M&A Deal Summary

Charlesbank Capital Partners and HarbourVest Partners Acquire Polyconcept

On July 18, 2016, private equity firms Charlesbank Capital Partners and HarbourVest Partners acquired distribution company Polyconcept from Investcorp, 3i Private Equity and European Capital

Acquisition Highlights
  • This is Charlesbank Capital Partners’ 3rd and HarbourVest Partners’ 3rd transaction in the Distribution sector.
  • This is Charlesbank Capital Partners’ 1st and HarbourVest Partners’ 6th transaction in the Netherlands.

M&A Deal Summary

Date 2016-07-18
Target Polyconcept
Sector Distribution
Buyer(s) Charlesbank Capital Partners
HarbourVest Partners
Sellers(s) Investcorp
3i Private Equity
European Capital
Deal Type Secondary Buyout

Target

Polyconcept

Roelofarendsveen, Netherlands
Polyconcept supplies a wide range of promotional, lifestyle and gift products to more than 10,000 advertising distributors across Europe, as well as to various retail channels. End-users range from large corporations to small enterprises and consumers. Polyconcept was founded in 1973 and is based in Roelofarendsveen, Netherlands.

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Buyer(S) 2

Buyer

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 54 of 90
Sector (Distribution) 3 of 6
Type (Secondary Buyout) 14 of 32
Country (Netherlands) 1 of 1
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-22 Zenith Products

New Castle, Delaware, United States

Zenith Products is a designer and manufacturer of bathroom storage products and accessories for the retail market. Products include shower rods, ready-to-assemble bathroom furniture, medicine cabinets and shower caddies. The company was formerly a division of publicly traded Masco Corporation.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-19 QC Supply

Schuyler, Nebraska, United States

QC Supply is a specialty distributor and solutions provider to swine and poultry markets, as well as to other production and companion animal businesses and professionals. The company offers a broad selection of brand name and proprietary products and “one stop shopping” across three business segments: consumables (items such as rubber gloves and specialty lightbulbs), equipment (systems, such as feeding and climate control, and corresponding replacement parts) and turnkey solutions (design and management of new and retrofit barn construction and the purchase and installation of related equipment). QC Supply was founded in 1982 and is based in Schuyler, Nebraska.

Buy -
Buyer

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 145 of 223
Sector (Distribution) 3 of 3
Type (Secondary Buyout) 30 of 55
Country (Netherlands) 6 of 7
Year (2016) 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-08 Moeller Aerospace

Wixom, Michigan, United States

Moeller Aerospace manufactures highly engineered, flight-critical jet engine components including flow-path hardware such as turbine blades and nozzles. Moeller has become a recognized industry leader in the precision machining of many materials including nickel alloys, stainless steel, titanium, and super alloys in wrought, forged and cast form. Moeller also designs and produces a proprietary fastening technology through its Click-Loc and FlexThread fastener lines. Moeller Aerospace was founded in 1949 and is based in Wixom, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-05 Cruise

Redditch, United Kingdom

Cruise is an online travel agent serving UK for cruise reviews and cruise related questions and answers and publishes unique content and consolidates comparison tables of on-board facilities. Cruise was founded in 1984 and is based in Redditch, United Kingdom.

Buy £52M

Seller(S) 3

SELLER

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


DEAL STATS #
Overall 80 of 106
Sector (Distribution) 6 of 7
Type (Secondary Buyout) 24 of 36
Country (Netherlands) 2 of 4
Year (2016) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-29 L azurde

Riyadh, Saudi Arabia

L'azurde is designer, manufacturer and distributor of gold jewelry for the premium mass market, and the fourth largest gold jewelry manufacturer globally. L'azurde was established in 1982 and is based in Riyadh, Saudi Arabia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-08 Tyrrells Potato Crisps

Leominster, United Kingdom

Tyrrells Potato Crisps Ltd. is a diversified, international snacking company that manufactures and markets iconic, market-leading brands including Tyrrells Potato Crisps®, Tyrrells branded Vegetable Crisps, Tyrrells Poshcorn®, Tyrrells Nibbles®, Tyrrells Tortillas®, in the United Kingdom, Europe and many other international markets; Yarra Valley, manufacturer of Thomas Chipman and The Wholesome Food Company brands in Australia; and Aroma Snacks, manufacturer of Lisa’s kettle chips in Germany.

Sell £300M
SELLER

3i Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1945
PE ASSETS 16.7B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

3i Private Equity is the private equity arm of 3i Group, a publicly held, global investment firm focused on private equity and infrastructure investing. 3i Private Equity generally targets buyout and growth capital financings and looks for opportunities across Europe, North America, and Asia. The Firm's targeted transaction range is €100 to €500 million. Industries of interest include business services, healthcare, consumer, media, oil/gas & power, technology, and financial services. 3i Group was originally formed in 1945 and is based in London.


DEAL STATS #
Overall 175 of 194
Sector (Distribution) 4 of 5
Type (Secondary Buyout) 74 of 83
Country (Netherlands) 11 of 13
Year (2016) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-17 Basic-Fit

Hoofddorp, Netherlands

Basic-Fit is a provider in the value-for-money fitness market with c900 clubs across five countries. Its operating model is based on a quality service, no frills approach, with memberships at €19.99 per 4 weeks. Clubs are well equipped, offer virtual group classes and 24 hour opening in some venues. Basic-Fit was founded in 1984 and is based in Hoofddorp, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-04 Havea

Montaigu, France

Havea is a manufacturer of natural healthcare and cosmetics products ranging from functional and natural food supplements (for stress control, energy and memory boosters, sleeping aids etc.) to natural cosmetics and hygiene products for babies and women. It owns several well-known brands, including Biolane, Yves Ponroy, Vitarmonyl, Manhae, Lecitone, Force G, Ultrabiotique, and Naturé Moi. Havea was founded in 1975 and is based in Montaigu, France.

Buy -
SELLER

European Capital

London, United Kingdom

Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.


DEAL STATS #
Overall 48 of 54
Sector (Distribution) 2 of 2
Type (Secondary Buyout) 21 of 24
Country (Netherlands) 4 of 4
Year (2016) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-15 Flowbird Group

Neuilly-sur-Seine, France

Flowbird Group is a provider of parking management solutions and a major player in public transport ticketing equipment. The company operates through two business divisions, Smart Parking operates across the whole value chain of the on-street parking management and Smart Transport provides ticketing solutions (connected ticket and validation terminals) and associated software systems for public transport. Flowbird Group is based in Paris, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-18 Onduline

Suresnes, France

Onduline is a manufacturing and marketing bitumen based roofing materials mainly roofing sheets and roof deck sheets. Onduline develops, produces and sells light building materials produced from recycled fibers and oil. Onduline was founded in 1944 and is based in Suresnes, France.

Sell -