M&A Deal Summary

HgCapital and Ardian Acquire A-Plan

On December 16, 2014, private equity firms HgCapital and Ardian acquired insurance company A-Plan from Equistone

Acquisition Highlights
  • This is HgCapital’s 2nd and Ardian’s 2nd transaction in the Insurance sector.
  • This is HgCapital’s 42nd and Ardian’s 15th transaction in the United Kingdom.
Investment Fate
  • A-Plan was sold to a strategic buyer in 2020.

M&A Deal Summary

Date 2014-12-16
Target A-Plan
Sector Insurance
Buyer(s) HgCapital
Ardian
Sellers(s) Equistone
Deal Type Secondary Buyout

Target

A-Plan

Witney, United Kingdom
A-Plan Ltd. is a UK specialist multichannel insurance broking group with a focus on personal lines and a growing presence in specialized products such as SME policies. The group’s core proposition is a branch-led, service-driven offering, valued by its large base of loyal customers that today make up over 1.5 million policies nationally. A-Plan was formed in 1963 and is based in Witney, United Kingdom.

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Buyer(S) 2

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 74 of 153
Sector: Insurance M&A 2 of 4
Type: Secondary Buyout M&A Deals 19 of 51
Country: United Kingdom M&A 42 of 59
Year: 2014 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-19 Allocate Software

Richmond, United Kingdom

Allocate Software is a provider of specialist workforce optimisation, organisational flow improvement, governance, risk & compliance software focused on helping our customers manage large, multi-skilled workforces in complex, fast changing environments. Allocate Software was established in 1991 and is based in Richmond, United Kingdom.

Buy £110M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-19 Access Group

Loughborough, United Kingdom

Access Group is a provider of fully integrated business management software. Its portfolio spans ERP, finance, HR, Payroll, recruitment, warehousing, business intelligence, professional service automation and manufacturing. Access Group was formed in 1991 and is based in Loughborough, United Kingdom.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 225 of 465
Sector: Insurance M&A 2 of 12
Type: Secondary Buyout M&A Deals 67 of 155
Country: United Kingdom M&A 15 of 27
Year: 2014 M&A 20 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 PetSmart

Phoenix, Arizona, United States

PetSmart is a specialty retailer and provider of pet products and services in North America. The Company also offers a selection of services, including professional grooming and boarding, as well as training and day camp for dogs. PetSmart was founded in 1986 and is based in Phoenix, Arizona.

Buy $8.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-18 Delta Solar

Cedex, France

Delta Solar is in development of solar projects and manages nine photovoltaic farms (including the site of Les Mées in the French Alps, one of the largest farms in France). With a capacity of about 70MW, Delta Solar is ranked amongst the top five solar operators in France.

Buy -

Seller(S) 1

SELLER

Equistone

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, United Kingdom.


DEAL STATS #
Overall 124 of 206
Sector: Insurance M&A 5 of 6
Type: Secondary Buyout M&A Deals 60 of 96
Country: United Kingdom M&A 60 of 84
Year: 2014 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-27 Travel Counsellors

Manchester, United Kingdom

Travel Counsellors is a travel marketplace for self-employed travel agents. Travel Counsellors was founded in 1994 and is based in Manchester, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-18 Unlimited Footwear Group

Waalwijk, Netherlands

Unlimited Footwear Group is a Dutch specialist in the design, sourcing and distribution of mid-market footwear for men, women and children. The company markets its shoes under its own "Bullboxer" brand through retail chains in Europe and North America, under private labels and under various licensed brands such as Bjorn Borg and GAASTRA. Unlimited Footwear Group is based in Waalwijk, Netherlands.

Buy -