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Takeovers to Take Off Developments in the Travel Sector

21 years ago

The travel sector in the past has had an uneasy relationship with the financial institutions of the City and provided mixed results to private equity financiers, particularly in the late 1980s and early 1990s when the industry was badly hit by recession. However, with 14.5 million holiday-makers expected to spend GBP10 billion travelling abroad this […]

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Maiden Deal for Electra Fleming’s German Office

21 years ago

Electra Fleming invested DM43 million (ecu 22 million) to back the MBO of WAP-Reiningungssysteme (WAP) from Jungheinrich. This deal was the first completed by Electra Fleming’s German subsidiary, established last autumn following the acquisition of FBG (EVCJ October/November 1997, page 6). WAP specialises in the manufacture of high-pressure cleaning systems, including wet and dry cleaners, […]

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Huurre Is Fourth Nordic Deal for NWEP

21 years ago

NatWest Equity Partners led the FMk 200 million (ecu 33 million) March buyout of Huurre, a Finnish commercial refrigeration products group. The transaction, the UK private equity house’s fourth deal in the Nordic region and its first in Finland, was executed by NWEP’s London-based dedicated Nordic team. Huurre’s product range encompasses chilled cabinets for drinks […]

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CVC and AMP Fund Laughton Rainsford Add-On

21 years ago

In a classic LBU transaction CVC Capital Partners and AMP Asset Management Australia are providing further equity to support Laughton Rainsford’s GBP32.5 million (ecu 50 million) acquisition of Thomas Cork. The two groups jointly backed a GBP40 million MBI/MBO of Laughton Rainsfords last January. The management of Thomas Cork, which was itself the subject of […]

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Hygiene Diffusion Passes to Electra Fleming

21 years ago

The institutions which backed a 1993 buyout of Hygiene Diffusion, a leasing French manufacturer of adult incontinence products, have sold the company in a FFr 576 million (ecu 87 million) MBO led by Electra Fleming. Hygiene Diffusion, which turned over FFr 555 million in 1997, has a 28% share of the adult incontinence protection market […]

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Charterhouse’s French Club Kicks Off with SIA Buyout

21 years ago

Charterhouse SA led the buyout of SIA from its Swedish founder, Sonja Andersson, backing the deal alongside its new investor club for France (story, page 11). SIA is Europe’s largest wholesaler and distributor of “occasional” decorative items for the home, with a product range encompassing artificial flowers, table centres and decorations, Christmas decorations, ornaments, novelties […]

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Advent Int’l Backs Polish Slag Recycling Joint Venture

21 years ago

Advent International and its Polish affiliate, Copernicus Capital Management, led a $3.2 million (ecu 2.9 million) development capital funding for Slag Recycling, a scrap and slag recycling operation based near Krakow. Slag Recycling is a joint venture with Huta Sendzimira (HTS), Poland’s second-largest steel mill, which is currently being privatised. The private equity backers have […]

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CapMan Leads MBO of Leading Retailer Tiimari

21 years ago

Funds managed by CapMan Capital Management have taken an 85% stake in Tiimari, a leading Finnish retail chain, in a FMk 260 million (ecu 43 million) buyout from Rautakirja Oyj, a quoted Finnish group. The MBO team is headed by Kari Sulkanen, who founded Tiimari in 1975. Rautakirja bought the chain in 1990. Tiimari sells […]

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Procuritas Buys Sandar Projekt

21 years ago

Procuritas Capital Partners II (PCP II) completed its third investment in mid-March, in parallel with its final close (story, page 9). The fund acquired the assets of Sandar Projekt AB, Sweden’s largest painting and decorating contractor, from the receivers for an undisclosed sum. Sandar Projekt, which serves mainly corporate clients and is also active in […]

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3i and ABN AMRO Support NeuTec Pharma

21 years ago

3i in February announced it had led a GBP7.3 million (ecu 11.2 million) funding round for NeuTec Pharma in a private placing sponsored by Hoare Govett Corporate Finance. This leading-edge biotechnology company, which spun out of a University of Manchester research programme in 1996, specialises in the development of novel therapeutics for the treatment of […]

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Procuritas Second Fund Attracts Blue-Chip Backers

21 years ago

Procuritas Partners held a mid-March final closing for Procuritas Capital Partners II just short of the SKr 1 billion (ecu 117 million) mark. During the year that elapsed following the fund’s first closing, the original target of SKr 750 million was significantly over-subscribed, prompting Procuritas to agree an increased upper limit with earlier investors. Partner […]

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European Buyout Market Made Massive Leap in 1997

21 years ago

The value of the Continental European buyout markets virtually doubled between 1996 and 1997, according to statistics released by the Centre for Management Buyout Research (CMBOR) and publishers Initiative Europe. And, from 1995 to 1997, the value of Continental buyouts increased by a staggering 230%. The Continental markets’ combined 1997 value of GBP11.9 billion (ecu […]

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UK Conglomerate Eyes LBO Market

21 years ago

As EVCJ went to press, shareholders of UK conglomerate Wassall were preparing to vote on the group’s proposals to turn itself into a hybrid private equity fund and industrial holding company,while retaining its quoted status. Founded ten years ago by three of its directors, headed by chief executive Chris Miller, Wassall has made a practice […]

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PPM Adds Demicheli, Looks To Continent

21 years ago

The opening months of 1998 have seen PPM Ventures pressing strongly ahead with its international expansion plans. Shortly after its acquisition of the Australian buyout house Catalyst (story, page 18), the group announced the recruitment of investment director Marc Demicheli to help spearhead its European operation. Marc Demicheli has some nine years experience in the […]

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UBS Capital Partners Integrates Phildrew

21 years ago

Long-established UK private equity group Phildrew Ventures has become a fully-integrated member of UBS Capital’s European private equity division. The Phildrew Ventures management company, previously a joint venture between the partners and the UBS subsidiary Phillips & Drew Fund Managers (PDFM), is admitting UBS Capital Partners as a majority shareholder. Phildrew’s eight executive partners own […]

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Parallel Ventures Spins Out From Axa SLAM

21 years ago

Paul Whitney, chief executive of AXA Sun Life Asset Management (AXA SLAM) and a former head of Cinven, is returning to private equity. He will head Parallel Ventures, a private equity spun out from AXA SLAM with an initial GBP500 million (ecu 767 million) of group monies under management. Paul Whitney aims to match this […]

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EAC Goes Independent, Heads for Ecu 200 Million

21 years ago

EAC Fund II’s ecu 127 million first closing at the end of March saw European Acquisition Capital (EAC) celebrating its new independent status. The four senior partners, Bert Wiegman, Robert Mason, Paul Downes and Bill Robinson, have taken EAC independent from S-E Banken for undisclosed terms and together now own 100% of the management company. […]

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EQT Partners Launches Nordic and Danish Funds

21 years ago

EQT Partners is launching a second Scandinavian buyout fund with a target of SKr 3-5 billion (ecu 365-585 million). The Scandinavian buyout house, headed by managing director Conni Jonsson, was founded in 1994 by the Wallenberg Group investment arm Investor, US private equity group AEA Investors and S-E Banken. Its first vehicle, Scandinavian Equity Partners, […]

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