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Deals

Thames Water creditors table revised £20.5bn rescue plan

A group of Thames Water’s senior creditors, including PE firms Silver Point Capital and Apollo Global Management, have submitted a revised operational plan to UK regulator Ofwat as part of efforts to avert the collapse of the UK’s largest water utility, according to a report by Bloomberg.

Blackstone-backed Legence eyes $3bn valuation in planned Nasdaq IPO

Legence, the Blackstone-owned engineering and building services provider, has filed for a US initial public offering targeting a valuation of up to $2.95bn, as the post-summer pipeline of new listings begins to build momentum, according to a report by Bloomberg.

BGF sees 11x return from £55.6m sale of Monodraught to Genuit Group

BGF has completed the sale of its stake in Monodraught, a British green tech specialist, to Genuit Group plc for £55.6m with the exit generating an 11x multiple of money invested and a 37.5% internal rate of return – one of the highest returns achieved by BGF.

3i sells MAIT to DBAG for £143m, achieving 2.7x multiple

3i Group has agreed the sale of its stake in MAIT, a leading IT services provider for mid-market clients in the DACH region, to DBAG Fund VIII, advised by Deutsche Beteiligungs AG (DBAG) in a deal expected to generate £143m in gross proceeds.

Three Hills invests in Sinewave

Three Hills, a private markets investment firm specialised in providing bespoke capital solutions to entrepreneurs and management teams in Europe and North America, has invested in Sinewave, a UK-based provider of grid connection and maintenance services for EV charging, solar and battery storage, data centres, and other energy infrastructure applications.

Vista-backed Finastra explores $1bn sale of Asian and Middle Eastern unit

Finastra, the London-based financial software company owned by Vista Equity Partners, is preparing the sale of its Middle Eastern and Asian core banking division, in a deal that could be valued at over $1bn, according to a report by Reuters citing unnamed people familiar with the matter.

JTC rejects Permira’s takeover approaches

London-listed fund services group JTC has said it has rejected two preliminary takeover proposals from private equity firm Permira over the past 10 days without revealing the reason behind its decision, according to a report by Reuters.

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