M&A Deal Summary

Charterhouse Capital Partners Acquires Mec3

On November 14, 2016, private equity firm Charterhouse Capital Partners acquired food company Mec3 from The Riverside Company, Intermediate Capital Group and Lexington Partners

Acquisition Highlights
  • This is Charterhouse Capital Partners’ 3rd transaction in the Food sector.
  • This is Charterhouse Capital Partners’ 3rd transaction in Italy.

M&A Deal Summary
Date 2016-11-14
Target Mec3
Sector Food
Buyer(s) Charterhouse Capital Partners
Sellers(s) The Riverside Company
Intermediate Capital Group
Lexington Partners
Deal Type Secondary Buyout

Target

Mec3

Rimini, Italy
Mec3 is a developer, manufacturer and marketer of ingredients for gelato, pastry and other foods. Mec3 was founded in 1984 and is based in Rimini, Italy.

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Buyer(S) 1

Buyer

Charterhouse Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1934
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Charterhouse Capital Partners is a large private equity firm specializing in buyouts of European industrial and commercial service companies. The Firm primarily seeks opportunities in Western Europe and the UK. Charterhouse focuses on profitable companies led by experienced management valued from €200 million to €1.5 billion. Specific areas of interest include business services, chemicals, engineering, leisure, transport and logistics. Charterhouse Capital Partners was formed in 1934 and is based in London.

DEAL STATS #
Overall 34 of 51
Sector (Food) 3 of 3
Type (Secondary Buyout) 22 of 28
Country (Italy) 3 of 4
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-03 Sagemcom

Bois-Colombes, France

Sagemcom is a designer, developer and producer of a complete line of products for the broadband, set top box and printing industries. These products include consumer faxes, terminal & pro systems, photo printers, broadband access/DSL/FTTH, residential telephones, Wifi terminals, digital set top boxes, energy metering, networking equipment, video projectors and radio /modules. Sagemcom was founded in 2008 and is based in Bois-Colombes, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-09 SERB Pharmaceuticals

Luxembourg, Luxembourg

SERB Pharmaceuticals is an independent niche specialty pharma company focused on niche branded prescription medicines. The company has a strong focus on therapeutic areas such as critical and emergency care, neurology, diagnostics and endocrinology. SERB Pharmaceuticals was founded in 1951 and is based in Luxembourg.

Buy -

Seller(S) 3

SELLER

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 115 of 191
Sector (Food) 4 of 6
Type (Secondary Buyout) 47 of 77
Country (Italy) 2 of 2
Year (2016) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-10 Independent Doctors of Optometric Care

Norwalk, Connecticut, United States

Independent Doctors of Optometric Care is an alliance of independent optometrists throughout the U.S. IDOC includes practices representing more than 1,400 optometrist members across the United States. The company has more than 65 partner vendors and provides group purchasing services, marketing, and continuing-education offerings to its members.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-16 Waste Services Group

Braeside, Australia

Waste Services Group provides diversified waste collection services to the Australian commercial and industrial sectors, utilizing front-lift waste removal trucks to collect customer waste streams and providing national broker and account management services for commercial and industrial customers with multi-site and complex waste collection requirements. Waste Services Group was founded in 2016 and is based in Braeside, Australia.

Buy -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 178 of 217
Sector (Food) 8 of 11
Type (Secondary Buyout) 67 of 83
Country (Italy) 5 of 7
Year (2016) 13 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-10 1st Credit

Reigate, United Kingdom

1st Credit Ltd. provides outsourcing services to financial institutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-18 Hune Rental SLU

Madrid, Spain

Hune Rental SLU is one of the major equipment rental companies in Spain with a network of 35 branches. It also operates branch networks in Portugal, France and joint-ventures in Saudi Arabia and Colombia.

Sell -
SELLER

Lexington Partners

New York, New York, United States
Category Private Equity Firm
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lexington Partners is a private investment firm with approximately $33 billion in committed capital for private equity investing. Lexington Partners focuses its activity on secondary investments, equity co-investments, and fund investments. Lexington's primary business is its secondary private equity group, which seeks to provide liquidity for private equity fund interests. Lexington's co-investment group looks to invest $10 to $100 million alongside private equity sponsors in a variety of sectors. Lexington Partners was formed in 1994 and is based in New York City.

DEAL STATS #
Overall 5 of 5
Sector (Food) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Italy) 1 of 1
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-12 Motion Dynamics

Fruitport, Michigan, United States

Motion Dynamics is a manufacturer of wire-based micro-components and sub-assemblies, which are frequently found in micro-catheters, pacemakers, and neuromodulation devices. The Company focuses on products that require fine and ultra-fine wire diameters, unique alloy types and shapes, and high precision/tight tolerances. Motion Dynamics was founded in 1992 and is based in Fruitport, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Jet Parts Engineering

Seattle, Washington, United States

Jet Parts Engineering is a designer of proprietary OEM-alternative parts and repair services for the commercial aerospace industry. JPE provides proprietary aftermarket replacement components, known as Parts Manufacturing Approval (“PMA”) and complementary proprietary component repair services, known as Designated Engineering Representative (“DER”) repairs. JPE’s PMA parts and DER repairs deliver significant cost savings to its commercial airline and MRO customers. Jet Parts Engineering was founded in 1994 and is based Seattle, Washington.

Buy -
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