M&A Deal Summary

Barclaycard Acquires Clydesdale Financial Services

On May 20, 2003, Barclaycard acquired financial services company Clydesdale Financial Services from Equistone Partners Europe Limited and Intermediate Capital Group for 86M EUR

Acquisition Highlights
  • This is Barclaycard’s 1st transaction in the Financial Services sector.
  • This is Barclaycard’s largest (disclosed) transaction.
  • This is Barclaycard’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2003-05-20
Target Clydesdale Financial Services
Sector Financial Services
Buyer(s) Barclaycard
Sellers(s) Equistone Partners Europe Limited
Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 86M EUR

Target

Clydesdale Financial Services

United Kingdom
Clydesdale Financial Services is the consumer credit business.Financial Services has grown to become a key provider of store cards and interest free credit products to a number of retail clients including Scottish Hydro, Karen Millen and Focus DIY.

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Buyer(S) 1

Buyer

Barclaycard

Northampton, United Kingdom

Category Company
Founded 1966
Sector Financial Services
DESCRIPTION

Barclaycard, part of Barclays Bank PLC, is a global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit and point of sale finance.


DEAL STATS #
Overall 1 of 3
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
Country (United Kingdom) 1 of 2
Year (2003) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-08 The Logic Group Holdings

Fleet, United Kingdom

The Logic Group Holdings Ltd. is a provider of secure management of information and transactions through the delivery of trusted payment and loyalty solutions that enable increased revenue, improved profit, and reduced operating costs and risk.

Buy -

Seller(S) 2

SELLER

Equistone Partners Europe Limited

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone Partners Europe Ltd is a private equity firm that invests in small to mid-sized companies with valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, and recapitalizations. Equistone Partners Europe Ltd. (formerly Barclays Private Equity Ltd) was formed in 1997 and is based in London.


DEAL STATS #
Overall 14 of 192
Sector (Financial Services) 2 of 8
Type (Add-on Acquisition) 11 of 67
Country (United Kingdom) 11 of 84
Year (2003) 4 of 10
Size (of disclosed) 45 of 58
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-08 Frank Thomas Holdings

Higham Ferrers, United Kingdom

Frank Thomas is the UK?s leading branded motorcycle clothing designer and distributor.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 Minimax

Bad Oldesloe, Germany

Minimax is one of the European suppliers of complete fire protection solutions. Minimax was founded in 1902 and is based in Bad Oldesloe, Germany.

Sell -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 27 of 217
Sector (Financial Services) 1 of 6
Type (Add-on Acquisition) 7 of 67
Country (United Kingdom) 13 of 59
Year (2003) 1 of 6
Size (of disclosed) 71 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-30 Souriau-Sunbank Connection Technologies

Versailles, Pennsylvania, France

Souriau SAS is a provider in connector solutions for industrial, military aeronautics and aerospace applications. The company makes a wide range of interconnection systems for severe environments (high pressure, extreme temperature, marine environments, exposure to electromagnetic or nuclear radiation, etc.)

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 YPS

Singapore, Singapore

YPS is a marketer and distributor of advertising-sponsored Yellow and White Page directories. YPS publishes six directories with a combined circulation of approximately 3.1 million.

Buy -