Deal Round-up 22/05

CVC and Inveralia team up in Spain, whilst technology money flows from Banexi, Innovacom, 3i, Metropolitan Venture Partners and Commerzbank.

CVC, Inveralia in bid to create Spain’s leading restaurant chain

CVC Capital Partners and Inveralia, a Spanish private equity firm, are part of a deal that will create the largest restaurant and hospitality group in Spain. The firms have signed an agreement with two industrial partners, California and Zena Group. The deal is funded by CVC.

The new group will have 328 restaurants across Spain with over 5,500 employees. It will include brands such as Burger King, Pizza Hut, Foster’s Hollywood, Nostrus and Tio Tapas. Projected turnover in 2001 is just over E240m.

Lazy Software raises $8.6m

Commerzbank and Metropolitan Venture Partners have invested $3.6.5m in Lazy Software, a developer of web-enabled data management software, to complete a $8.5m first round. Lead investor in the company is Advent Venture Partners, which has invested $5m in the company. The cash will be used to grow sales and research and expand into international markets.

Banexi and Innovacom are into Bluetooth

Inventel Systemes, a radiocommunications firm and developer of Bluetooth technology, is the recipient of a FF40m first financing round. Banexi Ventures led the round, with support from Innovacom. Depending on Inventel’s performance, which last year turned in a profit on $4m of revenues, the company may look for additional funding later this year.

Royal Bank of Scotland serves Dalgety Taverns £8.5m

Dalgety Taverns, a Scottish pub business, has received £8.5m in a deal backed by The Royal Bank of Scotland Corporate Finance.

The cash injection will help the company continue the development of its existing pub estate as well as funding the acquisition of five Tom Cobleigh Pubs in Scotland. Dalgety, which has 400 staff, said further acquisitions are going to be made.

Akio Solutions raises FF23m

Innovacom, 3i and Banexi Ventures have injected new money into Akio Solutions, a corporate email manager. The syndicate invested FF23m, following up on a first funding round worth FF26m last year. Akio operates in France, England and Germany.