M&A Deal Summary

Permira Acquires Just Group

On September 25, 2009, private equity firm Permira acquired financial services company Just Group from Langholm Capital for 225M GBP

Acquisition Highlights
  • This is Permira’s 1st transaction in the Financial Services sector.
  • This is Permira’s 53rd largest (disclosed) transaction.
  • This is Permira’s 25th transaction in the United Kingdom.
Investment Fate
  • Just Group went public in 2013.

M&A Deal Summary

Date 2009-09-25
Target Just Group
Sector Financial Services
Buyer(s) Permira
Sellers(s) Langholm Capital
Deal Type Secondary Buyout
Deal Value 225M GBP
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)

Target

Just Group

Reigate, United Kingdom
website
Just Group is a specialist financial services company that provides innovative financial solutions designed to meet the needs of people at or in retirement. The company is a market leader in providing enhanced retirement annuities, a product which takes into account the specific health and lifestyle circumstances of a retired customer to offer significantly better rates than traditional annuity providers. Just Group was founded in 2004 and is based in Reigate, the United Kingdom.

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Buyer(S) 1

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

website


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 67 of 156
Sector (Financial Services) 1 of 6
Type (Secondary Buyout) 6 of 41
Country (United Kingdom) 25 of 35
Year (2009) 1 of 1
Size (of disclosed) 53 of 60
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-19 Jet Aviation

Zurich, Switzerland

Jet Aviation is a Swiss-based international business aviation services company. The company provides maintenance, completions and refurbishment, engineering and fixed base operations, along with aircraft management, charter services, aircraft sales and personnel services.

Sell $2.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-01 The Gala Group

Nottingham, United Kingdom

The Gala Group is a provider of bingo and casino operations in the UK.

Sell -

Seller(S) 1

SELLER

Langholm Capital

London, United Kingdom

Investor

website


Category Private Equity Firm
Founded 2002
PE ASSETS 250M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Langholm Capital is an independent private equity firm that targets investments in middle-market consumer-oriented companies. Specific areas of interest include companies that target markets in health and well-being, convenience, services aimed at the aging population, and emerging/innovative brands. Langholm Capital looks for companies valued up to €200 million and generally based in the UK and Western Europe. Langholm Capital was formed in 2002 and is headquartered in London.


DEAL STATS #
Overall 2 of 5
Sector (Financial Services) 1 of 1
Type (Secondary Buyout) 1 of 2
Country (United Kingdom) 2 of 4
Year (2009) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-14 Tyrrells Potato Crisps

Leominster, United Kingdom

Tyrrells Potato Crisps Ltd. is a diversified, international snacking company that manufactures and markets iconic, market-leading brands including Tyrrells Potato Crisps®, Tyrrells branded Vegetable Crisps, Tyrrells Poshcorn®, Tyrrells Nibbles®, Tyrrells Tortillas®, in the United Kingdom, Europe and many other international markets; Yarra Valley, manufacturer of Thomas Chipman and The Wholesome Food Company brands in Australia; and Aroma Snacks, manufacturer of Lisa’s kettle chips in Germany.

Buy $40M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-01 The Bart Ingredients

Bristol, United Kingdom

The Bart Ingredients Co., Ltd. produces blends cooking ingredients. The Bart Ingredients was founded in 1963 and is based in Bristol, United Kingdom.

Buy -