M&A Deal Summary

CVC Capital Partners Acquires Samsonite International SA

On October 1, 2007, private equity firm CVC Capital Partners acquired consumer products company Samsonite International SA from Ontario Teachers Pension Plan and Ares Private Equity Group for 1.7B USD

Acquisition Highlights
  • This is CVC Capital Partners’ 7th transaction in the Consumer Products sector.
  • This is CVC Capital Partners’ 17th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 2nd transaction in Luxembourg.

M&A Deal Summary

Date 2007-10-01
Target Samsonite International SA
Sector Consumer Products
Buyer(s) CVC Capital Partners
Sellers(s) Ontario Teachers Pension Plan
Ares Private Equity Group
Deal Type Secondary Buyout
Deal Value 1.7B USD

Target

Samsonite International SA

Luxembourg, Luxembourg
website
Samsonite International designs, manufactures, and distributes luggage. The Company's products include suitcases, garment bags, casual bags, business cases, clothing, shoes, and accessories. Samsonite also licenses their trademarks for use on products such as travel accessories, leather goods, handbags, clothing, and furniture. Samsonite International was incorpoprated in 1910 and is based in Luxembourg City, Luxembourg.

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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
SizeMega
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 117 of 285
Sector (Consumer Products) 7 of 14
Type (Secondary Buyout) 12 of 67
Country (Luxembourg) 2 of 2
Year (2007) 13 of 15
Size (of disclosed) 17 of 53
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 Dutton Forshaw Motor Co. Ltd.

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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-03 I-MED Network Ltd.

Sydney, Australia

I-MED is a diagnostic imaging provider. It was formed in 2000 and offers comprehensive and high-quality services including X-ray, PET, CT, MRI, Nuclear Medicine, Ultrasound, Mammography and Interventional Procedures. Across Australia, I-MED operates 204 clinics covering all major metropolitan areas and significant parts of rural Australia. Each year almost 5 million patient procedures are performed by I-MED’s more than 300 radiologists, 50 nuclear medicine physicians, and 3,500 staff.

Sell AU$1.2B

Seller(S) 2

SELLER

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

website


Category Pension
Founded 1991
PE ASSETS 26.6B CAD
SizeMega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 6 of 51
Sector (Consumer Products) 3 of 6
Type (Secondary Buyout) 1 of 17
Country (Luxembourg) 1 of 1
Year (2007) 2 of 3
Size (of disclosed) 5 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-23 Alexander Forbes Ltd.

Sandown, South Africa

Alexander Forbes Limited is South Africa's insurance broker, asset multi-manager and financial services company.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-06 Glass, Lewis & Co.

San Francisco, California, United States

Glass Lewis is a provider of global governance services, helping institutional investors understand and connect with the companies they invest. Glass Lewis was founded in 2003 and is based in San Francisco, California.

Buy $46M
SELLER

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.


DEAL STATS #
Overall 4 of 39
Sector (Consumer Products) 1 of 6
Type (Secondary Buyout) 1 of 16
Country (Luxembourg) 1 of 1
Year (2007) 3 of 3
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-16 General Nutrition Centers, Inc.

Pittsburgh, Pennsylvania, United States

GNC is the largest global specialty retailer of health and wellness products, with 4,200 retail locations in the United States and franchise operations in 48 international markets. GNC products include vitamins, minerals, and other wellness products. GNC was established in 1935 and is based in Pittsburgh, Pennsylvania.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-04 MG LLC

Fort Lee, New Jersey, United States

TRANZACT is a provider of end-to-end customer acquisition solutions to the insurance sector. TRANZACT serves the Auto & Home, Health, and Life insurance verticals for insurance carriers including MetLife, CIGNA, Progressive, and Mutual of Omaha, among others. TRANZACT was founded in 1997 and is based in Fort Lee, New Jersey.

Buy $185M