M&A Deal Summary

CVC Capital Partners, BC Partners and Permira Acquire Seat Pagine Gialle

On August 1, 2003, private equity firms CVC Capital Partners, BC Partners and Permira acquired media company Seat Pagine Gialle

Acquisition Highlights
  • This is CVC Capital Partners’ 1st, BC Partners’ 1st and Permira’s 2nd transaction in the Media sector.
  • This is CVC Capital Partners’ 2nd, BC Partners’ 2nd and Permira’s 4th transaction in Italy.
Investment Fate
  • Seat Pagine Gialle merged with another company in 2016.

M&A Deal Summary
Date 2003-08-01
Target Seat Pagine Gialle
Sector Media
Buyer(s) CVC Capital Partners
BC Partners
Permira
Deal Type Buyout (LBO, MBO, MBI)

Target

Seat Pagine Gialle

Milano, Italy
website
Seat Pagine Gialle is a European directory advertising, web marketing services, and business information group, based in Italy, with significant activities in Germany and the UK.

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Buyer(S) 3

Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.

DEAL STATS #
Overall 78 of 319
Sector (Media) 1 of 10
Type (Buyout (LBO, MBO, MBI)) 63 of 122
Country (Italy) 2 of 15
Year (2003) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-11 IG Group Holdings

London, United Kingdom

IG Group Holdings is the United Kingdom's leading provider of speculative investment products to retail and institutional clients around the world. IG Group Holdings was founded in 1974 and is based in London, the United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-22 Cromology

Clichy, France

Cromology designs, manufactures, sells, and distributes a wide range of decorative paints and products to professionals and consumers through its presence in eight European countries. 65% of its activity is in France, 35% in Southern Europe, and in the rest of the world. Cromology was founded in 1986 and is based in Clichy, France.

Sell €1.1B
Buyer

BC Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1986
PE ASSETS 17.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

BC Partners is a mega private equity firm that invests in high quality businesses with leading market positions. BC does not specialize in any particular sector and makes only a select number of investments per year (3 in 2008, 2 in 2007, 3 in 2006). Sectors of interest include healthcare, directory publishing, media, industrial products, food, distribution, manufacturing, consumer services, business services, and communications. BC Partners was formed in 1986 and has offices in London, Paris, Hamburg, and New York.

DEAL STATS #
Overall 20 of 96
Sector (Media) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 15 of 32
Country (Italy) 2 of 9
Year (2003) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-08 Aviagen Group

Newbridge, United Kingdom

Aviagen Group Ltd. provides breeder of poultry stock for meat production and operates production facilities across the globe.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 KTM Kuhler

Mattighofen, Austria

KTM Kuhler GmbH is a manufacturer of aluminium-based charge air / oil / water coolers and oil/water heat exchangers for both the motorcycle and automotive industries.

Sell €402M
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 37 of 156
Sector (Media) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 29 of 53
Country (Italy) 4 of 14
Year (2003) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-07-01 Palini e Bertoli

San Giorgio di Nogaro, Italy

Palini & Bertoli is one of Italy's largest producers of carbon steel plates, supplying mechanical and structural steel companies in Europe. It focuses on the specialist segment of the market where a wide range of thicknesses, flexibility and delivery times are required. A company backed by the Permira funds acquired Palini & Bertoli in November 1999.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-31 TFL

Singapore, Singapore

TFL (Together for Leather) is a key player in leather chemicals market. The company researches, manufactures and markets chemicals products and provided application services for the treatment of leather for tanneries. TFL was founded in 1996 and is based in Singapore.

Sell -
Mergr

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