M&A Deal Summary

23 & Park Acquires Rentandes

On June 7, 2019, private equity firm 23 & Park acquired business services company Rentandes from The Abraaj Group

Acquisition Highlights
  • This is 23 & Park’s 1st transaction in the Business Services sector.
  • This is 23 & Park’s 1st transaction in Colombia.

M&A Deal Summary

Date 2019-06-07
Target Rentandes
Sector Business Services
Buyer(s) 23 & Park
Sellers(s) The Abraaj Group
Deal Type Secondary Buyout

Target

Rentandes

Bogota, Colombia
Rentandes specializes in the long-term rental of transportation, construction equipment, and machinery in Colombia, but with extra value-added services. It works exclusively with well-represented brands and provides functions that go beyond traditional leasing, such as maintenance, satellite monitoring, back-up capacity, insurance, and other facilities that are appreciated by customers and enhance operating margins. Rentandes was formed in 2000 and is based in Bogota, Colombia.

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Buyer(S) 1

DESCRIPTION

23 & Park is a private investment firm focused on acquiring small to mid-sized Columbian businesses. The Firm targets companies with revenues of $4 to $35 million and will consider businesses operating in a variety of sectors. 23 & Park was formed in 2015 and is headquartered in Bogota.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Colombia M&A 1 of 1
Year: 2019 M&A 1 of 1

Seller(S) 1

SELLER

The Abraaj Group

Dubai, United Arab Emirates

Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.


DEAL STATS #
Overall 28 of 31
Sector: Business Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 7 of 7
Country: Colombia M&A 2 of 2
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 Java House

Nairobi, Kenya

Java House owns and operates a chain of coffee houses. Java House operates commercial coffee roasteries, providing quality coffee and bean sales to its own stores and to supermarkets, hotels, restaurants and wholesale buyers. Java House was founded in 1999 and is based in Nairobi, Kenya.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-28 BigBasket

Bangalore, India

BigBasket is India's first comprehensive online grocery store. The Company's founding team has deep offline and online retail experience having pioneered e-commerce in India with India's first e-commerce site FabMart.com in 1999, and then setting up and running the Fabmall - Trinethra chain of supermarkets (now called "More"). The Company launched operations in Bangalore in December 2011. BigBasket offers a range of merchandise that can rival that of any physical store. The Company also provides a guarantee for on-time delivery, lowest prices, and great quality. BigBasket was formed in 2011 and is based in Bangalore, India.

Sell -