M&A Deal Summary

CVC Capital Partners and Intermediate Capital Group Acquire IG Group

On July 11, 2003, private equity firm CVC Capital Partners and mezzanine finance firm Intermediate Capital Group acquired financial services company IG Group

Acquisition Highlights
  • This is CVC Capital Partners’ 4th and Intermediate Capital Group’s 4th transaction in the Financial Services sector.
  • This is CVC Capital Partners’ 26th and Intermediate Capital Group’s 42nd transaction in the United Kingdom.
Investment Fate
  • IG Group went public in 2005.

M&A Deal Summary

Date 2003-07-11
Target IG Group
Sector Financial Services
Buyer(s) CVC Capital Partners
Intermediate Capital Group
Deal Type Going Private

Target

IG Group

London, United Kingdom
IG Group is a provider of speculative investment products to retail and institutional clients around the world. IG Group was founded in 1974 and is based in London, the United Kingdom.

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Buyer(S) 2

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


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 77 of 323
Sector (Financial Services) 4 of 16
Type (Going Private) 2 of 14
Country (United Kingdom) 26 of 60
Year (2003) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-18 ista International

Essen, Germany

ista International GmbH sells a range of meter hardware and also provides a comprehensive package of related services such as meter installation, meter reading, billing, data processing, and maintenance. ista International GmbH was formed in 1999 and is based in Essen, Germany.

Buy €930M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-01 Seat Pagine Gialle

Milano, Italy

Seat Pagine Gialle is a European directory advertising, web marketing services, and business information group, based in Italy, with significant activities in Germany and the UK.

Buy -
Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 98 of 292
Sector (Financial Services) 4 of 11
Type (Going Private) 3 of 9
Country (United Kingdom) 42 of 79
Year (2003) 8 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-02 Vantico Group S.A.

Luxembourg City, Luxembourg

Vantico is a global epoxy resin manufacture. Its products provide solutions for protection, bonding and forming to a broad range of applications and end users. Important end markets include: automotive, aircraft and aerospace, civil engineering, electrical and electronics, chemical, food and beverage, marine, leisure, textile and light engineering.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-01 William Cook Holdings

Sheffield, United Kingdom

William Cook is an engineering Company. It started as a steel casting manufacturer and steel castings still form the basis of 99% of William Cook’s products.

Sell -