M&A Deal Summary

Duke Street Capital and Partners Group AG Acquires Voyage Healthcare Group

On August 6, 2014, private equity firm Duke Street Capital and asset manager Partners Group AG acquired healthcare services company Voyage Healthcare Group Ltd. from HgCapital for 375M GBP

Acquisition Highlights
  • This is Duke Street Capital’s 6th and Partners Group AG’s 1st transaction in the Healthcare Services sector.
  • This is Duke Street Capital’s 1st and Partners Group AG’s 12th largest (disclosed) transaction.
  • This is Duke Street Capital’s 27th and Partners Group AG’s 1st transaction in the United Kingdom.
Investment Fate
  • Voyage Healthcare Group was sold to a financial buyer in 2022.

M&A Deal Summary

Date 2014-08-06
Target Voyage Healthcare Group Ltd.
Sector Healthcare Services
Buyer(s) Duke Street Capital
Partners Group AG
Sellers(s) HgCapital
Deal Type Secondary Buyout
Deal Value 375M GBP

Target

Voyage Healthcare Group Ltd.

Staffordshire, United Kingdom
website
Voyage Care provides specialist care and support to people with learning and physical difficulties, brain injuries, autism, and other complex needs across the UK. Voyage Care was founded in 1988 and is based in Staffordshire, United Kingdom.

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Buyer(S) 2

Buyer

Duke Street Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 2.5B EUR
SizeLarge
Type Sector Agnostic
DESCRIPTION

Duke Street Capital is a European private equity firm that targets investments in mid-market UK and French businesses valued between £50 - £250 million. Duke Street looks to build companies through organic growth and acquisitions. Sectors of interest include business services and outsourcing, retail and consumer, food, industrial, healthcare, leisure, and financial services. Duke Street Capital was founded in 1988 and is based in London with an additional office in Paris.


DEAL STATS #
Overall 46 of 54
Sector (Healthcare Services) 6 of 6
Type (Secondary Buyout) 10 of 13
Country (United Kingdom) 27 of 31
Year (2014) 1 of 1
Size (of disclosed) 1 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-10 Marlin Financial Service Ltd.

Worthing West Sussex, United Kingdom

Marlin Financial Service Ltd. is a provider of non-performing consumer debt, primarily credit cards and personal loans. Its main clients are UK banks and other large credit institutions.

Sell £295M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-09 Payzone UK Ltd.

Cheshire, United Kingdom

Payzone UK Ltd. is the largest consumer payments network in the country with over 7,500 retail agents which process a variety of electronic transaction services, including mobile phone top-ups, debit/credit card transactions; M50 motorway toll payments; Leap travel cards, local property tax payments, parking fees, schools and clubs payment platform, pre-paid utility and parcel collection services.

Sell -
Buyer

Partners Group AG

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1996
SizeMega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 17 of 77
Sector (Healthcare Services) 1 of 7
Type (Secondary Buyout) 11 of 43
Country (United Kingdom) 1 of 4
Year (2014) 2 of 5
Size (of disclosed) 12 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-17 MultiPlan Corp.

New York, New York, United States

MultiPlan is a provider of technology-enabled healthcare cost management solutions. The company provides a single gateway to a host of analytics- and network-based solutions for managing the financial risks associated with medical claims, as well as solutions that improve payment integrity by resolving waste, abuse and fraud before payments are made. MultiPlan was founded in 1980 and is based in New York city.

Buy $4.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-04 Enerya Energy, Inc.

Istanbul, Turkey

Enerya owns and operates nine natural gas distribution companies in different regions in Western and Central Turkey, each with exclusive 30-year concession rights in their respective region, giving it one of the largest and most diversified natural gas distribution portfolios in Turkey. Enerya was founded in 2003 and is based in Istanbul, Turkey.

Buy -

Seller(S) 1

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 9.0B GBP
SizeMega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 41 of 80
Sector (Healthcare Services) 3 of 6
Type (Secondary Buyout) 16 of 28
Country (United Kingdom) 25 of 42
Year (2014) 5 of 6
Size (of disclosed) 7 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-11 Sequel Business Solutions Ltd.

London, United Kingdom

Sequel Business Solutions Ltd. is an insurance and reinsurance software specialist. Sequel delivers a modern, powerful, and integrated suite of software that provides full end-to-end management of all insurance and reinsurance business. Sequel Business Solutions Ltd. was established in 1993 and is based in London, UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-07 Radius, Inc.

Bonita Springs, Florida, United States

Radius, Inc. is a next-generation technology solution provider company focused on the growing Internet of Things industry.

Sell -