M&A Deal Summary

BDT & MSD Partners, Mubadala Capital and BCI Acquire Culligan

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

Acquisition Highlights
  • This is BDT & MSD Partners’ 2nd, Mubadala Capital’s 1st and BCI’s 2nd transaction in the Consumer Products sector.
  • This is BDT & MSD Partners’ 8th, Mubadala Capital’s 5th and BCI’s 7th transaction in the United States.
  • This is BDT & MSD Partners’ 1st, Mubadala Capital’s 1st and BCI’s 1st transaction in Illinois.

M&A Deal Summary

Date 2021-05-25
Target Culligan
Sector Consumer Products
Buyer(s) BDT & MSD Partners
Mubadala Capital
BCI
Sellers(s) Advent International
Deal Type Secondary Buyout
Advisor(s) Morgan Stanley
Citi (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) 3

Buyer

BDT & MSD Partners


Category Merchant Bank
Founded 2009
PE ASSETS 60.0B 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 10 of 19
Sector: Consumer Products M&A 2 of 4
Type: Secondary Buyout M&A Deals 7 of 9
State: Illinois M&A 1 of 2
Country: United States M&A 8 of 15
Year: 2021 M&A 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 Group was founded in 1965 and is based in Ghent, Belgium.

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 44
Sector: Consumer Products M&A 1 of 2
Type: Secondary Buyout M&A Deals 6 of 15
State: Illinois M&A 1 of 1
Country: United States M&A 5 of 12
Year: 2021 M&A 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 -
Buyer

BCI

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 21.1B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 19 of 32
Sector: Consumer Products M&A 2 of 2
Type: Secondary Buyout M&A Deals 8 of 14
State: Illinois M&A 1 of 2
Country: United States M&A 7 of 15
Year: 2021 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Pete and Gerry s Organics

Monroe, New Hampshire, United States

Pete and Gerry's Organics has been raising chickens for three generations and is totally committed to bringing consumers the highest-quality organic, free-range, and pasture-raised eggs possible via its quality brands, including Pete and Gerry’s Organic, Nellie’s Free Range, and Consider Pastures. Pete and Gerry's Organics is a values-led company dedicated to the humane treatment of animals and supporting small family farms that follow the strictest standards of humane animal treatment, safety, and environmental sustainability. Pete and Gerry's Organics was formed in 1950 and is based in Monroe, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-25 PS Logistics

Birmingham, Alabama, United States

PS Logistics is a full-service logistics solution provider with over 2000 flatbed assets, vans, step decks/RGN's, brokerage division, transportation management and 3PL, and dedicated fleet operations. PS Logistics is based in Birmingham, Alabama.

Buy -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B 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 200 of 233
Sector: Consumer Products M&A 5 of 8
Type: Secondary Buyout M&A Deals 49 of 59
State: Illinois M&A 3 of 5
Country: United States M&A 68 of 84
Year: 2021 M&A 9 of 21
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 -