World’s largest interdealer broker TP Icap grabs rival Coex Partners November 30, 2017 Brokerage giant TP Icap, which was formed just last year in a £1.28bn deal, has hoovered up smaller Marylebone-based rival Coex Partners. TP Icap has paid an initial £7.1m for the firm, although this could rise over the next two years if performance conditions are met. In the first set of results since Tullett Prebon [...]
Servelec shares shoot up as former Biffa owner Montagu Private Equity makes a £224m bid November 23, 2017 London-listed software company Servelec has seen its shares rocket by more than 20 per cent this morning, as it received a £224m offer from private equity firm Montagu. Servelec, which serves the healthcare, social care, education, oil and gas and energy and utilities sectors with hardware and software, has recommended that shareholders accept Montagu's offer. [...]
Pret a Manger private equity owner Bridgepoint confirms Burger King UK franchise buyout November 16, 2017 Pret a Manger owner Bridgepoint has confirmed that it will become the master franchisee of the Burger King brand in the UK. Reaching an agreement for an undisclosed amount with Burger King Europe, Bridgepoint will also acquire Caspian UK Group, one of the UK’s largest Burger King franchisees with 74 restaurants across the country. The [...]
Bollington and Wilsons insurance brokers merge as private equity firm Inflexion buys both November 6, 2017 Private equity firm Inflexion has boasted a double buyout this morning, as it announced the acquisition of Bollington Insurance Brokers and Wilsons Insurance Brokers. The UK-focused firm also added that it would merge the two companies to create Bollington Wilson Group, which will generate annual gross written premiums in excess of £120m. Both Bollington and [...]
Iconic sailing-wear brand Musto sets sail to Helly Hanson for £50m October 19, 2017 British outdoor clothing brand Musto, worn by the likes of Zara Phillips and yachtswoman Samantha Davies, has been sold to Norwegian sportswear company Helly Hansen for around £50m. Phoenix Equity Partners, the UK private equity firm which bought Musto in 2007 for £40m, has finally relinquished the company after an unusually long ten-year hold period. [...]
UK business software group Civica has just been sold by Canadian pension fund Omers for more than £1bn July 24, 2017 Business software group Civica has just been sold to Partners Group, a global investment manager with more than $66bn (£50.76bn) in assets under management, for £1.06bn. Omers Private Equity, the private equity branch of the Ontario municipal workers' pension fund Omers which also owns Vue cinemas, made a 2.6-times return on its original investment through [...]
China official warns over foreign takeovers as figures show outbound M&A levels have fallen this year March 20, 2017 China’s foreign exchange regulator has issued a warning over foreign takeovers. And Chinese companies appear to have slowed down their foreign takeover ambitions this year, following a bumper 2016. New Dealogic figures show that there has been a fall in the number of outbound Chinese deals, from 162 at this point last year to 134 [...]
Aberdeen Asset Management and Standard Life set out co-chief executive plans for “team players” Martin Gilbert and Keith Skeoch March 20, 2017 Aberdeen Asset Management and Standard Life have set out a plan for how their chief executives will both lead a merged company. After the £11bn merger was announced earlier this month, there had been City concerns about how, and whether, the co-chief exec structure could work in practice. They said today that Standard Life’s Keith Skeoch [...]
Chris Hohn’s Children’s Investment Fund has stepped up its bid to end the €8.5bn Safran-Zodiac deal March 20, 2017 Sir Chris Hohn’s activist hedge fund has stepped up its campaign to halt an €8.5bn (£7.4bn) takeover. And now, it’s getting personal. The Children’s Investment (TCI) Fund has written to the board members of Safran, the aircraft engine maker that has agreed to buy plane-seat maker Zodiac, threatening to sue them personally if the deal goes [...]
One in four UK deals broke down last year, and more M&A collapses are expected in 2017 March 20, 2017 One in four deals involving UK listed firms broke down in failure last year, new analysis today shows. And, with further economic and political uncertainty on the way, more disrupted deals are thought to be on the cards this year. Read more: Jupiter boss plays down M&A rumours: "We’re not looking to be acquired" Accountancy firm [...]
