Secondary Buyout • Machinery

CVC Capital Partners Acquires Hozelock

On November 1, 1999, private equity firm CVC Capital Partners acquired machinery company Hozelock from Cinven for 85M GBP

Acquisition Context
  • This is CVC Capital Partners’ 2nd transaction in the Machinery sector.
  • This is CVC Capital Partners’ 56th largest (disclosed) transaction.
  • This is CVC Capital Partners’ 19th transaction in the United Kingdom.
Investment Fate
  • Hozelock was sold to a publicly-traded strategic buyer in 2012 for 200M GBP.

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M&A Deal Summary

Date November 1, 1999
Target Hozelock
Sector Machinery
Buyer(s) CVC Capital Partners
Sellers(s) Cinven
Deal Type Secondary Buyout
Deal Value 85M GBP

Target Company

Hozelock

Birmingham, United Kingdom
Hozelock Ltd. is a designer, manufacturer and marketer of garden equipment for domestic use. This included garden watering equipment, garden sprayers, pond equipment, garden lighting and indoor and outdoor clothes drying equipment.
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Buyer Overview 1

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 Context for Buyer #
Overall 44 of 329
Sector: Machinery 2 of 2
Type: Secondary Buyout 2 of 78
Country: United Kingdom 19 of 61
Year: 1999 8 of 9
Size (of disclosed) 56 of 59
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-01 Grupo Itevelesa

Madrid, Spain

Grupo Itevelesa is an independent company of technical inspection of vehicles. operates 72 fixed locations and 20 mobile units across 11 autonomous communities; it also provides industrial safety, metrology, and environmental inspection services. Grupo Itevelesa was founded in 1982 and is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-01 Hoogenbosch Retail Group BV

Hertogenbosch, Netherlands

Hoogenbosch is one of the largest shoe retailers in Europe, headquartered in Den Bosch, Netherlands. The company has five types of retail outlets which sell fine quality footwear, including brands such as Dolcis, Invito, Manfield, Pro-Sport and Olympia Sports. Its main markets are the Netherlands, Belgium and Germany. The company owns over 240 retail outlets and has 3,500 employees in the aforementioned three countries.

Sell -

Seller Profile 1

SELLER

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 Context for Seller #
Overall 50 of 130
Sector: Machinery 1 of 2
Type: Secondary Buyout 3 of 31
Country: United Kingdom 41 of 73
Year: 1999 4 of 6
Size (of disclosed) 22 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-28 Corgi Classics Holdings

Leicester, Massachusetts, United States

Corgi Classics Holdings develops and markets high-quality lines of die-cast collectible products sold through retail channels in Europe, Canada, Mexico, the United States and elsewhere. Corgi Classics Holdings was founded in 1995 and is based in Leicester, Massachusetts.

Sell $46M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-12-01 Hoogenbosch Retail Group BV

Hertogenbosch, Netherlands

Hoogenbosch is one of the largest shoe retailers in Europe, headquartered in Den Bosch, Netherlands. The company has five types of retail outlets which sell fine quality footwear, including brands such as Dolcis, Invito, Manfield, Pro-Sport and Olympia Sports. Its main markets are the Netherlands, Belgium and Germany. The company owns over 240 retail outlets and has 3,500 employees in the aforementioned three countries.

Sell -