Toby Lewis

Industry figures have come out in defence both of financial engineering and the range and diversity of the asset class saying it does not depend on leverage for returns.

The UK mid-market firm has paid only a seven times profit multiple to acquire an engineering company dependent on the oil and gas sector.

Google luminary Douglas Merrill has been recruited by Terra Firma to oversee EMI’s digital music strategy in a newly formed digital music division, as the UK buyout firm’s cost-cutting continues apace.

The number of companies being exited into receivership rose to it highest level in four years as the average value of buyout firm exits dropped by slightly more than 25 percent.

The firm has invested or committed most of the funds it raised in its initial public offering in April last year, ahead of its two year target to invest the money.

The UK investment firm has carried out the second AIM take-private this year as European mid-market buyout firms continue investing.

The FTSE 100 company, led by Philip Yea, remains confident that despite difficult market conditions, which may slow down its mid-market buyout business, its recently expanded growth capital team will be sheltered from the credit storm.

The banks have vowed to 'vigourously' fight the lawsuits, while a Texas judge has issued a temporary restraining order compelling them to fund the take-private bid.

The buyout boom reached a European deal volume record for the year fuelled by unprecedented amounts of leverage before the credit market problems ended the party.

The FTSE 100 company, led by Philip Yea, remains confident that despite difficult market conditions, which may slow down its mid-market buyout business, its recently expanded growth capital team will be sheltered from the credit storm.