M&A Deal Summary

Brait SE Acquires New Look Retail Group

On May 15, 2015, private equity firm Brait SE acquired retailer New Look Retail Group from Apax, Advent International and Permira for 780M GBP

Acquisition Highlights
  • This is Brait SE’s 3rd transaction in the Retail sector.
  • This is Brait SE’s 0th largest (disclosed) transaction.
  • This is Brait SE’s 3rd transaction in the United Kingdom.

M&A Deal Summary

Date 2015-05-15
Target New Look Retail Group
Sector Retail
Buyer(s) Brait SE
Sellers(s) Apax
Advent International
Permira
Deal Type Secondary Buyout
Deal Value 780M GBP
Advisor(s) Goldman Sachs
J.P. Morgan Securities (Financial)
Clifford Chance (Legal)

Target

New Look Retail Group

London, United Kingdom
website
New Look Retail Group Ltd. is a specialty retailer of value fashion apparel and is the second largest womenswear retailer in the UK and now has over 1,000 stores worldwide, in the UK and Republic of Ireland, Europe, the Middle East, Singapore, Russia, and Poland. New Look was founded in 1969 and is based in London, United Kingdom.

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Buyer(S) 1

DESCRIPTION

Brait is an investment holding company focused on realising growth and value creation from its existing portfolio of sizeable, unlisted businesses operating in the broad consumer sector. Brait’s share are primarily listed on the Luxembourg Stock Exchange, with a secondary listing on the JSE. Brait Private Equity was founded in 1991and is located in San Gwann, Malta.


DEAL STATS #
Overall 22 of 22
Sector (Retail) 3 of 3
Type (Secondary Buyout) 3 of 3
Country (United Kingdom) 3 of 3
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-16 Virgin Active

London, United Kingdom

Virgin Active is an international health club operator, with clubs across four continents in eight countries (South Africa, UK, Italy, Australia, Namibia, Botswana, Thailand, and Singapore), serving over 1.2 million members worldwide. Virgin Active Ltd. was founded in 1999 and is based in London, United Kingdom.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 Primedia

Sandown, South Africa

Formed in 1994, Primedia (Pty) Ltd. is a South African focused media and advertising group targeting premium consumers on the move. The company has a broad portfolio of broadcasting and out-of-home assets, covering a wide range of advertising opportunities including radio stations and in-mall media.

Sell -

Seller(S) 3

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
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 104 of 164
Sector (Retail) 6 of 9
Type (Secondary Buyout) 30 of 61
Country (United Kingdom) 17 of 23
Year (2015) 4 of 9
Size (of disclosed) 14 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-13 Shriram City

Chennai, India

Shriram City is a Non-Banking Financial Company (NBFC) that was incorporated in 1986, and is a part of Shriram Group. Shriram City is providing specialized services in retail & Micro Small & Medium Enterprise (MSME) lending. Shriram City was formed in 1986 and is based in Chennai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-31 Zap Group

Petah Tikva, Israel

Zap Group is a consumer internet group that operates yellow pages and price comparison websites in the country, and several other niche websites in various areas including restaurants, wedding planning, doctors, and many others. The company has over 20 websites in total. Zap Group was formed in 1968 and is based in Petah Tikva, Israel.

Buy -
SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 148 of 209
Sector (Retail) 11 of 16
Type (Secondary Buyout) 38 of 55
Country (United Kingdom) 20 of 26
Year (2015) 6 of 13
Size (of disclosed) 12 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-12 KAI Group

Bulgaria

KAI Group is the largest Bulgarian manufacturer of ceramic tiles and the only manufacturer of glazed and unglazed porcelain tiles on the Balkan Peninsula. The Group was incorporated in 1997 and unites the plants Khan Asparuh – Isperih and Khan Omurtag – Shumen. The product range includes wall and floor ceramic tiles,

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-18 Lowell

Harlow, United Kingdom

Lowell is a credit management services group. The Group’s expertise in the debt recovery segment ranges from the trust management of commercial and credit receivables through to evaluating, taking over and handling personal loans and mortgages.

Sell €600M
SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 53 of 89
Sector (Retail) 5 of 7
Type (Secondary Buyout) 15 of 28
Country (United Kingdom) 17 of 18
Year (2015) 3 of 4
Size (of disclosed) 19 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-20 Iglo Foods Holdings

Feltham, United Kingdom

Iglo Foods Holdings Ltd. is a food company.

Sell €2.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-18 Lowell

Harlow, United Kingdom

Lowell is a credit management services group. The Group’s expertise in the debt recovery segment ranges from the trust management of commercial and credit receivables through to evaluating, taking over and handling personal loans and mortgages.

Buy €600M