CapVest, a European mid-market private equity firm, has reached conditional agreement to establish Valeo Foods, an Irish food company that will combine the businesses of Origin Foods, the food division of the ESM and AIM listed Origin Enterprises, with Batchelors, a privately-owned Irish ambient food company. On completion, CapVest will hold 55 per cent of the equity of Valeo, with the balance held by Origin. Completion is subject to Irish Competition Authority approval. Valeo will bring together a portfolio of consumer food brands including Odlums, Shamrock and Roma from Origin, and Batchelors, Erin, Sqeez and Lustre from Batchelors. The new

Private equity firm Doughty Hanson is to acquire Equity Trust, a provider business administration and fiduciary services, for a total consideration of EUR350m from Candover and other institutional shareholders. The existing senior management team will invest alongside Doughty Hanson. Equity Trust provides administrative services to organisations worldwide, including secretarial and legal administration services; structured finance solutions; fund administration; complex private client administration; and book keeping and accounting. The business employs more than 1,200 people in more than 40 offices around the world, and services more than 14,000 client entities. Mark Corbidge, co‐head of private equity at Doughty Hanson, says: “The

Highlander Partners, a Dallas-based investment firm, and Flexpoint Ford, a private equity firm dedicated to the healthcare and financial services sectors, have completed the acquisition of Eagle Hospital Physicians. Eagle is a practice management company providing hospitalist contract services, telemedicine and hospitalist temporary staffing to its hospital partners, primarily in the US Southeast and Mid-Atlantic regions. Highlander and Flexpoint are joined in the transaction by Health Enterprise Partners. Highlander Partners, Flexpoint Ford and HEP have committed substantial additional capital to support future growth initiatives of the company. Eagle Hospital Physicians has named Brent McCarty, a seasoned executive with over 20

Key Principal Partners, a USD1bn private investment firm, has sold its shares in Clover Technologies Group, which recycles and remanufactures laser toner and inkjet cartridges. Clover sells its products under its own brand names as well as under the private label brands of several large retail and business-to-business office product dealer customers. Key Principal Partners led a USD26m minority common equity investment in Clover that was initiated in June 2006. During its investment period, Clover doubled in size to annual revenues of over USD400m. The company was sold to a group comprised of Golden Gate Capital and management.