M&A Deal Summary

The Carlyle Group and CVC Capital Partners Acquire CFGI

On March 1, 2018, private equity firms The Carlyle Group and CVC Capital Partners acquired business services company CFGI from Flexpoint Ford

Acquisition Highlights
  • This is The Carlyle Group’s 29th and CVC Capital Partners’ 11th transaction in the Business Services sector.
  • This is The Carlyle Group’s 297th and CVC Capital Partners’ 26th transaction in the United States.
  • This is The Carlyle Group’s 12th and CVC Capital Partners’ 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2018-03-01
Target CFGI
Sector Business Services
Buyer(s) The Carlyle Group
CVC Capital Partners
Sellers(s) Flexpoint Ford
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc.
Stifel, Nicolaus & Co., Inc. (Financial)
Nelson Mullins Riley & Scarborough
Kirkland & Ellis (Legal)

Target

CFGI

Boston, Massachusetts, United States
website
CFGI is a unique and highly specialized financial consulting firm that is strategically positioned to help companies through a range of routine and complex business scenarios. CFGI works alongside your internal staff, serving in a variety of roles – from technical accounting advisor to M&A support to Controller or CFO – and delivering seamless support services. CFGI was formed in 2000 and is based in Boston, Massachusetts.

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Buyer(S) 2

Buyer

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 606 of 695
Sector (Business Services) 29 of 35
Type (Secondary Buyout) 93 of 125
State (Massachusetts) 12 of 13
Country (United States) 297 of 336
Year (2018) 2 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-20 Sniffers

Balen, Belgium

Sniffers is a provider of fugitive emission monitoring and related services to the oil & gas industries outside the US, with a strong market position in Europe and the Middle East.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-05 HCR ManorCare

Toledo, Ohio, United States

HCR ManorCare Inc. is an owner and operator of skilled nursing facilities and assisted living facilities in the U.S.

Sell -
Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 220 of 319
Sector (Business Services) 11 of 17
Type (Secondary Buyout) 48 of 74
State (Massachusetts) 2 of 2
Country (United States) 26 of 42
Year (2018) 3 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-01 Thermamex

London, United Kingdom

Theramex is a global specialty pharmaceutical company dedicated to women and their health. The Company markets a broad range of branded and branded generic products across 50 countries around the world. The portfolio, which is dedicated to women's health, focuses on contraception, fertility, menopause and osteoporosis and includes key brands such as Ovaleap®, Zoely®, Seasonique®, Actonel®, Estreva® and Lutenyl®. Thermamex is based in London, United Kingdom.

Buy $703M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-21 Sky Betting & Gaming

Leeds, United Kingdom

Hestview Ltd. is a provider of an online betting and gaming including SkyBet, SkyVegas, Soccer Saturday Super6 and Sky Sports Fantasy Football. Hestview was founded in 2011 and is based in Leeds, United Kingdom.

Sell $4.7B

Seller(S) 1

SELLER

Flexpoint Ford

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 7.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Flexpoint Ford is a private equity firm focused on investments in healthcare and financial services companies. Flexpoint prefers control based investments and looks to commit $50 to $500 million per transaction. The Firm is flexible when it comes to investment structure and asset class. Flexpoint Ford was formed in 2005 and is based in Chicago, Illinois.


DEAL STATS #
Overall 13 of 21
Sector (Business Services) 1 of 3
Type (Secondary Buyout) 4 of 5
State (Massachusetts) 2 of 2
Country (United States) 13 of 21
Year (2018) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 FF Life Settlements Designated Activity Company

Dublin, Ireland

FF Life Settlements Designated Activity Company invests in life settlements portfolios. The portfolios represent a pool of life insurance policies. The Company pays the premiums and expenses to keep the life insurance policies in force and is the beneficiary of the related proceeds. FF Life Settlements Designated Activity Company is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-07 Dash Financial Technologies

New York, New York, United States

Dash Financial Technologies LLC is a provider of options and equities agency execution services to both buy-side and sell-side institutions. Dash offers a variety of software tools for traders, a regulatory technology suite, and various data/analytics offerings. Through the Dash platform, clients can devise bespoke routing and algorithmic strategies calibrated to their precise execution objectives, with Dash’s trade desk acting as a consultative guide during this process. Dash Financial Technologies LLC was founded in 2009 and is based in New York City.

Buy -