M&A Deal Summary

Caird Capital, The Halifax Group and Castle Harlan Acquires Polypipe Group

On September 5, 2005, private equity firms Caird Capital, The Halifax Group, LLC and Castle Harlan acquired plastics company Polypipe Group plc from The Rinker Group for 293M GBP

Acquisition Highlights
  • This is Caird Capital’s 1st, The Halifax Group’s 1st and Castle Harlan’s 2nd transaction in the Plastics sector.
  • This is Caird Capital’s 0th, The Halifax Group’s 1st and Castle Harlan’s 3rd largest (disclosed) transaction.
  • This is Caird Capital’s 6th, The Halifax Group’s 2nd and Castle Harlan’s 1st transaction in the United Kingdom.
Investment Fate
  • Polypipe Group was sold to a strategic buyer in 2012.

M&A Deal Summary

Date 2005-09-05
Target Polypipe Group plc
Sector Plastics
Buyer(s) Caird Capital
The Halifax Group, LLC
Castle Harlan
Sellers(s) The Rinker Group
Deal Type Divestiture
Deal Value 293M GBP
Advisor(s) Brown Gibbons Lang & Co. (Financial)

Target

Polypipe Group plc

Doncaster, United Kingdom
website
Polypipe Group is a manufactures and sells pressure-rated high density polyethylene pipes. The company's products are used in natural gas distribution, oil and gas gathering, municipal water and waste water, industrial and mining, nuclear power, landfill, and irrigation markets. Polypipe Group was founded in 1980 and is based in Doncaster, the United Kingdom.

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Buyer(S) 3

Buyer

Caird Capital

Investor Investor

website


Category Private Equity Firm
SizeSmall
Type Sector Agnostic
DESCRIPTION

Caird Capital LLP is a private equity firm focused on acquiring and investing in UK-based middle-market companies. Caird does not have any sector preferences. Caird Capital is based in London.


DEAL STATS #
Overall 7 of 29
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 2
Country (United Kingdom) 6 of 26
Year (2005) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 McColl's Retail Group Ltd.

Brentwood,

McColl's Retail Group Ltd. is a neighbourhood retailer serving the convenience and newsagent sectors with a strong national presence across the UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Steelite International Ltd.

London, United Kingdom

Steelite is a manufacturer, designer, distributor, and supplier of award-winning tabletop and buffet products for the hospitality and foodservice industries. Steelite was founded in 1983 and is based in London, United Kingdom.

Buy $43M
Buyer

The Halifax Group, LLC

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.5B USD
SizeLarge
Type Sector Agnostic
DESCRIPTION

The Halifax Group is a private equity firm focused on investing in established, profitable, and growing companies. The Firm prefers completing transactions in partnership with management and typically looks to invest $40 to $80 million per acquisition. Prospective companies generally have revenues of at least $20 million and EBITDA greater than $5 million. Sectors of interest include business services, healthcare services, infrastructure services, and 'wellness' products and services. Halifax prefers opportunities located in North America. The Halifax Group was formed in 1999 and is based in Washington, DC, with additional offices in Dallas, Texas and Raleigh, North Carolina.


DEAL STATS #
Overall 9 of 35
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 2
Country (United Kingdom) 2 of 4
Year (2005) 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-15 Meineke Car Care Centers, Inc.

Charlotte, North Carolina, United States

Meineke Car Care Centers provides oil change and car maintenance services in Canada and the United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-15 Soil Safe, Inc.

Columbia, Maryland, United States

Soil Safe, Inc., an environmental service company, is engaged in the treatment and recycling of contaminated soil.

Sell $147M
Buyer

Castle Harlan

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 6.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Castle Harlan is a large private equity firm that targets private company investments in the US and Australia. Castle Harlan targets businesses in a wide range of industries that include, packaging, industrial services, manufacturing, restaurants, business services, distribution, publishing, and transportation. Castle Harlan can provide both equity and mezzanine capital. The Firm is affiliated with Australian private equity firm CHAMP Private Equity, and together formed CHAMP - Castle Harlan Australian Mezzanine Partners. Castle Harlan was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 30 of 46
Sector (Plastics) 2 of 2
Type (Divestiture) 4 of 6
Country (United Kingdom) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 3 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-07 Charlie Brown's Corp.

Millburn, New Jersey, United States

Charlie Brown's Corporation operates steakhouse restaurants in Chatham, Denville, East Windsor, Edison, Lakewood, Maple Shade, Millburn, Old Tappan, Oradell, Scotch Plains, Silverton, Washington Township, Wayne, Westampton/Mount Holly, and Woodbury, New Jersey.

Sell $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 AUSTAR Entertainment Pty Ltd.

Brisbane, Australia

AUSTAR Entertainment Pty Ltd (Formerly Austar United Communications Ltd) the largest subscription television operator in regional and rural Australia. AUSTAR provides subscription television services in a service area of approximately 2.4m homes, one-third of Australia's total homes, primarily using digital satellite technology. AUSTAR also operates a digital cable network in Darwin.

Sell -

Seller(S) 1

SELLER

The Rinker Group

Australia

Category Company
SectorBuilding Materials
DESCRIPTION

Rinker is a 10 heavy building materials groups, with operations in aggregates, cement, concrete, asphalt and concrete pipe and products.


DEAL STATS #
Overall 1 of 1
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 1
Country (United Kingdom) 1 of 1
Year (2005) 1 of 1