Western Europe

3i and Litorina sell Q-Matic to Altor for bumper gain

UK buyout firm 3i and Swedish buyout firm Litorina Kapital have sold Q-Matic to Nordic buyout firm Altor, making a nine times return on their initial investment and registering a 150 percent IRR over three years.

Stirling Square bolts on Austrian firm to 3SI(2)

Stirling Square Capital Partners, a mid-market buyout firm backed by Citigroup, has moved to consolidate the financial security market by making a European bolt-on acquisition for portfolio company 3SI Security Systems.

Blackstone may float on Friday

Morgan Stanley has reportedly revealed Blackstone’s IPO pricing will be brought forward to Thursday and the units may go on sale as soon as Friday.

The web’s second coming(2)

The energy at Library House’s Essential Web Forum this week in London reflected the excitement UK entrepreneurs and VCs are feeling following the Last.fm sale. But will web 2.0 solve its monetisation conundrum? Dave Keating reports.

China tied to Blackstone for seven years

Fresh details have emerged in Blackstone’s latest pre-IPO filing with the US Securities and Exchange Commission about the long-term nature of its deal with China’s overseas investment vehicle.

Buyout firms circle £1.5bn Bupa hospital portfolio

A range of private equity firms have expressed interest in UK healthcare business Bupa’s hospital portfolio. The healthcare business is believed to be selling because of regulatory concerns that its hospital business is a conflict of interest with its insurance arm.

Terra Firma offloads 50% holding in German motorway service operator

The UK firm has retained an interest in Tank and Rast Holding rather than selling it outright, after striking a deal to sell 50 percent to the infrastructure division of Deutsche Bank for a reported €1.2 billion.

BC seals $16bn Intelsat deal(3)

BC Partners, a publicity-shy European buyout firm, has followed its acquisition of estate agent Foxtons by agreeing to buy Intelsat, the world’s largest commercial satellite operator. It is the firm’s biggest deal to date.

Balderton increases Codemasters stake amid float rumours

Balderton Capital, the European venture firm that recently spun out of US group Benchmark Capital, has increased its stake in Codemasters, a UK-based video game develop, by buying out the company’s founders. The firm is simplifying the ownership structure ahead of a possible flotation.

Three Delta ups stake in Sainsbury’s to 25%(2)

The investment vehicle of Qatari property investment fund Three Delta has upped its stake in Sainsburys. The FTSE 100 listed UK supermarket’s shares leapt by nearly 5 percent, as speculation suggested a takeover bid was forthcoming.