Western Europe

Sovereign makes 5.7 return on care business sale(3)

UK mid-market firm Sovereign Capital has sold healthcare business Complete Group making a 5.7 times return on its investment and an internal rate of return of 51 percent over five years after a bolt-on investment earlier this year.

Three Delta drops Sainsbury’s bid after Qatari talks(2)

Three Delta has withdrawn its bid for Sainsbury’s citing the problems in the credit markets and an equity increase demanded by the UK supermarket’s pension trustees.

Bridges buys recycling business(3)

Bridges Ventures, a venture capital firm focussed on regeneration and sustainability, has bought tyre recycling business Credential Environmental fulfilling both its aims.

HBoS buys stake in investor network(3)

After six months of negotiation Pi Capital, a high net worth investor network, has sold a stake in itself to Bank of Scotland’s growth equity team to increase the deal flow for its members.

Palamon-led consortium helps HSBC streamline credit card portfolio(2)

European mid-market firms Palamon and Electra Private Equity as well as Morgan Stanley’s alternative investment arm have bought two high-risk credit cards from HSBC at a discount.

Isis makes 3x money bolstering national security(3)

Isis Equity Partners, the UK mid-market buyout firm, has sold secure messaging company Boldon James to trade buyer Qinetiq, after securing contracts for the company with the UK Ministry of Defence and the UK Cabinet office.

CVC in $750m Taiwanese window deal(4)

CVC Asia Pacific added a $200 million mainland blind manufacturing business to its basket before closing the $750 million deal for shutter manufacturer Nien Made.

DFJ Esprit secures 5x exit from sale to AOL

DFJ's European venture affilate has secured a 150 percent IRR over 18 months from its sale of e-commerce website buy.at. It was also joined this week by Amazon as a backer of DVD rental company Lovefilm, marking the increased maturity of the European venture market.

Silver Lake Sumeru in debut tech deal(4)

Silver Lake’s middle-market technology fund, currently reported to be raising an inaugural $1 billion, has done its first deal with the acquisition of mobile phone marketing company Mobile Messenger.

Spectrum invests $300m in genealogy company(4)

Spectrum Equity Investors will acquire a majority stake in The Generations Network, a company the firm has backed since 2003. The investment deepens Spectrum’s holdings in the online media sector.