Change Capital Partners Mergers and Acquisitions Summary

Private Equity Profile

Change Capital Partners’ most common sectors for investment are apparel/textiles (37%) and furniture (19%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (37%) and secondary buyout (28%). In total, Change Capital Partners has invested in 5 different countries. Its largest (disclosed) acquisition occurred in 2004 when it acquired Hillarys Blinds for $177M.

The Firm’s most common exit type is trade sale (60%). Change Capital Partners’ largest (disclosed) exit occurred in 2010 when it sold Republic for $462M.

Join Mergr to view Change Capital Partners’ full profile and discover more middle-market private equity firms just like it.

M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity11
    • M&A Sell Activity5
  • Total Sectors Invested 6
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 6
  • M&A Advisors 7

Change Capital Partners

91 Wimpole Street,
London, W1G 0EF
United Kingdom,
44 020 7808 9110
www.changecapitalpartners.com
info@changecapitalpartners.com

Change Capital Partners LLP (CCP) is a specialist private equity firm that invests in mid-market retail and consumer goods businesses throughout Europe. CCP seeks controlling positions and looks to invest €20 to €50 million in companies valued from €20 to €250 million. The Firm will consider a variety of transaction situations, including buyouts, corporate divestitures, turnarounds and take privates. Change Capital Partners LLP was formed in 2003 and is based in London.


Investment Criteria

Sectors of Interest: Apparel/Textiles, Consumer Products, Distribution, Food, Furniture, Restaurants, Retail

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Special Situations/Distressed, PIPE, Secondary Buyout, Stake Purchase

Geographic Preferences: United Kingdom, Western Europe, Eastern Europe

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 20 50
Enterprise Value 20 250
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.0/yr) # 11 - - - - - 11
vol $522M $522M
Sell (0.0/yr) # 5 - - - - - 5
vol $1.2B $1.2B
  16

Most Recent M&A

Company Date Value Type
Macduff Shellfish (Scotland) Ltd. 2015-10-12 151M GBP Add-on Acquisition
Aberdeenshire , United Kingdom · www.macduffshellfish.co.uk
Hallhuber GmbH 2014-12-22 - Add-on Acquisition
Munich, Germany · www.hallhuber.de
Frette Srl 2014-07-15 - Stake Purchase
Monza, Milan, Italy · www.frette.com
Paule Ka SAS 2011-07-18 - Stake Purchase
Paris, France · www.pauleka.com
Macduff Shellfish (Scotland) Ltd. 2011-04-15 - Growth Capital
Aberdeenshire , United Kingdom · www.macduffshellfish.co.uk
SCHNEEKOPPE GmbH & Co. KG 2011-02-16 - Buyout (LBO, MBO, MBI)
Buchholz, · www.schneekoppe.com
SEBETO S.p.A. 2011-01-20 61M EUR Secondary Buyout
Naples, 205, Italy · www.rossopomodoro.it
Republic (Retail) Ltd. 2010-06-19 462M GBP Secondary Buyout
Leeds, United Kingdom · www.republic.co.uk
Hallhuber GmbH 2009-08-19 28M EUR Divestiture
Munich, Germany · www.hallhuber.de
Jil Sander Italia S.p.A 2008-09-01 188M EUR Add-on Acquisition
Milan, Italy · www.jilsander.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Apparel/Textiles 2 (50%) - 4 (36%) 28M (5%)
Retail - - 2 (18%) 256M (49%)
Furniture - - 2 (18%) 177M (34%)
Restaurants 1 (25%) 61M (100%) 1 (9%) 61M (12%)
Distribution - - 1 (9%) -
Food 1 (25%) - 1 (9%) -
Total 4 $61M 11 $522M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Italy 2 (67%) 61M (100%) 4 (40%) 61M (12%)
United Kingdom - - 4 (40%) 433M (83%)
France 1 (33%) - 1 (10%) -
Germany - - 1 (10%) 28M (5%)
Domestic - - 4 (40%) 433M (83%)
Cross-border 3 (100%) 61M (100%) 6 (60%) 89M (17%)
Total 3 $61M 10 $522M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 1 (25%) - 4 (36%) 94M (18%)
Secondary Buyout 1 (25%) 61M (100%) 3 (27%) 400M (77%)
Stake Purchase 2 (50%) - 2 (18%) -
Divestiture - - 1 (9%) 28M (5%)
Growth Capital - - 1 (9%) -
Total 4 $61M 11 $522M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 3 (60%) 340M (29%)
Secondary Sale 2 (40%) 842M (71%)
Total 5 $1.2B

Top M&A Advisors

Financial Deals
KPMG Corporate Finance LLC
1
Fineurop Soditic S.p.A.
1
Leonardo & Co.
1
Legal Deals
Kirkland & Ellis LLP
2
Weil Gotshal & Manges LLP
1
Burness Paull LLP
1

Deal Values

buy # Total
$100M to $1B 2 $339M
< $100M 3 $183M
TOTAL $522M
Largest Hillarys Blinds Ltd.
$177M (2004-08-01)
sell # Total
$100M to $1B 4 $1.2B
TOTAL $1.2B
Largest Republic (Retail) Ltd.
$462M (2010-06-19)

M&A Connections

Deals %
Acquired from
PE Firm(s)
80%
4 80%
Strategic(s)
20%
1 20%
Exited to
PE Firm(s)
50%
3 50%
Strategic(s)
50%
3 50%

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