M&A Deal Summary

Crescent Capital Group, Oak Hill Capital, Leonard Green & Partners and Ardian Acquire The Container Store

On August 17, 2007, mezzanine finance firm Crescent Capital Group, private equity firm Oak Hill Capital, private equity firm Leonard Green & Partners and private equity firm Ardian acquired retailer The Container Store

Acquisition Highlights
  • This is Crescent Capital Group’s 4th, Oak Hill Capital’s 2nd, Leonard Green & Partners’ 11th and Ardian’s 6th transaction in the Retail sector.
  • This is Crescent Capital Group’s 31st, Oak Hill Capital’s 26th, Leonard Green & Partners’ 23rd and Ardian’s 11th transaction in the United States.
  • This is Crescent Capital Group’s 2nd, Oak Hill Capital’s 2nd, Leonard Green & Partners’ 4th and Ardian’s 3rd transaction in Texas.
Investment Fate
  • The Container Store went public in 2013.

M&A Deal Summary

Date 2007-08-17
Target The Container Store
Sector Retail
Buyer(s) Crescent Capital Group
Oak Hill Capital
Leonard Green & Partners
Ardian
Deal Type Buyout (LBO, MBO, MBI)

Target

The Container Store

Coppell, Texas, United States
The Container Store is a specialty retailer of storage and organizational solutions. The Company currently operates highly-productive destination specialty retail stores across the U.S., an internet and mail order business, and a wholesale business. The Container Store was founded in 1978 and is based in Coppell, Texas.

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Buyer(S) 4

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 36 of 67
Sector: Retail M&A 4 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 17 of 20
State: Texas M&A 2 of 5
Country: United States M&A 31 of 54
Year: 2007 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-19 Compbenefits

Roswell, Georgia, United States

CompBenefits Corporation provides dental and vision care benefit plans in the United States.

Sell $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-27 Scitor

Reston, Virginia, United States

Scitor Corp. is a provider of engineering, financial, management, and related services to the corporate customers. The company offers services for acquisition and life cycle management support, business process improvement, configuration management, facilitation services, feasibility assessments, and integrated logistics support. Scitor was formed in 1979 and is based in Reston, Virginia.

Buy -
Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 30 of 80
Sector: Retail M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 15 of 20
State: Texas M&A 2 of 10
Country: United States M&A 26 of 73
Year: 2007 M&A 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-02 Genpac

Hamilton, Bermuda

Genpact is a provider of business process outsourcing services. Genpact provides services through a global network of service centers. Genpact was founded in 1997 and is based in Hamilton, Bermuda.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-13 American Skiing Co.

Park City, Utah, United States

American Skiing Company is an operator of alpine ski, snowboard and golf resorts in the U.S.

Sell -
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 23 of 107
Sector: Retail M&A 11 of 19
Type: Buyout (LBO, MBO, MBI) M&A Deals 8 of 12
State: Texas M&A 4 of 17
Country: United States M&A 23 of 99
Year: 2007 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-25 BrightView

Blue Bell, Pennsylvania, United States

BrightView is a provider of commercial landscaper, designs, creates, and maintains the landscapes on earth and provides comprehensive snow and ice removal services. BrightView was founded in 1939 and is based in Blue Bell, Pennsylvania.

Buy $847M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-27 Scitor

Reston, Virginia, United States

Scitor Corp. is a provider of engineering, financial, management, and related services to the corporate customers. The company offers services for acquisition and life cycle management support, business process improvement, configuration management, facilitation services, feasibility assessments, and integrated logistics support. Scitor was formed in 1979 and is based in Reston, Virginia.

Buy -
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 91 of 465
Sector: Retail M&A 6 of 15
Type: Buyout (LBO, MBO, MBI) M&A Deals 43 of 124
State: Texas M&A 3 of 8
Country: United States M&A 11 of 70
Year: 2007 M&A 17 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-25 Everis Group

Madrid, Spain

Everis Group is a multinational IT consulting services business headquartered in Spain that offers global solutions to clients in the telecom, industrial, insurance, financial services, public sector and utility industries

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-01 Saveur Group

France

SAVEUR is a French manufacturer of blended ingredients for the food industry.

Buy -