M&A Deal Summary

3i Private Equity and Five Arrows Acquire Etanco

On September 5, 2011, private equity firms 3i Private Equity and Five Arrows acquired building materials company Etanco from IK Partners for 370M EUR

Acquisition Highlights
  • This is 3i Private Equity’s 4th and Five Arrows’ 1st transaction in the Building Materials sector.
  • This is 3i Private Equity’s 8th and Five Arrows’ largest (disclosed) transaction.
  • This is 3i Private Equity’s 26th and Five Arrows’ 8th transaction in France.
Investment Fate
  • Etanco was sold to a consortium of financial buyers in 2018 for 102M EUR.
  • Etanco was sold to a publicly-traded strategic buyer in 2021 for 725M EUR.

M&A Deal Summary

Date 2011-09-05
Target Etanco
Sector Building Materials
Buyer(s) 3i Private Equity
Five Arrows
Sellers(s) IK Partners
Deal Type Secondary Buyout
Deal Value 370M EUR

Target

Etanco

Le Pecq, France
website
Etanco is a designer, manufacturer, and distributor of building fastener and fixing systems. Etanco was founded in 1952 and is headquartered in Le Pecq, France.

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Buyer(S) 2

Buyer

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.


DEAL STATS #
Overall 209 of 247
Sector (Building Materials) 4 of 4
Type (Secondary Buyout) 25 of 41
Country (France) 26 of 29
Year (2011) 9 of 9
Size (of disclosed) 8 of 64
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-28 Chorion

London, United Kingdom

Chorion owns and develops literary and entertainment brands, generating revenue from royalties across a range of activities, including publishing, toy merchandising and television programmes. Its portfolio includes well recognised classic children’s brands, such as the Mr Men, Noddy, Famous Five and other Enid Blyton characters, OLIVIA, The Very Hungry Caterpillar, and the works of crime writers such as Agatha Christie (Miss Marple and Poirot) and Georges Simenon (Maigret). Chorion was founded in 2002 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-27 GEKA

Bechhofen, Germany

GEKA is a manufacturing of premium packaging and application systems for the cosmetics industry with a focus on brushes and applicators for mascara and eye liners.

Buy -
Buyer

Five Arrows

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.


DEAL STATS #
Overall 11 of 52
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 6 of 33
Country (France) 8 of 19
Year (2011) 4 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Kisimul

Lincoln, United Kingdom

Kisimul is a provider of residential education and care services to children and adults with severe learning difficulties, autism, challenging behaviour, Asperger syndrome and other related disabilities. Kisimul was founded in 1977 and is based in Lincoln, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Axilone

Paris, France

Axilone is a manufacturer of plastic components for the make-up, fragrance and skincare markets: caps, jars, dispensing caps, galvanized and metallized collars and jars with strong added value through surface treatment. Axilone was founded in 1998 and is based in Paris, France.

Sell -

Seller(S) 1

SELLER

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Ik Investment Partners Ltd. (Formerly Industri Kapital) is a private equity firm that targets control investments in mid-sized manufacturing and service companies located in select European countries. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The firm looks to commit €50 to €150 million of equity capital per transaction and targets companies with 'a proven ability to generate significant cash flow' as well as an ability to 'sustain growth through various economic cycles'. IK Investment Partners was formerly known as Industry Kapital. IK Investment Partners was formed in 1989 and has offices in Hamburg, London, Paris, and Stockholm.


DEAL STATS #
Overall 55 of 110
Sector (Building Materials) 3 of 4
Type (Secondary Buyout) 15 of 45
Country (France) 8 of 21
Year (2011) 3 of 4
Size (of disclosed) 9 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Idex

Boulogne-Billancourt, France

Idex's core activity is the technical maintenance and management of energy. The group offers global solutions to its clients including the management of collective heating and cooling networks (public and private) as well as the technical maintenance of buildings an third party management of utilities. Idex's clients include authorities, residential complexes and industrial corporations. Idex was founded in 1963 and is based in Boulogne-Billancourt, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-15 Moventas Oy

Vantaa, Finland

Moventas is an independent manufacturer of industrial and wind turbine gears as well as provider of gear maintenance and service. The company designs, manufactures and markets mechanical power transmission solutions and services for the process and energy industries.

Sell €100M