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European Buyouts Dominated by US Firms in 2006
The European private equity market was dominated by US-based companies in 2006 with most of the biggest buyers hailing from North America.
According to research conducted by data provider Thomson Financial, the biggest buyout firm for 2006 was US-based Kohberg Kravis Roberts, negotiating 5 deals throughout the year totalling a staggering £13.05bn.
Their shopping list for 2006 included the forklift truck division of German company Linde, NXP (a division of Dutch conglomerate Philips), AVR (waste services for the city of Rotterdam), a majority stake in French PagesJaunes (Yellow Pages), and Tarkett, a French flooring company. The company was also part of a consortium that purchased TDC, the Danish national phone operator, although these figures are not included in the 2006 tally as the deal was announced the previous year.
In the Top 10 of buyout giants we also find US firms Hellman & Friedman, Thomas H. Lee, Goldman Sachs Capital, Carlyle, and Blackstone. In Europe, the most active buyer was Netherlands-based AlpInvest Partners.
The remaining investors from the Top 10 are all UK-based firms: Apax Partners, a firm which specialises in early stage investments in enterprise applications & services, IT infrastructure, and telecommunications. 3i – a company which has been established for over 60 years – and finally Cinven, one of the most prominent and successful investors in the European buyout market.
www.businessinberkshire.co.uk/finance
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