M&A Deal Summary

Charterhouse Capital Partners Acquires Tes Global

On May 14, 2007, private equity firm Charterhouse Capital Partners acquired software company Tes Global from Exponent Private Equity, Intermediate Capital Group and European Capital for 235M GBP

Acquisition Highlights
  • This is Charterhouse Capital Partners’ 1st transaction in the Software sector.
  • This is Charterhouse Capital Partners’ 27th largest (disclosed) transaction.
  • This is Charterhouse Capital Partners’ 8th transaction in the United Kingdom.
Investment Fate
  • Tes Global was sold to a consortium of financial buyers in 2013 for 400M GBP.
  • Tes Global was sold to a consortium of financial buyers in 2018.
  • Tes Global was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2007-05-14
Target Tes Global
Sector Software
Buyer(s) Charterhouse Capital Partners
Sellers(s) Exponent Private Equity
Intermediate Capital Group
European Capital
Deal Type Secondary Buyout
Deal Value 235M GBP

Target

Tes Global

London, United Kingdom
website
Tes Global is an international provider of software services to make life easier for schools and teachers. All products and services are built with teachers and schools needs at the core, ensuring they are innovative, trusted education solutions. Tes Global products play a critical role helping teachers and school leaders deal with the challenges of teaching, including safeguarding and compliance, smart pupil management, and staff management. This dedication and focus supports educators across the globe in providing high quality education to millions of children using smart, flexible, and cost-effective solutions. A global Company, Tes Global was formed in 1910 and and operates across 10 offices, including in London, Sheffield, Hong Kong, Melbourne, Sydney, and Dubai.

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Buyer(S) 1

Buyer

Charterhouse Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1934
PE ASSETS 4.1B EUR
Size Mega
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 15 of 49
Sector (Software) 1 of 2
Type (Secondary Buyout) 8 of 27
Country (United Kingdom) 8 of 21
Year (2007) 4 of 5
Size (of disclosed) 27 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-23 ista International

Essen, Germany

ista International GmbH sells a range of meter hardware and also provides a comprehensive package of related services such as meter installation, meter reading, billing, data processing, and maintenance. ista International GmbH was formed in 1999 and is based in Essen, Germany.

Buy €2.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-01 Acromas Holdings

Folkestone, United Kingdom

Acromas Holdings Ltd. is a provider of insurance, financial and travel services. The company remains powerful in the financial, motoring and travel services business, under a management team with extensive experience in building and growing an affinity business.

Buy £6.2B

Seller(S) 3

SELLER

Exponent Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 2.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Exponent is a private equity firm focused on acquiring middle-market businesses located in the UK and broader Europe. Exponent targets opportunities in the media, business and financial services, healthcare, consumer, and leisure sectors. The Firm seeks to invest in businesses valued from £150 to £500 million. Exponent has a particular interest in businesses that are prominent in their respective markets, but may benefit from or need operational improvement. Exponent Private Equity was formed in 2004 and is based in London.

DEAL STATS #
Overall 1 of 24
Sector (Software) 1 of 1
Type (Secondary Buyout) 1 of 15
Country (United Kingdom) 1 of 21
Year (2007) 1 of 1
Size (of disclosed) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-19 V.Group

London, United Kingdom

V.Group specializes in technical management of maritime assets outsourced by ship owners, and the provision of a wide range of high-value technical, personnel, and advisory services. V.Group was founded in 1984 and is headquartered in London, United Kingdom.

Buy $340M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-09 Cardsave Group

N.E. Lincolnshire, United Kingdom

Cardsave Group Ltd. is a provider of an online payment processing solutions, merchant services, with the latest credit card machines & terminals and preferential card payment processing rates that save independent retailers money on taking cards.

Buy £72M
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
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 217
Sector (Software) 1 of 5
Type (Secondary Buyout) 30 of 82
Country (United Kingdom) 30 of 59
Year (2007) 9 of 16
Size (of disclosed) 49 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-08 Elektrokoppar AB

Helsingborg, Sweden

Elektrokoppar is a winding wire and wire rod manufactures in Europe. The company supplies its products mainly to the electric industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-23 Larivière SAS

Angers, France

Larivière is France’s second largest distributor of roofing materials.

Sell €300M
SELLER

European Capital

London, United Kingdom

website

Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.

DEAL STATS #
Overall 2 of 54
Sector (Software) 1 of 3
Type (Secondary Buyout) 1 of 25
Country (United Kingdom) 1 of 12
Year (2007) 2 of 8
Size (of disclosed) 17 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-03 Capital Safety

Red Wing, Minnesota, United States

Capital Safety, Inc. is a provider of fall protection equipment for people working at height in a wide range of end user sectors including manufacturing, construction, oil and gas, and utilities.

Buy €415M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-22 Camaieu

Roubaix, France

Camaieu is a women's fashion retail chain. It offers affordable ready-to-wear, easy-to-buy apparel for women between 25 and 50 years of age operating a network of 745 stores, of which 495 are in France. Camaieu is a trend follower and a pricing leader. The company's sophisticated systems and processes (procurement, logistics, restocking, and product mix) enable it to optimise sales through a continuous flow of competitively priced products at high volumes. Camaieu was founded in 1988 and is based in Roubaix, France.

Buy €1.5B
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