M&A Deal Summary

Leonard Green & Partners, Crescent Capital Group and Ardian Acquire Insight Global

On April 5, 2016, private equity firm Leonard Green & Partners, mezzanine finance firm Crescent Capital Group and private equity firm Ardian acquired staffing company Insight Global from Ares Private Equity Group

Acquisition Highlights
  • This is Leonard Green & Partners’ 2nd, Crescent Capital Group’s 1st and Ardian’s 4th transaction in the Staffing sector.
  • This is Leonard Green & Partners’ 55th, Crescent Capital Group’s 47th and Ardian’s 33rd transaction in the United States.
  • This is Leonard Green & Partners’ 3rd, Crescent Capital Group’s 3rd and Ardian’s 5th transaction in Georgia.

M&A Deal Summary

Date 2016-04-05
Target Insight Global
Sector Staffing
Buyer(s) Leonard Green & Partners
Crescent Capital Group
Ardian
Sellers(s) Ares Private Equity Group
Deal Type Secondary Buyout

Target

Insight Global

Atlanta, Georgia, United States
Insight Global is a provider of employment solutions to Fortune 500 customers across the United States and Canada. Insight Global provides long-term, short-term, temporary-to-permanent, placement staffing, and enhanced staffing services. Insight Global was founded in 2001 and is based in Atlanta, Georgia.

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Buyer(S) 3

Buyer

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.


DEAL STATS #
Overall 57 of 107
Sector: Staffing M&A 2 of 2
Type: Secondary Buyout M&A Deals 15 of 48
State: Georgia M&A 3 of 6
Country: United States M&A 55 of 99
Year: 2016 M&A 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-02 The Sports Authority

Englewood, Colorado, United States

The Sports Authority, Inc. is a provider of full-line sporting goods retailers offering a comprehensive high-quality assortment of brand name sporting apparel and equipment at competitive prices. The company operates over 400 stores in 45 states. The Sports Authority, Inc. was formed in 1928 and is based in Englewood, Colorado.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-19 North American Partners in Anesthesia

Melville, New York, United States

North American Partners in Anesthesia is a single specialty anesthesia and perioperative management company in the United States. NAPA is comprised of the most respected clinical staff, providing thousands of patients with superior and attentive care. North American Partners in Anesthesia was founded in 1986 and is based in Melville, New York.

Buy -
Buyer

Crescent Capital Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1991
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Crescent Capital is a provider of debt securities to middle-market companies. Crescent looks to issue senior bank loans, high yield bonds, mezzanine debt and distressed debt to fund a variety of needs. The FIrm's direct lending group looks to provide $10 to $30 million to sponsor-backed companies that generate $5 to $40 million of EBITDA. Crescent's mezzanine practice typically provides junior capital to support buyouts, recapitalizations, and refinancings. Crescent Capital was formed in 1991 and was originally known as TCW/Crescent Mezzanine. The Firm has offices in Los Angeles, Boston, New York, and London.


DEAL STATS #
Overall 53 of 67
Sector: Staffing M&A 1 of 2
Type: Secondary Buyout M&A Deals 19 of 25
State: Georgia M&A 3 of 3
Country: United States M&A 47 of 54
Year: 2016 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-25 Alliance Tire Group B.V.

Hadera, Israel

Alliance Tire Group B.V. is a Manufacture and sale of tires for agricultural, forestry, industrial, and construction machinery. ATG has developed a highly specialized business in the manufacture and sale of tires for agricultural, industrial, construction and forestry machinery. ATG sells radial and bias tires for the aforementioned types of vehicles in 120 countries around the world, with a focus on the North American and European markets.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-24 The Sun Products

Wilton, Connecticut, United States

The Sun Products Corp. is a manufacturer and marketer of fabric care and household products.

Sell $3.6B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 266 of 465
Sector: Staffing M&A 4 of 7
Type: Secondary Buyout M&A Deals 81 of 155
State: Georgia M&A 5 of 7
Country: United States M&A 33 of 70
Year: 2016 M&A 12 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-24 CGE Palea Arsa

Rovereto, Italy

CGE Palea Arsa is a ground based solar plant with an installed capacity of 9.6MW. CGE Palea Arsa is based in Rovereto, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-08 Infopro Digital

Gentilly, France

Infopro Digital is a business-to-business (“B2B”) professional information services provider. The Company is active in three divisions: (i) Software, Data & Leads, which provides tailor-made information and decision-making tools delivered through software packages and digital platforms; (ii) Knowledge & Networking, which produces and delivers industry-specific content and solutions (subscriptions, training, events, etc.); and (iii) Global Trade Shows, which organises industry-specific exhibitions for professionals. Infopro Digital was founded in 2001 and is based in Gentilly, France.

Buy -

Seller(S) 1

SELLER

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 24.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.


DEAL STATS #
Overall 25 of 59
Sector: Staffing M&A 1 of 1
Type: Secondary Buyout M&A Deals 8 of 17
State: Georgia M&A 2 of 4
Country: United States M&A 21 of 47
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-20 WPX Energy - Van Hook Gathering System

Williston Basin, North Dakota, United States

WPX Energy's Van Hook Gathering System consists of pipeline systems that currently gather approximately 11,000 barrels of oil, 6,500 million cubic feet of natural gas. WPX Energy's Van Hook Gathering System is based in Williston Basin, North Dakota.

Buy $185M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-17 RSK Group

Helsby, United Kingdom

RSK Group offers environmental impact assessments, clean-up operations, and geotechnical analysis on major infrastructure projects in the UK and worldwide. RSK Group was founded in 1989 and is based in Helsby, United Kingdom.

Buy -