M&A Deal Summary

LIXIL Acquires Grohe Deutschland Vertriebs

On September 26, 2013, LIXIL acquired building materials company Grohe Deutschland Vertriebs from TPG and aPriori Capital Partners for 4.1B USD

Acquisition Highlights
  • This is LIXIL’s 2nd transaction in the Building Materials sector.
  • This is LIXIL’s largest (disclosed) transaction.
  • This is LIXIL’s 1st transaction in Germany.

M&A Deal Summary
Date 2013-09-26
Target Grohe Deutschland Vertriebs
Sector Building Materials
Buyer(s) LIXIL
Sellers(s) TPG
aPriori Capital Partners
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) ACXIT Capital Holding GmbH (Financial)
Weil Gotshal & Manges
Clifford Chance (Legal)

Target

Grohe Deutschland Vertriebs

Deutschland, Germany
website
Grohe Deutschland Vertriebs GmbH is a manufacturers of sanitary fittings (taps, faucets and showers), offering a broad range of products for handling water in bathrooms and kitchens.

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Buyer(S) 1

Buyer

LIXIL

Tokyo, Japan

website

Category Company
Founded 1875
Sector Building Materials
Employees51,879
Revenue 1,378.3B JPY (2021)
DESCRIPTION

LIXIL Manufacture and sales of building materials and housing equipment as well as related services. LIXIL was founded in 1923 and is based in Tokyo, Japan.

DEAL STATS #
Overall 4 of 4
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 4 of 4
Country (Germany) 1 of 1
Year (2013) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-21 American Standard Brands

Piscataway, New Jersey, United States

American Standard Brands is a manufacturer of bath and kitchen products.

Buy $542M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Ken Depot pro

Tokyo, Japan

Ken Depot pro is a retailer/distributor of construction materials and tools with over 60 stores catering to over 600,000 construction industry professionals. Ken Depot pro was founded in 2015 and is based in Tokyo, Japan.

Sell -

Seller(S) 2

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 107 of 245
Sector (Building Materials) 1 of 2
Type (Add-on Acquisition) 47 of 89
Country (Germany) 3 of 5
Year (2013) 14 of 22
Size (of disclosed) 13 of 71
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-26 UniTrust Finance & Leasing

Shanghai, China

UniTrust Finance & Leasing Corporation provides financial and operating leasing, and leasing consultancy services.

Sell $715M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-30 Evolent Health

Arlington, Virginia, United States

Evolent Health partners with major health systems to drive value-based care transformation. By providing clinical, analytical, and financial capabilities, Evolent helps physicians and systems achieve superior quality and cost results. Evolent Health was founded in 2011 and is based in Arlington, Virginia.

Buy -
SELLER

aPriori Capital Partners

Investor Investor Investor

website

Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.

DEAL STATS #
Overall 40 of 51
Sector (Building Materials) 2 of 2
Type (Add-on Acquisition) 18 of 22
Country (Germany) 1 of 1
Year (2013) 3 of 3
Size (of disclosed) 5 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-09 Neiman Marcus

Dallas, Texas, United States

Neiman Marcus Group Inc. is a specialty retailer with online and offline operations. The Company's retail stores segment consists primarily of Neiman Marcus, Bergdorf Goodman and Last Call stores. The Online segment conducts both catalog and online operations under the Neiman Marcus, Bergdorf Goodman and Horchow brand names. Neiman Marcus was originally established in 1907 and is headquartered Dallas, Texas.

Sell $6.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-14 Nuveen Investments

Chicago, Illinois, United States

Nuveen Investments LLC provides high-quality investment services designed for institutions and high-net-worth investors as well as the consultants and financial advisors who serve them.

Sell $6.3B
Mergr

Product

Company

Legal