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UBS CapitalScores First French Deal

19 years ago

A year after opening its Paris operation, UBS Capital, the private equity arm of UBS, completed its first direct investment in France. UBS Capital in October acquired a majority stake in Ardial, a leading French cash-in-transit and security group, for an undisclosed sum. Ardial, which has 2,300 employees, forecasts sales of close to FFr 1 […]

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Legal & General Ventures has Emtec Deal Taped

19 years ago

Legal & General Ventures (LGV) of the UK has announced the acquisition of Germany’s Emtec, the world’s largest manufacturer of magnetic tape, in a transaction with a gross value of some DM 530 million (ecu 270 million). Formerly owned by the German conglomerate BASF, Emtec was acquired by Korea’s Kahap group in early 1997. Although […]

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Alchemy’s US Buy Forms $770 Million Group

19 years ago

Alchemy Partners, which has deployed capital at a phenomenal rate since its creation less than two years ago, in October completed its largest deal with the acquisition of Envirotest Systems, a listed US vehicle emissions testing group in a transaction valued at $770 million (ecu 648 million). Envirotest will be grouped with ESP, the US […]

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Charterhouse Buys Madame Tussauds

19 years ago

Charterhouse Development Capital (CDC) in October announced its GBP352 million (ecu 500 million) purchase of The Tussauds Group from Pearson plc. The deal is the first transaction by Charterhouse Capital Partners VI, the GBP800 million fund CDC closed last year. It thus brings to an end a long fallow period for CDC, whose chief executive, […]

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BC Partners Acquires Ross Breeders in GBP100 Million Deal

19 years ago

BC Partners in early December acquired Ross Breeders, one of the world’s leading poultry breeders, from Hillsdown Holdings in a GBP100 million (ecu 142 million) buyout. Ross, which claims almost a quarter of the world market for broiler breeding stock, is the clear market leader in the UK, Europe and Latin America and has a […]

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Tank & Rast Sets Record for German Market

19 years ago

An Apax-led consortium in November exchanged contracts with the German federal government to acquire the Tank und Rast chain of motorway service stations and restaurants. Valued at DM1.8 billion (ecu 916 billion), the transaction ranks as the largest institutionally funded buyout seen in Germany to date. The Tank und Rast auction, which attracted around 50 […]

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Israeli High-Tech Tempts GE Capital

19 years ago

GE Capital’s Equity Capital Group (ECG) in October appointed director Sam Cubac to head the group’s new office in Tel Aviv. ECG made its first foray into the Israeli market in 1997 through a $20 million (ecu 17 million) joint venture with the ABS GE Capital Giza Fund, a high technology vehicle founded in partnership […]

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Eucalyptus Ventures Rounds Up $55 Million

19 years ago

Eucalyptus Ventures, the first fruit of a strategic alliance between Hambrecht & Quist (H&Q) of the US and the Israeli investment bank Tamir Fishman & Co, held a final close on $55 million (ecu 46 million) in November. Among a plethora of vehicles focusing on Israel’s prolific high-technology sectors, Eucalyptus Ventures is unique in having […]

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AXA Launches Twin International Funds-of Funds

19 years ago

AXA Investment Managers in November began formal marketing for two funds-of-funds, one focusing on the US and one covering Europe and Asia. These are the first funds-of-funds launched directly by the asset management arm of AXA Group, the major international insurance business, although AXA is the majority owner of Donaldson Lufkin & Jenrette, which operates […]

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INVESCO Preps Flexible Fund-of-Offering

19 years ago

The steady flow of international fund-of-funds offerings throughout 1998 shows no signs of diminishing as yet. As the year end approaches, INVESCO Private Capital – previously Chancellor LGT Capital Management – is preparing to hit the fund-raising trail with a $500 million (ecu 420 million) offering, INVESCO Partnership Fund II. The vehicle is a successor […]

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Warburg Pincus Wraps $5 Billion Giant

19 years ago

At its final close on $5 billion (ecu 4.2 billion) in September, Warburg, Pincus Equity Partners ranked as the second-largest private equity fund ever raised, behind Kohlberg Kravis Roberts & Co.’s $5.7 billion 1996 Fund. EM Warburg, Pincus & Co set a $3 billion target for the latest vehicle at its launch last autumn. Although […]

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Doughty Hanson To Make Its Move Into US Market

19 years ago

Following Sir Isaac Newton’s theory that for every action there is an equal and opposite reaction, Doughty Hanson & Co. in the coming year will open New York offices and begin targeting the US for potential acquisitions, said a spokesperson at the firm. The move by the European giant, which raised $2.5 billion (ecu 2.1 […]

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TTP SeeksEuropean Venture Debut

19 years ago

UK innovation specialist TTP Group – originally The Technology Partnership – is in the process of raising its maiden venture fund, to be managed by its newly-formed subsidiary TTP Venture Managers. TTP is targeting as much as GBP50 million (ecu 71 million) for the TTP Venture Fund, which is slated for investment across a spread […]

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EIB Supports CapMan’s Finnmezzanine II

19 years ago

CapMan Capital Management in November closed its second mezzanine vehicle, Finnmezzanine Fund II, on FMk 520 million (ecu 87 million). The total included a FMk 100 million commitment from the European Investment Bank (EIB), its first direct venture investment in Finland. CapMan’s first Finnmezzanine Fund, created in 1996, raised some FMk 190 million and is […]

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New Climate of Optimism For High-Tech VC in Italy

19 years ago

Italy’s entire private equity market should receive a welcome boost when the government passes new closed-end fund legislation in January to create more efficient structures for international institutional investors. The new year, however, may also signal the beginning of a long-awaited spring for Italy’s underdeveloped early-stage high-technology investment sector. The first signs of a thaw […]

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TechnoStart Ventures On Course for Target

19 years ago

German early-stage investment specialist TechnoStart hopes to close its new fund, TechnoStart Ventures GmbH & Co Fonds, on DM80 million (ecu 41 million) by the year end. The vehicle held an October second closing on DM50 million. Investors signed by the second closing included TBG, the European Investment Fund, Technologie Holding and Dow. TechnoStart Ventures […]

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