M&A Deal Summary

Ardian and Cerea Partners Acquire Cerelia

On December 19, 2019, private equity firms Ardian and Cerea Partners acquired food company Cerelia from IK Partners

Acquisition Highlights
  • This is Ardian’s 13th and Cerea Partners’ 22nd transaction in the Food sector.
  • This is Ardian’s 166th and Cerea Partners’ 38th transaction in France.

M&A Deal Summary

Date 2019-12-19
Target Cerelia
Sector Food
Buyer(s) Ardian
Cerea Partners
Sellers(s) IK Partners
Deal Type Secondary Buyout

Target

Cerelia

Paris, France
Cerelia is a provider of innovative bakery solutions with a product portfolio including ready-to-bake pie and pizza dough, pancakes, crepes, and cookies. Cerelia was founded in 1999 and is based in Paris, France.

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Buyer(S) 2

Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B 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 €1 billion 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 367 of 464
Sector: Food M&A 13 of 16
Type: Secondary Buyout M&A Deals 116 of 155
Country: France M&A 166 of 206
Year: 2019 M&A 32 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-16 Audiotonix

Chessington, United Kingdom

Audiotonix designs, engineerings, and manufactures professional audio mixing consoles, production software, and ancillary products. With pioneering solutions from premium audio brands Allen & Heath, Calrec, DiGiCo, DiGiGrid, Fourier Audio, Harrison, KLANG: technologies, Slate Digital, Solid State Logic, sonible, and Sound Devices, its products are used extensively in live sound, broadcast, theatre production, installations, houses of worship, TV and film production, music creation and recording studios. Audiotonix is based in Chessington, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Custom Solutions

France

Custom Solutions specialized in sales promotion and e-logistics. The company's historical core business line is the management of promotional marketing for mass-market brands: payback, deferred bonuses and shops, quizzes and multimedia games. Custom Solutions also provides outsourcing services for POS-A (point of sale advertising) logistics and e-logistics.

Sell -
Buyer

Cerea Partners

Neuilly sur Seine, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

Cerea Partners is a specialist investment firm focused on investing in and providing finance to agriculture and related sustainable food businesses. Cerea primarily targets companies in Western Europe and looks to invest in companies valued between €20 and €500 million. Prospective transaction situations includes LBOs, LBIs, OBOs, and spin-offs. Cerea Partners was formed in 2004 and is based in Paris, France.


DEAL STATS #
Overall 48 of 73
Sector: Food M&A 22 of 27
Type: Secondary Buyout M&A Deals 18 of 22
Country: France M&A 38 of 59
Year: 2019 M&A 8 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-22 Biscuit International

Paris, France

Biscuit International is a European manufacturer of private-label sweet biscuits, including traditional, as well as organic, low-sugar and eco-friendly products. Biscuit International is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-28 Pages Group

Foncine-le-Haut, France

Pages Group designs and manufactures automated productivity solutions for the packaging and medical sectors. Pages Group was founded in 1984 and is based in Foncine-le-Haut, France.

Buy -

Seller(S) 1

SELLER

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

IK Partners is a private equity firm that targets control investments in lower middle-market to large-sized companies throughout Europe. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The Firm looks to commit €10 to €300 million of equity capital per transaction and targets companies with strong cash-flows. IK Investment Partners was formerly known as Industry Kapital. IK Partners was formed in 1989 and is based in London, England.


DEAL STATS #
Overall 85 of 122
Sector: Food M&A 8 of 11
Type: Secondary Buyout M&A Deals 32 of 51
Country: France M&A 14 of 27
Year: 2019 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-03 Ondal Group

Hunfeld, Germany

Ondal Group is a developer and manufacturer of medical pendant systems that facilitate movement, support loads and supply medical equipment with light, gas or data. Ondal sets the global quality standard for medical pendant systems in terms of reliability, functionality, and usability. Products manufactured by Ondal are internationally certified in various regulated markets, ensuring compliance with the highest quality standards. Ondal Group was founded in 1945 and is based in Hunfeld, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-23 MDT technologies

Engelskirchen, Germany

MDT technologies is a manufacturer of smart building components, enabling the automation and control of multiple functions including heating, ventilation, and lighting in both residential and commercial buildings. MDT offers a full range of innovative KNX components distributed mainly through electrical wholesalers in Germany. MDT technologies was founded in 2009 and is based in Engelskirchen, Germany.

Buy -