M&A Deal Summary

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

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

Acquisition Highlights
  • This is Castle Harlan’s 2nd, The Halifax Group’s 1st and Caird Capital’s 1st transaction in the Plastics sector.
  • This is Castle Harlan’s 3rd, The Halifax Group’s and Caird Capital’s 0th largest (disclosed) transaction.
  • This is Castle Harlan’s 1st, The Halifax Group’s 2nd and Caird Capital’s 7th 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
Sector Plastics
Buyer(s) Castle Harlan
The Halifax Group
Caird Capital
Sellers(s) The Rinker Group
Deal Type Divestiture
Deal Value 293M GBP
Advisor(s) Brown Gibbons Lang & Co. (Financial)

Target

Polypipe Group

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

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
Size Mega
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 7
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

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

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 -
Buyer

The Halifax Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 1.5B USD
Size Large
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 39
Sector (Plastics) 1 of 1
Type (Divestiture) 1 of 3
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

Charlotte, North Carolina, United States

Meineke is a franchise-based international automotive repair chain with over 750 locations and a 50-year history of delivering consistent and high-quality repair and preventative maintenance services. Meineke CARSTAR is based in Charlotte, North Carolina.

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

Columbia, Maryland, United States

Soil Safe is an environmental service company engaged in the treatment and recycling of contaminated soil. Soil Safe was founded in 1989 and is based in Columbia, Maryland.

Sell $147M
Buyer

Caird Capital

Investor Investor

website

Category Private Equity Firm
Size Small
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) 7 of 27
Year (2005) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-01 McColl s

Brentwood, United Kingdom

McColl's Retail Group is a neighbourhood retailer serving the convenience and newsagent sectors with a strong national presence across the UK. McColl's was founded in 1901 and is based in Brentwood, the United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Steelite

Staffordshire, 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 Staffordshire, United Kingdom.

Buy $43M

Seller(S) 1

SELLER

The Rinker Group

Australia
Category Company
Sector Building 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
Mergr

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