Equistone Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Equistone has acquired 16 companies. It has also invested in 2 others.

Equistone’s most common sectors for investment arebusiness services (12%) and retail (6%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (52%) and secondary buyout (34%). In total, Equistone has invested in 3 US states and 14 different countries. Its largest (disclosed) acquisition occurred in 2002 when it acquired Groupe Zannier S.A. for $709M.

In the last 3 years, Equistone has exited 21 companies. The Firm’s most common exit type is secondary buyout (47%). Equistone’s largest (disclosed) exit occurred in 2011 when it sold Converteam SAS for $3.2B.

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M&A Summary

  • M&A Total Activity444
    • M&A Buy Activity252
    • M&A Sell Activity192
  • Total Sectors Invested 48
  • Total Countries Invested 14
  • M&A Buy/Sell Connections 105
  • M&A Advisors 60

Equistone

Equistone Partners Europe Limited

One New Ludgate 60 Ludgate Hill,
London, EC4M 7AW
United Kingdom
+44 (0)20 7653 5300
www.equistonepe.com

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, England.


Investment Criteria

Sectors of Interest: Aerospace, Agriculture, Apparel/Textiles, Automotive, Building Materials, Business Services, Chemicals, Communications, Construction, Consumer Products, Consumer Services, Distribution, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Engineering, Environmental, Financial Services, Food, Healthcare Services, Information Technology, Infrastructure, Insurance, Leisure, Life Science, Machinery, Manufacturing, Marine, Marketing, Media, Medical Products, Packaging, Publishing, Restaurants, Retail, Safety/Security, Software, Staffing, Technology Hardware, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Going Private, Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: United Kingdom, Western Europe, Eastern Europe, Nordic

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 25 200
Enterprise Value 50 500
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.6/yr) # 234 1 9 5 2 1 252
vol $7.3B $7.3B
Sell (6.0/yr) # 162 9 5 7 5 4 192
vol $17.7B $107M $46M $731M $18.6B
  444

Most Recent M&A

Company Date Value Type
QuestGates Ltd. 2024-08-05 - Growth Capital
Birmingham, United Kingdom · www.questgates.co.uk
Heras B.V. 2024-07-18 - Trade Sale
Oirschot, Netherlands · www.heras.com
Acces Industrie SAS 2024-04-16 - Trade Sale
Tonneins, France · www.acces-industrie.com
Sport Group Holding GmbH 2024-04-08 - Secondary Sale
Burgheim, Germany · www.sportgroup-holding.com
CH&Co Catering Group Ltd. 2024-01-22 731M GBP Trade Sale
Reading, United Kingdom · www.chandcogroup.com
Karavel SA 2023-12-05 - Trade Sale
Paris, France · www.karavel.com
Dugas Co. 2023-09-05 - Trade Sale
Paris, France · www.dugas.fr
Amadys NV 2023-03-09 - Trade Sale
Antwerpen, Belgium · www.amadys.be
Acuity Knowledge Partners 2023-01-27 - Secondary Sale
London, United Kingdom · www.acuitykp.com
Bulgin Ltd. 2023-01-19 - Trade Sale
Cambridge, United Kingdom · www.bulgin.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Rhodius GmbH 2015-05-15 Rhodius - KMS Division 2023-12-12 1
Weissenburg, Germany · www.rhodius.com Weissenburg, Germany
Talon Outdoor Ltd. 2022-07-06 Novus Canada 2023-04-05 2
London, United Kingdom · www.talonoutdoor.com Toronto, Ontario
Ligentia Group 2021-01-05 VGL Solid Group Sp. z o.o. 2022-07-18 1
Leeds, United Kingdom · www.ligentia.com Gdynia, Poland · www.vgl-group.com
Sateco SAS 2019-06-28 Outinord SA 2021-10-01 1
Mirebeau, France · www.sateco.fr Saint Amand les Eaux, France · www.outinord.fr
WHP Telecoms Ltd. 2018-03-28 Redhall Networks 2021-03-30 4
Warrington, United Kingdom · www.whptelecoms.com Barlborough, United Kingdom · www.redhallnetworks.co.uk
NES Fircroft 2012-10-05 Fircroft Engineering Services Ltd. 2020-09-23 1
Altrincham, United Kingdom · www.nesfircroft.com Warrington, United Kingdom · www.fircroft.com
RENA Technologies GmbH 2019-02-21 RENA Technologies Austria 2020-07-27 2
Gütenbach, Germany · www.rena.com Hirtenberg, Austria
Performance Interactive Alliance 2014-04-28 UDG United Digital Group 2019-01-23 4
Hamburg, Germany · www.pia.me Hamburg, Germany · www.udg.de
Novares Group S.A. 2016-01-25 Key Plastics LLC 2016-10-10 1
Clamart, France · www.novaresteam.com Livonia, Michigan · www.keyplastics.com
POLO motorcycle and Sportswear GmbH 2015-02-02 Motoblouz Ltd. 2016-09-26 2
Jüchen, Germany · www.polo-motorrad.de , United Kingdom · www.motoblouz.co.uk

M&A by Sector

Sector Current # Value All-time # Value
Business Services 2 (4%) - 29 (11%) 548M (7%)
Retail 3 (7%) 319M (47%) 14 (6%) 764M (10%)
Consumer Products 2 (4%) - 13 (5%) 422M (5%)
Manufacturing 6 (13%) - 13 (5%) -
Financial Services 1 (2%) - 10 (4%) 1.6B (21%)
Electrical Equipment - - 10 (4%) -
Food 1 (2%) - 8 (3%) 139M (2%)
Distribution 2 (4%) - 8 (3%) 38M (1%)
Consumer Services 1 (2%) - 8 (3%) -
Building Materials 3 (7%) - 7 (3%) 518M (7%)
Transportation 2 (4%) - 7 (3%) 68M (1%)
Engineering 2 (4%) - 6 (2%) 372M (5%)
Healthcare Services - - 6 (2%) 233M (3%)
Leisure 1 (2%) - 6 (2%) 121M (2%)
Information Technology 2 (4%) - 6 (2%) 46M (1%)
Automotive 1 (2%) - 6 (2%) -
Insurance - - 6 (2%) -
Medical Products - - 6 (2%) -
Apparel/Textiles - - 5 (2%) 755M (10%)
Staffing 1 (2%) 360M (53%) 5 (2%) 603M (8%)
Restaurants - - 5 (2%) 190M (2%)
Construction 2 (4%) - 5 (2%) 124M (2%)
Machinery 1 (2%) - 5 (2%) -
Safety/Security 2 (4%) - 5 (2%) -
Packaging - - 4 (2%) 115M (2%)
Communications 2 (4%) - 4 (2%) 102M (1%)
E-Commerce 2 (4%) - 4 (2%) -
Electronics - - 3 (1%) 162M (2%)
Energy Services and Equipment - - 3 (1%) 116M (2%)
Technology Hardware - - 3 (1%) 54M (1%)
Test/Measurement Equipment - - 3 (1%) 32M (< 1%)
Chemicals 2 (4%) - 3 (1%) -
Marketing 2 (4%) - 3 (1%) -
Real Estate - - 3 (1%) -
Airlines - - 2 (1%) 198M (3%)
Media 1 (2%) - 2 (1%) 183M (2%)
Life Science - - 2 (1%) 100M (1%)
Software - - 2 (1%) 15M (< 1%)
Aerospace - - 2 (1%) -
Furniture 1 (2%) - 2 (1%) -
Internet Software and Services - - 2 (1%) -
Plastics - - 2 (1%) -
Information Services - - 1 (< 1%) 85M (1%)
Beverages - - 1 (< 1%) -
Digital Media - - 1 (< 1%) -
Environmental - - 1 (< 1%) -
Publishing - - 1 (< 1%) -
Utilities - - 1 (< 1%) -
Total 45 $679M 254 $7.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United Kingdom 12 (27%) 360M (53%) 101 (40%) 4.3B (58%)
France 10 (22%) 319M (47%) 74 (29%) 1.9B (25%)
Germany 11 (24%) - 42 (17%) 612M (8%)
Italy - - 10 (4%) 146M (2%)
Netherlands 5 (11%) - 8 (3%) -
Switzerland 3 (7%) - 8 (3%) 406M (5%)
United States 1 (2%) - 3 (1%) 33M (< 1%)
  Alabama 1 (2%) - 1 (< 1%) -
  Ohio - - 1 (< 1%) 33M (< 1%)
  California - - 1 (< 1%) -
Spain 1 (2%) - 2 (1%) -
Luxembourg 1 (2%) - 1 (< 1%) -
Portugal 1 (2%) - 1 (< 1%) -
Ireland - - 1 (< 1%) 14M (< 1%)
Austria - - 1 (< 1%) -
Belgium - - 1 (< 1%) -
Cyprus - - 1 (< 1%) -
Domestic 12 (27%) 360M (53%) 101 (40%) 4.3B (58%)
Cross-border 33 (73%) 319M (47%) 153 (60%) 3.1B (42%)
Total 45 $679M 254 $7.4B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 12 (27%) - 131 (52%) 3.1B (41%)
Secondary Buyout 24 (53%) 360M (53%) 85 (33%) 3.0B (39%)
Divestiture 5 (11%) 319M (47%) 16 (6%) 770M (10%)
Growth Capital 4 (9%) - 12 (5%) -
Going Private - - 5 (2%) 765M (10%)
Stake Purchase - - 5 (2%) -
Total 45 $679M 254 $7.6B

Exits by Deal Type

Type Total # Value
Secondary Sale 100 (52%) 8.7B (47%)
Trade Sale 48 (25%) 1.6B (9%)
Trade Sale - Public Company 24 (13%) 8.0B (44%)
Sold to Management 12 (6%) -
Bankruptcy 3 (2%) -
IPO 2 (1%) -
Merger 1 (1%) -
Stake Sale 1 (1%) -
Unknown 1 (1%) -
Total 192 $18.4B

Top M&A Advisors

Financial Deals
KPMG Corporate Finance LLC
 8
PwC Corporate Finance LLC
 8
Daiwa Corporate Advisory Ltd. (DC Advisory)
 6
Legal Deals
Travers Smith
 14
P+P Pöllath + Partners
 13
Ashurst
 7

Deal Values

buy # Total
$100M to $1B 26 $6.3B
< $100M 29 $1.4B
TOTAL $7.7B
Largest Groupe Zannier S.A.
$709M (2002-12-01)
sell # Total
> $1B 4 $6.4B
$100M to $1B 38 $11.2B
< $100M 16 $952M
TOTAL $18.6B
Largest Converteam SAS
$3.2B (2011-09-02)

M&A Connections

Deals
Acquired from
Investor(s)
32%
82 (32%)
Strategic(s)
6%
14 (6%)
Exited to
Investor(s)
46%
89 (46%)
Strategic(s)
36%
70 (36%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

9.6B EUR

Established

1997

Specialist/Generalist

Generalist

Leadership

Guillaume Jacqueau

Managing Partner & Country Head

Dominic Geer

Senior Partner

Gregoire Chatillon

Senior Partner

Owen Clarke

Senior Partner & Chairman of Supervisory Board

Oskar Schilcher

Senior Partner & CIO

FAQ

When was Equistone founded?

Equistone was founded in 1997.

What type of investor is Equistone?

Equistone is a private equity firm.

Where is Equistone headquartered?

Equistone is headquartered in London, United Kingdom.

How much capital does Equistone have under management?

Equistone has 9.6B EUR under management.

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