April Deals
| Belgium Finland France Germany Ireland | Israel Italy Luxemburg Norway Spain | Sweden Switzerland The Netherlands United Kingdom United StatesUS/UK |
| Target | Equity Leader |
| Belgium | |
| Ablynx | Abingworth Management, Alta Partners, Biotech Fund Flanders, Gilde, GIMV, Sofinnova Partners |
| Business Type: Camel antibodies for therapeutics developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Jean Deleage, MD of Alta Partners & John Berriman, director of Abingworth Management Equity Amount: €25m Total Deal Value: €25m Other Advisers: Undisclosed |
| Country Code: BEF Sector Code: ZYXA1 | |
| Jean Deleage, MD of Alta Partners, and John Berriman, director at Abingworth Management, have led the series B preferred stock financing of Ablynx with a value of €25m together with exisiting shareholders GIMV, Biotech Fund Flanders, Sofinnova Partners and Gilde. The company is a pioneer in the discovery and development of a novel class of therapeutic antibodies known as nanobodies. The structure and extreme stability of nanobodies enables them to engage therapeutic targets that are inaccessible to conventional antibodies. Nanobodies therefore address the strong and growing demand for improved therapeutics for serious and life-threatening diseases and have the potential to create new market opportunities beyond those accessible to conventional antibodies. Since commencing operations in 2002, Ablynx has generated nanobody leads against a number of human disease targets across a wide range of therapeutic areas. Two of these leads are now in pre-clinical development, and Ablynx’s first therapeutic programme is expected to enter human clinical trials in 2005. The financing provides Ablynx with the resources to continue development of novel and potent drug candidates and to advance its lead nanobodies toward human clinical trials next year. | |
| Finland | |
| Meridea Financial Software Oy | Nordic Venture Partners, 3i |
| Business Type: E-banking software developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Jukka Rauhala, partner, Nordic Venture Partners Equity Amount: €10m Total Deal Value: €10m Other Advisers: Undisclosed |
| Country Code: FIM Sector Code: ZYXB2 | |
| Jukka Rauhala, partner for Nordic Venture Partners, has led the €10m expansion round of finance in Meridea together with existing investors 3i and Sampo. Founded in 2001 by industry leaders Accenture, Nokia, the financial group Sampo and 3i are headquartered in Helsinki. Meridea develops e-banking software for financial institutions. Its Meridea Product Suite is a complete software package for customer interaction management (CIM), which offers genuinely customer-oriented services through multiple channels. Meridea employs 100 people and has sales force in Scandinavia, Benelux, Germany, the UK and Singapore. Financing from the round will be used for development of sales activities in core target markets in the Nordic countries, Central and Western Europe and Asia. | |
| Finland/The Netherlands/Central Europe | |
| Yellow Brick Road | 3i, Veronis Suhler Stevenson |
| Business Type: Telephone directories operator Deal Type: MBO Debt Leader: CIBC, ABN AMRO, BNP Paribas Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Jonathan Russell, executive director of 3i & Marco Sodi, partner and head of Veronis Suhler Stevenson Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Financial: Goldman Sachs |
| Country Code: FIM Sector Code: ZYXB5 | |
| Jonathan Russell, executive director for 3i, and Marco Sodi, partner and head of Veronis Suhler Stevenson, have led the MBO of Fonecta, Telefoongids and Mediatel, three leading telephone directories companies, respectively, in Finland, The Netherlands and Central Europe (Austria, Czech Republic and Slovakia.) The merger of the three companies will lead to a pan European directories group, called Yellow Brick Road. 3i and Suhler Stevenson initiallly invested a total of €280m in the three businesses with the combined business expected to generate proceeds in excess of the original investment including EBITDA expected to reach €160m as it will conduct business in several high growth geographies. The group’s strategic considerations for the future are to grow organically and through follow-on acquisitions. | |
| France | |
| Boonty | OTC Asset Management |
| Business Type: Video game downloading platform developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Jean Marc Palhon, MD, OTC Asset Management Equity Amount: €2m Total Deal Value: €2m Other Advisers: Chausson Finance |
| Country Code: FRF Sector Code: ZYXB8 | |
| Jean Marc Palhon, MD for OTC Asset Management, has led the €2m expansion round of financing in Boonty. OTC Asset Management also provided €1.5m in equity alongside other undisclosed private investors. Founded in 2000 and based in Paris, Boonty has developed a video game downloading platform designed for major Internet portal and ISPs, including Yahoo, Wanadoo, Club-Internet and Tiscali. The downloading platform operates via the Internet incorporating rights, payment and clearing management and game content functions and is designed for major Internet portal, e-tailer and ISPs. Its catalogue contains almost 200 games targeted at the mass gaming market.The funding will be used for international expansion and will allow the company to expand its partnerships with publishers expanding the existing catalogue to over 500 games. | |
| Diana Ingredients | Electra Partners Europe |
| Business Type: Food and pharmaceutical industry natural ingredient product provider Deal Type: MBO Debt Leader: BNP Paribas Debt Leader (individual): Yves Vanel, BNP Paribas Other Advisers: Undisclosed | Equity Leader (individual): Jean Ducroux, MD, Electra Partners Equity Amount: €115m Total Deal Value: €270m Other Advisers: Strategic due diligence: Advention, Financial due diligence: PricewaterhouseCoopers, Legal and tax: Ashurst |
| Country Code: FRF Sector Code: ZYXB4 | |
| Jean Ducroux, MD for Electra Partners, has led the MBO of Diana Ingredients from BNP Paribas for €270m. Diana Ingredient was totally owned by BNP Paribas and managed by PAI Partners with 85% of Diana Ingredient’s capital now owned by Electra Partners Europe and 15% by the management. Headquartered in Vannes, Diana Ingredient operates in the sector of natural ingredients for agricultural and food processing and pharmaceutical industries. Diana Ingredients employs around 850 people, operates 14 plants and distributes its products in Europe, Latin America, Australia and Eastern Europe. Products provided by the group also include an aromatic range, pet food range, colouring range and health range. | |
| Immutep | Innoven Partenaires |
| Business Type: Biopharmaceutical company Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Undisclosed Equity Amount: €2.5m Total Deal Value: €2.5m Other Advisers: Undisclosed |
| Country Code: FRF Sector Code: ZYXA1 | |
| Immutep has raised €2.5m in an expansion round of finance from Innoven Partenaires. Immutep is biopharmaceutical company that develops T-cell response-based immunotherapeutics against cancer and infectious diseases like HIV. The technology is based on derivatives of a human protein (LAG-3), which acts as a powerful stimulant of Antigen Presenting Cells. The funding will be used for ongoing product development to develop novel therapeutic vaccines. | |
| Varioptic | PolyTechnos Venture Partners, Soffinova Partners |
| Business Type: Optical lense designer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Knut Heitmann, founding partner of PolyTechnos, Dirk Kanngiesser, founder and managing partner of PolyTechnos & Alain Rodermann, partner of Sofinnova Equity Amount: €10m Total Deal Value: €10m Other Advisers: For PolyTechnos: Legal, Jakoby (Christian Franz, Velten Franz) |
| Country Code: FRF Sector Code: ZYXA9 | |
| Dirk Kanngiesser, founder and managing partner for PolyTechnos, and Alain Rodermann, partner from Sofinnova, have led the €10m series B financing in Varioptic. Soffinova invested €4m and PolyTechnos €6m. Headquartered in Lyon and founded in 2002, Varioptic designs and commercialises electrically controlled optical liquid lenses based on liquid interface technology that can focus and zoom for applications in research, camera’s for mobile devices, webcams and PDA’s, video camera equipment and medicine (Endoscopy.) Technology has been developed after 10 years research at Universite Joseph Fourier and Ecole Normale Superieure de Lyon. Benefits of the autofocus lense technology are that it does not use mechanical moving parts and uses substantially less energy than traditional lense solutions. The funding will be used to develp the company including R&D, sales, marketing and manufacturing. | |
| Germany | |
| Dynamit Nobel | Credit Suisse First Boston Private Equity, Kohlberg Kravis Roberts |
| Business Type: Chemical and material treatment products developer Deal Type: Acquisition Debt Leader: n/a Debt Leader (individual): Undisclosed Other Advisers: For Rockwood: Debt facilitation: CSFB, Goldman Sachs, UBS | Equity Leader (individual): Susan Schnabel, MD of CSFB Private Equity Equity Amount: Undisclosed Total Deal Value: €2.5bn Other Advisers: For MG Technologies: Dresdner Kleinwort Wasserstein, Lazard |
| Country Code: DEM Sector Code: ZYXA4 | |
| Kohlberg Kravis Roberts and Credit Suisse First Boston Private Equity have backed the acquisition of Dynamit Nobel for €2.5bn by Rockwood. KKR and CSFB Private Equity are funding the acquisition of the four Dynamit Nobel’s units, namely Sachtleben, Chemetall, CeramTech and DNES Custom Synthesis through a capital increase of Rockwood. The four units of Dynamit Nobel focus on niche market products, including white pigments, surface treatment and lithium chemicals, ceramics and pharmaceutical intermediaries. By selling the business with an annual revenue of €1.5bn, MG Technologies eliminates its debt, which totalled €959.7m at the end of last year and can focus on engineering. KKR is combining Rockwood and Dynamit Nobel to prepare the newly created company with combined annual sales of more than €2.3bn for an IPO. | |
| P21 | CDC Ixis Innovation, Conduit Ventures, Target Partners, TechFund Capital Europe |
| Business Type: Uninterupted hydrogen power fuel cells developer Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): John Butt, managing partner, Conduit Ventures Equity Amount: €6m Total Deal Value: €6m Other Advisers: Undisclosed |
| Country Code: DEM Sector Code: ZYXC2 | |
| John Butt, managing partner at Conduit Ventures, has led the early stage round of financing for P21 totalling €6m together with Target Partners, TechFund Capital Europe and CDC Ixis Innovation. P21 develops, produces and sells uninterrupted hydrogen power fuel cells. P21 is focused on the development, production and sales of high quality fuel cell systems and their components around PEM (Polymere Electrolyte Membrane.) Robust industrial fuel cell technology in combination with applications and services in the range between 1 kW and 21 kW will enable P21’s leadership in the European market. The company is a spin-off from Vodafone Mannesmann Group, with fuel cells designed to provide uninterupted power supplies for base stations in mobile phone networks. The proceeds of the funding will be used to accelerate the product development and further testing in order for P21 to become a leader in the envisioned market segment of emergency power systems with small and medium output in Europe and in the long term globally. | |
| Ireland | |
| Web Reservations International Ltd | Summit Partners |
| Business Type: Online bookings and reservations technology provider Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Scott Collins, partner, Summit Partners Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Undisclosed |
| Country Code: IEP Sector Code: ZUXB8 | |
| Scott Collins, partner at Summit Partners, has arranged the expansion round of finance in Web Reservations International Ltd, a provider of online booking and reservation technology for an undisclosed sum. Founded in 1999 and based in Rathmines, Web Reservations International Ltd is a provider of online reservations technology. The company provides technology for online reservations and bookings for the budget, independent and youth travel sector. The offering comprises of confirmed online reservations for hotels and budget hotels including reservations for adventure holidays, activities, and tours for the budget traveler market. A network of over 5,000 hostels and budget hotels has been built since the company’s inception which generated more than 3 million bed/night bookings and over 30 million visitors to its range of websites, affiliate websites and hostel sites. Funding will be used to expand the company’s business service offering to add value to its customer proposition. | |
| Israel | |
| Business Events Software Solutions | Advent International, Gemini |
| Business Type: Enterprise software solutions developer Deal Type: Seed Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Chen Amit, executive-in-residence, Gemini Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Undisclosed |
| Country Code: ILS Sector Code: ZYXB8 | |
| Chen Amit, executive-in-residence with Gemini, has led the seed financing in Business Events Software Solutions for an undisclosed sum together with Advent International. Business Events Software Solutions develops an enterprise software solution that, with minimal effort, can identify unique and valuable events affecting an enterprise’s business. Through beta testing with a leading consumer packaged goods company, the enterprise software solution has been able to identify a data interchange problem with the company’s current system, therefore providing considerable cost savings against losses for the company. Primarily solutions provide a solution to businesses operating with heavy information usage enabling them to save money in the business process. The funding helped staff Business Events’ senior management, appoint key board members and attract Rick Kreysar to the board. | |
| Dune Medical Devices Ltd | Apax Partners |
| Business Type: Surgical oncology technology and products developer Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Amos Goren, partner, Apax Partners Israel Equity Amount: €4.1m Total Deal Value: €4.1m Other Advisers: Undisclosed |
| Country Code: ILS Sector Code: ZYXB8 | |
| Amos Goren, partner at Apax Partners Israel, has led the early stage round of finance of €4.1m in Dune Medical Devices together with the existing seed investors Zeev Mozes Group, the Reich family and additional investors. Based in Caesarea, Dune Medical Devices develops surgical oncology technology and products. The company develops surgical oncology technology products and products for the surgical treatment of cancer. The proceeds of the funding will be used to accelerate R&D and to bring the company closer to turning its surgical cancer treatment technology into solutions and products in the field of surgical oncology. | |
| VCON | Catalyst, Genesis, Index Ventures, Pitango, SFK |
| Business Type: Visual communications solutions provider Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Undisclosed Equity Amount: €8.4m Total Deal Value: €8.4m Other Advisers: Undisclosed |
| Country Code: ILS Sector Code: ZYXB9 | |
| Index Ventures and Pitango have led the private placement of V CON’s shares for € 8.4m together with Genesis, Catalyst and SFK. The investors paid in total €8.4m in cash to V CON in consideration for the issuance of 14,880,953 ordinary shares of V CON, reflecting a purchase price of approximately € 0.56 per share. The issuance of these shares results in V CON having 32,016,648 ordinary shares in issue. The two shareholders Index Ventures and Pitango hold approximately 24%, respectively, 22% of V CON’s share capital and the total number of shares held by the public through Euroclear now represents approximately 25% of V CON’s share capital. V CON intends to apply for the listing of the newly issued shares on Le Nouveau Marche. For the purpose of such listing a prospectus describing the transaction will be submitted to the Autorite de Marches Financiers for approval. | |
| Wisair Ltd | Intel Capital |
| Business Type: Solution based on UWB technology provider Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Undisclosed Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Undisclosed |
| Country Code: ILS Sector Code: ZYXB8 | |
| Intel Capital has provided an undisclosed sum of financing to Wisair Ltd through an expansion round of finance. Founded in June 2001 and headquartered in Tel-Aviv, Wisair Ltd provides a chipset solution for high performance wireless communications, based on the UWB (Ultra Wide Band) technology. Wisair’s UWB chipset enables low cost, low power and high bit-rate communication modules and system solutions for the fast emerging home and office connectivity for video, audio and data applications. Chips can be installed in a wide variety of appliances such as DVDs, PDAs, TVs, camcorders and digital cameras. Furthermore technology is an enabling element for applications requiring high throughput, such as video streaming to digital TV, DVDs and set top boxes. | |
| Italy | |
| Wellnet SpA | Henderson Private Equity |
| Business Type: Health and fitness centre operator Deal Type: MBO Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Toby Boyle, Roberto Italia, Walter Moldon, partners at Henderson Private Capital Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: For Henderson: Legal, Delfino & Associati – Willkie Farr & Gallagher, Tax consultancy, Puri lawfirm, For Wellnet SpA: Legal, Lombardi, Molinari & Associati, Financial: Ernst & Young, PricewaterhouseCoopers |
| Country Code: ITL Sector Code: ZYXB3 | |
| Toby Boyle, Roberto Italia and Walter Moldon, partners for Henderson Private Capital, have led the MBO of Wellnet SpA for an undisclosed sum. Wellnet SpA is the first Italian health and fitness centre chain. Based in Milan, the company operates a network of 14 well being and fitness centers under the Tonic brand. These fitness, beauty and relaxation clubs have more than 30,000 members in Rome, Milan, Ascoli, Teramo and Terni. Wellnet SpA plans to accelerate its expansion plans in Italy and across Europe to become one of the principal players in Europe. | |
| Luxembourg | |
| Star Parks Luxembourg HoldCo | Palamon Capital Partners |
| Business Type: Family theme park operator Deal Type: MBO Debt Leader: Hypovereinsbank Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Miles Creswell-Turner, partner, Palamon Capital Partners Equity Amount: Undisclosed Total Deal Value: €155m Other Advisers: Undisclosed |
| Country Code: LUF Sector Code: ZYXB3 | |
| Miles Creswell-Turner, partner at Palamon Capital Partners, has arranged the €155m MBO of Six Flags European division with Hypovereinsbank providing senior and mezzanine debt for the transaction. The European business that has been bought out from Six Flags will be renamed Star Parks Luxembourg HoldCo and will continue to operate various theme parks and attractions accross Europe. Star Parks Luxembourg will operate a group of theme parks including seven large format sites located in Germany, Holland, Belgium and France comprising of family attractions, family rides and activities with a number of the parks operating under the Walibi brand. Over 5.5 million people visited European theme parks in 2003, generating revenue of approximately €120m and EBITDA of €26m. William Muirhead, executive vice president and MD Europe for Six Flags will assume the role of CEO and Michael Jolly, former chairman and CEO of the Tussauds Group, has joined as non executive chairman. | |
| Norway | |
| Funcom NV | Northzone Ventures, Technoinvest |
| Business Type: Computer and console games developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Torleif Ahlsand, partner, Northzone Ventures Equity Amount: €4.5m Total Deal Value: €4.5m Other Advisers: Undisclosed |
| Country Code: NOK Sector Code: ZYXB8 | |
| Torleif Ahlsand, partner for Northzone Ventures, has led the €4.5m expansion round of financing in Funcom alongside existing investors Teknoinvest and Stelt Holding. Founded in 1993 and headquartered in Olso, Funcom NV is a leading developer and publisher of computer and console games. The company provides the market with electronic entertainment and has in close co-operation with Disney and Sony Computer Entertainment developed games including Pocahontas, Casper and Speed Freaks. Fencon employs around 130 people in the US and Europe and has developed more than 23 games to date. The funding will be used to further increase the scope and quality of the future massively multiplayer online role playing games while increasing the company’s sales and marketing capabilities. | |
| Spain | |
| DMR Consulting | Apax Partners |
| Business Type: IT business solutions provider Deal Type: MBO Debt Leader: EBN – Sociedad Espanola De Banca De Negocios Probanca Debt Leader (individual): Francisco Gonzalo Iglesias, Alvaro Aguilar (EBN – Sociedad Espanola De Banca De Negocios Probanca) Other Advisers: Allen & Overy (Ignacio Ruiz-Camara) | Equity Leader (individual): Javier Abad, director, Apax Partners Equity Amount: €22m Total Deal Value: Undisclosed Other Advisers: For DMR Consulting: Financial, FManagers (Jose Garay) Legal, Cuatrecasas (Florentino Carreno, Fernando Vivar) For Apax Partners: Uria Menendez (Candido Paz-Ares and Eduardo Rodriguez Rovira) |
| Country Code: ESP Sector Code: ZYXB8 | |
| Javier Abad, director of Apax Partners, has arranged the MBO of DMR consulting from Fujitsu Consulting providing a total €22m equity financing for the transaction. The management team will own 54.7%, Apax partners funds 38.3% and financial managers 7% of the company. Founded in 1996 and headquarterd in Madrid, the company provides information technology consulting services to the telecommunications, media, financial services, insurance, manufacturing, retail industries, energy and public administration sectors. The company operates from offices in Spain, Austria, Germany, Italy, Portugal, Argentina, Brazil, Chile and Mexico. The acquisition enables the company to consolidate its business model, which has enabled it to realise turnover of €160m in seven years, a 22.4% increase on the previous years figures. The company now employs 2,600 professionals positioning it as one tof the leading consultanices in it’s geographic region. | |
| Segur Iberica | Corpfin Capital, Espiga Capital, Nmas1 Private Equity |
| Business Type: Security system provider Deal Type: Secondary MBO Debt Leader: Royal Bank Scotland, Credit Lyonnais Debt Leader (individual): Beltran Paredes (Royal Bank Scotland), Javier Gonzalez-Tovar (Credit Lyonnais) Other Advisers: Undisclosed | Equity Leader (individual): Juan Cuesta, Fernando Trueba, Corpfin Capital Equity Amount: Undisclosed Total Deal Value: €52.5m Other Advisers: For the sellers: Financial, Nmas1 Corporate Finance, Legal, Araoz y Rueda (Albinana Suarez de Lezo, Perez Llorca) Due diligence, Deloitte, Confirmatory due diligence, PwC, Insurance, AON Gil, For the buyers: Legal, Garrigues |
| Country Code: ESP Sector Code: ZYXB6 | |
| Corpfin Capital, Nmas1 Private Equity and Espiga Capital have co-led the acquisition of the Spanish security business Segur Iberica in a deal totalling €52.5m through a secondary buyout transaction. The company has been acquired from 3i and MCH Private Equity with Nmas1 and Corpfin Capital acquiring 36.2% stakes in the company with co-investor Espiga Capital and existing investor MCH holding 24.7% stakes in the company. The remaining 2.9% is held by the company’s management. 3i and MCH bought a combined 70% holding stake in the company in 1978 that acquired two small company’s during the last year. The company operates a group of security company’s providing security services including the installation of security system alarms. Furthermore the company designs, installs, markets, and maintains security systems and alarms primarily to serve large security projects. | |
| Servicio e Urgente de Transporte SA (SEUR Madrid) | Bridgepoint, JP Morgan |
| Business Type: Express delivery services provider Deal Type: Acquisition Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Jose Maria Maldonado, partner of Bridgepoint & Timothy Purcell, MD of JP Morgan Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: For SEUR: Financial, JP Morgan, Legal, Garrigues For Bridgepoint: Financial, Eneas Corporate Finance, legal, Linklaters and Estudio Juridico Castellana, For JP Morgan Partners: Financial, Socios Financieros, Legal, Linklaters and Estudio Juridico Castellana |
| Country Code: ESP Sector Code: ZYXB6 | |
| Jose Maria Maldonado, partner at Bridgepoint, and Timothy Purcell, MD at JP Morgan, have arranged the acquisition of a 21% stake in Servicio e Urgente de Transporte SA (SEUR Madrid) for an undisclosed sum. Founded in 1942 and based in Madrid, the company provides express delivery services on the Iberian peninsula acting as a courier for parcels and other postal service offerings. The group operates in 225 towns with more than 330 points of sale in Spain and Portugal offering 100% coverage of the Iberian peninsula. SEUR Group is the market leader in the Spanish express delivery market with a 31% market share in the courier sector achieving sales in excess of €115m in 2003. The transaction provides the company with stronger financial capabilities to further consolidate growth in domestic markets. | |
| Sweden | |
| Appium AB | InnovationsKapital, Nordic Venture Partners |
| Business Type: Next generation telecommunication application platforms operator Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Robert Gothner, investment director of InnovationsKapital & Laurence Michael McDonald, partner of Nordic Venture Partners Equity Amount: €4.9m Total Deal Value: €4.9m Other Advisers: Undisclosed |
| Country Code: SEK Sector Code: ZYXB8 | |
| Robert Gothner, investment director for InnovationsKapital, and Laurence Michael McDonald, partner for Nordic Venture Partners, have led the €4.9m early stage round of financing in Appium AB. Founded in 1992 and based in Malmo, Appium is one of the leading vendors of next generation telecommunication application platforms and applications for the converging IT and telecom market. Appium AB delivers a telecom application platform and service creation environment for the OSA/Parlay market, including application development, validation, testing, deployment and provisioning components through alliances with gateway providers to offer all the tools required by network operators in the service lifecycle. The funding will be used for sales, marketing and delivery capacity expansion to exploit the OSA/Parley infrastructure products field. | |
| Net Insight | Constellation Ventures |
| Business Type: Video, voice and data networking equipment provider Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Clifford Friedman, MD, Constellation Ventures Equity Amount: €7m Total Deal Value: €7m Other Advisers: Undisclosed |
| Country Code: SEK Sector Code: ZYXB8 | |
| Clifford H Friedman, MD for Constellation Ventures, has led the €7m expansion round of finance in Net Insight AB. Constellation Ventures will subscribe to 31 million shares of series B financing round at 2.1 SEK per share and 9.8 million warrants with a strike price of SEK 2.41. This transaction is subject to approval by an extra shareholder meeting. Friedman will join the board of directors. Founded in 1997 and based in Stockholm, Net Insight develops and commercialises video, voice and data networking equipment that combines 100% QoS with maximum bandwidth utilisation for broadcast and broadband markets. Benefits of the customer solution include significantly reduced CAPEX and OPEX, which protects and enhances clients existing infrastructure investment, while providing the ability to launch new revenue-generating services. | |
| Pharmacia Diagnostics | PPM Ventures Ltd, Triton |
| Business Type: Blood systems manufacturer Deal Type: MBO Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Matthew Turner, director, PPM Ventures Equity Amount: €486.5m Total Deal Value: €486.5m Other Advisers: Undisclosed |
| Country Code: SEK Sector Code: ZYXB4 | |
| Matthew Turner, director of PPM Ventures, has led the €486.5m MBO of Pharmacia Diagnostics from Pfizer Inc together with Triton. Headquartered in Uppsala, Pharmacia Diagnostics develops, manufactures and markets complete blood test systems to support the clinical diagnosis and monitoring of allergy, asthma and autoimmune diseases. Supplying more than 3,000 laboratories in 60 countries, Pharmacia Diagnostics has remained the world leader in its field for more than 25 years. The company employs around 700 people in Uppsala and Freiburg with more than 400 working for the company’s own sales and support subsidiaries in 19 countries around the world. Strategic considerations for the future are to focus on organic growth and acquisition opportunities. | |
| Switzerland | |
| Modular NV | CVC Capital Partners |
| Business Type: Architectural lighting specialist Deal Type: Acquisition Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: Undisclosed | Equity Leader (individual): CVC Capital Partners Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Undisclosed |
| Country Code: CHF Sector Code: ZYXB6 | |
| CVC Capital Partners has led the acquisition of Modular NV for an undisclosed sum. CVC Capital Partners plans to incorporate the company into the newly created pan European group Partners in Lighting International (PLI), a company that is set up to operate in Europe’s fragmented lighting fixtures market. Modular NV is a specialist in architectural lighting operating in the lighting fixtures and fittings market that is now worth over €11bn per annum and segmented in the three key areas of mass consumer fixtures, wholesale fixtures and the premium architectural lighting segment. The company’s business concept allows it to work in collaboration with architects to fit out complete buildings with light fittings. | |
| The Netherlands | |
| Agendia BV | AXA Private Equity, Gilde Investment Management, Global Life Sciences |
| Business Type: Breast cancer test developer Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Pieter Van der Meer, Gilde Investment Management Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Legal: Clifford Chance |
| Country Code: NLG Sector Code: ZYXA9 | |
| Gilde Investment Management has led the early stage round of finance in Agendia BV for an undisclosed sum together with Global Life Science and AXA Private Equity. Founded in 2003 and based in Amsterdam, the company provides cancer and tumour research. Agendia BV provides global gene expression profiling service based on DNA microarray technology for physicians and drug developers. Agendia provides high quality services based on micro-array genetic profiling technology, which allows analysing tumour samples for their complex intrinsic characteristics. Proceeds of the funding will be used to market the lead product, a microarray-based breast cancer test, and independently develop microarray-based test for various cancer diseases based on gene expression profiles. | |
| PCM Uitgevers NV | Apax Partners |
| Business Type: Dutch newspaper publisher Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Undisclosed Equity Amount: €700m Total Deal Value: €700m Other Advisers: For PCM: ING, For seller: Nielen van Schaik |
| Country Code: NLG Sector Code: ZYXB5 | |
| Apax Partners has led the acquisition of a two-third stake in PCM Uitgevers NV for approximately €700m. Candover, Providence Equity and Warburg Pincus handed in offers for PCM alongside Apax Partners. Besides the financial valuation of APAX, the offer was successful because of the common strategy the private equity firm and the now minority shareholders have and the rights given to the minority interest. The existing stakeholders ING, Aegon and NIB Capital are selling their interest in the company. PCM uitgevers NV publishes four of The Netherlands five main daily newspapers employing approximately 3,000 people and attaining sales of €695m in 2002. The titles Volkskrant, NRC Handelsblad, Algemeen Dagblad and Trouw have circulations totalling one million. PCM Uitgevers NV aims to extend the development of its existing titles, funds, methods and brands to strengthen its position as a leading publisher in the Dutch language and region. | |
| Royal Vendex KBB NV | AlpInvest Partners NV, Change Capital Partners LLP, Kohlberg Kravis Roberts & Co |
| Business Type: Retail group of non-food retailing activities operator Deal Type: LBO Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Undisclosed Equity Amount: Undisclosed Total Deal Value: €1.43bn Other Advisers: Undisclosed |
| Country Code: NLG Sector Code: ZYXB7 | |
| A consortium comprising Kohlberg Kravis Roberts, Change Capital Partners and AlpInvest has bid for all the outstanding shares at a price of €16 per ordinary share. The bid is subject to completion of negotiations on a merger protocol and subject to limited confirmatory due diligence. The involved parties entered into exclusive negotiations. | |
| UK | |
| Acolyte Biomedica Ltd | Partnership UK Angle Technology Ltd, Circus Capital |
| Business Type: Clinical microbiology diagnostic systems developer Deal Type: Start-up Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): David Mardle, partner, Partnership UK Angle Technology Ltd Equity Amount: €5.5m Total Deal Value: €5.5m Other Advisers: Legal: Taylor Wessing (David Mardle, Chris Young) |
| Country Code: GBP Sector Code: ZYXA9 | |
| Partnership UK Angle Technology Ltd and Circus Capital have arranged the €5.5m start-up financing in Acolyte Biomedica a developer of microbiology test systems. Founded in 2000 and based in Salisbury, the company develops proprietary diagnostic systems for clinical microbiology utilising the core platform technology Baclite, a diagnostic test system designed to automate and accelerate the speed of testing performed in clinical laboratory testing. Baclite technology produces results of tests within five hours as opposed to existing systems that provide results in three to four days. Further technology is being developed to identify the appropriate antibiotics for use in the treatment of serious blood infections. Funding will be used for ongoing development of technology to tackle hospital acquired infections by providing users with a rapid test result providing benefit to patient care and clinical outcomes. | |
| Alphamosaic | Prelude Trust plc, Doughty Hanson Technology Ventures, ACT Venture Capital, TTP Ventures |
| Business Type: Multimedia chip developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Alan Duncan, director, Prelude Trust plc Equity Amount: €7.6m Total Deal Value: €7.6m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB8 | |
| Alan Duncan, director of Prelude Trust plc, has arranged the €7.6m expansion round of finance in Alphamosaic Ltd a developer and provider of multimedia chips. The Prelude Trust Plc invested €540,000 in the latest round of finance taking it’s investment participation in the company to a total €7.7m representing a 25% stake in the company’s share capital. Co-investors Doughty Hanson Technology Ventures, ACT Venture Capital and TTP Ventures also participated in this latest round of finance. Founded in 2000 and based in Cambridge, the company designs and develops programmable multimedia and video-processing semiconductor technology. Technology is the first commercially available generic low-power video processor, VC01 can be used in handheld computers, security cameras, personal video products and mobile videophones.This latest round of funding will allow the company to accelerate development of new chips and software and provide capital for additional resources for further growth of the company. | |
| Apatech | MTI Partners |
| Business Type: Distinctive orthopaedic technologies developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): David Holbrook, partner, MTI Partners Equity Amount: €9.7m Total Deal Value: €9.7m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXA9 | |
| David Holbrook, partner at MTI Partners, has arranged the €9.7m expansion round of financing in Apatech, a specialist orthopaedic technology developer. Founded in 2001 as a spin out from Queen Mary University of London, Apatech has discovered how to manipulate synthetic calcium phosphates to facilitate bone repair and augmentation in orthapaedic surgery. ApaTech’s technology is based on extensive research to engineer the optimum structure for a safe, effective bone graft material that closely approximates natural bone and provides a scaffold for new bone growth. This research has resulted in a product with a unique combination of synthetic phase-pure hydroxyapatite with consistent micro and macroporosity and interconnectivity that has been shown to maximise favourable bone repair. The macroporosity facilitates the growth of blood vessels and maintains long term osseous integration; the microporosity stimulates cell differentiation and allows nutrient transfer to host bone. This latest round of funding will be used to exploit the company’s existing product position on a global scale enabling the company to position successfully for exit. | |
| Aspex Semiconductor | NewMedia Spark |
| Business Type: Fabless semi-conductor producer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Andrew Carruthers, NewMedia Spark Equity Amount: €8.4m Total Deal Value: €8.4m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXA5 | |
| Andrew Carruthers of NewMedia Spark has arranged the €8.4m expansion round of finance in Aspex Semiconductor, a fabless semiconductor company. This is the company’s second round of financing bringing total investment in the company up to approximately €11m. Based in High Wycombe, the company develops fabless semiconductors that are programmable specialised solutions additionally providing services designed to assist in the adoption of the Aspex solution. Software includes programmable processors with benefits provided including reduced development costs, time to market and reduced risk. Solutions can be applied to the imaging, communications and web services sectors. Funding will be used to accelerate the company’s international business development primarily through investing in sales and support infrastructure for targeting primarily the Japanese and North America. | |
| Autono-Med | Yorkshire Fund Managers |
| Business Type: Medical product supplier Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Tony Gouldbourn, CEO, Yorkshire Fund Managers Equity Amount: 75000 Total Deal Value: 75000 Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXA9 | |
| Tony Gouldbourn, CEO of Yorkshire Fund Managers, has arranged the €75,000 expansion round of finance in Autono-med through the South Yorkshire Investment Fund in the form of an unsecured loan. Based in Barnsley, the company supplies a range of medical aids sourced from manufacturers in the US for sale in UK markets including cast and bandage covers to compression supports.The company recently secured a contract to supply the NHS for a three year minimum period with its tight-seal cast and bandage protector across all UK NHS hospitals and trusts utilising NHS logistics. The seal cast protector allows users to take a bath or shower while keeping the limb dry and will also be made available through Sainsbury superstores later in the year. Funding will be used to increase the company’s marketing communications intitiatives in order to build awareness of the product offering and further grow sales with a market potential of approximately 4 million users each year. | |
| Blease Medical Holdings Ltd | 3i |
| Business Type: Anesthesia equipment supplier Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Undisclosed Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: For 3i: Corporate due diligence, Addleshaw Goddard (Lee Michael), Banking, Addleshaw Goddard (Alison Siddall) For Blease Medical Holdings Ltd: Hammonds |
| Country Code: GBP Sector Code: ZYXA9 | |
| 3i has invested in Blease Medical Holding Ltd in an expansion round of finance for an undisclosed sum through the provision of a loan note and share warrant. The company designs, manufactures, markets and supplies anaesthestic equipment for hospitals in the UK and abroad. | |
| Booler’s Biofuel | Yorkshire Fund Managers |
| Business Type: Bio-fuel producer Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Stan Wilson, Fiona Greaves, Yorkshire Fund Managers Equity Amount: 8900 Total Deal Value: 8900 Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXC2 | |
| Stan Wilson and Fiona Greaves of Yorkshire Fund Managers have arranged the €8,900 early stage round of finance through the South Yorkshire Microloan in Booler’s Biofuel. The company produces biofuel, which can be used in conjunction with or to replace traditional diesel oils. Oil is derived from vegetable oil which is cleaner and more environmentally friendly than traditional oils while further providing benefits of users not requiring to make alterations to existing engine designs. | |
| Brookhouse Holdings Ltd | Aberdeen Murray Johnstone Private Equity |
| Business Type: Aerospace materials and engineering provider Deal Type: BIMBO Debt Leader: Barclays Leveraged Finance Debt Leader (individual): Dave Rimmer, Chris Hurstfield, Lisa Thompson, Barclays Leveraged Finance Other Advisers: Hammonds (Gregg Davison) | Equity Leader (individual): Paul Newton, Andy Lees, Mike Rogan Aberdeen Murray Johnstone Private Equity Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: For Aberdeen Murray Johnstone Private Equity: Corporate finance (Paul Lupton, Aziz Al-Haq, Stuart Russell) and Due diligence, Deloittes (Richard Bell, Tom Faichnie, Tim Ewing) Legal, Addleshaw Goddard (Jin Tully, Geoff Yates, Paul Medlicott), Commercial due diligence, KPMG (Roger Penney, Chris Croft) For the vendor: Corporate Finance, Ernst & Young (Ken Williamson, Rob Kenmare, Helen Spence, Charlotte Ellis), Tax advice, KPMG (Chris Fray, Ian Thrustle), Legal advice, Eversheds (David Bowcock, Anne McCullogh, Gerard McTernan) For management: Legal advice, Halliwel Landau (Rebecca Grisewood, Kate Richards, Tony Hennessy) |
| Country Code: GBP Sector Code: ZYXC1 | |
| Paul Newton, Andy Lees & Mike Rogan of Aberdeen Murray Johnstone Private Equity have arranged the BIMBO of Brookhouse Holdings Ltd for an undisclosed sum. Barclays Leveraged Finance provided long term debt and working capital and asset finance facilities with clients of AMJPE investing €9m in the transaction and the vendors Peter and Barry Turner retaining a small stake. Founded in 1951 by the Turner Family and based in Darwen Lancashire, Brookhouse operates as a holding company providing high performance composite tooling and components, lightweight metallic components, structures and ground support equipment to military and civil aircraft manufacturers as well as to non-aerospace markets. Brookhouse Holdings Ltd has additional operational sites in Hyde, Greater Manchester and Huntingdon employing approximately 140 people serving an international customer base across the automotive engineering, machine tools and telecommunication sectors. Gary Tipper of Aberdeen Murray Johnstone Private Equity will join the board. | |
| Cascade Technologies | Scottish Equity Partners |
| Business Type: Anti-terrorism technology developer Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: Undisclosed | Equity Leader (individual): Rob Moffat, Scottish Equity Partners Equity Amount: €1.5m Total Deal Value: €1.5m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB8 | |
| Rob Moffat of Scottish Equity Partners has arranged the €1.5m early stage round of finance in Cascade Technologies Ltd. Based in Glasgow and founded in January 2003 as a spin out from Strathclyde University Incubator Ltd, the company designs and manufactures gas detection technologies that utilises lasers and detectors to sense changing light intensity as the laser light passes through gases. Gas detection sensors provide results up to one million times per second and ultra high sensitivity for target gas making it over 5,000 times more sensitive than a dogs senses. Technology is designed for use in an anti-terrorism role for the detection of harmful gases and chemicals. The market for gas sensing is £7.1bn (excluding niche markets enabled by the new level of performance.) The markets for the platform are numerous and include; security, military, oil and gas, automotive, aerospace, medical diagnostics, laboratory instrumentation, environmental monitoring and space exploration. Funding will be used for the purposes of developing its sales and marketing along with the final steps in manufacturing the laser driver unit and the portable prototype gas sensing system. | |
| Clubhaus | Legal & General Ventures Limited |
| Business Type: Fitness, health and beauty and accommodation provider Deal Type: Acquisition Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Legal & General Ventures Equity Amount: €24.6m Total Deal Value: €24.6m Other Advisers: For Legal & General Ventures: Financial: KPMG corporate finance, For Clubhaus: Financial, Rowan Dartington |
| Country Code: GBP Sector Code: ZYXA9 | |
| Legal & General Ventures has backed the offer of Park Lane to acquire all the shares of Clubhaus for 0.165 pence in cash for each ordinary share for a total deal value of €24.6m. Under the deal the company is proposing a capital reorganisation, which sees each existing ordinary share sub-divided into one new ordinary share and one deferred share. The independent director of Clubhaus advised holders of ordinary shares to accept the offer; otherwise there is a significant risk the company will be forced to file for bankruptcy. Based on the offer, noteholders would receive approximately €22.4m, which represents a discount to the face value of the notes (including accrued interest of 19.1%.) Clubhaus provides sports facilities for the whole family ranging from golf, health and fitness, health and beauty and accommodation. The offer is subject to shareholders’ acceptance. | |
| DCP Systems Ltd | Yorkshire Fund Managers |
| Business Type: Wide format digital colour printer systems supplier Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: Undisclosed | Equity Leader (individual): Allan Wood, investment manager, Yorkshire Fund Managers Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB8 | |
| Allan Wood, investment manager of Yorkshire Fund Managers, has arranged the expansion round of finance in DCP Systems Ltd through the provisoin of an unsecured loan from the South Yorkshire Investment Fund for an undisclosed sum. Founded in 2001 and based in Chapeltown, the company develops and markets wide format digital colour printer systems for wide format printing and fine art applications. Further products and services provided by the company include Wide format systems Download a location map printers, rips, mounting, laminating and print finishing systems, Mac and PC design systems, colour profiling systems, networks, installation training, inks and medias, application training, wide format sales training, ICC and linear colour profiling for inks and media and colour management training. Funding will be used to further develop the company’s new product Giclee Varnish, which is designed to protect, preserve and enhance fine art and photographic prints produced on digital inkjet printers. | |
| DxS Ltd | Northern Venture Managers, Yorkshire Fund Managers, Octopus Asset Management |
| Business Type: Pharmacogenomic services provider Deal Type: Early stage Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Jeff Holder, investment manager at Northern Venture Managers, Chris Hulatt, investment manager at Octopus Asset Management, Doug Stellman, investment manager at Yorkshire Fund Managers Equity Amount: €1.5m Total Deal Value: €1.5m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXA9 | |
| Northern Venture Managers, Octopus Asset Management and Yorkshire Fund Managers have provided a total €1.5m in an early stage round of finance in DxS Ltd, a provider of pharmacogenomic services. Founded in February 2001 and based in Manchester, the company operates from purpose built laboratories and aims to produce a product that will provide doctors with a simple method of analyzing an individual’s genetic makeup to enable them to prescribe the most effective course of treatment. Patients genes are tested to enable doctors to predict how a patient will respond to different medicines allowing medicines to be tailored to individuals needs to improve personal therapeutic effectiveness. DxS has been able to prove the concept of its technologies with six companies licencing the technology. Funding will be used to further develop a sustainable commercial advantage and expand upon commercial opportunities existing in the licencing of technologies. | |
| Early Learning Centre & Chelsea Stores | Rhone Capital |
| Business Type: Childrens retail operators Deal Type: MBO Debt Leader: Bank of Scotland Debt Leader (individual): Undisclosed Other Advisers: Dickson Minto | Equity Leader (individual): Undisclosed Equity Amount: €49m Total Deal Value: €94m Other Advisers: For DC Thomson: MacFarlanes, Corporate due diligence (Charles Meek, Will David), Debt finance, (Julian Howard), Commercial due diligence, (Jeremy Courtnay-Stamp), Corporate finance, PricewaterhouseCoopers, (Stuart McKee, Jane Hughes), Europa Partners, (Paul Zisman) For Early Learning Centre: Corporate finance, Close Brothers Corporate Finance, Legal, Dechert For 3i: Legal, (Osborne Clarke) For Rhone Capital: Freshfields |
| Country Code: GBP Sector Code: ZYXB7 | |
| Rhone Capital has provided €24m in equity financing for the MBO of Early Learning Centre and Chelsea Stores childrens retail chain in a transaction totalling €94m and in so ding has bought out 3i and management. Rhone Capital provided equity financing in conjunction with participation from DC Thomson of €24m and the Bank of Scotland providing a further €53 in debt facilities for the acquisition of Early Learning Centre through the Eagle retail Investments Ltd vehicle while additionally acquiring Chelsea Stores Ltd as part of the transaction. The newly formed entity will combine the merged business of Early Learning Centre and Chelsea Stores although the brands will be managed as entirely seperate entities. Early Learning Centre operates a chain of over 200 high street childrens retail stores in the UK providing a turnover of approximately €258m. Chelsea Stores owns the Daisy & Tom retail outlets operating through 5 high street retail stores in the UK providing a turnover of €22m. Tim Waterstone, founder of Waterstones high street book stores who also formed the Daisy and Tom retail outlets, will be executive chairman of Eagle Retail Investments and Nigel Robertson will be CEO. | |
| Edotech | PPM Ventures |
| Business Type: Document management and graphic design services provider Deal Type: Acquisition Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Matthew Turner, director, PPM Ventures Equity Amount: Undisclosed Total Deal Value: €197m Other Advisers: For Astron: Deloitte & Touche, For Edotech: Hawkpoint |
| Country Code: GBP Sector Code: ZYXB6 | |
| Matthew Turner, director of PPM Ventures, has arranged funding for the acquisition of Edotech by Astron for a total €197m in an acquisition for expansion round of finance. Following the acquisition Edotech will merge with Astron Print and Mail under a new division to be named Astron Document Solutions. Headquartered in Huntingdon, the company provides complete document management and marketing communications support services to major corporations in Europe. Typical communications include utility bills and bank statements while additional services are provided including business process outsourcing, document solutions, print management and marketing support services. Astron currrently employs 4,100 people in over 70 sites in the UK, Austria, France, Poland, Spain, Switzerland, India and Sri Lanka sending approximately 775 million customer communications per year on behalf of its clients, including BT, Centrica, BUPA, DWP, Vodafone and Orange. The acquisition will provide a platform for the continued growth of the combined business to further strengthen market position. | |
| Fishers Holdings | Close Brothers Private Equity |
| Business Type: Flat linen services supplier Deal Type: MBO Debt Leader: Bank of Scotland Debt Leader (individual): Graham Silcock, Bank of Scotland Other Advisers: Undisclosed | Equity Leader (individual): Sean Dinnen, partner, Close Brothers Private Equity Equity Amount: €13.6m Total Deal Value: €45.8m Other Advisers: For Close Brothers Private Equity: Ernst & Young (Andy Fyffe, Robin Sinclaire), Cil (Sebastian Chambers), Dickson Minto (Roddy Bruce, Ewan Gilchrist). For Management: MacRoberts (Robert Burns) For vendors: Brewin Dolphin Securities (Sandy Fraser), Shepherd & Wedderburn (James Will) |
| Country Code: GBP Sector Code: ZYXB6 | |
| Sean Dinnen, partner at Close Brothers Private Equity, has arranged the MBO of Fishers Holdings for a total €45.8m inclusive of cash balances of €11m. Management invested €448,000 with Bank of Scotland providing senior debt facilities in support of the transaction amounting to €34.2m. Founded in 1900 and based in Fife with sites located in Cupar, Riggs Place, Perth and Aberfeldy, Fisher Holdings supplies flat linen services to the hospitality and leisure sector, furthermore the company supplies a wide range of garment laundry services to industrial customers in the oil and gas, electronics, pharmaceuticals and food processing sectors. The company has an annual turnover in excess of €30m and employs 600 people across its four sites with senior management’s intentions to build upon the company’s existing position and further grow the business throughout Scotland. John Fisher of Close Brothers Private Equity joins the board as a non-executive director. | |
| Fluency Voice Technology Ltd | Favonius Ventures, Kennet Venture Partners Ltd |
| Business Type: Voice recognition technology developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Stephen Duckett, MD of Favonius Ventures & David Carratt MD of Kennet Venture Partners Equity Amount: €8.9m Total Deal Value: €8.9m Other Advisers: For Voice Fluency: Business strategy, MarketClusters |
| Country Code: GBP Sector Code: ZYXB8 | |
| David Carratt, MD of Kennet Venture Partners Ltd, has led the €8.9m expansion round of finance in Fluency Voice Technology Ltd with Stephen Duckett, MD of Favonius Ventures. Kennet Venture Partners has invested €5.2m with Favonius investing €3.7m in the round. Founded in 1998 as a spin out from Cambridge-based Research and Development team the company provides packaged speech recognition applications for use in call centres with solutions designed to enhance customer services for key sectors including the financial services, travel & transport, utilities, telecoms and government. Fluency Voice Technology has become the UK market leader in speech recognition technologies with Barclaycard, Vodafone, National Express, Fujitsu, ACS, Parcel Force, Wells Fargo, Powergen, Chelsea Building Society, Vodafone and Energis being its core client listing. Funding will be used to fuel sales and expand product development in the area of packaged applications for vertical markets with intentions being to expand geographically in the US markets, with the funding assisting in the support of relationship development to drive US growth. | |
| GLEDC Development Capital | Matrix Group Ltd |
| Business Type: Private equity provider Deal Type: Acquisition Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Helen Sinclair, MD & Ashley Broomberg, director, Matrix Group Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: For the buyers: Transaction, Marriott Harrison (Duncan Innes, Jon Sweet) Employment, S J Berwin (Nicola Kerr ) For the sellers:Reynolds Porter Chamberlain (Kathryn Beattie) |
| Country Code: GBP Sector Code: ZYXA7 | |
| Helen Sinclair, MD, and Ashley Broomberg, director of Matrix Group, have arranged the acquisition of the private equity arm of Greater London Enterprise (GLEDC) for an undisclosed sum in a deal that is subject to FSA approval. The Greater London Enterprise (GLEDC) is a finance house specialising in innovative finance products providing finance to the SME finance market. The two businesses of Matrix Group and the private equity arm of GLEDC will merge to form an enlarged private equity fund management company to be named Matrix Private Equity Partners with a total €97.2m assets under management. The newly formed entity will be looking to make equity investments of up to €7.5m in the SME sector in high growth technology companies and established businesses. GLEDC’s MD, Mark Wignall will join the board of Matrix Private Equity Partners. | |
| Healthcare Knowldege Systems International Ltd | Inflexion Private Equity |
| Business Type: Healthcare information services provider Deal Type: MBO Debt Leader: HSBC specialised financing Debt Leader (individual): Chris Doyle, Director of HSBC specialised financing Other Advisers: Undisclosed | Equity Leader (individual): John Hartz, managing partner, Inflexion Private Equity Equity Amount: €7.6m Total Deal Value: €13m Other Advisers: Financial due diligence: Grant Thornton, Legal due diligence: McGrigors (Patrick Martin) |
| Country Code: GBP Sector Code: ZYXA9 | |
| John Hartz, managing partner of Inflexion Private Equity, has arranged the MBO of Healthcare Knowledge Systems International Ltd, a provider of healthcare information services for €13m. The company is a provider of healthcare information services to hospitals in the UK and Spain through the provision of database services and related analytical software to allow hospitals to analyse their performance against other hospitals in financial and clinical operations. Reports are provided on issues such as clinical governance issues for the review by NHS Trust board members and departmental heads. Healthcare Knowledge Systems International has been operating in the UK since 1989 with an approximate 70% market share in the total UK inpatient activity and acquired the Spanish arm of the business in 1996. Primarily growth will be organic, although the potential exists to expand services into more European countries in due course. | |
| Keep Yourself Nice Publishings Ltd | Genesis Investments, Hotbed |
| Business Type: Consumer magazine publishing operator Deal Type: Seed Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Chris Ingram (Genesis Investments), Alex Medinger (Hotbed) Equity Amount: €2m Total Deal Value: €2m Other Advisers: Devenporet Lyons, Smith & Williamson |
| Country Code: GBP Sector Code: ZYXB5 | |
| Chris Ingram of Genesis Investments has arranged the €2m seed financing of Keep Yourself Nice Publishing Ltd with Alex Medinger arranging financing on behalf of Hotbed. Funding provided by Genesis Investments, Hotbed, The Private Investor Network and the Arbib Family will be used to launch Keep Yourself Nice Publishing Ltd a mens consumer health publishing company run by the ex-loaded editor Tim Southwell. The company will operate as a consumer magazine publishing business with the flagship brand Golf Punk positioned to target the 48% of golf enthusiasts aged bertween 15 and 34 not currently served by existing media. Keep Yourself Nice Publishing will be positioned as a niche publishing company serving the mens magazine market with intentions in place for the company to launch a mens health magazine further on in the year. | |
| Medlock Medical Ltd | Apax Partners |
| Business Type: Hospital and community healthcare products provider Deal Type: Acquisition Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Ian Jones, director, Apax Partners Equity Amount: Undisclosed Total Deal Value: €82m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXA9 | |
| Ian Jones, director of Apax Partners, has led the €82m acquisition of Medlock Medical acquiring the business from SSL International plc. Based in Oldham, the company manufactures and markets a range of medical and pharmaceutical products to hospitals and community healthcare providers in the key therapy areas of compression therapy, dermatology, advanced woundcare, antiseptics and orthopaedics. Products provided include Tubifast retention bandages such as the Tubigrip brand compression therapy bandages and Lyofoam a polyurethane foam dressing for the treatment of leg ulcers. Currently 30% of the company’s sales are outside UK in areas such as the US, Australia and The Netherlands. With a strong market position in very niche product areas plans for future growth are to increase the company’s product offering with products such as the recently introduced Tubiwrap a treatment of atopic eczma while increasing products in other niche areas, additionally intentions are to expand sales internationally. | |
| Morris Group | n/a |
| Business Type: Engineering machine manufacturer Deal Type: MBO Debt Leader: Royal Bank of Scotland Debt Leader (individual): Tony Dean, director, Bruce McLaren, head of debt ventures, Royal Bank of Scotland Other Advisers: For RBS: Dixon Minto (Michael Barren, Martin McNair, Peter Uri) | Equity Leader (individual): n/a Equity Amount: n/a Total Deal Value: €190.2m Other Advisers: For management: Hallywell Landell, (Susan Molloy, Alec Craig, Rebecca Grisewod) For Quayle Munro Holding: Sheperds Weatherburn (Grant Munro) |
| Country Code: GBP Sector Code: ZYXA6 | |
| Tony Dean and Bruce McLaren of Royal Bank of Scotland have arranged the €190.2m tertiary buyout of Morris Group buying the entire 56.7% stake from 3i. The finance package included senior debt amounting to €172.6m and mezzannine facilities of €17.6m provided by Royal Bank of Scotland with Quayle Munro Holdings an investor since 1990 and management also providing capital to support the transaction. The company manufactures machines for the engineering sector operating through the two companies Morris Engineering Ltd and Morris Automation Ltd. Morris Engineering focuses on precision toolmaking, jig and fixture, press tool and plastic mould tool design and manufacture with Morris Automation focusing activities on the manufacture of special purpose automation machines. The refinancing package will allow the company to continue its development activities over the short-term and continue to grow the business. | |
| Murphy Comhire | Yorkshire Fund Managers |
| Business Type: Radio hire providers Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Tony Gouldbourn, CEO, Yorkshire Fund Managers Equity Amount: 75000 Total Deal Value: 75000 Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB5 | |
| Tony Gouldbourn, CEO of Yorkshire Fund Managers, has arranged the €75,000 investment in Murphy Comhire, providing financing from the South Yorkshire Investment Fund in the form of an unsecured loan for the radio hire company. Founded in 2001 and based in Sheffield, Murphy Comhire provides long and short term radio hire as well as installing radio communication equipment for a variety of venues and occasions. The loan provision will be used to purchase new equipment and improve the existing IT infrastructure to enable the company to expand its customer base for the provision of communications products and services. | |
| Nick Buxton Skip Hire | Yorkshire Fund Managers |
| Business Type: Skip hire operator Deal Type: Start-up Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Stan Wilson, Fiona Greaves, Yorkshire Fund Managers Equity Amount: 14900 Total Deal Value: 14900 Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB6 | |
| Stan Wilson and Fiona Greaves of Yorkshire Fund Managers have arranged the €14,900 start-up round of finance through the South Yorkshire Microloan in NT Skip hire. The company was set up at the beginning of the year with funding used to purchase a lorry, ten skips and protective clothing. Furthermore a portion of the funding will be used to advertise the company’s skip hire services. | |
| Oxonica Ltd | VCF Partners, BASF Venture Capital GmbH, Generic Asset Management Ltd, Quester Capital |
| Business Type: Applied nanomaterials technology developer Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Bernard Fairman, managing partner, VCF Partners Equity Amount: €6m Total Deal Value: €6m Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXA1 | |
| Bernard Fairman, managing partner of VCF Partners, has led the €6m expansion round of finance in Oxonica with BASF Venture Capital GmbH, Generic Asset Management Ltd and Quester Capital also participating. Based in Yarnton, Kidlington, the company develops technology to engineer functional nanoparticles. The surface of the nanoparticles can then be modified to allow them to be tailored for use in specific applications in the areas of catalysts and chemical reactants, cosmetics, quantum dots and biolabelling. Oxonica’s technology allows it to successfully design, manipulate and engineer certain properties of materials at the nano-scale. Existing applications of the product technology include Envirox deisel engines, a nanocatalyst improving fuel economy and reducing emissions in diesel engines. Funding will be utilised primarily to support the commercialisation of the company’s products and in securing a stabilised market position in the sectors it is targetting. | |
| Previa UK Ltd | Close Venture Management |
| Business Type: Occupational health services provider Deal Type: MBO Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Ole Bettum, Close Venture Management Equity Amount: €3.8m Total Deal Value: €3.8m Other Advisers: For Close Venture Management: Financial, Equita Corporate (Chris Spamoudkis), Legal, Speachly Bircham (Kieren O’Connor), Cooper Lancaster Brewer (Mark Ling), For the vendors: Linklaters |
| Country Code: GBP Sector Code: ZYXA9 | |
| Ole Bettum of Close Venture Management has arranged the €3.8m financing to back the MBO of Previa UK Ltd. Close Venture Management invested through the Close Brothers Development VCT plc, Close Technology & General Venture VCT plc and Bamboo Investments plc with a finance package consisting of equity and a five year loan stock. Founded in December 2000 as the result of an acquisition by Capio SE the company provides occupational health services to company’s that prefer to outsource occupational healthcare services to deliver services. Services provided include pre-employment fitness for work assessments, on-site health surveillance, sickness absence and rehabilitation management and pensions and insurance adjudication. Intentions are to consolidate the company’s position as a market leader in the occupational health services sector through developing the company’s service offering. Following the acquisition the existing management team will remain in place with Ole Bettum joining the board as non-executive director and current MD Nick Jones assuming the role of CEO. | |
| Prime Business Solutions | Gresham LLP |
| Business Type: Voice data convergence technology provider Deal Type: Acquisition for expansion Debt Leader: HSBC Debt Leader (individual): Ian Crompton, HSBC Other Advisers: Undisclosed | Equity Leader (individual): Paul Canning, Alastair Mills, Gresham LLP Equity Amount: €12m Total Deal Value: €33m Other Advisers: For buyers: Legal, David Raff of DLA, Financial, Ian Paterson of Grant Thornton, For the vendor: Adrian Dray of KPMG Reading |
| Country Code: GBP Sector Code: ZYXB8 | |
| Paul Canning and Alastair Mills of Gresham LLP have arranged the €32.8m acquisition of Prime Business Solutions providing acquisition for expansion capital to 2escape2 for the transaction. Gresham committed an additional €12m to help finance the acquisition with HSBC providing a debt package of €17.7m. 2escape2 has now made a total of five acquisitions since Gresham first invested €9.5m in July 2003. Headquartered in London and established in 2002, 2escape2 operates a portfolio of IT service companies for maintenance networking and the managed services market focusing specifically on contracts between €281,000 and €1.7m with clients including IBM, Insight, Transport for London and the Highways Agency. Currently the company employs 130 people around the UK and generated revenues of €14.6m showing EBIT of €1.5m for year end March 2004. This latest acquisition provides an opportunity for the cross selling of both technologies and services in order to serve the voice/data convergence technology market. | |
| S&P Coil | Northern Venture Managers |
| Business Type: Heating and ventilation equipment manufacturer Deal Type: MBO Debt Leader: HSBC, Thames Valley corporate banking centre Debt Leader (individual): HSBC Thames Valley corporate banking centre Other Advisers: Pitmans | Equity Leader (individual): Karl Harridence, investment manager, Northern Venture Managers Equity Amount: Undisclosed Total Deal Value: €4.4m Other Advisers: Hurst Morrison Thomson, For management: Osbourne Clarke, acquisition legal work and legal advice, SJ Berwin For Northern Venture Managers: Legal PitmansFinancial due diligence, Soloman Hare, HSBC Bank, Pensions advice, Sacker & Partners, Human resource due diligence, CPCR, Insurance due diligence, Todd & Cue |
| Country Code: GBP Sector Code: ZYXB4 | |
| Karl Harridence, investment manager of Northern Venture Managers, has arranged the €4.4m MBO of S&P Coil products Ltd from its parent company Halma plc with HSBC’s Thames Valley corporate banking centre providing senior debt facilities for the transaction. Founded in 1979 and based in Leicester, the company designs, manufactures and sells heating and ventilation equipment including heat pipes for dehumidification and heat recovery. Core products include fan convectors, coil heat exchangers and heat pipes to supply schools and government buildings with heating. Furthermore the company has developed a new market for its heat pipes in the Middle and far East where they are used as component parts in air conditioning systems. With the company’s established relationship with local authorities, intentions are to continue to build on existing market share to grow the company further with specific plans to grow sales through a Governments school refurbishment programme. | |
| Salfordthomas Design | Yorkshire Fund Managers |
| Business Type: Multimedia design services provider Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: n/a | Equity Leader (individual): Stan Wilson, Fiona Greaves, Yorkshire Fund Managers Equity Amount: 14900 Total Deal Value: 14900 Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB5 | |
| Stan Wilson and Fiona Greaves of Yorkshire Fund Managers have arranged a €14,900 expansion round of finance through the South Yorkshire Microloan in Salfordthomas Design, a provider of multimedia design services. Founded in November 2002 and based in Barnsley, the company provides multimedia design services including 3-D design, animation and post production to promote clients product and services offerings. Services include 3-D design, 3-D modelling and animation, 3-D special effects animation, interactive training applications and film and video post production. Funding has been used to increase programming capability through the employment of a programming specialist along with further capital injections towards increased product development and marketing. | |
| TRACS Ltd | Sovereign Capital Ltd |
| Business Type: Residential care services provider Deal Type: MBO Debt Leader: Bank of Scotland specialist property finance Debt Leader (individual): Martin Swan (Bank of Scotland specialist property finance) Other Advisers: Undisclosed | Equity Leader (individual): Dominic Dalli, assistant director, Andrew Haydon, Jim Kottler, Sovereign Capital Equity Amount: Undisclosed Total Deal Value: €39m Other Advisers: For Sovereign: Legal, Jones Day (Adam Greaves, Alistair Houghton) Legal Advisory, Deloitte & Touche (Darren Miller), Financial due diligence, Yvette Allen For management: Marriott Harrison (Duncan Innes) For vendors: Deloitte & Touche (Colin John, Ian Bleakley) Corporate finance, Osborne Clarke (Fiona Sweeting) |
| Country Code: GBP Sector Code: ZYXB6 | |
| Dominic Dalli, assistant director, Andrew Haydon and Jim Kottler of Sovereign Capital have arranged the €39m institutional buyout of TRACS Ltd, a provider of healthcare services to adults with mental healthcare needs. Bank of Scotland specialist property finance provided debt for the transaction. Based in Swansea the company operates a group of 21 residential care homes in South Wales and the Midlands for adults with severe challenging behaviours and mental health needs. Specialist care is provided to people with complex needs such as autism and acquired brain injury. TRACS Ltd provides a range of therapies and support to treat clients with complex needs employing over 250 staff tro service over 130 clients. Funding supports the buy-and-build roll out strategy with potential acquisitions sited for the company. Eric Millard will lead the new management team as CEO with Val Owens joining as director of finance and Sue Hullin retaining the position of service director. | |
| Ultra Premium Brands | Hotbed |
| Business Type: Consumer soft drinks manufacturer Deal Type: MBO Debt Leader: Undisclosed Debt Leader (individual): Undisclosed Other Advisers: Undisclosed | Equity Leader (individual): Gary Robins, CEO, Hotbed Equity Amount: Undisclosed Total Deal Value: Undisclosed Other Advisers: Undisclosed |
| Country Code: GBP Sector Code: ZYXB4 | |
| Gary Robins, CEO of Hotbed, has led the MBO of Ultra Premium Brands (UPB) for an undisclosed sum. The company manufactures and markets soft drinks for consumer industries supplying energy drinks under the brand name Red Devil to over 30 countries. Red Devil is the company’s largest brand and was launched in 1995 and is now the number one brand in Russia and number two in countries including The Netherlands and Luxembourg. The energy drinks sector is the fastest growing segment of the soft drinks market with worldwide sales estimated to be over $2bn per year. Under the new management team future plans for the company’s growth are to penetratre existing markets and also include geographic expansion to expand worldwide coverage in new markets including China, Spain and Italy. Ari Koivula led the MBO and becomes MD of the company with Gordon Miller also joining the board as non-executive director. | |
| US | |
| Moody International | Close Brothers Private Equity |
| Business Type: Industrial inspection and certification services provider Deal Type: MBO Debt Leader: Barclays Leveraged Finance Debt Leader (individual): Mike Dennis & Stephanie Harris-Hayes of Barclays Leveraged Finance Other Advisers: Undisclosed | Equity Leader (individual): Simon Wildig, partner, Close Brothers Private Equity Equity Amount: Undisclosed Total Deal Value: €45.5m Other Advisers: For the vendors: KPMG corporate finance (Nick Standen, Jan Crosby), Couderts (Dean Poster, Dominic Nagy.) Advisors to the purchasers: Berwin Leighton Paisner, (Geraint Lloyd, Ian Ivory, John Hayward), Burlington Consultants, (Martin Bean, John Beaumont) |
| Country Code: USD Sector Code: ZYXB6 | |
| Simon Wildig, partner at Close Brothers Private Equity, has lead the €45.5m MBO of RCG Moody International acquired from RCG International Inc. With 66 offices in 45 countries Moody is an international leader in the industrial inspection and certification business providing construction, project and industrial inspection services. Furthermore services include supplier inspection, expediting and auditing, quality assurance, supply-chain, personnel outsourcing and purchasing. The company also specialises in steel fabrication inspection, working alongside multinational clients such as Statoil providing Pipeline Construction, tubular inspection, painting and coating, site construction, in-service inspection, export and import inspection and supplier source surveillance. Group sales reached €131.5m in 2003 reflecting the company’s strong position for it’s specialised niche for future growth opportunities. Simon Wildig and Mark Perryman will represent CBPE on Moody’s board as non-executive directors. | |
| US/UK | |
| The Newsmarket | Apax Partners, Boldcap Ventures |
| Business Type: Web-based video distribution provider Deal Type: Expansion Debt Leader: n/a Debt Leader (individual): n/a Other Advisers: Undisclosed | Equity Leader (individual): Alan Patricof, director, Apax Partners Equity Amount: €3.4m Total Deal Value: €3.4m Other Advisers: For investors: Dechert LLP For The Newsmarket: Pillsbury Winthrop |
| Country Code: USD/GBP Sector Code: ZYXB2 | |
| Apax Partners and Boldcap Ventures have invested €3.4m in an expansion round of finance in The Newsmarket, a provider of web-based video distribution for the broadcast industry with The Hearst Corporation also providing financing. Founded in 2000 and headquartered in New York with offices in London, the company’s platform is designed to allow journalists to search, preview, and download video from sources such as government agencies and private companies. Platform technology allows global distribution of high-bandwidth, broadcast-standard video files allowing journailsts to preview and select the clips they need acquiring them instantaeously through a download feature. Existing clients of the company’s products include Motorola, EDS, Rolls-Royce, Philips Electronics, Financial Dynamics, Bulletin International and Zeptron. Funding will be used to launch more advanced video search and delivery tools and to increase the company’s sales and marketing activity on a global basis. | |
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