLITNIR FINANCING: 584M [pounds sterling] Bookrunners...

M+W Zander.(Springwater Capital acquired M and W Zander Holding )(Brief article)
October 1, 2006... TARGET NATION: GERMANY DATE ANNOUNCED: 10/05/06 DEAL TYPE: LBO ACQUIRER(S): SPRINGWATER CAPITAL TOTAL VALUE: 350M [euro] MAN DATED ARRANGER(S): LBBW FINANCING: AS BELOW M+W Zander Holding has closed the 310m...

Mayborn.(3i Group PLC acquired Mayborn )(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 26/05/06 DEAL TYPE: LBO ACQUIRER(S): 31 TOTAL VALUE: 137M [pounds sterling] MAN DATED ARRANGER(S): BARCLAYS FINANCING: 92.5M [pounds sterling] UK baby and household products...

Metroweb.(Stirling Capital Partners acquired Metroweb)(Brief article)
October 1, 2006... TARGET NATION: ITALY DATE ANNOUNCED: 04/08/06 DEAL TYPE: MBI ACQUIRER(S): STIRLING CAPITAL TOTAL VALUE: 230M [euro] MANDATED ARRANGER(S): ING FINANCING: 195M [euro] Stirling Capital Partners has mandated ING to...

Paroc.(Brief article)
October 1, 2006... TARGET NATION: FINLAND DATE ANNOUNCED: 21/06/06 DEAL TYPE: LBO ACQUIRER(S): ARCAPITA TOTAL VALUE: 620 [euro] MANDATED ARRANGER(S): ING FINANCING: 545M [euro] Mandated lead arranger ING is out with the circa 545m...

Sportgroup.(Industri Kapital acquisition)(Brief article)
October 1, 2006... TARGET NATION: GERMANY DATE ANNOUNCED: 23/03/06 DEAL TYPE: SECONDARY ACQUIRER(S): INDUSTRI KAPITAL TOTAL VALUE: UNDISCLOSED MANDATED ARRANGER(S): DRESDNER KLEINWORT FINANCING: 179M [euro] Mandated lead arranger...

Time Partner.(Investcorp acquired Time Partner)(Brief article)
October 1, 2006... TARGET NATION: GERMANY DATE ANNOUNCED: 28/07/06 DEAL TYPE: LBO ACQUIRER(S): INVESTCORP TOTAL VALUE: 250M [euro] MAN DATED ARRANGER(S): HVB FINANCING: 215M [euro] German temping agency Time Partner has launched a...

Travelodge.(LBO SYNDICATIONS ARRANGED SEPTEMBER)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 22/08/06 DEAL TYPE: SECONDARY LBO ACQUIRER(S): DUBAI INVESTMENT CORP TOTAL VALUE: 675M [pounds sterling] MANDATED ARRANGER(S): BARCLAYS AND RBS FINANCING: 500M [pounds sterling] ...

Worldwide Flight Services.(Brief article)
October 1, 2006... TARGET NATION: US DATE ANNOUNCED: 08/08/06 DEAL TYPE: LBO ACQUIRER(S): LBO FRANCE TOTAL VALUE: 315M [euro] MANDATED ARRANGER(S): CIBC AND ING FINANCING: 200M [euro] LBO France has mandated CIBC and ING to support...

Private equity-backed IPOS in July & August 2006.(LBO SYNDICATIONS ARRANGED SEPTEMBER)(Table)
October 1, 2006... PRIVATE EQUITY-BACKED IPOS IN JULY & AUGUST 2006 Date of original investment Issuer Backers Oct-04 Cineworld Blackstone Sep-02 Ferretti Permira Jan-03 Fraikin ...

Aksys.(Brief article)
October 1, 2006... TARGET NATION: GERMANY DATE ANNOUNCED: 07/09/06 SPONSOR (S): DEUTSCHE BETEILIGUNGS, AXA PRIVATE EQUITY, PPM, SUED PRIVATE EQUITY MANDATED ARRANGER(S): DRESDNER KLEINWORT FINANCING: 150M[euro] German automotive supplier,...

Firth Rixson.(REFINANCINGS)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 08/09/06 SPONSOR(S): CARLYLE MANDATED ARRANGER(S): LEHMAN BROTHERS FINANCING: 430M [pounds sterling] The deal is split into a 30m [pounds sterling] seven year revolver paying 225bp over...

Jack Wolfskin.(REFINANCINGS)(Brief article)
October 1, 2006... TARGET NATION: GERMANY DATE ANNOUNCED: 12/09/06 SPONSOR(S): QUADRIGA CAPITAL MANDATED ARRANGER(S): DRESDNER KLEINWORT FINANCING: UNKNOWN Dresdner Kleinwort is mandated to arrange a recapitalisation of Jack Wolfskin, a...

KSM Castings.(Cognetas receives dividend)(Brief article)
October 1, 2006... TARGET NATION: GERMANY DATE ANNOUNCED: 07/09/06 SPONSOR(S): COGNETAS MANDATED ARRANGER(S): DRESDNER KLEINWORT FINANCING: 181M [euro] The transaction will see Cognetas receive a dividend and will leave KSM Castings with a...

Pets At Home.(REFINANCINGS)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 21/07/06 SPONSOR(S): BRIDGEPOINT MANDATED ARRANGER(S): BNP PARIBAS, RBS FINANCING: 288M [pounds sterling] Pets at Home has closed its 288m [pounds sterling] refinancing through mandated...

Prysmian.(REFINANCINGS)(Brief article)
October 1, 2006... TARGET NATION: ITALY DATE ANNOUNCED: 28/06/06 SPONSOR(S): GOLDMAN SACHS PRIVATE EQUITY MANDATED ARRANGER(S): GOLDMAN SACHS, JPMORGAN AND LEHMAN BROTHERS FINANCING: 450M [euro] Prysmian (formerly Pirelli Cables) has wrapped...

Saga.(REFINANCINGS)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 17/07/06 SPONSOR(S): CHARTERHOUSE MANDATED ARRANGER(S): BANK OF SCOTLAND, MERRILL LYNCH AND MIZUHO CORPORATE BANK FINANCING: 500M [pounds sterling] Saga has received a 100% hit rate on...

Weetabix.(REFINANCINGS)(Brief article)
October 1, 2006... TARGET NATION: UK DATE ANNOUNCED: 28/07/06 SPONSOR(S): LION CAPITAL MANDATED ARRANGER(S): JPMORGAN FINANCING: 617.6M [pounds sterling] Weetabix completed its 617.6m [pounds sterling] recapitalisation. The facility is...