M&A Deal Summary

Cathay Capital Private Equity, Abénex and Ardian Acquire Vulcanic

On July 22, 2011, private equity firms Cathay Capital Private Equity, Abénex and Ardian acquired electrical equipment company Vulcanic from 21 Invest and MML Capital Partners

Acquisition Highlights
  • This is Cathay Capital Private Equity’s 1st, Abénex’s 1st and Ardian’s 5th transaction in the Electrical Equipment sector.
  • This is Cathay Capital Private Equity’s 12th, Abénex’s 11th and Ardian’s 91st transaction in France.
Investment Fate
  • Vulcanic was sold to a financial buyer in 2016.
  • Vulcanic was sold to a publicly-traded strategic buyer in 2022 for 262M EUR.

M&A Deal Summary

Date 2011-07-22
Target Vulcanic
Sector Electrical Equipment
Buyer(s) Cathay Capital Private Equity
Abénex
Ardian
Sellers(s) 21 Invest
MML Capital Partners
Deal Type Secondary Buyout

Target

Vulcanic

Neuilly sur Marne, France
Vulcanic is a designer and manufacturer of low and medium-volume series of electrical heating and cooling solutions for the industry (heating elements, industrial radiators, thermo regulators, etc. Vulcanic was founded in 1956 and is based in Neuilly Sur Marne, France.

Search 214,877 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 3

Buyer

Cathay Capital Private Equity

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cathay Capital Private Equity SAS is a French Chinese private equity firm focused on acquiring businesses in France, Hong Kong, and China. Cathay looks to help Western companies leverage opportunities in China and help Chinese companies leverage Western best practices and partnerships. The Firm looks to invest in businesses generating €5 to €150 million in revenues. Areas of interest include retail, consumer goods, electrical equipment, medical devices, pharmaceuticals, animal healthcare, translation, food, consumer services, and software. Cathay Capital Private Equity SAS was formed in 2007 and is based in Paris. The firm has additional offices in New York and Shanghai.


DEAL STATS #
Overall 15 of 101
Sector: Electrical Equipment M&A 1 of 5
Type: Secondary Buyout M&A Deals 5 of 16
Country: France M&A 12 of 42
Year: 2011 M&A 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-05 Moncler

Milan , Italy

Moncler is a manufacturer of high-end sportswear products under the brands Moncler, Henry Cotton, Marina Yachting and Coast, Weber & Ahaus (CWA) and licensee of the second-line brand Cerruti. Moncler was founded in 1952 and is based in Milan, Italy.

Buy €418M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-21 Datawords

Levallois-Perret, France

Datawords is a pioneer of e-Multiculturalism, a discipline that helps to optimize and accelerate the international deployment of digital marketing strategies. Datawords was founded in 2000 and is based in Levallois-Perret, France.

Buy -
Buyer

Abénex

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 1.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Abénex Capital SA is a French private equity firm focuses on acquiring mid-market companies throughout France. The Firm seeks to hold both majority and minority equity interest in companies along with the management teams. Specific areas of interest include consumer productsinterests, business services, industry and healthcare sector. The Firm will consider variety of transaction includes MBOs, MBIs, and LBO. Abénex, Capital SA was formerly known as ABN Amro Capital France and became independent of ABN Amro in 2008. Abénex Capital SA is based in Paris.


DEAL STATS #
Overall 12 of 47
Sector: Electrical Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 9
Country: France M&A 11 of 44
Year: 2011 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-01 Grand Frais

Givors, France

Grand Frais is a fresh food retail specialist, offering under one roof an extensive selection of quality fresh products (fruits & vegetables, seafood, meat, dairy and grocery). Grand Frais was founded in 1992 and is based in Givors, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-02 Stelliant

Paris, France

Stelliant is a provider of loss adjustment services for insurance companies, repair in kind, claims management and real estate diagnosis. Stelliant was founded in 1987 and is based in Paris, France.

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 169 of 465
Sector: Electrical Equipment M&A 5 of 8
Type: Secondary Buyout M&A Deals 43 of 155
Country: France M&A 91 of 207
Year: 2011 M&A 11 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-21 Com Hem AB

Stockholm, Sweden

Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. The company plays an important role in Sweden’s ongoing digitalisation push, with its powerful and future-proofed broadband network that covers half of the country’s households, reaching approximately 1.5 million customers.

Sell $2.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-28 Martek Power

Torrance, California, United States

Martek Power is today one of the world's leaders in the power conversion industry. With over 40 years of experience, Martek Power possesses a unique expertise in the design and production of power conversion products for high technological aeronautical, defence, medical, telecom and railway industries.

Sell €130M

Seller(S) 2

SELLER

21 Invest

Treviso, Italy

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

21 Invest is a private equity firm that targets investments in growth-oriented, middle-market Italian, French, and Polish companies operating in a variety of industries. The Firm invests in French businesses through 21 Centrale Partners, Italian companies through 21 Partners SGR, and Polish companies through 21 Concordia. The Firm targets transactions requiring at least €10 million of capital typically in the form of development capital for growth companies, buyout capital for managers, or replacement capital for companies facing succession issues or needing shareholder liquidity. 21 Invest was founded in 1992 and is based in Treviso, Italy.


DEAL STATS #
Overall 13 of 45
Sector: Electrical Equipment M&A 1 of 3
Type: Secondary Buyout M&A Deals 6 of 26
Country: France M&A 5 of 22
Year: 2011 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-22 PittaRosso

Milan, Italy

PittaRosso is a retailer in the Italian footwear market with a network of over 100 stores and a growing presence of approximately 20 stores across France, Croatia and Slovenia. PittaRosso was founded in 1972 and is based in Legnaro, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-25 Interflora

Lyon, France

Interflora is a flower and gift digital platform that operates a portfolio of complementary gifting brands including Interflora, the iconic European flower and gift brand in France, Denmark, Italy, Spain, Portugal, Luxembourg, Iceland, and Romania. MyFlower is the holding company of the Interflora France group operating the Interflora brand, a leader in floral transmission in Europe, which also owns the online pure-player “Bebloom”, as well as “Renaud Distribution”, a leader in distributing supplies to florists, and cadeaux.com, the leader in online distribution of personalized gifts. Interflora was formed in 1991 and is based in Lyon, France.

Sell -
SELLER

MML Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

MML Capital Partners is an investment firm that targets subordinated debt and traditional private equity investments across the US and Europe. MML Capital looks for transactions requiring €5 million and €200 million of capital to support expansion financing, management buyouts, recapitalizations, leveraged buyouts, and take privates. MML Capital invested more than €3.1 billion across 11 countries. MML Capital Partners was formed in 1988 and is based in London, United Kingdom.


DEAL STATS #
Overall 9 of 39
Sector: Electrical Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 5 of 19
Country: France M&A 2 of 6
Year: 2011 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-11 Coventya

Villeneuve-la-Garenne, France

Coventya develops and supplies specialty chemicals for surface finishing in over 40 countries and 4 continents. Coventya is based in Villeneuve-la-Garenne, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-21 TNT Crane & Rigging

Houston, Texas, United States

TNT Crane & Rigging is a mobile crane rental company serving the Louisiana and Oklahoma region. TNT provides crane rental and rigging services primarily to the refinery, oil & gas, petrochemical, power and commercial end markets. The Company owns one of the largest and most diverse mobile crane fleets in the region, with cranes ranging in size from 15-tons to 800-tons. TNT Crane & Rigging was founded in 1985 and is based in Houston, Texas.

Sell -