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Face to face: Irish eyes are smiling

20 years ago

What do you see as the strengths and weaknesses of the venture capital industry in Ireland? The strengths, or advantages, include Ireland’s strong economic growth over the last six years – the highest growth rate in Europe by a multiple of three; a young highly educated population, particularly in the technology area; a supportive attitude […]

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Deals round-up………………….

20 years ago

PRIVATE EQUITY RBDC becomes non-conformist Royal Bank Development Capital (RBDC) has backed the GBP510 million management buyout of Ocwen UK, a non-conforming UK mortgage lender, from its parent company, Ocwen Financial Corporation of the US. The deal includes the acquisition of a GBP700 million mortgage portfolio. RBDC has invested GBP76 million of equity, with a […]

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Drug discovery for Candover

20 years ago

Candover has led the GBP57.5 million buyout of Inveresk Research Group, a contract research organisation which provides clinical and preclinical services to a worldwide client base. The company has been in existence since 1946 when the UK government established the Institute of Seaweed Research at Inveresk Gate, near Edinburgh. Today, Inveresk Research operates on a […]

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Chemicals deal for Industri Kapital

20 years ago

Fortum Oil and Gas, a wholly owned subsidiary of Fortum Corporation, has agreed to sell Neste Chemicals to Industri Kapital 1997 fund for Fm3 billion, in a transaction subject to the approval of competition authorities. Neste Chemicals’ businesses include adhesive resins, unsaturated polyesters and gelcoats, oxo intermediates, paper chemicals, and chemicals trading. It has 40 […]

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Gresham wins photo finish

20 years ago

ColourCare, the UK’s largest wholesale photoprocessor, is being bought by its management in a GBP55 million deal arranged and led by Gresham Trust, the London-based private equity house. Debt is provided by Bank of Scotland. Leading the management buyout is Bill McInnes, 53, who becomes managing director of ColourCare, which has a workforce of 1,600 […]

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Phildrew argues its case to UB

20 years ago

A private equity consortium led by Phildrew Ventures has confirmed it is backing a near GBP600 million offer on behalf of Brian Cardy and William Mitchell for the snacks and frozen foods businesses of United Biscuits. Cardy previously worked for United Biscuits at Terry’s and as marketing director of KP Foods before leaving for Unigate […]

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Earls Court exhibits potential

20 years ago

Candover has teamed up with Andrew and Jack Morris, owners and developers of the Business Design Centre in London, to undertake a GBP183 million buy-in of Earls Court & Olympia, a leading UK exhibition venue. The Earls Court & Olympia exhibition centres have earned a reputation for innovative events from early in their existence. In […]

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EQT gobbles up Findus

20 years ago

EQT Scandinavia, the investment manager of the EQT Scandinavia II private equity fund, has successfully completed its negotiations with Nestle regarding the purchase of the Findus brand worldwide, excluding Switzerland and Italy, and parts of Nestle’s frozen food business in Europe. The agreement is subject to regulatory approval and consultation procedures with the workforce in […]

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Deloittes catches Express

20 years ago

Express 2 Automotive (E2A), an automotive components manufacturer based in the north-east of England, has been acquired in a management buyout. The deal sees ownership of the company transferred to Roy Stanley, managing director, who has bought the company from Express Group for around GBP2.5 million. Formed as an Express subsidiary in 1996, E2A specialises […]

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3i in the news at Adscene

20 years ago

The sale of UK regional newspaper publisher Adscene to Denitz Media in a GBP91 million public-to-private MBI led by the Leeds office of 3i, has been declared unconditional. 3i has provided GBP16.5 million of equity and introduced a new management team. Denitz Media was specifically formed to take the company back into private ownership. The […]

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CVC moves into Danish software

20 years ago

CVC Capital Partners, a pan-European private equity provider, has announced the completion of a deal to establish the Aston IT group, through the acquisition of seven existing Danish IT companies. Aston becomes one of the largest companies in the Danish software consulting market, a leading value added reseller within enterprise resource planning (SAP and Navision) […]

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Private Equity – US giant heads for Europe

20 years ago

US insurer American International Group (AIG) is a significant private equity player on the worldwide stage but, slightly surprisingly, has not to date had a direct presence in the European private equity market. The formation of CapVest Management, a 50:50 joint venture between three former Bankers Trust private equity principals and AIG Global Investment Group, […]

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Pantheon closes secondary fund

20 years ago

Specialist private equity fund-of-funds manager and investment adviser Pantheon Ventures has closed more than $150 million for its Global Secondary Fund. The fund will be capped at $500 million (euros 460 million). Although Pantheon Global Secondary Fund ranks as the group’s first dedicated secondaries vehicle, Pantheon itself is one of the longest established secondaries investors. […]

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Westport/Parallel alliance confirmed

20 years ago

Details of the alliance between specialist co-investment fund manager Parallel Ventures and adviser and fund-of-funds manager Westport Private Equity (formerly Crossroads UK), have been unveiled. Parallel Ventures, headed by Paul Whitney, has taken a majority holding in Westport, which earlier this year split from its former partner and founding shareholder Crossroads in the US. The […]

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Merrill Lynch returns to private equity

20 years ago

Thick and fast they came at last’, to borrow from Lewis Carroll. Merrill Lynch & Co is the latest US house to admit plans to enter the European private equity market. To be accurate, the thundering herd’s proposed euros 1 billion to euros 2 billion vehicle ($919 million to $1.8 billion) represents not an entry […]

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Granville seeks money from parent

20 years ago

UK investment bank Granville & Co, which had made no secret of the fact that it was seeking new investors, has been acquired in a GBP37 million ($62 million) deal by Robert W Baird, a US investment banking and brokerage firm, which is itself a subsidiary of NorthWestern Mutual Life (NWM). In Europe, the bank […]

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21 Invest and CDC link up in Spain

20 years ago

Two private equity groups that have already scored notable successes in Spain have revealed plans to co-operate to exploit the Spanish private equity market’s potential for development. 21 Invest, the Benetton/Bonomi investment vehicle, and Charterhouse Development Capital, the private equity arm of CCF Charterhouse, will share responsibility for 21 Invest Partners SA, a Madrid company […]

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