M&A Deal Summary

Advent International and Bain Capital Private Equity Acquire Boart Longyear

On June 7, 2005, private equity firms Advent International and Bain Capital Private Equity acquired energy services and equipment company Boart Longyear from Anglo American for 545M USD

Acquisition Highlights
  • This is Advent International’s 1st and Bain Capital Private Equity’s 1st transaction in the Energy Services and Equipment sector.
  • This is Advent International’s 29th and Bain Capital Private Equity’s 58th largest (disclosed) transaction.
  • This is Advent International’s 38th and Bain Capital Private Equity’s 27th transaction in the United States.
  • This is Advent International’s 2nd and Bain Capital Private Equity’s 2nd transaction in Utah.
Investment Fate
  • Boart Longyear was sold to a strategic buyer in 2006.
  • Boart Longyear went public in 2007.
  • Boart Longyear was recapitalized in 2015.
  • Boart Longyear was sold to a financial buyer in 2024.

M&A Deal Summary

Date 2005-06-07
Target Boart Longyear
Sector Energy Services and Equipment
Buyer(s) Advent International
Bain Capital Private Equity
Sellers(s) Anglo American
Deal Type Divestiture
Deal Value 545M USD

Target

Boart Longyear

Salt Lake City, Utah, United States
website
Boart Longyear is a provider of drilling services, orebody-knowledge technology, and innovative, safe and productivity-driven drilling equipment. The Company’s primary focus is on mining and exploration activities spanning commodities including copper, gold, nickel, zinc, uranium, and other minerals. Boart Longyear was established in 1890 and is based in Salt Lake City, Utah.

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Buyer(S) 2

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 120 of 330
Sector (Energy Services and Equipment) 1 of 4
Type (Divestiture) 8 of 37
State (Utah) 2 of 4
Country (United States) 38 of 100
Year (2005) 6 of 15
Size (of disclosed) 29 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-01 Gruppo Argenta

Carpi, Italy

Gruppo Argenta SpA is a Italian player in the vending industry with more than 110,000 automatic and OCS machines that serve 55,000 clients and register over 2 million vends per day (over 500 million yearly). Argenta workforce is made of more than 1,500 people including 800 refillers and 280 technicians.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-13 MACH

Contern, Luxembourg

MACH is a hub-based mobile communications exchange. MACH solutions shorten providers' time to market for new mobile applications, optimize service delivery to the mobile end-user, and accelerate the settlement of inter-operator financial liabilities. MACH enables the efficient flow of mobile traffic, of service validation, delivery and billing information, and of settlement transactions.

Sell -
Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 35 of 228
Sector (Energy Services and Equipment) 1 of 2
Type (Divestiture) 11 of 38
State (Utah) 2 of 2
Country (United States) 27 of 121
Year (2005) 3 of 8
Size (of disclosed) 58 of 69
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 Jack Wolfskin KGaA

Idstein, Germany

Jack Wolfskin GmbH & Co. KGaA is a provider of functional outdoor clothing, footwear and equipment in Europe and the largest franchisor in the German specialist sports retail market. Jack Wolfskin products are currently available in more than 400 franchise stores and at 4,000 points of sale across Europe and Asia. Jack Wolfskin products feature a high degree of functionality, user-friendliness and innovation.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-04 Eschelon Telecom

Minneapolis, Minnesota, United States

Eschelon Telecom, Inc. is a facilities-based competitive communications services provider of voice and data services and business telephone systems in 45 markets in the western United States.

Sell -

Seller(S) 1

SELLER

Anglo American

London, United Kingdom

website


Category Company
Founded 1917
Sector Metals/Mining
Employees106,000
Revenue 41.6B USD (2021)
DESCRIPTION

Anglo American is a mining company, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Our portfolio of mining businesses meets our customers' changing needs and spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals and minerals – copper, nickel, niobium and phosphates; and precious metals and minerals – in which we are a global leader in both platinum and diamonds. Anglo American was incorporated in 1917 and is based in London, the United Kingdom.


DEAL STATS #
Overall 1 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 3
State (Utah) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-04 De Beers SA

Luxembourg

De Beers, established in 1888, is the world’s leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds.

Buy -