Deals
European private equity firm Cinven has sold 10.8 million ordinary shares of Ziggo NV, the largest cable operator in the Netherlands, at a price of EUR23.50 per share, realising EUR255m of gross proceeds.
Following the listing in March 2012 and this sale of shares, Ziggo will have generated total proceeds of EUR569m for the Fourth Cinven Fund and a total money multiple of 2.7x including Cinven’s remaining shareholding in the company.
At close of trading on 30 July 2012, Ziggo ordinary shares were trading at a 34 per cent premium to the issue price. On completion of this transaction, Cinven
Total assets under management held by private equity funds worldwide have reached USD3 trillion for the first time, highlighting the sustained growth of the industry despite challenging wider economic conditions, according to research conducted by Preqin for the 2012 Private Equity Performance Monitor.
The figure is calculated using unrealised portfolio value and the dry powder (uncalled capital) available to private equity funds across the whole scope of the asset class.
Industry assets under management increased by nine per cent from December 2010 to December 2011.
Buyout funds account for approximately 40 per cent of the industry’s assets – USD804bn in
CitySprint, a UK same day distribution network, has completed its sixth acquisition since it was backed by Dunedin, the UK mid-market private equity house, in 2010.
CitySprint has acquired the same day courier, UK overnight and international operations of Scarlet Couriers.
CitySprint is on track to deliver GBP100m of revenues in 2012.
Nicol Fraser, director at Dunedin who sits on CitySprint board, says: “Dunedin continues to build value through acquisitions and organic growth. Scarlet Couriers represents the sixth strategic acquisition undertaken by Citysprint in the last 18 months and the 12th by Dunedin portfolio companies in total.”
The
Maitland, the international wealth and fund services firm, has acquired 100 per cent of Inter-Ocean Management, a corporate services and trust company based in Mauritius.
The deal takes effect from 1 July 2012.
Over the past five years, Mauritius has transformed itself into a springboard for trade and investment into Asia and the fast-growing markets of Africa. Mauritius’ favourable tax regime and wide international double tax and bilateral investment treaty network makes it a sought after jurisdiction for the establishment of international holding companies and trusts for international corporations and individuals. It is also a suitable jurisdiction for the establishment
AXA Private Equity, the European diversified private equity firm, has signed an agreement with the management team of Fives Group, led by Frédéric Sanchez, to acquire a stake in the company.
As part of the same transaction, the management team becomes the majority stakeholder as Fives enters the next phase of its development. As a result, previous owner Charterhouse now fully exits its stake in the company.
Since rebranding as Fives in 2007, the group has grown to become a major player in sustainable industrial development. Fives designs and supplies production lines and ready-to-work factories for the world’s largest industrial
United Initiators has acquired Syrgis Performance Initiators (SPI) from Syrgis Performance Products, which is owned by Edgewater Capital Partners.
SPI is a manufacturer of customer tailored formulations of ketone peroxides in North America and Europe and benzoyl peroxides in North America. Both products are organic peroxide initiators used in the production of thermoset composite materials.
Headquartered in the US, SPI has a global reach with manufacturing locations in the US and Sweden in addition to trading operations in Shanghai. In 2011, SPI had total net sales of approximately USD50m.
Acquiring SPI will enable United Initiators to expand
An affiliate of private equity investment firm HIG Capital has completed the acquisition of substantially all the assets of Arctic Glacier Income Fund.
The transaction was effectuated pursuant to the Companies’ Creditors Arrangement Act (Canada) and the US Bankruptcy Code.
The new company, Arctic Glacier Holdings, will be based in Winnipeg, Canada, and will continue to conduct business under the Arctic Glacier name.
Arctic Glacier is a producer, marketer and distributor of packaged ice. The company is the largest producer of packaged ice in Canada and the second largest producer in the US. Arctic Glacier operates a network of 39
Bertram Capital has sold Author Solutions to Pearson, a learning company and parent of Penguin Books.
The USD116m all-cash deal marks Bertram Capital’s third portfolio company exit in the last nine months.
Since Bertram Capital’s investment in 2007, ASI has grown to be a leading provider of professional self-publishing services.
"ASI’s extraordinary growth and its impact on the self-publishing industry clearly demonstrate the capability our buy and build approach has to create market leaders that are attractive acquisitions for strategic buyers," says Jeff Drazan (pictured), managing partner at Bertram Capital. "We successfully executed three add-on acquisitions for the ASI platform
The Carlyle Group, together with management and employees of Service King Collision Repair Centers, is to acquire majority ownership in the largest independent US chain of auto body repair shops.
Founder Eddie Lennox will retain a significant ownership stake in Service King. Chief executive officer Cathy Bonner will become chairman representing Lennox on the board of directors.
New equity for the investment will come from Carlyle Equity Opportunities Fund and Carlyle Strategic Partners Fund III. Terms of the transaction, which is expected to close in August, were not disclosed.
Shary Moalemzadeh, Carlyle managing director and a member of the Carlyle
Mid Europa Partners, a private equity firm focused on Central Europe and Turkey, is to partner with the founders of Walmark by acquiring a 50 per cent stake in the company.
The transaction is subject to customary closing conditions and is expected to be completed in Q4 2012.
With revenues approaching EUR100m and employing approximately 800 people, Walmark is an independent vitamins, minerals and dietary supplements manufacturer in Central and Eastern Europe.
Matthew Strassberg, partner of Mid Europa responsible for the healthcare sector, says: “With its strong brands, undisputed category leadership and attractive growth outlook, Walmark is ideally
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