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M&A Deal Summary

Advent International Acquires Fat Face

On May 3, 2005, private equity firm Advent International acquired retailer Fat Face from Livingbridge for 110M GBP

Acquisition Highlights
  • This is Advent International’s 10th transaction in the Retail sector.
  • This is Advent International’s 37th largest (disclosed) transaction.
  • This is Advent International’s 19th transaction in the United Kingdom.
Investment Fate
  • Fat Face was sold to a consortium of financial buyers in 2007 for 360M GBP.
  • Fat Face was sold to a financial buyer in 2007 for 360M GBP.
  • Fat Face was sold to a consortium of financial buyers in 2020.
  • Fat Face was sold to a publicly-traded strategic buyer in 2023 for 100M GBP.

M&A Deal Summary
Date 2005-05-03
Target Fat Face
Sector Retail
Buyer(s) Advent International
Sellers(s) Livingbridge
Deal Type Secondary Buyout
Deal Value 110M GBP

Target

Fat Face

Havant, United Kingdom
Fat Face retails premium men's, women's and children's clothing and accessories, created by its own in-house design team. Fat Face was founded in 1988 and is based in Havant, United Kingdom.

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Buyer(S) 1

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 117 of 341
Sector (Retail) 10 of 20
Type (Secondary Buyout) 3 of 54
Country (United Kingdom) 19 of 36
Year (2005) 3 of 15
Size (of disclosed) 37 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-01 RedPrairie

Alpharetta, Georgia, United States

RedPrairie Corp. is a developer and marketer of software for managing warehousing and transportation logistics.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-10 Making Memories Wholesale

Centerville, Utah, United States

Making Memories manufactures craft and scrapbooking supplies. Its products include albums, embellishment papers, hard embellishments, kits, soft embellishments, stickers, publications, tools, collections, stamps, ribbons, paints, and organization and storage products. The company distributes its products through craft retailers, independent scrapbook and craft stores, and specialty retailers.

Buy -

Seller(S) 1

SELLER

Livingbridge

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 3.8B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Livingbridge is a UK-based investment group focused on investing in and growing mid-sized companies. The Firm targets businesses seeking £15 to £300 million of capital. Prospective companies should have 'ambitious mangement', scalable business models, and potential for market leadership. Sectors of interest include technology, media, communications, consumer products/services, healthcare, and education. Livingbridge was formed in 1995 and is based in London.

DEAL STATS #
Overall 9 of 101
Sector (Retail) 2 of 2
Type (Secondary Buyout) 2 of 44
Country (United Kingdom) 8 of 92
Year (2005) 1 of 4
Size (of disclosed) 4 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-22 Reach Holdings

Woking, Surrey, United Kingdom

A field marketing and contract sales business providing dedicated full-time sales support and merchandising teams to clients such as Nestle, Britvic and Vodafone.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-01 Boldon James

Farnborough, United Kingdom

Boldon James is a provider of software solutions for high-end secure messaging, primarily for military, government, and security customers. Its applications are commonly used for communicating highly confidential strategic and tactical information across multiple sites and geographical locations. Boldon James was formed in 1985 and is based in Farnborough, United Kingdom.

Buy £6M
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