EnServe Sells Inenco Group to Vitruvian Partners

EnServe Group, an energy and utility outsourcing business owned by Cinven, has sold its energy division, Inenco Group, to funds managed by Vitruvian Partners, management and Intermediate Capital Group. UK-based Inenco Group services are provided through three specialised brands Inenco, Inenco Direct and NIFES.

Rockwood to Sell CeramTec to Cinven

Rockwood Holdings is to sell CeramTec, its advanced ceramics business to Cinven for 1.49 billion euros ($1.98 billion) subject to customary adjustments. CeramTec, headquartered in Plochingen, Germany, is a global producer of high performance advanced ceramics materials and products.

Cinven Closes Fifth European Buyout Fund

European private equity firm, Cinven has exceeded its target and held a final close for its Fifth European Buyout Fund at 5.3 billion euros ($7.1 billion). The fund has already made investments in three businesses – two business services companies, Pronet and Prezioso, based in Turkey and France, respectively; and UK-based healthcare business, AMCo.

Reuters – Cinven, Finmeccanica Draw Offers for Avio Spazio

Italian defense group Finmeccanica and private equity fund Cinven will get at least five offers for satellite propulsion system unit Avio Spazio, writes Reuters. French groups Safran and Thales, French-German consortium EADS and two unnamed operators from Germany and the United States will submit preliminary offers for the company by the end of June, business daily Il Sole said, writes Reuters.

Reuters – Partnership Assurance Group London Float

Partnership Assurance Group is to float on the London Stock Exchange, writes Reuters. Owned by private equity firm Cinven since 2008, the life insurer generated profit of 112 million pounds ($171.97 million)in 2012 and claims a 26 percent share of the 4.5 billion pound non-standard annuities market in Britain.

exit

Private Equity Firms Exit Ziggo

Private equity firms Cinven and Warburg Pincus and co-investors completed their exit from Dutch cable firm Ziggo on Friday in a placement of their remaining holdings for about 875 million euros ($1.14 billion).

Cinven Exits Ziggo, Realizes €329 million Gross Proceeds

Cinven, a European PE firm, said Friday it has sold its remaining stake in Ziggo and realized €329 million (US$428.4 million) of gross proceeds. Ziggo, which listed on NYSE Euronext in Amsterdam in March 2012, will have generated total proceeds of €1.7 billion for Cinven and a total money multiple of 2.8x. Ziggo is the largest cable operator in Netherlands.

Reuters Exclusive: Numericable’s PE Owners Weigh IPO

(Reuters) – Private equity owners of Numericable have asked about 10 banks to pitch on a possible stock exchange listing this year that could value the French cable company at around 4 billion euros ($5.3 billion), three people with knowledge of the plan said. Numericable is owned by CinvenCarlyle Group and Altice Group.

Cinven and Warburg Pincus Plan to Further Reduce Ziggo Stake

Cinven and Warburg Pincus are planning to further reduce their stake in Ziggo. They intend to sell around 40 million ordinary shares in Ziggo N.V. via an accelerated bookbuild resulting in a stake of approximately 17.1 percent in the Dutch provider of entertainment, information and communication.

Reuters – Cinven Reaches Target for Buyout Fund

European private equity firm Cinven has reached its 5 billion euro ($6.5 billion) target for its latest buyout fund, writes Reuters. Cinven counts cable operator Ziggo and aircraft leasing company Avolon among its investments.

Reuters – HgCapital Sells Mercury Pharma to Cinven

Investor HgCapital has sold British pharmaceutical company Mercury Pharma to private equity firm Cinven for $732 million, writes Reuters. HgCapital bought the 25-year-old pharmaceutical firm, which sells niche prescription off-patent products in the UK, Ireland and the Netherlands, in 2009.

Reuters – Italy’s Avio in Sale Talks Listing Hopes Fade

The private equity owners of Italy’s Avio are pressing ahead with talks to sell the airplane engine parts maker, as a planned listing looks less likely, writes Reuters. Avio is owned by BCV Investments, in which Cinven private equity has a majority stake. A consortium of buyers made up of private equity funds CVC Capital Partners and Clessidra, and state-backed Fondo Strategico Italiano, are now pushing ahead with talks to buy Avio, writes Reuters.

Cinven Completes Amdipharm Acquisition

European private equity firm, Cinven has completed the acquisition of Amdipharm, a family-owned international niche pharmaceuticals business, for a total consideration of 367 million pounds ($593.3 million). This follows Cinven’s acquisition of Mercury Pharma, an international specialty pharmaceuticals company, in August 2012.

Cinven and Warburg Pincus Successfully Place Ziggo Shares

Following the press release of this morning, Ziggo‘s major shareholders, Cinven and Warburg Pincus and their co-investors have successfully placed 37 million ordinary shares of Ziggo N.V. at a price of 24.75 euros ($31.21) per share, resulting in gross cash proceeds of 915.75 million euros. There is also an over-allotment option for up to an additional 3 million shares.

Cinven Acquires Amdipharm Group

European private equity firm Cinven has acquired the Amdipharm Group, a family-owned international niche pharmaceuticals business, for a total consideration of 367 million pounds ($589.5 million). Amdipharm will initially operate as a standalone business but Cinven will be looking to merge Amdipharm with its existing portfolio company, Mercury Pharma, which it acquired in September 2012.

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