Investment Summary

CD&R, Hellman & Friedman, GIC, BlackRock Capital Investment and Alberta Investment Management Invest In Belron

On November 19, 2017, private equity firm CD&R, private equity firm Hellman & Friedman, sovereign wealth fund GIC, business development company BlackRock Capital Investment and pension Alberta Investment Management invested in automotive company Belron from D Ieteren

Investment Highlights
  • This is CD&R’s 1st, Hellman & Friedman’s 3rd, GIC’s 1st, BlackRock Capital Investment’s 1st and Alberta Investment Management’s 1st transaction in the Automotive sector.
  • This is CD&R’s 7th, Hellman & Friedman’s 6th, GIC’s 4th, BlackRock Capital Investment’s 1st and Alberta Investment Management’s 3rd transaction in the United Kingdom.

Investment Summary

Date 2017-11-19
Target Belron
Sector Automotive
Investor(s) CD&R
Hellman & Friedman
GIC
BlackRock Capital Investment
Alberta Investment Management
Sellers(s) D Ieteren
Deal Type Stake Purchase

Target

Belron

Surrey, United Kingdom
Belron is a provider of glass repair and replacement, trading under more than 10 major brands including Carglass, Safelite AutoGlass, and Autoglass. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Belron is based in Surrey, United Kingdom.

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Investor(S) 5

Investor

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.


DEAL STATS #
Overall 54 of 93
Sector (Automotive) 1 of 1
Type (Stake Purchase) 3 of 7
Country (United Kingdom) 7 of 14
Year (2017) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-02 SunSource

Addison, Illinois, United States

SunSource is a value-added distributor of fluid power and motion control technologies in North America. As a technically-focused distributor, SunSource serves as an extension of its customers' design and engineering teams and its suppliers' sales forces, delivering innovative solutions that lower total costs and streamline supply chains. The Company operates through four highly focused strategic business units that provide tailored solutions for the unique needs of its Industrial, Mobile, Service & Repair and Process Solutions customers. SunSource was founded in 2001 and is based in Addison, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-22 Venko Groep B.V.

Hoogeveen, Netherlands

Venko Groep B.V. is a provider of fabric maintenance services throughout the life cycle of assets, both offshore and onshore. The company offshore division delivers fabric maintenance services on oil & gas production platforms, windfarms and a wide variety of other offshore facilities.

Sell -
Investor

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 69 of 88
Sector (Automotive) 3 of 4
Type (Stake Purchase) 11 of 13
Country (United Kingdom) 6 of 6
Year (2017) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-25 Nets

Ballerup, Denmark

Nets is a payments processing utility for the Nordics region. Nets connects banks, businesses, public sector organizations, merchants and consumers through an international network facilitating digital payments. Nets was founded in 1968 and is based in Ballerup, Denmark.

Buy kr.33.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-02 OpenLink Financial

Uniondale, New York, United States

OpenLink Financial is a provider of cross-asset trading, risk management, and related portfolio management software solutions for the commodity, energy and financial services markets globally. OpenLink’s blue chip client base of more than 150 customers worldwide includes twelve of the top twenty-five largest commodity and energy companies by market capitalization, eight of the largest financial institutions and eleven of the largest central banks, as well as major hedge funds and public utilities. Headquartered on Long Island, New York, and with offices in New York, Houston, London, Berlin, Vienna, São Paulo, Sydney, and Singapore.

Sell -
Investor
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.


DEAL STATS #
Overall 20 of 43
Sector (Automotive) 1 of 1
Type (Stake Purchase) 3 of 9
Country (United Kingdom) 4 of 8
Year (2017) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Visma

Oslo, Norway

Visma offers software and services that simplify and digitize core business processes in the private and public sectors. Visma was founded in 1985 and is based in Oslo, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-20 Oxford Nanopore Technologies

Oxford Science Park, United Kingdom

Oxford Nanopore Technologies is the developer of the world’s only portable, scalable, real-time DNA/RNA sequencer, with a customer base spanning over 70 countries. Oxford Nanopore Technologies aims to disrupt the paradigm of biological analysis. Our technology and commercial model has already opened up DNA analysis to researchers who previously had no direct access to sequencing technologies, freeing them up to perform analyses in their own labs or in the field, and in real time. Oxford Nanopore Technologies is based in Oxford Science Park, United Kingdom.

Buy -
Investor

BlackRock Capital Investment

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 2005
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BlackRock Capital Investment is a publicly traded business development company (BDC) that provides middle-market companies with a variety of financing solutions. This includes senior and junior secured, unsecured and subordinated debt securities and loans, as well as equity. BlackRock Capital targets profitable companies with strong management and defensible market positions that may be underserved by traditional lending sources. The Firm looks to commit $10 to $50 million in businesses generating $10 to $50 million of EBITDA. BlackRock was formed in 2005 by BlackRock and Kelso & Company. The Firm has offices in New York City and Chicago.


DEAL STATS #
Overall 26 of 33
Sector (Automotive) 1 of 1
Type (Stake Purchase) 1 of 2
Country (United Kingdom) 1 of 2
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-30 Grupo Axo

Mexico City, Mexico

Grupo Axo is a multi-brand retail company that owns and operates Promoda, Mexico’s leading off-price retailer, and also owns the exclusive rights to commercialize 20+ international consumer brands in the apparel and accessories categories in Mexico. Grupo Axo was founded in 1994 and is based in Mexico City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-01 SVP Worldwide

LaVergne, Tennessee, United States

SVP Worldwide is a consumer sewing machine company with market shares across all industry price points. SVP unites three of the industry's most widely recognized brands, Singer, Husqvarna Viking, and Pfaff, that successfully target distinct market segments. SVP and it's legacy companies, Singer Worldwide was formed in 1851 and is based in LaVergne, Tennessee.

Sell -
Investor

Alberta Investment Management

Investor Investor Investor Investor Investor


Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.


DEAL STATS #
Overall 12 of 30
Sector (Automotive) 1 of 1
Type (Stake Purchase) 1 of 4
Country (United Kingdom) 3 of 4
Year (2017) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-14 Ring Container Technologies

Oakland, Tennessee, United States

Ring Container Technologies engages in the plastic container manufacturing industry. Ring is an industry major blow molder of high-density polyethylene (HDPE) and polyethylene terephthalate (PET) plastic bottles for the food service, retail food and other end-use markets. With outstanding growth and performance over the past decade. Ring employs more than 700 people throughout its headquarters and manufacturing locations in 17 cities across the U.S., Canada and the UK. Ring Container Technologies was founded in 1968 and is based in Oakland, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-24 Benevity

Calgary, Alberta, Canada

Benevity is a provider of corporate social responsibility and employee engagement software that allows companies to automate processes for online workplace giving, volunteering, and community investment with a social mission of “doing well by doing good.” Benevity was founded in 2008 and is based in Calgary, Alberta.

Buy -

Seller(S) 1

SELLER

D Ieteren

Brussels, Belgium

Category Company
Founded 1805
Sector Automotive
Employees2,468
Revenue 8.0B EUR (2023)
DESCRIPTION

D'Ieteren is engages in the distribution of vehicles from the Volkswagen group and Porsche. D'Ieteren Auto also distributes spare parts and accessories, and sells used vehicles through My Way. S.A. D'Ieteren was founded in 1805 and is based in Brussels, Belgium.


DEAL STATS #
Overall 1 of 1
Sector (Automotive) 1 of 1
Type (Stake Purchase) 1 of 1
Country (United Kingdom) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-03 Belron

Surrey, United Kingdom

Belron is a provider of glass repair and replacement, trading under more than 10 major brands including Carglass, Safelite AutoGlass, and Autoglass. In addition, it manages vehicle glass and other insurance claims on behalf of insurance customers. Belron is also expanding its services to focus on solving problems for people who need assistance with repairs to their vehicles and homes. Belron is based in Surrey, United Kingdom.

Buy -