3i makes first continental buy-out this year

UK-listed private equity firm 3i's buy-out team finished off the first quarter with its first continental buy-out of the year with Wendt, a German manufacturer of super-abrasive precision grinding machines and tools.

The €86m ($111.4m) deal follows four acquisitions in the UK, including flower delivery company, Interflora, and culminating in a record-breaking year for the buy-out team in 2004.

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