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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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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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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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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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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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BancBoston Capital Looks To Nordic Markets

21 years ago

BancBoston Capital has recruited Christian Drougge to represent its interests in the Nordic countries. Managing director Andrew Kellett said the appointment reflects BancBoston Capital’s intention of enhancing its European presence and increasing its non-UK business. “There will be further evidence of our commitment to building a pan-European business in the next three to six months”, […]

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CVC To Staff Brussels Office, Extend European Reach

21 years ago

CVC Capital Partners has expanded its network of European offices to nine with the opening of a Brussels operation (EVCJ February/March 1998, page 3). Managing director Geert Duyck will head the Belgian office. He joins following ten years with BBL, where he headed the investment banking department, which specialised in equity capital markets, M&A, private […]

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Texon Issues High-Yield Bond

21 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 Provides Dough for German Bakery

21 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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Bass Sells Pubs and Bingo Business to Buy-ins

21 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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LGV 1998 Fund Kicks Off with Target Buy

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

21 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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Candover Revisits Fairey For Hydraulics MBO

21 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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CVC Acquires Market Leader in Time Planning

21 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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Founder Buys Out Rungis with CVC Backing

21 years ago

Georg Kastner, the founder of Rungis Express Group, led a buyout team which bought the company from the German department store chain Metro, with backing from CVC Capital Partners. No value has been disclosed for the December transaction. Rungis is the market leader for the wholesale delivery of high quality fresh food to gourmet restaurants, […]

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TVM Links with BIL For Virgene Funding

21 years ago

TVM-Techno Venture Management, Biotechnology Investments Limited (BIL) and the company’s founders have provided DM4 million (ecu 2 million) of early-stage funding for Virgene, a Munich-based company which is developing a new approach to the treatment of infectious diseases. The deal was BIL’s first investment in Germany. Virgene was established by Dr Axel Ullrich with seed […]

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AB Asesores Electra Backs Ei System MBI

21 years ago

The Electra Fleming/AB Asesores joint venture AB Asesores Electra (story, page 10) in January led a Pta 3 billion (ecu 18 million) buy-in of Ei System, a leading Spanish personal computer assembler and retailer. The company was acquired through New PC Holdings, established for the purpose, with backing from the newly quoted Dinamia private equity […]

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Cork LBU Moves Forward with Alpinvest Cash

21 years ago

Cork Industries, the company formed through a Candover-backed buy-in of three groups of engineering businesses in July 1996, has completed two further acquisitions. These purchases, of Bird Precision Bellows and Hunt Power Drives, and three acquisitions made by Cork between November 1996 and March 1997, have expanded the group’s portfolio of businesses to 14. From […]

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