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Procuritas Forms Nordic Specialist Group

21 years ago

Procuritas Partners acquired three transport and service businesses from BTL’s specialist division in a December deal with an estimated value of SKr 350 million (ecu 40 million). The three businesses, all with strong market positions in the Nordic region, have been brought together in the Nordic Specialist Group (NSG), which will have around 600 employees […]

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GE Capital and 3i Join For Vimercati Buyout

21 years ago

Vimercati, an Italian company specialising in the design, development and production of electromechanical and electronic components for the automotive industry, was the subject of an L51.3 billion (ecu 26 million) buyout in December. The deal was led by GE Capital’s Equity Capital Group and co-led by 3i Italy. Vimercati provides a classic example of a […]

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Apax’s French Office Sees Active Winter

21 years ago

Apax Partners & Cie announced four new investments between early December and early January. The most recent was the buyout of Groupe Lehmann, a distributor of building materials and industrial fixtures. Groupe Lehmann, founded early this century, is market leader in the Alsace region’s building products sector and generated a turnover of over FFr 500 […]

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Gilde IT Fund Closes Five Deals in Quick Succession

21 years ago

Gilde Investment Management made five investments totalling $10 million (ecu 9.2 million) in the business applications and Internet sectors between October and February. According to Gilde, the five investments reflect the group’s “underlying vision of investing in companies that have the potential to dramatically change the effectiveness of the core business processes of their customers […]

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CapMan Takes Tally to 50

21 years ago

CapMan Capital Management, Finland’s dominant independent private equity house, rounded off an exceptionally active year by finalising five new investments between November and January. In all, CapMan completed 12 domestic investments and four Eastern European deals in 1997, ending the year with a 50-strong portfolio. The latest additions to the CapMan funds’ industrially diverse portfolio […]

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Granville Takes Slice of French IT Services Group

21 years ago

Granville Private Equity Managers has invested an undisclosed sum for a 31% holding in SII, a French IT services company operating in the utilities, automotive, aerospace and telecoms sectors. The December investment was announced shortly after the opening of Granville’s office in Germany and its first German investment, Elmeg (EVCJ December 1997/January 1998, page 7). […]

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3i and Alta Berkeley Lead Onyvax Funding

21 years ago

3i Cambridge and Alta Berkeley in December led an investor syndicate which provided more than GBP4.3 million (ecu 6.5 million) of funding for Onyvax, a UK start-up founded in early 1997 to develop vaccines for a range of cancers. SR One, SmithKline Beecham’s venture capital arm, and Alberville Investments, controlled by the Peter Sager Wallenberg […]

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Advent International Reshapes Europe Team

21 years ago

Advent International has announced several senior appointments following the closing last year of its $1 billion GPE III fund and the recent launch and initial close of its new Central European Fund (story page 3). Joanna James has succeeded Nick Callinan as managing director of Advent’s Central Europe team, while John Singer and Will Schmidt […]

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Morgan Grenfell Looks To German Private Equity

21 years ago

Morgan Grenfell Development Capital is pressing ahead with its European expansion strategy despite press speculation that Deutsche Morgan Grenfell is liable to lose much of its autonomy, along with the Morgan Grenfell name, as part for Deutsche Bank’s overhaul of its global investment banking business. A glance at the back of MGDC’s 1997 review reveals […]

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CVC Set to Be Major 1998 Fund Raiser?

21 years ago

It should come as no surprise that CVC Capital Partners is gearing up for a new fund-raising effort. CVC, in 1997 ranked by KPMG as the leading buyout player in Continental Europe for the sixth consecutive year, raised $800 million (ecu 740 million) for CVC European Equity Partners in 1996. In the 18 months to […]

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Candover Closes GBP850 Million 1997 Fund

21 years ago

The last of the 1997 mega-funds, The Candover 1997 Fund, closed in December on GBP850 million (ecu 1.28 billion). One of the largest funds in Europe after the $2.5 million (ecu 2.3 billion) Doughty Hanson leviathan, the new vehicle will enable Candover Investments to underwrite more than GBP200 million of equity for a single deal. […]

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Second Advent Central Europe Fund Hits First Close

21 years ago

Advent International rapidly brought its second Central Europe fund to a first closing on $80 million (ecu 74 million) early this year. Joanna James, the new managing director of the group’s Central Europe team, said Advent International has already received “serious indications of interest” that would take the fund to its original target of $150 […]

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Barclays Enlarges Private Equity Business

21 years ago

Barclays Bank’s private equity arm, retained by the bank following its sale of parts of the BZW investment banking business, is positioning itself for further growth. Renamed Barclays Private Equity (BPE) to reflect its status as a subsidiary of the Barclays Capital division, the private equity group has announced substantial new funding, further progress of […]

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Legal & General Closes GBP190 Million Annual Fund

21 years ago

Legal & General Ventures (LGV) has closed GBP90.5 million of external commitments for its fifth annual partnership fund, the latest in a series of UK and Continantal European buyout vehicles for individual calendar years. With Legal & General’s customary annual commitment of GBP100 million, the LGV 1998 Private Equity Fund LP weighs in at GBP190.5 […]

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Alchemy Closes GBP100 Million, Now Looks to Germany

21 years ago

By the end of 1997, Alchemy Partners, the private equity group established by Jon Moulton, had closed annual commitments of GBP101 million (ecu 152 million) from 14 institutions for its open-ended 12-month rolling structure, the Alchemy Investment Plan. Having raised the maximum annual capacity originally envisaged (EVCJ April/May 1997, page 5), and with nine deals […]

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Italy’s OTTO Mega-Deal Set for Completion

21 years ago

The privatisation of SEAT, the Italian “Yellow Pages” business, the largest private equity transaction yet seen in Continental Europe (EVCJ August/September 1997, page 4), will be finalised this Spring. Late last year, an international equity syndicate co-led by Banca Commerciale Italiana (BCI) and Investitori Associati, invested around L875 billion (ecu 450 million) to acquire the […]

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DLJ Eyes European Deals

21 years ago

Donaldson Lufkin & Jenrette is poised to beef up its London-based private equity operation as part of the overall expansion of the investment bank’s European business. Andrew Rush, a managing director of DLJ’s New York private equity operation, is expected to relocate from New York to London to source investment opportunities for DLJ’s $3 billion […]

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UK Buyouts Break GBP10 Billion Barrier

21 years ago

Preliminary end-of-year figures for 1997 saw the UK buyout market breaking the GBP10 billion (ecu 15 billion) barrier for the first time, according to the Centre for Management Buyout Research (CMBOR). CMBOR valued the market at GBP10.4 billion, 33% up on the previous record total from 1996 (Table 1). The number of transactions recorded rose […]

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