Deals, Deals, Deals

UK & Ireland

• TDR Capital, private equity owner of David Lloyd, is exploring options for the UK-based gym chain. The process could value the operator of 130 clubs at £1.8bn-£2.3bn.

• 3i has launched the auction of MPM Products, a UK-based pet food business, which is reportedly being marketed off £30m EBITDA.

• Bakkavor has rejected an unsolicited takeover offer from Greencore, which sought to create a £4bn food group.

• Clanwilliam Group, an Ireland-based healthcare technology company, has agreed to be acquired by TA Associates. The sale price is undisclosed but reportedly around €410m.

• BP is looking to sell a 50% stake in its solar subsidiary Lightsource BP.

• Ultra PCS, backed by Advent International, is exploring a potential sale. The transaction could be valued at $1bn.

• Xeinadin, a UK-headquartered Anglo-Irish accountancy group backed by Exponent, has acquired Warren & Partners, a Dublin-based tax advisory firm.

• Curve, the digital wallet and payments platform, has secured a £37m investment led by Hanaco Ventures.

• NHS landlord Assura has received an improved acquisition proposal from KKR and Stonepeak, valuing the company at £1.6bn, a 31.9% premium to its previous closing share price.

• Modella Capital and Alteri Partners, both specialists in acquiring distressed retail assets, are the final bidders in negotiations to acquire the high street operations of WH Smith.

• abrdn is reviewing strategic options for Finimize, its investment news publishing subsidiary.

• Kantar's owners are exploring a £5bn+ sale of its Worldpanel unit.

• Forcepoint, an Austin-based cybersecurity firm backed by Francisco Partners, has agreed to acquire Irish AI company Getvisibility.

• Cobalt Holdings, a newly established cobalt investment company, is said to be aiming to raise £180m via a London flotation backed by Glencore.

• European discounter Pepco Group, has received interest from potential buyers of its struggling 825-store Poundland business in Britain.

Central & Northern Europe

• A consortium of Warburg Pincus and KKR is in discussions to acquire Gerresheimer, a German manufacturer of packaging for drugs and personal care products with a market cap of €2.7bn.

• The owners of Verisure, majority-owned by Hellman & Friedman, are considering a €20bn IPO on Euronext Amsterdam.

• Northvolt, the Sweden-based electric vehicle battery maker, has filed for bankruptcy in Sweden.

• bluu unit, backed by Triton has acquired Koschke, a German HVAC installation specialist.

• CVC has sold a 15% stake in Swedish optical company Synsam, valued at c.$92m.

• Equistone-backed BUKO has acquired Road Rental Scandinavia, a Sweden-headquartered traffic management solutions provider.

• Euronext has entered into a definitive agreement with Visma to acquire Admincontrol, a Nordic and UK-based governance and secure collaboration SaaS provider, at an enterprise value of €398m.

• Fressnapf, the German pet supplies group, has sold its production company BAF Petfood to The Nutriment Company, a Swedish premium pet food manufacturer.

• Swedish independent fund manager Brock Milton Capital AB has announced its intention to list on the Nasdaq First North Growth Market.

• Scopevisio AG, a German cloud-based business automation provider with more than 7,500 customers, has partnered with Hg as its new investor.

• Apax Partners is preparing a sale of Solita, the Finnish IT services business, later this year. Solita had €40m EBITDA in 2024.

• ECM Equity Capital Management is expected to bring YellowFox, a Germany-based telematics software provider with €12m EBITDA, to market.

Western & Southern Europe

• Partners Group is preparing for the IPO of Ammega Group, a Netherlands-based manufacturer of conveyor belts. The business could be valued at $4.6bn.

• The Babel Community, a French co-living real estate platform, has received €41m in investment from Swiss family office Apres-demain.

• Pershing Square Capital Management has sold a 2.73% stake in Universal Music Group NV, raising €1.3bn.

• Proa Capital, owner of La Casa de las Carcasas, is selling its 65% stake in the Spanish mobile accessories wholesaler. The business posted €70m EBITDA last year.

• Virya Energy, the energy arm of Belgium's Colruyt family, is looking to sell its 60% stake in Geoxyz, which operates a fleet of 30 ships and has turnover of €153m.

• Advent International is exploring the sale of Donte Group, a Spanish dental clinic chain with €80m+ EBITDA.

• Carrefour has received conditional approval from the French competition regulator for its €1.05bn acquisition of Cora and Match banners in France from Belgium's Louis Delhaize Group.

• Emeria (formerly Foncia), backed by Partners Group and TA Associates, has hired Cambon Partners to advise on the sale of its insurance brokerage subsidiary Assurimo, which has €20m EBITDA.

• Waterland, a Netherlands-based private equity firm, has acquired a significant stake in Auren, a Spanish auditing, consulting, and law firm with €96m turnover last year.

• InfraVia has hired Lazard to advise on the sale of Celeste, its French B2B telecom operator, which is being marketed off €50m EBITDA.

• Greenbridge, a Luxembourg investment company, is preparing for a stock exchange listing.

• EQT, alongside co-investors ADIA and Auba Investment, has pushed ahead with a CHF 1.3bn sell-down in Swiss skincare company Galderma.

• Air Europa’s owner, the Hidalgo family, has received competing bids from Lufthansa and Air France-KLM for the Spanish airline.

• Cirsa, the Spanish gaming and leisure company owned by Blackstone, has postponed its IPO until after Easter. The listing is expected to raise €700m - €1bn, with at least 25% of Cirsa floated.

• Prada is close to acquiring Versace from Capri Holdings. The deal is valued at €1.5bn, potentially rising to €2bn if Prada also acquires Jimmy Choo.

• Namirial, the Italian software company, has drawn interest from private equity firms, with a potential valuation of €900m.

• Ardian is likely to acquire a 50% stake in Italian airport operator Save for over €1bn.

• AlfaGomma, an Italian manufacturer of high-pressure rubber tubing with €650m turnover and €100m+ EBITDA, could be put up for sale by the Milan Commercial Court due to a shareholder dispute.

• Panini, the Italian maker of sports stickers and collectibles, has hired Lincoln International to scout for a private equity partner. Panini reported €1.5bn turnover and €384m EBITDA in 2023.

Fresh Powder

• Nordic Capital is targeting €10bn for its latest flagship fund, according to sources familiar with the situation.

• L Catterton has secured over €800m in commitments for its fifth European consumer fund.

• International Airlines Group (IAG) is launching IAGi Ventures, a €200m investment vehicle over five years.

• bd-capital, the pan-European operator-led investment firm, has closed its second fund at €430m, exceeding its €350m target.

• Queen’s Park Equity (QPE), a UK private equity firm, has filed for a second fund of £275m (€327m).

• OpenOcean has launched a new €130m fund targeting early-stage, category-defining software companies, with €100m raised thus far.

• Trinity Investment Management plans to establish its first private equity fund in CEE, targeting investments in food sector companies.

• Vendis Capital, the European consumer specialist private equity firm, has reached the €525m hard cap for its fourth fund, Vendis IV.

• SWEN Capital Partners is aiming to hold a €150m first close of its second ocean impact fund next week.