€500M or more
Thoma Bravo scoops up cybersecurity company Darktrace
The take-private values the company at £4.3bn
BC Partners partially exits pharma CDMO Aenova Group in trade sale
BC Partners acquired the company from Bridgepoint in 2012
Main exits healthtech firm Evolution in trade sale
The exit is the largest in the firm's 20-year history in terms of enterprise value
Apax acquires Zellis Group from Bain Capital
The payroll provider counts Harrods, Iceland and Jaguar among its clients
Bowmark Capital sells UK-based digital specialist
Bowmark acquired a stake in Focus Group in 2020
NRDC Equity Partners and BB Kapital SA snap up German department store out of insolvency
The German-US investor consortium is expected to take over more than 70 shops in Germany
Ardian sells logistics company Staci for €1.3bn EV
During Ardian's holding period Staci completed two acquisitions
Montagu carves out Johnson Matthey’s MDC
Johnson Matthey is a multinational speciality chemicals company listed on the FTSE250
EQT sells stake in Ottobock
The transaction is set to value the prosthetics firm at €5.5bn
Kurma Partners sells Amolyt Pharma
The deal marks the third major exit of Kurma Biofund III and the first exit of Kurma Growth Opportunities Fund
Estancia acquires stake in Flagstone
Estancia partners Takashi Moriuchi and Keegan Mitchell will join the Flagstone board of directors
Triton Partners merges portcos to form Assemblin Caverion
The GP aims to create a Northern European technical service and installation specialist group
BC Partners exits Forno d’Asolo Group
The GP supported the business to record a fourfold increase in its Ebitda
Main Capital Partners acquires Millum
The GP aims to support the firm’s expansion internationally
Lanza Capital closes second parking-focused fund on €550m
Anchor investors include Brookfield Asset Management and Partners Group
CVC invests in Sunday Natural
The GP will support the business’s international scaling
General Atlantic bets on infra with Actis acquisition
The news comes hot on the heels of BlackRock’s acquisition of Global Infrastructure Partners
Deal in Focus: Eurazeo exits €1bn ophthalmology platform
Francesco Orsi of Eurazeo sits down with Real Deals to discuss the GP’s value creation strategy, which included a new product launch and expansion into China
Gilde Healthcare exits biotech firm
The GP has sold Calypso Biotech to Novartis
Hg sells MeinAuto Group divisions
The sale of the Mobility Concept and MeinAuto divisions amounts to €1bn in fleet assets, the GP said in a statement
Altor exits Eleda to Bain Capital
Eleda is a Swedish infrastructure projects and services firm
TA and Warburg acquire Epassi and Exercite
The GPs have merged the two firms to create a European digital multi-benefit provider
Consortium exits Ateliers de France Group
Tikehau Capital, IDI and Raise Invest have sold a majority stake
Ardian checks in with 15% stake in Heathrow Airport
The French sponsor previously invested in London’s Luton Airport
How Bregal achieved dragon status with €1.59bn EA exit
Real Deals catches up with BU’s co-founder and managing partner Florian Schick to learn about last month’s mammoth deal
Partners Group sells Civica
During the GP’s six-year holding period, Civica doubled its Ebtida
Permira acquires pharmaceutical services firm Ergomed
The GP’s pharma portfolio companies include Cambrex, Quotient Services and Neuraxpharm
Inflexion sells Chambers for £440m
The company has been sold to Boston-headquartered Abry Partners
Apollo-backed Lottomatica Group acquires SKS365
The firm expands its Italian presence with the acquisition
Deal in Focus: MidEuropa clinches c.2.5x return on Profi trade sale
The GP grew the business via a mix of bolt-ons and organic growth, Aleksandar Dragicevic tells Real Deals
Astorg-backed portco bolts on duo
Normec closed two deals in the environmental and water-testing services space
SVP acquires APCOA Parking Holdings
The PE firm has acquired Centerbridge Partners’ majority stake and those of other minority stakeholders
Cinven acquires majority stake in Synlab AG
The GP’s offer represents a 42% premium on the firm's XETRA closing share price
NorthWall Capital exits Pogust Goodhead
The GP has held a stake in the company since 2018
Partners Group acquires renewable specialist Exus
The GP plans to invest $1bn in growth capital
B & Capital acquires majority stake in Hubency
It is the third investment from the PE firm’s RB Capital France 2 fund
Bridgepoint acquires ECP for upfront EV of £835m
ECP’s partners will collectively become one of Bridgepoint’s “largest” shareholders as a result
Advent bags $1bn Zimmermann
Advent has acquired a majority shareholding from Style Capital
Capvis exits ARAG Group in trade sale for €960m
The precision farming company has been acquired by Nordson Corporation, a Nasdaq-listed company manufacturing products and systems used for precision dispensing.
Mayfair Equity Partners exits Snowfox in $621m deal
The GP helped grow the business through bolt-ons and expanding to the US.
EQT and ADIA’s Luxinva to buy Dechra in £4.5bn take-private
The offer represents a multiple of approximately 25.9x Dechra's Ebitda for the 12 months ended 31 December 2022.
Oakley Capital raises continuation vehicle to extend holding of IU Group
Oakley Capital Fund III will divest the business to Oakley Capital Fund V and its $1.2bn continuation vehicle to build upon the firm's ESG commitments and internationalise.
Clave Capital backs Fisify in €900,000 funding round
The investment marks the second from Clave Capital’s Innohealth fund, which held its first close at €50m in February.
Deal in Focus: ArchiMed scores 300x return for Polyplus exit
Speaking to Real Deals, Denis Ribon, chairman of ArchiMed, discusses how the specialist GP achieved one of the largest-ever exits by a PE buyout fund.
Exclusive: Gyrus sells DuPont Sustainable Solutions to Inflexion
The deal, negotiated in-house by the Gyrus team, will see the seller reinvest for a 20% stake in the new structure.
Bain ups ante in Caverion bidding war
The Bain Capital-led consortium vying for Finnish construction technology company Caverion has made an improved offer for the business.
PAI Partners acquires Savory Solutions Group from IFF
The transaction values the group at approximately $900m, equivalent to 14x Ebitda.
CVC sells April to KKR
CVC Capital Partners bought a majority stake in insurance firm April Group in 2019 through its Fund VII, before taking the company private in 2020.
Omers sells Trescal to EQT
The private equity arm of the Canadian pension fund will re-invest for a 25% holding, retaining a stake alongside EQT and the management team.
Bain-led consortium makes €955m offer for Caverion
A consortium led by Bain Capital Private Equity Europe has made a €955m offer for Finnish listed business Caverion, with a view to taking the business private.
Cinven buys US-based TaxAct for $720m
Cinven is to acquire TaxAct for $720m, and merge it with North Carolina-headquartered Drake Software - a tax preparation software provider it first backed in March 2021.
CVC, Nordic Capital complete Cary Group deal
The acquisition is being made via Nordic Capital’s Fund XI, which is nearing a final close on €9bn, and CVC’s €20bn Fund VIII.
Carlyle to acquire Garnica Plywood for €500m
The buyout will be made via Carlyle Europe Partners V (CEP V), a €6.4bn fund that began deploying in 2019.
BC Partners joins Bain in Fedrigoni
BC Partners will co-own labels and packaging specialist Fedrigoni alongside Bain Capital Private Equity.
CVC backs Spectrum Medical in £1bn deal
CVC's investment will support Spectrum Medical Group’s growth strategy to continue transforming the cardiac and ICU space.
Future 40 Mid-Market Investment Leaders 2022
This year’s Future 40 Mid-Market Investment Leaders list, in association with Finatal, highlights dealmakers who were able to navigate and deliver outstanding value, strong exits and record returns in 2021.
Motive Partners invests €120m in Backbase
The investment will be used to to further consolidate the business' position in the engagement banking category. The transaction values Backbase at €2.5bn.
Oakley Capital generates 10x on sale of Contabo
Oakley Capital has handed over control of cloud hosting platform Contabo to KKR. The transaction generates a 10x return and over 100 per cent IRR for its fourth fund.
EQT and Mubadala back €2.8bn SBO of Envirotainer
EQT and Mubadala have acquired Envirotainer from Cinven and Novo Holdings, in a deal that values the pharmaceuticals transportation specialist at around €2.8bn.
Norgine BV acquired by Goldman Sachs
Goldman Sachs Asset Management has taken a majority stake in Norgine BV. The deal represents one of the largest ever PE-backed acquisitions of a European pharmaceutical company.
Stonepeak invests €1bn in Inspired Education
Launched in 2013 by former PE investor Nadim Nsouli, Inspired runs more than 70 fee-paying kindergartens, primary and secondary schools in five continents.
Schroders wins one third of UK workforce with Nest pensions mandate
Schroders Capital has secured a significant investment from UK workplace pension scheme Nest, representing the scheme's first private equity mandate.
Astorg to acquire CordenPharma from ICIG
French private equity firm Astorg is to acquire CordenPharma from International Chemical Investors Group (ICIG) in a deal that is said to be valued at $2.6bn.
Sovereign-backed Bioscript makes bolt-on
The acquisition of Meridian HealthComms will significantly increase Bioscript's geographic footprint, and allow it to expand into adjacent strategic services.
Centricus confirms bid for Chelsea FC
London-based global investment firm Centricus has confirmed its official bid for the acquisition of Fordstam Limited (CFC Group), the parent company of Chelsea FC.
EQT to buy Baring Private Equity Asia
EQT will pay €6.8bn for the company including €1.5bn in cash and €5.3bn in new EQT shares. The combination with BPEA, a Pan-Asian private markets firm, supports EQT’s presence and growth in Asia.
Advent and Permira lead $14bn McAfee acquisition
The acquisition of all outstanding shares in McAfee common stock will be priced at $26 per share, in an all-cash transaction valued at over $14bn.
Partners Group signs €1bn software services deal
Partners Group has acquired pan-European software services provider Forterro from Battery Ventures at an enterprise value of €1bn.
Inflexion exits Alcumus for 5.9x
The sale values the business at c.£600m, and the 5.9x return represents the largest ever cash return for Inflexion.
Cinven backs buyout of IFGL from Vitruvian
Cinven is set to acquire British life insurance provider International Financial Group Limited (IFGL) from Vitruvian Partners.
Carlyle exits Cupa Group to Brookfield
Carlyle has agreed to sell its majority stake in the Spanish slate producer Cupa Group to Canadian alternatives investor Brookfield.
Ardian acquires Biofarma from White Bridge
Ardian has acquired Italian medical and cosmetic business Biofarma Group from White Bridge Investments. The deal values the business at €1.1bn, according to reports.
Bain Capital and CVC team up on Boots bid
Bain Capital and CVC Capital Partners are understood to have teamed up for a £10bn bid to buy Boots from its US owner.
Onex buys Tes Global from Providence
Onex has acquired education technology services provider Tes Global from Providence Equity Partners.
CVC considering IPO
CVC is considering an IPO that could value the London-based PE firm at more than $15bn. It marks the second possible IPO announcement in the last month.
Apax agrees to sell Unilabs to A.P. Moller Holding
Apax Partners has agreed to sell its controlling stake in Unilabs to the Maersk family-controlled A.P. Moller Holding. The deal values the business at over €5bn.
PAI Partners eyes Veonet Group
PAI Partners is edging out rival bidders to acquire the German eye clinic operator from Nordic Capital.
CVC offers €1.63bn for takeover of Intertrust
Dutch financial services company Intertrust has entered exclusive talks over a potential €1.63bn takeover by CVC Capital Partners.
Summa Equity sells Lakers for SEK 2bn
Summa Equity has agreed to sell Lakers, a provider of water and wastewater pumps, to Swedish investor Vestum for around SEK 2bn.
EQT sells VFS Global to Blackstone
Blackstone will reportedly pay $1bn for a 75 per cent stake in the company. The deal gives VFS Global an enterprise value of over $2bn.
GP Workshop: How to successfully engage in a cross-border transaction
Simon Finn, managing partner at Intriva Capital, discusses how to diligence and enter cross-border transactions, while IK Partners CEO Christopher Masek, discusses post-deal navigation.
Intriva Capital backs Sequence Care
Intriva will expand the care provider's footprint with new facilities and homes across the UK.
Bain leads €1.7bn deal in Rolls Royce’ ITP Aero
Rolls Royce has agreed to sell ITP Aero for c.€1.7bn to Bain Capital Private Equity, which is leading a consortium of Spanish and Basque companies including SAPA and JB Capital.
Nordic Capital-backed Cary Group makes IPO
Nordic Capital's Cary Group, a vehicle glass repair and replacement company, has listed on Nasdaq Stockholm.
Permira-backed Exclusive Networks completes €1.8bn IPO
Three years after its original Permira-backed buyout, Exclusive Networks has successfully completed a €1.8bn IPO.
New deal values Hg-backed Visma at €16bn
Nordic software business Visma, which is majority owned by Hg, has expanded its shareholder base as part of a strategic financing, which values the company at €16bn.
Cinven acquires majority stake in True Potential
Cinven has agreed to buy wealth management platform True Potential in a takeover deal estimated to be worth up to £2bn.
Astorg and Goldman Sachs to exit HRA Pharma
Astorg and Goldman Sachs have signed a binding agreement to sell HRA Pharma to Perrigo Company.
Apax and Warburg Pincus to acquire T-Mobile Netherlands
Apax Partners and Warburg Pincus are to acquire T-Mobile Netherlands from Deutsche Telekom AG and Tele2, in a deal that values the company at an enterprise value of €5.1bn.
Ardian Expansion exits Berlin Brands Group
Ardian has agreed to sell its minority stake in global ecommerce company Berlin Brands Group (BBG) to Bain Capital.
Consortium of PE firms acquire Inovalon in take-private
Nordic Capital, Insight Partners and 22C Capital have acquired the healthcare tech business in a take-private deal worth c.$7.3bn.
CVC seals $1bn takeover of Stock Spirits
The vodka maker rejected CVC's first four bids before agreeing to the buyout firm’s latest offer of 377 pence per share.
Telemos backs €1bn merger to create Lovehoney Group
Telemos Capital’s Lovehoney, an online retailer of sexual wellness products, has merged with WOW Tech Group in a deal valued at €1bn.
Permira buys Engel & Völkers
A company controlled by Permira funds has agreed to acquire a majority stake in Engel & Völkers.
Apax makes double acquisition
The two companies will be combined with Apax-backed CyberGrants to create a leading provider of next-generation SaaS solutions for the social good ecosystem.
Vivalto Partners holds first close and signs cornerstone deal
Vivalto Partners has held a €450m first close on its debut fund and agreed to acquire a controlling position in Vivalto Santé.
Cinven takes €1bn bite of the Spanish restaurant market
The investment in Restaurant Brands Iberia is part of Cinven’s consumer strategy, which is focused on megatrends such as demand for out-of-home consumption and digital D2C engagement through apps and home delivery.
Lack of DD providers slows deal processes
The volume of deals in the market and the shortage of diligence providers to process them is lengthening the time it takes for some deals to complete.
CD&R sells stake in Belron to investor syndicate
CD&R has agreed the sale of a minority stake in vehicle glass replacement and repair specialist Belron to a syndicate of investors.
Vectura Board approves Carlyle takeover offer
The board of London-listed Vectura Plc has recommended Carlyle's 155 pence per share offer, paving the way for a £950m+ take-private deal.