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Alchemy Partners Plans Moore Paragon Turnaround

19 years ago

Alchemy Partners in August announced the MBI of Moore Paragon, the European forms and labels business of Moore Corp. Ltd of Canada. The deal, which had a headline value of $41 million (ecu 37 million), was the 22nd investment made by Alchemy since its foundation January 1997. Moore Paragon has operations in the UK and […]

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Barclays Private Equity Closes First Belgian Deal

19 years ago

Luc Thijs, the founding owner of Alro, the Belgian group that leads the European market in painting and coating components for the automotive industry, turned to UK private equity providers when he sought to sell a majority of his business. Barclays Private Equity won the deal against competition from other UK financial purchasers and completed […]

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Schroder Backs Derek Lewis In GBP150 Million Build-Up

19 years ago

Derek Lewis is joining forces with Schroder Ventures, which backed the highly successful Technology buyout, and Andrew Needham, head of corporate finance at solicitors Addleshaw Booth & Co, to launch an IT services group building business, DataGroup. Derek Lewis has spent 28 years in the IT industry, working for IBM, Olivetti and ICL, and leading […]

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CVC Unveils Clutch of Deals For Its Giant European Fund

19 years ago

In the month leading up to the July final close of the $3.1 billion CVC European Equity Partners II fund (story, page 4), CVC Capital Partners announced three new deals. A fourth transaction, a buyout of Bols Royal Distillers from Koninklijke BolsWessanen, is expected to complete at the end of August. The $86 million (ecu […]

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Carlyle Europe Partners Wraps Inaugural Deal

19 years ago

The Carlyle Group in late July announced the ecu 1 billion final close of its first European fund (story, page 10) and simultaneously unveiled the vehicle’s initial investment, the buyout of Genoyer. The Marseilles-based company, previously owned by its founder, Maurice Genoyer, is one of the world’s principal manufacturers of fluid piping equipment and valves. […]

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BC Partners Takes Wheel at Auto Trader

19 years ago

BC Partners in July announced the GBP260 million (ecu 383 million) purchase of Hurst Publishing, the privately owned company best known for its Auto Trader titles, the weekly regional magazines for classified automotive advertising that are published in conjunction with Guardian Media Group (GMG). The UK used-car market has grown by more than 45% since […]

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Doughty Hanson Acquires Leading Aerospace Group

19 years ago

Doughty Hanson will pay BTR GBP510 million (ecu 752 million) for the four businesses that comprise the BTR Aerospace Group. The deal, announced at the end of July, is scheduled to complete in September. The target companies, which will be renamed Dunlop Standard Aerospace Group, are Standard Aero, Dunlop Aviation Division, Aero Engine Equipment and […]

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Gilde and Axa Show Sweet Tooth

19 years ago

Campbell Soup Company of the US in May sold its Continental Sweets Europe subsidiary for an undisclosed sum to an MBO team backed by the Gilde Buyout Fund and Axa Private Equity Fund. The deal was Gilde’s second buyout from Campbell Soup, after the its 1997 investment in the German gourmet food products specialist Beeck […]

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HSBC Private Equity Invests in HCT Shaping Systems

19 years ago

HSBC Private Equity in May led and arranged an institutional funding for HCT Shaping Systems, a Swiss company specialising in machinery and systems for cutting silicon wafers for the semi-conductor and photovoltaic industries. HCT’s wire-saw cutting technology enables silicon wafers to be cut with more precision than conventional diamond-saw equipment, thus reducing wastage and obviating […]

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Apax Looks to Future With Magazines Buyout

19 years ago

Pearson’s consumer magazine business was sold in April to Apax Partners and management for GBP142 million (ecu 212 million), including GBP125 million cash and profit-related deferred consideration payments totalling an estimated GBP17 million. The businesses acquired include the UK consumer magazine publisher Future Publishing; French computing magazine publisher Edicorp Publications; and the Futurenet commercial website […]

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Murray Johnstone Backs Jim Ratcliffe in Ineos Buyout

19 years ago

“Serial entrepreneur” Jim Ratcliffe heads a buyout team that has acquired Ineos Group from Inspec Group in a GBP90.5 million (ecu 135 million) deal. In 1992, Jim Ratcliffe left Advent International and, together with Dr John Hollowood, led the MBI/MBO of BP’s speciality chemicals division, forming Inspec Group. Inspec floated in 1994 and is currently […]

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Investors Rejig Structure Of HMV Media Group

19 years ago

The original structure for the GBP800 million (ecu 1.19 billion) HMV Media deal (EVCJ April/May 1998, page 27) was slightly adjusted following a delay in the planned high-yield issue. However, press reports that the senior banks, Merrill Lynch & Co and SBC Warburg Dillon Read, cancelled the original GBP500 million syndicated loan after encountering low […]

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Record High-Yield Issue Planned for Kappa Packaging

19 years ago

The largest private equity transaction to date this year was announced in mid-May, when Cinven and CVC Capital Partners agreed to acquire the packaging division of KNP of the Netherlands in a DFl 3.4 billion (ecu 1.5 billion) deal set to complete in July. As much as 80% of the acquisition consideration will be met […]

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Technology Favoured as UK Venture Market Soared in 1997 Massive surge in fund raising outstripped growth in disbursements

19 years ago

The Report on 1997 Investment Activity published by the British Venture Capital Association (BVCA) contains a number of surprises as well as a predictable quota of broken records. It became clear as 1997 progressed that fund-raising records would not just be shattered, but pulverised. This indeed was the case: UK funds attracted GBP6.496 billion (ecu […]

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Fund-Raising Boom Dwarfed Investment Growth in 1997

19 years ago

Preliminary figures from the annual survey of the European Venture Capital Association (EVCA), confirm 1997 as a year of explosive growth in the European private equity market. As such, 1997 was marked by an unprecedented increase in capital flowing into European private equity funds. The year’s tally totalled ecu 20 billion, 2.5 times more than […]

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Evergreen Readies First Secondary Fund

19 years ago

Evergreen Canada-Israel Investments completed a $21 million (ecu 19 million) initial close in May on its newest product, the Harvest Fund, which will make secondary investment in Israeli venture capital funds. This vehicle, expected to collect approximately $30 million by the end of June, is the first secondary fund, not only for Evergreen, but for […]

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Rothschild Wins Licence For Australian Biotech Fund

19 years ago

Rothschild Bioscience Managers Limited (RBM), the Australian operating arm of the Rothschild Bioscience Unit, in May signed a licence agreement with the Australian government to operate a new fund, the Australian Bioscience Trust (ABT), under the new Innovation Investment Fund (IIF) programme. Under this programme, the Australian Federal Government will provide an initial A$130 million […]

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Nokia Will Enter Corporate Venturing Market

19 years ago

Broad-based Finnish telecommunications group Nokia is the latest European corporation to announce its entry into the corporate venturing arena. The group plans to establish the Nokia Venture Capital Fund, capitalised at $100 million (ecu 91 million), to fuel future growth and boost new product and long-term business development. Nokia itself has grown rapidly recently through […]

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