Allocations
Private equity houses may still be focusing their efforts on the best assets, but the combination of significant amounts of dry powder and a growing sense of optimism on macroeconomic indicators throughout Europe means activity in the small to mid-market has improved significantly, according to NBGI Private Equity.
Deal completions in the EUR15m-EUR150m range in Europe rose by 50 per cent in volume terms compared to Q2, while the overall value of these deals increased by 43 per cent to reach EUR4.3bn.
In terms of M&A more broadly, mid-market transactions also picked up in the 3rd quarter, with an increase
Sobera Capital has acquired the venture capital fund BayTech Venture Capital from Bayerische Landesbank, European Investment Bank, Bpifrance, Versicherungskammer Bayern, and BayernLB Capital Partners.
Among others, the fund holds participations in EnOcean (Munich), Pieris (Freising), Scaleo chip (Sophia Antipolis), and OneAccess (Paris).
Sobera Capital was backed in this secondary direct transaction by Unigestion.
Sobera Capital is a Berlin based independent secondary direct investor with a focus on venture capital and small-cap funds and assets in TIMES, healthcare and selected other industries.
A consortium led by KKR Asset Management (KAM), a sub-investment grade manager that is wholly owned by KKR, is to acquire Winoa Group from LBO France.
The acquisition facilitates a recapitalisation of the business through a significant reduction of the debt and access to new money for growth.
Winoa Group, formerly Wheelabrator Allevard, specialises in abrasion and cutting technologies for the metal and stone industries. Founded in 1961 in France, Winoa has 12 operational plants on four continents, employs over 1,000 staff and has 10,000 direct customers worldwide.
The investment by KKR has been made through investment funds
Atlante Seed, the Intesa Sanpaolo Group Fund and start-up incubator Digital Magics have signed an agreement for the joint development of investment activities in digital start-ups.
The goal of the partnership is to increase investment capacity for the start-ups selected and incubated by Digital Magics, guaranteeing adequate financial resources for their development.
Atlante Seed will join the Digital Magics Angel Network and will have the right to participate in the seed rounds, forming part of the share capital of high growth potential start-ups, co-investing in the companies proposed by the incubator.
This operation forms part of an indirect
Zwitserleven, the Spoorweg pensioenfonds and the Pensioenfonds Openbaar Vervoer have made a first deposit in the SNS FMO SME Finance Fund.
SNS Impact Investing, part of SNS Asset Management, and the Dutch development bank FMO jointly initiated this fund, which aims to support local SME’s in developing markets.
The fund has attracted EUR00m in investments at its first close. Commitments are expected to increase substantially in 2014.
The fund will provide loans to financial institutions aiming at supporting SMEs in developing markets worldwide. Through these investments, hundreds of SMEs will gain access to long term finance in the
An affiliate of Roark Capital Group has entered into a definitive agreement to acquire a majority stake in CKE Inc with senior management retaining a minority stake.
CKE is currently majority-owned and controlled by investment funds affiliated with Apollo Global Management.
Terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and other customary closing conditions.
Headquartered in Carpinteria, California, CKE, through its subsidiaries, owns, operates and franchises some of the most popular brands in the quick-service restaurant industry, including the Carl’s Jr, Hardee’s, Green
Exclusive Networks Group has acquired Dubai-based Secureway, a security specialist value added distributor in the Middle East with clients in ten countries in the Gulf region and EUR50m turnover expected in 2013.
This operation follows the implementation last September by Omnes Capital and all shareholders of a capital increase of EUR12m for Exclusive Networks Group and acquisition financing of EUR60m raised entirely from ICG Senior Debt Partner.
Omnes Capital acquired a stake in the company in July 2010 during a primary LBO and owns 69 per cent alongside the chief executive officer, key managers, Edmond de Rothschild Investment Partners
The Royal London Group (RLG) has entered into an agreement with funds advised by independent private equity firm Vitruvian Partners to support a management-led buyout of Royal London 360° (RL360°).
RLG is confident that the transfer of ownership will enable RL360° to achieve its strategic vision through a further acceleration of the growth that RL360° has experienced in recent years.
The RL360° executive management team, led by chief executive David Kneeshaw, will remain unchanged. Following completion, the company will be re-branded.
RL360° will be further strengthened through support from the global reinsurance group Munich Re, as well as
Private equity firm 21 Partners has agreed to acquire Synerlab from Ardian.
The transaction will be executed alongside Synerlab’s management team, led by its president Pierre Banzet.
Ardian will subsequently reinvest in the company in order to support Synerlab with its pan-European development, together with 21 Partners.
Synerlab is a pharmaceutical contract manufacturing firm and a European leader in the production of sterile liquid solutions which do not use preserving agents. The company has expertise in small- to large-size industrial production.
The group has a particular focus on R&D, enabling it to support its clients through the
La Caisse de dépôt et placement du Québec and BMO Capital Partners have invested in Corporation de développement Nautilus Plus, which owns the largest corporate network of fitness centres in Québec.
The investment, made equally by la Caisse and BMO Capital Partners, will enable them to acquire a block of shares of the company and Nautilus Plus to continue expanding its network.
"This financing enables us to support a well-established Québec company that has become a leader in its industry," says Normand Provost, executive vice-president, private equity, of la Caisse de dépôt et placement du Québec. "With its expansion
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