M&A Deal Summary

Apollo Global Management and ADIA Acquire Univar

On March 14, 2023, asset manager Apollo Global Management and sovereign wealth fund ADIA acquired distribution company Univar for 8.1B USD

Acquisition Highlights
  • This is Apollo Global Management’s 2nd and ADIA’s 1st transaction in the Distribution sector.
  • This is Apollo Global Management’s 5th and ADIA’s 2nd largest (disclosed) transaction.
  • This is Apollo Global Management’s 94th and ADIA’s 6th transaction in the United States.
  • This is Apollo Global Management’s 8th and ADIA’s 2nd transaction in Illinois.

M&A Deal Summary
Date 2023-03-14
Target Univar
Sector Distribution
Buyer(s) Apollo Global Management
ADIA
Deal Type Going Private
Deal Value 8.1B USD
Advisor(s) Goldman Sachs
Deutsche Bank Corporate & Investment Banking (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Univar

Downers Grove, Illinois, United States
Univar Solutions is a global chemical and ingredient distributor and a provider of value-added services to customers across a wide range of industries. Univar was founded in 1924 and is based in Downers Grove, Illinois.

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Buyer(S) 2

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 129 of 140
Sector (Distribution) 2 of 3
Type (Going Private) 28 of 31
State (Illinois) 8 of 8
Country (United States) 94 of 101
Year (2023) 2 of 8
Size (of disclosed) 5 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-16 Blume Global

Pleasanton, California, United States

Blume Global is a developer of software package connects asset owners and their users by hosting real time capacity from several major equipment programs spanning 120+ markets in North America. Blume Global was founded in 1994 and is based in Pleasanton, California.

Sell $414M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-04 Arconic

Pittsburgh, Pennsylvania, United States

Arconic is a manufacturer of aluminum sheet and plate products for the aerospace, automotive, commercial transportation, brazing and industrial markets. Arconic was founded in 1888 and is based in Pittsburgh, Pennsylvania.

Buy $5.2B
Buyer

ADIA

Category Sovereign Wealth Fund
Founded 1976
PE ASSETS 875.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 12 of 13
Sector (Distribution) 1 of 1
Type (Going Private) 2 of 3
State (Illinois) 2 of 2
Country (United States) 6 of 6
Year (2023) 1 of 2
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 Merchants Fleet

Hooksett, New Hampshire, United States

Merchants Fleet is a fleet management company, enabling the movement of people, goods, and services freely and responsibly. From flexible funding, fleet acquisition, and fleet management to vehicle remarketing, fleet consulting, fleet electrification, and the power of cloud-based fleet management platform TotalView, Merchants serves as a single source for all fleet and mobility needs across more than 20 unique industries. Merchants Fleet was founded in 1962 and is based in Hooksett, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-20 Dechra Pharmaceuticals

Northwich, United Kingdom

Dechra Pharmaceuticals is an international specialist in veterinary pharmaceuticals and related products business. Its expertise is in the development, manufacturing, sales, and marketing of quality products exclusively for veterinarians worldwide. The company's business is unique as the majority of its products are used to treat medical conditions for which there is no other effective solution or have a clinical or dosing advantage over competitor products. Dechra Pharmaceuticals was founded in 1997 and is based in Northwich, United Kingdom.

Buy £4.5B
Mergr

Product

Company

Legal