Mark Kleinman’s big predictions for the Square Mile in 2019 January 11, 2019 Sir Martin Sorrell’s WPP exit, Unilever’s HQ U-turn, Melrose’s swoop for GKN: 2018 was a year full of surprises in the City. And while forecasting might be a fool’s errand, here are 10 predictions for the year ahead. •Theresa May will decisively lose next week’s “meaningful vote” on Brexit: that’s not a punt that will [...]
Jamie Oliver looking for a pukka pay day as restaurants go to tender June 1, 2015 British private equity firm 3i has been named as one of several prospective bidders being courted to buy a significant stake in Jamie Oliver’s burgeoning restaurant empire. 3i, which counts itself among some of the UK’s oldest private equity firm’s, has previously invested in restaurant chain Giraffe, which it subsequently sold to Tesco. Bids for [...]
3i starts to enjoy fruits of Simon Borrows’ turnaround plan May 14, 2015 The UK’S oldest private equity group 3i topped the FTSE 100 yesterday after revealing another set of thumping results, bringing the curtain down on a dramatic turnaround which has transformed the once-underperforming company. Investors applauded the end of the three-year initiative to streamline the firm by chief executive Simon Borrows by sending shares 15.5p [...]
Buyout group 3i grows appetite for Yo! Sushi May 10, 2015 Suitors circling Japanese restaurant chain Yo! Sushi have entered a second round of bidding, with private equity firm 3i understood to be one of the frontrunners in the race. Yo! Sushi’s private equity owner Quilvest hired bankers at Canaccord Genuity last year to explore a sale of the business, with a price tag of around [...]
3i returns to UK market with Aspen Pumps swoop February 22, 2015 3i, the FTSE 100-listed private equity behemoth, is set to seal its first British deal since 2011 with the acquisition of Sussex-based manufacturer Aspen Pumps, it emerged yesterday. The buyout firm is on the verge of agreeing a deal with the manufacturer’s owner Inflexion Private Equity. The deal is expected to result in a considerable [...]
3i raises £245m from investment sales and clears way for more January 29, 2015 AGENT Provocateur owner 3i yesterday announced that strong market valuations had cleared the way for further disposals after it raised £245m from sales of investments in the final quarter of 2014. The private equity firm, which also owns women’s clothing chain Hobbs, said its sale of German automotive supplier Hilite and further sales of stakes in [...]
3i sees robust results but stays wary of Europe November 13, 2014 PRIVATE equity firm 3i delivered strong first-half results yesterday, but issued a warning about the increasing political uncertainty in Europe. The firm, which owns clothing brands Hobbs and Agent Provocateur, reported good earnings from its portfolio and that market conditions had been favourable for realisations, earning £324m from disposals in the six months to September. [...]
3i reaps benefits from portfolio sell off after cashing out £164m July 30, 2014 A PUSH by private equity group 3i to slim down its company portfolio is paying off after it reaped £164m from sales last quarter. The group, the oldest private equity company in the UK, said sales of German firm Hilite and French group Vedici would return a further £245m of cash back next quarter. The [...]
3i nets £150m from deal with Gherkin firm June 30, 2014 THE UK’S oldest private equity group has sold its stake in Foster + Partners back to the seminal architecture practice, which is best known for designing the City’s iconic Gherkin tower. FTSE 100-listed 3i, founded in 1945 in the aftermath of the second world war, will sell 40 per cent of the business back to [...]
3i cost pruning bears fruit for shareholders May 14, 2014 INVESTORS sent shares in UK private equity group 3i up nearly six per cent yesterday, after strong figures suggested its painful restructuring last year was beginning to pay off. 3i, which is among the UK’s oldest private equity investors, said it made a £5m operating cash profit in the year ending March 2013, reversing an [...]