M&A Deal Summary

GIC, HgCapital, Alberta Investment Management and General Atlantic Acquire Visma

On June 29, 2017, sovereign wealth fund GIC, private equity firm HgCapital, pension Alberta Investment Management and growth capital firm General Atlantic acquired information technology company Visma from KKR, Montagu and Cinven

Acquisition Highlights
  • This is GIC’s 3rd, HgCapital’s 7th, Alberta Investment Management’s 1st and General Atlantic’s 27th transaction in the Information Technology sector.
  • This is GIC’s 1st, HgCapital’s 3rd, Alberta Investment Management’s 1st and General Atlantic’s 1st transaction in Norway.

M&A Deal Summary

Date 2017-06-29
Target Visma
Sector Information Technology
Buyer(s) GIC
HgCapital
Alberta Investment Management
General Atlantic
Sellers(s) KKR
Montagu
Cinven
Deal Type Secondary Buyout

Target

Visma

Oslo, Norway
website
Visma offers software and services that simplify and digitize core business processes in the private and public sectors. Visma was founded in 1985 and is based in Oslo, Norway.

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Buyer(S) 4

DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.


DEAL STATS #
Overall 19 of 38
Sector (Information Technology) 3 of 4
Type (Secondary Buyout) 8 of 13
Country (Norway) 1 of 1
Year (2017) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-18 Capital First

Mumbai, India

Capital First is a diversified specialty finance company that provides loans to retail customers (including secured loans to small and medium enterprises, consumer durables loans, two-wheelers loans and gold loans) and corporates including loans to real estate developers and loans to business owners secured against shares of publicly traded companies. Capital First is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-19 Belron

Surrey, United Kingdom

Belron is a provider of glass repair and replacement, trading under more than 10 major brands including Carglass, Safelite AutoGlass, and Autoglass. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Belron is based in Surrey, United Kingdom.

Buy -
Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 65.0B USD
Size Mega
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 94 of 139
Sector (Information Technology) 7 of 14
Type (Secondary Buyout) 28 of 47
Country (Norway) 3 of 4
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-14 Zitcom A/S

Skanderborg, Denmark

Zitcom A/S is a provider of hosting and cloud solutions provider. Zitcom A/S was founded in 2000 and is based in Skanderborg, Denmark.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-11 Valueworks

Wigan, United Kingdom

Valueworks provides a private B2B electronic marketplace through which c. 300 buyers (principally social housing organisations), procure goods and services, primarily relating to social housing planned repair and maintenance. Valueworks was founded in 2000 and is based in Wigan, United Kingdom.

Sell -
Buyer
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


DEAL STATS #
Overall 10 of 30
Sector (Information Technology) 1 of 2
Type (Secondary Buyout) 5 of 12
Country (Norway) 1 of 1
Year (2017) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-19 Hayward Industries

Charlotte, North Carolina, United States

Hayward Industries is a manufacturer of residential and commercial pool equipment and industrial flow control products. Hayward markets a full line of energy efficient pool and spa equipment including pumps, filters, heaters, cleaners, salt chlorinators, automation, lighting, safety, and flow control products. Hayward Industries was incorporated in 1925 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-14 Ring Container Technologies

Oakland, Tennessee, United States

Ring Container Technologies engages in the plastic container manufacturing industry. Ring is an industry major blow molder of high-density polyethylene (HDPE) and polyethylene terephthalate (PET) plastic bottles for the food service, retail food and other end-use markets. With outstanding growth and performance over the past decade. Ring employs more than 700 people throughout its headquarters and manufacturing locations in 17 cities across the U.S., Canada and the UK. Ring Container Technologies was founded in 1968 and is based in Oakland, Tennessee.

Buy -
Buyer
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 174 of 341
Sector (Information Technology) 27 of 43
Type (Secondary Buyout) 14 of 25
Country (Norway) 1 of 2
Year (2017) 8 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-20 Snap One

Charlotte, North Carolina, United States

Snap One is a manufacturer and exclusive source of A/V, security, control, networking, and remote management products for professional integrators. Snap One's pro-install channel helps integrators build their businesses by providing a wide range of high-quality products, easily accessible through an intuitive website and backed by award-winning service and support. Snap One was founded in 2005 and is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 A Place for Mom

Seattle, Washington, United States

A Place for Mom is North America’s senior services network providing families with resources and personalized assistance in finding senior living options. A Place for Mom was founded in 2000 and is based in Seattle, Washington.

Buy -

Seller(S) 3

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 93 of 174
Sector (Information Technology) 4 of 6
Type (Secondary Buyout) 12 of 34
Country (Norway) 1 of 1
Year (2017) 4 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-23 Sistemia

Roma, Italy

Sistemia SpA is a credit services provider focus on the real estate market, with services including portfolio due diligence, loan analysis, pricing assistance, remarketing of distressed assets, auction optimisation, and debt collection. Sistemia was formed in 2003 and is based in Roma, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Australian Venue

Melbourne, Australia

Australian Venue Co. (AVC) is a food and beverage-led hospitality group that owns and operates more than 210 pubs, bars, and event venues across Australia and New Zealand. Australian Venue Co. is based in Melbourne, Australia.

Buy -
SELLER

Montagu

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1968
PE ASSETS 11.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Montagu is an independent private equity firm focused on European management buyouts and growth capital transactions. The Firm seeks opportunities valued between €100 million and €1 billion. Sectors of interest include healthcare, medical products, financial services, software, IT, information services, and education. Montagu dates back to 1968 and is based in London.


DEAL STATS #
Overall 63 of 73
Sector (Information Technology) 2 of 4
Type (Secondary Buyout) 22 of 27
Country (Norway) 2 of 2
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-04 Aqua Lung

Provence-Alpes-Côte d'Azur, France

Aqua Lung engages in manufacturing of equipment for adventure, fitness and safety whether in the water, on land or in the air. Each of company brands services the specific needs of demanding customers through product innovation, worldwide distribution and customer service. Aqua Lung is dedicated to designing, manufacturing and delivering quality gear for recreational and professional use. Aqua Lung was founded in 1943 and is based in Provence-Alpes-Côte d'Azur, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-27 OASIS Group

Dublin, Ireland

OASIS Group is a largest and most diverse professional records and information management companies in Europe. OASIS provides secure offsite records storage and related services to businesses: hard copy paper storage, media storage, imaging, digital archiving, and destruction services. It operates in 30 locations across six countries, managing vital information for over 5,000 clients. OASIS Group was established in 1999 and is based in Dublin, Ireland.

Buy -
SELLER

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 111 of 125
Sector (Information Technology) 3 of 3
Type (Secondary Buyout) 25 of 29
Country (Norway) 1 of 1
Year (2017) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-24 Chryso

Issy-les-Moulineaux, France

Chryso is an international producer of additives and admixtures which improve the performance of concrete and cement, and construction systems for the repair and maintenance of buildings. Additives and admixtures are used in concrete and cement in order to improve properties such as ease of handling, setting/dying time, fluidity, and resistance to mechanical damage. Formulations are manufactured for use in concrete repair, flooring, adhesives, and waterproofing. Chryso is based in Issy-les-Moulineaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 JOST

Neu-Isenburg, Germany

JOST is a manufacturer of components for connecting truck and trailer units. The Company offers branded quality products clustered in three systems: Vehicle Interface (focusing on products required to operate a commercial vehicle combination of trucks and trailers such as fifth wheels and landing gears), Handling Solutions (including container technology and hydraulic cylinders products) and Maneuvering (focusing on truck and trailer axles and forced steering). JOST was founded in 2008 and is based in Neu-Isenburg, Germany.

Sell -