The European Investment Fund (EIF) has invested in Bridges Ventures Fund III, a UK-focussed sustainable growth investor, which held its first closing at GBP72m. This is EIF’s first commitment into the impact investing segment and illustrates its willingness to support European social entrepreneurship. Bridges Ventures will target ambitious businesses across four key impact themes: Underserved Areas (meaning economically deprived areas); Environment; Education & Skills and Health & Wellbeing, where underlying social or environmental problems create an imperative for change and attractive growth opportunities for entrepreneurial businesses.  Through the success of its two predecessor funds (Bridges I and II, with similar

SEI has been selected by EIG Global Energy Partners to provide an operational outsourcing solution for the firm’s alternative investment business. Given its recent spin-out from Trust Company of the West and its aggressive growth projections, EIG required a partner with a global presence as well as greater processing depth and power to accommodate the increasing number of investors and expanding quantity of data. This is the latest in a series of private equity wins for SEI as more firms adopt operational outsourcing to focus resources on core business functions.   Under the agreement, SEI will provide a full range

Blue Coat Systems, a provider of Web security and WAN optimisation solutions, has entered into a definitive agreement to be acquired by an investor group led by San Francisco-based private equity investment firm Thoma Bravo, LLC, in a transaction valued at approximately USD1.3 billion. The Blue Coat Board of Directors has approved the agreement and resolved to recommend that the shareholders of Blue Coat adopt this agreement. Blue Coat will continue to operate with its focus on Web security and WAN optimisation. The investor group is led by Thoma Bravo and includes the Ontario Teachers’ Pension Plan (Teachers’) through its

Lyceum Capital has closed its 14th deal this year with the acquisition of Kent-based commercial drainage specialist Drain Control by its portfolio company UKDN. The deal is the second major transaction in as many months for UKDN which has so far invested over GBP15 million in its market consolidation strategy. Already the UK’s biggest independent provider of specialist drain maintenance and repair services, the deal further strengthens UKDN’s existing foothold in the commercial market and re-enforces its presence in the South East.   Established 20 years ago, Drain Control provides a full portfolio of drainage and plumbing services to a

DiGiCo Europe Limited (“DiGiCo”) has announced a GBP50 million management buyout funded by ISIS Equity Partners (ISIS). The deal allows Matrix Private Equity Partners (Matrix) to substantially realise its investment in DiGiCo in which it invested in 2007. Since that transaction, the business invested heavily in R&D, creating the highly acclaimed SD series of consoles, and Turnover has grown from GBP8 million in 2007 to GBP22 million in 2011.   The sale to ISIS returns over £20m to Matrix in cash and loan stock in addition to a continuing equity holding of 11%. This return equates to a 4.4x multiple of

Caledonia Investments has invested GBP24 million in cash to acquire a 20% preferred equity interest in B&W Group Limited (“Bowers & Wilkins” or the “Company”), a well-established and rapidly growing British company which designs, manufactures and distributes high-end audio equipment.  Bowers & Wilkins has been led by Joe Atkins, its Chairman, since 1996. The investment in Bowers & Wilkins represents a good fit with Caledonia’s strategic aims in the unquoted sector. The Company is managed by an experienced and stable team, has a strong balance sheet and benefits from a global operational footprint and exposure to expanding markets where its

International law firm Eversheds has advised Isis Equity Partners and management on the sale and secondary buy out of Wiggle, the online cycling and tri-sports retailer, to Bridgepoint Capital for GBP180m. Wiggle was founded in 1999 initially to sell cycling accessories but by 2003 had expanded its offer to include running and swimming goods. ISIS invested in the business in 2006, and has supported and helped to build it. Today it’s the UK’s leading online retailer for enthusiastic road cyclists and triathletes, and truly global in its offering. It has over 1 million shopper visits a week to its online

An affiliate of Sun European Partners, the European adviser to Sun Capital Partners, Inc, has reached an agreement to acquire shares in German retail chain Strauss Innovation (Strauss) from The EQT Opportunity Fund. The Geringhoff family will also sell its stake. The value of the transaction has not been disclosed. Strauss is a private-label retail chain with approximately 100 stores in Germany and around 1,100 employees. The business has strong customer loyalty and is well known for its innovative assortment concept, combining interior decor with women’s and men’s apparel.   EQT Opportunity acquired Strauss in 2008 and has since executed

The Mezzanine team at AXA Private Equity has arranged and subscribed the financing for the acquisition of Unither Pharmaceuticals by Equistone Partners Europe. Unither is being acquired by Equistone, alongside historical shareholders ING Parcom Private Equity, CM-CIC Investment and Picardie Investment. Unither Pharmaceuticals was originally purchased in 1993 from a Sanofi’s factory employing 17 people in Amiens, France. It is now a global manufacturer of unidose packaging for European pharmaceutical laboratories, and generic products, particularly eyewashes, saline solutions and anti-asthma drugs in sterile single-dose units and stick-packs.   With four industrial sites and an R&D centre, Unither generated revenues of

Patron Capital, the pan-European private equity group, has acquired, together with its new joint venture partner, Halcyon Hotels and Resorts, over 30% of the Von Essen Group portfolio from its administrators; the acquired assets formed a sub-brand within Von Essen known as the Luxury Family Hotels collection. Four of the assets were owned until 2005 by Nigel Chapman, Halcyon’s Chief Executive, who together with Patron Capital is committed to returning them to their former glory and restoring the Luxury Family Hotels brand.   The seven hotels being acquired have a total of 211 keys, with a restaurant and spa/leisure facilities