M&A Deal Summary

Cinven Acquires Envirotainer

On July 12, 2018, private equity firm Cinven acquired automotive company Envirotainer from Armada and AAC Capital Nordic Advisory AB

Acquisition Highlights
  • This is Cinven’s 4th transaction in the Automotive sector.
  • This is Cinven’s 4th transaction in Sweden.
Investment Fate
  • Envirotainer was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2018-07-12
Target Envirotainer
Sector Automotive
Buyer(s) Cinven
Sellers(s) Armada
AAC Capital Nordic Advisory AB
Deal Type Secondary Buyout

Target

Envirotainer

Sollentuna, Sweden
Envirotainer is a provider of temperature-controlled air cargo containers. Envirotainer designs, manufactures, and leases active temperature-controlled containers used primarily for air freighting biopharma products, transporting up to two million doses of medicine per day. Envirotainer serves around 600 pharmaceutical companies worldwide, including many of the blue-chip global biopharma companies and operates from regional centres in Stockholm, Frankfurt, Dallas and Singapore, with a portfolio of around 5,800 leased containers globally. Envirotainer was founded in 1996 and is based in Sollentuna, Sweden.

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Buyer(S) 1

Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor


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 155 of 186
Sector: Automotive M&A 4 of 4
Type: Secondary Buyout M&A Deals 41 of 57
Country: Sweden M&A 4 of 6
Year: 2018 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-14 JLA

Ripponden, United Kingdom

JLA provides commercial laundry, catering and heating solutions to more than 25,000 small and medium-sized enterprise (‘SME’) customers. JLA offers a unique ‘Total Care’ proposition, which combines equipment supply with guaranteed service response times for a contracted monthly fee, providing peace of mind and value for money to a range of customers including care homes, hotels, education providers and housing associations. JLA was established in 1973 and is based in Ripponden, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-22 Medpace

Cincinnati, Ohio, United States

Medpace is a scientifically-driven, global, full-service clinical contract research organization (CRO) providing Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace’s mission is to accelerate the global development of safe and effective medical therapeutics through its high-science and disciplined operating approach that leverages local regulatory and deep therapeutic expertise across all major areas including oncology, cardiology, metabolic disease, endocrinology, central nervous system and anti-viral and anti-infective. Headquartered in Cincinnati, Ohio, Medpace employs approximately 2,700 people across 36 countries. Medpace was founded in 1992 and is based in Cincinnati, Ohio.

Sell -

Seller(S) 2

SELLER

Armada

Helsinki, Finland

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2000
PE ASSETS 500M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Armada Mezzanine is an independent mezzanine firm focused on financing buyouts, recapitalizations, and expansions of small and medium-sized Nordic companies. Armada generally targets companies valued from €20 to €150 million with stable cash-flows, attractive growth opportunities, and sustainable competitive advantages. Sectors of interest include industrial products, services, and technology. Armada Mezzanine was established in 2000 and has offices in Helsinki and Stockholm.


DEAL STATS #
Overall 10 of 14
Sector: Automotive M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 4
Country: Sweden M&A 2 of 5
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-23 Pincho Nation

Goteborg, Sweden

Pincho Nation is an app-based restaurant concept, offering a broad menu of appetizers drawing inspiration from all over the world, including dishes such as Spanish quesadillas, Asian dumplings, Hungarian stake, French crème brûlée, and beverages such as mojitos, sangria, beer, and playful drinks in all the colors of the rainbow. Pincho Nation was founded in 2012 and is based in Goteborg, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-04 Cambio

Linkoping, Sweden

Cambio operates in the Electronic Health Records (“EHR") market, offering software solutions for the acute, primary, social and person-centered care. Cambio promotes a holistic view on health and social care and offers an EHR agnostic solution for clinical decision support applicable for all branches of health and social care. Cambio was founded in 1993 and is based in Linkoping, Sweden.

Sell -
SELLER
DESCRIPTION

AAC Capital Nordic Advisory AB is a North European private equity firm focused on acquiring majority stakes in mid-market companies in the Nordic countries. It seeks to invest in companies with an enterprise value up to €150 million. AAC Capital Nordic Advisory was formerly known as ABN Amro Capital and became independent of ABN Amro in 2007. AAC Capital Nordic is a private equity arm of AAC Capital partners was formed in 2010 and is based in Stockholm.


DEAL STATS #
Overall 5 of 8
Sector: Automotive M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 2
Country: Sweden M&A 3 of 3
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-10 FlexLink AB

Gothenburg, Sweden

FlexLink in is a supplier of innovative automation solutions to assembly and manufacturing industries. Based in Gothenburg, Sweden.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-28 Viking Redningstjeneste AS

Lysaker, Norway

Viking Redningstjeneste AS is an operator of roadside assistance services. It also provides medical assistance and 24-hour support via its multi-lingual operations center. Viking Redningstjeneste is based in Lysaker, Norway.

Sell €114M