M&A Deal Summary

KKR and Triton Partners Acquire Ambea

On February 23, 2010, private equity firms KKR and Triton Partners acquired healthcare services company Ambea from 3i Private Equity and Intermediate Capital Group for 5.2B SEK

Acquisition Highlights
  • This is KKR’s 4th and Triton Partners’ 2nd transaction in the Healthcare Services sector.
  • This is KKR’s 80th and Triton Partners’ 3rd largest (disclosed) transaction.
  • This is KKR’s 1st and Triton Partners’ 11th transaction in Sweden.

M&A Deal Summary

Date 2010-02-23
Target Ambea
Sector Healthcare Services
Buyer(s) KKR
Triton Partners
Sellers(s) 3i Private Equity
Intermediate Capital Group
Deal Type Secondary Buyout
Deal Value 5.2B SEK

Target

Ambea

Stockholm, Sweden
Ambea is an elderly and disabled care services provider. Ambea is active in the public-pay market for care services through Vardaga and Nytida which mainly provide services on behalf of local and regional authorities. Nytida is one of the leading providers of care for the disabled and Vardaga is one of the leading private providers of elderly care services in the Nordic region. Ambea also provides medical personnel staffing services through Rent-A-Doctor, Rent-A-Nurse and Careteam. Ambea was formed in 1996 and is based in Stockholm, Sweden.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


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 79 of 437
Sector (Healthcare Services) 4 of 15
Type (Secondary Buyout) 8 of 109
Country (Sweden) 1 of 4
Year (2010) 4 of 13
Size (of disclosed) 80 of 94
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-27 Pets at Home Group

Handforth, United Kingdom

Pets at Home Group is a specialist retailer of pet food, pet related products and accessories. Pets at Home was founded in 1991 and is based in Handforth, the United Kingdom.

Buy £955M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-01 Mehiläinen

Helsinki, Finland

Mehiläinen provides a full range of healthcare and social care services through a comprehensive network of over 360 units and employing more than 14,000 professionals. Healthcare services ranges from outpatient clinics, occupational healthcare, specialist care and dental care, whereas social care services include elderly care, and disabled, mental rehabilitation, and child welfare. Mehiläinen was founded in 1909 and is based in Helsinki, Finland.

Buy -
Buyer

Triton Partners

Frankfurt, Germany

Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 15.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Triton Partners is an investment firm focused on investing in medium-size companies headquartered in Western and Northern Europe. This includes businesses in Germany, Switzerland, Austria, Denmark, Finland, Norway, and Sweden. Triton generally pursues market leading companies with the potential for change, as well as growth opportunities through operational improvements. Sectors of interest include business services, consumer products, consumer services, healthcare, and industrials. Triton Partners was formed in 1997 and is based in Frankfurt, Germany.


DEAL STATS #
Overall 22 of 92
Sector (Healthcare Services) 2 of 5
Type (Secondary Buyout) 5 of 25
Country (Sweden) 11 of 20
Year (2010) 2 of 8
Size (of disclosed) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Polygon

Stockholm, Sweden

Polygon is a fire and water property damage restoration service provider with global operations serving a range of sectors including insurance, property management, and industrial clients. Polygon is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-01 Mehiläinen

Helsinki, Finland

Mehiläinen provides a full range of healthcare and social care services through a comprehensive network of over 360 units and employing more than 14,000 professionals. Healthcare services ranges from outpatient clinics, occupational healthcare, specialist care and dental care, whereas social care services include elderly care, and disabled, mental rehabilitation, and child welfare. Mehiläinen was founded in 1909 and is based in Helsinki, Finland.

Buy -

Seller(S) 2

SELLER

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor


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 105 of 194
Sector (Healthcare Services) 8 of 10
Type (Secondary Buyout) 44 of 83
Country (Sweden) 9 of 15
Year (2010) 2 of 11
Size (of disclosed) 14 of 78
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-17 Regina Maria

Bucharest, Romania

Regina Maria is a medical services company currently operating 8 clinics for primary care in Bucharest, a surgery clinic, women’s’ clinic and maternity services. The company has a major focus on corporate subscriptions, providing integrated medical services for more than 43,000 subscribers. Regina Maria was founded in 1991 and is based in Bucharest, Romania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-02 Global Garden Products

Castelfranco Veneto, Italy

Global Garden Products provides a powered garden equipment market leader with a particularly strong position in Italy, Scandinavia and the UK. Global Garden Products was founded in 2000 and is based in Castelfranco Veneto, Italy.

Sell -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 103 of 217
Sector (Healthcare Services) 7 of 13
Type (Secondary Buyout) 41 of 82
Country (Sweden) 8 of 9
Year (2010) 2 of 13
Size (of disclosed) 37 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Springer Science + Business Media KG

Berlin, Germany

Springer Science+Business Media Deutschland GmbH is a publisher of scientific research journals in Science, Technology and Medicine (STM) and a publisher of STM books. Springer is also a specialist information provider in German-speaking countries. The group publishes around 2000 journals and more than 6,500 new books per year

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-16 Sebia

Lisses, France

Sebia is a provider of clinical protein electrophoresis equipment and reagents, a technology used for in-vitro diagnostic testing. Its systems analyse proteins in order to screen and monitor various diseases and conditions; primarily oncology (Multiple Myeloma), metabolic disorders such as Diabetes and also Hemoglobinopathy and rare pathologies. Sebia was founded in 1967 and is headquartered in Lisses, France.

Sell -