Buyout (LBO, MBO, MBI) • Distribution

Ridgemont Equity Partners, CD&R, Ardian and Court Square Capital Partners Acquire Rexel

On March 18, 2005, private equity firms Ridgemont Equity Partners, CD&R, Ardian and Court Square Capital Partners acquired distribution company Rexel

Acquisition Context
  • This is Ridgemont Equity Partners’ 2nd, CD&R’s 3rd, Ardian’s 2nd and Court Square Capital Partners’ 1st transaction in the Distribution sector.
  • This is Ridgemont Equity Partners’ 1st, CD&R’s 1st, Ardian’s 18th and Court Square Capital Partners’ 1st transaction in France.
Investment Fate
  • Rexel went public in 2007.

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M&A Deal Summary

Date March 18, 2005
Target Rexel
Sector Distribution
Buyer(s) Ridgemont Equity Partners
CD&R
Ardian
Court Square Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Rexel

Paris, France
Rexel is a distributor of electrical parts and supplies. The Company supplies customers involved in residential, commercial and industrial construction, maintenance and renovation and currently has a network of approximately 1,700 branches in 29 countries, providing over 1.2 million products and related services. Rexel was founded in 1967 and is based in Paris, France.
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Buyers Overview 4

Buyer

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


Deal Context for Buyer #
Overall 51 of 136
Sector: Distribution 2 of 12
Type: Buyout (LBO, MBO, MBI) 28 of 58
Country: France 1 of 1
Year: 2005 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-15 Phoenix Scientific

Fort Dodge, Iowa, United States

Phoenix Scientific, Inc. manufactures veterinary pharmaceutical preparations Toy balloons or balls, Dolls, Doll houses, Stuffed animals or puppets, Playhouses, Building blocks, Riding toys, Pull toys, Childrens science kits, Toy vehicles, Toy trains, Inflatable toys, Doll parts or accessories, Yo yos, Kites, Pogs, Kaleidoscopes, Pom poms, Pinatas, Boomerangs, Flying discs, Toy pails.

Sell $196M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-08 IGN Entertainment

San Francisco, California, United States

IGN Entertainment is an Internet media and services company focused on the video game and entertainment enthusiast markets, attracting more than 28 million unique monthly users. The company's network of videogame-related properties (IGN.com, GameSpy, FilePlanet, TeamXbox, Direct2Drive and others), is the web's number one video game information destination and attracts one of the largest concentrated audiences of young males on the Internet.

Sell $650M
Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


Deal Context for Buyer #
Overall 11 of 94
Sector: Distribution 3 of 17
Type: Buyout (LBO, MBO, MBI) 4 of 12
Country: France 1 of 6
Year: 2005 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-30 Culligan

Rosemont, Illinois, United States

Culligan offers water softeners, filtration systems, industrial water treatment solutions, and drinking water systems. Culligan was founded in 1936 and is based in Rosemont, Illinois.

Buy $610M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-11 Hertz

Estero, Florida, United States

Hertz operates car rental businesses through the Hertz, Dollar, Thrifty and Firefly brands. Hertz Global operates through corporate and franchisee locations and services the North American, European, Latin and South American, Asian, Australian, African, and Middle Eastern markets. In addition to its car rental business, Hertz provides fleet leasing and management services through its Donlen subsidiary. Hertz was originally established in 1918 and is based in Estero, Florida.

Buy $15.0B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
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 €1 billion 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 Context for Buyer #
Overall 24 of 465
Sector: Distribution 2 of 7
Type: Buyout (LBO, MBO, MBI) 12 of 124
Country: France 18 of 207
Year: 2005 6 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-16 Tetra

Melle, Germany

Producer of aquatic pet food.

Sell $551M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 ISS

Soborg, Denmark

ISS is a provider of workplace experience and facility management services, operating across regions including the UK, Ireland, the U.S., Canada, Switzerland, Germany, Australia, New Zealand, Türkiye, Spain, Denmark, and various international markets. The company delivers a broad portfolio of offerings such as office space solutions, enhanced workspace services, and production-area support. Its cleaning services cover manufacturing sites, transport and infrastructure facilities, food-related environments, and hospitality or event venues.. ISS was founded in 1901 and is based in Soborg, Denmark.

Buy -
Buyer

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


Deal Context for Buyer #
Overall 9 of 69
Sector: Distribution 1 of 5
Type: Buyout (LBO, MBO, MBI) 8 of 17
Country: France 1 of 1
Year: 2005 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 IWCO Direct

Chanhassen, Minnesota, United States

IWCO Direct provides direct marketing solutions focused on customer acquisition, retention and engagement to financial services, media, and consumer products companies in the U.S. IWCO Direct was founded in 1969 and is based in Chanhassen, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-30 SGS

Louisville, Kentucky, United States

SGS is a global provider of packaging graphic services to branded consumer products companies, retailers and the printers that service them. SGS was founded in 1946 and is based in Louisville, Kentucky.

Buy $410M