Western Europe

3i makes 4x return after HSS turnaround(3)

3i has reaped the rewards of a successful turnaround at tool hire business HSS, after selling the business for £310 million. The buying consortium comprises Archie Norman’s investment vehicle and Och-Ziff, a hedge fund with a history of encroaching on the buyout space.

3i buys $57m stake in hedge fund administrator

3i’s US arm has bought a stake in a Bermuda-based hedge fund administrator, in the latest move in an active year for the firm.

Credit Suisse spin-out in $1.1bn ice deal

GSO Capital Partners will add the largest ice manufacturer in the US to its diverse portfolio.

Graphite makes 4.2x return on Go Plant exit

UK mid-market firm Graphite Capital has sold Go Plant, a vehicle hire business, to Easternrange. The sale has generated a return of 4.2 times Graphite’s original investment.

Lyceum exits nurseries business(2)

Mid-market private equity firm Lyceum Capital has completed a successful exit from UK nurseries business Asquith, after boosting earnings by 200 percent and increasing the workforce by more than half.

Istithmar to buy $950 million Barneys(3)

Clothing company Jones Apparel Group is in talks to sell luxury department store Barneys New York to Istithmar for $950 million (€714 million). The Dubai-based firm has been active in the New York real estate market lately.

Lyceum completes eighth bolt-on for National Britannia

Lyceum Capital had made an eighth bolt-on acquisition for National Britannia Group, a health and safety consultancy, as the industry looks set to become a £1 billion market in the UK by 2010.

ABN bolts on Manrose to Volution

ABN Amro Capital has made the first step in its buy and build strategy for ventilation company Volution, with the bolt-on acquisition of UK competitor Manrose Manufacturing.

Duke Street draws first blood in dentist battle(2)

UK-listed Oasis Healthcare’s board has accepted Duke Street Capital’s £76.9 million offer for the company. However, the deal could yet come under threat, after trade rival ADP Healthcare Services said it may submit a competing offer.

London VCs invest $8m in Daylife

New York-based news aggregation site Daylife has raised $8 million from two UK venture capital firms, in the latest example of US start-ups taking funding from VCs based in London rather than Silicon Valley.