M&A Deal Summary

CVC Capital Partners Acquires Mivisa Envases SAU

On March 1, 2005, private equity firm CVC Capital Partners acquired packaging company Mivisa Envases SAU from PAI Partners and Oquendo Capital for 520M EUR

Acquisition Highlights
  • This is CVC Capital Partners’ 5th transaction in the Packaging sector.
  • This is CVC Capital Partners’ 46th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 9th transaction in Spain.
Investment Fate
  • Mivisa Envases SAU was sold to a consortium of financial buyers in 2011 for 1.3B USD.
  • Mivisa Envases SAU was sold to a publicly-traded strategic buyer in 2013 for 1.2B EUR.

M&A Deal Summary

Date 2005-03-01
Target Mivisa Envases SAU
Sector Packaging
Buyer(s) CVC Capital Partners
Sellers(s) PAI Partners
Oquendo Capital
Deal Type Secondary Buyout
Deal Value 520M EUR

Target

Mivisa Envases SAU

Murcia, Spain
website
Mivisa is a manufacturer of high quality metal packaging intended for the food canning industry. Mivisa today has 6 factories in Spain and 4 abroad. The goal of all them is to offer the best product to their customers, relying on the quality of its products, on development and innovation.

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Buyer(S) 1

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 82.0B USD
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 €250 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 87 of 296
Sector (Packaging) 5 of 11
Type (Secondary Buyout) 5 of 73
Country (Spain) 9 of 20
Year (2005) 2 of 10
Size (of disclosed) 46 of 55
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 ANI Printing Inks BV

Deventer, Netherlands

ANI Printing Inks BV is a provider of ink and its consists of five business units: Liquid inks, Narrow Web, Web offset, Sheetfed, and Metal deco.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-08 Leaf Holland BV

Oosterhout, Netherlands

Leaf is a pan-European manufacturer, marketer and distributor of sugar confectionery products such as basic candy, pastilles, chocolate and chewing gum. Leaf is a market leader in the chewing gum, pastilles and candy markets in Netherlands, Finland and Sweden and one of the top players in Italy, France, Belgium, Germany, Denmark, Norway, UK and Poland.

Buy -

Seller(S) 2

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 5 of 47
Sector (Packaging) 1 of 1
Type (Secondary Buyout) 3 of 24
Country (Spain) 1 of 2
Year (2005) 1 of 3
Size (of disclosed) 19 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Saur

Issy-les-Moulineaux, France

Saur is a French drinking and wastewater management company focused on small/mid-sized cities across France, where it services approximately 7,000 French municipalities under long-term contracts. The company is also active internationally, particularly in Iberia, Saudi Arabia, and Poland. Saur was founded in 1933 and is based in Issy-les-Moulineaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-27 Panzani

Lyon, France

Panzani is involved in making dry pasta, semolina, couscous, and sauces under the Lustucru and Taureau Ailé brands. Panzani was formed in 1940 and is based in Lyon, France.

Sell -
SELLER

Oquendo Capital

Madrid, Spain

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2007
PE ASSETS 407M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Oquendo Capital is a Spanish mezzanine finance firm offering subordinated debt to help support leveraged buyouts, balance sheet restructurings, and company expansions. Oquendo looks to fund businesses with low cyclicality, recurring revenues, market leadership, experienced management, and low capital requirements. The Firm's target investment size is €5 to €10 million. Oquendo Capital was formed in 2007 and is based in Madrid.


DEAL STATS #
Overall 1 of 7
Sector (Packaging) 1 of 2
Type (Secondary Buyout) 1 of 4
Country (Spain) 1 of 7
Year (2005) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-12-01 Mivisa Envases SAU

Murcia, Spain

Mivisa is a manufacturer of high quality metal packaging intended for the food canning industry. Mivisa today has 6 factories in Spain and 4 abroad. The goal of all them is to offer the best product to their customers, relying on the quality of its products, on development and innovation.

Buy €280M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-15 Panrico Donuts Canarias SA

Barcelona, Spain

Leading Spanish and Portuguese bakery company (branded pastries and sliced bread) with a portfolio of pre-eminent brands such as Donuts, Donettes, Panrico and Bollycao.

Buy $900M