M&A Deal Summary

BC Partners, ATP Private Equity Partners and Ardian Acquire PetSmart

On December 15, 2014, private equity firms BC Partners, ATP Private Equity Partners and Ardian acquired retailer PetSmart for 8.7B USD

Acquisition Highlights
  • This is BC Partners’ 6th, ATP Private Equity Partners’ 1st and Ardian’s 12th transaction in the Retail sector.
  • This is BC Partners’ 2nd, ATP Private Equity Partners’ 2nd and Ardian’s 8th largest (disclosed) transaction.
  • This is BC Partners’ 10th, ATP Private Equity Partners’ 12th and Ardian’s 27th transaction in the United States.
  • This is BC Partners’ 1st, ATP Private Equity Partners’ 1st and Ardian’s 2nd transaction in Arizona.

M&A Deal Summary

Date 2014-12-15
Target PetSmart
Sector Retail
Buyer(s) BC Partners
ATP Private Equity Partners
Ardian
Deal Type Going Private
Deal Value 8.7B USD
Advisor(s) J.P. Morgan Securities (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

PetSmart

Phoenix, Arizona, United States
Entrance to PetSmart's corporate headquarters in Phoenix, Arizona.
Entrance to PetSmart's corporate headquarters in Phoenix, Arizona.
PetSmart is a specialty retailer and provider of pet products and services in North America. The Company also offers a selection of services, including professional grooming and boarding, as well as training and day camp for dogs. PetSmart was formed in 1986 and is based in Phoenix, Arizona.

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Buyer(S) 3

Buyer

BC Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 30.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

BC Partners is a large investment group focused on private equity, credit, real estate, and co-investment strategies. The Firm's private equity group looks to make control investments in European and North American businesses valued above €300 million. Sectors of interest include healthcare, directory publishing, media, industrial products, food, distribution, manufacturing, consumer services, business services, and communications. BC Partners was formed in 1986 and is based in London, England.


DEAL STATS #
Overall 59 of 96
Sector (Retail) 6 of 6
Type (Going Private) 2 of 6
State (Arizona) 1 of 1
Country (United States) 10 of 18
Year (2014) 3 of 3
Size (of disclosed) 2 of 42
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-08 Teneo

New York, New York, United States

Teneo is a global consulting and communications firm that provides strategic advisory services to CEOs and C-level executives of the world's leading companies. The company's core service is providing strategic and communications services, which covers a wide array of engagements such as customer communications, crisis management, investor relations, digital and social media consulting, executive recruitment, and litigation management. Teneo was founded in 2011 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-31 Phones 4u

Newcastle-under-Lyme, United Kingdom

MobileServ, operating under the Phones 4u brand, is a independent multi-channel mobile phone distributor among the youth market in the UK and the largest provider of mobile phone insurance in the UK.

Sell -
Buyer

ATP Private Equity Partners


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

ATP Private Equity Partners is a Danish institutional investment firm focused on investing in private equity funds across Europe, North America, and select emerging markets. The Firm is supported by ATP, Denmark's largest pension fund. In addition to investing in private equity funds, ATP also looks to for co-investment situations. ATP Private Equity Partners was formed in 2001 and is headquartered in Copenhagen, Denmark.


DEAL STATS #
Overall 28 of 44
Sector (Retail) 1 of 1
Type (Going Private) 3 of 4
State (Arizona) 1 of 1
Country (United States) 12 of 19
Year (2014) 4 of 4
Size (of disclosed) 2 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-18 Lindorff

Oslo, Norway

Lindorff is a full-service European credit management service provider. The company offers information services, payment services, invoicing services, debt collection, and debt purchase. Lindorff was founded in 1898 and is based in Oslo, Norway.

Buy €2.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-02 Sanitec

Helsinki, Finland

Sanitec is a European multi-brand group that designs, manufactures, and markets bathroom ceramics and bath and shower products. Sanitec was founded in 1990 and is based in Helsinki, Finland.

Sell $1.4B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 223 of 418
Sector (Retail) 12 of 15
Type (Going Private) 8 of 15
State (Arizona) 2 of 3
Country (United States) 27 of 59
Year (2014) 19 of 22
Size (of disclosed) 8 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 SUEZ

Maidenhead, United Kingdom

SUEZ provides more than seven million tonnes of waste through our network of recycling, composting, energy-from-waste, and landfill facilities, recycling and recovering over two million tonnes of this. SUEZ was founded in 1988 and is based in Maidenhead, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-16 A-Plan

Witney, United Kingdom

A-Plan Ltd. is a UK specialist multichannel insurance broking group with a focus on personal lines and a growing presence in specialized products such as SME policies. The group’s core proposition is a branch-led, service-driven offering, valued by its large base of loyal customers that today make up over 1.5 million policies nationally. A-Plan was formed in 1963 and is based in Witney, United Kingdom.

Buy -