M&A Deal Summary

Ardian and Intermediate Capital Group Acquire Souriau-Sunbank Connection Technologies

On April 30, 2003, private equity firm Ardian and mezzanine finance firm Intermediate Capital Group acquired electrical equipment company Souriau-Sunbank Connection Technologies

Acquisition Highlights
  • This is Ardian’s 2nd and Intermediate Capital Group’s 5th transaction in the Electrical Equipment sector.
  • This is Ardian’s 8th and Intermediate Capital Group’s 23rd transaction in France.
  • This is Ardian’s 1st and Intermediate Capital Group’s 1st transaction in Pennsylvania.
Investment Fate
  • Souriau-Sunbank Connection Technologies was sold to a consortium of financial buyers in 2005 for 483M EUR.
  • Souriau-Sunbank Connection Technologies was sold to a financial buyer in 2011.
  • Souriau-Sunbank Connection Technologies was sold to a consortium of buyers in 2011 for 705M USD.
  • Souriau-Sunbank Connection Technologies was divested to a consortium of strategic buyers in 2019 for 920M USD.

M&A Deal Summary

Date 2003-04-30
Target Souriau-Sunbank Connection Technologies
Sector Electrical Equipment
Buyer(s) Ardian
Intermediate Capital Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Souriau-Sunbank Connection Technologies

Versailles, Pennsylvania, France
Souriau SAS is a provider in connector solutions for industrial, military aeronautics and aerospace applications. The company makes a wide range of interconnection systems for severe environments (high pressure, extreme temperature, marine environments, exposure to electromagnetic or nuclear radiation, etc.)

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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 10 of 464
Sector: Electrical Equipment M&A 2 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 123
State: Pennsylvania M&A 1 of 7
Country: France M&A 8 of 206
Year: 2003 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-08 iliad

Paris, France

iliad provides retail communication services. Iliad was founded in 1999 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 Linedata Services

Neuilly-sur-seine, France

Linedata Services provides software solutions for the investment management and the credit community in France and internationally. Its solutions for alternative and institutional investment clients include Linedata Lynx, an electronic trading solution; Linedata Compliance, a solution for ensuring pre and post-trade compliance; Linedata Reporting, a tool to manage internal and external reporting; Linedata Longview that provides real-time insights to institutional asset managers; and solutions for back-office, such as fund accounting, partnership accounting, and shareholder accounting. Linedata Services was founded in 1998 and is based in Neuilly-sur-seine, France.

Sell -
Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B 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 94 of 294
Sector: Electrical Equipment M&A 5 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 68 of 112
State: Pennsylvania M&A 1 of 2
Country: France M&A 23 of 72
Year: 2003 M&A 4 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-07 Sericol

Kansas City, Kansas, United States

Sericol, Inc. is a global ink manufacturer and supplier focused on screen inks and related products.

Buy £75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-20 Clydesdale Financial Services

United Kingdom

Clydesdale Financial Services is the consumer credit business.Financial Services has grown to become a key provider of store cards and interest free credit products to a number of retail clients including Scottish Hydro, Karen Millen and Focus DIY.

Sell €86M