Private equity powerhouse Advent International closes £1.7bn deal to acquire pharmaceutical company Zentiva October 1, 2018 Global private equity firm Advent International has acquired European pharmaceutical company Zentiva for €1.9bn (£1.69bn). Advent International confirmed today that it backed the divestment of the European generics division of biopharmaceutical company Sanofi to create an independent business. The private equity firm will focus investment on the company's operations, production facilities and research and development (R&D). Read more: Advent has [...]
Planet Organic prepares for expansion drive after fund takeover October 1, 2018 Scottish private equity firm Inverleith has taken a majority stake in London-based retailer Planet Organic, unveiling plans to double the organic supermarket’s store count over the next five years. Inverleith has made an equity investment into the company, which currently has seven stores in London, to grow its footprint. Planet Organic, the UK’s largest fully-certified [...]
Chained to its rival? Halfords swoops in for embattled bike chain Evans Cycles September 27, 2018 Britain’s largest bike chain Halfords is in talks to rescue its beleaguered rival Evans Cycles, according to Sky News late last night. Halfords is understood to be one of several parties which have shown interest in buying Evans, which has hurried up the bidding process in an effort to avoid collapse. The news comes [...]
Poll: Brexit won’t lead to financial services brain drain September 26, 2018 Just 630 UK finance jobs have moved abroad since the Brexit vote, a Reuters poll found today. It contrasts fears voiced immediately after the vote that leaving the EU could badly damage the UK’s financial services sector. Read more: Brexit: Rees-Mogg tells businesses to accept customs delays Reuters’ poll of 134 financial giants found [...]
UK private equity deals slump as Europe hits post-crisis high September 25, 2018 UK private equity deals slumped over the last three months while European buyouts hit a post-crisis high, according to new statistics. There were 46 buyouts of UK companies in the third quarter of this year, down on the previous three months, which was the most successful period for volume and value since 2007. Just €19bn (£17.01bn) of deals have been completed [...]
BBC weather forecaster Meteo Group acquired by Swiss private equity company TBG AG September 24, 2018 BBC weather forecaster Meteo Group has been bought by Swiss private equity company TBG AG. The agency has the largest private weather measurement network in Europe, and offers solutions for industries including shipping, transport, media, energy and insurance. Read more: Online retail to be Next's summertime saviour as hot weather boosts sales Year-to-date bookings grew by [...]
Versace set to walk the runway with rumoured sale ‘within hours’ September 24, 2018 Shares in fashion brand Michael Kors are down more than eight per cent on rumours that it is in talks to buy Versace. Fashion kingpin Versace is rumoured to be “within hours” of being sold, according to Italian news reports which emerged early this morning. Newspaper Corriere della Sera, which has cited unnamed sources, [...]
Vicious cycle: Bike chain in hunt for rescue buyer as retail woes loom September 20, 2018 Cycle Evans is ramping up efforts to find a buyer amid mounting fears that the retailer could be the latest victim of this year’s high street bloodbath. Potential bidders for the embattled bicycle chain have been asked by advisers to put forward any final takeover offers by the end of next week, according to Sky [...]
Fund management consolidation to increase say private equity executives September 18, 2018 Fund management consolidation is set to increase as firms attempt to grow their asset base in order to compete for deals, according to a survey of top private equity executives. Heavy competition for deals is pushing private equity firms to build scale by merging with other firms, which allows companies to reduce costs and expand [...]
Corporate advisory firm Moorgate Capital in court battle with private equity fund HIG European Capital Partners September 16, 2018 Corporate advisory firm Moorgate Capital and private equity fund HIG European Capital Partners are locked in a court battle over an alleged unpaid £1m fee. Moorgate alleges that HIG had promised to pay Moorgate £1m in the event it acquired printing firm Bezier, which HIG did in 2011. Read more: Lloyds Bank private equity arm [...]