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Watching, Waiting On the Asian Markets

22 years ago

If it involves private equity investing in East Asia, Peter Brooke, chairman of Advent International, would rather wait until the dust settles. Advent, an investor in the region since 1983, expects to face limited losses from the ongoing financial crisis in the region, largely because its portfolio companies have almost no external debt, except to […]

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Hicks Muse To Target Latin American Media

22 years ago

In January, Hicks, Muse, Tate & Furst finalised an agreement with Cisneros Group of Companies, a Venezuelan international media and telecommunications group, to form a $500 million (ecu 460 million) buyout fund focusing primarily on Latin America. Ibero-American Media Partners, to be based in Miami, will acquire and develop strategic alliances with media concerns in […]

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HSBC Raises $525 Million Asia Fund

22 years ago

The HSBC Group’s new Asian fund, HSBC Private Equity Fund 2, closed in January on $525 million (ecu 485 million), just over its original half-billion-dollar target. US institutions stumped up three quarters of this total, with the balance spread between Asian, Australian, European and Middle Eastern investors. US participants named by David Conrod, director of […]

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H&Q Links Up with Tamir Fishman

22 years ago

In late January, Hambrecht & Quist of the US announced a strategic co-operation agreement with Tamir Fishman & Co, a Tel Aviv based investment banking group. Tamir Fishman will act as H&Q’s exclusive representative in the Israeli technology, biotech, healthcare, consumer and other growth sectors. The two groups are co-sponsoring a recently launched venture which […]

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Pantheon Adds To Secondaries Holdings

22 years ago

Pantheon International Participationa (PIP), the private equity investment trust managed by Pantheon Ventures, in January announced the acquisition of new secondaries holdings valued at GBP13 million (ecu 20 million). PIP acquired units in one Japanese and one international private equity fund, plus a portfolio of twelve fund holdings with a predominantly European focus from three […]

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European Private Equity Performance Continues To Show Strong Results

22 years ago

The tremendous interest in European and UK private equity is predicated on the preferred returns that are supposed to accrue to private equity investment. Venture Economics has just published the newest volume in its Investment Benchmark Report series on private equity performance. Venture Economics has recently released a report on private equity performance on US […]

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Corporate Venturing in Germany: A Viable Alternative to Conventional Private Equity

22 years ago

The German management consultancy group Mackewicz & Partner recently concluded a second study on venture capital. In an earlier study, Equity Partnerships in the Medium-sized Capital Goods Industry In Germany, Mackewicz & Partner showed that the German development finance market had not yet reached a stage of maturity sufficient to prevent German medium-sized enterprises falling […]

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Cinven Grabs Headlines with GBP860 Million IPC Buy

22 years ago

Cinven kicked off 1998 in fine style, exchanging contracts for the GBP860 million (ecu 1.3 billion) buyout of the IPC magazine group from Reed Elsevier during the first week of January, following intensive – and exclusive – negotiations during the Christmas and New Year period. The price Cinven paid was towards the upper end of […]

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CVC Buys Hoechst Sausage Casings Business

22 years ago

The buyout of the German sausage-casings manufacturer Kalle Nalo from Hoechst for an undisclosed sum was announced at the end of October. CVC Capital Partners led the deal, acquiring a majority stake in the DM320 million (ecu 162 million) turnover company. Viscose- and polymer-based sausage casings account for 80% of Kalle Nalo’s sales. The group, […]

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Granville Closes Maiden German Deal

22 years ago

In its debut German deal, Granville acquired Elmeg GmbH Kommunikationstechnik, GermanyOs leading manufacturer of small ISDN telephone exchanges and line testing equipment, from its family founders for an undisclosed sum. The December announcement of the financial purchase coincided with the opening of its Frankfurt joint venture with Steffens Alvano & Partner, Granville Private Equity Deutschland […]

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PPM Ventures Backs Swiss Watch Buyout

22 years ago

Roventa-Henex, one of Switzerland’s largest private label watch manufacturers, was bought out from its private shareholders in a managment buyout structured and led by PPM Ventures. Terms of the transaction have not been disclosed. Roventa-Henex has operations in Switzerland, Hong Kong and the UK, where it trades as Avia Watch Company. The company manufactures products […]

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Nordic Capital Creates Surgical Products Group

22 years ago

A major new Swedish surgical products group, Mslnlycke Clinical, has been formed through the acquisition of SCA Mslnlycke’s Clinical Products (MCP) division and Tamro’s surgical products operations. The deal, led by Nordic Capital, was announced in October. Full terms of the transaction, which was referred to the EU competition authority for approval, have not been […]

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BZW Private Equity Leads Major Holidays Deal

22 years ago

A buyout of Crystal Holidays and Jetsave from Viad Corp of the US has formed the UK’s largest specialist tour operator. BZW Private Equity negotiated, led and financed the deal, which involved total funding of GBP150 million (ecu 222 million). The businesses acquired include Crystal Holidays, whose chairman and managing director Peter Dyer leads the […]

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First Swiss Deal for LGV

22 years ago

In its first Swiss deal, Legal & General Ventures (LGV) has acquired a majority stake in the Burkhalter Group of companies, the leading Swiss electrical contractor and network engineering provider, via a CHFr 122 million (ecu 76.3 million) MBO. The transaction was sourced via its German joint venture, LGV-Candover, which co-operates on an informal basis […]

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Domoservices Is Sold in Secondary Buyout

22 years ago

Schroder Ventures in November led the secondary buyout of Domoservices, France’s leading central heating maintenance services group, which ranks as the group’s largest French deal to date. The acquisition consideration has not been disclosed, but is reportedly in the FFr 500-700 million (ecu 75-105 million) range. The first buyout of the company, from Elfi, was […]

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Phildrew and UBS Capital Link for Trident Deal

22 years ago

Phildrew Ventures and UBS Capital announced in October their acquisition of the majority of FKI plc’s Automotive Division. The deal is due to complete in December. A new company, Trident Automotive, was formed to effect the acquisition, for $157.5 million cash (ecu 141.4 million), subject to a possible adjustment based on net assets at completion. […]

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NatWest Equity Partners Acquires Util of Turin in MBI

22 years ago

The buy-in of Sogepas/Util of Turin is the most recent investment in Italy by NatWest Equity Partners (NWEP), which next year plans to raise its first LP fund for buyouts in Western Europe (story, page 10). NWEP backed Franco De Gennaro, the former managing director of DEA who previously was general manager of Sandretto Industrie, […]

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Alpha Has Active End to Year: Five Deals Close

22 years ago

The Alpha Group has ended 1997 on a high note, with five deal completions announced since mid-September. These took the firm’s tally of investments for the year to seven, involving direct investment of FFr 340 million (ecu 51.4 million) by Alpha Group funds alongside FFr 643 million of co-investment by its fund participants. The group’s […]

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