M&A Deal Summary

Ardian, Equistone, NiXEN Partners and ICG Acquire Gerflor

On November 22, 2006, private equity firm Ardian, private equity firm Equistone, private equity firm NiXEN Partners and mezzanine finance firm ICG acquired building materials company Gerflor

Acquisition Highlights
  • This is Ardian’s 11th, Equistone’s 2nd, NiXEN Partners’ 1st and ICG’s 6th transaction in the Building Materials sector.
  • This is Ardian’s 44th, Equistone’s 39th, NiXEN Partners’ 12th and ICG’s 46th transaction in France.
Investment Fate
  • Gerflor was sold to a consortium of financial buyers in 2011.
  • Gerflor was sold to a consortium of financial buyers in 2020.

M&A Deal Summary

Date 2006-11-22
Target Gerflor
Sector Building Materials
Buyer(s) Ardian
Equistone
NiXEN Partners
ICG
Deal Type Buyout (LBO, MBO, MBI)

Target

Gerflor

Lyon, France
Gerflor designs, manufactures and markets innovative, decorative, eco-responsible and complete solutions for resilient floors, wall coverings and accessibility, from installation to finish for professionals and individuals. Gerflor was founded in 1937 and is based in Lyon, France.

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Buyer(S) 4

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 72 of 465
Sector: Building Materials M&A 11 of 16
Type: Buyout (LBO, MBO, MBI) M&A Deals 37 of 124
Country: France M&A 44 of 207
Year: 2006 M&A 35 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-21 Spirit AeroSystems

Wichita, Kansas, United States

Spirit AeroSystems is an independent provider of large component parts and assemblies for commercial aircraft. Spirit AeroSystems offers manufacturing and design expertise on a broad range of products and services for aircraft original equipment manufacturers. Spirit AeroSystems was founded in 1927 and is based in Wichita, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-28 CABB

Sulzbach am Taunus, Germany

CABB is a vertically integrated global supplier of fine and specialty chemicals and customer manufacturing solutions for the agrochemicals, pharmaceuticals, personal care, and food markets. CABB was founded in 2003 and is based in Sulzbach am Taunus, Germany.

Buy -
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, United Kingdom.


DEAL STATS #
Overall 118 of 252
Sector: Building Materials M&A 2 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 88 of 131
Country: France M&A 39 of 72
Year: 2006 M&A 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-10 ETIMEX

Dietenheim, Germany

Etimex comprises two business divisions: Primary Packaging and Technical Components, which produce plastic films, packaging and components.

Sell €142M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-24 Albingia

Levallois-Perret, France

Albingia is a niche insurance company. Albingia was founded in 1962 and is based in Levallois-Perret, France.

Sell -
Buyer

NiXEN Partners

Paris, France

Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

NiXEN is a French private equity group that targets investments in middle-market companies valued between €30 and €300 million. iXEN looks to invest €20 to €25 million of equity capital to support management buyouts/buy-ins, leveraged build-ups, owner buy-outs (OBOs), and public to private deals. The Firm is a 'hands-on' investment group and will consider opportunities in a variety of sectors, including manufacturing, consumer goods, specialist retailing, restaurants, and services. iXEN is supported by Natixis Private Equity and was formerly known as Natexis Industrie. The Firm was formed in 1998 and is based in Paris.


DEAL STATS #
Overall 12 of 30
Sector: Building Materials M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 14
Country: France M&A 12 of 29
Year: 2006 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-09 Saverglass SAS

Feuquières, France

Saverglass SAS is a designer and manufacturer of high quality glass bottles for spirits and fine wines and, marginally, for the perfume sector.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-06 Saur

Issy-les-Moulineaux, France

Saur is a drinking and wastewater management company focused on small/mid-sized cities across France. The company is also active internationally, particularly in Iberia, Saudi Arabia, and Poland. Saur was founded in 1933 and is based in Issy-les-Moulineaux, France.

Sell €2.3B
Buyer

ICG

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 33.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 169 of 294
Sector: Building Materials M&A 6 of 12
Type: Buyout (LBO, MBO, MBI) M&A Deals 93 of 112
Country: France M&A 46 of 72
Year: 2006 M&A 20 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-02 easycash

Ratingen, Germany

easycash is the German point of sale (POS) Network Service Provider. easycash offers customised card-based payment solutions and credit card routing to a broad range of merchant customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-24 Albingia

Levallois-Perret, France

Albingia is a niche insurance company. Albingia was founded in 1962 and is based in Levallois-Perret, France.

Buy -