Western Europe

Swiss group rebuffs BC and Cheyne

European buyout firm BC Partners and Cheyne Special Situations Fund have been refused access to the books of Quadrant, a Swiss plastics group, despite offering a significant premium to the company’s share price.

Partners Group profits up 72%(3)

Mid-year profits for Swiss alternative asset manager Partners Group have risen 72 percent compared to the same period last year, while its assets grew more than 60 percent.

Enterprise Investors makes 10x return from IPO

Central and eastern European buyout firm Enterprise Investors has made a ten times return on its partial exit from financial services company Magellan.

‘Mother of all tax hikes’ opposed by industry groups, Republicans

The Private Equity Council, National Venture Capital Association, International Council of Shopping Centers and many Republican lawmakers have come out in opposition to legislation introduced yesterday that would significantly increase US taxes for alternative investment fund managers.

Marel pressures Candover Stork bid(2)

Icelandic food processing group Marel has upped its stake in Dutch conglomerate Stork placing pressure on UK buyout firm Candover’s accepted bid.

Piper makes 6x return from Las Iguanas(3)

Piper Private Equity has sold its minority stake in UK Latin American-themed restaurant chain Las Iguanas to Bowmark Capital for £27 million, registering a 6 times return with a 40 percent IRR over five years.

Darling to pronounce on buyout taxes

The UK Treasury is set to reveal its planned changes to the tax treatment of private equity later today. It is believed Chancellor of the Exchequer Alistair Darling will single out the industry in a bid for popularity.

BarCap hires Morgan Stanley leveraged finance director

The investment banking arm of UK bank Barclays has appointed Ramon Walsh to its leveraged finance team confident the loan market will recover in 2008.

Milestone makes it six for 2007(2)

Milestone Capital Partners has made yet another exit, with the £70 million sale of hotel business The Eton Collection to rival group JJW Luxury Collection.

UK mid-market continues to flourish

As the latest data shows the UK mid-market continues to perform strongly, a new survey reveals that almost half the buyout firms in the UK are targeting companies in the £50-£150 million valuation range.