IMAP Dealbook 2016 Contact
Sudhanshu Karandikar [email protected]
IMAP, Inc. Balmes, 114 5th floor 08008 Barcelona - Spain www.imap.com T: +34 936 026 710
© IMAP, Inc. 2016 IMAP Dealbook 2016 Contents
Foreword 06
IMAP Highlights 2015-2016 07
About IMAP 08
Deals by sectors: 10 12 24 34 40 48 Consumer Consumer Energy & Financials Healthcare Products Staples Power & Services
58 76 84 88 94 Industrials Materials Real Estate Retail TMT 06 Foreword
Today IMAP provides clients with access to seasoned sector experts from more than 40 leading investment banking teams around the world.
Jurgis V Oniunas IMAP Chairman
As we go to print with the third edition of the Our investment in greater seamless cross- Dealbook, IMAP continues to hold its position as border collaboration and leveraging sector one of the world’s leading global M&A advisories expertise has allowed us to unlock cross-border for the mid-market. After a bumper year in M&A opportunities for our clients through our 2015, M&A activity has slowed in early 2016 and relationships and reach. We are continually further deal activity is looking subdued for the working toward a broader service platform by latter part of the year, due in part to uncertainty giving our clients the possibility to leverage fueled by Brexit and U.S. elections in November. private sector and public market solutions.
Beneath the numbers, what makes IMAP unique Today IMAP provides clients with access to is as pertinent now as it was back in 1973: seasoned sector experts from more than 40 providing our clients with M&A opportunities on leading investment banking teams around the a global scale. IMAP continued to strengthen world. Going forward, the IMAP organization its international foothold in the last 12 months, will continue to strengthen by adapting to global welcoming new partners in strategic locations – changes and continually improving our service Poland, Colombia and India. IMAP is a dynamic to clients. The IMAP organization has truly never and evolving organization, which at its core been stronger. shares the same common values and principles, working together to forge lasting relationships with our clients and delivering differential value in all that we do. 07
IMAP Highlights 2015 - 2016:
Consistent with IMAP’s track record, cross-border deals comprised 32% of its yearly transactions.
One of IMAP’s largest public M&A deals in 2015 was closed by IMAP Chile who advised Empresas Públicas de Medellín E.S.P (EPM) in their acquisition of Aguas de Antofagasta S.A., a cross-border transaction valued at US$965m. IMAP Mexico assisted IMAP Chile when presenting this acquisition opportunity to EPM.
IMAP’s highest value public M&A transaction of the 2015 year was closed in Europe. IMAP Italy represented the buyer Advent International-Bain Capital-Clessidra when it acquired a controlling interest in ICBPI for €2.15bn.
In North America the number of deals in 2015 also rose with the keynote public deal in the region at an estimated US$380m closed by IMAP Boston, which advised TR Manufacturing on its acquisition by Corning.
IMAP ranked 9th in Europe by number of M&A deals under US$200 million in H1 2016 (Thomson Reuters).
The Japan External Trade Organization (JETRO) appointed IMAP Japan in December 2015 to run their inbound investment program. The initiative has both the governmental and operational support required to enable IMAP to bring foreign investors to Japan.
One key event that took place in 2015 was CPhi Worldwide 2015, where Dr. Christoph Bieri from IMAP Switzerland was invited to speak as the M&A expert.
IMAP Boston Founder and President John Ferrara, was named US M&A Dealmaker of the Year and the firm received a total of 8 awards, including being named the 2015 Boutique M&A Investment Bank of the Year at the M&A Atlas Awards. 08 About IMAP About IMAP IMAP HISTORY TIMELINE
Argentina Japan Belgium Mexico Bosnia and Morocco Herzegovina Netherlands Brazil Norway Canada Peru Chile Poland Colombia Russia Croatia Senegal Czech Republic Serbia Denmark Slovenia Egypt Spain Finland Sweden France Switzerland Germany Turkey Hungary United Arab India Emirates Ireland United Kingdom Italy United States Ivory Coast
Global Reach IMAP offers an exceptional combination of global breadth and local depth to the client transaction.IMAP is located in more than 35 countries throughout North and South America, Eastern and Western Europe, the Middle East, Africa and Asia. These firms share common values and principles, reinforced by rigorous standards and qualifications to ensure unmatched service, quality and unequaled results
1973 1993 1999 2005
Founding of IMAP by a Merger of two US-based Presence in UK, Merger of Central and group of US-based M&A M&A advisory organiza- France, Germany Eastern European Practitioners under the tions (INTERMAC and Spain and Italy. organizations (MACEE) into acronym NAMAC. IMAP) into one. IMAP. 09
global performance Deals by Sector 2013 - 2015 2013 - 2015
Consumer Products Undisclosed Values & Values TMT and Services up to $200 million 102 (Based on number of transactions) 95
Retail Rank Financial Advisor 16% 15% Consumer 28 Staples 1 PwC 5% 68 2 KPMG Real Estate 11% 4% 3 Ernst & Young LLP 21 Energy 4% & Power 4 Deloitte 8% 5 Rothschild 5% 26 Materials 6 BDO 9% 52 23% 7 IMAP Financials 8 Houlihan Lokey 29
9 M&A International Industrials Healthcare 10 Lazard 141 58
Source: Thomson Reuters
2008 2010 2014 2015 2016
Consolidation of IMAP adds more Presence in Peru, IMAP coverage IMAP adds new cross-border global locations. Norway and extends to Colombia, offices in India and collaboration. Brazil. Morocco, Senegal Spain. and Ivory Coast. Deals
Consumer Consumer Products Staples & Services Up to $500M Up to $500M
1 PwC 1 PwC 2 KPMG 2 KPMG 3 BDO 3 Rothschild 4 Ernst & Young 4 Deloitte 5 Deloitte 5 Houlihan Lokey 6 M&A International 6 IMAP 7 IMAP 7 Ernst & Young 8 Houlihan Lokey 8 Sumitomo Mitsui 9 Mizuho Financial Group 9 Mizuho Financial Group 10 Rothschild 10 BDO
Industrials Materials
Up to $500M Up to $500M
1 PwC 1 PwC 2 KPMG 2 Ernst & Young 3 Ernst & Young 3 KPMG 4 IMAP 4 BDO 5 Deloitte 5 Deloitte 6 BDO 6 Lincoln International 7 Rothschild 7 IMAP 8 Lincoln International 8 Rothschild 9 Mizuho Financial Group 9 Mizuho Financial Group 10 M&A International 10 Houlihan Lokey Energy & Financials Healthcare Power
Up to $100M Up to $200M Up to $200M
1 PwC 1 PwC 1 PwC 2 KPMG 2 KPMG 2 Houlihan Lokey 3 Ernst & Young 3 Ernst & Young 3 KPMG 4 Simmons & Co 4 Rothschild 4 Deloitte 5 RBC Capital Markets 5 Deloitte 5 BDO 6 Deloitte 6 Houlihan Lokey 6 The Braff Group 7 Evercore Partners 7 Lazard 7 Rothschild *** 8 IMAP 8 IMAP 19 IMAP 9 BDO 9 Ernst & Young 20 Sumitomo Mitsui 10 Goldman Sachs 10 Jefferies 21 Raymond James
Real Estate Retail TMT
Up to $100M Up to $200M Up to $200M
1 PwC 1 KPMG 1 PwC 2 KPMG 2 PwC 2 KPMG 3 Ernst & Young 3 Sumitomo Mitsui 3 Ernst & Young 4 Duff & Phelps 4 Mizuho Financial Group 4 Deloitte 5 Industrial & Comm Bank China 5 M&A International 5 BDO 6 Jones Lang LaSalle Inc 6 Rothschild 6 IMAP 7 CBRE Holding SAS 7 Deloitte 7 M&A International *** 8 Nomura 8 Houlihan Lokey 21 IMAP 9 BDO 9 Sumitomo Mitsui 22 Nomura 10 IMAP 10 Mizuho Financial Group 23 DC Advisory
Consumer Products & Services
Up to $500M Source: Thomson Reuters 1 PwC 2 KPMG 3 BDO 4 Ernst & Young 5 Deloitte 6 M&A International 7 IMAP 8 Houlihan Lokey 9 Mizuho Financial Group 10 Rothschild 14 15 Consumer Products & Services
EDUCATIONAL SERVICES
L-BILG L-BILG Grupo ACP Südwestbank AG SPV SPV Nonprofit organization Bank Czech Republic Czech Republic that reinvests 100% Germany of its profits to create Acquired 100% of the Acquired 100% of the social inclusion Provided Acquisition Company Company Peru Funding
Vysoka skola Prvni soukroma Provided Capital Expansion Travel Adventures hotelova (The hotelova skola Funding GmbH Institute of Private High School Provider of language Hospitality Czech Republic Futura Schools schools / trainings and Management) Futura Schools is a hotel private school chain Private University Advised on Purchase of Germany Peru Czech Republic Company Advised on the Placement Advised on the Placement Advised on Purchase of of Debt Advised L-BILG on the of Equity Company acquisition of the entire share capital of Prvni Advised Travel Adventures Advised Grupo ACP, a Advised L-BILG on the soukroma hotelova GmbH, a provider of nonprofit organization that acquisition of the entire skola spol sro, a Praha- language schools and reinvests 100% of its profits share capital of Vysoka based college operator. training, on the placement to create social inclusion, Skola hotelova, a Praha- Concurrently, L-BILG of debt in a transaction with on the placement of equity based college operator. acquired Vysoka Skola Südwestbank AG. in a transaction with Futura Concurrently, L-BILG hotelova. Schools, a private school acquired Prvni soukroma chain. hotelova skola. 14 15 Consumer Products & Services
emploYment SERVICES Home Furnishings
Main Street 1C Company Private Investor Premium Equity Capital Developer and Private investor Partners GmbH Corporation distributor of mass Belgium Private equity company Private equity group market software Germany United States Russia Acquired Selected Assets of Seller Business Acquired 100% of Business Minority Recapitalization Acquired Subsidairy of the Operations Operations Target Company HW Staffing Buytaert A. BVBA WEKA Group Solutions UCMS Group Bathroom installation Production and Temp & perm staffing Payroll, HR and and renovation distribution of garden services Accounting Belgium houses United States Russia Germany Advised on Sale of Advised on Sale of Advised on Sale of Russian Company Advised on Sale of Company Subsidiary Company Advised Buytaert A. BVBA, Advised HW Staffing Advised UCMS Group, a a plumbing, heating and Advised Weka on its sale Solutions in its payroll, HR and accounting air-conditioning contractor to a German private equity recapitalization by Main firm, in its sale of a located in Belgium, on its firm. Weka is the German Street Capital Corporation. subsidiary to 1C Company, sale to an undisclosed market leader in design and Main Street’s growth equity a Moscow-based developer buyer. development, production investment will fund future and distributor of mass and distribution of ready-to- acquisitions and expansion market software. mount wooden construction into new geographies. kits in the premium house and garden segment. The management team of WEKA remains invested and will continue to execute the successful development of the company. 16 17 Consumer Products & Services
Home Furnishings Other Consumer Products
Lagercrantz Group Bunzl plc. Ferritico Peru Champlain Capital AB Multinational (subsidiary of Partners Swedish listed distribution and Acero Comercial Small and middle- technology group outsourcing company Ecuatoriano) market private equity Sweden United Kingdom Distributor of industrial fund machinery United States Acquired 100% of the Acquired 100% of Business Ecuador Shares Operations Acquired 100% of Business Acquired 100% of the Operations Kondator AB Espomega Company Developer & marketer Distributor of personal Master Cutlery, of accessories for office protective equipment Sullair del Pacifico Inc. workplaces Mexico Distributor of Sullair Manufacturer of knives, Sweden brand air compressors swords and defense Advised on Sale of Peru products Advised on Sale of Company United States Company Advised on Sale of Advised Espomega, a Company Advised on Sale of Company Advised Kondator AB on its leading redistribution sale to Lagercrantz Group business supplying a variety Advised Sullair del Pacifico, AB. Kondator develops and of safety products, including a distributor of Sullair brand Advised Master Cutlery, a markets accessories for gloves and protective air compressors based in prominent designer and offices and workplaces. clothing, throughout Mexico, Peru, on its sale to Ferritico manufacturer of crossbows, The majority of sales are on its sale to Bunzl. The Peru, a subsidiary of Acero hunting knives, military & generated in Sweden, but acquisition expands Bunzl’s Comercial Ecuatoriano tactical gear and self- Kondator’s exports are safety business in Mexico. based in Ecuador that defense products on its increasing to the Nordic distributes industrial acquisition by Champlain region and to the rest of machinery. Capital, a private equity Northern Europe. firm focused on small and middle market, niche businesses in manufacturing, consumer products, distribution and non-financial services. 16 17 Consumer Products & Services
SCOTT Sports SA Musti ja Mirri GT Wire AB Airopack Manufacturer of bike Group Oy Supplier of low-carbon Dispensive packaging and sporting articles Pet accessory webshop steel wire Netherlands Switzerland Finland Sweden Acquired Selected Acquired 100% of Business Acquired 100% of Business Acquired 100% of the Assets of Seller Business Operations Operations Shares Operations
Bergamont Peten Koiratarvike AbsoDry Proficos Fahrrad Vertrieb Oy Manufacturer of Co-packer of cosmetic GmbH including Pet accessory webshop dehumidifiers products their Swiss assets Finland Sweden Belgium Full range provider of branded bikes Advised on Sale of Advised on Sale of Advised on Purchase of Germany Company Company Company
Advised on Sale of Advised on the sale of Advised Proficos on Company Advised Peten Koiratarvike Oy, a pet accessory AbsoDry to GT Wire. selling its majority part of webshop, on the sale of the AbsoDry offers a full the activities to Airopack Advised BMC Group on the sale company to Musti ja Mirri range of dehumidification through its subsidiary, of its AG Bergamont GmbH Group Oy. products for consumers’ Airosolutions. Proficos subsidiary to Scott Sports homes, holiday homes, is a full-service contract SA, including its international caravans and boats. The manufacturer of cosmetic activities. BMC Group is owners realized that the products, based in Belgium. specialized in racing-, mountain- company would benefit Proficos will continue to and lifestyle bikes, just as from being part of a larger work with multiple globally Scott Sports SA is a producer organization in order to leading personal care brand of sports goods, with a focus reach their full potential owners, such as Beiersdorf, on the business units bicycle, during the next couple of Laboratoires Urgo, Omega winter sports, motor sports years. Pharma, Lornamead, Evonik, and running. The successful Reckitt & Benckiser. brand Bergamont is ideally complementing this segment in particular in Germany, Austria and Switzerland. 18 19 Consumer Products & Services
Other Consumer Products
White Bridge Champlain Capital Undisclosed Buyer Prime Rate Kft. Investments Partners Leading Hungarian Digital printing Private equity fund Private equity postal services Hungary Italy United States Hungary Acquired the Client Acquired Majority Control Acquired 100% of Business Acquired 100% of Business Portfolio of Business Operations Operations Operations Milpress Kft. Campus Stewart Milpress Kft. Mail related printing Innovative functional MacDonald Co. Mail related printing services foods ingredients Global e-tailer of luthier services Hungary market tools and guitar parts Hungary Italy United States Advised on Purchase of the Advised on Sale of Company’s Client Portfolio Advised on Purchase of Advised on Sale of Company Company Company Advised Milpress on the Advised Milpress, a sale of its client portfolio to Advised White Bridge Advised Stewart MacDonald professional complex mailer Prime Rate Kft. Prime Rate Investments SpA in the Co. on its sale to Champlain service provider on behalf offers full range printing acquisition of a majority Capital Partners. Stewart of partners that work with services in Hungary and interest in Campus S.r.l., MacDonald is the world’s high-volume, regular email other countries in the region. one of the fastest growing largest e-tailer of specialty sendings in large quantities Prime Rate’s acquisition global innovative functional tools and represents a new and invoice generators. strengthens its presence food ingredients companies. platform investment for Milpress Kft came to a within a niche printing sub- The deal has been financed Champlain, which plans strategic agreement with segment and increases its by Banca Popolare di to leverage the marketing Magyar Posta Zrt as well existing complex printing Milano (arranger) and and operational expertise as the EPDB Nyomtatási services through cross- Cariparma Crédit Agricole. of its principals to expand Központ Zrt, and partially selling. The new shareholder will Stewart-MacDonald’s iconic sold its assets. foster Campus’ growth in brands. international markets and enhance the organizational and commercial structure. 18 19 Consumer Products & Services
PROFESSIONAL SERVICES
Bygghemma BISNODE Technicis IMP Group Finland Holding EU leading credit, Translation International Inc. AB market & business info A language service Aerospace, defence and Online building and provider provider other businesses hardware store Czech Republic France Canada Sweden Acquired 100% Shares of Acquired 100% of Business Acquired 100% of Business Acquired 100% of Shares Newly Spun-off Enterprise Operations Operations
M & M Visions Oy IS OCTOPUS, s.r.o. Cogen SA Blue Ocean Online building and CZ leading credit info Language service Contact Centers hardware store assessment system provider High-tech business Finland Czech Republic Belgium process outsourcing Canada Advised on Sale of Spin Off & Sale of the New Advised on Sale of Company Entity Company Advised on Sale of Company Advised the shareholders Advised IS Octopus, a Advised Cogen SA, a of M&M Visions Oy, the leading credit information Belgian translation company Advised Blue Ocean Contact company operating assessment system specialized in providing Centers on its sale to IMP Talotarvike.com, in the company on its sale of their translation and multilingual Group International Inc. Blue sale of the shares in the newly spun off enterprise to publishing services to the Ocean provides customer company to Bygghemma Bisnode, a EU leading credit manufacturing and medical service solutions for world- AB. and business information industries on its sale to class companies who are provider. Technicis Translation. leaders in technology, travel, Technicis is the largest retail, grocery, wellness, professional translation tourism and automotive company in France and industries. The transaction among the five largest in will enhance the customer Europe. contact center segment of IMP’s Information Services Division. 20 21 Consumer Products & Services
PROFESSIONAL SERVICES
Lynx Equity Mid Europa Sevket Basev Foresight Group Limited Partners LLP Turkey based private Private equity firm Private equity Leading PE fund investor United Kingdom United States focused on growth Turkey markets Acquired a Significant Acquired 100% of Business United Kingdom Acquired Investment Minority Interest Operations Interest in Seller’s Business Acquired 100% of Business Government Intermountain Operations Multinet Grants and Tax Total Facility Voucher card & Consultants Ltd Services Customer payment solutions for R&D tax credit Total facility services Management corporations consulting United States Center Turkey United Kingdom Largest Turkish Advised on Sale of independent call center Advised on Purchase of Initiated the Transaction Company operator Company and Advised the Vendors Turkey
Advised Intermountain Total Advised Sevket Basev, Advised the shareholders Advised on Sale of a Turkish-based private Facility Services, which is Company of Government Grants one of the largest facility investor, to acquire an and Tax Consultants Ltd maintenance companies investment interest in the (“GGTC”) in arranging in its region on its sale to Advised ISS, a global leading seller’s business, Multinet, a significant minority Lynx Equity Limited. This facility services provider, a company that provides investment in GGTC and its acquisition brings Lynx’s on the sale of its call centre voucher card & payment wider Group from private portfolio to forty-two activities in Turkey to Mid solutions for corporations. equity investors, Foresight companies. Europa Partners, a leading Group (“Foresight”). GGTC buyout investor focused provides research and on the growth markets of development tax credit Central and Eastern Europe support to UK-based SMEs. and Turkey. This divestment The investment will support is part of the execution of the growth of the business ISS’s global strategy and and aid the development alignment of its business of other companies in the platform. Group. 20 21 Consumer Products & Services
50% owner of LEG TMF Group B.V. ABN AMRO Bank Zrt. Financial, legal and HR N.V. Multilingual document admin services Bank management services Netherlands Netherlands Hungary Acquired 100% of Business Provided Term Loan Facility Acquired 25% of Business Operations Operations The Human UCMS Group Network Holding LEG Zrt. EMEA Ltd. B.V. Translation and HR, payroll and Multi-disciplinary interpretation services accounting services in professional services Hungary CEE firms Cyprus Netherlands Advised on Purchase of 25% shares of the Company Advised on Sale of Advised on Restructuring Company Financial Obligations Advised the majority owner of LEG Zrt. of buying a Advised on the sale of Advised The Human 25% stake from the other UCMS Group to TMF Group Network Holding B.V., Company owner. LEG Zrt. in an upfront, cash financed a multi-disciplinary provides a quality service deal. professional services firm, in all areas of multilingual on restructuring financial document management. obligations in a transaction with ABN AMRO Bank. 22 23 Consumer Products & Services
TRAVEL SERVICES
Marmedsa Interamerican Travel Adventures Shipping and logistics Investment GmbH company Corporation Provider of study Spain Multilateral language travels / organization schools Acquired Majority Control United States Germany Of Business Operations Provided Growth Funding Acquired 100% of Business Komet Turizm ve Operations Denizcilik Mountain Lodges International forwarding of Peru iSt Internationale company Provides travel Sprach- und Turkey experiences and Studienreisen manages hotels GmbH Advised on Sale of Peru Provider of study Company language travels Advised on the Placement Germany Advised Komet Turizm of Debt and Restructuring ve Denizcilik a leading of Financial Obligations Advised on sale of Turkey-based international Company forwarding company on Advised Mountain Lodges its sale to Marmedsa, of Peru on the placement Advised iSt Internationale the leading shipping and of debt and restructuring Sprach- und Studienreisen logistics company on the of financial obligations GmbH, a Heidelberg-based Iberian Peninsula. in a transaction with language school operator, Interamerican Investment on the sale of the company Corporation. to Travel Adventures GmbH. 22 23 Consumer Products & Services
Consumer Staples
Up to $500M Source: Thomson Reuters 1 PwC 2 KPMG 3 Rothschild 4 Deloitte 5 Houlihan Lokey 6 IMAP 7 Ernst & Young 8 Sumitomo Mitsui 9 Mizuho Financial Group 10 BDO 26 27 Consumer Staples
Agriculture and Livestock
Seaboard AGRODRUZSTVO AGRODRUZSTVO Danube SCA Sicar Corporation BLÍZKOVICE, BLÍZKOVICE, Private equity firm Global agribusiness and druzstvo druzstvo Luxembourg transportation company Agricultural company Agricultural company United States Czech Republic Czech Republic Acquired 100% of Business Operations Acquired Minority Control Acquired 100% of Business Acquired 100% of Business of Business Operations Operations Operations Pek-Snack Kft. Bakery franchise Zalagh Holding AGROOS, S V P spol. s.r.o. Hungary Integrated player in spol. s.r.o. Agricultural company the Moroccan poultry Agricultural company farming on 400 hectares Advised on Sale of industry farming on 1,200 Czech Republic Company Morocco hectares Advised on Sale of Czech Republic Advised Pek-Snack Group, Advised on Sale of Company Company (Minority Stake) a Hungary based company Advised on Sale of with a Croatian subsidiary Company Advised S V P spol sro, on on its sale to the private Advised Zalagh Holding its sale to Agrodruzstvo equity fund - Danube on its minority share sales Advised Agroos spol sro, a Blizkovice Druzstvo, a Sicar. The Group – with a to Seaboard Corporation. Jaromerice Nad Rokytnou- Jaromerice Nad Rokytnou- turnover of €11.6 million Zalagh is one of Morocco’s based farm supplies based farm supplies – is one of the most leading turkey and merchant wholesaler, on merchant wholesaler. advanced players in the chicken producers and its sale to Agrodruzstvo Concurrently, Agrodruzstvo business of manufacturing processers. Zalagh also Blizkovice Druzstvo, an Blizkovice Druzstvo frozen bakery products. It owns substantial feed agricultural company. acquired Agroos spol sro, a develops and sells nearly manufacturing assets Jaromerice Nad Rokytnou- 80 commercial and private and a controlling interest based farm supplies label products. in Graderco, a grain merchant wholesaler. importing company that is an important customer of Seaboard Overseas. 26 27 Consumer Staples
Food and Beverage
PrimaMundo Fuji Oleos Sentica Partners Swicorp Group America do Sul, Oy Private equity firm Distributor of daily Importacao, Investment company focusing on the MENA fresh fruits and Servicos e Finland region vegetables Comercio Tunisia Belgium de Produtos Acquired 100% of Business Acquired Minority Control Alimenticios Ltda. Operations Acquired 100% of Business of Business Operations Operates as a Operations subsidiary of Fuji Oil People’s Choice Venezia Ice Co., Ltd. AB Alva Verse Manufacture & Brazil Distributor of the Vruchten nv Celsius beverage distribution of ice cream & pastries Distributor of daily Acquired Majority Control Sweden Morocco fresh fruits and of Business Operations vegetables Advised on Sale of Belgium Company Advised on Sale of Harald Indústria Company (Minority Stake) e Comércio De Advised on Sale of Company Alimentos Ltda. Advised People’s Choice Chocolate manufacturer AB on its sale to Sentica Represented Venezia Brazil Partners Oy through Ice, a Moroccan-based Advised the shareholders Sentica’s portfolio company manufacturer & distributor of ALVA Verse Vruchten, an Advised on Purchase of Func Food. People’s Choice of ice cream & pastries, on importer and distributor of Company is the exclusive distributor of the acquisition of minority fresh fruit and vegetables, popular Celsius functional control of the business in the sale of their business beverage in Sweden. The operations by a private Advised Fuji Oleos America to PrimaMundo Group. Group targets combined equity firm. do Sul, Importacao, Servicos PrimaMundo is active in the sales of €50 million in 2015. e Comercio de Produtos same market achieving a The acquisition is partly Alimenticios Ltda., on its turnover of €150 million. financed by a Nordic high purchase of the chocolate yield bond. manufacturer Harald Indústria e Comércio De Alimentos Ltda. 28 29 Consumer Staples
Food and Beverage
Callan Bacon Schietse nv Private Investor Gradiente Limited Distributor of cheese Private investor Private equity fund Leading producer and meat Belgium Italy of bacon and pork Belgium products Acquired 100% of Business Acquired 100% of Business Ireland Acquired Selected Assets Operations Operations of Seller’s Business Acquired 100% of Business Operations Les Moulins de Buona Compagnia Operations Statte Gourmet Kaasimport Floor mill Italian company active Stirchley Bacon Temmerman Belgium in the fresh-food Limited Distributor of cheese industry Leading producer Belgium Advised on Sale of Italy of bacon and pork Company products Advised on Sale of Advised on Sale of United Kingdom Company Company Advised Moulins de Statte Advised on Purchase of SA, a Huy-based flour mill Company Advised Kaasimport operator, on the divesture Advised Assietta Private Temmerman, a dairy of the company to an Equity Sgr S.p.A. in the product wholesaler on its undisclosed acquiror. divestment of 100% stake in Advised Callan Bacon sale to Schietse NV, a line Buona Compagnia Gourmet Limited (mother company grocery wholesaler. S.r.l., a leading Italian is M&M Walshe Holdings company active in the Ltd, a family-owned production of fresh potato and managed group) gnocchi, spätzle, ready- on purchasing the to-eat sauces and other Worcestershire-based products of the Ligurian Stirchley Bacon. The group tradition. is the largest producer of retail bacon in Ireland, with substantial sales in the UK. This transacton is another step in the company’s strategic growth in new European markets. 28 29 Consumer Staples
Ardian France S.A. Biscuits Bouvard Clessidra Monviso Private equity fund French biscuits Private equity fund Gourmet and healthy/ France producer and marketing Italy functional bakery France products Acquired 100% of Business Acquired Majority Control Italy Operations Acquired 100% of Business of Business Operations Operations Acquired 100% of Business Irca Acetum Operations B2B sweet and salty Euro Cakes S.p.A. Leader in the products manufacturer Sponge-based cakes production of “Aceto Biscotteria Tonon Italy manufacturer Balsamico” Italian producer of Italy Italy biscuits and crackers Advised on Purchase of Italy Company Advised on Purchase of Advised on Purchase of Company Company Advised on Purchase of Company Advised the private equity fund Ardian in the Advised the French group Advised Clessidra in the acquisition of a majority Biscuits Bouvard in the acquisition of a majority Advised Monviso S.p.A., a stake in Irca, one of the acquisition of 70% stake in interest in Acetum S.r.l., company fully owned by the leading one-stop-shop for Eurocakes S.p.A., a leading global leader in the private equity fund PM & bakeries, pastry shops, Italian company active in production of Balsamic Partners, in the acquisition industrial clients and Ho.Re. the production of sponge- Vinegar of Modena. of Biscotteria Tonon, Italian Ca. The transaction marks based snacks. Altogether Clessidra typically invests company with an almost the fifth Italian investment Biscuits Bouvard and Euro between €30 million and century-old tradition in which Ardian has made Cakes employ around 1,250 €150 million in its portfolio the production of biscuits, through its Mid-Cap funds. staff and achieve annual companies. pastry and crackers. The sales of about €260 million. acquisition allows Monviso Through the acquisition, to widen its product Biscuits Bouvard will now portfolio and to create an earn 32% of its turnover Italian based group active outside France. in the premium bakery segment. 30 31 Consumer Staples
Food and Beverage
Charlier-Brabo Lucano 1894 Aceites Borges Diana Holding Group N.V. Production of the Pont, S.A.U. Moroccan industrial Distribution of food and famous “Amaro (subsidiary holding company non-food products Lucano” brand of Borges Morocco Belgium Italy International Group, S.L.U.) Acquired a Majority Stake Acquired 100% of Business in the Company Acquired 100% of Business Healthy and wholesome Operations Operations food company Societe Atlantic Spain Elvea “Limoncetta Sardine Anchovies Tomato sauce producer di Sorrento” Acquired Majority Control Tantan («ASAT») Italy trademark Of Business Operations Producer & exporter Production of the of canned sardines & Advised on Sale of famous “Limoncetta di Ortalli SpA. mackerels Company Sorrento” Production of vinegar- Morocco Italy based products Italy Advised on Sale of a Advised the shareholders Advised on Sale of Majority Stake in the of Elvea S.p.A., active in the Company Company tomato sauce segment, Advised on Sale of with a leadership position Company with the brand Elvea in Advised Campari Group Advised Societe Atlantic Benelux, in the disposal for the sale of Limoncetta Advised the shareholders Sardine Anchovies Tantan, of 100% of Charlier-Brabo di Sorrento brand and of Ortalli S.p.A., Italian a subsidiary of El Jabri, on Group N.V. related assets to Lucano family business engaged its sale to Diana Holding. 1894 S.r.l. the owner of the in the production of The group up till now was Amaro Lucano brand. The Ortalli branded premium investing in sectors such business sold consists of IGP Balsamic Vinegar of as agriculture, husbandry the Limoncetta di Sorrento Modena, DOP Traditional or soft drinks. Diana trademark, a lemon based Vinegar of Modena and Holding will invest in the liqueur brand, and 100% vinegar-based condiments, construction of a sardine- of the share capital of for the sale of a majority mackerel manufacturing Alimenta S.r.l., owner of the stake in the company to the unit in Agadir. Output from plant for the production of Spanish group Borges. this plant will be exported the concentrate. mostly to Europe and USA. 30 31 Consumer Staples
Household and Personal Products
Undisclosed Buyer Private Investor Sodalis Group Swiss consumer goods Private investor Italian leader in the company Belgium home & personal care Switzerland market Acquired 100% of Business Italy Acquired the SIPURO brand Operations Acquired Majority Control SIPURO brand of Velmar bvba of Business Operations Reckitt Benckiser Exploitation of 2 (Switzerland) AG clothing brands Novamex S.A. Multinational consumer Belgium Ecological cleaning goods company and body hygiene Switzerland Advised on Sale of products Company France Advised on Sale of SIPURO brand Advised on Purchase of Advised Velmar bvba on the Company sale of its operations to a Advised the SIPURO private investor. brand of Reckitt Benckiser Advised Sodalis Group in (Switzerland) AG, of its the acquisition of a 100% sale of the brand to an stake in Inventia S.A.S., undisclosed buyer. holding of Novamex S.A., a French company leading in the production and marketing of home and personal care ecofriendly products under the brand “L’Arbre Vert”. 32 33 Consumer Staples
Other Consumer Staples
Hokuetsu Kishu Blumen Aditya Birla Paper Co Ltd Horticulture seeds, and Private Equity Paper manufacturer other garden products Private equity fund Japan Italy India
Acquired Alpac pulp mill Acquired Selected Provided Growth Funding Assets of Seller Business Alpac Forest Operations Creative Lifestyle Products Inc Pvt. Ltd. Pulp manufacturer Fito, DueCi, Get Branded apparel Canada Off company Garden care & pet care India Represented the Seller brands United Kingdom Advised on Placement of Equity Advised Alpac Forest Represented the Buyer Products Inc., on its sale to Hokuetsu Kishu Paper Advised Creative Lifestyle Co Ltd. The purchase Advised Blumen Group, Pvt. Ltd., the owner of includes Alberta-Pacific Italian company majority- women’s apparel brands Forest Industries (Alpac) owned by the PE fund IGI 109F, Fusion Beats, and pulp and woodlands SGR, in the acquisition O2xygen, on the placement operations based in Boyle, of the brands Fito, DueCi of equity by Aditya Birla Alberta together with Alpac and Get Off, owned by the Private Equity, a Mumbai- Pulp Sales Inc. located in German group Henkel. Fito based private equity fund. Vancouver, British Columbia. and DueCi are leaders in the Alpac operates the newest Italian garden care market, pulp mill in North America Get Off is leader in the UK producing 650,000 tonnes pet care market. of hardwood and softwood pulp annually from its 6.5 million hectare forest management area. 32 33 Consumer Staples
Energy & Power
Up to $100M Source: Thomson Reuters 1 PwC 2 KPMG 3 Ernst & Young 4 Simmons & Co 5 RBC Capital Markets 6 Deloitte 7 Evercore Partners *** 19 IMAP 20 Sumitomo Mitsui 21 Raymond James 36 37 Energy & Power
Alternative Energy Sources oil and gas POWER
Antofagasta Brookfield London Oil & Gas Undisclosed Minerals S.A. Renewable Energy Ltd. Buyers Copper mining group Partners (BREP) Investor in oil and gas Investment vehicles Chile Renewable power producing assets Panama platform with more United Kingdom Acquired 40% Interest in than 10 KMW Acquired Majority Control Seller’s Project Canada Provided Acquisition Of Business Operations Funding Alto Maipo SpA. Acquired Majority Control Pacific Power 531MW hydro power Of Business Operations Independent Oil Generation project and Gas plc Development/operation Chile ISAGEN S.A. E.S.P Oil and gas exploration of thermoelectric power Third largest energy company plant Advised on Purchase of generating company in United Kingdom Panama Company Colombia Colombia Advised on the Placement Advised on Sale of of Debt Company Advised Antofagasta Advised on Sale of Minerals in its acquisition of Company a 40% stake in Alto Maipo Advised London Oil & Gas Advised Pacific Power SpA, a 531 MW hydro power Ltd on its £10m secured Generation, operator of project being developed by Represented Ministerio de convertible loan facility a thermoelectric power AES Gener in the central Hacienda y Crédito Público with Independent Oil and plant and provider of power part of Chile. de Colombia in its sale Gas plc. London Oil and solutions to industrial and to Brookfield Renewable Gas has a clear strategy commercial sectors on its Energy Partners (BREP) of to acquire oil and gas sale to private investors. 57.6% of the outstanding producing assets in Europe, common shares of North America, the Caspian Isagen S.A. from the region and West Africa and Colombian government. is backed by a major global The transaction aligns with oil company and investment Brookfield´s objective of banks. building its global renewable energy business with high quality, predominantly hydro assets. 36 37 Energy & Power
POWER
Sierra Gorda SCM BW Rogers Co. BHP Billiton Fina Enerji Holding A new copper mine in Value-added distributor Mining group A.S. Chile of fluid power products Australia Developer and Chile United States constructor of energy Secured long-term power projects To contract power supply Acquired 100% of Business based on the construction Turkey for 251 MW for 20 yrs. & the Operations of a new combined cycle development of a new 500 power plant Acquired Majority Control MW power plant K-D Fluid Power of Business Operations Corp Kelar S.A. Empresa Eléctrica Value-added distributor Power generator Polyak Enerji Cochrane S.A. of fluid power products Chile Üretim Madencilik Power generator United States San. Tic. A.S. Chile Financial Advice on Company engaged Advised on Purchase of Bidding Process in coal based energy Advised on a bidding Company generation process to Purchase Turkey long-term power supply Acted as financial advisor Advised B.W. Rogers, a 20- to BHP Billiton on the & Development of a new Advised on Purchase of year client, on its acquisition bidding process to secure power plant Company of K-D Fluid Power. Both long-term power based are established distributors on the construction and Advised Sierra Gorda on of Parker Hannifin operation of Kelar (517 Acted as the exclusive the tendering of a 20-year (NYSE: PH) hydraulic and MW) combined cycle power financial and strategic power purchase agreement pneumatic products. IMAP’s plant. advisor to Fina Enerji (PPA) for its Sierra Gorda relationship with PH has Holding in its acquisition of greenfield mining project, been influential in launching a 70% stake in Polyak Enerji including construction of a the consolidation trend of Üretim Madencilik San. Tic. new coal-fired power plant. its distributorships. A.S., a company engaged in Empresa Eléctrica Cochrane energy generation. S.A. (subsidiary of AES Gener S.A.) will supply in total 251 MW. 38 39 Energy & Power
POWER Water and Waste Management
BluEarth Number of Veitransport A.S. Pure Technologies Renewables Institutional Transportation services Develops technologies Focused on commercial Investors Norway for water pipelines scale renewable energy Institutional investors Canada development United Kingdom Acquired 100% of Business Canada Operations Acquired 100% of Business Acquired One Fifty One plc Infrastructure Acquired 100% of Business Shareholding in Augean plc Mathisen Operations Renovasjon AS Wachs Water Augean plc A national sanitation Services Tyson Creek Specialist waste company Water flow control Power Corp management company Norway maintenance & support Operates a United Kingdom United States hydroelectric power Advised on Purchase of generation facility Advised on Sale of Shares Company Advised Company on Sale Canada in Subsidiary
Advised on Sale MECE Invest AS, which Advised Wachs Valve and Advised One Fifty One owns the transport Hydrant Services, LLC plc on the disposal of companies Veitransport (“Wachs Water Services”) Advised Tyson Creek Power its stake in Augean plc, AS and Veikran AS, has on its acquisition by Pure Corp, a hydroelectric a UK hazardous waste acquired 100% of the shares Technologies Ltd. Wachs power facility on its sale to management company in Mathisen Renovasjon AS. Water Services is a leading BluEarth Renewables. Tyson listed on the Alternative The acquisition strengthens provider of flow control has a peak capacity of 9.3 Investment Market. The sale the Veitransport Group’s maintenance and support, megawatts, and a long- represented an important position within refuse leak detection and related term Electricity Purchase step One Fifty One’s strategy collection and waste asset management services Agreement with BC Hydro to divest of non-core assets management. to the water sector in the for its energy production, and focus on its plastics United States. extending to 2049. As an and environmental service independent renewable business in Ireland, the UK power producer, BluEarth’s and China. goal is to build, own and operate wind, run-of-river hydroelectric and solar generation projects across North America. 38 39 Energy & Power
Empresas Públicas de Medellín E.S.P. Multi-utility provider of regulated services Colombia
Acquired 100% of Business Operations
Aguas de Antofagasta S.A. Water company serving Antofagasta Region, Chile Chile
Advised on Purchase of Company
Advised Empresas Publicas de Medellin, a multi-utility provider of regulated services, on its cross- border acquisition of the water company Aguas de Antofagasta, based in Chile.
Financials
Up to $200M Source: Thomson Reuters 1 PwC 2 KPMG 3 Ernst & Young 4 Rothschild 5 Deloitte 6 Houlihan Lokey 7 Lazard 8 IMAP 9 BDO 10 Goldman Sachs 42 Financials
BANKS Brokerage
Private Investors Rakuten Securities Rakuten Securities 3i Debt Private investors Online brokerage firm Online brokerage firm Management Colombia Japan Japan Limited A leading debt Provided Additional Acquired 100% of Business Acquired 100% of Business management business Working Capital Operations Operations United Kingdom
Credivalores FXCM Japan FXCM Asia Limited Acquired €2 billion CLO Crediservicios Securities Online retail FX Management Contracts S.A.S. Online retail FX brokerage firm from Invesco Non-regulated financial brokerage firm China entity Japan 7 European CLOs Colombia Advised on Sale of from Invesco Advised on Sale of Subsidiary Investment Advised on Securing Subsidiary management corporation Capital Advised FXCM Asia Limited, United Kingdom Advised FXCM, the leading an online retail FX brokerage US-based global provider firm, on its acquisition of Advised Credivalores Advised on the Acquisition of online foreign exchange Rakuten Securities, a Tokyo- Crediservicios S.A.S. in a of 2 billion CLO trading and related services, based online brokerage firm. transaction with private management contracts in the sale of 100% of its investors on providing from Invesco additional working capital. shares of FXCM Japan Securities to Rakuten Securities, a leading online Advised 3i Debt securities firm in Japan, for Management on the US$ 62 million. acquisition of seven European Collateralised Loan Obligation (‘CLO’) management contracts from Invesco. The transaction builds on the company’s strategy to grow its business and take advantage of attractive opportunities, in Europe and North America. 43
Diversified Credit Institutions Financials Insurance
Sterling Institutional Capital Bank Intergea Group Bancorp (NYSE: Investors Lender Holding of Nobis STL), through Mutual funds and United States Compagnia di its principal others Assicurazioni subsidiary Sterling India Provided Acquisition Italy National Bank Financing Acquired Majority Control Offers banking products Provided Growth Funding of Business Operations and services Integrity Funding Consumer finance United States Diwan Housing Finance Limited United States Filo diretto Acquired 100% of Business Housing finance Assicurazioni SpA Operations company Advised on Placement of Non-life insurance India Debt company Damian Services Italy Corporation Advised on Placement of Advised Integrity Funding on Advised on Sale of Provider of payroll Equity the placement of debt. Company funding and services United States Advised Diwan Housing Finance Limited (“DHFL”) on Advised the Filo diretto Advised on Sale of the placement of equity with Group in the sale of a Company Institutional Investors, a majority stake in Filo diretto Mumbai-based mutual fund. Assicurazioni, non-life insurance company and Advised Damian Services leading provider in Italy of Corporation, a payroll assistance services and funding and services insurance policies for Car, provider, on its sale to Travel and Tourism, Health Sterling Bancorp (NYSE: and House and Family to STL), through its principal Intergea Group. subsidiary Sterling National Bank. 44 Financials
OTHER Financials
Groupe Chèque CDHI Brasil CDHI Brasil Up Groupe Invest Déjeuner Participações Participações Participações No. 3 global provider Ltda. Ltda. Ltda. of voucher and prepaid Subsidiary of Up Group Subsidiary of Up Group Subsidiary of Up Group cards Brazil Brazil Brazil France Acquired 100% of Business Acquired 100% of Business Acquired Majority Control Acquired 100% of Business Operations Operations of Business Operations Operations Planvale Empório Card Policard Sí Vale Issuance of benefit Ltda. Issuance of benefit (Prestaciones cards and vouchers Issuance of benefit cards and vouchers Universales) Brazil cards and vouchers Brazil No. 1 Mexican provider Brazil of voucher and prepaid Advised on Purchase of Advised on Purchase of cards Company Advised on Purchase of Company Mexico Company Advised Up Group of France Advised on Purchase of Advised Up Groupe Ltda., of the acquisition of the Company Advised CDHI Brasil the global service vouchers entire share capital of Participações Ltda., a company to buy a majority Planinvesti Administracao e subsidiary of Up Group, control in Policard. Policard Advised Group Chèque Servicos Ltda, a Sao Paulo- on its acquisition of is one of the leaders in Déjeuner, third-largest based provider of consumer Empório Card Ltda., a the market. With a strong player worldwide in its lending services. Brazilian-based provider of presence in the Brazilian market, in its acquisition consumer lending services Northeast and Southeast of Si Vale. The transaction in prepaid vouchers and regions. Up Group is now enables the buyer to access cards services in areas the fourth issuer in Brazil the American continent, such as employee benefits, with 5% market share. establishing Mexico as motivation and personal a hub to expand in other assistance services. countries such as Colombia, Peru, Chile, United States and Canada. 45
First Financial First Financial First Financial First Financial Loan Company Loan Company Loan Company Loan Company Small consumer loans LLC LLC LLC United States Small consumer loans Small consumer loans Small consumer loans United States United States United States Acquired 100% of Assets Acquired 100% of Assets Acquired 100% of Assets Acquired 100% of Assets Texas Loan Corporation SGS Finance, Inc. AC Finance, Inc. L&G Finance Inc. Small consumer loans Small consumer loans Small consumer loans Small consumer loans United States United States United States United States
Advised on Purchase of Advised on Purchase of Advised on Purchase of Advised on Purchase of Company Assets Company Company
Advised First Financial Loan Advised First Financial Advised First Financial Advised First Financial Comapny on the purchase Loan Company LLC on the Loan Company LLC on the Loan Company LLC on the of Texas Loan Corporation. acquisition of 100% of the acquisition of 100% of the acquisition of 100% of the The completed acquisition assets of SGS Finance. assets. assets. makes it the eleventh separately chartered community bank in the growing First Financial Bankshares´ family of Texas banks. 46 Financials
OTHER Financials
Sentral Financial Advent Banca di Asti Private Equity LLC International; Bain Italian regional bank Fund Small consumer loans Capital; Clessidra Italy Private equity fund United States Leading private equity India funds Acquired Majority Control Acquired 100% of Assets United Kingdom of Business Operations Other
RCL Finance, Inc. Acquired Majority Control Pitagora NCDEX Small consumer loans of Business Operations Leading Italian Commodity exchange United States consumer credit India ICBPI company Advised on Purchase of Leading Italian financial Italy Advised on Placement of Company institution Equity Italy Advised on Sale of Company Advised Sentral Financial Advised the investors of Advised on Purchase of on its purchase of RCL NCDEX on the placement of Company Finance, both consumer Advised Pitagora 1936 equity in a transaction with loan providers. S.p.A., a company owned a private equity firm. Advised Advent by Wise SGR (52%), International private equity Banca Popolare di Milano fund to buy a majority (24%) and Bonino 1934 control in ICBPI which (24%), in the disposal of employs 1,900 people and a 65% controlling stake in operates brands such as Pitagora S.p.A to Banca di Cartasi. The transaction Asti. Pitagora S.p.A. is a gives them more exposure consumer credit company, to the growing electronic with a leadership position payment market. in Italy. 47
Dresner Corporate TransUnion LLC Atalaya Capital Services Leading global credit Management Investor and public bureau Senior lender relations United States United States United States Acquired 100 % of Business Provided Growth Financing Acquired Business Operations Operations IFO SPV CIFIN Consumer finance Allen & Caron Leading credit bureau company Investor and public in Colombia United States relations Colombia United States Advised on Placement of Advised on Purchase of Debt Advised on Purchase of Company Company Advised IFO SPV on the Advised TransUnion LLC placement of debt in a Advised Dresner Corporate a leading global risk and transaction with Atalaya Services, a strategic information solutions Capital Management. communications firm provider to businesses and specializing in investor and consumers, to acquire a public relations, to acquire 71% ownership interest in Allen & Caron, a strategic CIFIN, one of two primary investor relations firm with Colombian credit bureaus. offices in New York City and This acquisition strengthens Irvine. TransUnion’s Latin America portfolio, where the company is already the market leader in five Central American countries and has a strong presence in Brazil, Chile and Mexico.
Healthcare
Up to $200M Source: Thomson Reuters 1 PwC 2 Houlihan Lokey 3 KPMG 4 Deloitte 5 BDO 6 The Braff Group 7 Rothschild 8 IMAP 9 Ernst & Young 10 Jefferies 50 Healthcare Ancillary Biotech / Services - IT, Pharma Consulting, Services (CRO, Staffing etc. CMOs and Tools) Biotechnology - Pharmaceuticals
Undisclosed Buyer Recipharm AB Galderma S.A. União Quimica Private investor Global pharmaceutical World-leading Leading Brazilian United States CDMO dermatology group pharmaceutical Sweden Switzerland company Invested in Seller Brazil Has entered into a long- Acquired 100% of the Lutz Surgical term supply agreement Shares Acquired a manufacturing Partners with, and acquired a facility from the Seller Emergent/urgent care manufacturing facility from Spirig Pharma AG surgicalist group in European Dermatology Novartis’ Taboa da Florida Alcon, a Novartis Group Serra plant United States Division Switzerland Global leading Ophthalmic products pharmaceutical Advised on Sale of manufacturing site Advised on Sale of company Company France Company Brazil
Advised the Seller in this Advised on Sale of Assets Advised Lutz Surgical Transaction Advised Spirig Pharma Partners in its on its sale to Galderma, a recapitalization by a joint venture of Nestlé and Advised Novartis in carving confidential private equity Advised Alcon, a Novartis L’Oreal. The deal is expected out its non-core solid partner, the terms of the Division, in a strategic to significantly strengthen manufacturing plant in deal were not disclosed. collaboration with Swedish Galderma’s position in Brazil from its commercial Lutz surgical Partners is a CDMO Recipharm AB. the dermatology market business and sell it along leading surgicalist practice The resulting transaction in CH, DE, AT, CZ, and SK; with a long term toll in the Florida and Arizona combines a long term expand global distribution manufacturing agreement markets. Lutz’s surgeons supply agreement for for Spirig’s skin care and to the local lab União provide specialized a range of ophthalmic dermatology products. Quimica. outsourced surgical products and the sale of the services to hospitals Alcon manufacturing site through a unique staffing in Kayserberg, France, to model, fundamentally Recipharm. delivering exclusive ER call coverage on a contract basis. 51
Tillotts Pharma, a Public sector Mutual Funds Domes Pharma SA subsidiary of Zeria banks in India Mutual funds Animal and human Pharmaceutical Banks India health pharmaceutical Co. Ltd. India company Pharma company Other France focused on Debt Restructuring gastroenterology Granules Limited Acquired 100% of Business Switzerland Shreya Life Pharmaceutical Operations Science Limited company Acquired global rights for Pharma India Laboratoires Entocort outside the US India d’Etudes et de Advised on Placement of Recherches en Global rights for Advised on Restructuring Equity Oligo Elements Entocort outside of Debt Therapie SAS the US, owned by Advised Investco Dietary supplements, vitamins and trace AstraZeneca Advised Shreya Life Science Management LLC Multinational elements Limited on the restructuring (Shareholder of Granules pharmaceutical France of debt in a transaction with India) on the placement of company equity in a transaction with public sector banks in India. Advised on Purchase of United Kingdom Mutual Funds, a Mumbai- Company based financial assest Advised on Purchase of management company. Asset Advised Domes Pharma SA to acquire 100% shares of Advised Tillotts Pharma, Laboratoire Léro, subsidiary a subsidiary of Zeria of EG Labo. Laboratoire Pharmaceutical Co., to Léro developed its range of acquire global rights for dietary supplements around Entocort from AstraZeneca, the marine-derived omega-3 excluding the U.S., which will combination, vitamins and remain with AstraZeneca. trace elements thereby Entocort is a locally-acting proposing full products in the glucocorticosteroid, currently scope of the targeted action. approved in more than 40 countries for the treatment of Crohn’s disease. 52 Healthcare
Healthcare Equipment and Supplies Medical Devices - Equipment and Diagnostics
Spectris plc LifeLabs Inc Silver Peak Silver Peak Supplier of precision Medical laboratory Partners Partners instrumentation and testing services Private equity firm Private equity firm controls Canada United States United States United Kingdom Acquired Purchased 100% of Acquired 100% of Business Acquired 100% of Business Business Operations Operations Operations BC Biomedical Laboratories Ltd Aamco Medical MedSource CAS Clean-Air- Medical laboratory Sales and distr. of Incorporated Service AG testing services durable medical Sales and distr. of Specialist for clean Canada equipment durable medical room measuring United States equipment services Advised on Sale of United States Switzerland Company Advised on Sale of Company Advised on Sale of Advised on Sale of Company Company Advised BC Biomedical on its sale to LifeLabs. Both Advised Aamco Medical, companies provide patient a Lehi-based provider of Advised MedSource Inc, Advised CAS Clean-Air- diagnostic and lab testing medical equipment, on a distributor and seller of Service AG a leading services, as well as home its acquisition by Silver durable medical equipment, cleanroom-services care and long-term care Peak Partners. The deal to Silver Peak Partners, a company, providing visits. The two companies is in line with Silver Peak’s Private Equity firm. measurement services, are merging to better serve investment strategies for process qualification, BC patients and their health small companies. calibration services and providers. product sales, primarily to the pharmaceutical manufacturing market on its sale to Spectris Plc., a productivity-enhancing instrumentation and controls company. 53
Lincare Holdings Mediplast AB / G.W. Berg & Co Ab Pantheon Respiratory, infusion Addtech AB Laboratory equipment, Healthcare Group therapy & medical Medtech wholesales ind. weighing solutions (controlled by equip Sweden Finland Permira) United States Services for hospitals Acquired 100% of Business Acquired 100% of Business and diagnostic centers Acquired Selected Assets Operations Operations United Kingdom of Seller’s Business Operations Fenno Medical Oy Labnet Oy Acquired Majority Control Medtech wholesales Reagents and of Business Operations Wright & Filippis Finland laboratory equipment non clinical group Finland Ingegneria Prosthetics & orthotics Advised on Sale of Biomedica Santa United States Company Advised on Sale of Lucia Company Biomedical equipment Advised on Sale of and systems Company Advised Fenno Medical Oy a leading medtech actor Advised Labnet Oy on is Italy in the Finnish market, sale to G.W. Berg & Co Lead a sale process for marketing a broad range Ab. Labnet concentrates Advised on Sale of Wright Filippis noncore of medical equipment and on the import, export and Company Sleep Therapy, Respiratory consumables from world- distribution of Life Science reagents, consumables and and DME service lines. leading suppliers on its Advised Ingegneria instruments. The transaction represents sale to Addtech Group. The Biomedica Santa Lucia, a a significant step in the acquisition entails strategic key Italian-based provider of company’s ultimate goal expansion in the Finnish a large range of biomedical of refocusing on its core market, boosting Mediplast’s equipment service and Prosthetics, Orthotics, and thus Addtech Life clinical engineering, on its Mobility and Accessibility Science’s position as a sale to Pantheon Healthcare businesses. leading Nordic medtech Group. The combination supplier. The acquisition created Europe’s first will take effect immediately integrated multi-vendor and is expected to have a healthcare service platform. marginally positive effect on Addtech’s earnings per share during the current year. 54 Healthcare
Medical Devices - Equipment and Diagnostics Other Healthcare
CooperSurgical, CooperSurgical BENU Ceska Euromedic Inc. Provider of women’s Republika a.s. International Global medical device healthcare solutions Pharmacy chain, part of Diagnostic services company United States PHOENIX Intl. Italy United States Czech Republic Acquired 100% of Equity Acquired 100% of Business Acquired 100% of Equity Acquired 100% of Shares Operations The Pipette Research Company VEROPHARM a.s. Ve. Pa. Fin. S.r.l. Instruments Manufacturer of micro Pharmacy chain (Ve.Di. Group) Limited pipettes for the ART Czech Republic Healthcare services Supplier of IVF devices market Italy United Kingdom Australia Advised on Sale of Company Advised on Purchase of Advised on Purchase of Advised on Purchase of Company Company Company Advised VEROPHARM, a pharmacy chain based Advised Euromedic Advised Cooper Surgical on Advised CooperSurgical in Czech Republic, on the International for the the acquisition of Research a leading provider of sale of 100% of its shared acquisition of 100% of the Instruments Limited, a women’s health care to BENU Ceska Republika, capital of Ve.Pa.Fin. (Ve.Di. specialist manufacturer solutions to acquire The another pharmacy chain group), a private accredited and supplier of in-vitro Pipette Company (TPC), part of PHOENIX Int. provider of healthcare fertilization (IVF) medical a manufacturer and services such as diagnostic devices and systems. distributor of micro pipettes imaging, laboratory analysis for the ART market. TPC’s and medical examinations. line of high quality products will be integrated into CooperSurgical’s world leading ART company ORIGIO. 55
Other Healthcare
El Pacifico Undisclosed ESSILOR OPTICA Frutarom Ltd. Peruano Suiza Financial institution INTERNATIONAL Flavours and natural Cia de Seguros y Egypt HOLDING S.L. fine ingredients Reaseguros Manufacturer of specialist Insurance company - Acquired 20.8% of Shares ophtalmic lenses and Israel pathology lab equipment Peru Ibn Sina Pharma Spain Acquired 100% of Business Pharmaceutical Operations Sale-purchase of Holding distribution company Acquired Majority Control Company and Sale-purchase Egypt of Business Operations Extrakt Chemie Dr. of Biopap Bruno Stellmach Advised on Sale of OCUTEC S.A.C. GmbH & Co. KG Precisa - Holding Company Manufacturer of Manufacturer of of Biopap and ophtalmic lenses specialty ingredient Peru extracts ACML Advised Ibn Sina Germany Pathology lab biopap Pharma, the Egyptian Advised on Sale of and clinic lab ACML Pharmaceutical Distribution Peru Company Advised on Sale of company- serving retail Company pharmacies, hospitals and Advised on Sale of Holding all major healthcare units Advised Ocutec Laboratorio, Company and Purchase of across the country on its a prescription laboratory Advised Extrakt Chemie, a Biopap sale. in Peru on its sale to market leader in Germany, Essilor Optica, located manufacturer of specialty Advised Prescia, a holding in Spain- world leader in ingredients , primarly company of Biopap - vision solutions, present in for pharma, natural Laboratorio Arias Stella more than 100 countries. medications, nutritional (a pathology laboratory The transaction will enable supplements, on its sale to operator) on the sale- Essilor to expand its Frutarom Ltd. For Frutarom purchase of the holding product and brand portfolio the acquisition is a further company and sale-purchase in a country where there step in strengthening its of Biopap to El Pacifico are more than 30 million position as a leading global Peruano Suiza Ciade inhabitants and strong manufacturer of specialty Seguros y Reaseguros, a demand for better vision. fine ingredients. unit of Credicorp Ltd. 56 Healthcare
Patient Services (HMOs, Hospitals, Sr. Facilities)
Seniority Chile Elements HSBC and Private Banco Davivienda Developer and operator Behavioral Health Investors Bank of senior housing Provides behavioral Debt and equity Colombia projects health care programs investors Chile United States United Kingdom Provided Term Loan Facility
Signed a long-term Acquired 100% of Business Provided Growth Funding Centro lease agreement for the Operations Hospitalario development and operation Fortius Clinic Serena del Mar of a Senior Housing project Park Bench Group Orthopaedic diagnostic Hospital A drug & alcohol & treatment clinic Colombia Inmobiliaria Isla treatment center United Kingdom Hope SpA United States Advised on the Placement Group of local real Advised on the Placement of Debt estate investors Advised on Sale of of Debt and Equity Chile Company Advised as the exclusive Advised on the selection Advised the Fortius Clinic financial advisor for Centro process of a qualified Advised Park Bench on the fundraising to set Hospitalario Serena developer and operator for Group, a progressive up a second orthopaedic del Mar in the financial a Senior Housing project addiction treatment center diagnostic and treatment structuring and securing specializing in therapies clinic. Equity and debt was of debt resources for $60 for drug and alcohol raised from a group of million with two local Advised Inmobiliaria abuse, on its acquisition private individuals as well as Banks, IIC and IFC. The Isla Hope SpA on the by Elements Behavioral several senior orthopaedic resources will be used for selection process for Health. Elements is a consultants who will be the development of the first a long term lease of a family of behavioral health joining the existing Fortius phase of a high complexity real estate property for care programs that offers team. The fundraising was hospital, consisting of the the development and comprehensive, innovative supported by additional construction of a 5 story financing of a senior treatment for substance debt obtained from HSBC. building with 151 hospital residence project. The abuse, sexual addiction, beds including intensive contract was awarded to trauma, eating disorders care, acute care, oncology Seniority Chile S.A. and other mental health and outpatient services. disorders. 57
Patient Services (HMOs, Hospitals, Sr. Facilities)
First Financial Bancorp. (NasdaqGS:FFBC) Provides commercial banking and other banking, and banking- related services United States
Finance the Purchase and Improvement of commercial real estate
Project Apple Short-term inpatient geri-psych focused hospital United States
Advised on the Placement of Debt
Advised Project Apple on the placement of debt in a transaction with First Financial Bancorp (NasdaqGS:FFBC).
Industrials
Up to $500M Source: Thomson Reuters 1 PwC 2 KPMG 3 Ernst & Young 4 IMAP 5 Deloitte 6 BDO 7 Rothschild 8 Lincoln International 9 Mizuho Financial Group 10 M&A International 60 Industrials
Aerospace and Defense
H-D Advanced Global Eagle Mafelec SAS Komercni banka Manufacturing Entertainment Manufacturer of a.s. Manufactures severe Provider of aircraft electric and electronic A leading merchant duty, high-precision connectivity systems equipment bank in the Czech products United States France Republic United States Czech Republic Acquired 100% of Business Acquired 100% of Business Acquired 100% of Business Operations Operations Provided entire Refinancing Operations of the Project NavAero AB Comtronic GmbH Precision Aero Avionics integration Manufacturer of optical TESLA Jihlava a.s. Corporation and EFB solutions & electronic aeronautic Leading mechatronic Manufactures machined Sweden desk panels composite parts aircraft components Germany provider United States Advised on Purchase of Czech Republic Company Advised on Purchase of Advised on Sale of Company Advised on Restructuring of Company Debt and Debt Refinancing Advised NavAero during the process and identified Advised the buyer Mafelec Advised Precision Aero the buyer, Global Eagle SAS, a Lyon-based Advised on restructuring of Corporation, manufacturer Entertainment Inc (Global). manufacturer of electric and debt and debt refinancing. of machined aircraft electronic equipment on the components, on its sale acquisition of the business of 100% of business operations of Comtronic operations to H-D GmbH, a manufafcturer Advanced Manufacturing, of optical and electronic manufacturer of severe aeronautic desk panels. duty, high-precision products in aerospace and defense. 61
automobiles and Components
JP Morgan Chase Eket Industrier AB Inducore AB Undisclosed Senior, secured, asset Manufacturer of Swedish industrial Investors backed lending group precision components group Mutual funds United States Sweden Sweden India
Provided Acquisition Acquired 100% of Business Acquired 100% of the Provided Growth Funding Funding Operations Shares TVS Motors Northern Stamping Uppåkra Axipto AB A leading two wheeler Metal stamping Mekaniska AB Subcontractor mainly to vehicle manufacturing company Manufacturer of heavy truck industry company United States precision components Sweden India Sweden Advised on the Placement Advised on Sale of Advised on Placement of of Debt Advised on Sale of Company Equity Company
Advised HDS, on the sale Advised the seller, Axipto Advised the shareholder of the company to Bear Advised on the sale of AB, a subcontractor mainly of TVS Motors, a leading Diversified Inc. HDS offers Uppakra Mekaniska AB, to the heavy truck industry two wheeler vehicle core competencies in metal a Skillingaryd-based of 100% of its shares to manufacturing company stamping and fabrication, manufacturer of metal Inducore AB, a Swedish on placement of equity welding (both resistance cutting machine tools industrial group. in a transaction with and robotic), drilling, to Eket Industrier AB, a Mutual Funds, a Mumbai- tapping, staking, powder manufacturer of metal based financial asset coat painting, electro- cutting machine tools. management company. mechanical assembly, and warehousing and distribution. It completed the acquisition of 100% of the stock of London, Kentucky-based Highlands Diversified Services, Inc. (HDS). 62 Industrials
automobiles and Components Building / Construction and Engineering
Harsha Engineers Bradford Coatings Yellow Dot, Inc. SIG plc Limited LLC Private equity Distributor of insulation Industrial and auto Coatings manufacturer United States and ventilation bearing component United States products manufacturer Acquired 100% of Business United Kingdom India Acquired 100% of Assets Assets Acquired 100% of the Acquired 100% of Business Bradford Yellow Dot, LLC Business Operations Industries Inc. HVAC installer & Coatings manufacturer servicer Multijoint Undisclosed United States United States Distributor of insulation Industrial bearing and ventilation component Advised on Sale of Advised on Sale of products manufacturer Company Company Switzerland Romania Advised on Sale of Advised on Purchase of Advised Bradford Advised Yellow Dot Heating Company Company Industries Inc., a coatings and Air Conditioning in manufacturer, on its sale to its sale to a family office. Advised Multijoint, a Bradford Coatings Yellow Dot Heating and Advised Harsha Engineers Air Conditioning is a distributor of insulation and Limited, an industrial and leading provider of HVAC ventilation products, on its auto bearing component installation and services sale to SIG. manufacturer on the to the residential and purchase of an undisclosed commercial markets in Romanian-based North Carolina. manufacturer. 63
Trive Capital Undisclosed Buyer Daiwa House OBOS Prosjekt AS Middle market private Private investor Leading home builder Project and construction equity Czech Republic and real estate management services United States company Norway Acquired 100% of Business Japan Acquired Majority Control Operations Acquired Majority Control of Business Operations Acquired Strategic Minority of Business Operations ContiMade, spol. Ownership Amteck, LLC s.r.o. Stema Rådgivning Design/build electrical Modular construction VBHC AS services provider containers Affordable housing Project and construction United States manufacturer developer management services Czech Republic India Norway Advised on Sale of Company Advised on Sale of Advised on Investment in Advised on Investment in Company Company Company Advised Amteck LLC, a Lexington-based provider Advised on the sale of Advised Daiwa House Represented the seller in of construction and ContiMade spol sro, a Industry Co Ltd of Japan, a transaction where Obos electrical engineering Kanovice-based commercial a leading home builder Prosjekt AS, a unit of Obos services, in a leveraged building constructor, and real estate company, Bbl, agreed to acquire a 60% buyout transaction in which which was divested to an on acquisition of an interest in Stema Radgivning Trive Capital LLC acquired undisclosed acquirer. undisclosed minority stake AS, an Oslo-based provider an undisclosed majority in VBHC Value Homes Pvt of technical consulting interest. Ltd, a Bangalore-based services, from Stema housing constructor, in Radgivning Holding AS. a privately negotiated transaction. 64 Industrials
Building / Construction and Engineering
Lagans Byggnads ÅF Advansia AS Cofely Axima nv Private Investor AB Engineering and HVAC Private investor A project development consulting company Belgium Belgium and construction Norway company Acquired 100% of Business Acquired 100% of Business Sweden Acquired 100% of Business Operations Operations Operations Acquired Selected Assets Vandewalle NV Gebroeders Van of Seller’s Business Erstad & Lekven HVAC Breedam bvba Operations Oslo AS Belgium Construction and Engineering and installation of skylight TbyggN i Värnamo consulting company Advised on Sale of modules AB Norway Company Belgium A project development and construction group Advised on Purchase of Advised on Sale of Cofely Axima SA, a unit Sweden Company Company of Engie SA, acquired Advised on Sale of Vandewalle NV, a Jabbeke- Advised Gebroeders Van Company Advised AF Advansia AS, based manufacturer of a unit of AF AB, on the air-conditioning equipment. Breedam bvba, a company acquisition of the entire Advised Vandewalle on the involved in the construction Lagans Byggnads AB, share capital of Erstad & sale of the company. and installation of skylight a residential remodeler Lekven Oslo AS, an Oslo- modules, on its sale to an acquired certain assets based provider of technical undisclosed buyer. of TbyggN i Varnamo consulting services. AB, a Varnamo-based project development and construction company, ultimately owned by TbyggN Holding AB. 65
NCN EMC Limited Piramal Enterprise Piramal Enterprise Construction company EPC company in T&D NBFC NBFC France sector India India India Acquired 100% of Business Provided Term Loan Facility Provided Term Loan Facility Operations Acquired Strategic Interest in Seller’s Business NCL Limited Sanghi Industries CERP Cement manufacturer Limited Building constructor McNally Bharat India Cement France Engineering Co. India Ltd. Advised on Restructring Adviced on Purchase of EPC company and Placement of Debt Advised Restructuring and Company India Placement of Debt
Advised on Purchase of Advised NCL Limited, Advised Nord Constructions Advised Sanghi Industries Company a Hyderabad-based Nouvelles SAS, a cement manufacturer, on Limited, a cement company construction company, on restructring and placement based in Mumbai on the the acquisition of CERP - Advised EMC, a service of debt. restructuring and placement Societe de Construction provider to power of debt. Entretien Rehabilitation transmission and du Patrimoine SASU, a distribution firms, on its Cormeilles En Parisis- acquisition of McNally based commercial building Bharat Engineering Co. Ltd., constructor. a provider of engineering and turnkey solutions. 66 Industrials
Building / Construction and Engineering
LIC IPO investors IPO investors Sumitomo Forestry Life insurance Institutional and retail Institutional and retail America, Inc. corporation of India investors investors participating Residential land India India in IPO development and India construction Provided Term Loan Facility Provided Growth Funding United States Provided Growth Funding J K Cement Ltd. Power Mech Acquired 60% Interest in Cement Projects Ltd. Pennar Engineered Seller’s Business India EPC company Building Systems India Ltd. Dan Ryan Builders Advised on Placement of EPC company Group Debt Advised on Placement of India Residential land Equity development and Advised on the Placement construction Advised J K Cement Ltd. of Equity United States A cement company based Advised Power Mech in Kanpur, on placement of Projects Ltd. an EPC Advised on Purchase of debt. company based in Advised Pennar Engineered Company Hyderabad, on placement Building Systems Ltd. of equity. an EPC company based in Hyderabad, on the Advised Sumitomo Forestry placement of equity. America Inc, a unit of Sumitomo Forestry Co Ltd, on the purchase of a 60% interest in DRB Enterprises LLC, a Frederick-based housing construction company. 67
Instalco Sverige Instalco Sverige APK Group Sweco PM Oy AB AB External, internal and Project management & Technical installation Technical installation telecom construction engineering in building company company Belgium construction Sweden Sweden Finland Acquired 100% of Business Acquired 100% of Business Acquired 100% of Business Operations Acquired 100% of Business Operations Operations Operations Group Ageres - Romerike Elektro AR Elektro ATN - AS Altenia Oy AS Prosjekt AS External, internal and Project management & Electrical installation Electrical installation telecom construction engineering in building company company Belgium construction Norway Norway Finland Advised on Sale of Advised on Sale of Advised on Sale of Company Advised on Sale of Company Company Company Algemene Participatie Instalco Sverige AB of Advised AR Elektro Prosjekt Kerkhofs NV acquired Advised Altenia Oy, a Sweden, a unit of Instalco AS, a Klofta-based electrical Ageres NV, a Malle-based project management and Holding AB, acquired the contractor, on the sale of commercial building engineering firm, on its sale entire share capital of the company to Instalco constructor.. Advised of the company to Sweco Romerike Elektro AS, a Sverige AB of Sweden, a Ageres on the sale of the PM Oy, a unit of Sweco AB, Klofta-based electrical unit of Instalco Holding AB, company. a Vaasa-based provider contractor. which acquired the entire of financial investment share capital of AR Elektro services. Prosjekt AS. 68 Industrials
Machinery
Keller AG Pannonbau - Wolf-Heiztechnik Xi’an ShaanGu Minimal windows Linartech Kft. Gmbh Power Co., Ltd. manufacturer Automotive industry Manufactures and Industrial blower Luxembourg supplier supplies HVAC and turbine systems Hungary equipment manufacturer Acquired 100% of Business Germany China Operations Acquired Majority Control of Business Operations Acquired 100% of Business Acquired 75% of Shares Hofstädter Faipari Operations Kft. Alprosys Kft. EKOL spol. s r.o. Wood and wood- Custom-made Pro-klima d.o.o. Power generation OEM aluminium windows machinery production HVAC equipment - steam turbines up to manufacturer for automotive producer 70MW Hungary Hungary Croatia Czech Republic
Advised on Purchase of Advised on Sale of Advised on Sale of Advised on Sale of Company Company Company Company
Advised the Luxembourgian Advised Alprosys Group, Advised on the sale of Xi’an Shaangu Power Co Ltd minimal window a leading player in the Pro-klima d.o.o., a HVAC of China, a unit of Chinese manufacturer Keller domestic market for equipment producer, to state-owned Xian Industrial AG.The company acquired individual machines, Wolf-Heiztechnik Gmbh, a Assets Operation Co Ltd’s 100% of the wood and production lines and Mainburg-based comapny Shaanxi Blower (Group) Co wood-aluminium division manufacturing cells. With that manufactures and Ltd subsidiary, acquired a of Hungarian Hofstädter nearly €10 million turnover, supplies HVAC equipment. 75% interest in Ekol spol sro, Group. This acquisition the Group’s customer base a Brno-based manufacturer enables Keller AG to includes local subsidiaries of and wholesaler of steam broaden its presence in CEE leading global car producers, turbines. as well as ensure a faster electronic OEMs and Tier and more flexible delivery 1 companies, but primarily service of its products into automotive suppliers. The the region. investor further carries out export business activities as a subcontractor in Germany, Austria and the Netherlands. 69
Active Capital Pfaudler-Werke Jungheinrich AG Serendipity Company Fund GmbH Intralogistics service Innovations AB Manager B.V Process solutions and solution provider PE investing in technical Private equity company Germany services companies Netherlands Germany Sweden Acquired 100% of Business Acquired Acquired 100% of Shares in Operations Acquired 70% of the Target Company Company Amphitec BV, MIAS Amphitec Julius Montz Maschinenbau, Metus d.o.o. Service BV, GmbH Industrieanlagen & Installation, Amphitec Rental Manufacturer of Service GmbH modernization & repair of elevators BV, Amphitec distillation equipment Intralogistics equipment Croatia Equipment BV Germany manufacturer Manufacturer of Germany Advised on Sale of Advised on Sale of industrial vacuum Company Company equipment Advised on Sale of Company Netherlands Advised Julius Montz, a Advised Metus doo on Advised on Sale of Hilden-based manufacturer Advised the seller, the sale of the company. Company of industrial machinery, on MIAS Maschinenbau Serendipity Innovations AB its sale to Pfaudler Inc of Industrieanlagen & Service of Sweden acquired a 70% the US, a unit of Deutsche interest in Metus doo, a Advised Amphitec, GmbH, a Munich-based Beteiligungs AG. The Zagreb-based manufacturer and industrial vacuum manufacturer of conveyor ultimate acquiring parent of elevators. equipment provider, on its and conveying equipment company is Deutsche sale of a majority stake on the sale of its business Beteiligungs AG, located holding to Active Capital operations to Jungheinrich in Frankfurt, Germany, is Company, a Private Equity AG, located in Hamburg, private equity firm focusing firm. Germany, a manufacturer of on investing in companies industrial trucks. in the mid market segment with annual sales of €50 million to €500 million, mainly in the industrial sector. 70 Industrials
Other Industrials
Hydraulik Nord NES Investments Corning Top Side Industries GmbH II BV Incorporated Group B.V. Holding company Private equity firm Provides end-end Participation of Écart Germany Netherlands fiber & copper product Invest solutions Netherlands Acquired 100% of Business Acquired Majority Control United States Operations of Business Operations Acquired 100% of the Acquired 100% of Business Shares KMF Kemptener Adesso Valve BV Operations Maschinenfabrik Valve manufacturer Rolloos Holding GmbH Netherlands TR Manufacturing B.V. Manufacturer of Manufactures fiber Measurement and hydraulic cylinders Advised on Sale of optic & copper cable control equipment Germany Company United States Netherlands
Advised on Sale of Advised on Sale of Advised on Sale of Advised Nostro Futuro BV Company Company Company on their sale of a majority of the shares of Adesso Valve Hydraulik Nord GmbH BV, a valve manufacturer Advised TR Manufacturing, Advised Rolloos Holding acquired the entire share specialised in subsea valves a leading provider of fiber- B.V. on its sale of 100% capital of KMF Kemptener for the offshore, to NES II optic and copper cable, of its shares to Top Side Maschinenfabrik GmbH, BV, a Dutch private equity component interconnects Industries Group B.V., a Kempten-based firm. and electro-mechanical a private equity firm. manufacturer of fluid power assemblies, on its Rolloos is a measurement cylinders and actuators, acquisition by Corning, and control equipment from Otto Nussbaum. a global provider of company. connectivity solutions for every part of the communications network. TR provides its products to customers in a wide range of technology industries. 71
Blue Point Capital KIESELMANN Ideal Standard Thyssenkrupp AG Partners, LP FLUID PROCESS Yapi Malzemeleri Industrial group Private equity GROUP JV formed by Ideal Germany United States Producer of process Standard and Ece components and Holding Acquired 100% of Business Acquired 100% of Business process plants Turkey Operations Operations Germany Acquired Selected Assets Ib Andresen Russell Food Acquired Total Assets of Seller’s Business Industri Equipment Ltd of Seller’s Business Operations Magyarország Kft., Food service equipment Operations Steel service center disbribution Ece Holding Hungary Canada Wilhelm Guth Turkey based holding Ventiltechnik active in sanitary ware Advised on Sale of Advised on Sale of GmbH & Co. KG Turkey Company’s Subsidiary Company Production of stainless steel valves for F&B Advised on Sale of industry Company Advised the subsidiary of Advised Russell Food Germany Danish Group IAI Holding Equipment Ltd, food service AS, Ib Andresen Kft. The Partly represented the seller, equipment distributionon on Advised on Sale of the company is focusing Ece Holding, a Turkey-based its sale to Blue Point Capital Company’s Assets on the activity of a steel Partners, LP, a Seattle-based holding active in sanitary service center (“SSC”). private equity firm. ware in the acquistion of According to the seller, Advised Wilhelm Guth selected assets of of the the company’s domestic Ventiltechnik GmbH & seller´s business operations, growth opportunities Co. KG on the sale of Ideal Standard Yapi were significantly limited the company assests. Malzemeleri, a JV formed and the owners did not KIESELMANN GmbH by Ideal Standard and Ece see the possibility of the acquired the bankrupt Holding involed in home company’s stable and long- Wilhelm Guth Ventiltechnik improvement retailing. term profitability. With this GmbH & Co KG, a Landau- transaction, ThyssenKrupp’s based manufacturer of Ferroglobus Zrt. further metal valves and pipe strengthens its domestic fittings. presence and, plans on operating with a close to 200,000 ton capacity. 72 Industrials
Other Industrials
Revoseal Europe Hengst SE & Co. Addtech Group AB ITAB Shop GmbH KG Technology trading Concept AB Manufacturers of seals Manufacturer of group One of Europe’s largest Germany automotive filters Sweden suppliers of shop fitting Germany Sweden Acquired Assets of Acquired 100% of Business the Seller’s Business Acquired 100% of Business Operations Acquired 100% of the Operations Operations Shares Sammet Dampers Jungtec GmbH & Nordic Air Oy MB Shop Design Co. KG Filtration AS A leading industrial AB Developer and Manufacturer of damper developer Develops and produces manufacturer of seals industrial filters Finland shop fitting concepts Germany Denmark Sweden Advised on Sale of Advised on Sale of Advised on Purchase of Company Advised on Sale of Company Company Company Advised on the sale of Advised on the sale of Advised the buyer Hengst Sammet Dampers Oy, a Advised on the sale of Jungtec GmbH & Co SE & Co. KG, a Munster- leading industrial damper MB Shop Design AB, a KG, a Pulheim-based based manufacturer of developer to Addtech Group developer and producer of manufacturer of seals to automotive filters, on its AB, a technology trading shop fitting concepts, to revoseal Europe GmbH, who 100% acquisition of the group. ITAB Shop Concept AB, one acquired the assets of the business operations of of Europe´s largest suppliers seller´s business operations. Nordic Air Filtration AS, a of shop fittings. With this manufacturer of industrial completed transaction, filters based in Nakskov, MB Shop Design can Denmark. offer existing customers a broader product portfolio and reach new customers through ITAB Shop Concept’s distribution channels. 73
Transportation and Infrastructure
IDEX Corporation Millstein & Co. Bank of America AGRO Merchants Listed industrial Private equity Bank Group company - fire & safety United States United States Refrigerated specialist warehousing and United States Acquired 100% of Business Provided Revolving Credit distribution Operations Facility United States Acquired 100% of Business Operations Metal Powder American Micro Acquired 100% of the Products Products Shares AWG Fittings Producer of powder Precision machining Group metal components company serving the ADB Cool Leading manufacturer United States transport industry Company of fire protection United States Refrigerated systems Advised on Sale of warehousing and Germany Subsidiary Advised on the Placement distribution of Debt Netherlands Advised on Sale of Company Advised on the sale of Advised on Sale of Metal Powder Products Advised on the Refinance of Company Co, a Westfield-based American Micro Products, Lukas Hydraulik GmbH, a manufacturer of powder Inc. unit of IDEX Corp, definitively metallurgy to Millstein & Advised ADB Cool agreed to acquire AWG Co LP, a private equity firm, Company, a family business Fittings GmbH, a Giengen- located in Washington, D.C. which operates coldstores based manufacturer of and with a specialization hoses and belting, from in fruits. It was acquired by Paragon Partners GmbH. AGRO Merchants Group, The acquisition is part of the a US-based company growth strategy of IDEX. The focused on providing AWG transaction, coupled global innovative cold chain with the recent acquisition solutions. of Akron Brass in the US, further supports the global supply of their customers with best in class life safety and fire suppression solutions. 74 Industrials
Transportation and Infrastructure
Zongshen Famous Holdings Bertani Trasporti Rajasthan Industrial Group, Pte Ltd (subsidiary Logistics player in the Ventures Ltd of Singapore Post automotive industry Private equity fund Leading motorcycle and Ltd) Italy India engine manufacturer Provider of freight China forwarding services Acquired 100% of Business Provided Growth Funding Singapore Operations Entered strategic Leeway Logistics partnership and Acquired Acquired 80% Stake in F.lli Elia Ltd. minority interest Logistic player in 3PL service provider Rotterdam Harbour cars and commercial India Harbour Air Ltd Holding B.V. vehicles Scheduled service, tour Provider of Italy Advised on Placement of and charter airline consolidation and Equity Canada forwarding services Advised on Purchase of Company Netherlands Advised on Sale of Advised Leeway Logistics Company Advised on Sale of Limited on placement of Advised Bertani Trasporti, equity. Company leading group in the vehicle Zongshen Tianchen General (cars, motorcycles and Aviation Co of China, a unit Advised Rotterdam Harbour commercial vehicles) of Zongshen Industrial Holding B.V,. A Rotterdam- storage and transportation Group CoLtd, acquired a based provider of port services and controlled 49% stake in Harbour Air and harbour services on by the Bertani’s family, Ltd, a Richmond-based its sale of an 80% stake to completed the acquisition provider of passenger Famous Holdings Pte Ltd, of a 100% stake in F.lli airline services, in a privately a subsidiary of Singapore Elia S.p.A., a group based negotiated transaction. Post Ltd, a provider of in Moncalieri (Turin) and Advised on the sale of the freight forwarding services. operating in the same company. industry, thus consolidating its leading position in the sector. 75
Undisclosed Buyer Syndicate Led by Adventura Prevozi Holding company IDB d.o.o. China IDB, Bancolombia, Bus transportation Corpbanca, FDN Slovenia Acquired 100% of Shares United States Acquired 97.31% Shares Krauth Technology Provided Term Loan Facility GmbH Avrigo d.o.o. Provider of ticketing Perimetral Oriental Bus transportation solutions de Bogotá Slovenia Germany Infrastructure Colombia Advised on Sale of Advised on Sale of Company Company Advised on the Placement of Debt Adventura Prevozi Dutech Holdings Limited Holding doo agreed to of China acquired the Represented the borrower acquire a 97.31% interest entire share capital and advised on the in Avrigo dd, a Nova of krauth technology placement of debt in an SPV Gorica-based provider of GmbH, an Eberbach- for the development of a charter bus services, from based manufacturer of 153 km road in Bogotá. Zavarovalnica Triglav dd. commercial and service Advised the seller Avrigo in industry machinery. the transaction.
Materials
Up to $500M Source: Thomson Reuters 1 PwC 2 Ernst & Young 3 KPMG 4 BDO 5 Deloitte 6 Lincoln International 7 IMAP 8 Rothschild 9 Mizuho Financial Group 10 Houlihan Lokey 78 Materials
Chemicals
Lubar & Co. Lotorp Blackford Capital Mutual Funds Family office Industrial group LLC / Amtech, LLC Mutual funds United States Sweden Midwest based private India equity firm Acquired 100% of Business Acquired 100% of Business United States Equity Placement Operations Operations Acquired Majority Control Shareholders ChemDesign Candor Sweden of Business Operations Oriental Carbon Products, Inc. Chemical and metal and Chemicals Provides chemical toll supplier McClarin Plastics, Limited processing Sweden Inc. Specialty chemicals United States Designer & India Advised on Sale of manufacturer of Advised on Sale of Company thermoformed plastic Advised on Placement of Company United States Equity Advised the owners of Advised on Sale of Candor in the sales process Advised ChemDesign Company Advised the Shareholders Products Inc., a provider of to Bolagsgruppen Lotorp, Oriental Carbon and custom toll manufacturing an industrial group that Chemicals Limited on services to the global acquires and develops Advised McClarin Plastics, a the placement of equity chemical industry, on medium sized businesses designer and manufacturer in a transaction with its sale to Lubar & Co. with a long term view on the of thermoformed plastic, on Mutual Funds, a Mumbai- in a secondary buyout investments. its sale to Blackford Capital based financial asset transaction. LLC / Amtech. management company. 79
Construction Materials Containers and Packaging
Pohjanmaan Mohawk Industries RPC GROUP PLC Gilde Equity Rakennuspelti Oy World’s largest flooring Leading supplier of Management Sheet metal and glass manufacturer rigid plastic packaging Benelux works United States United Kingdom Private equity Finland Netherlands Acquired 100% of Business Acquired Majority Control Acquired 100% of Shares Operations of Business Operations Acquired Majority Control of Business Operations Scan-Mikael Oy Cerámica San Helioplast d.o.o. Manufactures and Lorenzo (North Leading producer of pack2pack designs glass wall American rigid plastic packaging Halsteren B.V. systems operation) in SEE Industrial tinplate Finland Ceramic tile Bosnia and packaging manufacturer Herzegovina Netherlands Advised on Sale of Mexico Company Advised on Sale of Advised on Sale of Advised on Sale of Company Company Company Advised Scan-Mikael, a manufacturer and designer Advised Helioplast Advised Greif international of glass wall systems, on Advised Cerámica San doo, manufacturer and B.V. on the carve out of their the sale of a 100% of its Lorenzo, Mexico based wholesaler of plastic European tinplate packaging shares to Pohjanmaan subsidiary of Etex, containers, in its sale of subsidiary pack2pack Rakennuspelti, a sheet ceramic tile manufacturer a majority interest to UK- Halsteren B.V. to Dutch metal and glass works company- on its sale to based RPC Group PLC. private equity group Gilde company. Dal-Tile, a division of the The acquisition offers RPC and management. world’s largest flooring market entry to Bosnia and manufacturer Mohawk Herzegovina, strengthening Industries. The acquisition its sales and manufacturing will support Dal-Tile’s growth position in southeast in Mexico and strengthen Europe. its position, especially in the American West and Southwest. 80 Materials
Containers and Packaging
Private Investor Groupe JBT Inter IKEA Mitsui & Co. Private investor Production of plastic Investments AB One of the largest Belgium components Invests in non-listed conglomerates in Japan France Swedish companies Japan Acquired Majority Control Sweden of Business Operations Acquired 100% of Business Acquired Minority Shares Operations Acquired Majority Control Pelgrims of Business Operations Sarten Ambalaj Verpakkingen Kaona Leading metal Producer of packaging Injection moulding of Eson Pac Group packaging products material plastic parts Complete packaging manufacturer Belgium Hungary solutions provider Turkey Sweden Advised on Sale of Advised on Purchase of Advised on Sale of Company Company Advised on Sale of Company Company
Advised Pegrims Advised Groupe JBT, Advised Sarten Ambalaj, Verpakkingen on the sale a producer of plastic Advised Eson Pac Group, an integrated packaging of the company to a private components on its a developer and producer manufacturer in Turkey, investor. acquisition of Kaona, of complete packaging to sale its minority (15%) a Hungary-based solutions, on its sale to Inter shares to Mitsui & Co., manufacturer of plastics IKEA Investments AB. Ltd. Mitsui has identified pipes and pipe fittings. Turkey as a priority country in its new medium-term management Plan, and equity participation into Sarten will enhance Mitsui’s effort to benefit from the economic growth of Turkey and its neighboring countries. 81
Barton Creek Al Pack d.o.o. Multi-Color PO.MO. S.r.l. Equity Partners Manufacturing of Corporation Private company Private equity firm high-quality packaging Global company Italy United States solutions providing label Serbia solutions Acquired Majority Control Invetsed in Seller United States of Business Operations Acquired 100% of Business FlexXray LLC Operations Acquired 100% of Business Casoni B2B outsourced Xray Operations Fabbricazione services to food Uniprint Knauer Liquori S.p.A. industry GmbH & Co KG Cashin Print Spirits private label and United States Manufacturing of Specialist printer for the co-packing printed lids and labels pharmaceutical industry Italy Advised on Sale of Germany Ireland Company Advised on Sale of Advised on Sale of Advised on Sale of Company Company Company Advised FlexXray LLC in an investment by Barton Creek Advised to Davide Campari- Equity Partners, the terms of Advised Uniprint Knauer Advised Cashin Print, Ireland Milano S.p.A. in the which were not disclosed. GmbH & Co KG, a German based company which divestment of 100% stake aluminium lid producer, on offers a full range of print in Casoni Fabbricazione its sale to Al Pack d.o.o, services including concept Liquori S.p.A., a leading manufacturer and supplier and design, personalised Italian company in the of lacquered and laminated printing, digital print and segment of private label and aluminum foils, lids, traditional litho print, on co-packing activities in the aluminum containers, and its sale to Multi-Color Spirits business. Buyer is plastic packaging products Corporation (MCC), one of PO.MO. S.r.l., an Italy-based headquartered in Subotica, the largest label companies investment vehicle. Serbia.The acquisition in the world. MCC states it will enhance growth in Al intends to support growth, Pack’s priority segments, both in Ireland and the rest and provide an excellent of Europe, and that this opportunity to accelerate acquisition broadens its the profitable growth of the healthcare customer base group as whole. and printed product range. 82 Materials
Metals and Mining
Fomas Spa Scorpio Mining Gjuteriteknik LM Minemakers through the Corp. Abrahamsson AB Limited subsidiary Fomas Silver producer Zink foundry business Exploration, evaluation Inc. Canada with surface treatment & dev. of mineral Production of forgings Sweden deposits and seamless rolled Acquired 100% of Business Australia rings Operations Acquired 100% of Business Italy Operations Acquired 100% of a near- U.S. Silver & Gold term rock phosphate project Acquired 100% of Business Inc. KH Metallgjuteri Operations Silver producer AB Project Baobab Canada One of the leading zink Eocene-era phosphate Ajax Rolled Ring & foundries in the Nordics rock deposit (1,553km2 Machine Advised on Merger Sweden conc.) Production of forgings Senegal and seamless rolled Advised on Sale of rings Advised the special Company Advisor on the disposal of committee of Scorpio United States a rock phosphate project in Mining Corp as its exclusive Senegal Advised KH Metallgjuteri in Advised on Purchase of advisor in the business their sale to Gjuteriteknik Company combination with U.S. Silver & Gold to complete a LM Abrahamsson AB. KH is Advised Project Baobab (an merger of equals creating engaged in manufacturing affiliate of Agrifos Partners Advised Fomas, leading a junior silver producer with and finishing of die LLC) on the disposal of a rock manufacturer of forgings production facilities in the casted parts in zinc to the phosphate project in Senegal and seamless rolled rings, USA and Mexico. The pro- electronics-, hydraulics-, acquired by Minemakers in the acquisition of 100% of forma market capitalization furniture- and heavy vehicle Limited. The Reverse Ajax Rolled Rings & Machine was valued at $67 million. industries. Triangular Merger involving LLC, another player of the the amalgamation of Baobab same sector based in South Fertilizer Africa, a wholly Carolina, US. owned subsidiary of Baobab Partners and the parent company of Baobab Mining and Chemicals Corporation SA, and Minemakers Baobab Mauritius, a wholly owned subsidiary of Minemakers. 83
Paper and Forest Products
Northern Stamping Godts NV Calucem d.o.o. Deutsche Bank Metal stampings for Sand quarry operator Manufacturer of Bank automotive industry Belgium calcium aluminates Netherlands United States cements Acquired 100% of Business Croatia Provided Additional Acquired 100% of Business Operations Working Capital Acquired 100% of Business Highlands Zandgroeve Operations Koninklijke Diversified Bouillon bvba Boogaerdt B.V. Services, Inc. Owner and operator of Kitapci Madencilik Timber trading Metal stampings for 2 sand quarries Mining company Netherlands telecom industry Belgium engaged in emery United States exploration Advised on the Placement Advised on Sale of Turkey of Debt Advised on Sale of Company Company Advised on Sale of Company Advised Koninklijke Advised Zandgroeve Boogaerdt B.V., a timber Advised Highlands Bouillon bvba, a trading company on the Diversified Services Inc., a construction sand and Advised Kitapci Madencilik, placement of debt in a provider of metal stampings gravel mine operator in leading mining company transaction with Deutsche and complex assemblies Belgium, on its sale to Godts active in emery mine Bank. to the satellite television, NV, a provider of financial production in Turkey, on its automotive, and aerospace investment services, also sale to Calucem, the Crotia- industries, on its sale to a longstanding operator of based calcium aluminate Bear Diversified Inc., parent several sand quarries. cement producer. company of Northern Stamping Inc.
Real Estate
Up to $100M Source: Thomson Reuters 1 PwC 2 KPMG 3 Ernst & Young 4 Duff & Phelps 5 Industrial & Comm Bank China 6 Jones Lang LaSalle Inc 7 CBRE Holding SAS *** 21 IMAP 22 Nomura 23 DC Advisory 86 Real Estate
Non Residential Other Real Estate
Undisclosed Buyer Commerzbank AG Champ Ventures Familienheim Foundation Bank & Yorkway Equity Rhein-Neckar e.G. Germany Germany Partners Housing corporation Private equity groups Germany Acquired 100% of Business Providing Acquisition Australia Operations Funding Acquired 100% of Business Acquired 70% of the Operations GE9e Development Undisclosed Company Darmstadt GmbH Investee von Hauff Property company Commercial company BMT Tax Unternehmens- Germany Germany Depreciation Ltd gruppe Quantity surveyors Housing administration Advised on Sale of Advised on the Placement Australia Germany Company of Debt Advised on Sale of Advised on Sale of GE9e Development Advised an undisclosed Company Company Darmstadt GmbH, a investee on the placement Darmstadt-based provider of debt. Advised BMT Tax Familienheim Rhein-Neckar of land subdivision services, Depreciation Ltd, a quantity eG acquired Von Hauff divested the company to an surveying company, on Immobilien Holding GmbH, undisclosed acquiror. the sale of a 70% stake in a Neubiberg-based provider the company to Champ of land subdivision services. Ventures & Yorkway Equity Partners, a Sydney-based private equity group. 87
Real Estate Management and Development residential
Private investors Canadian Imperial CP Holdings Real estate Bank of Commerce Hotel operator Belgium One of Canada’s United Kingdom chartered banks Acquired 100% of Business Canada Public Purchase offer all Operations registrated ordinary Shares Advised on Obtaining and of the target Company Donum Design Structuring a 10 year, non Property company recourse loan Danubius Hotels Belgium Group Vancouver Hotel operator Advised on Sale of Airport Property Hungary Company Management Inc Acquires building and Financial Advisory leasehold interests Donum Design BVBA, an Canada Antwerp-based provider Advised CP Holdings a UK of interior design services, Advised on Obtaining and based hotel operator on the divested the company to an Structuring Financing public purchase offer all undisclosed acquiror. registrated ordinary shares of the target company, Advised Vancouver Airport Danubius Hotels Group, Authority on obtaining and a Budapest-based hotel structuring financing. operator.
Retail
Up to $200M Source: Thomson Reuters 1 KPMG 2 PwC 3 Sumitomo Mitsui 4 Mizuho Financial Group 5 M&A International 6 Rothschild 7 Deloitte 8 Nomura 9 BDO 10 IMAP 90 Retail
Apparel Retailing Automotive Retailing
Levant Capital Mitsui Matsushima Schakel Utrecht Harley-Davidson Middle East based Coal mining and trading B.V. Inc. private equity firm firm Automotive retailer Global producer of United Arab Japan Netherlands motorcycles Emirates United States Acquired 100% of Business Acquired 100% of Business Acquired Majority Control Operations Operations Acquired 100% of Business of Business Operations Operations Hanabishi-sewing Van Bunningen Panço Suits maker Woerden B.V. Fred Deeley Turkey based Japan Automotive retailer Imports Ltd. manufacturer of Netherlands Canadian distributor children’s wear Advised on Sale of Portfolio of Harley Davidson Turkey Company Advised on Purchase of products Company Canada Advised on Sale of Company Advised Phoenix Capital Advised on Sale of on the sale of its portfolio Advised Schakel Utrecht BV, Company company, Hanabishi- a unit of Schakel Autogroep Advised Panço, Turkey sewing, a suit maker which BV, on the acquisition of the based manufacturer was aquired by Mitsui entire share capital of Van Advised Fred Deeley of children’s wear, in its Matsushima. Bunningen Woerden BV, an Imports Ltd, a Concord- majority stake sale to Alphen Aan Den Rijn-based based motorcycle dealer, on Levant Capital, a Middle new car dealer. its sale to Harley-Davidson East based Private Equity Inc of the US. firm. 91
Discount and Food and Home Department Beverage Improvement Store Retailing Retailing Retailing
SAAEM Adelis Equity Private investor Market Dome Zrt. Car dealership Partners Fund I Private investor Investment firm France International PEG with Belgium Hungary €400 million fund Acquired 100% of Business Sweden Acquired 100% of Business Acquired Commercial Operations Operations Rights Acquired a Majority Stake GMS Groep of the Company Zest Fresh Juice Dyras Kft. Car dealership Bars Household equipment Belgium Puuilo Oy Chain of smoothies distributor DIY discount retailer and juices bars with 11 Hungary Advised on Sale of with 15 stores and locations Company online Belgium Advised on Purchase of the Finland Target’s Commercial Rights Advised on Sale of Advised GMS (General Advised on Purchase of Company Mobility Services NV), a Company Advised Market Dome Zrt, motor vehicle dealer on an investment services the sale of the company to Advised Coral Moon bvba company, on acquiring the holding company SAAEM, Advised the acquiror, Adelis (Zest Fresh Juice Bars) on commercial rights of Dyras located in Seynod, France. Equity Partners Fund I the sale of the company to a Kft, a Budapest-based AB of Sweden, a unit of private investor. wholesaler of household Adelis Equity Partners appliances. AB, on its acquisition of an undisclosed majority interest in Puuilo Oy, a Vantaa-based hardware retailer, from Sentica Partners Oy and the company’s management team, in a secondary buyout transaction. Terms were not disclosed. Originally, Sentica Partners acquired majority interest in Puuilo. 92 Retail
Other Retailing
Miko NV Lloyds Pharmacy Petco Holdings, PNC Riverarch Belgian coffee roaster Group Inc. Capital in the out-of-home Subsidiary of the listed Specialty retailer of pet Private equity group market German entity, Celesio supplies United States Belgium AG United States Ireland Acquired Majority Control Acquired 70% of Business Acquired 100% of Business of Business Operations Operations Acquired 100% of Business Operations Operations Feeders Supply ABC Mokka ApS Doctors Foster and Company, Inc. A leading Danish Medicare Smith 16 store independent provider of vending Pharmacy Group Omni channel pet pet specialty retail chain machines Pharmacy retailer and pharmacy United States Denmark Ireland United States Advised on Sale of Advised on Purchase of Advised on Sale of Advised on Sale of Company Company Company Company
Advised Feeders Supply Co Advised Miko NV on its Advised Medicare Advised Doctors Foster and Inc., a Louisville-based pet acquisition of a 70% stake in Pharmacy Group, a chain of Smith, an omni channel pet store operator, on its sale to ABC Mokka ApS’ business retail pharmacies in Ireland, retailer and pharmacy, on its PNC Riverarch Capital, a unit operations. The acquisition on the 100% disposal of sale to Petco Holdings. of PNC Financial Services is in line with Miko’s long- business operations to Group Inc., in a leveraged term strategy to set up Lloyds Pharmacy Group, a buyout transaction. coffee service organizations subsidiary of listed German through subsidiaries in entity Celesio AG. a growing number of countries. 93
TMT
Up to $200M Source: Thomson Reuters 1 PwC 2 KPMG 3 Ernst & Young 4 Deloitte 5 BDO 6 IMAP 7 M&A International 8 Houlihan Lokey 9 Sumitomo Mitsui 10 Mizuho Financial Group 96 TMT HIGH TECHNOLOGY
Computers E-commerce and Peripherals / B2B Electronics
Advanced Global Three Management and Jorudan Printer Company UK-based investment Private investors Internet application and software developer International holding company Management Japan Limited United Kingdom France Manufacturer and Formed Joint Venture seller of specialized dot Acquired Investment Acquired 100% of Business matrix Interest in Seller’s Business Operations Remunera China Sadeceon.com EMKA Electronic meal voucher system provider Acquired Selected Turkey-based web- ELECTRONIQUE Israel Assets of Seller Business based platform Professionnal electronic Operations connecting service EMS & ODM Advised on formation of JV Turkey France Olivetti Banking Advised on Sale of & Postal Line of Advised on Sale of Advised Remunera, a Company Business Company leading electronic meal MFP printers and benefits service provider scanners for banking & Advised Sadeceon.com in Israel, on establishment postal Advised Emka Electronique, a web-based platform a manufacturer of printed of JV with Jorudan, Italy connecting service circuit assemblies, located Japan-based software/ providers with customers systems developer. The JV Advised on Sale of in Paris on its sale to private in various sectors. Global investors and management. will provide an electronic Company Three Ltd., the UK based meal voucher system based investment holding for corporate clients and restaurants in Japan. Advised on the sale of company. Olivetti’s Banking & Postal line of business specializing in MFP printers and scanners to Advanced Printer Company, a Chinese manufacturer of specialized dot matrix. 97
HIGH TECHNOLOGY
IT CONSULTING Internet Software and Services and Services
The Abraaj Group Shirlaws Capital Netmarble Turkey Campbell Private equity firm Middle East based / MV Holding / Scientific private equity firm United Kingdom Gedik Yatirim Manufacturer of United Arab A group of investment dataloggers, data Provided Growth Funding Emirates companies acquisition Turkey United States Acquired Minority of GameSparks Business Operations Limited Acquired Investment Acquired 100% of Business Backend as a service Interest in Seller’s Business Operations Hepsiburada (BaaS) for game designers Market leader in online Startershub Corobor Systems shopping in Turkey United Kingdom Web-based platform Meteorological Turkey providing services for software publisher and Advised on the Placement startups integrator Advised on Purchase of of Equity Turkey France Company Advised GameSparks Advised on Purchase of Represented the Seller Advised The Abraaj Group, Limited on a Series A Company a Middle East based Private equity funding round. Advised the owner of Equity firm, on its purchase The company offers a Advised Netmarble Turkey / Corobor Systems, a of a minority stake in cloud-based development MV Holding / Gedik Yatirim, Meteorological Software Hepsiburada, the market platform for games a group of investment Publisher and Integrator leader in online shopping in developers enabling them companies, on the based in Paris in selling Turkey. to build all their games purchase of Starttershub, the shares to Campbell server-side. a web-based platform Scientific, a leading that provides services for measurement and control start-ups. products provider based in Utah (USA). With this deal Corobor Systems will be able to address new territories (mainly north America). 98 TMT HIGH TECHNOLOGY
IT CONSULTING and Services
TeliaSonera AB Dustin Group AB Comparex AG Pauwels Telecommunication IT products and Consulting and cloud- Consulting NV operator and IT service solutions reseller based professional ICT consultancy provider Sweden services Belgium Sweden Germany Acquired 100% of the Acquired 100% of the Acquired 100% of the Shares Acquired Majority Control Business Shares of Business Operations Resolute ISMS Oy Pyramid BVBA ict-verstas Oy Supplier of network Dataserv ICT consultancy Virtualization and cloud solutions Information Belgium integration services Finland Technologies Finland Provider of IT Advised on Sale of Advised on Sale of optimization and Company Advised on Sale of Company security solutions Company Turkey Advised Pyramid BVBA a Advised Resolute ISMS Oy Advised on Sale of Belgian IT service provider Advised ict-verstas Oy, one of Finland’s leading Company with a range of prominent providing managed services suppliers of network customers in Belgium, on its to business customers on solutions on its sale to sale to Pauwels Consulting its sale to to TeliaSonera Dustin Group AB. Dustin Advised Dataserv NV the Belgian consulting AB, the dominant telephone Group is one of the leading Information Technologies, firm with offices in Belgium, company and mobile Nordic resellers of IT a company specializing in France, Germany and network operator in Sweden products and additional the fields of IT Security and Switzerland. With this and Finland. services to companies, the Optimization, on its majority acquisition, Pauwels public sector and private stake sale to Comparex AG, Consulting is strengthening individuals. one of the world’s leading its position as IT service global IT companies. provider on the Belgian market. 99
HIGH TECHNOLOGY
other High Technology Software
Undisclosed Bayern LB ePassi Payments Oy Active Network Family office Bayern LB is one of Mobile employee benefit Leader in activity Germany the largest finance tech & service provider and participant institutions in Germany Finland management Provided Growth Funding Germany United States Acquired Majority Control saascom GmbH Provided Working Capital of Business Operations Acquired 100% of Business Provider of software Facility Operations solutions Min Friskvård Germany Via optronics Sverige AB IPICO Inc. GmbH Mobile employee benefit Global provider of race Advised on the Placement Leading provider tech & service provider timing technology of Debt of optical bonding Sweden Canada solutions Germany Advised on Purchase of Advised on Sale of Advised saascom Gmbh, Company Company a provider of software Advised on the Placement solutions on the placement of Debt of debt in a transaction with Advised ePassi Payments Acted as exclusive financial an undisclosed buyer. Oy, the largest mobile advisor to the shareholder Advised on the placement payment system provider of IPICO Sports on its sale of debt in a transaction with for employee benefits in the to ACTIVE Network. The Bayern LB, one of the largest Nordic countries, to acquire integration of IPICO will finance institutions in a majority of the shares in expand on ACTIVE’s real- Germany, and Via optronics Swedish firm Min Friskvård time, on-site capabilities and Gmbh, a leading provider of Sverige AB. Min Friskvård provide a comprehensive optical bonding solutions. Sverige is one of Sweden’s solution that includes biggest payment system timing, data, analytics, and providers for personnel insights that are needed benefits. Due to the by Timing Managers acquisition, ePassi will be and Event Organizers to able to serve both Finnish make business decisions, and Swedish companies increase participation, and better as payment methods drive growth of their events. for employee benefits can be concentrated with one supplier. 100 TMT HIGH TECHNOLOGY
Software
CSID - SEPTEO FIDUCIAL Waud Capital CJ Games Attorney and notary INFORMATIQUE Partners Online development solutions provider Multi sector IT services Private equity firm unit of CJ E&M (software) for SME United States Korea, Democratic France France People’s Republic of Recapitalization with Seller Acquired 100% of Business Acquired Selected Acquired Majority Control Operations Assets of Seller Business CyberGrants, Inc. of Business Operations Operations Develops & markets Office & SaaS platform for SHR Group Communications I’CAR SYSTEMS corporations Online game publishing Notary solutions R2-R3 United States company provider (software) OPERATIONS Turkey Belgium Automotive dealer and Advised Client on repairer mgt software Recapitalization Advised on Sale of Advised on Sale of France Company Company Advised on Sale of CyberGrants, Inc. Company (“CyberGrants”) has been Advised SHR Group, the Advised on the sale of a advised on a significant regional broadcast right notary solutions software growth equity investment holder of popular games, provider in Belgium to CSID Advised the company I’CAR from Waud Capital to sell its 50% shares to CJ - SEPTEO, a French-based SYSTEMS, a software Partners, LLC. Capstone Games, a subsidiary of CJ software provider. publisher owned by the Partners acted as financial Group, one of the largest PEG, ARGOS SODITIC, in the advisor to CyberGrants holding companies in South sale of its R2/R3 operations on this transaction, the Korea. (dedicated to car repairers terms of which were not and repair workshops) to disclosed. Founded in 1999, FIDUCIAL INFORMATIQUE, CyberGrants is the leading a leading software publisher provider of software-as-a- for SME’s. service (SaaS) solutions supporting employee engagement, grant management and corporate social responsibility. 101
HIGH TECHNOLOGY
CJ Games Management Buy Vitec Software Undisclosed Buyer Online development Out Team Group AB Financial holding unit of CJ E&M Machine vision and Industry-specific France Korea, Democratic video surveillance business systems People’s Republic of Belgium Sweden Acquired Investment Interest in Seller’s Business Acquired Majority Control Acquired 100% of Business Acquired 100% of Business of Business Operations Operations Operations QUALIAC ERP software publisher Joy Game Euresys Norwegian France Online game publishing Machine vision and Insurance company. video surveillance Computer Other Turkey Belgium Environment AS Industry-specific Advised QUALIAC, an ERP Advised on Sale of Advised on Sale of software for insurance software provider, on selling Company Company companies an investment interest. Norway Advised Joy Game, top Advised Euresys one of Advised on Purchase of multiplayer online game and the leading providers Company entertainment company of video acquisition according to number of and image processing active members, to sell its components for machine Advised Vitec Software 50% stake to CJ Games, vision on a management Group AB, a software a subsidiary of CJ Group, buy out process. Euresys company that offers one of the largest holding has been acquired by a industry specific business companies in South Korea. new holding company applications on the Upon completion of this controlled by the existing Nordic market, to acquire transaction CJ Games management team. The 100% of the Norwegian became the sole owner of acquisition includes the software company Nice Joygame. company’s headquarters AS, whose product is an in Liège (Belgium) as well industry-specific software as the offices in Singapore for insurance companies and San Juan Capistrano in Norway, Denmark and (CA, USA). Sweden. 102 TMT HIGH TECHNOLOGY media and entertainment
Software
Undisclosed Buyer Medtech Danlaw Inc Newton Media a.s. Undisclosed buyer Leading Moroccan Automative software Media monitoring United States operator in the IT sector and engineering and media analysis Morocco services company Acquired Investment United States Czech Republic Interest in Seller’s Business Acquired Minority Stake Acquired 100% of Business Acquired 51% of the Shares Project Covenant S2M Operations Web software for Leading Moroccan MCA Grupa d.o.o. contract generation operator in the Rapita Systems Media monitoring Canada epayment sector Ltd and media analysis Morocco Embedded software company Advised on Recapitalization testing tools Slovenia of Company Advised on Sale of a United Kingdom Minority stake in the Advised on Sale of Company Advised on Sale of Company Advised on recapitalization Company of Project Covenant. Advised S2M the leading Advised Pristop Skupina electronic money solution Advised Rapita Systems d.o.o., headquartered provider in Morocco, Ltd., the leading provider in Ljubljana on sale of listed on the Casablanca of real-time verification its 51% share in MCA Stock Exchange on its solutions for aerospace Grupa to Newton Media minority stake (32%) sale and automotive embedded a.s., the leading media to MedTech, Morocco’s systems, on its sale to monitoring provider in CEE, leading IT business system Danlaw Inc., a global headquartered in Prague. integrator. Through its connected vehicle, acquisitions and continued automotive electronics and focus on R&D, MedTech embedded engineering aims to become a major enterprise. With the player in the rapidly growing integration of Rapita Fintech industry in Africa. products, Danlaw has strengthened its portfolio of embedded software tools to include on-target testing. 103 media and entertainment
Other Media and Advertising and Marketing CABLE Entertainment
R2i Services GSP Marketing Institutional Otavamedia Oy / Facility services Technologies, Inc. Investors Otava Group France Retail branding and Mutual funds and Publishing and media marketing others corporation Acquired 100% of the United States India Finland capital of Acquired Business Provided Growth Funding Acquired 100% of the PEOPLE Operations Shares COCCINELLE Siti Cable Network Modeling agency Great Big Pictures, Ltd. MCI Press Py France Inc. MSO and cable TV Content marketing Delivers printing, operator agency Advised on Sale of propping and visual India Finland Company fixturing United States Advised on Placement of Advised on Sale of Equity Company Advised People Coccinelle Advised on Purchase of a modeling agency, on the Company sale of its capital to R2i Advised Siti Cable Network Advised MCI Press Services, a facility services Ltd on the placement of Oy constructing one provider based in France. Advised GSP Marketing equity in a transaction with of Finland’s leading Technologies, a retail Institutional Investors. multichannel content services provider located marketing companies, on in Clearwater, to purchase its sale to Otavamedia Oy. all of the assets of the The new MCI Press Oy’s Madison, Wisconsin-based, offering consists of versatile large-format graphics multichannel content production lab, Great Big marketing services such Pictures (GBP), resulting in as print, newsletter, video, a strategic merger of two webcast and social media leaders in retail marketing services. and store-level execution. 104 TMT media and entertainment TELECOMMUNICATIONS
Telecommunica- Publishing tions EQUIPMENT
Mlada Fronta Sequedge EckStream B.V. Magnet Networks Leading Czech print and Investment Inc. Holding company Leading web publishing house Japan-based boutique Netherlands telecommunications Czech Republic investment firm provider to Irish SMEs Japan Acquired 100% of the Ireland Acquired 100% of Business Shares Operations Acquired a majority Acquired the Retail shareholding as a means of Micro Business Division of Finance Media a.s. restructuring Elektronische Finance oriented web Producten B.V. Imagine portals publisher Jitsugyo no Nihon Supplier of voice Communications Czech Republic Sha, Ltd. communication Group One of the oldest systems Telecommunications Advised on Sale of Japanese publishing Netherlands provider to Irish SMEs Company company Ireland Japan Advised on Purchase of Company Advised on Purchase of Advised Finance Media a.s., Provided Restructuring Company an internet portal operator Advisory Service on its sale to Mlada Fronta Advised EckStream B.V. a.s.,the best-selling Czech On the purchase of Micro Advised Magnet Networks, broadsheet newspaper. Sequedge Investment Inc Elektronische Producten offerring a range of Mlada’s services include acquired an undisclosed B.V., a supplier of voice broadband, wi-fi, voice and publishing books, minority stake in Jitsugyo communication systems. cloud telephony solutions magazines, newspapers no Nihon Sha Ltd, a Chuo- along with cyber security and other miscellaneous Ku, Tokyo-based publisher and managed services, on publishing. Mlada was of books and magazines, its purchase of the Irish founded in 1945. in a privately negotiated retail business division of transaction. IMAP advised Imagine Communications Jitsugyo no Nihon Sha, Ltd. Group. Magnet becomes the third largest provider of business telecoms in Ireland, doubling its customer base to 11,000 SMEs and corporates following the transaction. 105
TELECOMMUNICATIONS
Telecommunications Services WIRELESS
Site Service QUANTUM QUANTUM NetByNet Holding AS CAPITAL CAPITAL Broadband internet Management holding PARTNERS PARTNERS provider company Vulture fund Vulture fund Russia Norway Germany Germany Acquired 100% of Business Facilitated MBO and Credit Acquired 100% of Business Acquired 100% of Business Operations Facilities Operations Operations Advantage Site Service AS Undisclosed Seller EERT Telecom Build and maintain Professional telephony, Professional telephony, Broadband internet mobile and telecom information systems information systems provider network France France Russia Norway Advised on Sale of Advised on Sale of Advised on Sale of Advised on the Placement Company Company Company of Debt and Equity
Advised on the sale of an Quantum Capital Advised the shareholders Advised Site Service AS, a undisclosed company to Partners AG of Germany of Advantage Telecom, company involved in the Quantum Capital Partners, a acquired Eiffage Energie the leading broadband build and maintenance of German vulture fund. Reseaux & Telecom operator in Dmitrov city mobile and telecom network SASU and Eiffage Energie (Moscow region), during in Norway, on the placement Communications Reseaux the sale to NetByNet, the of debt and equity. & Securite SA, providers fixed broadband business of telecommunications of Megafon, a top-3 Russian services, from Eiffage telecom company. Energie SASU, in a leveraged buyout transaction.
IMAP
The world’s leading global M&A partnership since 1973
www.imap.com