Deal round up 06/06/02

Advent leads GFI financing; 3i supports DCS MBO

Advent leads GFI financing

Advent International has led the $34m investment in New York-based GFI, a provider of brokerage, software and data services. Advent made the investment, its sixth to date, from its E2bn Global Private Equity IV fund, which closed in December 2001. Other investors in the funding round were 3i, CMS Group and Venturion Capital. The amount invested by the respective parties has not been disclosed.  

GFI intends to use the financing to further its growth in derivatives markets and to introduce new electronic trading platforms, analytic tools and data services to its customers.  

3i supports DCS MBO

3i Midlands and Bank of Scotland have teamed up to lead a management buyout of Document Control Services (DCSL), a UK documentation specialist based in Orton Southgate. The value of the transaction is £6m, with 3i contributing equity and Bank of Scotland providing debt. The respective values of the investments have not been disclosed. 

DSCL was established in 1998 and now employs 150 people. KPMG East Midlands provided corporate finance and transaction services advice for the deal, with legal advice provided by Wragge & Co and Gateley Wareing.