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M&A Deal Summary

AXA and Crédit Agricole Assurances SA Acquire European Locomotive Leasing

On December 20, 2019, AXA and Crédit Agricole Assurances SA acquired transportation company European Locomotive Leasing from KKR

Acquisition Highlights
  • This is AXA’s 1st and Crédit Agricole Assurances SA’s 1st transaction in the Transportation sector.
  • This is AXA’s 1st and Crédit Agricole Assurances SA’s 1st transaction in Austria.

M&A Deal Summary
Date 2019-12-20
Target European Locomotive Leasing
Sector Transportation
Buyer(s) AXA
Crédit Agricole Assurances SA
Sellers(s) KKR
Deal Type Add-on Acquisition

Target

European Locomotive Leasing

Wien, Austria
European Locomotive Leasing is known for its full-service leasing of electric locomotives for European corridors. The ELL Vectron is suitable for passenger and freight transportation and the whole fleet is fully equipped with ETCS. Predictive maintenance and a large inventory of spare parts are key to the concept of full-service leasing.

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Buyer(S) 2

Buyer

AXA

Paris, France
Category Company
Founded 1852
Sector Insurance
Employees100,041
Revenue 89.8B EUR (2024)
DESCRIPTION

AXA is a provider of financial protection and asset management services primarily in western Europe, North America, the Asia Pacific region, the Middle East, and Africa. The Company offers a range of life and savings products, including individual and group savings retirement products, life and health products. The Property & Casualty segment includes a range of products, including motor, property and general liability insurance for both personal and commercial customers. AXA was founded in 1852 and is based in Paris, France.

DEAL STATS #
Overall 13 of 15
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 7
Country: Austria M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-05 XL Group

Hamilton, Bermuda

XL Group plc is a insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis.

Buy $15.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-07 AXA Poland

Paris, Poland

AXA Poland offers a full range of Life and Savings (L&S), Property and Casualty (P&C), Pension, and Asset Management products and solutions to ca. 3.2 million customers. The company has 1,575 employees and distributes its products through two tailored multichannel networks, dedicated to P&C and L&S. It also benefits from an exclusive and multi-product bancassurance partnership with mBank.

Sell -
Buyer

Crédit Agricole Assurances SA

Paris, France
Category Company
Founded 2009
Sector Insurance
DESCRIPTION

Crédit Agricole Assurances SA, is a provider of savings, retirement, health, personal protection and property insurance products and services.

DEAL STATS #
Overall 3 of 5
Sector: Transportation M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 4
Country: Austria M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-06 2i Aeroporti

Milan, Italy

2i Aeroporti is a holding company set-up to acquire and management airport and other transportation infrastructure assets. 2i Aeroporti was founded in 2010 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-11 Eolia

Madrid, Spain

Eolia is an independent power producer in the Spanish renewable energy sector, engaged in the development, construction and operation of wind farms and solar photovoltaic plants. Eolia was founded in 2007 and is based in Madrid, Spain.

Buy -

Seller(S) 1

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 135 of 215
Sector: Transportation M&A 4 of 5
Type: Add-on Acquisition M&A Deals 48 of 69
Country: Austria M&A 1 of 1
Year: 2019 M&A 14 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-08 Metro Pacific Health

Pasig City, Philippines

Metro Pacific Health is an operator of private hospitals and healthcare network. Metro Pacific Health was founded in 2007 and is based in Pasig City, Philippines.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-24 OverDrive

Cleveland, Ohio, United States

OverDrive is a global digital distribution platform, supplying a catalog of eBooks, audiobooks, music, and streaming video to 30,000 libraries, schools, and retailers worldwide. OverDrive was founded in 1986 and is based in Cleveland, Ohio.

Buy -
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