Belgium

Private equity and venture capital news from Belgium

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• Gimv, Capricorn back energy efficiency company with €24m 01 Apr 2010. Source: AltAssets. Belgian private equity and venture capital firm Gimv and pan-European clean technology fund Capricorn Venture Partners have invested €24m in energy efficiency company Punch Powertrain for the further development and commercialisation of its continually variable transmission (CVT) drivetrains.

• Gimv pumps capital into aortic valve implant start-up 30 Mar 2010. Source: AltAssets. JenaValve, a German medical device company that focuses on the implant of new aortic valves, has raised a hefty €19m from in a series B round of financing. Belgian private equity firm led the round and was joined by Atlas Venture, Edmond de Rothschild Investment Partners, Neomed Management, VI Partners and Sunstone Capital.

• GEM Benelux closes on €200m hard cap 22 Mar 2010. Source: AltAssets. Private equity firm Gilde Equity Management Benelux has wrapped up a first and final close of latest fund, GEM Benelux II, on its target and hard cap of €200m. The fund will maintain its predecessor’s strategy of targeting smaller mid-market buy-out transactions in the Benelux region.

• Belgian PE firm Gimv closes fund on €609m 16 Mar 2010. Source: AltAssets. Listed private equity firm Gimv has closed its Gimv-XL fund on €609m, making it “the largest initiative of its kind in Belgium”.

• Aquiline Capital Partners leads €50m round in Clear2Pay, Gimv exits investment 07 Dec 2009. Source: AltAssets. Aquiline Capital Partners, a New York-based private equity firm investing in the financial services sector, has led an investment round in Clear2Pay, an online payments service provider. The investment, which also includes funds from current Clear2Pay investors, will provide the company with €50m to fund its next stage of growth and potential strategic acquisitions.

• Belgian bank KBC to divest private equity unit as part of bail out 19 Nov 2009. Source: AltAssets. Belgian bank and insurer KBC Group is offloading its private equity unit as part of a restructuring plan that has seen the Belgian and Flemish governments extend aid.

• Belgian private equity firm Vendis Capital raises €55m for first close of first fund 19 Oct 2009. Source: AltAssets. Vendis Capital, a Belgian private equity firm that operates in the retail and consumer space, has held the first closing of its debut fund on €55m, and plans to push its fund to a target of €100m.

• RHJI acquires UK wealth manager Kleinwort Benson from Commerzbank for £225m 15 Oct 2009. Source: AltAssets. Belgian investment firm RHJ International has acquired Kleinwort Benson, a UK provider of private banking and wealth management services from Commerzbank for £225m (€245.7m). The deal includes Kleinwort Benson’s banking arm and its Channel Islands holding company.

• HSBC, Sofina expected to lead £54.3m share offering in French industrial materials producer Carbone Lorraine 22 Sep 2009. Source: AltAssets. French private equity group AXA Private Equity and Belgian private equity firm Sofina are expected to lead a €60m (£54.3m) share offering by French graphite solutions and electrical components supplier Carbone Lorraine. The firms are the two biggest shareholders in the company, and are expected to commit to their full share allocations according to Carbone Lorraine, who also predict that investment giants HSBC and Société Générale will take a significant portion of the new shares.

• Dutch private equity firm Gilde Buyout Partners holds first closing on €217m 22 Sep 2009. Source: AltAssets. Dutch private equity firm Gilde Buyout Partners has secured a first closing of €217m for its fourth fund, according to reports.

• CapMan sells investments and commitments in its own funds to Gimv 07 Aug 2009. Source: AltAssets. Listed alternative asset manager CapMan will sell €17m worth of fund investments and commitments in its own funds in a secondaries deal that marks a transaction between GP and GP.

• US energy storage technology company Solicore closes first phase of Series D round 29 Jul 2009. Source: AltAssets. Solicore Inc, a developer, manufacturer and supplier of ultra-thin, flexible lithium polymer batteries, has closed the first phase of its Series D preferred stock financing round. The company has raised $12.2m to date in this round and expects a second closing within three weeks that will bring the total of the Series D round to approximately $13.3m.

• Just-Eat completes £10.5m Series A funding 13 Jul 2009. Source: AltAssets. Just-Eat, a European site for ordering meals online, has closed its first institutional financing. European venture capital firm Index Ventures led the £10.5mn round, with Venrex Investment Management and existing shareholders also participating. The capital will be used to consolidate the company’s leadership position in the UK and to expand into additional territories across Europe, the company said.

• Belgian RHJ shows renewed interest in Vauxhall 01 Jul 2009. Source: AltAssets. Brussels-based private equity firm RHJ International has shown renewed interest in acquiring a controlling stake in troubled car manufacturer Vauxhall/Opel, the Guardian reports.

• Candover approached for Belgian nappy business 30 Jun 2009. Source: AltAssets. Candover has been approached by a number of potential bidders for its Belgian personal hygiene business, Ontex, the Financial Times reports.

• Belgian private equity firm Gimv holds second close of Gimv-XL on €560m 23 Jun 2009. Source: AltAssets. Gimv, a Belgian private equity firm, has received a further €60m for the second close of its Gimv-XL fund, with new commitments from Dexia Bank, ING Belgium and Ethias.

• Gimv hires cleantech advisor 03 Apr 2009. Belgian private equity firm Gimv has appointed Marc Van Sande to the advisory board of Gimv Technology.

• Belgian private equity firm Gimv invests €75m in food company Vandemoortele 30 Mar 2009. Gimv, the Belgium-based private equity and venture capital firm, has agreed to invest €75m in Vandemoortele Group, a Belgian food company.

• Gimv appoints head of XL fund 09 Feb 2009. Source: AltAssets. Belgium-based private equity and venture capital firm Gimv has appointed Peter Maenhout to head its XL fund as executive vice president. In his new role he will also oversee the firm’s Belgian buy-out and growth capital activities.

• Siparex exits investment in electrical equipment manufacturer 30 Jan 2009. Source: AltAssets. French private equity firm Siparex Group has sold its stake in Belgian electrical equipment group Guillaume Teco to Benelux-focused private equity firm BV Capital Partners.

• Gimv holds €500m first closing on XL fund, invests in cleantech company 19 Dec 2008. Source: AltAssets. Belgian listed private equity firm Gimv has completed the first closing of its XL fund on €500m. The firm has also invested €25m in cleantech company Electrawinds.

• GIMV appoints Koenraad Dejonckheere as CEO 15 Jul 2008. Source: AltAssets. Belgian venture capital firm GIMV has appointed Koenraad Dejonckheere as its new CEO, replacing Dirk Boogmans.

• 3i sells ABX to DSV 23 Jun 2008. Source: AltAssets. 3i and other shareholders have agreed to sell XB Luxembourg Holdings 1, the parent of the Brussel-headquartered freight forwarder ABX LOGISTICS Worldwide Group. The aggregate price of the entire share capital, on a debt and cash free basis (enterprise value) is €750m.