M&A Deal Summary

CVC Capital Partners and ADIA Acquire Domestic & General

On December 13, 2013, private equity firm CVC Capital Partners and sovereign wealth fund ADIA acquired consumer services company Domestic & General from Advent International

Acquisition Highlights
  • This is CVC Capital Partners’ 5th and ADIA’s 1st transaction in the Consumer Services sector.
  • This is CVC Capital Partners’ 36th and ADIA’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2013-12-13
Target Domestic & General
Sector Consumer Services
Buyer(s) CVC Capital Partners
ADIA
Sellers(s) Advent International
Deal Type Secondary Buyout
Advisor(s) Jamieson Corporate Finance LLP (Financial)
Macfarlanes (Legal)

Target

Domestic & General

London, United Kingdom
Domestic & General is a specialist provider of extended warranty plans for domestic appliances and consumer electronic products. Domestic & General Group was formed in 1912 and is based in London, United Kingdom.

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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 159 of 323
Sector (Consumer Services) 5 of 10
Type (Secondary Buyout) 21 of 76
Country (United Kingdom) 36 of 60
Year (2013) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-06 Nine Entertainment

North Sydney, Australia

Nine Entertainment is an integrated media group with assets in free-to-air (FTA) TV, magazines, the internet and entertainment. The investment in more traditional media displays lower growth, yet the exposure to new media via the online investments provides good growth exposure. Nine Entertainment was founded in 1956 and is based in North Sydney, Australia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-10 EIC Education

Hong Kong, China

EIC Education is a provider of overseas education counselling services to students in China by number of contracts signed in 2014, with a national market share of 13%. The Company is also a major integrated overseas education advisory services provider in China, offering market leading complementary test preparation services as part of the wide range of integrated and complementary overseas education advisory services to students. EIC Education is based in Hong Kong, China.

Buy $200M
Buyer

ADIA

Category Sovereign Wealth Fund
Founded 1976
PE ASSETS 875.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 1 of 13
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 3
Country (United Kingdom) 1 of 2
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-02 Qlik

King of Prussia, Pennsylvania, United States

Qlik provides visual analytics software with a portfolio of products that meets customers’ growing needs from reporting and self-service visual analysis to guided, embedded, and custom analytics. It provides information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Qlik was founded in 1993 and is based in King of Prussia, Pennsylvania.

Buy $3.0B

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 136 of 222
Sector (Consumer Services) 3 of 4
Type (Secondary Buyout) 33 of 58
Country (United Kingdom) 18 of 28
Year (2013) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-18 Unit4

Sliedrecht, Netherlands

Unit4 is a global cloud-focused business software company aimed at helping dynamic public sector and commercial services organizations to embrace change simply, quickly and cost effectively in a market sector it calls 'Businesses Living IN Change' (BLINC)™. UNIT4 incorporates a number of the world’s leading change embracing software brands including Agresso, the flagship ERP suite for mid-sized services intensive organizations; Coda, the best-of-class financial management software; and FinancialForce.com, the cloud applications company formed with investment from Salesforce.com. Unit4 was founded in 1980 and is based in Sliedrecht, Netherlands.

Buy $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-13 ISIDA

Ukraine

ISIDA is a comprehensive obstetric and gynecological clinic that unites a hospital and three outpatient polyclinic centers. ISIDA clinics specialize in the treatment of infertility, obstetrics, gynecology, mammology, and pediatrics up to 18 years of age. ISIDA was founded in 1994 and is based in Ukraine.

Sell -
Mergr

Product

Company

Legal