M&A Deal Summary

Värde Partners and Lloyds TSB Development Capital Acquire Equiom

On September 16, 2013, asset manager Värde Partners and private equity firm Lloyds TSB Development Capital acquired financial services company Equiom from Livingbridge

Acquisition Highlights
  • This is Värde Partners’ 2nd and Lloyds TSB Development Capital’s 4th transaction in the Financial Services sector.
  • This is Värde Partners’ 2nd and Lloyds TSB Development Capital’s 135th transaction in the United Kingdom.

M&A Deal Summary

Date 2013-09-16
Target Equiom
Sector Financial Services
Buyer(s) Värde Partners
Lloyds TSB Development Capital
Sellers(s) Livingbridge
Deal Type Secondary Buyout

Target

Equiom

Douglas, United Kingdom
website
Equiom is a global professional services provider, offering end-to-end wealth protection and support services to private clients, corporate clients and funds. Equiom was founded in 1978 and is based in Douglas, United Kingdom.

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Buyer(S) 2

Buyer

Värde Partners

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1993
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Värde Partners is a global alternative investment advisor and firm focused on a variety of strategies. Värde will consider a broad array of investments including corporate assets and sovereign debt, residential mortgages, real estate, specialty finance, transportation, infrastructure, and logistics. Värde Partners was formed in 2000 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 2 of 16
Sector (Financial Services) 2 of 11
Type (Secondary Buyout) 2 of 2
Country (United Kingdom) 2 of 3
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-13 EuroAvionics Holding

Pforzheim, Germany

EuroAvionics is a manufacturer of civil certified systems for helicopters and airplanes. The Company was founded in 1993 and has since developed into a modern aerospace supplier.EuroAvionics is headquartered in Pforzheim. The Company employs an international team of more than 40 highly qualified IT and development professionals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Deephaven Mortgage

Charlotte, North Carolina, United States

Deephaven Mortgage LLC is a provider of private-capital liquidity for Non-QM residential mortgage loans. These loans are responsibly made to the millions of borrowers who are unable to obtain a traditional government-financed mortgage. Deephaven Mortgage is based in Charlotte, North Carolina.

Buy -
Buyer

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 141 of 292
Sector (Financial Services) 4 of 7
Type (Secondary Buyout) 23 of 56
Country (United Kingdom) 135 of 282
Year (2013) 13 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-10 AIM Altitude

Dorset, United Kingdom

AIM Altitude is dedicated to the design and manufacture of precision made lightweight interiors for the aerospace industry. AIM Aviation designs, engineers and manufactures cabin interiors for the world’s major airlines on Airbus, Boeing and military aircraft, from its base in the UK.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 ModelZone

Lancing, United Kingdom

Modelzone offers a broad range of high-quality models including plastic kits, die cast collectibles, remote control vehicles, railways and slot racing. The company is a niche retailer in a highly fragmented sector, which caters for both the casual shopper and dedicated collector alike, Modelzone operates from 29 stores across the UK. Outlets include Bluewater, Lakeside, Metro Centre, The Trafford Centre and Meadowhall, as well as stores in major cities such as London, Liverpool, Manchester, Nottingham and Leeds.

Sell -

Seller(S) 1

SELLER

Livingbridge

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1995
PE ASSETS 1.6B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Livingbridge is a UK-based investment group focused on investing in and growing mid-sized companies. The Firm targets businesses seeking £5 to £100 million of capital. Prospective companies should have 'ambitious mangement', scalable business models, and potential for market leadership. Sectors of interest include technology, media, communications, consumer products/services, healthcare, and education. Livingbridge was formed in 1995 and is based in London.


DEAL STATS #
Overall 38 of 96
Sector (Financial Services) 2 of 5
Type (Secondary Buyout) 11 of 41
Country (United Kingdom) 35 of 88
Year (2013) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 Key Travel

Manchester, United Kingdom

Key Travel is a provider of travel management services to not-for-profit, academic, and faith sectors. Key Travel was established in 1980 and is based in Manchester, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-07 On the Beach Group

Manchester, United Kingdom

On the Beach Group is an online retailer of beach holidays. On the Beach Group was founded in 2003 and is based in Manchester, the United Kingdom.

Sell £73M