M&A Deal Summary

CVC Capital Partners, Charterhouse Capital Partners, Permira and HarbourVest Partners Acquire Acromas Holdings

On September 1, 2007, private equity firms CVC Capital Partners, Charterhouse Capital Partners, Permira and HarbourVest Partners acquired insurance company Acromas Holdings for 6.2B GBP

Acquisition Highlights
  • This is CVC Capital Partners’ 1st, Charterhouse Capital Partners’ 1st, Permira’s 1st and HarbourVest Partners’ 2nd transaction in the Insurance sector.
  • This is CVC Capital Partners’ 0th, Charterhouse Capital Partners’ 0th, Permira’s 4th and HarbourVest Partners’ 6th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 31st, Charterhouse Capital Partners’ 9th, Permira’s 22nd and HarbourVest Partners’ 8th transaction in the United Kingdom.

M&A Deal Summary

Date 2007-09-01
Target Acromas Holdings
Sector Insurance
Buyer(s) CVC Capital Partners
Charterhouse Capital Partners
Permira
HarbourVest Partners
Deal Type Consolidation
Deal Value 6.2B GBP

Target

Acromas Holdings

Folkestone, United Kingdom
website
Acromas Holdings Ltd. is a provider of insurance, financial and travel services. The company remains powerful in the financial, motoring and travel services business, under a management team with extensive experience in building and growing an affinity business.

Search 192,349 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 4

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 115 of 319
Sector (Insurance) 1 of 7
Type (Consolidation) 1 of 3
Country (United Kingdom) 31 of 59
Year (2007) 11 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-17 KS Oils

Morena, India

K S Oils Limited is a Fast Moving Consumer Goods edible oil player from India with two leading brands, Double Sher and Kalash. KS Oils was founded in 1985 and is based in Morena, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Dutton Forshaw Motor

Manchester, United Kingdom

Dutton Forshaw serves as a large dealer group offering new and used vehicles from major manufacturers. The company offers to source dealers by franchise or location.

Sell -
Buyer

Charterhouse Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1934
PE ASSETS 4.1B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Charterhouse Capital Partners is a large private equity firm specializing in buyouts of European industrial and commercial service companies. The Firm primarily seeks opportunities in Western Europe and the UK. Charterhouse focuses on profitable companies led by experienced management valued from €200 million to €1.5 billion. Specific areas of interest include business services, chemicals, engineering, leisure, transport and logistics. Charterhouse Capital Partners was formed in 1934 and is based in London.


DEAL STATS #
Overall 16 of 49
Sector (Insurance) 1 of 2
Type (Consolidation) 1 of 1
Country (United Kingdom) 9 of 21
Year (2007) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-14 Tes Global

London, United Kingdom

Tes Global is an international provider of software services to make life easier for schools and teachers. All products and services are built with teachers and schools needs at the core, ensuring they are innovative, trusted education solutions. Tes Global products play a critical role helping teachers and school leaders deal with the challenges of teaching, including safeguarding and compliance, smart pupil management, and staff management. This dedication and focus supports educators across the globe in providing high quality education to millions of children using smart, flexible, and cost-effective solutions. A global Company, Tes Global was formed in 1910 and and operates across 10 offices, including in London, Sheffield, Hong Kong, Melbourne, Sydney, and Dubai.

Buy £235M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-25 Giles Insurance Brokers

Glasgow, United Kingdom

Giles Insurance Brokers Ltd. is an independent insurance brokers in UK.

Buy £200M
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 62 of 156
Sector (Insurance) 1 of 1
Type (Consolidation) 1 of 2
Country (United Kingdom) 22 of 35
Year (2007) 3 of 6
Size (of disclosed) 4 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Takko

Telgte, United Kingdom

Takko is a retailer of fashionable 'value for money' clothing, targeting young families and women aged between 25 and 40. Takko was formed in 1982 and runs over 900 stores in Germany, Austria, The Netherlands, Hungary, and the Czech Republic.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-11 Galaxy Entertainment Group

Central, China

Galaxy Entertainment Group is a casino and hotel operator in Macau SAR, China.

Buy HK$6.5B
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 60 of 223
Sector (Insurance) 2 of 12
Type (Consolidation) 1 of 2
Country (United Kingdom) 8 of 19
Year (2007) 17 of 19
Size (of disclosed) 6 of 68
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-23 Alexander Forbes

Sandton, South Africa

Alexander Forbes is an insurance broker, asset multi-manager, and financial services company that impacts people’s lives by delivering insight and advice to individuals, employers, and retirement funds. The company has leveraged partnerships to provide specialist consulting services across 32 African countries to efficiently serve the holistic advice needs of multinational employers. Alexander Forbes was incorporated in 1935 and is based in Sandton, South Africa.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-26 Tropitone Furniture

Irvine, California, United States

Tropitone Furniture Company, Inc. designs and manufactures indoor and outdoor casual furniture. The company offers extruded and cast aluminum patio and pool furniture, aluminum or wood market umbrellas, patio umbrellas, outdoor bar stools, chaise lounges, patio chairs, outdoor dining chairs, and outdoor furniture sets.

Buy -