M&A Deal Summary

Motion Equity Partners, KKR and Ardian Acquires Gruppo Argenta

On December 20, 2007, private equity firm Motion Equity Partners, private equity firm KKR & Co. L.P. and asset manager Ardian acquired consumer services company Gruppo Argenta SpA from PM&PARTNERS SGR SpA and Advent International for 645M EUR

Acquisition Highlights
  • This is Motion Equity Partners’ 1st, KKR’s 1st and Ardian’s 1st transaction in the Consumer Services sector.
  • This is Motion Equity Partners’ 0th, KKR’s 68th and Ardian’s 40th largest (disclosed) transaction.
  • This is Motion Equity Partners’ 2nd, KKR’s 2nd and Ardian’s 3rd transaction in Italy.
Investment Fate
  • Gruppo Argenta was sold to a strategic buyer in 2017.

M&A Deal Summary

Date 2007-12-20
Target Gruppo Argenta SpA
Sector Consumer Services
Buyer(s) Motion Equity Partners
KKR & Co. L.P.
Ardian
Sellers(s) PM&PARTNERS SGR SpA
Advent International
Deal Type Secondary Buyout
Deal Value 645M EUR

Target

Gruppo Argenta SpA

Carpi, Italy
website
Gruppo Argenta SpA is a Italian player in the vending industry with more than 110,000 automatic and OCS machines that serve 55,000 clients and register over 2 million vends per day (over 500 million yearly). Argenta workforce is made of more than 1,500 people including 800 refillers and 280 technicians.

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Buyer(S) 3

Buyer

Motion Equity Partners

Paris, France

Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 700M EUR
SizeLarge
Type Sector Agnostic
DESCRIPTION

Motion Equity Partners is a European private equity firm that targets large buyouts and turnaround situations valued up to €250 million. Broad areas of interest include consumer (leisure, retail, household and consumer goods, food/beverages), industrial (building materials, automotive, manufacturing, chemicals), business services (outsourced services, logistics and transportation, facilities management), and healthcare services and equipment. Motion prefers opportunities located in France, the UK, Germany, and Italy and looks to commit €20 to €80 per transaction. Motion Equity Partners was established in 2001 and is headquartered in Paris.


DEAL STATS #
Overall 28 of 37
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 2 of 6
Country (Italy) 2 of 3
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-05 Diana S.A.S.

Vannes Cedex, France

Diana Ingredients is the global natural ingredients supplier for the pet food and food & beverage industry.

Sell €710M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Fullsix SAS

Levallois-Perret, France

Fullsix International is a independent alternative player in the marketing and communications field in Europe. The agency is positioned on the cutting edge of new interactive techniques such as data mining, SMS and online.

Buy €45M
Buyer

KKR & Co. L.P.

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 367.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

Kohlberg Kravis Roberts & Co. LP (KKR) is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into three business segments which include private markets, public markets, and capital markets and 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 consider investments in a broad range of industries located in 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, is based in New York City, and has offices throughout the globe.


DEAL STATS #
Overall 64 of 385
Sector (Consumer Services) 1 of 6
Type (Secondary Buyout) 6 of 85
Country (Italy) 2 of 5
Year (2007) 13 of 15
Size (of disclosed) 68 of 84
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-13 U.N Ro-Ro Isletmeleri AS

Istanbul, Turkey

U.N Ro-Ro Isletmeleri AS is the largest freight Ro-Ro operator in Turkey, 4th largest in the world. U.N Ro-Ro currently operates twelve Ro-Ro vessels from seven ports (Pendik, Ambarlı, Mersin, Trieste, Toulon, Bari, Patra) that services as the largest intermodal infrastructure between Turkey and Europe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-21 Northgate Information Solutions Ltd.

London, United Kingdom

Northgate Information Solutions Ltd. is a provider of digital HR and multi-country payroll services. Northgate Information Solutions was founded in 1969 and is based in London, United Kingdom.

Buy $2.2B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1996
PE ASSETS 62.0B USD
SizeMega
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 €150 million 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 100 of 372
Sector (Consumer Services) 1 of 3
Type (Secondary Buyout) 26 of 121
Country (Italy) 3 of 27
Year (2007) 27 of 28
Size (of disclosed) 40 of 66
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-20 Numericable-SFR

Paris, France

Numericable-SFR is the cable operator providing digital television, broadband and telephony services to the residential market ('B2C'). The company also serves the enterprise market ('B2B') in France, Belgium, and Luxembourg.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-28 Bharti Infratel Ltd.

New Delhi, India

Bharti Infratel Ltd. is an operator of telecommunication services businesses in India. Bharti's primary assets include national and international long distance licenses, cellular licenses in four metropolitan cities and 11 states and fixed line licenses in five states.

Buy -

Seller(S) 2

SELLER

PM&PARTNERS SGR SpA

Milan, Italy

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 500M EUR
SizeMiddle-Market
Type Sector Agnostic
DESCRIPTION

PM&PARTNERS SGR SpA is a private equity firm that targets investments in small and mid-sized Italian companies generating sales of €30 to €300 million. PM&Partners focuses on opportunities in the industrial and services sectors. PM&Partners will consider both majority and minority interests through buy-out/buy-in and growth capital transactions. PM&Partners was formed in 2000 and is based in Milan with an additional office in Rome.


DEAL STATS #
Overall 3 of 8
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 3 of 5
Country (Italy) 3 of 8
Year (2007) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-02 Maccorp Italiana SpA

Milan, Italy

Maccorp Italiana SpA is an Italian currency exchange (under the brand Forexchange) and money transfer (Western Union circuit) market. The company also operates ticketing services for rail, air and sea travel through its subsidiary Grandi Biglietterie (Agenzie 365 brand).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-09 Emmeti SpA

Montecchio Emilia, Italy

Emmeti SpA is an Italian producer of energy-efficient heating, sanitary water distribution, thermo-hydraulic, and air conditioning systems for civil use. Emmeti was formed in 1982 and is based in Montecchio Emilia, Italy.

Buy -
SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 and $2000 billion and can commit up to $5 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 93 of 196
Sector (Consumer Services) 2 of 4
Type (Secondary Buyout) 19 of 52
Country (Italy) 2 of 4
Year (2007) 13 of 14
Size (of disclosed) 21 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-19 CASA Rehabilitation Holding GmbH

Oberursel, Germany

CASA Rehabilitation Holding GmbH is a private German provider of elderly care services, specialising in high quality, affordable assisted living.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-21 MTI Technology Ltd.

Godalming, United Kingdom

MTI Technology Ltd. is a provider of IT storage infrastructure and security solutions to national and global enterprises. MTI Technology Ltd. was established in 1987 and is headquartered in Godalming, England.

Sell -