M&A Deal Summary

FA Capital, AAC Capital UK and Intermediate Capital Group Acquire Global Garden Products

On December 1, 2003, private equity firm FA Capital, private equity firm AAC Capital UK and mezzanine finance firm Intermediate Capital Group acquired machinery company Global Garden Products from Nordic Mezzanine for 480M EUR

Acquisition Highlights
  • This is FA Capital’s 3rd, AAC Capital UK’s 1st and Intermediate Capital Group’s 2nd transaction in the Machinery sector.
  • This is FA Capital’s , AAC Capital UK’s and Intermediate Capital Group’s 38th largest (disclosed) transaction.
  • This is FA Capital’s 5th, AAC Capital UK’s 1st and Intermediate Capital Group’s 1st transaction in Italy.
Investment Fate
  • Global Garden Products was sold to a consortium of financial buyers in 2007 for 730M EUR.

M&A Deal Summary
Date 2003-12-01
Target Global Garden Products
Sector Machinery
Buyer(s) FA Capital
AAC Capital UK
Intermediate Capital Group
Sellers(s) Nordic Mezzanine
Deal Type Secondary Buyout
Deal Value 480M EUR
Advisor(s) Ashurst LLP (Legal)

Target

Global Garden Products

Castelfranco Veneto, Italy
website
Global Garden Products provides a powered garden equipment market leader with a particularly strong position in Italy, Scandinavia and the UK. Global Garden Products was founded in 2000 and is based in Castelfranco Veneto, Italy.

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Buyer(S) 3

Buyer

FA Capital

Milan, Italy

Investor Investor

website

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Agnostic
DESCRIPTION

FA Capital SPA is an Italian private equity firm specializing in mid market buyouts, replacement and expansion capital transactions invests in companies located in Italy. It seeks to acquire both majority and minority equity interest in portfolio companies. The Firm targets to invest in companies with international development, high-growth segments and proven business models. It looks to invest €25 to €50 million. FA Capital SPA was a spun-off of ABN Amro Capital and became independent in 2008. FA Capital SPA is based in Milano.

DEAL STATS #
Overall 6 of 8
Sector (Machinery) 3 of 4
Type (Secondary Buyout) 1 of 1
Country (Italy) 5 of 7
Year (2003) 2 of 2
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Appliance Components Companies

Pordenone, Spain

Appliances Components Companies (ACC) is a Group manufacturing compressors for household refrigeration appliances. ACC has three European production plants strategically located in Mel (Italy), Fuerstenfeld (Austria) and Oldenburg (Germany) and one located in Tianjin (China).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Humanitas

Rozzano, Italy

Techosp operates through proprietary hospitals within both the public health system and the private health spending. Among them, there is the Milan-based Istituto Clinico Humanitas.

Sell -
Buyer

AAC Capital UK

London, United Kingdom

website

Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

AAC Capital UK is a mid-market Private equity buyout firm focuses on the niche companies in the Industrial, Business Services and Consumer sectors. AAC Capital UK formerly known as the UK team of ABN AMRO Capital. The firm looks to invest in profitable, cash-generative companies whose principal operations are in the UK. AAC Capital UK LLP is a private equity arm of AAC Capital partners. AAC Capital UK was formed in 2011 and is based in UK.

DEAL STATS #
Overall 8 of 22
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 2 of 9
Country (Italy) 1 of 1
Year (2003) 1 of 1
Size (of disclosed) 1 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-01 The Jessop Group

Leicester, United Kingdom

The Jessop Group Ltd. is a provider of digital photography products.

Buy £147M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Dennis Eagle

Warwick, United Kingdom

Dennis Eagle is UK's leading designer & manufacturer of refuse collection vehicles and is the only supplier in the European market of both chassis (cabs) and bodies. The company has a rapidly expanding customer base in continental Europe, Scandinavia and the rest of the world. Dennis Eagle has 580 employees in factories in Warwick and Blackpool and in addition to its manufacturing operations, runs a parts and service after-market business from seven centres across the UK.

Buy £51M
Buyer

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 103 of 287
Sector (Machinery) 2 of 5
Type (Secondary Buyout) 12 of 110
Country (Italy) 1 of 8
Year (2003) 13 of 13
Size (of disclosed) 38 of 82
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-01 European Aerosols

Hassmersheim, Germany

European Aerosols is a european manufacturer of paints and putty. European Aerosols was founded in 1998 and is based in Hassmersheim, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-22 MGE UPS Systems SA

Saint Ismier, France

GE designs, manufactures and sells Uninterruptible Power Supply (UPS) systems. It is the third largest player worldwide, with a presence in more than 100 countries. It serves global clients in sectors such as banking, airport infrastructures, hospitals and telecom operators. In spite of a severe downturn in demand from ISP/Telecom operators in 2001.

Sell -

Seller(S) 1

SELLER

Nordic Mezzanine

Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 480M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Nordic Mezzanine is an independent provider of mezzanine financing for buyouts, growth capital needs, and capital restructurings. Nordic will consider opportunities in a broad range of industry sectors and generally looks to invest in Scandinavia, Germany, Austria, Switzerland, the Netherlands and Belgium. The Firm's target investment size is €10 to €40 million. Nordic Mezzanine was formed in 1999 and is based in Helsinki with an additional office in London.

DEAL STATS #
Overall 2 of 26
Sector (Machinery) 1 of 2
Type (Secondary Buyout) 2 of 10
Country (Italy) 1 of 1
Year (2003) 1 of 1
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-02-12 Paroc Group Oy AB

Helsinki, Finland

Paroc Group Oy AB is a mineral wool insulation manufacturers in Europe. The company develops, manufactures and distributes stone wool products for use by the building industry and other industrial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Dynapac AB

Jarfalla, Sweden

Dynapac is a leading global manufacturer of compaction and paving equipment for the road-building and construction markets founded in 1934.

Buy -
Mergr

Product

Company

Legal