“Price is what you pay, value is what you get,” Warren Buffett once said, harking back to days when money came to money and financial engineering could deliver a healthy return to private equity. But no more. Marc Mullen looks at how buy-out firms and their corporate finance advisers are driving value in their portfolios.
Alice Murray, founding editor of private equity title The Drawdown reviews the fourth edition of Private Equity Demystified in which John Gilligan and the late Professor Mike Wright explain the asset class.
Successful deal origination is important for corporate financiers. Marc Mullen speaks to advisers and uncovers private equity’s take on it
A degree of inflation is welcome, says Jon Moulton. He explains how it can be a friend to dealmakers rather than an enemy.
Investment in rugby in the past three years reflects pandemic-affected sport's bid to get back on a stable commercial footing. Nicholas Neveling asks why private equity is attracted to sport and finds rugby is one that is seen to have untapped potential.
As Henry Kravis and George Roberts step away from their giant investment company KKR, Sean Beaney reflects on Barbarians at the Gate, the book written about their $25 billion takeover of RJR Nabisco and the hyper capitalism of the late 1980s.
Interest in employee ownership is growing. Gerry Young and Tom Lethaby of RVE Corporate Finance, specialist advisers on employee ownership trust deals, talk about their experience of EOTs and the implications for CGT and M&A.
There are more than 5,000 private equity and venture capital-backed companies in the UK and about 90% of that capital is in SMEs. Gurpreet Manku looks at the key legal and reporting issues facing the sector, including the National Security and Investment Act, public interest entities and fund structures.
Having successfully weathered 2020’s COVID-19 storm, UK private equity has proven its resilience. Nicholas Neveling speaks to investors from across the Corporate Finance Faculty about the outlook for buy-outs, growth capital investment and exits over the next 12 months.
Just outside Doncaster is Yorkshire Wildlife Park, home to more than 70 different species. Independent private sector growth investment firm BGF is backing its expansion during the most uncertain economic times since the Second World War. Brian Bollen reports on the YWP, its history and what may be in store in future.
Completing an investment in a health sector business during lockdown is no mean feat. Jason Sinclair looks at how WestBridge Capital – advised by KPMG – persevered through hard times to back the Bespoke Health & Social Care management buy-out, completed in June this year
In January, Connection Capital made a healthy return selling Carter Accommodation, a construction industry business, to the French Modulaire Group in a deal done during COVID-19 restrictions. Jason Sinclair looks at how the company and its private equity overcame some big challenges.
Show you have the long-term interests of the business at heart, says Peter Barrand, managing director of Newable Capital, as he describes the process of investing in London Fire Solutions.
Gary Partridge, managing director of Lexington Corporate Finance, had to keep his nerve when advising on the carve-out and MBO of Improve International.
The enduring shift to online sales meant Virgin Wines’ IPO delivered a great outcome for all parties, says Mobeus director Ed Wass.
WestBridge Capital partner Guy Davies speaks to Marc Mullen about the challenges that face small-cap private equity in the UK, as well as detailing the achievements of WestBridge so far.
Six acquisitions in three years proved part of a successful growth strategy for LDC-backed communications provider Babble. In November 2020, a controlling stake was sold to Graphite Capital, valuing the communications business at £90m. Alice Murray finds out about a deal during lockdown, and where the high-tech company is going next.
Bloomsbury Core Accounting and Tax Service
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A chapter on buyouts in this step-by-step guide to the sale and purchase process, focusing on key commercial, tax and legal issues.
Private Equity Demystified
Exclusive to Faculty members, access the definitive book on private equity's role in global business investment and growth.