M&A Deal Summary

Cinven and CVC Capital Partners Acquire Rizla UK

On May 1, 1994, private equity firms Cinven and CVC Capital Partners acquired consumer products company Rizla UK

Acquisition Highlights
  • This is Cinven’s 3rd and CVC Capital Partners’ 2nd transaction in the Consumer Products sector.
  • This is Cinven’s 39th and CVC Capital Partners’ 12th transaction in the United Kingdom.
Investment Fate
  • Rizla UK was sold to a publicly-traded strategic buyer in 1997.

M&A Deal Summary

Date 1994-05-01
Target Rizla UK
Sector Consumer Products
Buyer(s) Cinven
CVC Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Rizla UK

Bristol, United Kingdom
Rizla was the world’s largest manufacturer of cigarette papers for the roll-your-own market.

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Buyer(S) 2

Buyer

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.


DEAL STATS #
Overall 48 of 184
Sector (Consumer Products) 3 of 5
Type (Buyout (LBO, MBO, MBI)) 41 of 77
Country (United Kingdom) 39 of 87
Year (1994) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-05-01 British Bus

Business Park, United Kingdom

British Bus was one of the three largest bus operators in the UK, following the privatisation and restructuring which reshaped the industry in the early 1990s.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1994-06-01 JBA Holdings

United Kingdom

JBA Holdings plc The business operated as an IBM approved software house, supplying IBM hardware and related services, with the bulk of its revenues coming from consultancy, application development, training and on-site support. It had achieved a strong position in its market, acquiring other businesses to expand its geographical coverage in the UK and continental Europe.

Sell -
Buyer

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 14 of 323
Sector (Consumer Products) 2 of 15
Type (Buyout (LBO, MBO, MBI)) 13 of 122
Country (United Kingdom) 12 of 60
Year (1994) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1994-02-01 Entrelec SA

France

Entrelec manufactures and distributes low tension electrical connecting devices for industrial uses in sectors such as utilities, transport, automotive, and chemistry. Entrelec is the leading French operator and ranks 3 worldwide. Management improved productivity through a systematic outsourcing policy. Entrelec was ultimately taken over by the ABB Group in 2001.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1994-06-01 The Magic Pub

Suffolk, United Kingdom

The Magic Pub Company Pub operated the 286 pubs in the southern half of England. The estate comprised well-sited properties which had been neglected in previous years in terms of both upkeep and management.

Buy -