M&A Deal Summary

KKR, White Deer Energy and Ardian Acquire Acteon

On October 1, 2012, private equity firms KKR, White Deer Energy and Ardian acquired energy services and equipment company Acteon from First Reserve

Acquisition Highlights
  • This is KKR’s 3rd, White Deer Energy’s 5th and Ardian’s 6th transaction in the Energy Services and Equipment sector.
  • This is KKR’s 5th, White Deer Energy’s 1st and Ardian’s 12th transaction in the United Kingdom.
Investment Fate
  • Acteon was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2012-10-01
Target Acteon
Sector Energy Services and Equipment
Buyer(s) KKR
White Deer Energy
Ardian
Sellers(s) First Reserve
Deal Type Secondary Buyout
Advisor(s) J.P. Morgan Securities
Simmons & Company (Financial)

Target

Acteon

Norwich, United Kingdom
website
Acteon is a global oilfield services provider focusing on the provision of subsea services and products. Acteon was founded in 1989 and is based in Norwich, United Kingdom.

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Buyer(S) 3

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 116 of 429
Sector (Energy Services and Equipment) 3 of 11
Type (Secondary Buyout) 17 of 103
Country (United Kingdom) 5 of 23
Year (2012) 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-14 Sunrise Senior Living

McLean, Virginia, United States

Sunrise Senior Living, Inc. offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing and rehabilitative services.

Buy $845M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-23 Alliant Insurance Services

Newport Beach, California, United States

Alliant Insurance Services is a retail insurance broker providing property and casualty insurance and employee benefits products to over 15,000 commercial middle market clients nationwide. Alliant Insurance Services was founded in 1925 and is based in Newport Beach, California.

Buy -
Buyer

White Deer Energy

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2008
PE ASSETS 2.7B USD
Size Large
Type Sector Focused
DESCRIPTION

White Deer Energy is a specialist private equity investment group focused on the energy sector. White Deer targets equity investments of $25 to $100 million in companies active in oil and gas production, oil service and equipment manufacturing and midstream infrastructure. Prospective transaction situations include companies in need of capital for growth, companies with follow-on opportunities, or management teams looking to continue to operate their companies. The Firm prefers control or co-control positions. White Deer Energy was formed in 2008 and has offices in Houston, Texas and New York, New York.


DEAL STATS #
Overall 6 of 25
Sector (Energy Services and Equipment) 5 of 16
Type (Secondary Buyout) 1 of 4
Country (United Kingdom) 1 of 1
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-16 Midstream Texas

Houston, Texas, United States

Midstream Texas is a midstream infrastructure platform focused on building and operating crude oil and refined product terminals, initially on the Gulf Coast. The Company’s initial asset is a refined products terminal in Ingleside, Texas, near the Port of Corpus Christi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-10 Fiberspar

Houston, Texas, United States

Fiberspar Corp. is a provider of energy services to oil and gas industry with a family of products to address the market requirements for a reliable, corrosion-resistant, cost-effective solution for tubulars used during the production and transportation of oil and gas.

Sell -
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 193 of 416
Sector (Energy Services and Equipment) 6 of 10
Type (Secondary Buyout) 52 of 135
Country (United Kingdom) 12 of 25
Year (2012) 18 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-27 Bruni Glass

Milan, Italy

Bruni Glass SPA is a manufacturer of glass containers for wine, champagne, food and pharmaceutical products. Bruni’s primary markets are Italy and the key Western economies. Bruni Glass is headquartered in Milan and the company has other sites in Italy (Turin and Verona), the US and Canada. The Group offers a range of more than 3000 standard, speciality and personalised products. Satisfying these diversified customer requirements with a continuous emphasis on research and development can only be achieved by finding the correct balance between product innovation, stock availability and pricing strategy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-10 Insight Global

Atlanta, Georgia, United States

Insight Global is a provider of employment solutions to Fortune 500 customers across the United States and Canada. Insight Global provides long-term, short-term, temporary-to-permanent, placement staffing, and enhanced staffing services. Insight Global was founded in 2001 and is based in Atlanta, Georgia.

Sell -

Seller(S) 1

SELLER

First Reserve

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 32 of 54
Sector (Energy Services and Equipment) 13 of 19
Type (Secondary Buyout) 2 of 6
Country (United Kingdom) 3 of 4
Year (2012) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-01 Caliber Midstream Partners

Denver, Colorado, United States

Caliber Midstream Partners, LP is a provider of a full-service pipeline solution to producers for oil, natural gas, produced water and freshwater in the Williston Basin of North Dakota, the region encompassing the Bakken shale.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Templar

Oklahoma City, Oklahoma, United States

Templar is an oil and natural gas exploration and production company primarily focused on investing in the Mid-Continent Region of the U.S., while also evaluating opportunities outside the region which fit its economic criteria. Templar primarily targets mature well-understood regions that are liquids-rich, have stacked multiple development pay zones, and are expected to offer attractive full-cycle development returns. Templar’s executive management team has diverse experience, with core competencies in horizontal drilling and multi-stage completion techniques, having drilled hundreds of horizontal wells in the Mid-Continent Region.

Buy -