Bowmark Capital closes £600m UK-focused fund amid Brexit uncertainty January 3, 2019 Private equity firm Bowmark Capital has raised £600m to invest in UK companies, indicating investor confidence in British business despite Brexit uncertainty. A total of 44 per cent of the capital has come from European investors, and 35 was invested from North America, the company said. The Bowmark Capital Partners VI fund reached its target in [...]
Take-private deals worth more than $1bn set to increase in 2019 December 18, 2018 Private equity buyouts of public companies over $1bn could increase next year as firms fight to find value. Take-private deals are likely to be much larger than other buyouts generally, with figures from Pitchbook showing that the median size this year was $977m, compared to the average non-take-private deal size of $175m. A third of public-to-private [...]
LVMH is set to buy hotel group Belmond in a deal worth $3.2bn December 15, 2018 Hotel group Belmond is set to be acquired by LVMH for $3.2bn (£2.54bn) as the world's largest luxury group bolster their hotel portfolio. LVMH already owns Cheval Blanc hotels in Courchevel, the Maldives, Saint-Barthélemy and Paris as well as owning Bulgari Hotel and Resorts and will now add Belmond's hotels across 24 different countries to its ranks. [...]
Culture and creativity will drive a new golden era for the UK and China December 6, 2018 The strength of Britain’s technological and creative industries, combined with the longstanding value of its archetypal brands, has given rise to a growing desire among Chinese companies to invest in the UK. This follows on from the strong trade ties between the two nations. The UK exported £22bn worth of goods and services to China [...]
Private equity giant Bain Capital drops out of race to buy FTSE 250 plastic-maker RPC December 3, 2018 US private equity giant Bain Capital has dropped out of the race to buy FTSE 250-listed plastic maker RPC. RPC said this morning that the pair had “mutually agreed to terminate discussions”. Discussions with Apollo Global Management “remain ongoing”, RPC said this morning. RPC's share price fell 4.1 per cent to 687p this morning. According to takeover [...]
Profit slips at private equity takeover target RPC November 28, 2018 Plastics maker RPC today announced a slight dip in profit ahead of a deadline for its US private equity suitors to make firm bids for the business. RPC said its adjusted profit before tax fell two per cent to £188.9m in the six months to September 2018. Revenue for the six months was £1.892bn, a [...]
Entrepreneurs should be selective with their investors November 27, 2018 It’s not a secret that London is the fintech capital of Europe. Startups and tech entrepreneurs can flourish here because of the concentration of world-class financial services, and the access available to funding from a variety of key players. However, the nature of investment in tech startups is undergoing a process of significant and positive [...]
KPMG faces tribunal for its work for mattress firm Silentnight November 22, 2018 Audit firm KPMG and one of its partners face a tribunal over work for mattress firm Silentnight, the accountancy watchdog said today. The Financial Reporting Council (FRC) today delivered a formal complaint against the firm and restructuring partner David Costley-Wood. The FRC alleged that KPMG and Costley-Wood acted for Silentnight “in circumstances where their professional judgment [...]
Restaurant Group shareholders voice anger over £600m Wagamama price tag November 20, 2018 Nervous investors have raised concerns over the price of the Restaurant Group’s (TRG) proposed £600m acquisition of Wagamama as a major shareholder announced its intention to vote against the deal. Columbia Threadneedle, which owns 7.7 per cent of TRG, will oppose the proposal at a shareholder vote next week, it announced today. Frankie and Benny’s owner [...]
Europe’s real estate investors dominate central London commercial market November 19, 2018 European buyers dominated Central London’s commercial property market in the third quarter of 2018, according to a new Knight Frank survey which underlines investor appetite from the continent. Accounting for almost 40 per cent of Central London’s market share by price, buyers from across Europe are on course to exceed their 10-year average levels of [...]