Deal round-up 10/05/02

BoS backs Brandons acquisition; Advent Venture backs Am-Beo second round; Target leads E2m funding

BoS backs Brandons acquisition

Bank of Scotland has backed Brandons, the UK's second largest turkey producer in its acquisition of Moorland Poultry, one of its biggest competitors. The deal creates a business with turnover in excess of £100m.

The acquisition was backed by a £30m funding package supplied by Bank of Scotland Corporate Banking in Birmingham and Wolverhampton. Deloitte & Touche in Birmingham undertook due diligence. Bank of Scotland was advised by Eversheds in Birmingham.

Advent Venture backs Am-Beo second round

UK technology venture capitalist Advent Venture Partners has led the E10m second round financing of Am-Beo, a leading developer of rating and revenue chain management software based in Ireland. Advent is investing E7.5m alongside existing backers ACT Venture Capital who have invested a further E2.5m.

The company will use the capital primarily to accelerate its sales and marketing activity and to support product development. Am-Beo is based in Galway in the Republic of Ireland and currently has 52 employees. Ion Equity were corporate finance advisors to Am-Beo on the deal.

Target leads E2m funding

Vectriz International, a Germany-based billing software maker has secured E2m in a second round of financing led by German private equity firm Target Partners. Target Partners led the first round financing of Vectriz and was joined in this latest round by Constantin & Bastian Venture Capital, Technologie-Beteiligungs and Vectriz's founders.

Vectriz's new CEO, Arno Schloesser, said the firm will use the funds to market the company's U2U/BS software and launch the Vectriz Merlin/BS software outside Germany.