M&A Deal Summary

Esterline Technologies Acquires Souriau-Sunbank Connection Technologies

On July 27, 2011, Esterline Technologies acquired electrical equipment company Souriau-Sunbank Connection Technologies from Omnes Capital, Sagard, Intermediate Capital Group and PAI Partners for 705M USD

Acquisition Highlights
  • This is Esterline Technologies’ 2nd transaction in the Electrical Equipment sector.
  • This is Esterline Technologies’ largest (disclosed) transaction.
  • This is Esterline Technologies’ 1st transaction in France.
  • This is Esterline Technologies’ 1st transaction in Pennsylvania.
Investment Fate
  • Souriau-Sunbank Connection Technologies was divested to a consortium of strategic buyers in 2019 for 920M USD.

M&A Deal Summary

Date 2011-07-27
Target Souriau-Sunbank Connection Technologies
Sector Electrical Equipment
Buyer(s) Esterline Technologies
Sellers(s) Omnes Capital
Sagard
Intermediate Capital Group
PAI Partners
Deal Type Add-on Acquisition
Deal Value 705M USD

Target

Souriau-Sunbank Connection Technologies

Versailles, Pennsylvania, France
website
Souriau SAS is a provider in connector solutions for industrial, military aeronautics and aerospace applications. The company makes a wide range of interconnection systems for severe environments (high pressure, extreme temperature, marine environments, exposure to electromagnetic or nuclear radiation, etc.)

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Buyer(S) 1

Buyer

Esterline Technologies

Bellevue, Washington, United States

website


Category Company
Founded 1967
Sector Aerospace
Employees13,290
Revenue 2.0B USD (2017)
DESCRIPTION

Esterline Technologies Corp. is a specialized manufacturing company serving principally aerospace and defense markets. Esterline management views the company’s businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials.


DEAL STATS #
Overall 10 of 12
Sector (Electrical Equipment) 2 of 2
Type (Add-on Acquisition) 9 of 10
State (Pennsylvania) 1 of 1
Country (France) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-30 Eclipse Electronic Systems

Richardson, Texas, United States

Eclipse Electronic Systems, Inc. is a designer and manufacturer of high-performance, embedded digital receiver products and signal processing components.

Buy $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-04 Gamesman

Brossard, Quebec, Canada

Gamesman, Inc., is a designer and manufacturer of innovative products for the international gaming equipment components and systems manufacturer.

Buy -

Seller(S) 4

SELLER

Omnes Capital

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 1.9B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.


DEAL STATS #
Overall 35 of 93
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 13 of 42
State (Pennsylvania) 1 of 1
Country (France) 28 of 71
Year (2011) 9 of 10
Size (of disclosed) 7 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 DiBcom SA

Paris, France

DiBcom, founded in June 2000, is a French semiconductor company based on a fabless (no factory) model, that designs, produces and sells integrated circuits for receiving Digital terrestrial TV in mobile and portable environments. DiBcom has extensive experience solving real-world digital terrestrial television (DTT) reception problems and has overcome the main technological barriers to high-quality service.

Sell €12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-19 SVP SAS

Saint Ouen, France

SVP SAS provides management consulting services to businesses and local governments. It offers legislation, finance, accounting, human resources, business life, and market consulting services. SVP SAS was formerly a subsidiary of SVP International. The company is headquartered in Saint Ouen, France.

Buy €23M
SELLER

Sagard

Paris, France

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 2001
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Sagard is a multi-strategy alternative investment manager that invests across a variety of asset classes. These include private equity, public equity, private credit, royalties, and venture capital. Prospective transactions typically include buyouts or growth capital financings, where Sagard will consider either majority or minority positions. Sagard was formed in 2001 and is based in Montreal, Quebec.


DEAL STATS #
Overall 8 of 23
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Pennsylvania) 1 of 1
Country (France) 8 of 20
Year (2011) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Kiloutou SA

Marcq-en-Baroeul, France

Kiloutou SA is a rental company and a major player in equipment rental in France, the Kiloutou Group provides products and services to a diversified client base: public corporations, construction companies, craftsmen, municipalities, administrations, industries, service companies and SMEs. The Kiloutou group offers the widest product range on the market with more than 1,000 references: access equipment, earthmoving and construction equipment , commercial vehicles and events. Kiloutou was founded in 1980 and is based in Marcq-en-Baroeul, France.

Sell €535M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-08 Eurodough SAS

Lievin, France

EuroDough is a manufacturer of ready-to-use dough sold in hypermarkets and supermarkets, and used to make pies, pizza, cakes and pastries.

Buy -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

website


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 120 of 212
Sector (Electrical Equipment) 6 of 8
Type (Add-on Acquisition) 31 of 66
State (Pennsylvania) 2 of 2
Country (France) 34 of 56
Year (2011) 6 of 11
Size (of disclosed) 30 of 72
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-26 Bureau van Dijk

Amsterdam, Netherlands

Bureau van Dijk is a global provider of business intelligence and company information. Bureau van Dijk, operating from its Amsterdam headquarters, aggregates, standardizes and distributes one of the world’s most extensive private company datasets, with coverage exceeding 220 million companies. Over 30 years, the company has built partnerships with more than 160 independent information providers, creating a platform that connects customers with data that addresses a wide range of business challenges. Bureau van Dijk’s solutions support the credit analysis, investment research, tax risk, transfer pricing, compliance and third-party due diligence needs of financial institutions, corporations, professional services firms and governmental authorities worldwide.

Buy €960M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-24 Raet

Amersfoort, Netherlands

Raet is a provider of HR cloud software and services. The company provides a cloud-based, integrated HR software suite covering the Human Capital Management needs of both large and small businesses globally. Raet was founded in 1965 and is based in Amersfoort, Netherlands.

Sell -
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 22 of 47
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 10 of 17
State (Pennsylvania) 1 of 1
Country (France) 14 of 22
Year (2011) 6 of 6
Size (of disclosed) 18 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Kiloutou SA

Marcq-en-Baroeul, France

Kiloutou SA is a rental company and a major player in equipment rental in France, the Kiloutou Group provides products and services to a diversified client base: public corporations, construction companies, craftsmen, municipalities, administrations, industries, service companies and SMEs. The Kiloutou group offers the widest product range on the market with more than 1,000 references: access equipment, earthmoving and construction equipment , commercial vehicles and events. Kiloutou was founded in 1980 and is based in Marcq-en-Baroeul, France.

Buy €535M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Marcolin

Longarone, Spain

Marcolin is a provider in the branded eyewear sector with a portfolio comprising 16 market-leading brands and a distribution network spanning more than 80 countries. Marcolin was founded in 1961 and is based in Longarone, Spain.

Buy €278M