M&A Deal Summary

Apax, The Blackstone Group and Archer Capital Acquire SULO Group

On January 22, 2004, private equity firms Apax, The Blackstone Group and Archer Capital acquired environmental company SULO Group for 590M USD

Acquisition Highlights
  • This is Apax’s 1st, The Blackstone Group’s 2nd and Archer Capital’s 1st transaction in the Environmental sector.
  • This is Apax’s 35th, The Blackstone Group’s 122nd and Archer Capital’s largest (disclosed) transaction.
  • This is Apax’s 1st, The Blackstone Group’s 1st and Archer Capital’s 8th transaction in Australia.
Investment Fate
  • SULO Group was sold to a strategic buyer in 2007 for 1.5B EUR.

M&A Deal Summary

Date 2004-01-22
Target SULO Group
Sector Environmental
Buyer(s) Apax
The Blackstone Group
Archer Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 590M USD

Target

SULO Group

Australia
SULO was the second largest waste collection service provider in Germany.

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Buyer(S) 3

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 51 of 262
Sector (Environmental) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 19 of 62
Country (Australia) 1 of 2
Year (2004) 6 of 27
Size (of disclosed) 35 of 54
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-12 RealPage

Richardson, Texas, United States

RealPage is a provider of comprehensive property management software solutions for the multifamily, commercial, single-family and vacation rental housing industries. RealPage was founded in 1998 and is based in Richardson, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-8 Novacea

San Francisco, California, United States

Novacea, Inc., a biopharmaceutical company, focuses on in-licensing, developing, and commercializing therapies for the treatment of cancer.

Buy -
Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 67 of 336
Sector (Environmental) 2 of 5
Type (Buyout (LBO, MBO, MBI)) 25 of 76
Country (Australia) 1 of 7
Year (2004) 1 of 13
Size (of disclosed) 122 of 172
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Imperial Home Decor Group

Cleveland, Ohio, United States

Imperial Home Décor manufactured residential wall coverings.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-02-09 ZF TRW Automotive Holdings

Livonia, Michigan, United States

ZF TRW Automotive is a supplier of automotive systems, modules and components. The company focuses on safety-related products and its business lines are braking and steering, occupant safety systems, and engine valves, fasteners, and body control systems. ZF TRW Automotive is based in Livonia, Michigan.

Sell -
Buyer

Archer Capital

Dawes Point, Australia

Category Private Equity Firm
Founded 1997
PE ASSETS 2.5B AUD
Size Large
Type Sector Agnostic
DESCRIPTION

Archer Capital is an independent private equity firm that targets buyout opportunities in Australia and New Zealand. Archer looks for growth companies with strong market positions. Archer prefers majority investment positions. The Firm will not invest in real estate or businesses with unproven technology. Archer Capital was formed in 1997 and is based in Dawes Point, Australia.


DEAL STATS #
Overall 10 of 39
Sector (Environmental) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 5 of 23
Country (Australia) 8 of 32
Year (2004) 1 of 3
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-01 Dome Coffees Australia

Maylands, Australia

Dome Coffees Australia is a specialty coffee group with operations in coffee roasting and wholesaling, cafe franchising and cafe ownership. Dome Cafe outlets are designed to create an ambience sympathetic to the classic European coffee culture, with an emphasis on serving fine coffee under the Dome brand. Dome Coffees Australia was founded in 1983 and is based in Maylands, Australia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-01 Ascendia Retail

Regents Park, Australia

Ascendia Retail is Australia’s leading sporting goods retailer, with a store network of over 150 retail outlets operating under the Rebel Sport, Amart All Sports and Glue brands.

Buy -