Less than a month after closing its seventh flagship fund on a whopping €16 billion, CVC Capital Partners has conducted a pair of purchases worth more than €1 billion combined. The firm has acquired online travel agency Etraveli from German media conglomerate ProSieben for €508 million and, in a separate transaction, British IT training provider QA, with the Financial Times reporting a price of £700 million.
To top it off, the firm has chosen advisors to sell soup and sauces provider Continental Foods in a deal that could be worth more than €1 billion, per Reuters. CVC has backed Continental Foods since buying it from Campbell Soup for a reported €400 million in 2013.
In terms of deals completed so far this year, CVC doesn’t even crack the top 20 among European investors. When it comes to deals announced in the first six months of 2017, though, no firm in the region has been more prolific. CVC has unveiled 12 new investments so far this year, per the PitchBook Platform, one of only two firms (along with Ardian) to top five new deals. With its €16 billion fund in the books, that pace doesn’t figure to slow down any time soon.
Article by PitchBook
