M&A Deal Summary

Equistone, Indigo Capital and Ardian Acquire Alvest

On June 28, 2006, private equity firm Equistone, mezzanine finance firm Indigo Capital and private equity firm Ardian acquired aerospace company Alvest from The Indofin Group

Acquisition Highlights
  • This is Equistone’s 1st, Indigo Capital’s 1st and Ardian’s 2nd transaction in the Aerospace sector.
  • This is Equistone’s 39th, Indigo Capital’s 7th and Ardian’s 35th transaction in France.
Investment Fate
  • Alvest was sold to a consortium of financial buyers in 2013.
  • Alvest was sold to a consortium of financial buyers in 2015.
  • Alvest was sold to a consortium of financial buyers in 2017.

M&A Deal Summary
Date 2006-06-28
Target Alvest
Sector Aerospace
Buyer(s) Equistone
Indigo Capital
Ardian
Sellers(s) The Indofin Group
Deal Type Secondary Buyout

Target

Alvest

Paris, France
Alvest is a group dedicated to the design, manufacture, and distribution of technical products for the aviation industry, which include aviation ground support equipment, spare parts and services, and technical adhesives and markings for the aerospace and industrial markets. Alvest is based in Paris, France.

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Buyer(S) 3

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 114 of 254
Sector (Aerospace) 1 of 2
Type (Secondary Buyout) 15 of 86
Country (France) 39 of 74
Year (2006) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 La Croissanterie

Clichy, France

La Croissanterie is a sandwich,sweet pastry restaurant chain and has 161 restaurants, two-thirds of which it directly manages. La Croissanterie was founded in 1977 and is based in Clichy, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-01 Interflora

Lyon, France

Interflora is a flower and gift digital platform that operates a portfolio of complementary gifting brands including Interflora, the iconic European flower and gift brand in France, Denmark, Italy, Spain, Portugal, Luxembourg, Iceland, and Romania. MyFlower is the holding company of the Interflora France group operating the Interflora brand, a leader in floral transmission in Europe, which also owns the online pure-player “Bebloom”, as well as “Renaud Distribution”, a leader in distributing supplies to florists, and cadeaux.com, the leader in online distribution of personalized gifts. Interflora was formed in 1991 and is based in Lyon, France.

Sell £66M
Buyer

Indigo Capital

London, United Kingdom
Category Mezzanine Finance Firm
Founded 1990
PE ASSETS 1.6B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Indigo Capital is a provider of mezzanine capital to help fund buyouts, corporate acquisitions, expansions, and recapitalizations. Indigo typically invests alongside other private equity firms, however the Firm invests independently as well. Indigo is active throughout Europe and looks to commit €10 to €100 million per transaction. Indigo is sector agnostic and generally backs businesses with 'established market positions, strong, ambitious and incentivized management and attractive growth prospects.' Indigo Capital raised its first fund in 1990. The Firm has offices in London and Paris.

DEAL STATS #
Overall 23 of 46
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 4 of 12
Country (France) 7 of 16
Year (2006) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-01 Nextiraone Mexico S.A. de C.V.

Mexico

Nextiraone Mexico S.A. de C.V. provides planning, implementation, support and management services of voice, data and converged communications networks in Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-30 ASCO

Aberdeen, United Kingdom

ASCO is a provider of outsourced logistics services and solutions to the oil and gas industry. ASCO was founded in 1967 and is based in Aberdeen, Scotland.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 54 of 418
Sector (Aerospace) 2 of 5
Type (Secondary Buyout) 13 of 137
Country (France) 35 of 185
Year (2006) 17 of 36
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-22 Puukeskus Oy

Helsinki, Finland

Puukeskus Oy is a market leader in the distribution of wood-based building materials in Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-05 Medica France SA

Issy-les-Moulineaux, France

Medica France SA is a operator of nursing, psychiatric and post-operative care homes in France and Italy.

Buy €750M

Seller(S) 1

SELLER

The Indofin Group

Rotterdam, Netherlands
Category Family Office
Founded 1968
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

The Indofin Group is a global investment group focused on opportunities across Europe, North America, and Asia. The Indofin Group looks to invest in sectors such as shipping and shipbuilding, energy services, technology and media, natural resources and real estate. The Infofin Group was formed in 1968 and is based in Rotterdam, the Netherlands.

DEAL STATS #
Overall 2 of 4
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (France) 1 of 1
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-01 Royal IHC

Kinderdijk, Netherlands

Royal IHC is a supplier of maritime technology and expert craftsmanship. Driven by innovation, Royal IHC with dedicated experts provide customers worldwide with a competitive edge in the dredging, offshore, mining and defence industries. Royal IHC was founded in 1642 and is based in Kinderdijk, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Technische Handelsmaatschappij Marchand-Andriessen N.V.

Netherlands

Technische Handelsmaatschappij Marchand is an operator of Scheepswerf Maasbracht, a shipyard providing repair services to inland shipping companies.

Buy -
Mergr

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