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Chequers Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Chequers Capital has acquired 4 companies. It has also invested in 2 others.

Chequers Capital’s most common sectors for investment areinformation technology (17%) and business services (9%) . The Firm’s most common investment types include secondary buyout (49%) and buyout (lbo, mbo, mbi) (30%). In total, Chequers Capital has invested in 7 different countries. Its largest (disclosed) acquisition occurred in 2010 when it acquired DTK Deutsche Telekabel for $74M.

In the last 3 years, Chequers Capital has exited 6 companies. The Firm’s most common exit type is secondary buyout (71%). Chequers Capital’s largest (disclosed) exit occurred in 2018 when it sold Cordenka KG for $270M.

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M&A Summary

  • M&A Total Activity61
    • M&A Buy Activity37
    • M&A Sell Activity24
  • Total Sectors Invested 22
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 16
  • M&A Advisors 23

Chequers Capital

Chequers Partenaires SA

5 Rue François 1er,
Paris, 75008
France
+33 (0)1 53 57 61 00
www.chequerscapital.com
mail@chequerscapital.com

Chequers Capital is a private equity group focused on acquiring and developing small, medium, and large-sized companies in partnership with management. Chequers primarily seek opportunities in France, Germany, Italy, Benelux, Switzerland, and Spain. The Firm looks to commit €40 to €150 million per investment in transactions valued between €80 and €500 million. Sectors of interest broadly include all areas of industrial, distribution, and services. Target transaction situations include turnarounds, recapitalizations, buyouts, and divestitures. Chequers Capital was formed in 1972 and is based in Paris, France.


Investment Criteria

Sectors of Interest: Business Services, Consumer Products, Consumer Services, Defense, Distribution, Electronics, Engineering, Environmental, Healthcare Services, Information Technology, Leisure, Life Science, Machinery, Manufacturing, Metals/Mining, Packaging, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Recapitalization, Special Situations/Distressed, Secondary Buyout

Geographic Preferences: Western Europe

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 40 150
Enterprise Value 80 500
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.0/yr) # 27 4 2 4 - - 37
vol $74M $74M
Sell (1.4/yr) # 17 1 3 1 2 - 24
vol $270M $270M
  61

Most Recent M&A

Company Date Value Type
Fine PCB S.p.A 2024-08-07 - Secondary Sale
Castelfidardo, Italy · www.somacis.com
Fime SAS 2024-05-17 - Secondary Sale
Antony, France · www.fime.com
Nayak-LM Germany GmbH 2023-11-27 - Secondary Buyout
Dusseldorf, Germany · www.nayak.aero
Altea SpA 2023-08-02 - Buyout (LBO, MBO, MBI)
Baveno, Italy · www.alteafederation.it
Cheops Technology NV 2023-07-25 - Secondary Buyout
Antwerp, Belgium · www.cheops.com
Groupe ADENES 2023-06-30 - Growth Capital
Paris, France · www.adenes.eu
MTA S.p.A. 2023-05-06 - Trade Sale
Tribano, Italy · www.mta-it.com
Riri SA 2022-12-16 - Trade Sale
Mendrisio, Switzerland · www.riri.com
Environnement Conseil Travaux 2022-10-11 - Secondary Sale
Villeneuve-sous-Dammartin, France · www.groupe-ect.com
Fine PCB S.p.A 2022-09-28 - Secondary Buyout
Castelfidardo, Italy · www.somacis.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 4 (27%) - 6 (16%) -
Business Services 1 (7%) - 3 (8%) -
Communications 1 (7%) - 2 (5%) 74M (100%)
Apparel/Textiles 1 (7%) - 2 (5%) -
Distribution 1 (7%) - 2 (5%) -
Electronics 1 (7%) - 2 (5%) -
Life Science - - 2 (5%) -
Manufacturing - - 2 (5%) -
Test/Measurement Equipment - - 2 (5%) -
Transportation 1 (7%) - 2 (5%) -
Aerospace 1 (7%) - 1 (3%) -
Building Materials 1 (7%) - 1 (3%) -
Chemicals - - 1 (3%) -
Consumer Services 1 (7%) - 1 (3%) -
Environmental - - 1 (3%) -
Healthcare Services - - 1 (3%) -
Insurance 1 (7%) - 1 (3%) -
Leisure - - 1 (3%) -
Machinery - - 1 (3%) -
Metals/Mining - - 1 (3%) -
Safety/Security 1 (7%) - 1 (3%) -
Semiconductors - - 1 (3%) -
Total 15 - 37 $74M

Acquisitions By Geo

State/Country Current # Value All-time # Value
France 7 (47%) - 16 (43%) -
Germany 4 (27%) - 7 (19%) 74M (100%)
Italy 2 (13%) - 7 (19%) -
Belgium 1 (7%) - 3 (8%) -
Switzerland 1 (7%) - 2 (5%) -
Spain - - 1 (3%) -
Luxembourg - - 1 (3%) -
Domestic 7 (47%) - 16 (43%) -
Cross-border 8 (53%) - 21 (57%) 74M (100%)
Total 15 - 37 $74M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 7 (47%) - 18 (49%) -
Buyout (LBO, MBO, MBI) 4 (27%) - 11 (30%) -
Divestiture 2 (13%) - 4 (11%) 74M (100%)
Growth Capital 2 (13%) - 2 (5%) -
Going Private - - 1 (3%) -
Stake Purchase - - 1 (3%) -
Total 15 - 37 $74M

Exits by Deal Type

Type Total # Value
Secondary Sale 17 (71%) 270M (100%)
Trade Sale - Public Company 4 (17%) -
Trade Sale 2 (8%) -
Stake Sale 1 (4%) -
Total 24 $270M

Top M&A Advisors

Financial Deals
Ethica Corporate Finance
 2
KPMG Corporate Finance
1
N+1 Group
 1
Legal Deals
Clifford Chance
 3
ADVANT Nctm
 2
King & Wood Mallesons
 1

Deal Values

buy # Total
< $100M 1 $74M
TOTAL $74M
Largest DTK Deutsche Telekabel GmbH
$74M (2010-06-29)
sell # Total
$100M to $1B 1 $270M
TOTAL $270M
Largest Cordenka GmbH & Co. KG
$270M (2018-11-16)

M&A Connections

Deals
Acquired from
Investor(s)
43%
16 (43%)
Strategic(s)
14%
5 (14%)
Exited to
Investor(s)
71%
17 (71%)
Strategic(s)
29%
7 (29%)

Investor Summary

Investor Type

Private Equity Firm

Size

Large

PE Assets

2.0B EUR

Established

1972

Specialist/Generalist

Generalist

Leadership

Dennis Metzger

Chairman

Aurelien klein

Managing Partner

Jerome Kinas

Managing Partner

Karsten Hartmann

Managing Partner

Philippe Guérin

Managing Partner

FAQ

When was Chequers Capital founded?

Chequers Capital was founded in 1972.

What type of investor is Chequers Capital?

Chequers Capital is a private equity firm.

Where is Chequers Capital headquartered?

Chequers Capital is headquartered in Paris, France.

How much capital does Chequers Capital have under management?

Chequers Capital has 2.0B EUR under management.

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