Anyone for seconds?

Article Abstract:

Secondary buyouts will become an important trend of buyout management in Europe, as investors continually seek value for money in the buyout market. The US market is well versed in secondary buyouts and the trend is beginning to spread to Europe and the UK in 1998. Metric Group was purchased through a secondary buyout in 1997, when it was bought by HSBC Private Equity for 16 million pounds sterling. Metric was part of Incentive, which had been the subject of a buyout during the early 1990s. The lack of suitable investment opportunities will provide steady growth in the secondary market.

Europe

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UK management loses the initiative

Article Abstract:

UK management buy-in teams are finding the process of gaining financial backing less daunting during the end of the 1990s as the number of viable investment opportunities have steadily decreased in comparison to a rise in the amount of available funding. The trend has lead to the establishment of dedicated financial planners who actively pursue potential investment opportunities, creating a more aggressive market where institutional buyout (IBO) teams are encouraged. IBO's are being funded for deals smaller than the traditional 25 million pounds sterling.

Investment companies, Venture capital, Management buyouts

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Secondary buyouts - breaking the taboo

Article Abstract:

Greater confidence in the secondary buyout market has emerged in the European market, where first-time buyout opportunities traditionally are more risky and therefore less attractive to some investors. There is also less attention paid to the negative feelings attached to approaching an opportunity which may have been originally turned down or missed by a competitor.

Methods, Practice, Financial institutions

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