Tuesday, December 12, 2017

Home security: Terra Firma’s “landmark” £4bn Annington refinancing

The refinancing, one of the largest ever in the sector, sees Annington ditch its securitisation structure.

How Aurelius secured its largest ever exit

The firm made an 18.5x return on its investment in IT services business Getronics Group thanks to a textbook carve-out play.

Casual dining gives private equity firms food for thought

Foresight Group seems to have backed a winner in Mowgli, but the fortunes of the wider casual dining market appear less certain.

CBPE hits the pension jackpot with Xafinity float

The firm’s gamble on the unfashionable defined benefit pension space paid off with a 4.3x return on its IPO of consultancy Xafinity.

Graphite Capital overcomes bumps in the road for 3.7x Micheldever exit

The firm navigated a challenging recession period and sold the tyre business to Japanese trade buyer Sumitomo for £215m this month.

Dentistry pays dividends for Bridgepoint after £835m Oasis exit

Somewhat paradoxically, trips to the dentist are proving to be rather pleasant for the private equity industry.

DBAG sees stellar return from deal with Elon Musk’s Tesla

Founder Klaus Grohmann, the majority shareholder, was well into his seventies but did not want to relinquish control over his life’s work to just anyone. Meanwhile Deutsche Beteiligungs (DBAG), which had held a minority stake in the company for 30 years, was content to receive Grohmann’s dividends and let the founder run the show.

Private equity gets stuck in to the debt collectors

Nordic Capital has become the latest firm to take a chance in the debt collection sector, merging portfolio company Lindorff with listed business Intrum Justitia and taking a 45.5 per cent stake in the combined entity.

Signs of life: Nordic Capital defies market volatility with Convatec float

Nordic Capital’s £4.4bn float of medical technology business Convatec shows that IPOs are not off the table for the right candidates.

Nazca turns to an old friend for Agromillora exit

Investcorp will take on the Spanish seeds business.
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