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EQT Partners Takes Control of Stenqvist

20 years ago

EQT Partners in January acquired Stenqvist Holding from Duni AB of Sweden. The investment was made through the EQT Scandinavia I Fund, which two years ago bought 50% of Duni from its parent Tidnings AB Marieberg, which retained 50% ownership of the company. Swedbank provided debt to support the Stenqvist acquisition alongside the SKr 450 […]

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EAC Acquires Leading Jewellery Retailers

20 years ago

European Acquisition Capital (EAC) in late December took a majority shareholding in Mappin & Webb and Watches of Switzerland when it backed the buyout of the businesses from the Asprey Group. The deal also included pawnbrokers TM Sutton, EA Barker and Nathan & Co, which form an integral part of Mappin & Webb’s overall business. […]

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3i Wraps Up GBP86 Million Amtrak Parcels Buy

20 years ago

Roger Baines, the founding owner of Amtrak Express Parcels, the Bristol-based carrier that delivers more than 50,000 parcels nationwide each day, in December sold the company to a 3i-backed buyout team in an GBP86 million (euro 125 million) deal. Founded in 1987, Amtrak now has 330 franchises operating from 115 depots throughout the UK and […]

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CVC Backs Siat MBO

20 years ago

CVC Capital Partners, which last year teamed with Cinven in the GBP1 billion (euro 1.45 billion) buyout of Kappa Packaging, continues to find investment opportunities in the highly fragmented packaging sector. The group in early February backed the MBO of Siat Group, one of Italy’s principal packaging products manufacturers, from its private shareholders. Siat, based […]

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Electra Fleming Acquires Inchcape Shipping Services

20 years ago

Electra Fleming, whose future is still uncertain following an unsolicited offer from 3i Group (story, page 3), in February paid GBP47.5 million (euro 69 million) to acquire the shipping services business of Inchcape plc. Since the start of its current financial year in November, Electra Fleming has completed nine acquisitions with an aggregate value of […]

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QXL Nets Record Backing

20 years ago

Apax Partners in February invested $12 million (euro 10.7 million) in QXL, Europe’s first and largest online auction service. The deal ranks as the biggest investment in E-commerce to date by a European venture group. Backed by private investors, Financial Times journalist Tim Jackson set up QXL in September 1997 and subsequently raised funding from […]

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PPM Ventures Growing Labels Group

20 years ago

PPM Ventures in February acquired a minority stake of more than 40% in Inprint Systems, a leading international supplier of info-labels. Terms for the restructuring deal, which included senior debt and working capital facilities provided by West LB Leveraged Finance, were not disclosed. Inprint Systems’ founder and chairman, David Instance, has a majority stake in […]

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Gilde Lines Up Major Buy & Build in Germany

20 years ago

Beeck Feinkostgruppe, the German salad and delicatessen products manufacturer acquired in June 1997 by Gilde Investment Management of the Netherlands, will later this year acquire the German prepacked salads and dressings business of Fritz Homann Lebensmittelwerke from Unilever, subject to agreement from the EU monopolies commission. Most of Homann’s 1900 employees will transfer to the […]

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Electra Fleming Buys into Safety-Kleen Europe

20 years ago

Electra Fleming in late December announced it had provided a GBP120 million (euro 175 million) financing package to support the MBO of Safety-Kleen Europe from Safety-Kleen Corp of the US. The transaction is notable as the first buyout where a significant proportion of the funding – the banking facilities provided by NatWest Acquisition Finance – […]

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NatWest Equity Partners Mops Up IMO Car Wash Group

20 years ago

The French family owners of IMO Car Wash Group in December sold the company to NatWest Equity Partners (NWEP) in an institutional buyout valued at GBP138 million (euro 201 million). IMO Car Wash Group is the largest conveyor car wash business in Europe, with more than 400 sites on the Continent and in the UK. […]

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Doughty Hanson Acquires High-Growth Swiss Group

20 years ago

Doughty Hanson in early January signed an agreement to purchase Tornos Bechler, a Swiss manufacturer of high-performance automatic lathes. A leader in its field worldwide, Tornos Bechler last year generated a turnover of CHFr 280 million (euro 175 million). The company has achieved sales growth of approximately 68% since Dr Anton Menth took over as […]

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Morgan Grenfell Wins Race for Coral

20 years ago

Morgan Grenfell Private Equity (MGPE) pipped at least five rival private equity houses to the post just before Christmas, when the firm bought betting shop operator Coral from Ladbroke Group for GBP390 million (euro 568 million). Unsuccessful contenders in the auction for Coral included Cinven, which reportedly bid some GBP375 million; a rival buy-in consortium […]

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Cinven Lines up GBP322 Million Dynacast MBO

20 years ago

Coats Viyella announced in mid-February that it had exchanged contracts to sell Dynacast, its global precision engineering division, to a GBP322 million (euro 469 million) MBO backed by Cinven. Warwickshire-based Dynacast, which manufactures plastic and metal components at 37 plants in 19 countries, is the only truly global operator in the precision diecasting market, where […]

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BC Partners Wins Cantrell & Cochrane

20 years ago

This year began on a high note for BC Partners, which in the second week of January bought Cantrell & Cochrane Group, Ireland’s leading distributor of alcoholic and soft drinks, in a euro 800 million deal. BC Partners acquired Cantrell & Cochrane from Allied Domecq, which has controlled the distributor for the past 30 years […]

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Larger Venture Spawn Bigger Deals as US Boom Continues

20 years ago

Money flooded at an unprecedented rate into US venture capital funds during 1998 while, armed with more money to invest than ever before, venture capitalists increasingly turned to larger investments in later-stage companies. Venture capital groups raised $24.34 billion in 200 funds last year, according to figures released by Venture Economics Information Services, a Securities […]

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JP Morgan Launches Family of PE Funds

20 years ago

JP Morgan Securities, which has been shifting its business from commercial to investment banking, in January launched the first in a series of private equity funds. Tentatively named JP Morgan Latin American Capital Partners, the vehicle has a $1 billion (euro 890 million) target and will receive a significant commitment from the firm, said Monty […]

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ProVen Broadens Focus To Exploit Healthcare Niche

20 years ago

Venture funds focusing on the Mid-Western US are few and far between, in stark contrast to the concentration of capital targeting early-stage technology businesses on the East and West coasts. Prompted by the relative dearth of funding sources in the Mid-West, together with the thriving healthcare sector in the region, ProVen Private Equity of the […]

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