M&A Deal Summary

Permira Acquires BakerCorp

On April 13, 2011, private equity firm Permira acquired retailer BakerCorp from Lightyear Capital for 960M USD

Acquisition Highlights
  • This is Permira’s 8th transaction in the Retail sector.
  • This is Permira’s 37th largest (disclosed) transaction.
  • This is Permira’s 4th transaction in the United States.
  • This is Permira’s 1st transaction in California.
Investment Fate
  • BakerCorp was sold to a publicly-traded strategic buyer in 2018 for 715M USD.

M&A Deal Summary

Date 2011-04-13
Target BakerCorp
Sector Retail
Buyer(s) Permira
Sellers(s) Lightyear Capital
Deal Type Secondary Buyout
Deal Value 960M USD
Advisor(s) Goldman Sachs
Oppenheimer & Co. (Financial)
Simpson Thacher & Bartlett (Legal)

Target

BakerCorp

Seal Beach, California, United States
BakerCorp, Inc. is a provider of liquid containment rental equipment and services in the United States. BakerCorp maintains an equipment portfolio of over 15,000 pieces of rental equipment including steel tanks, polyethylene tanks, intermodal and roll-off container/boxes, pumps, pipes, hose and fittings, tank trailers, berms and filtration products. BakerCorp was founded in 1942 and is based in Seal Beach, California.

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Buyer(S) 1

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.


DEAL STATS #
Overall 72 of 159
Sector (Retail) 8 of 10
Type (Secondary Buyout) 9 of 42
State (California) 1 of 15
Country (United States) 4 of 44
Year (2011) 1 of 3
Size (of disclosed) 37 of 61
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-01 ABS

Hamilton, Bermuda

ABS is a fixed satellite services operator, supplying bandwidth connectivity to broadcasting, telecom, and government customers. ABS was founded in 1997 and is based in Hamilton, Bermuda.

Buy €184M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-26 FreeScale Semiconductor

Austin, Texas, United States

Freescale Semiconductor, Inc. is a designer and manufacturer of embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. FreeScale designs, researches and development, manufacturing or sales operations in more than 30 countries.

Sell -

Seller(S) 1

SELLER

Lightyear Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 4.1B USD
Size Large
Type Sector Focused
DESCRIPTION

Lightyear Capital is a specialist private equity firm that pursues brand-name businesses in the financial services sector. Lightyear looks for companies with stable, recurring revenues that operate in growing markets. Transaction strategies include leveraged buyouts, recapitalizations, restructurings and consolidations. Lightyear Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 10 of 30
Sector (Retail) 1 of 2
Type (Secondary Buyout) 2 of 7
State (California) 1 of 3
Country (United States) 8 of 24
Year (2011) 2 of 2
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-12 Argus Software

Houston, Texas, United States

ARGUS Software, Inc.,a financial technology solutions provider for commercial real estate asset valuation and operations management. ARGUS provides software and services to major commercial real estate companies, enabling them to better manage the financial and operational performance of their real estate portfolios and to improve the flow of information throughout their critical business processes.

Sell $130M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 Paradigm Outcomes

Walnut Creek, California, United States

Paradigm Outcomes is a provider of managed care services for persons with catastrophic injuries from the workplace. Paradigm, through its proprietary databases, processes and medical network, achieves improved outcomes for injured workers as well as significant savings for insurers and other parties involved in their care. Paradigm Outcomes was founded in 1991 and is based in Walnut Creek, California.

Buy -