Deals

Litorina takes over Swedish credit card protection company

Litorina Kapital has bought Securia Systems, a personal insurance and protection company that has enjoyed 90 percent sales growth over the last two years.

Duke Street clinches CI Traders take-private

Duke Street Capital and a consortium of other buyout firms has had its £260 million bid for UK retailer CI Traders accepted – soon after the company rejected a bid from Alchemy Partners.

Mid Europa Partners completes first Serbian leveraged buyout

Central and eastern European buyout specialist Mid Europa Partners has acquired television and internet company Serbia Broadband from Bedminster Capital Management, in the country’s first leveraged buyout.

Cov-lite and Cov-loose every time

As ratings agency Standard & Poor’s criticises covenant loose loans for being covenant-lite by the backdoor, a senior banker tells Toby Lewis cov-lite loans will become extinct.

Boots chairman: let regulator decide on pensions

Alliance Boots chairman Sir Nigel Rudd thinks the UK Pensions Regulator should be allowed to decide the appropriate level of funding for the pension schemes of companies involved in buyout deals.

KKR jumps on the go-public bandwagon

Kohlberg Kravis Roberts is reportedly looking to join Blackstone as a listed company, while Apollo Management is also thought to be pursuing an offering

Bank of England warns lenders to buyouts

In a report likely to catch the attention of the UK Parliament’s Treasury Select Committee investigating private equity, the Bank of England has highlighted the increased risk of systemic failure if a large buyout defaults.

H&Q Asia Pacific promotes two in Seoul

Seol-based Jong Won Lee and Yuchul Rhim have become managing directors at the Silicon Valley-headquartered H&QAP.

Injaz Mena makes bumper return on electronic payments firm

Injaz Mena, an investment company based in the United Arab Emirates, made a 63 percent return in 14 months from its investment in Frankfurt-listed electronic payments company Smarttrac, demonstrating why there has been so much private equity interest in the sector.

Kreos hires partner after bumper year

Venture debt provider Kreos Capital has strengthened its senior team with the recruitment of Luca Colciago from Noble as a partner. The hire comes as the firm continues to invest its latest fund, which was closed in April and is being deployed at a rapid rate.