M&A Deal Summary

CVC Capital Partners and Nordic Capital Acquire Cary Group

On October 18, 2022, private equity firms CVC Capital Partners and Nordic Capital acquired automotive company Cary Group

Acquisition Highlights
  • This is CVC Capital Partners’ 4th and Nordic Capital’s 5th transaction in the Automotive sector.
  • This is CVC Capital Partners’ 6th and Nordic Capital’s 54th transaction in Sweden.

M&A Deal Summary

Date 2022-10-18
Target Cary Group
Sector Automotive
Buyer(s) CVC Capital Partners
Nordic Capital
Deal Type Going Private

Target

Cary Group

Stockholm, Sweden
Cary Group provides repair and replacement services to automotive glasses. Cary Group was formed in 1947 and is based in Stockholm, Sweden.

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Buyer(S) 2

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 312 of 323
Sector (Automotive) 4 of 4
Type (Going Private) 14 of 14
Country (Sweden) 6 of 6
Year (2022) 14 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-15 Phuong Chau International Hospital

Can Tho, Vietnam

Phuong Chau International Hospital is a hospital group in the Mekong Delta region, focusing on obstetrics, gynaecology and paediatrics. Phuong Chau International Hospital was founded in 2011 and is based in Can Tho, Vietnam.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-21 Gridspertise

Rome, Italy

Gridspertise offers grid intelligent devices, end-to-end cloud-edge platform solutions, and services to accelerate the digital transformation of electricity distribution grids across three main areas: metering and grid edge digitalization, network infrastructure digitalization, and field operation digitalization. Gridspertise was formed in 2021 and is based in Rome, Italy.

Buy -
Buyer

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 31.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 127 of 140
Sector (Automotive) 5 of 6
Type (Going Private) 7 of 7
Country (Sweden) 54 of 59
Year (2022) 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-07 Equashield

Port Washington, New York, United States

Equashield is a global provider of closed system transfer devices (CSTDs) designed to protect healthcare professionals from exposure to hazardous drugs. Equashield’s product offerings are based on proprietary technologies spanning both manual CSTDs and novel automated compounding solutions – including a next-generation automated compounding system utilising artificial intelligence to deliver superior performance. Equashield was founded in 2009 and is based in Port Washington, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-31 Binding Site

Birmingham, United Kingdom

Binding Site is a specialist protein company committed to the research, development, manufacture and distribution of innovative immunodiagnostic assays for the global laboratory market. Binding Site was founded in 1983 and is based in Birmingham, United Kingdom.

Sell £2.3B