Deals
Equistone Partners Europe has exited PD&MS Energy, a provider of engineering, procurement and construction (EPC) services for the global oil and gas industry, in a secondary buyout to Inflexion.
The mid-market private equity firm has achieved a 2.9x return on total investment after it backed the management buyout in 2010.
Founded in 2002 by its current management team, PD&MS Energy serves the drilling, production and marine sectors. Its core capability is ‘brownfield’ design engineering services, using project planning and design software tools to service drilling and production operators throughout the oil and gas market.
PD&MS Energy employs more
NorthEdge Capital, the private equity firm focused on investing in businesses based in the North of England, has backed Blackburn-based tissue converter Accrol Papers in a GBP66million deal.
Accrol, established in 1993, employs 300 staff with a current turnover exceeding GBP100million. One of Europe’s largest independent converter of soft tissue products, the business has a manufacturing capacity in excess of 80,000 tonnes per annum.
The business, founded by the Hussain family, has grown significantly in the last five years. The investment by NorthEdge will facilitate the acceleration of the company’s expansion programme to increase capacity and support further growth,
Private equity fund Change Capital Partners has acquired a majority stake in Frette, an Italian luxury linen and home furnishings business.
Change Capital Partners will make a significant investment into the company.
Frette’s existing owner, JH Partners, a San Francisco-based consumer focused private equity firm, will retain a minority stake in the business.
Founded in 1860, the company has supplied high quality linens to aristocratic families throughout Europe as well as the Vatican. Frette has 15 directly owned boutiques around the world.
Frette had consolidated sales of circa EUR90m in 2013 and it sells through a combination
The Intralinks Deal Flow Indicator (DFI) for the quarter ended 30 June shows 16 per cent quarter-on-quarter (QoQ) and 12 per cent year-on-year (YoY) increases in early-stage global M&A activity.
The latest data reveals particularly strong performances in Europe, Middle East and Africa (EMEA) and North America. Overall, this quarter’s results point to sustained momentum in M&A activity to the end of 2014, building on the strong levels of M&A activity seen in the last year.
Based on the results of the Intralinks DFI so far this year and its strong correlation to the volume of future announced deals,
The Abraaj Group has acquired a majority stake, through its funds, in Polyclinique Taoufik, a private hospital in Tunisia.
Based in Tunis, Clinique Taoufik was one of the first private healthcare institutions established as part of efforts to modernise Tunisia’s healthcare system. The hospital currently treats 75,000 in- and out-patients per year, offering services such as general surgery, heart surgery, neurosurgery and obstetrics. The company also has an emergency service, a radiology centre and laboratory dedicated to patients of the hospital.
With 164 beds, the hospital is the second largest in terms of bed capacity. With Abraaj’s financial and
APG Asset Management and Aquila Capital have formed a partnership to invest a targeted EUR500 million in the acquisition and development of European hydropower plants.
APG has commissioned Hamburg-based Aquila Capital to establish an investment vehicle dedicated to hydropower infrastructure, which aims to make investments in operational plants and develop new projects across Europe.
APG will commit EUR250 million to the venture. Considering the capability to make use of debt financing, the total enterprise value of the investments is projected to amount to up to EUR500 million.
Aquila Capital will provide the operational management of the hydropower assets as well as portfolio management services to the partnership.
Hydropower has a much higher efficiency ratio (i.e. ratio
Beringea, the growth capital investor that manages the ProVen Venture Capital Trusts, has invested GBP3 million in Chargemaster, a provider of electric vehicle (EV) charging infrastructure.
The investment will be used to strengthen Chargemaster’s position in the UK market and fund further expansion into the European EV charging market.
Since its founding in 2008, Chargemaster has quickly grown to become the largest supplier of EV equipment and infrastructure in the UK with more than 10,000 public and commercial charging points installed across the country. The company is also a key player in the European EV market, with over 4,000
Herbert Smith Freehills' London private equity team has advised Antin Infrastructure Partners on the acquisition of BG Group's majority stake in the Central Area Transmission System (CATS) gas pipeline in the North Sea.
The deal is the first for Antin’s recently closed Fund II.
Under the terms of the acquisition agreement, Antin now owns a 62.78 per cent interest in CATS. The consideration is up to GBP562 million (including a potential deferred amount of GBP39 million) and the deal closed on 10 July 2014.
CATS comprises a fixed-riser platform linked to the Everest oil and gas platform, a 404-kilometre,
The market for initial public offerings (IPOs) finished on a strong note late in the second quarter of 2014, recording the highest quarterly deal volume since the fourth quarter of 2007.
Interest in new equity issues is expected to remain healthy heading into the third quarter, driven by continued investor demand for growth and a strong equities market environment, according to IPO Watch, a PwC US quarterly survey of IPOs listed on US stock exchanges.
According to PwC, there were 89 public company debuts in the second quarter of 2014, representing USD21.5 billion in proceeds raised. On an annual
Investcorp is to acquire SPGPrints Group from funds managed by Bencis Capital Partners for an enterprise value of EUR240 million.
The deal is subject to clearance from the relevant competition authorities.
Established in 1947, SPGPrints is a provider of integrated solutions for rotary screen and digital printing for textiles and graphic applications, and a manufacturer of precision metal components for a broad range of applications.
Headquartered in Boxmeer, the Netherlands, the company is represented in more than 100 countries worldwide and in 2013 generated revenue of EUR214 million, a large share of which was from emerging markets.
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