M&A Deal Summary

Sparring Capital and Ardian Acquire Keolis SA

On April 19, 2007, private equity firms Sparring Capital and Ardian acquired transportation company Keolis SA

Acquisition Highlights
  • This is Sparring Capital’s 2nd and Ardian’s 2nd transaction in the Transportation sector.
  • This is Sparring Capital’s 9th and Ardian’s 50th transaction in France.
Investment Fate
  • Keolis SA was sold to a strategic buyer in 2012.

M&A Deal Summary

Date 2007-04-19
Target Keolis SA
Sector Transportation
Buyer(s) Sparring Capital
Ardian
Deal Type Buyout (LBO, MBO, MBI)

Target

Keolis SA

Paris, France
Kéolis SA manages passenger transport networks for the account of local authorities and private contractors: buses, cars, subways, tramways, trolley buses, ferry networks, and maritime links.

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Buyer(S) 2

Buyer

Sparring Capital

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 850M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Sparring Capital is a private equity firm focused on acquiring majority positions in private medium-sized French companies. Pragma looks to fund leveraged buyouts and development capital financings of businesses with high barriers to entry and that lead their respective market niches. The Firm typically seeks companies with at least €10 million in revenue and at least €1.5 million of EBITDA. Sparring Capital was formed in 2002 and is based in Paris.


DEAL STATS #
Overall 10 of 40
Sector: Transportation M&A 2 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 20
Country: France M&A 9 of 38
Year: 2007 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 Fraikin Groupe SA

quai Le Gallo, France

Fraikin is the French leader in long-term leasing of commercial vehicles and holds a 25% market share. Fraikin’s customer growth has mainly been in the area of parcel delivery and transportation, as well as in the food industry and distribution.

Sell €1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-01 Tractel

Foetz, Luxembourg

Tractel provides lifting and access-related products. This includes lifting, material handling, measurement of tension and loads, suspended working platforms, building maintenance installations and fall arrest safety equipment. Tractel was founded in 1941 and is based in Foetz, Luxembourg.

Sell -
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 83 of 465
Sector: Transportation M&A 2 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 40 of 124
Country: France M&A 50 of 207
Year: 2007 M&A 9 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-11 Rexel

Paris, France

Rexel is a distributor of electrical parts and supplies. The Company supplies customers involved in residential, commercial and industrial construction, maintenance and renovation and currently has a network of approximately 1,700 branches in 29 countries, providing over 1.2 million products and related services. Rexel was founded in 1967 and is based in Paris, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-25 CEVA

Libourne, France

CEVA is a veterinary health company focused on the research, development, production and marketing of pharmaceutical products and vaccines for pets, livestock, swine, and poultry. CEVA was founded in 1999 and is based in Libourne, France.

Buy -