Middle East & North Africa

Battery buys tech firm for $137m(3)

Battery Ventures has completed a$137 million take-private of Quovadx, a software and software services firm formerly listed on NASDAQ, for $136.7 million.

Sainsbury board keeps Three Delta waiting

Three Delta continues to seek access to the books of UK supermarket Sainsbury’s, as difficulties in the credit markets look certain to affect the price of the £6 billion of debt needed for the offer.

Growth in the Gulf(3)

A detailed report by KPMG and the Gulf Venture Capital Association has revealed the extent of the boom in the MENA region, Toby Lewis examines the figures.

Oak abandons $825m Vertrue deal(3)

Oak Investment has dropped out of a consortium of firms planning to acquire internet direct marketing services firm Vertrue, after the bidding price was raised from $800 million to $825 million.

3i adult carer exit has 61% IRR(2)

FTSE 100 listed 3i had a 61 percent IRR and a 3.9 money multiple on the sale to Three Delta of a company it first invested in 10 years ago, Care Principles.

ECP makes $50m exit on African rubber producer

The Africa-focused firm earned a 3.4x return on its investment in rubber company Societe Internationale de Plantations d’Heveas – the latest in a series of successful exits on the continent.

Qatari firm makes £12bn Sainsbury’s approach(3)

Qatar-based investment vehicle Three Delta has confirmed its preliminary bid approach to Sainsbury’s, the UK supermarket chain that rejected a £10 billion offer from a private equity consortium in April. The company’s share price soared this morning.

Ithmaar appoints McKinlay as executive director(2)

Stormberg Partners founder Michael McKinlay has been appointed executive director of Ithmaar Bank’s private equity team.

Great Circle buys $21.1m stake in Russian logistics firm

Stamford, Connecticut-based Great Circle has made its second investment in Russia with the injection of $21.1 million of growth capital into logistics company STS Logistics.

Montagu buys hair styling business from LDC(3)

Lloyds Development Capital has made an exit from the company behind iconic hair-styling brand ghd after just 12 months, selling it to Montagu Private Equity for £160 million.