Secondary Buyout • Information Technology

Equistone Acquires NCC Group

On April 11, 2003, private equity firm Equistone acquired information technology company NCC Group from ECI Partners for 30M GBP

Acquisition Context
  • This is Equistone’s 2nd transaction in the Information Technology sector.
  • This is Equistone’s 39th largest (disclosed) transaction.
  • This is Equistone’s 41st transaction in the United Kingdom.
Investment Fate
  • NCC Group went public in 2004.

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M&A Deal Summary

Date April 11, 2003
Target NCC Group
Sector Information Technology
Buyer(s) Equistone
Sellers(s) ECI Partners
Deal Type Secondary Buyout
Deal Value 30M GBP

Target Company

NCC Group

Manchester, United Kingdom
NCC Group is an information assurance specialist, passionate about changing the shape of the Internet and making it a safer place. Through an unrivalled range of services, it provides organisations with freedom from doubt that their most important assets are protected and operating as they should be at all times. NCC Group was founded in 1999 and is based in Manchester, England.
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Buyer Overview 1

Buyer

Equistone

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, United Kingdom.


Deal Context for Buyer #
Overall 73 of 252
Sector: Information Technology 2 of 6
Type: Secondary Buyout 3 of 83
Country: United Kingdom 41 of 101
Year: 2003 5 of 14
Size (of disclosed) 39 of 55
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-11 Groupe Sphère

France

SPhere (formerly SP Metal) is a European leader in the manufacture of refuse bags and other consumer products (eg freezer bags, food wrapping films, etc). Historically, the business has grown both organically and by acquisition since its inception in 1976, and is currently market leader in France, Spain and Benelux. It has a good reputation for technical and marketing innovation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-08 Frank Thomas Holdings

Higham Ferrers, United Kingdom

Frank Thomas is the UK?s leading branded motorcycle clothing designer and distributor.

Sell -

Seller Profile 1

SELLER

ECI Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 2.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

ECI Partners is a private equity firm focused on the smaller middle-market company that invests in growing businesses valued up to £300m. ECI looks for UK businesses or businesses with a substantial presence in the UK. Funds are generally used to support expansion, acquisitions, management buyouts, buy-ins, turnarounds, and refinancing. Target sectors include IT services, support services, Insurance, and SME services. ECI will not invest in early-stage companies. ECI Partners was formed in 1976 and has offices in London, Manchester, and New York.


Deal Context for Seller #
Overall 21 of 76
Sector: Information Technology 5 of 13
Type: Secondary Buyout 1 of 26
Country: United Kingdom 20 of 70
Year: 2003 2 of 4
Size (of disclosed) 24 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-26 Holiday Autos Group

Woking, United Kingdom

Holiday Autos Group Ltd. is a provider of holiday car rental business.

Sell £40M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-25 Lygon Holdings

Smethwick, United Kingdom

Lygon Holdings Ltd. is a distributor of fixings and related products to the construction industry. Unifix was the underlying dominant brand in this market.

Sell £6M