M&A Deal Summary

Stockwell Capital, Centerview Capital, The Blackstone Group, The Carlyle Group, Hellman & Friedman, KKR, Thomas H. Lee Partners, Ardian and HarbourVest Partners Acquire Nielsen

On May 21, 2006, private equity firm Stockwell Capital, growth capital firm Centerview Capital, private equity firm The Blackstone Group, private equity firm The Carlyle Group, private equity firm Hellman & Friedman, private equity firm KKR, private equity firm Thomas H. Lee Partners, private equity firm Ardian and private equity firm HarbourVest Partners acquired information services company Nielsen for 12.7B USD

Acquisition Highlights
  • This is Stockwell Capital’s 1st, Centerview Capital’s 1st, The Blackstone Group’s 1st, The Carlyle Group’s 1st, Hellman & Friedman’s 1st, KKR’s 1st, Thomas H. Lee Partners’ 1st, Ardian’s 1st and HarbourVest Partners’ 1st transaction in the Information Services sector.
  • This is Stockwell Capital’s 5th, Centerview Capital’s , The Blackstone Group’s 9th, The Carlyle Group’s 5th, Hellman & Friedman’s 3rd, KKR’s 6th, Thomas H. Lee Partners’ 3rd, Ardian’s 6th and HarbourVest Partners’ 3rd largest (disclosed) transaction.
  • This is Stockwell Capital’s 16th, Centerview Capital’s 1st, The Blackstone Group’s 66th, The Carlyle Group’s 134th, Hellman & Friedman’s 18th, KKR’s 28th, Thomas H. Lee Partners’ 18th, Ardian’s 5th and HarbourVest Partners’ 22nd transaction in the United States.
  • This is Stockwell Capital’s 1st, Centerview Capital’s 1st, The Blackstone Group’s 7th, The Carlyle Group’s 5th, Hellman & Friedman’s 3rd, KKR’s 4th, Thomas H. Lee Partners’ 3rd, Ardian’s 1st and HarbourVest Partners’ 3rd transaction in New York.
Investment Fate
  • Nielsen went public in 2011.
  • Nielsen was sold to a consortium of buyers in 2022 for 16.0B USD.

M&A Deal Summary

Date 2006-05-21
Target Nielsen
Sector Information Services
Buyer(s) Stockwell Capital
Centerview Capital
The Blackstone Group
The Carlyle Group
Hellman & Friedman
KKR
Thomas H. Lee Partners
Ardian
HarbourVest Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 12.7B USD

Target

Nielsen

New York, New York, United States
website
Nielsen office in Columbia, Maryland.
Nielsen office in Columbia, Maryland.
Nielsen is a global information and measurement company that provides clients with a comprehensive understanding of consumers and consumer behaviour. Nielsen delivers critical media and marketing information, analytics, and industry expertise about what consumers buy and what consumers watch (consumer interaction with television, online and mobile) on a global and local basis. Nielsen was founded in 1923 and is based in New York City.

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Buyer(S) 9

Buyer

Stockwell Capital

Austin, Texas, United States

Investor Investor

website


Category Private Equity Firm
Founded 2002
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stockwell Capital is a co-investment firm, focused on making minority investments alongside private equity sponsors. Stockwell is a generalist investor, with no sector preferences and looks to commit $3 to $10 million per investment. The Firm will consider opportunities throughout the US and Europe and prefers late-stage or growth equity situations. Stockwell Capital was formed in 2002 and is based in Chicago.


DEAL STATS #
Overall 21 of 44
Sector (Information Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 9 of 13
State (New York) 1 of 3
Country (United States) 16 of 35
Year (2006) 4 of 10
Size (of disclosed) 5 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-03 The Sports Authority

Englewood, Colorado, United States

The Sports Authority, Inc. is a provider of full-line sporting goods retailers offering a comprehensive high-quality assortment of brand name sporting apparel and equipment at competitive prices. The company operates over 400 stores in 45 states. The Sports Authority, Inc. was formed in 1928 and is based in Englewood, Colorado.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-14 Petco Health and Wellness Company

San Diego, California, United States

Petco Health and Wellness Company is a health and wellness company focused on improving the lives of pets, pet parents, and their own Petco partners. The company is focused on delivering comprehensive wellness solutions through its products and services, and creating communities that deepen the pet-pet parent bond. It operates more than 1,500 Petco locations across the U.S., Mexico, and Puerto Rico, including a growing network of more than 100 in-store veterinary hospitals, and offer a complete online resource for pet health and wellness. Petco Health and Wellness Company was founded in 1965 and is based in San Diego, California.

Buy $1.8B
Buyer

Centerview Capital

Palo Alto, California, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2006
Size Large
Type Sector Agnostic
DESCRIPTION

Centerview Capital Holdings is a private equity firm focused on investing in high-growth consumer and technology companies. The Firm's consumer group looks to commit $50 to $150 million through minority and majority investments in businesses operating in the food & beverage, household & consumer products, personal care/health & wellness, and consumer services sectors. The Firm's technology group looks to partner with management teams to accelerate growth. Centerview Capital is affiliated with investment bank Centerview Partners and is based in Menlo Park, California.


DEAL STATS #
Overall 1 of 8
Sector (Information Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (New York) 1 of 1
Country (United States) 1 of 8
Year (2006) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-22 Planful

San Francisco, California, United States

Planful is a provider of complete suite of enterprise performance management solutions built from the ground up as cloud-based applications. Planful was founded in 2000 and is based in San Francisco, California.

Buy -
Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 94 of 327
Sector (Information Services) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 38 of 74
State (New York) 7 of 22
Country (United States) 66 of 206
Year (2006) 4 of 16
Size (of disclosed) 9 of 168
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-05 Cumulus Media Partners

Atlanta, Georgia, United States

Cumulus Media Partners, LLC owns and operates radio broadcasting stations. The company, through its AM and FM radio stations, serves listeners, communities, advertisers, and agencies in Dallas, Houston, San Francisco, Atlanta, Cincinnati, Indianapolis, York, Albemarle, and Anniston. The company was formerly known as Susquehanna Radio Corp. and it changed its name to Cumulus Media Partners, LLC in May, 2006.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-30 ReAble Therapeutics

Austin, Texas, United States

ReAble Therapeutics, Inc. is a diversified rehabilitation and orthopedic devices company that develops, manufactures and distributes a comprehensive range of electrotherapy, traction, chiropractic and iontophoresis devices, in addition to a broad line of orthopedic implants, used by orthopedic surgeons, physicians, therapists and other healthcare professionals to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events and sports-related injuries.

Buy $870M
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 229 of 695
Sector (Information Services) 1 of 7
Type (Buyout (LBO, MBO, MBI)) 97 of 202
State (New York) 5 of 24
Country (United States) 134 of 336
Year (2006) 20 of 52
Size (of disclosed) 5 of 133
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-17 Transics International NV

Leper, Belgium

Transics International NV provides telematics solutions for the road transport industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-31 Centrata

Redwood City, California, United States

Centrata delivers a suite of tools to help data center operators manage the entire service delivery lifecycle.

Sell -
Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 23 of 87
Sector (Information Services) 1 of 6
Type (Buyout (LBO, MBO, MBI)) 6 of 15
State (New York) 3 of 8
Country (United States) 18 of 60
Year (2006) 3 of 8
Size (of disclosed) 3 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-05 Artisan Partners Distributors

Milwaukee, Wisconsin, United States

Artisan Partners Limited Partnership is a leading independent, multi-product investment management firm that currently manages approximately $50 billion in assets. The Company, founded in 1994, has investment teams located in Milwaukee (its headquarters), San Francisco, and Atlanta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-25 Gartmore Group

Grand Cayman, Cayman Islands

Gartmore Investment Management plc is a independent, multi-product asset management firm providing long-only and alternative investment products to retail and institutional investors in the UK, Continental Europe, the U.S., Japan, and Latin America.

Buy -
Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 45 of 434
Sector (Information Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 14 of 58
State (New York) 4 of 18
Country (United States) 28 of 192
Year (2006) 6 of 13
Size (of disclosed) 6 of 94
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-18 Aricent

Santa Clara, California, United States

Aricent is a global digital leader in integrated design and engineering services, primarily serving clients of the Communications and Technology, Semiconductor and Software industries. Headquartered in Santa Clara (California), Aricent brings design and engineering capabilities to help its clients get to market faster, transform legacy products to digital, and create new revenue opportunities. Among the company’s assets is the iconic brand frog, which has with world-class design and client experience capabilities, outstanding knowledge and intellectual property for the Telecom, Software and Semiconductors industries. Aricent also has solid experience in shaping large engineering outsourcing deals and key capabilities in key emerging technologies including Artifical Intelligence, Cognitive Systems, Internet of Things and software frameworks.

Buy $900M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 BIS Industries

Sydney, Australia

BIS Industries is a provider of specialized logistics and materials handling solutions for the world’s biggest mining and resource companies.

Buy -
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 26 of 89
Sector (Information Services) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 10 of 17
State (New York) 3 of 6
Country (United States) 18 of 76
Year (2006) 4 of 6
Size (of disclosed) 3 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-05 Cumulus Media Partners

Atlanta, Georgia, United States

Cumulus Media Partners, LLC owns and operates radio broadcasting stations. The company, through its AM and FM radio stations, serves listeners, communities, advertisers, and agencies in Dallas, Houston, San Francisco, Atlanta, Cincinnati, Indianapolis, York, Albemarle, and Anniston. The company was formerly known as Susquehanna Radio Corp. and it changed its name to Cumulus Media Partners, LLC in May, 2006.

Buy $1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-31 Intrado

Omaha, Nebraska, United States

Intrado is a cloud-based, global technology partner to clients around the world. The Company's solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight. Intrado was formed in 1986 and is based in Omaha, Nebraska.

Buy $3.0B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 51 of 418
Sector (Information Services) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 28 of 107
State (New York) 1 of 3
Country (United States) 5 of 59
Year (2006) 14 of 36
Size (of disclosed) 6 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-01 Vulcanic

Neuilly sur Marne, France

Vulcanic is a designer and manufacturer of low and medium-volume series of electrical heating and cooling solutions for the industry (heating elements, industrial radiators, thermo regulators, etc. Vulcanic was founded in 1956 and is based in Neuilly Sur Marne, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-31 Limoni

Bentivoglio, Italy

Limoni is an Italian perfumery retail sector with a network of over 500 stores and an emerging presence in Croatia and Slovenia. Limoni also operates as a wholesaler to smaller independent perfumeries and as an exporter to international markets. Limoni is based in Bentivoglio, Italy.

Buy -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 35 of 222
Sector (Information Services) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 9 of 40
State (New York) 3 of 10
Country (United States) 22 of 133
Year (2006) 6 of 14
Size (of disclosed) 3 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-18 Nuera Communications

Somerset, New Jersey, United States

Nuera Communications - a provider of Voice-over-Internet Protocol (VoIP) infrastructure solutions.

Sell $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-12 Flash Networks

Neptune, New Jersey, United States

Flash Networks is a provider of optimization solutions that enable telecommunications operators to improve Radio Access Network spectral efficiency, boost network speed, optimize video and web traffic, and generate over-the-top revenues from the mobile internet. Flash Networks was formed in 1996 and is based in Neptune, New Jersey.

Buy -