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private equity

Huntsman settles for $1 billion over failed merger but continues action against investment banks

December 15, 2008

Family-owned chemical company Huntsman has terminated its merger agreement with Hexion and settled out of court for $1 billion.

Family-owned chemical company Huntsman has terminated its merger agreement with Hexion and settled out of court for $1 billion. However, it is continuing its multi-billion dollar lawsuit against Credit Suisse and Deutsche Bank.

Huntsman has launched several lawsuits – amounting to $3 billion – against Hexion and its private equity owners Apollo following the latter's announcement in June that it would be pulling out of the merger because the new company would be insolvent.

Huntsman family wins sweet victory over private equity firm

September 30, 2008

Family-owned Huntsman Corporation has won its court battle with private equity firm Apollo Management over the proposed merger with Hexion Specialty Chemicals.

The Chancery Court in Delaware ordered Hexion to consummate the merger as quickly as possible. It also decreed an extension to the merger termination date if Hexion does not fully comply with its order.

Apollo and Hexion filed a lawsuit against the family company in June claiming it would be insolvent should the merger, which was originally signed in September 2007, go through.

Private equity’s role in selling the family business

September 1, 2008

James Phillipps looks at how private equity can help family businesses to unlock extra value within the family business to aid a future sale

The term often brings with it connotations of men in suits gutting established firms and heavy-handed management, but private equity can be a useful tool for families looking to increase the value of their company, with the medium- to long-term goal of selling out at a much higher price.

New private equity fund targets EU family businesses

May 7, 2008

PAI Partners, one of the oldest private equity firms in Europe, is targeting family-owned companies for its new €5.4 billion fund.

PAI Partners, one of the oldest private equity firms in Europe, is targeting family-owned companies for its new €5.4 billion fund. The fund, PAI Europe V, closed yesterday and is the largest private equity fund ever raised in continental Europe.

"We think there are thousands of important family-owned companies in France, Spain, Italy and Germany, which will need to change hands for all sorts of reasons in the coming years," said Dominique Mégret, chairman and CEO of PAI, without mentioning any companies by name.

UK family firms are more important to economy than private equity

February 29, 2008

Family businesses are twice as important to the UK economy as private equity-backed firms, according to a report.

Family businesses are twice as important to the UK economy as private equity-backed firms, according to a report. The UK Family Business Sector report by the Institute of Family Business suggests that family firms generate sales of €1,392 billion compared to €555 billion from private equity-backed firms. The sectors also account for 9.5 million and 2.8 million employees respectively.

The report also suggests that family firms account for 65% of all the private sector enterprises in the UK and are responsible for around 31% of GDP in the whole economy.

Expert advice from the real estate professionals

September 1, 2007

Families in Business chaired a roundtable meeting at the Families in Business real estate conference in London to discuss the current state of global real estate – how, where and when to achieve maximum returns

Roundtable panel
Javier de Muguiro is the founder of Achievers Capital, a multifamily office based in Spain.

A Gulf of opportunity

January 1, 2007

Governments in the Middle East have recently removed regulatory obstacles to stock exchange investment, creating a crucial opening for private equity in the region. Andy Rosenbaum looks at how family businesses in the region can benefit

Andy Rosenbaum is a freelance journalist based in the UK.

A strategic choice

March 1, 2006

Family businesses never had it so good since private equity investors realised they are an extremely lucrative investment option. But don’t jump in, says François de Visscher, do your research and make sure you choose the right partner for your particular business

François de Visscher is founder and president of the family business consultancy de Visscher & Co. www.devisscher.com

Family businesses never had it so good since private equity investors realised they are an extremely lucrative investment option. But don't jump in, says François de Visscher, do your research and make sure you choose the right partner for your particular business

Towards growth

March 1, 2006

Introducing private equity into a business can make a world of difference in terms of growth propects. 3i's Michael Queen tells Scott McCulloch how, in addition to capital, he can offer well-managed businesses strategic input and access to a global network

Scott McCulloch is editor of Families in Business

Capital attraction

November 1, 2005

Several factors determine why a family business seeks to attract external capital, ranging from expansion to a change in generational ownership. Mark Dye spoke to John Mackie of Parallel to find out if obtaining private equity is the answer

Mark Dye is a freelance journalist based in London.

Today the UK represents the second largest private equity industry in the world, second only to the US. Already the largest in Europe, last year the UK marketplace represented more than 50% of total European activity in private equity.