M&A Deal Summary

MCH Private Equity, Ardian and Cerea Partenaire Acquire Palacios

On April 10, 2019, private equity firms MCH Private Equity, Ardian and Cerea Partenaire acquired food company Palacios from The Carlyle Group

Acquisition Highlights
  • This is MCH Private Equity’s 4th, Ardian’s 12th and Cerea Partenaire’s 17th transaction in the Food sector.
  • This is MCH Private Equity’s 19th, Ardian’s 11th and Cerea Partenaire’s 1st transaction in Spain.

M&A Deal Summary

Date 2019-04-10
Target Palacios
Sector Food
Buyer(s) MCH Private Equity
Ardian
Cerea Partenaire
Sellers(s) The Carlyle Group
Deal Type Secondary Buyout

Target

Palacios

Albelda de Iregua, Spain
website
Palacios is a Spanish private food company in the chilled & ready meals market. Palacios Food has a full portfolio of dry goods under Gallo's own brand or distribution brands. Gallo also makes fresh products (fresh pasta and fresh sauces). Palacios was founded in 1960 and is based in Albelda de Iregua, Spain.

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Buyer(S) 3

Buyer

MCH Private Equity

Madrid, Spain

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 850M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

MCH Private Equity is a private investment firm focused on mid-sized opportunities in Spain and Portugal. MCH invests in businesses exhibiting growth potential (organic/add-on), ability to improve operating margins, and consistent cash-flows. MCH is a generalist investor, however the Firm has a strong interest in sectors/markets undergoing consolidation. The Firm's target investment size is €15 to €45 million. MCH was formed in 1998 and is based in Madrid.


DEAL STATS #
Overall 21 of 24
Sector (Food) 4 of 5
Type (Secondary Buyout) 3 of 3
Country (Spain) 19 of 22
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-12 Jeanologia

Valencia, Spain

Jeanologia is a maker of denim manufacturing equipment. Jeanologia focuses on technologies that lower the usage of chemicals and waters in the making of jeans. Jeanologia was founded in 1994 and is based in Valencia, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-03 Prosur S.A.

San Ginés, Spain

Prosur offers natural solutions such as antioxidants, flavors, and colors to the meat, poultry, and fish industry. It also offers clean label solutions in the fight against pathogens such as Listeria, Salmonella, E. coli. Prosur was formed in 1965 and is based in San Ginés, Spain.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 341 of 416
Sector (Food) 12 of 15
Type (Secondary Buyout) 110 of 135
Country (Spain) 11 of 17
Year (2019) 13 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 LindFast Solutions Group

Blaine, Minnesota, United States

LindFast Solutions Group is a master distributor of specialty fasteners in the North American market serving a broad base of national, regional, and local distribution customers through its metric (Lindstrom) and imperial (Stelfast) product brands. LindFast Solutions is based in Blaine, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-08 Zayo

Boulder, Colorado, United States

Zayo is a provider of bandwidth infrastructure and network neutral colocation and interconnection services. Zayo's services allow its customers, which include telecom carriers, wireless service providers, media and content companies, and other bandwidth-intensive businesses, to transport data, voice, video, and internet traffic, as well as to interconnect their networks. Zayo was founded in 2007 and is based in Boulder, Colorado.

Buy $14.3B
Buyer

Cerea Partenaire

Neuilly sur Seine, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

Cerea Partenaire is a specialist investment firm dedicated to buyouts and providing mezzanine financing in agribusiness and related sectors. Céréa Gestion consists of Céréa Capital (private equity practice) and Céréa Mezzanine (mezzanine practice). Céréa primarily targets companies in Western Europe and looks to invest €5 to €15 million in companies with enterprise values of €30 to €500 million. Specific areas in agribusiness include services, distribution, equipment, packaging, logistics, and health services. Prospective transaction situations includes LBOs, LBIs, OBOs, and spin offs. Cerea Partenaire is based in Paris.


DEAL STATS #
Overall 38 of 52
Sector (Food) 17 of 20
Type (Secondary Buyout) 14 of 19
Country (Spain) 1 of 1
Year (2019) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-30 La Comtoise

Louhans, France

La Comtoise develops and supplies tailor-made cheese solutions which are integrated into prepared foods such as breaded escalopes (cordons bleus), grilled ham and cheese sandwiches (croque-monsieur), sandwiches and hamburgers. La Comtoise was formed in 1994 and is based in Louhans, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Areas España

Paris La Défense Cedex, France

Areas España engages in the travel catering and retail industry. Areas welcome 330 million customers each year in 2,000 restaurants and points of sale in 13 countries, throughout Europe as well as in the USA, Mexico, and Chile.

Buy -

Seller(S) 1

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 363 of 443
Sector (Food) 5 of 7
Type (Secondary Buyout) 82 of 114
Country (Spain) 7 of 8
Year (2019) 9 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-10 Athena Art Finance

New York, New York, United States

Athena Art Finance Corp. is a specialty finance lender, dedicated to providing loans collateralized by fine art. Athena offers a full-service platform focused on debt origination, portfolio management and distribution of art-backed credit risk globally. Athena Art Finance Corp. was formed in 2015 and is based in New York.

Sell $170M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-11 Vereinigte Wirtschaftsdienste

Amsterdam, Germany

Vereinigte Wirtschaftsdienste GmbH (VWD Group) is a provider of software solutions. With its intuitive solutions on a modular technology platform, vwd empowers wealth management and investment professionals to make smarter, more efficient and regulatory-compliant investment decisions.

Sell -