Weekly Roundup of Confidential Equity Investment News
In the world of business and sports, two significant stories are unfolding.
Firstly, private equity firms EQT and Vitruvian Partners acquired CFC, a leading cyber insurance group, in 2021. Now, CFC is considering various listing venues, including the US and potentially a London IPO, as they explore strategic options for their next phase of growth. The value of CFC at the time of acquisition was just over £2.5bn.
Secondly, Apollo Global Management is in advanced discussions to acquire a stake in Atlético Madrid, the Spanish LaLiga club. The club is valued at around €2.5 billion to €3 billion, and Apollo's initial interest was in financing Atlético's €800 million Parque Metropolitano real estate project near the stadium. However, discussions have evolved, with Apollo proposing to buy shares in Atlético HoldCo, potentially securing a majority stake and control over the club.
Despite the initial reluctance from major current shareholders, including CEO Miguel Ángel Gil Marín and president Enrique Cerezo, who are reportedly unwilling to sell their shares but might allow new equity issuance for Apollo's stake, no formal offer or negotiations have been confirmed.
Meanwhile, Froneri International, a UK-based ice cream group co-owned by PAI Partners and Nestlé, is close to securing a €3.9bn debt package. PAI Partners is preparing to roll its 50% stake in Froneri into a continuation vehicle.
These developments mirror a broader private equity trend of using recapitalisations and secondaries to return capital to investors during a sluggish M&A environment. In the case of CFC, a London IPO could value the company at more than £5bn.
No decisions have been made in either case, and the discussions are ongoing. The potential listings and acquisitions are significant moves that could shape the future of these companies and the industries they operate in. Stay tuned for more updates as these stories continue to unfold.
[1] Source: Financial Times [2] Source: Sky News [3] Source: Reuters
- In the deal with CFC, private equity firms EQT and Vitruvian Partners previously acquired the leading cyber insurance group for a value of over £2.5bn, and now they are exploring various listing venues, including a London IPO, to secure capital for their next phase of growth.
- Apollo Global Management is in advanced discussions regarding a deal to acquire a stake in Atlético Madrid, a Spanish LaLiga club valued at around €2.5 billion to €3 billion, with intentions to secure majority ownership and control through the purchase of shares in Atlético HoldCo.
- As part of a broader private equity trend, PAI Partners is preparing to roll its 50% stake in Froneri International, a UK-based ice cream group, into a continuation vehicle, allowing the firm to return capital to investors during a sluggish M&A environment.
- Potential listings and acquisitions in the stories of CFC and Atlético Madrid, as well as Froneri's upcoming debt deal, could significantly shape the future of these companies and their respective industries.
