US private equity activity slumps in first quarter April 11, 2019 Private equity activity in the US slumped in the first quarter of this year following a record breaking year in 2018. US deal and exit count dropped 27.9 per cent and 42.5 per cent respectively between January and March this year. Read more: Private equity investment bounces back at the beginning of 2019 Year-on-year deal [...]
Permira prepares to appoint bankers to oversee sale or US IPO of British footwear brand Dr Martens April 10, 2019 Private equity firm Permira is planning a sale or US flotation of iconic British footwear brand Dr Martens. Permira, which bought Dr Martens for £300m in 2014, is preparing to hire bankers to review potential options for the company, Sky News reported. Read more: Rathbones and Tilney owner Permira sniff around Speirs & Jeffery Bankers [...]
Digital wealth management firm Yieldstreet buys Athena Art Finance from Carlyle in $170m deal April 10, 2019 A wealth management firm backed by billionaire George Soros has bought art collector lender Athena from Carlyle, the US private equity giant, for $170m (£130m). The deal is digital wealth management platform Yieldstreet’s first corporate acquisition following its recent $62m Series B funding round, which received backing from Soros Fund Management. Read more: Private equity investment bounces back [...]
Topshop billionaire Sir Philip Green slammed over potential pensions row as US investor backs out April 10, 2019 Sir Philip Green’s troubles escalated this morning as an influential parliamentary chair hit out at the billionaire tycoon and news emerged of a top US backer pulling out of his retail empire. The Topshop owner has been accused of being up to “old tricks again” by Frank Field, chair of the Work and Pensions Select [...]
Private equity investment bounces back at the beginning of 2019 April 9, 2019 Private equity investment in UK companies bounced back in the first three months of this year following a slump at the end of 2018, according to the latest data. Total deal value climbed from £6.1bn in the fourth quarter of 2018 to £8.9bn between January and March this year, a £3.9bn increase from the £5bn [...]
Gizmodo and The Onion snapped up by private equity firm Great Hill Partners April 8, 2019 US private equity firm Great Hill Partners has snapped up Gizmodo Media Group and The Onion from Spanish-language media giant Univision for an undisclosed sum. The newly-formed group, which will be renamed G/O Media, will be led by media veteran Jim Spanfeller, who previously served as chief executive of Forbes. Read more: Google hands out [...]
Lloyds Bank private equity arm LDC invests £17.6m in recruitment services firm Amberjack April 7, 2019 LDC, the private equity arm of Lloyds Banking Group, has invested £17.6m in graduate recruitment services firm Amberjack to support a management buy-out. The company, which provides careers services and software to major employers such as Unilever, Network Rail and BP, will use the equity to improve its software and technology products and explore acquisitions. [...]
While Westminster is distracted by Brexit chaos, Labour puts the finishing touches to its plan for revolution April 1, 2019 While the Brexit process pushes the British constitution to its limits, the Labour party continues to develop and promote policy proposals that, if implemented, would make the UK's torturous departure from the European Union look like a modest tweak to our political operating system. While all of Westminster focuses on the near collapse of functioning [...]
Former Lib Dem minister Michael Moore takes top job at British Private Equity and Venture Capital Association March 26, 2019 Former Liberal Democrat MP and front bench minister Michael Moore has been appointed as the director general of the British Private Equity and Venture Capital Association. Moore, who is currently a senior advisor at PwC, will succeed Tim Hames at the industry organisation later this year. Read more: Sir Vince Cable to step down as [...]
Inmarsat prepares to leave stock market in $3.4bn private equity deal March 25, 2019 Private equity firms have sealed a $3.4bn (£2.58bn) deal for UK satellite operator Inmarsat, sending its shares up seven per cent in early morning trading. The agreement will see the successful bidders pay $7.21 (546p) per share for the firm, a premium on its Friday close price of 506.2p. Read more: Inmarsat shares jump 16 [...]