Western Europe

Private equity and venture capital news from Western Europe

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• Candover Investments to wind up, return cash to shareholders 31 Aug 2010. Source: AltAssets. Candover Investments is to wind itself up and return cash to shareholders in the wake of failed takeover plans.

• Cleantech Invest partially exits SiC Processing 27 Aug 2010. Swiss-headquartered growth capital fund Cleantech Invest has sold a stake in silicon wafer equipment company SiC Processing in a trade sale to Nordic Capital Fund VII.

• Henderson to wind up private equity fund of funds 27 Aug 2010. Source: AltAssets. UK asset manager Henderson Global Management is to wind up its private equity fund of funds investment arm.

• UK fund of funds SVG Capital sees asset values bounce back 27 Aug 2010. Source: AltAssets. UK private equity fund of funds SVG Capital has seen its assets rise as portfolio company valuations continue to improve.

• Neuberger Berman pursues additional $75m for distressed fund 27 Aug 2010. Source: AltAssets. US Asset manager Neuberger Berman is to raise an additional $75m for its $200m listed distressed investment vehicle.

• HgCapital Trust posts 2.9 per cent six month NAV increase 26 Aug 2010. Source: AltAssets. The London-listed arm of UK private equity firm HgCapital has posted a 2.9 per cent increase in net asset value (NAV) for the six month period to 30 June, rising to £291.9m (€356.9m).

• Ratos readies Bisnode for sale 26 Aug 2010. Source: AltAssets. Swedish private equity firm Ratos is reportedly looking to sell portfolio company Bisnode, a business information firm.

• HitecVision merges four oil and gas portfolio companies 25 Aug 2010. Source: AltAssets. European oil and gas private equity specialist HitecVision has merged four portfolio companies into a single entity.

• EQT, GS Capital spruce up Danish cleaning services company ISS for IPO 25 Aug 2010. Source: AltAssets. Swedish private equity firm EQT and the buy-out arm of US investment bank Goldman Sachs are readying Danish cleaning services company ISS for an IPO.

• Rutland Partners acquires UK tool hire business 24 Aug 2010. Source: AltAssets. UK turnaround specialist Rutland Partners has acquired Wolseley, a tool and equipment hire business, from parent company Brandon Hire for £43m (€52.4m).

• Triton acquires majority Ovako stake 24 Aug 2010. Source: AltAssets. European private equity investor Triton has acquired a majority stake in Ovako, a Nordic steelmaker.

• 3i looking to sell baby bottle maker for over £200m 24 Aug 2010. Source: AltAssets. UK private equity firm 3i is looking to sell Mayborn, maker of the Tommee Tippee baby bottles, for over £200m (€244m), according to the Independent.

• PAI Partners considers splitting Yoplait in two for sale 24 Aug 2010. Source: AltAssets. French private equity firm PAI Partners is considering dividing yogurt maker into two companies as part of a potential sale of its 50 per cent stake in the business, according to Bloomberg.

• JC Flowers, Doughty Hanson among bidders for EBS 23 Aug 2010. Source: AltAssets. Private equity firms Doughty Hanson and JC Flowers are among the bidders lining up for EBS, Ireland’s biggest customer-owned lender, according to reports.

• Klesch acquires German Shell oil refinery 23 Aug 2010. Source: AltAssets. London firm Klesch & Company has purchased a German refinery from oil giant Royal Dutch Shell.

• Growth investor Summit Partners takes $100m stake in AVAST Software 23 Aug 2010. Source: AltAssets. Growth equity investor Summit Partners has invested $100m for a minority stake in antivirus specialist AVAST Software.

• Former UK Treasury Minister to advise Maven Capital Partners 23 Aug 2010. Source: AltAssets. Scottish private equity firm Maven Capital Partners has recruited Ian Pearson, a former Treasury and Business Minister for the UK government, as senior adviser.

• Siemens Venture Capital focuses on visualisation technology company RTT 23 Aug 2010. Source: AltAssets. The venture arm of German engineering conglomerate Siemens has taken a stake in Realtime Technology (RTT), a specialist in 3D visualisation software services.

• Energy sector luminary Bernotat to advise Permira 20 Aug 2010. Source: AltAssets. Permira has called on the former CEO of power giant E.ON and energy sector veteran Wulf Bernotat, hiring him as a senior adviser.

• Bottoms up as TDR buys pub portfolio from Mitchells & Butlers 20 Aug 2010. Source: AltAssets. Mid-market buy-out firm TDR Capital has acquired a 333-strong pub portfolio from Mitchells & Butlers, the listed UK business that owns Harvester, Browns Restaurants and All Bar One.

• Endless conserves world’s oldest conservatory supplier 19 Aug 2010. Source: AltAssets. Private equity firm Endless, known for investing in ailing businesses and turning them around, has stepped in with an equity injection to help Amdega, the world’s oldest conservatory company, with a more than 135-year heritage.

• BPE in second secondary buy-out of the week 19 Aug 2010. Source: AltAssets. Barclays Private Equity, the in-house mid-market private equity firm of UK bank Barclays, has made its second secondary buy-out of the week by taking a majority stake in UK glass-bottle maker Allied Glass from CBPE Capital for £75m (€91.4m).

• Citi agrees to mediation over EMI 19 Aug 2010. Source: AltAssets. Terra Firma and Citigroup, the bank that invested debt for the UK private equity firm's buy-out of EMI, will go to mediation in New York next month to break the stalemate over the £4.2bn (€5.12bn) 2007 deal, according to the Financial Times.