Equistone Partners Europe Limited Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Equistone Partners Europe Limited has acquired 8 companies. It has also invested in 2 others.

Equistone Partners Europe Limited’s most common sectors for investment are business services (12%) and manufacturing (6%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (55%) and secondary buyout (32%). In total, Equistone Partners Europe Limited has invested in 2 US states and 14 different countries. Its largest (disclosed) acquisition occurred in 2002 when it acquired Groupe Zannier S.A. for $709M.

In the last 3 years, Equistone Partners Europe Limited has exited 13 companies. The Firm’s most common exit type is secondary buyout (48%). Equistone Partners Europe Limited’s largest (disclosed) exit occurred in 2011 when it sold Converteam SAS for $3.2B.

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M&A Summary

  • M&A Total Activity383
    • M&A Buy Activity233
    • M&A Sell Activity150
  • Total Sectors Invested 48
  • Total Countries Invested 14
  • M&A Buy/Sell Connections 92
  • M&A Advisors 54

Equistone Partners Europe Limited

One New Ludgate 60 Ludgate Hill,
London, EC4M 7AW
United Kingdom,
+44 (0) 207 512 9900
www.equistonepe.com
christiian.marriott@equistonepe.com

Equistone Partners Europe Ltd is a private equity firm that invests in small to mid-sized companies with valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €125 million in a variety of transactions, including buyouts, growth capital financings, and recapitalizations. Equistone Partners Europe Ltd. (formerly Barclays Private Equity Ltd) was formed in 1997 and is based in London.


Investment Criteria

Sectors of Interest: Aerospace, Agriculture, Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Healthcare Services, Information Technology, Infrastructure, Insurance, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Packaging, Publishing, Restaurants, Retail, Safety/Security, Software, Staffing, Technology Hardware, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: United Kingdom, Western Europe, Eastern Europe, Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 25 125
Enterprise Value 50 500
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (7.2/yr) # 197 13 6 7 10 - 233
vol $6.2B $239M $319M $162M $6.9B
Sell (3.8/yr) # 131 6 4 9 - - 150
vol $15.4B $507M $1.2B $17.1B
  383

Most Recent M&A

Company Date Value Type
Amadys NV 2019-11-15 - Secondary Buyout
Brussels, Belgium · www.amadys.be
Omnicare Pharma GmbH 2019-08-14 - Buyout (LBO, MBO, MBI)
Unterfohring, Germany · www.omnicare.de
Bulgin 2019-07-31 162M GBP Divestiture
Cambridge, United Kingdom · www.bulgin.com
HERAS Germany GmbH 2019-07-24 - Divestiture
Rhede, Germany · www.heras.de
Acuity Knowledge Partners 2019-07-16 - Divestiture
London, United Kingdom · www.acuitykp.com
FirstPort 2019-07-12 - Secondary Buyout
Hampshire, United Kingdom · www.firstport.co.uk
Sateco SAS 2019-06-28 - Secondary Buyout
Mirebeau, France · www.sateco.fr
SA Vulcain Ingénierie 2019-06-24 - Secondary Buyout
Neuilly- Sur- Seine, France · www.vulcain-ingenierie.com
CH&Co Catering Group Ltd. 2019-04-18 - Secondary Buyout
Reading, United Kingdom · www.chandcogroup.com
RENA Technologies GmbH 2019-02-21 - Secondary Buyout
Gütenbach, Germany · www.rena.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
WHP Telecoms Ltd. 2018-03-28 Sitec Infrastructure Services Ltd. 2019-12-09 1
Warrington, United Kingdom · www.whptelecoms.com Cambridge, United Kingdom · www.sitec-is.co.uk
RENA Technologies GmbH 2019-02-21 MEI LLC (MEI Wet Processing Systems and Services LLC) 2019-12-09 1
Gütenbach, Germany · www.rena.com Albany, Oregon · www.meillc.com
CH&Co Catering Group Ltd. 2019-04-18 Mitie Group plc - Gather & Gather and Creativevents 2019-08-19 1
Reading, United Kingdom · www.chandcogroup.com Bristol, United Kingdom
Performance Interactive Alliance (blueSummit Media) 2014-04-28 UDG United Digital Group 2019-01-23 3
Hamburg, Germany · www.performance-interactive-alliance.com Hamburg, Germany · www.udg.de
Group of Butchers 2016-12-13 Gmyrek Fleisch - und Wurstwaren GmbH & Co. KG 2018-11-27 2
Oosterzele, Belgium · www.groupofbutchers.com Gifhorn, Germany · www.gmyrek.de
Group of Butchers 2016-12-13 Hartmann GmbH 2018-10-15 1
Oosterzele, Belgium · www.groupofbutchers.com Hainichen, Germany · www.hartmann-gmbh.eu
Inspired Thinking Group Ltd. 2017-10-12 Connect Advertising & Marketing LLP 2018-08-01 1
West Midlands, United Kingdom · www.inspiredthinkinggroup.com Wolverhampton, United Kingdom · www.connect-group.com
Gala-Kerzen GmbH 2016-02-03 JuwelKerze JewelCandle UG 2018-03-14 2
Wörnitz, Germany · www.gala-kerzen.com Berlin, Germany · www.juwelkerze.de
Gala-Kerzen GmbH 2016-02-03 Ramesh Flowers Pvt Ltd. 2018-02-28 1
Wörnitz, Germany · www.gala-kerzen.com Thoothukudi, India · www.rameshflowers.com
T.O.M. Vehicle Rental 2016-12-14 Transflex Vehicle Rental Ltd. 2017-08-04 1
Airdrie, United Kingdom · www.tomvehiclerental.com Stockton-on-Tees, United Kingdom · www.transflexrental.com

M&A by Sector

Sector Current # Value All-time # Value
Business Services 9 (13%) - 28 (12%) 498M (7%)
Manufacturing 3 (4%) - 13 (6%) 115M (2%)
Financial Services 4 (6%) 78M (8%) 12 (5%) 1.7B (23%)
Retail 2 (3%) 319M (31%) 11 (5%) 764M (10%)
Consumer Products 2 (3%) - 11 (5%) 354M (5%)
Electrical Equipment 3 (4%) - 10 (4%) 518M (7%)
Distribution 3 (4%) 85M (8%) 9 (4%) 123M (2%)
Machinery 2 (3%) - 8 (3%) -
Leisure 1 (1%) - 7 (3%) 121M (2%)
Apparel/Textiles 2 (3%) - 6 (3%) 755M (10%)
Healthcare Services - - 6 (3%) 179M (2%)
Food 3 (4%) - 6 (3%) 139M (2%)
Consumer Services - - 6 (3%) 68M (1%)
Transportation 2 (3%) - 6 (3%) 68M (1%)
Automotive 1 (1%) - 6 (3%) -
Medical Products - - 6 (3%) -
Energy Services and Equipment 2 (3%) - 5 (2%) 116M (2%)
Communications 3 (4%) - 5 (2%) 102M (1%)
Information Technology 2 (3%) - 5 (2%) 46M (1%)
Building Materials 3 (4%) - 5 (2%) -
Insurance - - 5 (2%) -
Internet Software and Services 4 (6%) - 5 (2%) -
Staffing 1 (1%) 216M (21%) 4 (2%) 243M (3%)
Restaurants 1 (1%) 154M (15%) 4 (2%) 190M (3%)
Construction 1 (1%) - 4 (2%) 124M (2%)
Technology Hardware - - 4 (2%) 54M (1%)
Engineering - - 3 (1%) 372M (5%)
Electronics 2 (3%) 162M (16%) 3 (1%) 162M (2%)
Packaging - - 3 (1%) -
Safety/Security 1 (1%) - 3 (1%) -
Airlines - - 2 (1%) 198M (3%)
Life Science 1 (1%) - 2 (1%) 100M (1%)
Test/Measurement Equipment - - 2 (1%) 32M (< 1%)
Chemicals 1 (1%) - 2 (1%) -
E-Commerce 1 (1%) - 2 (1%) -
Furniture 1 (1%) - 2 (1%) -
Plastics - - 2 (1%) -
Media - - 1 (< 1%) 183M (3%)
Software - - 1 (< 1%) 15M (< 1%)
Aerospace - - 1 (< 1%) -
Agriculture 1 (1%) - 1 (< 1%) -
Beverages 1 (1%) - 1 (< 1%) -
Digital Media 1 (1%) - 1 (< 1%) -
Environmental - - 1 (< 1%) -
Forest Products 1 (1%) - 1 (< 1%) -
Marketing 1 (1%) - 1 (< 1%) -
Publishing 1 (1%) - 1 (< 1%) -
Utilities - - 1 (< 1%) -
Total 67 $1.0B 234 $7.3B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 18 (27%) 694M (69%) 95 (41%) 4.4B (62%)
France 23 (34%) 319M (31%) 72 (31%) 1.9B (26%)
Germany 15 (22%) - 40 (17%) 94M (1%)
Italy 2 (3%) - 10 (4%) 146M (2%)
Switzerland 1 (1%) - 4 (2%) 518M (7%)
Netherlands 2 (3%) - 3 (1%) -
Belgium 2 (3%) - 2 (1%) -
United States - - 2 (1%) 33M (< 1%)
  Ohio - - 1 (< 1%) 33M (< 1%)
  California - - 1 (< 1%) -
Austria 1 (1%) - 1 (< 1%) -
Czech Republic 1 (1%) - 1 (< 1%) -
Luxembourg 1 (1%) - 1 (< 1%) -
Monaco 1 (1%) - 1 (< 1%) -
Ireland - - 1 (< 1%) 14M (< 1%)
Spain - - 1 (< 1%) -
Domestic 18 (27%) 694M (69%) 95 (41%) 4.4B (62%)
Cross-border 49 (73%) 319M (31%) 139 (59%) 2.7B (38%)
Total 67 $1.0B 234 $7.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 21 (31%) 216M (21%) 128 (55%) 3.2B (43%)
Secondary Buyout 31 (46%) 317M (31%) 73 (31%) 2.6B (35%)
Divestiture 7 (10%) 481M (47%) 13 (6%) 770M (11%)
Growth Capital 4 (6%) - 9 (4%) -
Stake Purchase 3 (4%) - 6 (3%) -
Going Private 1 (1%) - 5 (2%) 765M (11%)
Total 67 $1.0B 234 $7.3B

Exits by Deal Type

Type Total # Value
Secondary Sale 80 (53%) 7.6B (47%)
Trade Sale 34 (23%) 1.6B (10%)
Trade Sale - Public Company 20 (13%) 7.1B (44%)
Sold to Management 10 (7%) -
IPO 2 (1%) -
Bankruptcy 1 (1%) -
Merger 1 (1%) -
Stake Sale 1 (1%) -
Unknown 1 (1%) -
Total 150 $16.4B

Top M&A Advisors

Financial Deals
KPMG Corporate Finance LLC
6
Marl Partners LLP (dba Marlborough Partners)
5
Canaccord Genuity Corp.
4
Legal Deals
P+P Pöllath + Partners
12
Travers Smith LLP
9
Ashurst LLP
7

Deal Values

buy # Total
$100M to $1B 25 $5.9B
< $100M 28 $1.4B
TOTAL $7.3B
Largest Groupe Zannier S.A.
$709M (2002-12-01)
sell # Total
> $1B 3 $5.3B
$100M to $1B 37 $10.9B
< $100M 15 $906M
TOTAL $17.1B
Largest Converteam SAS
$3.2B (2011-09-02)

M&A Connections

Deals %
Acquired from
PE Firm(s)
89%
90 89%
Strategic(s)
11%
11 11%
Exited to
PE Firm(s)
63%
90 63%
Strategic(s)
38%
54 38%