M&A Deal Summary

Abénex, Alpha Group, Equistone and Intermediate Capital Group Acquire Retif Group

On March 1, 2002, private equity firm Abénex, private equity firm Alpha Group, private equity firm Equistone and mezzanine finance firm Intermediate Capital Group acquired retailer Retif Group for 213M EUR

Acquisition Highlights
  • This is Abénex’s 1st, Alpha Group’s 3rd, Equistone’s 3rd and Intermediate Capital Group’s 5th transaction in the Retail sector.
  • This is Abénex’s , Alpha Group’s 20th, Equistone’s 9th and Intermediate Capital Group’s 59th largest (disclosed) transaction.
  • This is Abénex’s 1st, Alpha Group’s 17th, Equistone’s 19th and Intermediate Capital Group’s 22nd transaction in France.
Investment Fate
  • Retif Group was sold to a consortium of financial buyers in 2007.

M&A Deal Summary

Date 2002-03-01
Target Retif Group
Sector Retail
Buyer(s) Abénex
Alpha Group
Equistone
Intermediate Capital Group
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 213M EUR

Target

Retif Group

Villeneuve-Loubet, France
Retif Group is a retailer of furniture, lighting, signage, labeling, security equipment, displays, stacking solutions, packing, disposable items, and maintenance products. Retif Group was established in 1968 and is based in Villeneuve-Loubet, France.

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Buyer(S) 4

Buyer

Abénex

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 1.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Abénex Capital SA is a French private equity firm focuses on acquiring mid-market companies throughout France. The Firm seeks to hold both majority and minority equity interest in companies along with the management teams. Specific areas of interest include consumer productsinterests, business services, industry and healthcare sector. The Firm will consider variety of transaction includes MBOs, MBIs, and LBO. Abénex, Capital SA was formerly known as ABN Amro Capital France and became independent of ABN Amro in 2008. Abénex Capital SA is based in Paris.


DEAL STATS #
Overall 1 of 46
Sector (Retail) 1 of 2
Type (Buyout (LBO, MBO, MBI)) 1 of 27
Country (France) 1 of 43
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Altair

Wasquehal, France

Altair is a manufacturer and distributor of cleaning and home care products and household insecticides sold mainly through specialized channels. Altair was founded in 1946 and is based in Wasquehal, France.

Buy -
Buyer

Alpha Group

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Alpha Group is a European private equity firm specializing in LBOs and development capital investments. The Firm seeks to invest in companies throughout Europe, including Germany, Switzerland, Italy, France, and Benelux as well as some eastern European countries. The Firm seeks to commit €50 to €125 million in companies valued between €100 and €500 million. Alpha typically takes majority control and arranges for founders or key managers to co-invest. Sectors of interest include Consumer & Leisure, Fashion & Design, Industrial Manufacturing and Service & Distibution. Alpha Group was formed in 1985 and is based in Paris.


DEAL STATS #
Overall 33 of 78
Sector (Retail) 3 of 8
Type (Buyout (LBO, MBO, MBI)) 33 of 56
Country (France) 17 of 36
Year (2002) 1 of 2
Size (of disclosed) 20 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-01 Actaris Metering Systems SA

Luxembourg,, Luxembourg

Actaris Metering Systems SA engages in the design and manufacture of meters and associated systems for the electricity, gas, water and heat markets.Company innovative products and systems integrate the latest technologies to meet the evolving needs of public or private energy and water suppliers, utility services and industrial companies.

Buy €745M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-01 Basler Fashion

Goldbach, Germany

Basler Fashion GmbH manufactures and markets apparel for women

Buy €157M
Buyer

Equistone

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, England.


DEAL STATS #
Overall 62 of 253
Sector (Retail) 3 of 14
Type (Buyout (LBO, MBO, MBI)) 52 of 131
Country (France) 19 of 74
Year (2002) 3 of 9
Size (of disclosed) 9 of 55
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-11 Salter Housewares

Tonbridge, United Kingdom

Salter is the leading brand in the UK consumer scale market and also occupies strong positions in a number of key international markets.

Buy €28M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-12 The Doctors Healthcare

United Kingdom

The Doctors Healthcare Co. is an independent provider of medical diagnostic services.

Sell €105M
Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 79 of 292
Sector (Retail) 5 of 11
Type (Buyout (LBO, MBO, MBI)) 59 of 112
Country (France) 22 of 72
Year (2002) 4 of 15
Size (of disclosed) 59 of 82
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-02-25 Eliokem International SAS

Villejust, France

Eliokem International SAS is a manufacturer and marketer of speciality chemicals used in paints, masonry coatings, rubber, plastic, printer toners, textiles and latex.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-26 Le Figaro SA

Paris, France

Le Figaro publishes french national daily newspaper as well as the leading women’s magazine and the second most circulated news magazine.

Sell -