Deals
Eurazeo PME, Eurazeo’s division specialising in medium-sized companies, is to sell its stake in the Odealim Group, a French insurance brokerage firm for real estate professionals, to private equity firm TA Associates.
Eurazeo PME purchased AssurCopro in July 2016, working with founders Olivier Scemama and Vincent Mancel and the company’s management team. The transaction should be finalised in October 2018, once the preliminary operations have been completed. Eurazeo PME’s proceeds from the sale should be twice its initial investment.
With Eurazeo PME as its majority shareholder, Odealim has consolidated its leading position with five acquisitions, including InterAssurances, Jacques Boulard
Funds advised by private equity investor Equistone Partners Europe have agreed to sell a majority stake in Caseking, a European supplier of PC gaming, eSports and tech products, to funds advised by Gilde Buy Out Partners.
Equistone acquired Caseking in March 2014 and has subsequently supported the company’s growth strategy. Caseking’s founders and management will retain a stake in the business. The financial terms of the deal are undisclosed and completion of the sale is subject to the approval of the relevant competition authorities.
Headquartered in Berlin, Caseking was founded in 2003 by Kay Kostadinov and Toni Sonn as
AP Ventures has launched as an independent venture capital fund to invest in applications for Platinum Group Metals (PGMs). Anglo American Platinum and South Africa’s Public Investment Corporation (PIC), as cornerstone investors, have each committed USD100 million to the fund.
The newly created AP Ventures is the first fund of its kind investing in pioneering technologies and businesses harnessing the unique high performance characteristics of PGMs.
Anglo American Platinum is the world’s leading primary producer of PGMs and is expected to continue to provide AP Ventures with the benefit of industry expertise, market knowledge and access to international networks.
The industrial gases specialist Messer and CVC Capital Partners Fund VII (CVC) are to acquire the majority of Linde AG’s gases business in North America, and certain business activities in South America.
With approximately 5,100 employees, the acquired North and South American companies generated 2017 revenues of USD1.7 billion (EUR1.4 billion) and EBITDA of just over USD360 million (EUR305 million). The purchase price of USD3.3 billion (EUR2.8 billion) will be subject to customary adjustments at closing. The transaction is subject to the completion of the planned merger of the two industrial gases firms, Praxair and Linde, and the approval by the
Allied Universal is to acquire US Security Associates (USSA) for approximately USD1.0 billion.
Based in Roswell, Georgia, USSA is one of the leading providers of security and related services in the United States, employing more than 50,000 security professionals serving several thousand clients across a wide range of industries. USSA generated 2017 pro forma revenues and Adjusted EBITDA of c. USD1.5 billion and USD95 million, respectively. The transaction is expected to close by the end of 2018, subject to customary regulatory approvals.
Allied Universal intends to fund the transaction with a combination of additional indebtedness and up to USD200
Law firm Paul Hastings is advising Monaco Telecom on its agreement with MTN to acquire the entire issued share capital of MTN Cyprus, for net sale proceeds of EUR260 million.
MTN Cyprus is the fastest growing mobile and fixed operator in Cyprus with more than 400,000 customers and 2017 revenues of EUR123 million.
Monaco Telecom is majority owned by NJJ, the investment vehicle of Xavier Niel, one of France’s most prominent business leaders and an investor in telecommunications and technology ventures for 25 years.
Paul Hastings has previously advised NJJ on its EUR3.5bn acquisition of a majority stake in
Private equity firm TA Associates has completed a minority investment in Prudent Corporate Advisory Services (Prudent), an independent distributor of mutual fund and other wealth products in India.
Financial terms of the transaction have not been disclosed.
Founded in 2001, Prudent provides personal and corporate investment planning services through the distribution of mutual funds, bonds, broking and insurance products. The company operates through its network of over 10,000 Independent Financial Advisors (IFAs). Prudent provides its IFA partners with training and development services, technology platforms to grow and manage their client-base, back-office services, and sales and marketing support. The company
An affiliate of private equity firm HIG Capital (HIG) has sold Kondor Limited, a specialist provider of category management solutions for audio and mobile accessory products into the retail and mobile network channels in the UK and Europe, to DCC Technology.
Terms of the transaction have not been disclosed.
Headquartered in Dorset, England, Kondor distributes audio and mobile accessory products to a broad range of e-tail, retail and mobile operator customers. HIG invested in Kondor in 2014, and has since overseen a full reorganisation of the business. HIG worked in partnership with Kondor to professionalise back office systems, develop
Henkel has signed an agreement to acquire Aislantes Nacionales, a specialist in the Chilean tile adhesive and building materials market.
Aislantes Nacionales is a privately-owned company specialised in manufacturing and marketing a wide variety of products in the building materials market. The portfolio includes ceramic tile installation systems, mortars for finishing floors and walls, elastic sealants and insulation systems. In the fiscal year 2017, Aislantes Nacionales SA generated sales of about EUR80 million. The company is based in Santiago de Chile and employs around 220 people at a local production site.
The transaction is in line with Henkel’s strategy
Gide has advised Renault on the renewal of its strategic partnership with OYAK in Turkey, extending their joint venture relationship.
The agreements signed on 26 June 2018 regulate the new terms of the joint venture relationship, including the manufacturing by OYAK-Renault of Renault and Dacia vehicles, their parts and spare parts, as well as their commercialisation by MAİS on the Turkish market.
The agreements bring no change to the shareholding structure of the joint venture companies: Renault still holds 51 per cent and OYAK 49 per cent of the share capital of manufacturing entity OYAK-Renault, while OYAK holds 51
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