M&A Deal Summary

Court Square Capital Partners and Ardian Acquire Chauvet

On November 1, 2023, private equity firms Court Square Capital Partners and Ardian acquired electrical equipment company Chauvet from Cortec Group

Acquisition Highlights
  • This is Court Square Capital Partners’ 2nd and Ardian’s 8th transaction in the Electrical Equipment sector.
  • This is Court Square Capital Partners’ 63rd and Ardian’s 64th transaction in the United States.
  • This is Court Square Capital Partners’ 1st and Ardian’s 3rd transaction in Florida.

M&A Deal Summary

Date 2023-11-01
Target Chauvet
Sector Electrical Equipment
Buyer(s) Court Square Capital Partners
Ardian
Sellers(s) Cortec Group
Deal Type Secondary Buyout
Advisor(s) Piper Sandler & Co.
KPMG Corporate Finance (Financial)
Jones Day (Legal)

Target

Chauvet

Davie, Florida, United States
Chauvet is a developer and marketer of branded entertainment and architectural lighting products, trussing, controllers and related equipment used in applications ranging from DJ, club, corporate events, hospitality venues, and houses of worship, to more demanding settings including concert tours, theaters, television and “architainment.” Chauvet was founded in 1990 and is based in Davie, Florida.

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Buyer(S) 2

Buyer

Court Square Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Court Square Capital Partners (CSCP) is a generalist private equity firm that seeks middle market company investments across the US. CSCP looks to partner with management teams to accelerate revenue growth and improve operating efficiency. Sectors of interest include business services, building products, chemicals, consumer products, food products/services, healthcare, aerospace/defense, manufacturing, media, technology, telecommunications, and transportation. Court Square Capital Partners was formerly known as Citigroup Venture Capital Equity Partners. The Group spun out of Citigroup and became independent in 2006. CSCP is based in New York City.


DEAL STATS #
Overall 66 of 69
Sector: Electrical Equipment M&A 2 of 2
Type: Secondary Buyout M&A Deals 30 of 33
State: Florida M&A 1 of 1
Country: United States M&A 63 of 66
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 Five Star Parks & Attractions

Branson, Missouri, United States

Five Star Parks & Attractions is an operator of a platform created to partner with and invest in family entertainment centers (FECs), instituting positive changes aimed at creating superior entertainment experiences for families. Five Star Parks & Attractions was founded in 2021 and is based in Branson, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-07 Velosio

Dublin, Ohio, United States

Velosio delivers fresh ideas and unmatched know-how for cloud, ERP, CRM, business intelligence, office automation, and other business solutions. Velosio was founded in 1991 and is based in Dublin, Ohio.

Buy -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €1 billion per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.


DEAL STATS #
Overall 436 of 464
Sector: Electrical Equipment M&A 8 of 8
Type: Secondary Buyout M&A Deals 140 of 155
State: Florida M&A 3 of 3
Country: United States M&A 64 of 70
Year: 2023 M&A 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-16 Hawk

Paris, France

Hawk is a provider in the real-time purchase of mobile advertising space (known as programmatic buying or real-time bidding). Hawk offers media agencies and advertisers an integrated solution that allows them to manage all their purchasing and distribution processes for mobile advertising campaigns in real-time, maximizing their return on investment across all mobile devices. Hawk was founded in 2013 and is based in Paris, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-08 Parnasse Education

Paris, France

Parnasse Education is an education group of excellence specialized in the success of the transition to higher education and the preparation of post-baccalaureate entrance exams or entrance to Grande Ecole through parallel admissions. Parnasse Education is based in Paris, France.

Buy -

Seller(S) 1

SELLER

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 35 of 35
Sector: Electrical Equipment M&A 2 of 2
Type: Secondary Buyout M&A Deals 22 of 22
State: Florida M&A 4 of 4
Country: United States M&A 34 of 34
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-31 Harmar

Sarasota, Florida, United States

Harmar is a designer, manufacturer, and marketer of mobility and accessibility solutions for individuals who use power wheelchairs/scooters or are otherwise mobility impaired. Harmar was founded in 1998 and is based in Sarasota, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-21 Duggal Visual Solutions

New York, New York, United States

Duggal Visual Solutions is a provider of printed visuals, custom displays and multimedia solutions. Duggal Visual Solutions is based in New York, New York.

Buy -