CBPE Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, CBPE Capital has acquired 2 companies. It has also invested in 6 others.

CBPE Capital’s most common sectors for investment are chemicals (11%) and healthcare services (11%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (66%) and growth capital (18%). In total, CBPE Capital has invested in 4 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired Sparrows Offshore Group for $219M.

In the last 3 years, CBPE Capital has exited 9 companies. The Firm’s most common exit type is secondary buyout (36%). CBPE Capital’s largest (disclosed) exit occurred in 2007 when it sold Park Resorts for $677M.

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M&A Summary

  • M&A Total Activity80
    • M&A Buy Activity46
    • M&A Sell Activity34
  • Total Sectors Invested 21
  • Total Countries Invested 4
  • M&A Buy/Sell Connections 10
  • M&A Advisors 9

CBPE Capital LLP

2 George Yard,
London, EC3V 9DH
United Kingdom
+44 (0) 20 7065 1100
www.cbpecapital.com
enquiries@cbpel.com

Close Brothers Private Equity (CBPE) is a private equity firm that seeks investments in mid-sized UK based businesses. Close Brothers focuses on transactions valued of between £25 million and £150 million and will consider opportunities in a variety of industries. Sectors of interest include support services (inspection testing, training/education, oil/gas services, business process outsourcing, IT, environmental services, utility services); transportation/distribution (transport infrastructure, transport services, wholesale and distribution); consumer (food/beverage, household products, media, retail); industrial (chemicals, building products, electronics/engineering, paper, packaging, aerospace/defense, automotive, capital goods); healthcare (pharmaceuticals, medical products, diagnostics); and leisure (restaurants, gaming, holiday parks, cinemas, hotels). Since 1984 CBPE was a unit of Close Brothers Group plc, a UK listed independent merchant bank and became independent in 2008. CBPE is based in London.


Investment Criteria

Sectors of Interest: Aerospace, Automotive, Building Materials, Business Services, Chemicals, Consumer Products, Consumer Services, Defense, Distribution, Education, Engineering, Financial Services, Food, Furniture, Healthcare Services, Information Technology, Insurance, Leisure, Life Science, Machinery, Manufacturing, Marine, Media, Packaging, Retail, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

Geographic Preferences: United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value 25 150
values in millions of GBP

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.0/yr) # 36 2 3 1 3 1 46
vol $907M $907M
Sell (1.8/yr) # 25 - 5 1 - 3 34
vol $4.1B $585M $4.7B
  80

Most Recent M&A

Company Date Value Type
SpaMedica Ltd. 2020-03-17 - Secondary Buyout
Bolton, United Kingdom · www.spamedica.co.uk
ABI (UK) Ltd. 2020-02-05 - Secondary Buyout
Beverley, United Kingdom · www.abiuk.co.uk
ETL Systems 2020-01-28 - Growth Capital
Hereford, United Kingdom · www.etlsystems.com
Allied Glass Containers Ltd. 2020-01-07 - Secondary Buyout
Leeds, United Kingdom · www.allied-glass.com
Centralis S.A 2019-10-03 - Growth Capital
Luxembourg, Luxembourg · www.centralisgroup.com
Simbec-Orion Group Ltd. 2019-02-04 - Growth Capital
Merthyr Tydfil, United Kingdom · www.simbecorioncro.com
IDEAL Industries Networks Ltd. 2019-01-07 - Buyout (LBO, MBO, MBI)
High Wycombe, United Kingdom · www.idealnetworks.net
Chas A Blatchford & Sons Ltd. 2018-11-20 - Growth Capital
Basingstoke, United Kingdom · www.blatchford.co.uk
sofa.com 2018-04-12 - Add-on Acquisition
London, United Kingdom · www.sofa.com
Rodericks Dental Ltd. 2017-09-13 - Growth Capital
Northampton, United Kingdom · www.rodericksdental.co.uk
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Kane (Guernsey) Ltd. 2011-03-10 Kane (Guernsey) - Insurance Management Operations 2016-03-21 1
Guernsey, United Kingdom · www.kane-group.com , United Kingdom
Compre Holdings Ltd. 2015-02-02 Gjensidige Marine and Energy Insurance A/S 2016-02-15 1
London, United Kingdom · www.compre-group.com Oslo, Norway

M&A by Sector

Sector Current # Value All-time # Value
Chemicals 1 (8%) - 5 (11%) 248M (27%)
Healthcare Services 3 (25%) - 5 (11%) -
Distribution - - 4 (9%) 126M (14%)
Business Services - - 4 (9%) 35M (4%)
Furniture - - 3 (7%) 123M (14%)
Leisure - - 3 (7%) 71M (8%)
Information Technology 2 (17%) - 3 (7%) -
Machinery - - 2 (4%) 219M (24%)
Engineering - - 2 (4%) 85M (9%)
Financial Services 2 (17%) - 2 (4%) -
Life Science 1 (8%) - 2 (4%) -
Packaging - - 2 (4%) -
Building Materials - - 1 (2%) -
Construction - - 1 (2%) -
Education - - 1 (2%) -
Insurance 1 (8%) - 1 (2%) -
Marine - - 1 (2%) -
Medical Products 1 (8%) - 1 (2%) -
Restaurants - - 1 (2%) -
Technology Hardware 1 (8%) - 1 (2%) -
Test/Measurement Equipment - - 1 (2%) -
Total 12 - 46 $907M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 10 (83%) - 43 (93%) 857M (95%)
Germany 1 (8%) - 1 (2%) -
Luxembourg 1 (8%) - 1 (2%) -
Australia - - 1 (2%) 49M (5%)
Domestic 10 (83%) - 43 (93%) 857M (95%)
Cross-border 2 (17%) - 3 (7%) 49M (5%)
Total 12 - 46 $907M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 3 (25%) - 30 (65%) 861M (95%)
Growth Capital 7 (58%) - 8 (17%) -
Secondary Buyout 1 (8%) - 6 (13%) -
Divestiture 1 (8%) - 2 (4%) 46M (5%)
Total 12 - 46 $907M

Exits by Deal Type

Type Total # Value
Secondary Sale 15 (44%) 2.4B (51%)
Trade Sale 8 (24%) 327M (7%)
Trade Sale - Public Company 5 (15%) 1.4B (29%)
Unknown 3 (9%) -
IPO 2 (6%) 585M (12%)
Sold to Management 1 (3%) 62M (1%)
Total 34 $4.7B

Top M&A Advisors

Financial Deals
Rothschild Global Advisory
2
Daiwa Corporate Advisory Ltd. (DC Advisory)
2
Duff & Phelps Corp.
1
Legal Deals
Reed Smith LLP
3
DLA Piper
1
Addleshaw Goddard LLP
1

Deal Values

buy # Total
$100M to $1B 2 $417M
< $100M 8 $490M
TOTAL $907M
Largest Sparrows Offshore Group Ltd.
$219M (2008-03-31)
sell # Total
$100M to $1B 14 $4.4B
< $100M 6 $255M
TOTAL $4.7B
Largest Park Resorts Ltd.
$677M (2007-03-21)

M&A Connections

Deals %
Acquired from
PE Firm(s)
75%
6 75%
Strategic(s)
25%
2 25%
Exited to
PE Firm(s)
68%
15 68%
Strategic(s)
32%
7 32%

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