M&A Deal Summary

Advent International, Cinven, Omnes Capital and RAG-Stiftung Acquire TK Elevator

On February 27, 2020, private equity firm Advent International, private equity firm Cinven, private equity firm Omnes Capital and RAG-Stiftung acquired machinery company TK Elevator from thyssenkrupp

Acquisition Highlights
  • This is Advent International’s 4th, Cinven’s 5th, Omnes Capital’s 9th and RAG-Stiftung’s 2nd transaction in the Machinery sector.
  • This is Advent International’s 18th, Cinven’s 11th, Omnes Capital’s 7th and RAG-Stiftung’s 4th transaction in Germany.

M&A Deal Summary

Date 2020-02-27
Target TK Elevator
Sector Machinery
Buyer(s) Advent International
Cinven
Omnes Capital
RAG-Stiftung
Sellers(s) thyssenkrupp
Deal Type Divestiture

Target

TK Elevator

Düsseldorf, Germany
ThyssenKrupp elevator service vehicle in Duluth, Minnesota.
ThyssenKrupp elevator service vehicle in Duluth, Minnesota.
TK Elevator is a global provider of elevators, escalators, and other innovative passenger transportation solutions. TK Elevator is based in Dusseldorf, Germany.

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Buyer(S) 4

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


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 281 of 331
Sector (Machinery) 4 of 4
Type (Divestiture) 25 of 37
Country (Germany) 18 of 20
Year (2020) 3 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-06 ForeScout

San Jose, California, United States

ForeScout is a cybersecurity company focused on device visibility and control. ForeScout delivers device visibility and control to enable enterprises and government agencies to gain complete situational awareness of their environment and orchestrate action. ForeScout Technologies was founded in 2000 and is based in San Jose, California.

Buy $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-13 DEPObank

Milan, Italy

DEPObank SpA is a specialized bank focused on providing securities services and bank payments to businesses from the domestic market, and a reference point for the entire Italian financial system. DEPObank was formed in 2018 and is based in Milan, Italy.

Sell -
Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 164 of 183
Sector (Machinery) 5 of 5
Type (Divestiture) 31 of 35
Country (Germany) 11 of 13
Year (2020) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-26 Barentz

Hoofddorp, Netherlands

Barentz is a specialty ingredients distributor for the food, pharmaceutical, personal care, and animal nutrition markets. The Group sources branded specialty ingredients from leading manufacturers worldwide, and its ingredient experts provide value-added technical support (including pre-mixing, blending, ingredient formulation, and ingredient testing) from its state-of-the-art production facilities in Europe, North America, and Asia. Barentz was founded in 1953 and is based in Hoofddorp, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-12 Allegro

Poznan, Poland

Allegro is an online marketplace in Poland that connects consumers with merchants. With more than 20 million users per month, 13 million active buyers and 125,000 merchants. Allegro offers consumers a vibrant and expansive shopping experience, and merchants excellent commercial opportunities. The group also operates Ceneo.pl - Poland’s leading online price comparison website, and eBilet – the leading event ticket sales site in Poland. Allegro was founded in 1999 and is based in Poznan, Poland.

Sell -
Buyer

Omnes Capital

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 5.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.


DEAL STATS #
Overall 151 of 162
Sector (Machinery) 9 of 9
Type (Divestiture) 6 of 6
Country (Germany) 7 of 7
Year (2020) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-23 Better Energy

Frederiksberg, Denmark

Better Energy is a provider of 5 GW of solar projects at different stages in Denmark and Poland. Better Energy was founded in 2012 and is based in Frederiksberg, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-28 IFT

Paris, France

IFT is a company dedicated to actively managing fiber lines. In particular, it is tasked with acquiring and operating the Group’s co-financed FTTH tranches outside very densely populated areas of France. IFT is based in Paris, France.

Buy -
Buyer

RAG-Stiftung

Essen, Germany

Category Company
Founded 2007
Sector Information Technology
DESCRIPTION

RAG-Stiftung is a provider of pertinent information and data on its website. The company is founded to ensure that the RAG Corporation can discontinue subsidized coal mining in a socially acceptable manner by the end of 2018.


DEAL STATS #
Overall 5 of 5
Sector (Machinery) 2 of 2
Type (Divestiture) 1 of 1
Country (Germany) 4 of 4
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 Pell Frischmann

London, United Kingdom

Pell Frischmann is a diverse engineering, development and management consultancy delivering solutions for public and private clients.

Buy -

Seller(S) 1

SELLER

thyssenkrupp

Essen, Germany

Category Company
Founded 1811
Sector Diversified
Employees101,592
Revenue 37.5B EUR (2023)
DESCRIPTION

thyssenKrupp is a multinational conglomerate corporation operating two divisions Materials and Technologies. The Materials division produces carbon steel, and stainless steel, and as well as produces material services while the Technology Division focuses on elevator, plant and components technology, and marine solutions. thyssenKrupp was founded in 1811 and is based in Essen, Germany.


DEAL STATS #
Overall 11 of 11
Sector (Machinery) 1 of 1
Type (Divestiture) 8 of 8
Country (Germany) 7 of 7
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-21 ThyssenKrupp Companhia Siderúrgica do Atlântico

Rio de Janeiro, Brazil

ThyssenKrupp Companhia Siderúrgica do Atlântico is a steel slab producer with a steelmaking facility located in the state of Rio de Janeiro, Brazil, and has an annual production capacity of 5 million tons of high-end steel slabs, a deep-water harbor and a 490 MW combined cycle power plant.

Sell €1.5B