Belgium

Private equity and venture capital news from Belgium

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• CapMan sells investments and commitments in its own funds to Gimv 07 Aug 2009. Source: AltAssets. Listed alternative asset manager CapMan will sell €17m worth of fund investments and commitments in its own funds in a secondaries deal that marks a transaction between GP and GP.

• US energy storage technology company Solicore closes first phase of Series D round 29 Jul 2009. Source: AltAssets. Solicore Inc, a developer, manufacturer and supplier of ultra-thin, flexible lithium polymer batteries, has closed the first phase of its Series D preferred stock financing round. The company has raised $12.2m to date in this round and expects a second closing within three weeks that will bring the total of the Series D round to approximately $13.3m.

• Just-Eat completes £10.5m Series A funding 13 Jul 2009. Source: AltAssets. Just-Eat, a European site for ordering meals online, has closed its first institutional financing. European venture capital firm Index Ventures led the £10.5mn round, with Venrex Investment Management and existing shareholders also participating. The capital will be used to consolidate the company’s leadership position in the UK and to expand into additional territories across Europe, the company said.

• Belgian RHJ shows renewed interest in Vauxhall 01 Jul 2009. Source: AltAssets. Brussels-based private equity firm RHJ International has shown renewed interest in acquiring a controlling stake in troubled car manufacturer Vauxhall/Opel, the Guardian reports.

• Candover approached for Belgian nappy business 30 Jun 2009. Source: AltAssets. Candover has been approached by a number of potential bidders for its Belgian personal hygiene business, Ontex, the Financial Times reports.

• Belgian private equity firm Gimv holds second close of Gimv-XL on €560m 23 Jun 2009. Source: AltAssets. Gimv, a Belgian private equity firm, has received a further €60m for the second close of its Gimv-XL fund, with new commitments from Dexia Bank, ING Belgium and Ethias.

• Gimv hires cleantech advisor 03 Apr 2009. Belgian private equity firm Gimv has appointed Marc Van Sande to the advisory board of Gimv Technology.

• Belgian private equity firm Gimv invests €75m in food company Vandemoortele 30 Mar 2009. Gimv, the Belgium-based private equity and venture capital firm, has agreed to invest €75m in Vandemoortele Group, a Belgian food company.

• Gimv appoints head of XL fund 09 Feb 2009. Source: AltAssets. Belgium-based private equity and venture capital firm Gimv has appointed Peter Maenhout to head its XL fund as executive vice president. In his new role he will also oversee the firm’s Belgian buy-out and growth capital activities.

• Siparex exits investment in electrical equipment manufacturer 30 Jan 2009. Source: AltAssets. French private equity firm Siparex Group has sold its stake in Belgian electrical equipment group Guillaume Teco to Benelux-focused private equity firm BV Capital Partners.

• Gimv holds €500m first closing on XL fund, invests in cleantech company 19 Dec 2008. Source: AltAssets. Belgian listed private equity firm Gimv has completed the first closing of its XL fund on €500m. The firm has also invested €25m in cleantech company Electrawinds.

• GIMV appoints Koenraad Dejonckheere as CEO 15 Jul 2008. Source: AltAssets. Belgian venture capital firm GIMV has appointed Koenraad Dejonckheere as its new CEO, replacing Dirk Boogmans.

• 3i sells ABX to DSV 23 Jun 2008. Source: AltAssets. 3i and other shareholders have agreed to sell XB Luxembourg Holdings 1, the parent of the Brussel-headquartered freight forwarder ABX LOGISTICS Worldwide Group. The aggregate price of the entire share capital, on a debt and cash free basis (enterprise value) is €750m.

• L Capital to acquire Princess Yachts 04 Jun 2008. Source: AltAssets. L Capital, an investment group sponsored by luxury brand group LVMH and Groupe Arnault, the investment vehicle of French billionaire Bernard Arnault, has agreed to acquire high-end yacht company Princess Yachts International for a reported £200m.

• GIMV, KBC establish joint investment vehicle for Russia 12 Feb 2008. Source: AltAssets. Belgian private equity firms GIMV and KBC Private Equity have teamed up to establish a new firm, Eagle Capital Partners, to target the Russian market. The firms are planning to invest around €10m each per year over the next three years.

• 3i Benelux appoints Marc van Gelder, Marcel van Poecke to advisory board 07 Dec 2007. Source: AltAssets. Marc van Gelder and Marcel van Poecke have joined the 3i Benelux advisory board. This follows Laurens Jan Brinkhorst, the former Minister of Economic Affairs in the Netherlands, joining the advisory board in February.

• Lion Capital to acquire specialty retailer AS Adventure Group 14 Nov 2007. Source: AltAssets. Lion Capital, a London-based private equity firm with a focus on the consumer sector, has agreed to acquire AS Adventure Group, a specialty retailer of branded outdoor equipment and clothing in Belgium, the UK and the Netherlands, in a €263m transaction, including debt.

• Capricorn Venture Partners raises €50m for latest cleantech fund 01 Oct 2007. Source: AltAssets. Belgian venture capital firm Capricorn Venture Partners has announced that it has raised €50m for its Capricorn Cleantech Fund, and aims to reach €75-100m by the end of this year. The fund held its first closing in November 2006.

• CVC to buy Taminco in €0.8bn deal 05 Jul 2007. Source: AltAssets. CVC Capital Partners has reached an agreement - subject to regulatory approval - to acquire Belgium-based Taminco, a producer of alkylamines and derivatives, from AlpInvest Partners.

• Apax-led consortium to sell Cartesis to Business Objects 23 Apr 2007. Source: AltAssets. An investor group led by Apax Partners SA has agreed to sell Cartesis, a provider of business performance management software, to Business Objects in a €225m transaction. The vendor consortium did not disclose any return information.

• GIMV backs Emerald cleantech fund with an extra €18m 13 Apr 2007. Source: AltAssets. Belgium-based GIMV will pump another €18m into the cleantech fund of Emerald Technology Ventures, raising its total commitment to €30m. GIMV stated its ambition to become a European leader in VC-funded cleantech investments.

• Waterland Private Equity strengthens German team 11 Oct 2006. Source: AltAssets. Waterland Private Equity Investments, an independent private equity firm operating in The Netherlands, Belgium and Germany, has strengthened its senior investment team in Germany. The firm has appointed Jörg Dreisow as investment director and David Zimmer as senior investment manager.

• Gilde Buy Out Partners closes third fund on €600m 05 Sep 2006. Source: AltAssets. Gilde Buy Out Partners, a mid-market buy-out specialist with a focus on the Benelux and the French and German-speaking regions, has closed Gilde Buy Out Fund III on €600m. The fund was launched in September 2005. There were two interim closings: a first closing on €315m in September 2005 and a second closing on €490m in January 2006.