Barbarians at the gate? Private equity bonanza fails to materialise Dealmaking A flurry of predicted private equity deals failed to rear its head last month as sticky inflation and more interest rate pain forced dealmakers to reconsider an offensive, according to a London investment bank.
Meet the man who quit the City to reinvent the film industry, one documentary at a time City banker Julian Bird set up Lorton Entertainment to show that investing in films could be profitable, and documentaries on Diego Maradona, Oasis and Wayne Rooney have proven him spectacularly right. “I’m not really a massive film fan,” says City banker-turned-unlikely movie mogul Julian Bird. It’s perhaps a surprising statement from someone who has been [...]
CVC Capital Partners moves into women’s tennis with £125m WTA deal Seeking a return The Women’s Tennis Association (WTA) is close to confirming a £125m ($150m) investment from CVC Capital Partners, according to reports. A deal would see prolific sports investors CVC take a 20 per cent stake in the WTA, which runs the main women’s tennis tour, reports Mark Kleinman for Sky News. CVC and the WTA would [...]
Everton investment blow as MSP Sports Capital switches focus to £3.1bn Tottenham Hotspur takeover February 15, 2023 Everton’s hopes of securing investment have suffered a blow after US private equity fund MSP Sports Capital reportedly turned its attention to a takeover of Tottenham Hotspur. MSP held talks about buying a minority stake from Everton majority shareholder Farhad Moshiri, who is seeking investment to help the cash-strapped club fund its new stadium build. [...]
Saga looks to sell off insurance business to help pay down £721m debt January 22, 2023 Saga is reportedly seeking to sell its in-house insurance business in a bid to raise £90m to help pay down its huge £721m debt. The London-listed company, which offers cruises, package holidays, insurance, and financial services to the over-50s, is looking for buyers for its underwriting arm, according to The Sunday Times. Any sale of [...]
EXCL – Why Private Equity’s appetite for aggressive takeovers will only increase in 2023 December 29, 2022 It’s no surprise that economic turmoil often drives consolidation. Companies may be struggling to survive and looking to M&A as a way to drive value. Not to mention the current weak pound that makes UK-based businesses, especially those with a global footprint, more attractive to overseas buyers. City experts don’t expect that to change in [...]
Saturday Sitdown: ‘Private equity keep everything simple’, says City M&A chief November 26, 2022 It’s no surprise that economic turmoil often drives consolidation. Companies may be struggling to survive and looking to M&A as a way to drive value. Not to mention the current weak pound that makes UK-based businesses, especially those with a global footprint, more attractive to overseas buyers. According to recent ONS data, Q2 this year saw [...]
Biffa CFO to leave waste management firm for packaging manufacturer DS Smith November 18, 2022 Biffa’s financial chief has stepped down from his position as the waste management firm’s chief financial officer to join packaging manufacturer DS Smith. Biffa CFO Richard Pike is set to leave his position after four years at the UK’s second largest waste manager. Pike’s exit comes after US private equity firm Energy Capital Partners (ECP) [...]
Value of private equity-backed ‘carve outs’ triples due to Covid and war in Ukraine September 20, 2022 The value of private equity-backed “carve out” deals, through which funds buy up an entire business line, subsidiary, or unit, has more than tripled over the past year. The value of carve out acquisitions by private equity funds jumped threefold from £3.8bn last year to £13.4bn in the year running up to 31 August 2022, [...]
Rolls-Royce finalises £1.5bn sale of Spanish subsidiary to Bain September 15, 2022 Rolls-Royce has finalised the €1.8bn (£1.5bn) sale of Spanish subsidiary ITP Aero to a group of investors led by private equity giant Bain. Following the £1.5bn sale, shares went up 3 per cent. “ITP Aero will remain a key strategic supplier and partner for Rolls-Royce across both Civil Aerospace and Defence programmes,” Rolls Royce said [...]