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CVC Acquires Market Leader in Time Planning

19 years ago

CVC Capital Partners concluded an outstandingly active 1997 with its second Danish lead. Just before Christmas, the group’s Swedish office closed a GBP58 million (ecu 87 million) buyout of Time/System International (TSI) from quoted Finnish sporting goods group Amer, which is refocusing on its core business. TSI, which specialises in time planning systems, is headquartered […]

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Candover Revisits Fairey For Hydraulics MBO

19 years ago

Fairey Group in January sold its defence and aerospace engineering business, Fairey Hydraulics (FHL), to Candover and management in a GBP55 million (ecu 83 million) buyout, the first deal for the GBP850 million Candover 1997 Fund (story, page 3). The connection between Candover and Fairey dates back to 1986, when Candover led the group’s GBP51 […]

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Atlas Links with Guidant in $9 Million Impella Start-Up

19 years ago

A German start-up, Impella Cardiotechnik, plans to develop and market a cardiac support device which may eliminate the need for traditional cardiopulmonary bypass equipment during surgery. Impella was formed by Atlas Venture and Guidant Corporation, a word leader in the treatment of cardiovascular disease. Guidant has assigned to Impella exclusive worldwide rights to a microaxial […]

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LGV 1998 Fund Kicks Off with Target Buy

19 years ago

The GBP174 million (ecu 262 million) buyout of Target Express Parcels, the first deal from Legal & General Ventures 1998 Private Equity Fund LP (story, page 6) was announced in early February. The deal enables Target’s three founder shareholders to realise part of their holding in the rapidly growing company while reinvesting in the newco […]

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Bass Sells Pubs and Bingo Business to Buy-ins

19 years ago

Bass disposed of two major businesses, its tenanted pub estate and the Gala bingo division, to buy-ins in December. BT Capital Partners backed Roger Myers and Hugh Osmond’s GBP564 million (ecu 849 million) acquisition of the estate of over 1,400 tenanted pubs. PPM Ventures joined forces with Nat Solomon and chief executive John Kelly, paying […]

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Apax Provides Dough for German Bakery

19 years ago

The UK and German funds of Apax Partners & Co have acquired a substantial minority holding in Wendeln Brot, Germany’s leading bread and baked goods manufacturer, through a “three figure millions” (Deutschmark or Sterling-denominated) investment. The funding supported Wendeln’s acquisition of the family-owned Lieken Group: by adding the Lieken Urkorn brand to its stable, the […]

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Texon Issues High-Yield Bond

19 years ago

Over the past two years, the high-yield bond has established itself as a feature of the European financing landscape. The most recent issue completed was a DM245 million (ecu 124 million) note for Texon International, the world’s largest manufacturer of structural shoe materials. The bond, offered by Chase Securities Inc, Chase Manhattan Bank AG and […]

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Apax Backs Evans In Virgin Radio Coup

20 years ago

The December sale of Richard Branson’s Virgin Radio to DJ and television presenter Chris Evans must surely rank as one of the highest-profile UK private equity transactions of the year. The deal, led by Apax Partners & Co and valued at GBP85 million (ecu 126 million) debt free, succeeded in the face of a higher […]

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BC Partners Leads Syndicate in FFr 570 Million Bercy Deal

20 years ago

BC Partners in November led an investor syndicate which provided a FFr 570 million (ecu 86 million) capital increase for Bercy Management, France’s Number One concession and contract catering group. BC Partners funds acquired a 20% holding in Bercy Management; Union d’Etudes et d’Investissement, an existing investor in Bercy Management, took its stake to 16%; […]

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LGV Agrees o515 Million Unipoly Acquisition

20 years ago

Legal & General Ventures (LGV) is backing the management team of BTR’s Polymer Products Group in a GBP515 million (ecu 764 million) MBO. A total GBP620 million funding package of has been raised for the deal, LGV’s largest lead to date by a substantial margin. Unipoly SA, a Luxembourg-based holding company, is acquiring the BTR […]

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Vsgele Buy Sets Record for Schroder

20 years ago

The CHFr 1.25 billion (ecu 782 million) acquisition of Vsgele Group, announced in late November, is the largest deal ever completed by Schroder Ventures. The family-owned Swiss clothing retailer has 360 shops in Switzerland, Austria and Germany, with annual sales of CHFr 950 million. A household name in Switzerland, Vsgele has sold non-fashion, value-for-money family […]

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Realising the Potential of Mergers & Acquisitions

20 years ago

The end of the century is witnessing a radical redrawing of the corporate map. Mergers, acquisitions, joint ventures, divestment, restructuring, outsourcing, virtual businesses and electronic businesses are the engines driving this transformation. Because of the sums of money involved, acquisitions and mergers have come under close scrutiny. Many commentators put a negative spin on their […]

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Kardan Seeks $75 Million for Tech Fund

20 years ago

Kardan Technologies is seeking $75 million (ecu 67 million) for its Kardan Technology Ventures fund, which will invest in Israeli telecommunications and data communications companies. AT&T Investment Management has committed $15 million to the vehicle, its first direct investment in an Israeli private equity fund. KTV hit a $40 million first close in September and […]

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AT&T Team Move To JP Morgan

20 years ago

The prospect of mass defections by experienced in-house teams who are lured by more attractive remuneration packages in the third-party fund management sectors, is a nagging worry for dedicated pension fund managers that have built up substantial private equity interests. Not so for AT&T Investment Management Corporation. Although its private equity management team has moved […]

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CDC South Asia Fund Is On Course for $200 Million

20 years ago

The Commonwealth Development Corporation (CDC), under its Commonwealth Private Investment Initiative (CPII) programme, has launched a fund which is aiming to raise $200 million for investment in South Asia. At its first closing in late Autumn, the South Asia Regional Fund, the third vehicle established under the CPII umbrella, had raised $119.5 million (ecu 107 […]

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Murray Johnstone Forms Three-Way Asian Partnership

20 years ago

As most of its peers look towards Continental Europe, Murray Johnstone Private Equity (MJPE) has opted instead to take the less trodden path into Asian markets. Murray Johnstone, which already has a well-established group office in Singapore has joined forces with GK Goh Holdings, one of the largest stockbrokers in South East Asia, and BancBoston […]

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Electra Links with Pactual for $400 Million Brazil Fund

20 years ago

Electra Fleming, which over the last two years has made a concentrated effort to expand its investment business into the major Continental markets, is now looking further afield in its bid for greater geographical diversification. The latest market to catch the group’s attention is Brazil, the world’s eighth largest economy, where it has joined forces […]

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