M&A Deal Summary

Ascend Capital Partners, HIWING Group of CASIC and SAIC Motor Acquire IEE SA

On August 3, 2013, merchant bank Ascend Capital Partners, HIWING Group of CASIC and SAIC Motor acquired electronics company IEE SA from Apax, Hutton Collins Partners and BIP Investment Partners

Acquisition Highlights
  • This is Ascend Capital Partners’ 1st, HIWING Group of CASIC’s 1st and SAIC Motor’s 1st transaction in the Electronics sector.
  • This is Ascend Capital Partners’ 1st, HIWING Group of CASIC’s 1st and SAIC Motor’s 1st transaction in Luxembourg.

M&A Deal Summary
Date 2013-08-03
Target IEE SA
Sector Electronics
Buyer(s) Ascend Capital Partners
HIWING Group of CASIC
SAIC Motor
Sellers(s) Apax
Hutton Collins Partners
BIP Investment Partners
Deal Type Add-on Acquisition

Target

IEE SA

Luxembourg, Luxembourg
IEE (International Electronics & Engineering) is a pioneering company in the development of sensors based electronic and safety systems.

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Buyer(S) 3

Buyer

Ascend Capital Partners

Investor Investor

Category Merchant Bank
Founded 1999
Size Small
Type Sector Agnostic
DESCRIPTION

Ascent Capital Partners is a financial advisory firm and private equity investor focused on opportunities in China. Ascend Capital Partners was formed in 1999 and is based in Beijing.

DEAL STATS #
Overall 13 of 14
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Luxembourg) 1 of 1
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-01 Galaxy Technology

GuangZhou, China

Galaxy Technology is one of the pioneer game developers focusing on mobile online game area. Galaxy Technology has introduced to the market several online mobile games, Journey to the West Online (Kjava), Dream Back to Journey to the West( Web/Kjava), Space Hunter(Android/iOS), etc, all highly praised by users and peers

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Adjuvant.Health

Melville, New York, United States

Adjuvant.Health is a pediatrician-led innovator in providing best-in-breed medical practice office administrative support, technology, marketing, vulnerability protection and profitability enhancement services. Adjuvant.Health was founded in 2018 and is based in Melville, New York.

Buy -
Buyer

HIWING Group of CASIC

Beijing, China
Category Company
Sector Manufacturing
DESCRIPTION

HIWING Group of CASIC Co., Ltd is a comprehensive hi-tech company integrating R&D, manufacturing, investment and financing. Its seven core businesses include electrical engineering, petroleum and geological equipment, IT and photoelectric technology, aerospace equipment processing and manufacturing, industrial equipment and automation, new materials and modern services.

DEAL STATS #
Overall 1 of 1
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Luxembourg) 1 of 1
Year (2013) 1 of 1
Buyer

SAIC Motor

Shanghai, China
Category Company
Founded 1997
Sector Automotive
Employees207,001
Revenue 744.7B CNY (2023)
DESCRIPTION

SAIC Motor Corporation is a Chinese automotive manufacturing company. SAIC Motor Corporation was founded in 1997 and is based in Shanghai, China.

DEAL STATS #
Overall 1 of 1
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Luxembourg) 1 of 1
Year (2013) 1 of 1

Seller(S) 3

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.

DEAL STATS #
Overall 85 of 171
Sector (Electronics) 3 of 3
Type (Add-on Acquisition) 33 of 59
Country (Luxembourg) 2 of 2
Year (2013) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-02 Cengage

Boston, Massachusetts, United States

Cengage is an education and technology company that offers valuable options at affordable price points, including industry-leading initiative Cengage Unlimited, the first-of-its-kind all-access digital subscription service for higher education. The company embraces innovation to create learning experiences that build confidence and momentum toward the future students want. It also serves K-12, library, and workforce training markets around the world. Cengage was formed in 2014 and is Headquartered in Boston, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 HUB International

Chicago, Illinois, United States

HUB International is a global insurance brokerage providing a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States (including Puerto Rico), Canada and Brazil. HUB International was formed in 1998 and is based in Chicago, Illinois.

Sell $4.4B
SELLER

Hutton Collins Partners

London, United Kingdom

Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Hutton Collins is a UK-based investor in established, profitable, mid-sized Western European businesses. Hutton invests mezzanine, preferred, and minority equity capital to support buyouts, acquisition financings, expansions, restructurings, and shareholder liquidity needs. Hutton generally invests €35 to €100 million in businesses valued between €100 and €500 million. The Firm has particular interest in opportunities throughout Spain, France, and Italy. Hutton is a generalist investor and has deep expertise in business services, leisure, healthcare, and financial services. Hutton Collins is based in London.

DEAL STATS #
Overall 10 of 17
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 7 of 11
Country (Luxembourg) 1 of 1
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-15 2e2 Group

Newbury, United Kingdom

2e2 Group Ltd. is an IT services provider offering IT infrastructure, maintenance, networking, education and other managed services. 2e2 Group was formed in 2002 and is based in Newbury, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-21 Byron Burgers

London, United Kingdom

Byron Burgers is a burger chain operating in a niche segment of UK casual dining market. Byron Burgers was formed in 2007 and is based in London, England.

Buy -
SELLER

BIP Investment Partners

Investor

Category Private Equity Firm
Founded 2000
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BIP Investment Partners is a private equity firm firm focused on a variety of long-term investments including buyouts, growth capital financings, sale of minority stakes, successions, and corporate spin-offs. BIP prefers opportunities in Austria, Belgium, France, Germany, Luxembourg, Netherlands, and Switzerland and generally looks to commit €10 to €25 million per transaction. Sectors of interest include technology, media, telecom, industrial, consumer, retail, business services, and healthcare. BIP investment Partners is headquartered in Luxembourg.

DEAL STATS #
Overall 3 of 9
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 3 of 6
Country (Luxembourg) 3 of 4
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-02 KeyDrive S.A.

Luxembourg, Luxembourg

KeyDrive S.A. is an internet solutions holding company. Its subsidiaries offer different internet related services. Among the core business areas are domain registration, monetization and aftermarket services. KeyDrive S.A. was founded in 2011 and is based in Luxembourg.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-15 Utimaco

Aachen, Germany

Utimaco is a global provider of specialist professional cybersecurity and compliance solutions, offering hardware-based, high-security appliances (hardware security modules) and compliance solutions for telecommunication provider regulations (lawful interception and data retention). Utimaco was founded in 1983 and is headquartered in Aachen, Germany, and has around 170 employees worldwide.

Buy -
Mergr

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Company

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