M&A Deal Summary

ABB Acquires Entrelec SA

On April 9, 2001, ABB acquired electrical equipment company Entrelec SA from Cobalt Capital SAS, CVC Capital Partners and Intermediate Capital Group

Acquisition Highlights
  • This is ABB’s 2nd transaction in the Electrical Equipment sector.
  • This is ABB’s 1st transaction in France.

M&A Deal Summary

Date 2001-04-09
Target Entrelec SA
Sector Electrical Equipment
Buyer(s) ABB
Sellers(s) Cobalt Capital SAS
CVC Capital Partners
Intermediate Capital Group
Deal Type Add-on Acquisition

Target

Entrelec SA

France
Entrelec manufactures and distributes low tension electrical connecting devices for industrial uses in sectors such as utilities, transport, automotive, and chemistry. Entrelec is the leading French operator and ranks 3 worldwide. Management improved productivity through a systematic outsourcing policy. Entrelec was ultimately taken over by the ABB Group in 2001.

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Buyer(S) 1

Buyer

ABB

Zurich, Switzerland

Category Company
Founded 1883
Sector Engineering
Employees109,930
Revenue 32.9B USD (2024)
DESCRIPTION
Entrance to ABB's headquarters in Zurich, Switzerland.
Entrance to ABB's headquarters in Zurich, Switzerland.

ABB is an engineering company that helps customers use electrical power effectively and increase industrial productivity in a sustainable way. ABB creates and supports a range of products, systems and services that increase energy efficiency, reliability and productivity for a variety of industrial, utility, and transport and infrastructure customers. ABB was founded in 1883 and is based in Zurich, Switzerland.


DEAL STATS #
Overall 4 of 39
Sector: Electrical Equipment M&A 2 of 13
Type: Add-on Acquisition M&A Deals 4 of 36
Country: France M&A 1 of 2
Year: 2001 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-17 Energy Interactive

Oakland, California, United States

Energy Interactive, Inc. is a provider of information software and services to the U.S. energy market. Energy Interactive’s products include energy billing systems, Web-based residential energy auditing, and software to analyze energy loads, consumption patterns and pricing.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-12-10 ABB - Air Handling Equipment Business

Zurich, Switzerland

ABB - Air Handling Equipment Business is a provider of air handling equipment services.

Sell $225M

Seller(S) 3

SELLER

Cobalt Capital SAS

Paris, France

Category Private Equity Firm
Founded 2004
PE ASSETS 150M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

Cobalt Capital SAS is a private equity firm specializing in middle market Leverage buyouts in France. The Firm invests €7 - €30 million of equity per transaction and in conjunction with co-investors can invest up to larger transactions. Prospective businesses typically generate revenues of between €20 - €300 million. It prefers to be the lead investor and take controlling position in its portfolio companies. Specific areas of interest include leisure, consumer goods, business services and general industrials. Cobalt Capital SAS was a spun out of Legal and General Ventures (LGV) and became independent in 2004. Cobalt Capital SAS is based in Paris.


DEAL STATS #
Overall 3 of 11
Sector: Electrical Equipment M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 1
Country: France M&A 3 of 10
Year: 2001 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-01 MGE UPS Systems SA

Saint Ismier, France

GE designs, manufactures and sells Uninterruptible Power Supply (UPS) systems. It is the third largest player worldwide, with a presence in more than 100 countries. It serves global clients in sectors such as banking, airport infrastructures, hospitals and telecom operators. In spite of a severe downturn in demand from ISP/Telecom operators in 2001.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-07-01 idverde

Luxembourg, Luxembourg

Idverde specializes in the creation and maintenance of green spaces, providing services for municipalities and private clients. idverde is based in Luxembourg, Luxembourg.

Sell kr.7M
SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 16 of 181
Sector: Electrical Equipment M&A 1 of 2
Type: Add-on Acquisition M&A Deals 5 of 69
Country: France M&A 1 of 10
Year: 2001 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Zena Group

Aravaca, Spain

Zena Group is a casual dining and fast-food restaurant group, composed of a mix of owned brands such as Foster's Hollywood, Canas y Tapas, Il Tempietto, Nostrus, La Vaca Argentina (a recently acquired leading chain in the Steak House segment) and franchises, including Burger King, Pizza Hut and Kentucky Fried Chicken. Zena Group is based in Aravaca, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-18 Impulse Airlines

Mascot, Australia

Impulse was established in 1992 and operated a network of regional routes throughout New South Wales. The network initially included routes to Armidale, Brisbane, Canberra, Melbourne, Sydney and Tamworth.

Sell -
SELLER

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 20 of 225
Sector: Electrical Equipment M&A 1 of 8
Type: Add-on Acquisition M&A Deals 4 of 69
Country: France M&A 5 of 59
Year: 2001 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-01 Picard

Fontainebleau, France

Picard is a frozen food retailer in France, with a product range that covers over 1,100 SKUS across nine product categories, from starters to desserts and from raw ingredients to prepared meals. Picard was founded in 1906 and is based in Fontainebleau, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-11 Environmental Resources Management

London, United Kingdom

Environmental Resources Management is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management was founded in 1871 and is based in London, United Kingdom.

Buy $285M