Jo Nash

European buyout firm Argos Soditic has sold its majority stake in French fibre maker Kermel to Barclays Private Equity for an undisclosed amount. The deal has generated an internal rate of return of 88 percent for the Geneva-based firm.

ABN AMRO Capital, the private equity business of Dutch bank ABN AMRO, has bought a 74.6 percent stake in Dunlop Aircraft Tyres for about £40 million.

UK mid-market firm Gresham recently generated a twelve times return on its original investment when it exited Penn Pharmaceuticals – and it invested £30 million in bottle manufacturer Esterform Packaging. PEO caught up with Paul Thomas at Gresham to discuss these investments and wider trends in the mid-market.

A private equity consortium led by Providence Equity Partners is reportedly preparing a $15 billion bid for UK cable business Virgin Media.

Silex Media has bought Palamon Capital Partners’ stake in software solutions provider DAVID.

British Airways, Europe’s third biggest airline, has teamed up with a consortium of four private equity firms led by TPG about a potential bid for Spanish airline Iberia.

Several buyout firms including The Blackstone Group and CVC Capital Partners are reportedly battling it out in a £2 billion auction of UK fashion retailer New Look. The deal could make up to £1.3 billion for New Look’s owners Apax Partners and Permira.

AIG Capital Partners, an emerging markets private equity specialist, has bought a 42 percent stake in a Romanian telecoms business for €45 million. It is the firm’s latest investment in what has become an attractive destination for private equity.

Venture capital investment in young European companies declined in Q1 2007 – down to €1.4 billion. What are some of the challenges that young European businesses face when attracting VCs?

Beringea has backed the management buyout of TV and DVD maker Eagle Rock from European buyout firm Hg Capital – and it has led a £3 million investment in a UK data management company.