M&A Deal Summary

Apax Partners, The Carlyle Group and Cinven Acquires Aprovia SA

On June 1, 2002, private equity firms Apax Partners , The Carlyle Group and Cinven acquired publishing company Aprovia SA for 493M EUR

Acquisition Highlights
  • This is Apax Partners’ 2nd, The Carlyle Group’s 4th and Cinven’s 7th transaction in the Publishing sector.
  • This is Apax Partners’ 39th, The Carlyle Group’s 76th and Cinven’s 45th largest (disclosed) transaction.
  • This is Apax Partners’ 4th, The Carlyle Group’s 7th and Cinven’s 4th transaction in France.
Investment Fate
  • Aprovia SA was sold to a publicly-traded strategic buyer in 2003 for 79M GBP.

M&A Deal Summary

Date 2002-06-01
Target Aprovia SA
Sector Publishing
Buyer(s) Apax Partners
The Carlyle Group
Cinven
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 493M EUR

Target

Aprovia SA

Paris, France
website
Aprovia SA is a UK construction publisher and event organiser.

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Buyer(S) 3

Buyer

Apax Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 51.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 30 of 232
Sector (Publishing) 2 of 6
Type (Buyout (LBO, MBO, MBI)) 13 of 53
Country (France) 4 of 28
Year (2002) 9 of 13
Size (of disclosed) 39 of 55
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-02 Wisair, Inc.

Tel Aviv, Israel

Wisair, Inc. is a developer of a chipset solution for high-performance wireless communication based on Ultra Wide Band technology.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-18 The StayWell Company

Yardley, Pennsylvania, United States

Staywell is a health empowerment company that enables populations to improve health outcomes through the science of behavior change. Staywell was founded in 1978 and is headquartered in St. Paul, Minnesota.

Buy €4.3B
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 84.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 104 of 670
Sector (Publishing) 4 of 8
Type (Buyout (LBO, MBO, MBI)) 56 of 203
Country (France) 7 of 27
Year (2002) 8 of 23
Size (of disclosed) 76 of 133
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-01 Sippican, Inc.

Marion, Massachusetts, United States

Sippican, Inc. is a designer and manufacturer of systems and associated expendable products for anti-ship missile defense, anti-submarine warfare training and specialized meteorological and oceanographic data gathering and processing.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-25 Indigo Systems Corp.

Goleta, California, United States

Indigo Systems Corp. is a premier developer and supplier of advanced infrared cameras and components, covering the entire infrared spectrum including near-, midwave-, and longwave-IR.

Buy -
Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1977
PE ASSETS 15.5B EUR
SizeMega
Type Sector Agnostic
DESCRIPTION

Cinven is a large private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe. 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 a minimum enterprise value of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and has offices in Frankfurt, London, Paris, Hong Kong, and Milan.


DEAL STATS #
Overall 88 of 165
Sector (Publishing) 7 of 10
Type (Buyout (LBO, MBO, MBI)) 63 of 76
Country (France) 4 of 14
Year (2002) 4 of 5
Size (of disclosed) 45 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-01 William Hill Plc

London, United Kingdom

William Hill Plc is a betting and gaming companies with approximately 1,500 licensed betting outlets and a leading telephone betting business. William Hill was founded in 1934 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-07-18 The StayWell Company

Yardley, Pennsylvania, United States

Staywell is a health empowerment company that enables populations to improve health outcomes through the science of behavior change. Staywell was founded in 1978 and is headquartered in St. Paul, Minnesota.

Buy €4.3B