M&A Deal Summary

The Carlyle Group and CPP Investments Acquire Flender

On October 29, 2020, private equity firm The Carlyle Group and pension CPP Investments acquired manufacturer Flender from Siemens for 2.0B USD

Acquisition Highlights
  • This is The Carlyle Group’s 23rd and CPP Investments’ 3rd transaction in the Manufacturing sector.
  • This is The Carlyle Group’s 36th and CPP Investments’ 25th largest (disclosed) transaction.
  • This is The Carlyle Group’s 20th and CPP Investments’ 5th transaction in Germany.

M&A Deal Summary

Date 2020-10-29
Target Flender
Sector Manufacturing
Buyer(s) The Carlyle Group
CPP Investments
Sellers(s) Siemens
Deal Type Divestiture
Deal Value 2.0B USD

Target

Flender

Bocholt, Germany
Flender is a drive technology company with a comprehensive product and service portfolio that includes gearboxes, couplings, and generators for a wide variety of industries. The business is particularly strong in Wind, a sector benefitting from secular tailwinds given its increasing importance in the energy mix. Flender was formed in 1899 and is based in Bocholt, Germany.

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Buyer(S) 2

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 682 of 750
Sector: Manufacturing M&A 23 of 24
Type: Divestiture M&A Deals 69 of 74
Country: Germany M&A 20 of 26
Year: 2020 M&A 18 of 25
Size (of disclosed) 36 of 137
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-26 Calastone

London, United Kingdom

Calastone is a global funds network, that connects the world’s major financial organizations. Calastone's mission is to help the asset management industry transform by creating innovative new ways to automate and digitalize the global investment funds marketplace, reducing frictional costs, and lowering the operational risk to the benefit of all. Calastone was formed in 2007 and is based in London, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-06 Manna Pro

Chesterfield, Missouri, United States

Manna Pro is a manufacturer and marketer of specialty pet care products, provides food, treats, and a wide assortment of high-quality health and wellness products for companion pets and hobby animals. Manna Pro was formed in 1985 and is based in Chesterfield, Missouri.

Buy -
Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 66 of 116
Sector: Manufacturing M&A 3 of 4
Type: Divestiture M&A Deals 12 of 15
Country: Germany M&A 5 of 8
Year: 2020 M&A 8 of 11
Size (of disclosed) 25 of 39
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-10 Virtusa

Southborough, Massachusetts, United States

Virtusa provides end-to-end information technology (IT) services to companies. Services include IT consulting, application maintenance, development, systems integration, and managed services. Virtusa was founded in 1996 and is based in Southborough, Massachusetts.

Buy $2.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-04 Regnology

Frankfurt, Germany

Regnology is a provider of software solutions across the regulatory value chain. Regnology was founded in 1994 and is based in Frankfurt, Germany.

Buy -

Seller(S) 1

SELLER

Siemens

Munich, Germany

Category Company
Founded 1847
Sector Diversified
Employees320,000
Revenue 75.9B EUR (2024)
DESCRIPTION
Siemens office building in St. Louis, Missouri.
Siemens office building in St. Louis, Missouri.

Siemens is a global engineering and electronics conglomerate company headquartered in Munich. Siemens serves a variety of customers and is organized in in four main divisions: Industry, Energy, Healthcare, and Infrastructure & Cities. Siemens was founded in 1847 and is based in Munich, Germany.


DEAL STATS #
Overall 22 of 27
Sector: Manufacturing M&A 2 of 3
Type: Divestiture M&A Deals 18 of 23
Country: Germany M&A 12 of 16
Year: 2020 M&A 1 of 1
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-15 Avatar Integrated Systems

Santa Clara, California, United States

Avatar Integrated Systems is a developer of place and route software for integrated circuit (IC) design. The company's products enable integrated circuit (IC) designers to create semiconductor chips that enable today's electronic devices, such as smartphones, computers, internet equipment, IoT wearables, etc. Avatar was formed in 2017 and is based in Santa Clara, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Culgi BV

Leiden, Netherlands

Culgi BV is a computational chemistry software company with a focus on multiscale simulations in the process industries. Culgi is based in Leiden, Netherlands.

Buy -