Deal Round-up 25/10/01

NWDC in buyout of Sargents; Lehman Brothers and Cazenove lead £9m third round for kVault; Demos raises E4.58m;

NWDC in buyout of Sargents

NatWest Development Capital (NWDC) has invested £4m in the management buy-out of Sargents Ltd., a relocation and storage company. The Royal Bank of Scotland (RBS) provided senior debt to fund the transaction.

Sargents was formed in 1989 and employs over 130 people. The funds will be invested in company infrastructure.

NWDC, part of RBS’ private equity group, targets the smaller end of the private equity market, focussing on transactions between £2m and £20m. It has invested £30m in 10 deals over the last 12 months. DHD Corporate Finance advised management, while Ernst & Young provided due diligence for the deal.

Lehman Brothers and Cazenove lead £9m third round for kVault

Lehman Brothers European Venture Capital and Cazenove Private Equity have led a third round of funding for kVault Software Plc (KVS), and raised £9m in A Preference shares.

Mosaic Private Equity and Greenap Consulting Ltd. completed the syndicate. £5m has already been committed. The second tranche of £4m is expected follow in June 2002.

KVS, who specialise in information management, work with blue-chip customers in The Netherlands and Belgium, as well as law firms and financial institutions across the UK and North America. They will use the funds to develop sales and marketing, and to finance working capital.

Demos raises E4.58m

Demos, a French professional training and e-learning company, has raised E4.58m ($4m). Initiative & Finance (E1.91m), Natexis Investissement (E1.91m) and BNP Paribas Developpement took part in the deal.

The company, which employs 200 people, will use the funds to develop its training courses, concentrating on e-learning, and for global acquisitions.