M&A Deal Summary

BDT Capital Partners and Mubadala Capital Acquire Culligan

On May 25, 2021, merchant bank BDT Capital Partners and sovereign wealth fund Mubadala Capital acquired consumer products company Culligan from Advent International

Acquisition Highlights
  • This is BDT Capital Partners’ 2nd and Mubadala Capital’s 1st transaction in the Consumer Products sector.
  • This is BDT Capital Partners’ 7th and Mubadala Capital’s 5th transaction in the United States.
  • This is BDT Capital Partners’ 1st and Mubadala Capital’s 1st transaction in Illinois.

M&A Deal Summary
Date 2021-05-25
Target Culligan
Sector Consumer Products
Buyer(s) BDT Capital Partners
Mubadala Capital
Sellers(s) Advent International
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Citigroup Investment Banking (Financial)

Target

Culligan

Rosemont, Illinois, United States
Culligan offers water softeners, filtration systems, industrial water treatment solutions, and drinking water systems. Culligan was founded in 1936 and is based in Rosemont, Illinois.

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Buyer(S) 2

Buyer

BDT Capital Partners

Category Merchant Bank
Founded 2009
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term, differentiated equity capital. BDT Capital Partners is an affiliate of merchant bank BDT & Company. The Firm is based in Chicago, Illinois.

DEAL STATS #
Overall 9 of 12
Sector (Consumer Products) 2 of 3
Type (Secondary Buyout) 6 of 6
State (Illinois) 1 of 2
Country (United States) 7 of 10
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-19 AGP Group

Ghent, Belgium

AGP Group is a glazing manufacturer that has developed a large portfolio of products for the automotive, marine, and security markets. The company provides high-tech glazing solutions to more than 20 automotive brands that are shaping the future of mobility through electrification and autonomous driving. AGP has six manufacturing plants and two Tech Innovation Centers in Europe and South America as well as commercial offices in 20 countries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-21 Milestone Brands

Austin, Texas, United States

Milestone Brands is a national spirits supplier and acquirer, innovator, and marketer of alcohol beverage brands. Milestone Brands was formed in 2016 and is based in Austin, Texas.

Buy -
Buyer

Mubadala Capital

Investor

Category Sovereign Wealth Fund
Founded 2002
PE ASSETS 276.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Mubadala Capital is a private equity firm focused on investing capital across a range of assets worldwide. The Firm primarily invests in private and public assets, but also considers credit, real estate, and alternatives. Mubadala invests in a variety of sectors including industrials, healthcare, energy, renewables, financial services, infrastructure, and business services. Mubadala Capital was founded in 2008 and is headquartered in Abu Dhabi, United Arab Emirates.

DEAL STATS #
Overall 23 of 43
Sector (Consumer Products) 1 of 2
Type (Secondary Buyout) 6 of 15
State (Illinois) 1 of 1
Country (United States) 5 of 12
Year (2021) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-09 Aramco Oil Pipelines

Dhahran, Saudi Arabia

Aramco Oil Pipelines is a pipeline company that provides tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network. Aramco Oil Pipelines is based in Dhahran, Saudi Arabia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 ACTIVE Al Maryah

Abu Dhabi, United Arab Emirates

ACTIVE Al Maryah is a provider of neighboring community with exceptionally serviced, well-maintained, well-managed sport and recreation facilities. ACTIVE Al Maryah Island caters to individuals of all fitness levels, providing advanced sports equipment and employing expert coaches and trainers to empower athletes and sports enthusiasts to realize their goals. ACTIVE Al Maryah was founded in 2021 and is based in Abu Dhabi, United Arab Emirates.

Buy -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 197 of 222
Sector (Consumer Products) 5 of 7
Type (Secondary Buyout) 49 of 58
State (Illinois) 3 of 4
Country (United States) 67 of 79
Year (2021) 9 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-21 Circet

Sollies-Pont, France

Circet is a provider of telecoms infrastructure services. Circet's clients include telecoms operators, manufacturers of telecoms equipment, key accounts owning infrastructures, infrastructure operators, the state and local authorities. Circet was founded in 1993 and is based in Sollies-Pont, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Hoist Group

Stockholm, Sweden

Hoist Group provides technology solutions to hotels, enabling them to manage coherent end-to-end digital journeys for their guests. Hoist Group optimizes guest services by correlating and analyzing the data that comes from its innovative Property Management & Booking Software, Managed IP Networks, Internet and TV as well as from many other digital touchpoints. Hoist Group was formed in 1994 and is based in Stockholm, Sweden.

Buy -
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