European private equity performance figures bode well for those European buyout funds on the fundraising trail. General partners saw double-digit positive returns in the one-year time horizon through June 30, according to Thomson Reuters Private Equity Performance Index. Looking at the overall figures, European private equity performance posted positive returns across all but the 3-year [...]
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Astorg Partners, the French private equity shop, is planning to buy the microconnections unit of French electrical connectors maker FCI from Bain Capital, Reuters reported Wednesday. Astorg will reportedly finance the deal with 320 million euros ($436 million) in debt. The firm did not disclose the purchase price for the business unit.
French buyout shop Astorg Partners is in exclusive talks to buy the microconnections division of French electrical connectors maker FCI from Bain Capital. The $1 billion deal is backed by 355 million euros ($498.3 million) of debt, Reuters reported Thursday. Goldman Sachs, Nomura and Royal Bank of Canada have been instructed as bookrunners and mandated lead arrangers, Reuters wrote.
AXA Private Equity is paying around 500 million euros ($700 million), backed by 290 million euros of debt, to buy French optical component maker Photonis from Astorg Partners, Reuters reported Wednesday. AXA has already owned a majority of Photonis – holding the company from 2001-2008 before selling to middle-market firm Astorg. ING, Societe Generale Corporate & Investment Banking and IKB acted as mandated lead arrangers and underwriters on the debt financing, while Indigo Capital and Partners Group arranged the mezzanine facilities, Reuters wrote.
Buyout firm Charterhouse will buy French call-centre business Webhelp from Astorg Partners, Reuters reported, adding that Charterhouse had secured a 165 million euro ($238 million) loan to help fund the deal. The loan was arranged by Bank of Ireland and Citigroup, Reuters reported. Astorg bought a controlling stake in Webhelp in June 2007 from Barclays Private Equity, which remained a minority shareholder in the business.
European middle-market buyout shop Astorg Partners has closed its latest fund, Astorg V, with 1.05 billion euro ($1.5 billion). The fund closed roughly 30% above its original 800 million euro target. Forty four limited partners invested in the fund, including 25 who are new to Astorg. The firm did not disclose the names of investors, but said that LPs incude pension funds, insurance companies and sovereign wealth funds. Astorg Partners is based in Paris.
The Onduline Group, which is owned by a company backed by French private equity firms Astorg Partners and Abenex, has bought Tallant, a lightweight roofing company based in Texas. Onduline also manufactures lightweight roofing, and was founded in Paris in 1950. The details of the deal were not revealed.
CALGARY (Reuters) – Schlumberger Ltd (SLB.N) is buying French drilling analysis firm Geoservices for just over $1 billion, further consolidating a sector that is grappling with flat energy demand and weakened margins. The world’s largest oilfield services company, just a month after its deal for rival Smith International, said on Wednesday it was buying Geoservices [...]
Astorg Partners has agreed to sponsor a leveraged recap of French insurance broker Gras Savoye & Cie, in partnership with current Gras Savoye shareholder Willis Group Holdings Ltd. (YSE: WSH). Astorg would receive 33% of voting rights in Gras Savoye, which is being valued at$343 million.