M&A Deal Summary

Avnet Acquires Memec Group Holdings

On April 26, 2005, Avnet acquired distribution company Memec Group Holdings from Permira for 676M USD

Acquisition Highlights
  • This is Avnet’s 13th transaction in the Distribution sector.
  • This is Avnet’s 2nd largest (disclosed) transaction.
  • This is Avnet’s 3rd transaction in the United Kingdom.

M&A Deal Summary
Date 2005-04-26
Target Memec Group Holdings
Sector Distribution
Buyer(s) Avnet
Sellers(s) Permira
Deal Type Add-on Acquisition
Deal Value 676M USD
Advisor(s) Credit Suisse Investment Banking (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Memec Group Holdings

Stevenage, United Kingdom
Memec is a global semiconductor distributor specializing in demand creation and servicing the electronics industry. The company provides original equipment manufacturers with engineering expertise and a portfolio of semiconductor devices, and helps design customized, differentiated products. Memec is based in Stevenage, England.

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Buyer(S) 1

Buyer

Avnet

Phoenix, Arizona, United States
Category Company
Founded 1921
Sector Distribution
Employees15,800
Revenue 26.5B USD (2023)
DESCRIPTION
Avnet's corporate headquarters in Phoenix, Arizona.
Avnet's corporate headquarters in Phoenix, Arizona.

Avnet is a distributor of electronic components, computer products, and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. Avnet was founded in 1921 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 23 of 78
Sector (Distribution) 13 of 32
Type (Add-on Acquisition) 19 of 68
Country (United Kingdom) 3 of 9
Year (2005) 1 of 1
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-08 DNS Slovakia

Slovakia

DNS Slovakia is a distribution company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-31 Avnet - Microwave Technical Solutions Assets

San Jose, California, United States

Avnet - Microwave Technical Solutions Assets is a line of standard RF and microwave components, as well as high reliability screening and value-added testing services, for military and industrial customers.

Sell -

Seller(S) 1

SELLER

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 75.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.

DEAL STATS #
Overall 16 of 90
Sector (Distribution) 3 of 3
Type (Add-on Acquisition) 5 of 30
Country (United Kingdom) 6 of 17
Year (2005) 1 of 5
Size (of disclosed) 31 of 37
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-28 Intelsat

Luxembourg, Luxembourg

Intelsat is a provider of fixed satellite services worldwide, delivering advanced transmission access for information and entertainment to some of the world’s leading media and network companies, multi-national corporations, internet service providers and governmental agencies. Intelsat was formed in 1965 and is based in Luxembourg.

Buy €4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-01 Inmarsat

London, United Kingdom

Inmarsat is a global mobile satellite communications provider that owns and operates a diverse global portfolio of mobile telecommunications satellite networks, and holds a multi-layered, global spectrum portfolio, covering L-band, Ka-band, and S-band, enabling unparalleled breadth and diversity in the solutions it provides. Inmarsat's long-established global distribution network includes not only the world's leading channel partners but also its own strong direct retail capabilities, enabling end-to-end customer service assurance. The company has an unrivalled track record of operating reliable global mobile satellite telecommunications networks, sustaining business and mission critical safety and operational applications for more than 40 years. It is also a major driving force behind technological innovation in mobile satellite communications, sustaining its leadership through a substantial investment and a powerful network of technology and manufacturing partners. Inmarsat was formed in 1979 and is based in London.

Sell -
Mergr

Product

Company

Legal