M&A Deal Summary

Lone Star Funds Acquires The Xella Group

On December 1, 2016, private equity firm Lone Star Funds acquired building materials company The Xella Group from PAI Partners and Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is Lone Star Funds’ 3rd transaction in the Building Materials sector.
  • This is Lone Star Funds’ 1st transaction in Germany.

M&A Deal Summary
Date 2016-12-01
Target The Xella Group
Sector Building Materials
Buyer(s) Lone Star Funds
Sellers(s) PAI Partners
Goldman Sachs Merchant Banking
Deal Type Secondary Buyout

Target

The Xella Group

Duisburg, Germany
website
The Xella Group is an international solution providers in the field of building and insulation materials. Xella is the parent company of such well-known brands as Ytong, Silka, Hebel, and Multipor, and is one of the pioneers in digitally supported construction processes with its digital planning service blue.sprint.

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Buyer(S) 1

Buyer

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 85.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.

DEAL STATS #
Overall 16 of 26
Sector (Building Materials) 3 of 4
Type (Secondary Buyout) 8 of 13
Country (Germany) 1 of 2
Year (2016) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-30 American Bath Group

Savannah, Tennessee, United States

American Bath Group is a manufacturer of residential, commercial, assisted living, senior care, and premium showroom bathing products. The Company sells its products through wholesale and retail channels to a diverse base of builders, plumbers, general contractors, and individual end-users. ABG's predecessor entity was founded in 1993 and is based in Savannah, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-13 Altadia Group

Castellón, Spain

Altadia is a manufacturer of intermediate products for the production of ceramic tiles. Altadia employs people across 19 countries with a global manufacturing footprint consisting of 32 production plants and 19 distribution centers. Altadia is based in Castellón, Spain.

Buy €605M

Seller(S) 2

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.

DEAL STATS #
Overall 30 of 48
Sector (Building Materials) 2 of 2
Type (Secondary Buyout) 13 of 24
Country (Germany) 2 of 2
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-12 Azets

London, United Kingdom

Azets is an international accounting, tax, audit, advisory and business services group supporting entrepreneurial businesses and their owners and managers in achieving long term, sustainable success through the provision of critical business support, BPO and advisory services. Azets was founded in 2016 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-22 Cerba European Lab

Saint-Ouen-l'Aumône, France

Laboratoire CERBA SA is active in all three segments of the clinical pathology business, namely esoteric, routine and central lab. CEL operates in 34 locations across Europe, the United States, South Africa, Australia and China. It has a staff of over 1,300 employees, including 85 clinical pathologists and performs 85,000 tests daily.

Sell -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

website

Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 69 of 108
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 19 of 32
Country (Germany) 6 of 6
Year (2016) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 Tracelink

Wilmington, Massachusetts, United States

Tracelink is a provider of track and traces network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Tracelink was founded in 2009 and is based in Wilmington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-19 Brown Jordan

St. Augustine, Florida, United States

Brown Jordan is a designer, manufacturer and marketer of quality home furnishings and contract furnishings, selling a full range of products. Brown Jordan International offers innovative designs, superior quality, efficient production methods and a strong portfolio of recognized brands including Brown Jordan, Winston, Casual Living Worldwide, Charter, Tropitone and Texacraft. Brown Jordan is based in St. Augustine, Florida.

Buy -
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