M&A Deal Summary

Thomas H. Lee Partners, Warburg Pincus, CCMP Capital and Goldman Sachs Merchant Banking Acquire Aramark

On January 26, 2007, private equity firms Thomas H. Lee Partners, Warburg Pincus, CCMP Capital and Goldman Sachs Merchant Banking acquired business services company Aramark for 8.3B USD

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 1st, Warburg Pincus’ 9th, CCMP Capital’s 8th and Goldman Sachs Merchant Banking’s 3rd transaction in the Business Services sector.
  • This is Thomas H. Lee Partners’ 4th, Warburg Pincus’ , CCMP Capital’s and Goldman Sachs Merchant Banking’s 6th largest (disclosed) transaction.
  • This is Thomas H. Lee Partners’ 21st, Warburg Pincus’ 63rd, CCMP Capital’s 58th and Goldman Sachs Merchant Banking’s 25th transaction in the United States.
  • This is Thomas H. Lee Partners’ 3rd, Warburg Pincus’ 2nd, CCMP Capital’s 4th and Goldman Sachs Merchant Banking’s 5th transaction in Pennsylvania.
Investment Fate
  • Aramark went public in 2013.

M&A Deal Summary

Date 2007-01-26
Target Aramark
Sector Business Services
Buyer(s) Thomas H. Lee Partners
Warburg Pincus
CCMP Capital
Goldman Sachs Merchant Banking
Deal Type Going Private
Deal Value 8.3B USD

Target

Aramark

Philadelphia, Pennsylvania, United States
website
Aramark supply vehicle in Superior, Wisconsin.
Aramark supply vehicle in Superior, Wisconsin.
Aramark is a professional services, providing food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, businesses and government departments and agencies. Aramark was incorporated in 1959 and is headquartered in Philadelphia, Pennsylvania.

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Buyer(S) 4

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 29 of 89
Sector (Business Services) 1 of 4
Type (Going Private) 1 of 5
State (Pennsylvania) 3 of 8
Country (United States) 21 of 76
Year (2007) 1 of 3
Size (of disclosed) 4 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-14 ProSiebenSat.1 Media

Unterfohring, Germany

ProSiebenSat.1 Media is a media company that operates 27 TV channels in 10 countries. The Entertainment segment operates free TV stations, such as SAT.1, ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku, as well as distributes ProSiebenSat.1 HD stations. ProSiebenSat.1 Media was founded in 1984 and is based in Unterfohring, Germany.

Sell $3.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-27 Univision

New York, New York, United States

Univision entertains, informs, and empowers U.S. Hispanics with news, sports, and entertainment content across broadcast and cable television, audio, and digital platforms. The company’s top-rated media portfolio includes the Univision and UniMás broadcast networks, as well as cable networks Galavisión and TUDN, the No. 1 Spanish-language sports network in the country. Locally, Univision owns or operates 65 television stations in major U.S. Hispanic markets and Puerto Rico. Additionally, Uforia, the Home of Latin Music, encompasses 58 owned or operated radio stations, plus 89 affiliates, a live event series, and a robust digital audio footprint. Univision was formed in 1992 and is based in New York, New York.

Buy $13.7B
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 109 of 478
Sector (Business Services) 9 of 19
Type (Going Private) 2 of 11
State (Pennsylvania) 2 of 9
Country (United States) 63 of 235
Year (2007) 2 of 19
Size (of disclosed) 1 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Arch Capital

Pembroke, Bermuda

Arch Capital is a publicly traded reinsurance and insurance company based in Bermuda. The proceeds of this financing were used to launch a major underwriting initiative to meet current and future demand in the global insurance marketplace. H&F was attracted to this investment because of the unique combination of the attractive market opportunity, the world-class underwriting team and our ability to create a clean insurance platform based in Bermuda. Hellman & Friedman had previously partnered with Bob Clements to found Mid Ocean Reinsurance in 1992 following Hurricane Andrew. Arch Capital was founded in 1995 and is based in Pembroke, Bermuda.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 APT Generation

Omaha, Nebraska, United States

APT Generation LLC owned three relatively new natural gas-fired electricity generation plants known as Armstrong (western Pennsylvania), Pleasants (West Virginia), and Troy (northwestern Ohio) with combined capacity of 1,538 megawatts. These facilities utilize modern simple-cycle generation technology which is efficient, reliable and flexible.

Buy -
Buyer

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.


DEAL STATS #
Overall 72 of 97
Sector (Business Services) 8 of 10
Type (Going Private) 1 of 2
State (Pennsylvania) 4 of 6
Country (United States) 58 of 75
Year (2007) 1 of 5
Size (of disclosed) 1 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-03 BrandSafway

Atlanta, Georgia, United States

BrandSafway is a provider of specialized services to the global energy, industrial, and infrastructure markets. Its range of service offerings includes work access, corrosion management, atmospheric and immersion coatings, insulation services, fireproofing and refractory, mechanical services, forming and shoring, and other complementary specialty services. Brand delivers its services through a network of more than 370 branches on six continents, with a focus on the major hydrocarbon and power generation markets globally. BrandSafway was founded in 1919 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-13 Pinnacle Foods

Parsippany, New Jersey, United States

Pinnacle Foods, Inc. is a manufacturer and marketer of branded convenience food products in the United States and Canada. Its product range includes frozen dinners and entrees, frozen seafood, breakfasts, bagels, pickles, peppers and relish, baking mixes and frostings, and syrups and pancake mixes.

Sell $2.2B
Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

website


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 37 of 180
Sector (Business Services) 3 of 14
Type (Going Private) 5 of 15
State (Pennsylvania) 5 of 7
Country (United States) 25 of 123
Year (2007) 3 of 21
Size (of disclosed) 6 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-11 Medical Care Consortium

Miami, Florida, United States

Medical Care Consortium, Inc. is a provider of medical management services for managed care organizations. MCCI provides high-quality primary care services on an outpatient basis through 56 facilities located in South Florida's Miami-Dade, Broward, and Palm Beach counties and nine affiliated physician groups to approximately 45,600 Medicare, Medicaid, and commercial beneficiaries. Medical Care Consortium was established in 1988 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-12 ProQuest

Ann Arbor, Michigan, United States

ProQuest is an information content and services company. ProQuest technologies serve users across the critical points in research, helping them discover, access, share, create and manage information. ProQuest was formed in 1938 and is based in Ann Arbor, Michigan.

Buy $222M