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M&A Deal Summary

Arle Capital Partners, Electra and Epiris Acquire Innovia

On April 28, 2014, private equity firms Arle Capital Partners, Electra and Epiris acquired packaging company Innovia from Candover Investments for 498M EUR

Acquisition Highlights
  • This is Arle Capital Partners’ 1st, Electra’s 1st and Epiris’ 2nd transaction in the Packaging sector.
  • This is Arle Capital Partners’ 7th, Electra’s 5th and Epiris’ 5th largest (disclosed) transaction.
  • This is Arle Capital Partners’ 4th, Electra’s 27th and Epiris’ 40th transaction in the United Kingdom.
Investment Fate
  • Innovia was sold to a publicly-traded strategic buyer in 2016 for 1.1B USD.

M&A Deal Summary
Date 2014-04-28
Target Innovia
Sector Packaging
Buyer(s) Arle Capital Partners
Electra
Epiris
Sellers(s) Candover Investments
Deal Type Secondary Buyout
Deal Value 498M EUR
Advisor(s) Jamieson Corporate Finance (Financial)

Target

Innovia

Cumbria, United Kingdom
Innovia makes high-tech transparent and coated films for packaging and labels. Its bi-orientated polypropylene (BOPP) films are extruded from oil through a unique 'bubble’ technology. It is also the only scale manufacturer of cellulose film made from wood pulp (Cello) outside Japan.

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Buyer(S) 3

Buyer

Arle Capital Partners

London, United Kingdom
Category Private Equity Firm
Founded 2011
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Arle Capital Partners Ltd. Is a private equity partnership firm focuses on acquiring business located in the UK, Scandinavia, and Western Europe. The Firm targets companies operating in the fields of energy, natural resources, industrial, and business services. It seeks to invest in companies with an enterprise value of up to €1 billion. Arle Capital spun-out of Candover Investments in 2011 and currently manages all of Candover's investment interests. The Firm is based in London.

DEAL STATS #
Overall 17 of 17
Sector: Packaging M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 6
Country: United Kingdom M&A 4 of 4
Year: 2014 M&A 1 of 1
Size (of disclosed) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-27 DX Group

Datchet, United Kingdom

DX Group provides parcel, freight, secure courier, and logistics services in the United Kingdom and Ireland. The company operates through two segments, DX Freight and DX Express. DX Group was founded in 1975 and is based in Datchet, the United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-28 Fokker Technologies Group B.V.

Papendrecht, Netherlands

Fokker Technologies Group B.V. is a global aerospace specialist that develops and manufactures highly engineered advanced aircraft systems and components for aircraft manufacturers and provides integrated maintenance services and products for aircraft owners and operators. The company was founded in 1919. Headquartered in Papendrecht, the Netherlands, Fokker operates facilities in the Netherlands, Romania, Turkey, Canada, Mexico, USA, China, India and Singapore, and employs approximately 4,900 people.

Sell €706M
Buyer

Electra

London, United Kingdom

Investor

Category Private Equity Firm
PE ASSETS 800M GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Electra is an investment trust quoted on the London Stock Exchange that specializes in private equity investments. Electra's primary focus is on opportunities across Western Europe in a broad array of industries. Electra Private Equity is based in London.

DEAL STATS #
Overall 36 of 36
Sector: Packaging M&A 1 of 1
Type: Secondary Buyout M&A Deals 11 of 11
Country: United Kingdom M&A 27 of 27
Year: 2014 M&A 3 of 3
Size (of disclosed) 5 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-03 Elian Group

Jersey, Channel Islands

Elian Group provides trust, fund and company administration services to multi-national corporations, financial institutions, high net worth individuals, family offices and fund managers. Elian Group was founded in 1999 and is based in Jersey, Channel Islands.

Buy £180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Allen & Heath

Cornwall, United Kingdom

Allen & Heath is a designer and manufacturer of professional audio mixing equipment. It has a niche market position and a strong track record in developing innovative products. Its core products are mixing consoles for live sound venues, professional DJ mixers and sound controllers for building installations. Allen & Heath was founded in 1969 and is based in Cornwall, United Kingdom.

Sell -
Buyer

Epiris

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 1.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Electra Partners is a UK-based private equity firm focused on buyouts, co-investments, secondary fund purchases, and debt investing. The Firm's direct investing group looks to make majority or minority investments of £50 to £250 million in deals valued up to £500 million. Electra was formed in 1976 and is based in London.

DEAL STATS #
Overall 52 of 73
Sector: Packaging M&A 2 of 2
Type: Secondary Buyout M&A Deals 10 of 17
Country: United Kingdom M&A 40 of 61
Year: 2014 M&A 3 of 5
Size (of disclosed) 5 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-11 Locatel France SAS

Nanterre, France

Locatel France SAS originally created as a national and basic TV rental company, Locatel has successfully changed its business model to become the leading European provider in interactive TV solutions for the hotel and healthcare sectors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Unipart Group of Companies

Oxford, United Kingdom

The Unipart Group of Companies (UGC) is one of Europe's independent logistics, automotive parts and accessories companies.

Sell -

Seller(S) 1

SELLER

Candover Investments

London, United Kingdom
Category Private Equity Firm
Founded 1980
PE ASSETS 8.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Candover Investments is a private equity firm that targets investments in European and Asian companies operating in broad range of industries. Candover's primary focus is on businesses located in Western Europe; including the UK, France, Germany, Italy, Scandinavia, and Spain. However, the Firm also considers opportunities in Asia and Eastern Europe. The Firm's target investment size is €150 to €500 million in businesses valued between €500 million and €5 billion. Sectors of interest include media, financial services, support services, leisure, healthcare, technology, and industrial. Candover Investments was formed in 1980 and is based in London.

DEAL STATS #
Overall 24 of 26
Sector: Packaging M&A 2 of 2
Type: Secondary Buyout M&A Deals 12 of 12
Country: United Kingdom M&A 9 of 9
Year: 2014 M&A 3 of 3
Size (of disclosed) 11 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-17 Grupo Corporativo ONO S.A.

Madrid, Spain

Grupo Corporativo ONO S.A. is a broadband service provider. It offers direct access telephony, pay television and internet access services to the residential market where, ONO offers advanced voice, data and value-added services across its own high capacity local access and national backbone networks.

Sell €7.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-07 Stork Technical Services Holding B.V.

Utrecht, Netherlands

Stork Technical Services Holding B.V. is a provider of maintenance, modification and asset integrity services associated with large existing industrial facilities in the oil and gas, chemicals, petrochemicals, industrial and power markets.

Sell €695M
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