M&A Deal Summary

Advent International Acquires Craegmoor

On July 18, 2008, private equity firm Advent International acquired healthcare services company Craegmoor from LGV Capital and ICG for 290M GBP

Acquisition Highlights
  • This is Advent International’s 7th transaction in the Healthcare Services sector.
  • This is Advent International’s 32nd largest (disclosed) transaction.
  • This is Advent International’s 23rd transaction in the United Kingdom.
Investment Fate
  • Craegmoor was sold to a publicly-traded strategic buyer in 2011.

M&A Deal Summary

Date 2008-07-18
Target Craegmoor
Sector Healthcare Services
Buyer(s) Advent International
Sellers(s) LGV Capital
ICG
Deal Type Secondary Buyout
Deal Value 290M GBP

Target

Craegmoor

London, United Kingdom
Craegmoor Ltd. is an operator of elderly and specialist long term care homes in the UK.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B 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 159 of 353
Sector: Healthcare Services M&A 7 of 18
Type: Secondary Buyout M&A Deals 10 of 58
Country: United Kingdom M&A 23 of 36
Year: 2008 M&A 3 of 7
Size (of disclosed) 32 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-30 Gerard Darel

Paris, France

Gerard Darel is a designer, retailer, and distributor of high-end womenswear and leather goods. Gerard Darel was founded in 1971 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Bradco Supply

Avenel, New Jersey, United States

Bradco Supply Corp. is a distributor of roofing materials in the U.S.

Buy -

Seller(S) 2

SELLER

LGV Capital

London, United Kingdom

Category Private Equity Firm
Founded 1989
PE ASSETS 1.6B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LGV Capital Ltd is the private equity arm of Legal & General Group plc, an FTSE-100 quoted insurance firm that invests in middle market consumer, healthcare, leisure and services companies headquartered in the British Isles. LGV focuses on buyouts of rapidly growing, profitable companies with defensible market positions and strong management. LGV looks to invest £15 million in businesses valued from £25 to £200 million. The Firm targets companies in specialist retail, consumer services, food/beverages, household, personal care/OTC products, luxury branded goods, residential care, education, life sciences, animal health, pubs, restaurants, caravan parks, spas, recreational facilities, consultancy, outsourcing, human capital, logistics, IT services and facilities managements. LGV Capital Ltd was formerly known as Legal & General Ventures. LGV was formed in 1989 and is based in London.


DEAL STATS #
Overall 13 of 19
Sector: Healthcare Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 7 of 11
Country: United Kingdom M&A 13 of 18
Year: 2008 M&A 4 of 4
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-07 Liberation Brewing Co.

Saint Helier, Channel Islands

Liberation Brewing Co. is an integrated pub and brewing business with two breweries and three distribution businesses. Liberation Brewing Co. was founded in 1871 and is based in Saint Helier, Channel Islands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-05 LGC Group

Teddington, United Kingdom

LGC Group is an international life science measurement and testing company. LGC provides a range of measurement products and services that underpin the safety, health, and security of the public, including reference materials and proficiency testing, genomics reagents and instrumentation, and expert sample analysis and interpretation. LGC Group was founded in 1842 and is based in Teddington, United Kingdom.

Sell £257M
SELLER

ICG

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 33.4B 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 94 of 225
Sector: Healthcare Services M&A 6 of 11
Type: Secondary Buyout M&A Deals 37 of 86
Country: United Kingdom M&A 35 of 58
Year: 2008 M&A 4 of 7
Size (of disclosed) 42 of 74
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-05 Löwen Play

Bingen, Germany

Löwen Play is a gaming arcade operator. Löwen Play operates around 240 amusement arcades that provide gaming, sports, and amusement machines. Löwen Play was founded in 1949 and is based in Bingen, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-23 Labco

Paris, France

Labco is a provider of medical diagnostic services. Labco also operates a large portfolio of hospital outsourcing contracts in Europe, providing services to both ambulatory care and hospitals. Labco was founded in 2003 and is based in Paris, 75010, France.

Buy €150M