Wolfgang Hanrieder, co-head of Carlyle’s European technology team, said that the unit had acquired and invested in 18 small and medium-sized companies since 2002. The investment was made through Carlyle Europe Technology Partners, a €222m fund raised in 2005 dedicated to small buyout transactions and growth capital investments in European technology companies with enterprise values between €25m and €250m. Other investments in the fund include Global Media, UC4 Software, Transics and NP Aerospace.
The investment is being made to finance Varesvuo Partners’ growth and strengthen its position as an independent company. It is specialised in the production of television programmes and commercial films. In addition to its core business areas, it rents out production equipment and offers post-production services through its subsidiaries and associated companies. Its subsidiaries include Moskito Television, Kaivopuiston Grillifilmi and Angel Films. The transaction has a debt-free value of about €11m.
In the spring of 2007, Platina, with the support of other investors, took a strategic decision to identify a strong strategic partner that could support SFE in its ambitious growth. Platina appointed Lazard, which ran an auction that saw 20 offers emerge, but SFE was eventually sold to Sorgenia based on an enterprise value of €345m.
Platina is currently raising its fourth fund, a new pan-European renewable energy fund, the European Renewable Energy Fund [EREF], which is dedicated to investment in renewable energy businesses and assets across Europe. EREF, which has a target of €250m, will be invested in development portfolios and assets across proven renewable technologies. This fund will receive an existing development pipeline generated by other Platina funds to date, and benefits from an intermediary closing of €75m in early January 2008.