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  5. Avenue Capital Group, H.I.G. Private Equity and Pollen Street Capital Acquire Freedom Finance

M&A Deal Summary

Avenue Capital Group, H.I.G. Private Equity and Pollen Street Capital Acquire Freedom Finance

On May 15, 2013, asset manager Avenue Capital Group, private equity firm H.I.G. Private Equity and asset manager Pollen Street Capital acquired financial services company Freedom Finance

Acquisition Highlights
  • This is Avenue Capital Group’s 1st, H.I.G. Private Equity’s 2nd and Pollen Street Capital’s 6th transaction in the Financial Services sector.
  • This is Avenue Capital Group’s 1st, H.I.G. Private Equity’s 12th and Pollen Street Capital’s 7th transaction in the United Kingdom.

M&A Deal Summary
Date 2013-05-15
Target Freedom Finance
Sector Financial Services
Buyer(s) Avenue Capital Group
H.I.G. Private Equity
Pollen Street Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Freedom Finance

Simonsway, United Kingdom
Freedom Finance Ltd. is an unsecured consumer loan broker with operations in Sweden, Norway, and Finland. The company markets, processes, and distributes loan applications for all unsecured borrowing uses such as loan refinancing, vehicle purchase, holiday financing, and home refurbishments.

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Buyer(S) 3

Buyer

Avenue Capital Group

New York, New York, United States
Category Asset Manager
Founded 1995
PE ASSETS 11.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Avenue Capital Group is a private investment firm focused on acquiring a range of public and private securities. Avenue will consider opportunities throughout the US, Europe, and Asia and generally targets distressed assets, including businesses undergoing turnarounds, bankruptcy, reorganizations, and liquidations. Avenue was formed in 1995 and is based in New York City.

DEAL STATS #
Overall 4 of 9
Sector (Financial Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 2
Country (United Kingdom) 1 of 2
Year (2013) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-05 Punj Lloyd

Gurugram , India

Punj Lloyd is an engineering, procurement, and construction companies with a strong track record of executing complex, high value, oil and gas and civil infrastructure projects in South Asia, the Middle East, Asia Pacific, Africa, and the Caspian region. Punj Lloyd was founded in 1988 and is headquartered in Gurugram, Haryana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-18 Tekni-Plex

Wayne, Pennsylvania, United States

Tekni-Plex is a globally-integrated company focused on developing and manufacturing innovative packaging materials, medical compounds and precision-crafted medical tubing solutions for some of the most well-known names in the medical, pharmaceutical, personal care, household and industrial, and food and beverage industries. Tekni-Plex was founded in 1967 and is based in Wayne, Pennsylvania.

Sell -
Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.

DEAL STATS #
Overall 138 of 379
Sector (Financial Services) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 47 of 116
Country (United Kingdom) 12 of 29
Year (2013) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-24 Onyx CenterSource

Dallas, Texas, United States

Onyx CenterSource is a processor of commissions paid by hotels to travel agencies. Onyx CenterSource operates a global payment network and provides its hotel and travel agency customers with services including commission receipt and disbursement, foreign currency exchange, and reconciliation and tracking. Onyx CenterSource was founded in 1992 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-04 Raymond Express International

San Francisco, California, United States

Raymond Express International, Inc. is a provider of transportation solutions for temperature-sensitive products. Raymond Express International was founded in 1983 and is based in San Francisco, California.

Buy -
Buyer

Pollen Street Capital

Category Asset Manager
Founded 2013
PE ASSETS 2.7B GBP
Size Large
Type Sector Focused
DESCRIPTION

Pollen Street Capital is an asset management and private equity firm focused on acquiring and investing in financial and business services companies. The Firm is a hands-on investor and looks to work with management teams in building company value and driving growth. Pollen Street Capital was formed in 2013 and is headquartered in London, England.

DEAL STATS #
Overall 9 of 31
Sector (Financial Services) 6 of 15
Type (Buyout (LBO, MBO, MBI)) 4 of 11
Country (United Kingdom) 7 of 19
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-01 Link Loans

United Kingdom

Link Loans Ltd. is a provider of secured loans for homeowners.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Arrow Global Group

Manchester, United Kingdom

Arrow Global Group provides debt purchase and receivables management solutions in the United Kingdom. Arrow Global Group was founded in 2005 and is based in Manchester, the United Kingdom.

Sell -
Mergr

Product

Company

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