Secondary Buyout • Retail

Advent International and HarbourVest Partners Acquire Takko Fashion

On August 1, 2007, private equity firms Advent International and HarbourVest Partners acquired retailer Takko Fashion from Permira and ICG

Acquisition Context
  • This is Advent International’s 13th and HarbourVest Partners’ 2nd transaction in the Retail sector.
  • This is Advent International’s 12th and HarbourVest Partners’ 5th transaction in Germany.
Investment Fate
  • Takko Fashion was sold to a consortium of financial buyers in 2010 for 1.7B USD.

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M&A Deal Summary

Date August 1, 2007
Target Takko Fashion
Sector Retail
Buyer(s) Advent International
HarbourVest Partners
Sellers(s) Permira
ICG
Deal Type Secondary Buyout

Target Company

Takko Fashion

Telgte, Germany
Takko Fashion is a retailer of fashionable 'value for money' clothing, targeting young families and women aged between 25 and 40. Takko Fashion was formed in 1982 and runs over 900 stores in Germany, Austria, The Netherlands, Hungary, and the Czech Republic.
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Buyers Overview 2

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 Context for Buyer #
Overall 148 of 353
Sector: Retail 13 of 21
Type: Secondary Buyout 9 of 58
Country: Germany 12 of 23
Year: 2007 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-26 Lululemon

Vancouver, British Columbia, Canada

Lululemon is a designer, marketer, and retailer of yoga apparel. Lululemon athletica was founded in 1998 and is based in Vancouver, Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-09 Managed Health Care Associates

Florham Park, New Jersey, United States

Managed Health Care Associates, Inc. is a health care services and technology company. MHA offers a variety of services to pharmaceutical manufacturers selling to the LTC industry, including contract administration, marketing, and continuing education. Managed Health Care Associates was formed in 1989 and is based in Florham Park, New Jersey.

Sell -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


Deal Context for Buyer #
Overall 55 of 214
Sector: Retail 2 of 5
Type: Secondary Buyout 12 of 55
Country: Germany 5 of 9
Year: 2007 12 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 VIX

Coral Gables, Florida, United States

VIX, Inc. is an independent digital media company, that creates content that sparks curiosity and adds value to millions of people every day. Our content lives at VIX.com and across a variety of social platforms such as Facebook, Instagram, and YouTube. VIX was formed in 1999 and is based in Coral Gables, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-11 Zayo

Boulder, Colorado, United States

Zayo is a provider of bandwidth infrastructure and network neutral colocation and interconnection services. Zayo's services allow its customers, which include telecom carriers, wireless service providers, media and content companies, and other bandwidth-intensive businesses, to transport data, voice, video, and internet traffic, as well as to interconnect their networks. Zayo was founded in 2007 and is based in Boulder, Colorado.

Buy -

Seller Profiles 2

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


Deal Context for Seller #
Overall 30 of 97
Sector: Retail 3 of 7
Type: Secondary Buyout 9 of 29
Country: Germany 10 of 17
Year: 2007 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-13 Hugo Boss

Metzingen, Germany

Hugo Boss is a retailer that develops, markets, and distributes women and men fashion and accessories in the premium and luxury segment. Hugo Boss was founded in 1924 and is based in Metzingen, Germany.

Buy -
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

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 Context for Seller #
Overall 88 of 225
Sector: Retail 5 of 10
Type: Secondary Buyout 33 of 86
Country: Germany 6 of 18
Year: 2007 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Helicon Cable Holdings

Rye Brook, New York, United States

Helicon Cable (also known as Jetbroadband) is a cable system operator that is predominately focused on rural areas in the eastern United Sates.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-01 nora Systems

Weinheim, Germany

nora Systems GmbH is a global manufacturer of commercial rubber floor covering systems. The company has been designing and manufacturing high-performance rubber flooring for more than 80 years for a number of different markets. Nora’s team of skilled professionals collaborates with architects and designers to develop performance-driven flooring solutions that help bring their projects to life.

Buy -

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