M&A Deal Summary

Cinven Acquires ASK Central

On September 7, 2006, private equity firm Cinven acquired restaurant ASK Central from TDR Capital for 559M GBP

Acquisition Highlights
  • This is Cinven’s 2nd transaction in the Restaurants sector.
  • This is Cinven’s 32nd largest (disclosed) transaction.
  • This is Cinven’s 69th transaction in the United Kingdom.
Investment Fate
  • ASK Central was sold to a consortium of financial buyers in 2015 for 250M GBP.

M&A Deal Summary

Date 2006-09-07
Target ASK Central
Sector Restaurants
Buyer(s) Cinven
Sellers(s) TDR Capital
Deal Type Secondary Buyout
Deal Value 559M GBP

Target

ASK Central

Herts, United Kingdom
website
ASK Central Ltd. operates with ASK and Zizzi are names in the UK casual Italian dining market with about 120 and 90 locations respectively across the UK. ASK restaurants are situated in prime positions with each restaurant generally having a unique design.

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Buyer(S) 1

Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 108 of 181
Sector (Restaurants) 2 of 4
Type (Secondary Buyout) 10 of 52
Country (United Kingdom) 69 of 87
Year (2006) 6 of 8
Size (of disclosed) 32 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 Casema NV

The Hague, Netherlands

Casema NV is a provider of analogue TV, digital TV and broadband Internet access to its residential customers, and leased line data communications and voice telephony to its business customers.

Buy €2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-11 StayWell

Yardley, Pennsylvania, United States

Staywell is a health empowerment company that enables populations to improve health outcomes through the science of behavior change. Staywell was founded in 1978 and is headquartered in St. Paul, Minnesota.

Sell -

Seller(S) 1

SELLER

TDR Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
PE ASSETS 8.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

TDR Capital is a private equity firm that targets large companies valued from €300 million to €1.5 billion. TDR has a particular interest in under-managed, under-invested or misunderstood companies which may be transformed through greater strategic and operational focus. TDR is sector agnostic, however the Firm has a preference for opportunities in the leisure/hospitality, financial services, and business services sectors. TDR Capital was formed in 2002 and is based in London.


DEAL STATS #
Overall 5 of 11
Sector (Restaurants) 2 of 3
Type (Secondary Buyout) 3 of 5
Country (United Kingdom) 3 of 8
Year (2006) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 La Palette Rouge

Cedex, France

La Palette Rouge (LPR) provides delivery and collection services. It offers an outsourced solution with pallets that are compatible with automated production and picking systems. The company serves manufacturers of fast-moving consumer goods and retailers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Pizzaexpress

Uxbridge, United Kingdom

PizzaExpress was a popular brand and a market leader in the UK casual dining sector. It operated in the premium/authentic sector of the eat-in pizza/pasta market, in a variety of locations across the UK.

Sell -