Austria

Austria's EK Mittelstandsfinanzierungs AG (EK Fin) has acquired a 15% stake in Transfer Industries Ltd., a holding company which owns the majority share of Global Hydro Energy GmbH. EK Fin cited the booming renewable energy market in Europe, as well as Global Hydro's recent growth, as reasons to add the company to its portfolio.

The European Bank for Reconstruction and Development has approved a €50 million investment for Mezzanine Management Central Europe Limited's new eastern European fund, Accession Mezzanine Capital III. The two have a well-established relationship having worked together on the earlier AMC I & II funds. The EBRD's commitment to the corporate sector in the CEE region has been demonstrated over the years through total investments in excess of €2.5 billion.

Vienna-based CRG Capital is joining forces with the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) to establish a new CEE fund to invest in distressed assets. The CEE Special Situations Fund has a target size of €200 million with the three initial investors providing a combined €36 million.

Almost a year after the final close of its first fund, European private equity firm Syntaxis Capital has announced the first close on its second fund, SMF II. At € 140 million, the close is more than half of the fund's target value of € 250 million. Anchoring the fund was the European Bank for Reconstruction and Development, who also anchored the previous fund. Others contributing to SMF II include the European Investment Fund, unnamed limited partners from Fund I, and a handful of new investors.

Austrian pharmaceutical company PDC Biotech GmbH (PDC) recently announced the close of Series A financing, topping the €4 million mark. Co-leading the round were France's Edmond de Rothschild Investment Partners and Germany's MIG Verwaltungs AG. Combined with earlier seed funding of €1 million and a grant of €517,000, PDC's total funding is now more than €5.56 million. The recent investments will be used to continue development of PDC's inaugural product which it hopes to have in Phase I testing by next year.

German private equity firm Deutsche Beteiligungs AG (DBAG) has divested itself from Austria's MCE Group through a sale of its stake to Bilfinger Berger AG. Upon approval of government regulators, Bilfinger Berger will pay € 350 million for MCE through a capital increase, exceeding Deutsche Beteiligungs' valuation of the company by as much as €15 million.

International private equity firm One Equity Partners (OEP) has reached an agreement to acquire a 66% stake in Constantia Packaging AG. The transaction will take place via OEP's holding, Sulipo Beteiligungsverwaltungs GmbH. As required by law, OEP will announce a public offer for the remaining shares of Constantia at €38.67 per share. The deal, which is subject to regulatory approval by the Austrian government, will be financed entirely with OEP's equity capital.

Capexit, a shareholder of phion AG, has announced an agreement to sell its stake in the IT security company to Barracuda Networks Inc. A public tender offer was made by Barracuda on August 22 and accepted in mid September. The deal has Barracuda purchasing all phion shares from Capexit, which would amount to roughly 8.21% of the company, if it is also able to acquire 75% of phion AG. The price of €16 per share, which was accepted by more than the needed 75% of shareholders, would put the total price tag of the acquisition at €1.05 million.

Private equity firm Buy-Out Central Europe has entered an agreement with Cross Industries AG to purchase the majority stake Cross holds in Unternehmens Invest AG (UIAG). The two Austrian companies agreed on the deal earlier in the month which should result in Buy-Out Central announcing a take over bid to UIG shareholders in the near future.

Equest Investments Balkans, Ltd. (EIB) and Uniqa International Beteiligungs-Verwaltungs GmbH (Uniqa International) have reached an agreement giving Uniqa International the remaining EIB shares of Uniqa Bulgaria. The deal, worth € 7.9 million, completes a working agreement the companies had put in place allowing Uniqa International to acquire Uniqa Bulgaria over the course of several years. EIB plans to use the cash to restructure some of its debts while developing its core businesses.