The long-dormant buyout market might finally be emerging from its slumber as a trio of U.K. companies were scooped up by British private equity firms on Thursday.
One of the sales involved CPA Global, a leading legal process outsourcing firm, to London-based mezzanine lender Intermediate Capital Group. According to the Financial Times, ICG is paying $709 million to seal a management buyout of CPA, which is owned by 300 lawyers and patent officers. The deal is being financed with $363 million in debt from a syndicate of banks, and will result in ICG owning close to half of CPA.
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