Buyout (LBO, MBO, MBI) • Consumer Services

TowerBrook Capital Partners Acquires Auto Europe Group

On December 1, 2003, private equity firm TowerBrook Capital Partners acquired consumer services company Auto Europe Group

Acquisition Context
  • This is TowerBrook Capital Partners’ 1st transaction in the Consumer Services sector.
  • This is TowerBrook Capital Partners’ 7th transaction in the United States.
  • This is TowerBrook Capital Partners’ 1st transaction in Maine.
Investment Fate
  • Auto Europe Group was sold to a consortium of financial buyers in 2006.

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M&A Deal Summary

Date December 1, 2003
Target Auto Europe Group
Sector Consumer Services
Buyer(s) TowerBrook Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Auto Europe Group

Portland, Maine, United States
Auto Europe Group is a global distributor of leisure car rental services. Auto Europe operates three primary business units: Auto Europe - North America, which brokers car rentals for outbound North American travelers to Europe under the Auto Europe and Kemwel brands; Auto Europe - Europe, which brokers car rentals for intra-Europe travelers; and DriveAway Holidays, which brokers car rentals for outbound Australian travelers to Europe. Auto Europe Group was founded in 1954 and is based in Portland, Maine.
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Buyer Overview 1

Buyer

TowerBrook Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 22.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TowerBrook Capital Partners is a private equity firm focused on leveraged buyouts, leveraged build-ups and distressed situation investments throughout North America and Europe. TowerBrook prefers control-oriented investments and actively pursues complex situations that other firms may avoid. Target sectors include consumer services, distribution, beverages, pharmaceuticals, media, technology, communications, software, and healthcare. TowerBrook Capital Partners was established in 2001 and is headquartered in New York City.


Deal Context for Buyer #
Overall 11 of 101
Sector: Consumer Services 1 of 3
Type: Buyout (LBO, MBO, MBI) 11 of 36
State: Maine 1 of 1
Country: United States 7 of 42
Year: 2003 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-01 Cablecom GMBH

Zurich, Switzerland

Cablecom is the largest cable communications provider in Switzerland, providing a wide range of services including cable television, Internet access and telephony services to consumer and business customers. Cablecom serves approximately 2.0 million analog cable television (CATV) subscribers, through its own network and partner networks, representing approximately 74% of the Swiss CATV market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-01 WellCare Health Plans

Tampa, Florida, United States

WellCare Health Plans, Inc. is a provider of managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. WellCare offers a variety of health plans for families, children, and the aged, blind, and disabled, as well as prescription drug plans.

Sell -