M&A Deal Summary

AAC Capital UK and Dunedin Acquire The Jessop Group

On October 1, 2002, private equity firms AAC Capital UK and Dunedin acquired retailer The Jessop Group from Silverfleet Capital for 147M GBP

Acquisition Highlights
  • This is AAC Capital UK’s 1st and Dunedin’s 1st transaction in the Retail sector.
  • This is AAC Capital UK’s 2nd and Dunedin’s largest (disclosed) transaction.
  • This is AAC Capital UK’s 7th and Dunedin’s 13th transaction in the United Kingdom.
Investment Fate
  • The Jessop Group went public in 2004.

M&A Deal Summary
Date 2002-10-01
Target The Jessop Group
Sector Retail
Buyer(s) AAC Capital UK
Dunedin
Sellers(s) Silverfleet Capital
Deal Type Secondary Buyout
Deal Value 147M GBP

Target

The Jessop Group

Leicester, United Kingdom
The Jessop Group Ltd. is a provider of digital photography products.

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Buyer(S) 2

Buyer

AAC Capital UK

London, United Kingdom
Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

AAC Capital UK is a mid-market Private equity buyout firm focuses on the niche companies in the Industrial, Business Services and Consumer sectors. AAC Capital UK formerly known as the UK team of ABN AMRO Capital. The firm looks to invest in profitable, cash-generative companies whose principal operations are in the UK. AAC Capital UK LLP is a private equity arm of AAC Capital partners. AAC Capital UK was formed in 2011 and is based in UK.

DEAL STATS #
Overall 7 of 22
Sector (Retail) 1 of 2
Type (Secondary Buyout) 1 of 9
Country (United Kingdom) 7 of 19
Year (2002) 3 of 3
Size (of disclosed) 2 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-08-01 Condor Group

Poole, United Kingdom

Condor Group Ltd. is an operator of lifeline freight and passenger ferry services. Each year, Condor Ferries carries approximately 1 million passengers, 200,000 passenger vehicles, and over 900,000 freight lane meters between Guernsey, Jersey, the United Kingdom, and the Port of St. Malo in France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Global Garden Products

Castelfranco Veneto, Italy

Global Garden Products provides a powered garden equipment market leader with a particularly strong position in Italy, Scandinavia and the UK. Global Garden Products was founded in 2000 and is based in Castelfranco Veneto, Italy.

Buy €480M
Buyer

Dunedin

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 400M GBP
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Dunedin is a middle-market private equity firm focused on investments in the UK. Dunedin looks to invest in businesses with proven management, strong market positions/brands, positive cash-flow, significant barriers to entry, and strong opportunities for growth. Dunedin seeks businesses valued from £20 to £100 million. Targeted sectors include construction, building materials, consumer products/services, financial services, healthcare, leisure, specialist manufacturing, and support services. Dunedin was formed in 1996 and is based in Edinburgh with an additional office in London.

DEAL STATS #
Overall 13 of 50
Sector (Retail) 1 of 1
Type (Secondary Buyout) 1 of 12
Country (United Kingdom) 13 of 47
Year (2002) 1 of 2
Size (of disclosed) 1 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-01-01 Interactive Record Management

Wallington, United Kingdom

Interactive Record Management is a provider of record management and file audit services for the corporate and public agencies.

Buy £9M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-11-30 Buildspan

Camberley, United Kingdom

Buildspan is a wholesaler offering more than 300 building product for the reinforced concrete markets and civil engineering companies and contractors.

Buy -

Seller(S) 1

SELLER

Silverfleet Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 2.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Silverfleet Capital is an independent private equity firm that invests in market leading businesses in growing sectors. Silverfleet looks to acquire companies headquartered in Western Europe or US-based businesses with a substantial European presence. Target companies are typically valued between €75 and €500 million and operate in sectors spanning business and financial services, healthcare, leisure, and retail/consumer. Silverfleet Capital was formerly known as PPM Capital, operating under Prudential plc. Silverfleet has offices in London, Paris, Munich, and Chicago.

DEAL STATS #
Overall 5 of 42
Sector (Retail) 1 of 5
Type (Secondary Buyout) 4 of 24
Country (United Kingdom) 4 of 18
Year (2002) 2 of 2
Size (of disclosed) 18 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-01 JOA

Lyon, France

JOA is a casino operators in France with a national network of 32 medium-sized casinos and an online sports betting platform. JOA was founded in 1948 and is based in Lyon, France.

Sell €402M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-07 Gala Coral Group

Essex, United Kingdom

Gala Coral Group Ltd. is a fast growing UK retail gaming company, Gala operates successfully in the UK bingo casino, licensed betting offices and multimedia gaming markets. It is by some margin the largest bingo operator in the UK.

Sell £1.2B
Mergr

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