M&A Deal Summary

Investcorp International, PSP Investments and La Caisse de dépôt et placement du Québec Acquire AlixPartners

On November 7, 2016, asset manager Investcorp International, pension PSP Investments and private equity firm La Caisse de dépôt et placement du Québec acquired financial services company AlixPartners from CVC Capital Partners for 2.5B USD

Acquisition Highlights
  • This is Investcorp International’s 3rd, PSP Investments’ 1st and La Caisse de dépôt et placement du Québec’s 2nd transaction in the Financial Services sector.
  • This is Investcorp International’s , PSP Investments’ 5th and La Caisse de dépôt et placement du Québec’s 6th largest (disclosed) transaction.
  • This is Investcorp International’s 64th, PSP Investments’ 7th and La Caisse de dépôt et placement du Québec’s 3rd transaction in the United States.
  • This is Investcorp International’s 6th, PSP Investments’ 2nd and La Caisse de dépôt et placement du Québec’s 1st transaction in New York.

M&A Deal Summary

Date 2016-11-07
Target AlixPartners
Sector Financial Services
Buyer(s) Investcorp International
PSP Investments
La Caisse de dépôt et placement du Québec
Sellers(s) CVC Capital Partners
Deal Type Secondary Buyout
Deal Value 2.5B USD
Advisor(s) Bank of America Merrill Lynch (BofA Securities)
Deutsche Bank Corporate & Investment Banking
Goldman Sachs Investment Banking Division (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison LLP
Willkie Farr & Gallagher LLP (Legal)

Target

AlixPartners

New York, New York, United States
website
AlixPartners is a performance improvement, corporate turnaround and financial advisory services firm. The AlixPartners' 'one-stop-shop' suite of services range from financial restructuring and operational performance improvement across all major corporate disciplines (manufacturing, supply chain, IT, sales & marketing, working capital, etc.), to financial advisory services (including financial reporting, corporate governance and investigations) to technology-enabled restructuring and claims management. AlixPartners was founded in 1981 and is based in New York.

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Buyer(S) 3

Buyer

Investcorp International

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1982
PE ASSETS 21.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp International, Inc. is a publicly traded global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 124 of 171
Sector (Financial Services) 3 of 5
Type (Secondary Buyout) 44 of 56
State (New York) 6 of 7
Country (United States) 64 of 79
Year (2016) 4 of 6
Size (of disclosed) 1 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-28 Agromillora Iberia

Barcelona, Spain

Agromillora Iberia is a provider of advanced plant propagation for the agricultural industry. It focuses on the development of innovative processes in-vitro multiplication of woody species and the adaptation of new species to super-intensive cultivation techniques. Agromillora Iberia was founded in 1986 and is based in Barcelona, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-08 Calligo

St. Helier, Channel Islands

Calligo is a provider of cloud solutions focused on serving the global mid-tier enterprise segment. The company’s proprietary cloud platform offers the highest levels of data privacy along with application performance guarantees, commercial flexibility and a personalised support service. Calligo was founded in 2012 and is based in St.Helier, Channel Islands.

Buy -
Buyer

PSP Investments

Investor Investor Investor Investor Investor

website


Category Pension
Founded 1999
PE ASSETS 19.4B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.


DEAL STATS #
Overall 13 of 27
Sector (Financial Services) 1 of 1
Type (Secondary Buyout) 4 of 8
State (New York) 2 of 2
Country (United States) 7 of 10
Year (2016) 6 of 6
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-11 AmWINS

Charlotte, North Carolina, United States

AmWINS is a distributor of insurance products, provides property and casualty products, group insurance programs, and administrative services to retail insurance agents. It provides brokerage services in the areas of property, casualty, financial risk, auto, construction, environmental, healthcare, life sciences, and public entity. AmWINS was founded in 1998 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Australian Food & Fibre

Moree , Australia

Australian Food & Fibre is an irrigated row cropping company producer of cotton. Australian Food & Fibre is based in Moree, Australia.

Buy -
DESCRIPTION


DEAL STATS #
Overall 26 of 87
Sector (Financial Services) 2 of 5
Type (Secondary Buyout) 5 of 18
State (New York) 1 of 5
Country (United States) 3 of 23
Year (2016) 12 of 14
Size (of disclosed) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-19 TVS SCS

Chennai, India

TVS SCS is a 3rd party logistics provider across multiple verticals including automotive, distribution, electronics, and discrete component manufacturing. TVS SCS was established in 2004 and is based in Chennai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-22 Demers Ambulances

Beloeil, Quebec, Canada

Demers Ambulances is the second largest ambulance manufacturer in North America. Demers Ambulances is accredited by Transport Canada and is recognized as a "Qualified Vehicles Modification" (QVM) by Ford, holds the US National Truck Equipment Association (NTEA) Member Verification Program (MVP) certification, and holds the BNQ1013 certification from the Bureau de Normalization du Québec (BNQ). Demers Ambulances was founded in 1960 and is based in Beloeil, Quebec.

Buy -

Seller(S) 1

SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 82.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €250 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 124 of 167
Sector (Financial Services) 3 of 5
Type (Secondary Buyout) 28 of 41
State (New York) 1 of 2
Country (United States) 7 of 14
Year (2016) 5 of 5
Size (of disclosed) 8 of 53
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 Anchor Glass

Tampa, Florida, United States

Anchor Glass is a provider of glass packaging in the United States, focusing on the growing, premium specialty segment of the market. Anchor has long-standing relationships with blue chip companies across the beer, liquor, food, beverage, ready-to-drink and consumer end-market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Asplundh

Willow Grove, Pennsylvania, United States

Asplundh is a provider of recurring, nondiscretionary services across three segments: vegetation management, UtiliCon, and commercial landscaping. Asplundh was established in 1928 and is based in Willow Grove, Pennsylvania.

Buy -