Anglo-Dutch consumer goods giant Unilever is allocating EURO170 million to a corporate venturing initiative. With three different funds, the group aims to build business opportunities close to its core interests in foods, home and personal care. For the largest of its three ventures, Unilever has taken the position as sponsor and lead investor committing EURO100 […]
UK bingo and casino operator Gala Group is the latest European firm to seek a leveraged recapitalisation, after Focus Wickes and Lecta. There had been talk this summer that the CSFB Private Equity-backed Gala was planning a GBP1.3 billion IPO. However, in the face of the deteriorated stock markets, those plans were shelved. In addition […]
Chequers Capital, formerly Charterhouse France which gained its independence last year, has reached a final close on its debut fund at EURO300 million. The final close was 50 per cent above the original target of EURO200 million. Commitments were secured from over 30 institutions with around one third coming from America, one third from France […]
The UK government has passed legislation to make it easier for certain investments by Venture Capital Trusts (VCTs) to retain their qualification for tax relief. The changes, announced in the March 2000 Budget, apply to investee companies that are merged or sold in exchange for shares. John Spooner, director of Quester, which manages five VCTs, […]
Citigroup is putting up $250 million as a cornerstone commitment to back a new fund launched by a team of high profile pan European players with 50 years’ private equity and investment banking experience. Stirling Square Capital Partners will pursue mid-market opportunities across Europe with a particular focus on Germany, Italy, Scandinavia, the UK and […]
Nordic private equity specialist CapMan, has appointed Claes de Neergaard, Bjrn Norrbom and Semmy Rulf as senior advisors, based at CapMan’s Stockholm office. Norrbom will be part of CapMan’s Nordic ICT/Technology business unit and de Neergaard and Rulf part of CapMan’s Nordic Life Science business unit. In addition de Neergaard advises CapMan’s group development support […]
3i has appointed Olivier Lesca as director in its European buyout business. He will be responsible for identifying and executing French and cross border buyouts and will split his time between 3i’s London and Paris offices. Lesca was most recently executive director at UBS Warburg where he had worked since 1993 in the M&A department, […]
VC players are operating in a market characterised by uncertainty. This is the main conclusion at the closing of the EVCA technology investment conference, held in Barcelona last month. “It is not the clear what the right steps are and who the winners are of the future,” said Max Burger-Calderon, EVCA chairman. It’s a case […]
ABN AMRO Capital has completed the secondary buyout of specialist photographic retailer Jessops, following clearance from the European Competition authorities. The GBP116 million deal sees ABN AMRO Capital acquire the company from private equity firm Bridgepoint Capital, which has backed Jessops since the original management buy-in / buyout in 1996. Jessops operated 70 stores at […]
21 Invest has appointed Michele Garulli as director of its Milan office. Garulli was previously director of the Milan branch of Deutsche Morgan Grenfell Private Equity where he was originating, structuring and negotiating leveraged buyouts in Italy. He has gained significant experience of the industrial sector having worked with Ducati Motor, Safta, flexible packaging and […]