M&A Deal Summary

Baird Capital and CVC Capital Partners Acquire Nirvana Asia

On July 8, 2016, private equity firms Baird Capital and CVC Capital Partners acquired consumer services company Nirvana Asia

Acquisition Highlights
  • This is Baird Capital’s 1st and CVC Capital Partners’ 8th transaction in the Consumer Services sector.
  • This is Baird Capital’s 1st and CVC Capital Partners’ 4th transaction in Malaysia.

M&A Deal Summary
Date 2016-07-08
Target Nirvana Asia
Sector Consumer Services
Buyer(s) Baird Capital
CVC Capital Partners
Deal Type Going Private
Advisor(s) UBS Investment Bank (Financial)
Sullivan & Cromwell (Legal)

Target

Nirvana Asia

Kuala Lumpur, Malaysia
Nirvana Asia is an integrated death care service provider in Asia, in terms of contract sales, revenue, and land bank. The Company offers burial and funeral services and products on both as-need and pre-need bases, strategically targeting the premium segment of the death care services market. Nirvana Asia is one of the largest death care service provider in Malaysia and the only commercial columbarium operator in Singapore. Currently, the Company offers premium deathcare products and services through a network of 14 cemeteries, 14 columbarium facilities, six on-site crematoria and two funeral homes in Indonesia, Singapore, Thailand, Vietnam, and China. Nirvana Asia was founded in 1990 and is based in Kuala Lumpur, Malaysia.

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Buyer(S) 2

Buyer

Baird Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 3.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Baird Capital Partners (BCP) is the US private equity arm of Baird Private Equity. BCP makes investments in middle-market companies based in the US. BCP targets companies valued between $25 and $125 million and looks to invest between $15 and $35 million of equity per transaction. BCP focuses on three primary areas including business services (transaction processing, process outsourcing, professional services), healthcare (outsourcing services, medical products, contract manufacturing), and manufactured products (industrial/commercial, specialty consumer, distribution). BCP is affiliated with Baird Capital Partners Europe, Baird Capital Partners Asia, Baird Venture Partners, and Granville Baird Capital Partners. Baird Capital Partners is based in Chicago, Illinois.

DEAL STATS #
Overall 54 of 75
Sector (Consumer Services) 1 of 1
Type (Going Private) 1 of 1
Country (Malaysia) 1 of 1
Year (2016) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 Duet Health

Columbus, Ohio, United States

Duet Health LLC is a developer of patient engagement software and mHealth solutions. Duet provides multi-platform software products that empower hospitals, health systems, and providers to better communicate and engage with their patient populations.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-17 Mayline

Sheboygan, Wisconsin, United States

Mayline Company LLC is a designer, manufacturer, and distributor of innovative office furniture. Mayline provides high-quality, value-based desking, seating and modular workstations for all segments of the contract furniture market, as well as innovative products for niche segments of the office furniture market.

Sell -
Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.

DEAL STATS #
Overall 191 of 323
Sector (Consumer Services) 8 of 10
Type (Going Private) 9 of 14
Country (Malaysia) 4 of 5
Year (2016) 7 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-30 Sisal

Milan, Italy

Sisal is an operator in the Italian gaming market as a government licensee. Through its capillary network of 47,000 points of sale, the company in excess of 500 payment services to the Italian public which are still primarily reliant on traditional cash payments. Sisal is based in Milan, Italy.

Buy €1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-29 Siloam International Hospitals

Tangerang, Indonesia

Siloam International Hospitals is a private hospital operator in Indonesia both in terms of size and quality of medical services and facilities. The company operates 33 hospitals with a combined total of more than ~6,800 beds capacity. Siloam's existing hospitals are equipped with state of the art equipment and the latest medical technology in Indonesia. Siloam International Hospitals was founded in 1996 and is based in Tangerang, Indonesia.

Buy -
Mergr

Product

Company

Legal