M&A Deal Summary

Advent International, Permira, Crosspoint Capital Partners, GIC and CPP Investments Acquire McAfee

On November 8, 2021, private equity firm Advent International, private equity firm Permira, private equity firm Crosspoint Capital Partners, sovereign wealth fund GIC and pension CPP Investments acquired information technology company McAfee for 14.0B USD

Acquisition Highlights
  • This is Advent International’s 27th, Permira’s 8th, Crosspoint Capital Partners’ 5th, GIC’s 4th and CPP Investments’ 3rd transaction in the Information Technology sector.
  • This is Advent International’s , Permira’s 3rd, Crosspoint Capital Partners’ , GIC’s 2nd and CPP Investments’ 2nd largest (disclosed) transaction.
  • This is Advent International’s 95th, Permira’s 39th, Crosspoint Capital Partners’ 4th, GIC’s 12th and CPP Investments’ 21st transaction in the United States.
  • This is Advent International’s 13th, Permira’s 13th, Crosspoint Capital Partners’ 2nd, GIC’s 3rd and CPP Investments’ 6th transaction in California.

M&A Deal Summary

Date 2021-11-08
Target McAfee
Sector Information Technology
Buyer(s) Advent International
Permira
Crosspoint Capital Partners
GIC
CPP Investments
Deal Type Going Private
Deal Value 14.0B USD
Advisor(s) Goldman Sachs
Morgan Stanley (Financial)
Ropes & Gray
Moulton Moore Stella LLP (Legal)

Target

McAfee

Santa Clara, California, United States
website
McAfee's corporate headquarters in Santa Clara, California.
McAfee's corporate headquarters in Santa Clara, California.
McAfee delivers proactive and proven security solutions and services that help secure systems and networks around the world, McAfee protects consumers and businesses of all sizes from the latest malware and emerging online threats. McAfee's solutions are designed to work together, integrating anti-malware, antispyware, and antivirus software with security management features that deliver unsurpassed real-time visibility and analytics, reduce risk, ensure compliance, improve Internet security, and help businesses achieve operational efficiencies. McAfee was formed in 1987 and is based in Santa Clara, California.

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Buyer(S) 5

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 308 of 330
Sector (Information Technology) 27 of 31
Type (Going Private) 15 of 18
State (California) 13 of 13
Country (United States) 95 of 100
Year (2021) 15 of 17
Size (of disclosed) 1 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 CI&T

New York, New York, United States

CI&T is a provider of design thinking, lean methodologies, and advanced technology including Machine Learning/AI, Advanced Analytics, and Cloud and Mobility services. CI&T, Inc. was founded in 1995 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-22 Caldic

Rotterdam, Netherlands

Caldic is a global premium provider of value-added life sciences and specialty chemicals solutions with the ambition to be a true partner to its customers and principals. Caldic's product portfolio includes innovative food ingredients, natural products, and functional solutions for a variety of life sciences and industrial end-market segments. Caldic was founded in 1970 and is based in Rotterdam, Netherlands.

Buy -
Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 146 of 156
Sector (Information Technology) 8 of 9
Type (Going Private) 11 of 14
State (California) 13 of 15
Country (United States) 39 of 42
Year (2021) 6 of 7
Size (of disclosed) 3 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Tricor Group

Hong Kong, China

Tricor Group is a corporate services provider across 20 markets globally, with a strong presence in 13 markets in the APAC region. It offers a range of services across accounting and payroll for MNCs and SMEs, corporate governance and secretarial services for both listed and unlisted companies, and investor and share registry services. Tricor Group was founded in 2000 and is based in Hong Kong, China.

Sell $2.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-17 DiversiTech

Duluth, Georgia, United States

DiversiTech is an aftermarket manufacturer and distributor of components for residential and light commercial heating, ventilating, air conditioning, and refrigeration (‘HVACR’). DiversiTech was founded in 1971 and is based in Duluth, Georgia.

Sell $2.2B
Buyer
DESCRIPTION

Crosspoint Capital Partners is a private equity firm focused on the cybersecurity, privacy and infrastructure software markets. The Firm will consider minority to full control investment situations and generally seeks businesses throughout the US. Crosspoint Capital Partners has offices in Menlo Park, California and Boston, Massachusetts.


DEAL STATS #
Overall 5 of 7
Sector (Information Technology) 5 of 6
Type (Going Private) 2 of 3
State (California) 2 of 2
Country (United States) 4 of 5
Year (2021) 3 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-22 Everseen

Cork, Ireland

Everseen is a provider of AI-powered computer vision software. Everseen's technology brings patented AI-powered computer vision to core business processes. Everseen was founded in 2007 and is based in Cork, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 RSA Conference

Bedford, Massachusetts, United States

RSA Conference is the premier series of global events and year-round learning for the cybersecurity community. RSAC is where the security industry converges to discuss current and future concerns and have access to the experts, unbiased content and ideas that help enable individuals and companies advance their cybersecurity posture and build stronger and smarter teams. Both in-person and online, the company brings the cybersecurity industry together and empowers the collective "we" to stand against cyberthreats around the world. It is the ultimate marketplace for the latest technologies and hands-on educational opportunities that help industry professionals discover how to make their companies more secure while showcasing the most enterprising, influential, and thought-provoking thinkers and leaders in cybersecurity today. RSA Conference is based in Bedford, Massachusetts.

Buy -
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.


DEAL STATS #
Overall 35 of 38
Sector (Information Technology) 4 of 4
Type (Going Private) 4 of 4
State (California) 3 of 3
Country (United States) 12 of 13
Year (2021) 4 of 4
Size (of disclosed) 2 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-05 Medline

Northfield, Illinois, United States

Medline is a healthcare company: a manufacturer, distributor and solutions provider focused on improving the overall operating performance of healthcare. Medline works with both the country’s largest healthcare systems and independent facilities across the continuum of care to provide the clinical and supply chain resources required for long-term financial viability in delivering high quality care.

Buy $34.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-11 NAC

Limerick City, Ireland

NAC provides leasing and leases management services to airlines and aircraft investors worldwide. Aircraft are purchased in the primary and secondary markets and NAC is the largest regional fleet owner and aircraft lessor in the world. NAC was founded in 1990 and is based in Limerick City, Ireland.

Sell -
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 40 of 47
Sector (Information Technology) 3 of 3
Type (Going Private) 7 of 8
State (California) 6 of 7
Country (United States) 21 of 25
Year (2021) 5 of 6
Size (of disclosed) 2 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-08 Inmarsat

London, United Kingdom

Inmarsat is a global mobile satellite communications provider that owns and operates a diverse global portfolio of mobile telecommunications satellite networks, and holds a multi-layered, global spectrum portfolio, covering L-band, Ka-band, and S-band, enabling unparalleled breadth and diversity in the solutions it provides. Inmarsat's long-established global distribution network includes not only the world's leading channel partners but also its own strong direct retail capabilities, enabling end-to-end customer service assurance. The company has an unrivalled track record of operating reliable global mobile satellite telecommunications networks, sustaining business and mission critical safety and operational applications for more than 40 years. It is also a major driving force behind technological innovation in mobile satellite communications, sustaining its leadership through a substantial investment and a powerful network of technology and manufacturing partners. Inmarsat was formed in 1979 and is based in London.

Sell $7.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Berlin Packaging

Chicago, Illinois, United States

Berlin Packaging is a supplier of custom and stock rigid packaging and related solutions to large and small customers nationwide in end markets such as food and beverage, household/personal care, healthcare, and chemicals. Berlin Packaging was founded in 1898 and is based in Chicago, Illinois.

Buy -