Deal round-up 25/04/02

Sovereign backs CVS expansion; CDC IXIS backs invests in Nexgen

Sovereign backs CVS expansion

Sovereign Capital Limited has led and structured a £1.1m investment into CVS, a UK veterinary services group. Sovereign’s commitment to the healthcare business has increased to £5.2m and its equity stake from 62 per cent to 80 per cent.

CVS was set up in August 1999 to participate in the consolidation of the veterinary industry through the incorporation of veterinary practices and services. The firm plans to buy and build a selected number of veterinary practices and associated services across the UK.

CDC IXIS backs invests in Nexgen

CDC IXIS, the private equity subsidiary of France’s third-largest bank Caisse des Dépôts, has invested $94.5m for a 39 per cent in the capital of Nexgen Financial Solutions Group, becoming its largest shareholder. Nexgen is a financial solutions group of companies based in Dublin.

To date, Dublin-based Nexgen has received investment from Singapore Technologies, a company wholly-owned by the Singaporean government, and GK Goh, a Singapore-listed securities firm. The latest investment brings its capital base to $187m, which will enable Nexgen to carry out larger transaction sizes.