M&A Deal Summary

Hutton Collins Partners, Crescent Capital Group, Intermediate Capital Group and Charterhouse Capital Partners Acquires Coral Group Holdings .

On August 3, 2002, private equity firm Hutton Collins Partners LLP, mezzanine finance firm Crescent Capital Group LP, mezzanine finance firm Intermediate Capital Group (ICG) and private equity firm Charterhouse Capital Partners acquired gaming company Coral Group Holdings Plc. for 860M GBP

Acquisition Highlights
  • This is Hutton Collins Partners’ 1st, Crescent Capital Group’s 1st, Intermediate Capital Group’s 2nd and Charterhouse Capital Partners’ 1st transaction in the Gaming sector.
  • This is Hutton Collins Partners’ 0th, Crescent Capital Group’s 5th, Intermediate Capital Group’s 11th and Charterhouse Capital Partners’ 5th largest (disclosed) transaction.
  • This is Hutton Collins Partners’ 1st, Crescent Capital Group’s 1st, Intermediate Capital Group’s 37th and Charterhouse Capital Partners’ 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2002-08-03
Target Coral Group Holdings Plc.
Sector Gaming
Buyer(s) Hutton Collins Partners LLP
Crescent Capital Group LP
Intermediate Capital Group (ICG)
Charterhouse Capital Partners
Deal Type Secondary Buyout
Deal Value 860M GBP

Target

Coral Group Holdings Plc.

London, United Kingdom
website
Coral Eurobet is a provider of off-track betting services in the UK.

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Buyer(S) 4

Buyer

Hutton Collins Partners LLP

London, United Kingdom

Investor Investor Investor

website


Category Private Equity Firm
Founded 2007
PE ASSETS 2.0B EUR
SizeLarge
Type Sector Agnostic
DESCRIPTION

Hutton Collins is a UK-based investor in established, profitable, mid-sized Western European businesses. Hutton invests mezzanine, preferred, and minority equity capital to support buyouts, acquisition financings, expansions, restructurings, and shareholder liquidity needs. Hutton generally invests €35 to €100 million in businesses valued between €100 and €500 million. The Firm has particular interest in opportunities throughout Spain, France, and Italy. Hutton is a generalist investor and has deep expertise in business services, leisure, healthcare, and financial services. Hutton Collins is based in London.


DEAL STATS #
Overall 2 of 25
Sector (Gaming) 1 of 1
Type (Secondary Buyout) 1 of 6
Country (United Kingdom) 1 of 15
Year (2002) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-29 Telediffusion de France S.A

Paris, France

Telediffusion de France S.A. engages in the operation and provision of audiovisual, mobile phone, and broadband services to radio and television operators, telecoms operators, and local communities in Europe. It also involves in the video shooting; analog/digital television and radio broadcasting; and the deployment, maintenance, and management of telecom networks.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 Pizzaexpress (Restaurants) Ltd.

Uxbridge, United Kingdom

PizzaExpress was a popular brand and a market leader in the UK casual dining sector. It operated in the premium/authentic sector of the eat-in pizza/pasta market, in a variety of locations across the UK.

Buy -
Buyer

Crescent Capital Group LP

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $25 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 20 of 63
Sector (Gaming) 1 of 1
Type (Secondary Buyout) 4 of 22
Country (United Kingdom) 1 of 5
Year (2002) 5 of 8
Size (of disclosed) 5 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-01 VeriFone Systems, Inc.

San Jose, California, United States

VeriFone Systems, Inc. is a provider of secure electronic payment technologies. VeriFone provides solutions, services, and expertise that enable electronic payments. The Company's products and services include mobile, countertop and self-service payment devices, software, and web-based gateways. VeriFone Systems, Inc. is headquartered in San Jose, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-08-22 Brand Industrial Services, Inc.

Kennesaw, Georgia, United States

BrandSafway is a provider of specialized services to the global energy, industrial, and infrastructure markets. Its range of service offerings includes work access, corrosion management, atmospheric and immersion coatings, insulation services, fireproofing and refractory, mechanical services, forming and shoring, and other complementary specialty services. Brand delivers its services through a network of more than 370 branches on six continents, with a focus on the major hydrocarbon and power generation markets globally. BrandSafway was founded in 1919 and is based in Kennesaw, Georgia.

Buy $500M
Buyer

Intermediate Capital Group (ICG)

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 27.2B EUR
SizeMega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 83 of 276
Sector (Gaming) 2 of 3
Type (Secondary Buyout) 6 of 106
Country (United Kingdom) 37 of 76
Year (2002) 9 of 15
Size (of disclosed) 11 of 80
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-25 Halfords Group plc

Redditch, United Kingdom

Halfords Group is an entity which manages its business in the United Kingdom (UK) and the Republic of Ireland (ROI) and its product ranges are marketed through a national network of stores and through an innovative multi-channel offer which combines website promotion with direct delivery or collection from store, backed up by in-store services. Halfords Group was founded in 1892 and is based in Redditch, the United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-09-01 SAB Wabco Group AB

Staffordshire, United Kingdom

Sab Wabco specializes in the design, manufacture and marketing of brake systems, wheels and couplings for the railway industry.

Buy -
Buyer

Charterhouse Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1934
PE ASSETS 4.1B EUR
SizeMega
Type Sector Agnostic
DESCRIPTION

Charterhouse Capital Partners is a large private equity firm specializing in buyouts of European industrial and commercial service companies. The Firm primarily seeks opportunities in Western Europe and the UK. Charterhouse focuses on profitable companies led by experienced management valued from €200 million to €1.5 billion. Specific areas of interest include business services, chemicals, engineering, leisure, transport and logistics. Charterhouse Capital Partners was formed in 1934 and is based in London.


DEAL STATS #
Overall 2 of 45
Sector (Gaming) 1 of 1
Type (Secondary Buyout) 1 of 25
Country (United Kingdom) 2 of 18
Year (2002) 1 of 1
Size (of disclosed) 5 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-01 Intertek Group plc

London, United Kingdom

Intertek provides global testing, inspection and certification services. Intertek was founded in 1885 and is based in London, the United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-17 Autobar Group Ltd.

London, United Kingdom

Autobar Group is one of Europe’s most dynamic vending organisations. Autobar supplies and operates hot and cold drink vending machines and ingredients, as well as snack and food vending machines, together with providing fully operated managed services and technical support.

Buy €850M