Madison Dearborn targets Towergate buy-in

Private equity house Madison Dearborn has issued a tender offer
for shares in UK broking group Towergate, effectively targeting the
roughly 25 percent of the business not currently owned by its three
cornerstone backers.
Subject to the acceptance of the tender offer, Madison Dearborn
has committed to participate in future capital raisings.
Sources have said that bringing in an additional private equity
partner would be one way to facilitate a further injection of
capital into Towergate, as its o