M&A Deal Summary

Centerbridge Partners and SVP Global Acquire IPC Systems

On February 9, 2015, asset manager Centerbridge Partners and distressed investor SVP Global acquired communications company IPC Systems from Silver Lake for 1.2B USD

Acquisition Highlights
  • This is Centerbridge Partners’ 1st and SVP Global’s 1st transaction in the Communications sector.
  • This is Centerbridge Partners’ 4th and SVP Global’s largest (disclosed) transaction.
  • This is Centerbridge Partners’ 17th and SVP Global’s 1st transaction in the United States.
  • This is Centerbridge Partners’ 1st and SVP Global’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2015-02-09
Target IPC Systems
Sector Communications
Buyer(s) Centerbridge Partners
SVP Global
Sellers(s) Silver Lake
Deal Type Secondary Buyout
Deal Value 1.2B USD
Advisor(s) Evercore Group
Goldman Sachs (Financial)
Simpson Thacher & Bartlett (Legal)

Target

IPC Systems

Jersey City, New Jersey, United States
website
IPC Systems is a global provider of mission-critical network services and trading communication technology to the financial markets community. IPC Systems was founded in 1973 and is based in Jersey City, New jersey.

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Buyer(S) 2

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 18 of 46
Sector (Communications) 1 of 2
Type (Secondary Buyout) 10 of 26
State (New Jersey) 1 of 1
Country (United States) 17 of 38
Year (2015) 2 of 7
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Boart Longyear

Salt Lake City, Utah, United States

Boart Longyear is a provider of drilling services, orebody-knowledge technology, and innovative, safe and productivity-driven drilling equipment. The Company’s primary focus is on mining and exploration activities spanning commodities including copper, gold, nickel, zinc, uranium, and other minerals. Boart Longyear was established in 1890 and is based in Salt Lake City, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-02 BFF Bank

Milan, Italy

BFF Bank is a provider of factoring and credit management services to companies that hold credit positions towards public administration, in particular, public health local administration entities. The company engages in the management and non-recourse sale of trade receivables due from public administrations and national healthcare systems. It provides financial and management support services to companies operating primarily in the pharmaceutical and biomedical sectors. BFF Bank was founded in 1985 and is based in Milan, Italy.

Buy -
Buyer

SVP Global

Investor Investor Investor Investor Investor

website

Category Distressed Investor
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Strategic Value Partners is an opportunistic asset management firm focused on distressed opportunities. The Firm targets distressed, deep-value opportunities where it typically takes an active role in transactions, whether driving the financial restructuring of companies facing bankruptcy, on ad hoc or formal creditors’ committees, or leading the turnaround of a business by driving the strategic and operational direction of the company. Strategic Value Partners was established in 2001 and is headquartered in Greenwich, Connecticut.

DEAL STATS #
Overall 2 of 14
Sector (Communications) 1 of 1
Type (Secondary Buyout) 2 of 3
State (New Jersey) 1 of 1
Country (United States) 1 of 8
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-22 Klockner Pentaplast

Heiligenroth, Germany

Klockner Pentaplast is a producer of films for pharmaceutical, medical device, food, electronics, and general-purpose thermoform packaging, as well as printing and specialty applications. Klockner Pentaplast was founded in 1965 and is based in Heiligenroth, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Vita Group

Manchester, United Kingdom

Vita Group is a manufacturer and processes a wide assortment of polymers, including cellular foams, synthetic fiber fillings, specialized and coated textiles, and polymer compounds and moldings. The company's products are used in furniture, carpet underlay, bedding, apparel, automobile seat cushions, and more. Vita Group is made up of three divisions: the industrial group makes thermoplastic sheet goods, the fiber and fabric division makes products used in clothing and construction industries, and the foam group makes cellular polymer products. Vita Group was founded in 1949 and is based in Manchester, England.

Buy -

Seller(S) 1

SELLER

Silver Lake

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1999
PE ASSETS 102.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.

DEAL STATS #
Overall 27 of 58
Sector (Communications) 1 of 2
Type (Secondary Buyout) 4 of 9
State (New Jersey) 2 of 2
Country (United States) 18 of 45
Year (2015) 1 of 6
Size (of disclosed) 13 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-03 Relativity

Chicago, Illinois, United States

Relativity is a developer of software to manage large volumes of data and quickly identify key issues during litigation, internal investigations, and compliance operations with SaaS platform RelativityOne and Relativity Trace. Relativity is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-16 Carbon3D Partners

Redwood City, California, United States

Carbon3D is a 3D printing company working at the intersection of hardware, software and molecular science. Its Continuous Liquid Interface Production technology (CLIP) harnesses light and oxygen to grow commercial quality parts 25-100X faster than conventional 3D printing.

Buy -
Mergr

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Legal