M&A Deal Summary

Five Arrows, CD&R and Cobepa SA Acquire SOCOTEC

On February 7, 2013, private equity firms Five Arrows, CD&R and Cobepa SA acquired business services company SOCOTEC from Ardian, Qualium Investissement and CAPZA

Acquisition Highlights
  • This is Five Arrows’ 1st, CD&R’s 3rd and Cobepa SA’s 4th transaction in the Business Services sector.
  • This is Five Arrows’ 9th, CD&R’s 3rd and Cobepa SA’s 4th transaction in France.

M&A Deal Summary
Date 2013-02-07
Target SOCOTEC
Sector Business Services
Buyer(s) Five Arrows
CD&R
Cobepa SA
Sellers(s) Ardian
Qualium Investissement
CAPZA
Deal Type Secondary Buyout

Target

SOCOTEC

Guyancourt, France
SOCOTEC is a provider of inspection and risk management services in the fields of quality, health, safety and environment. Socotec has gradually and successfully diversified its product offering and is today present in a wide range of TIC ('Testing, Inspection and Certification') segments, focussing on asset preservation: equipment inspection, real estate diagnostics and testing and inspection within the Energy sector (notably Nuclear and Oil & Gas). SOCOTEC was founded in 1953 and is based in Guyancourt, France.

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Buyer(S) 3

Buyer

Five Arrows

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.

DEAL STATS #
Overall 12 of 55
Sector (Business Services) 1 of 3
Type (Secondary Buyout) 7 of 33
Country (France) 9 of 19
Year (2013) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-13 Paprec

Paris, France

Paprec operates as a waste recycling company. Paprec is based in Paris, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-01 RLDatix

Chicago, Illinois, United States

RLDatix is a specialty healthcare governance, risk, compliance (GRC), and workforce management software provider. RLDatix’s suite of cloud-based software solutions enable customers to address daily GRC functions through its interconnected modular solutions, including incident and regulatory management, risk and compliance management, contract management, workforce management and vendor credentialing. RLDatix was founded in 1986 and is based in Chicago, Illinois.

Buy -
Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 32 of 92
Sector (Business Services) 3 of 10
Type (Secondary Buyout) 7 of 26
Country (France) 3 of 5
Year (2013) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-01 Cornerstone Building Brands

Cary, North Carolina, United States

Cornerstone Building Brands is an integrated manufacturer of metal products for the nonresidential building industry. Cornerstone Building Brands was formed in 1984 and is based in Cary, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-14 AssuraMed

Twinsburg, Ohio, United States

AssuraMed, previously known as HGI Holding, Inc., is a leading mail-order, direct-to-consumer provider of disposable medical products to chronic disease patients. AssuraMed operates through its Edgepark Medical Supplies and Independence Medical divisions, offering its large and fragmented customer base more than 30,000 products addressing a diverse set of chronic disease market segments including ostomy, diabetes, urological, enteral, incontinence and wound care.

Sell $2.0B
Buyer

Cobepa SA

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1957
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Cobepa S.A. is a global investment group focused on growth capital investments (acquiring significant minority stakes) and leveraged buyout transactions. Cobepa invests in established companies with business models, sustainable market positions, and strong management teams. Sectors of interest include transportation, industrial, retail, financial services, and business services. The Firm generally pursues opportunities throughout Europe and North America, however Cobepa also targets opportunities in Asia and South America. Cobepa was originally established in 1957 and is headquartered in Brussels, Belgium

DEAL STATS #
Overall 19 of 38
Sector (Business Services) 4 of 6
Type (Secondary Buyout) 4 of 16
Country (France) 4 of 11
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Van Oord

Rotterdam, Netherlands

Van Oord is an international contractor specialising in dredging, marine engineering and offshore projects (oil, gas and wind). Van Oord was founded in 1868 and is based in Rotterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-30 Babilou

Bois Colombes, France

Babilou is a provider of daycare services. Serving children under the age of three, Babilou primarily runs company-owned and operated nurseries serving corporate clients and municipalities, as well as a booking platform offering access to daycare spots at partner nurseries. Babilou has also expanded internationally and now operates more than 550 nurseries in France, Germany, Belgium, Dubai, and Switzerland. Babilou was founded in 2003 and is based in Bois Colombes, France.

Buy -

Seller(S) 3

SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 63 of 222
Sector (Business Services) 6 of 18
Type (Secondary Buyout) 24 of 89
Country (France) 32 of 106
Year (2013) 3 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-18 GOTO Software SA

Hem, France

GOTO Software is a publisher of Internet software for both private and business customers. The company grew strongly, thanks to its anti-spam Vaderetro as well as to its Sarbacane emailing solution.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-07 Dreams

High Wycombe, United Kingdom

Dreams is a bed and mattress specialist retailer. Dreams offer a broad selection of the latest products in the bedding segment. Dreams’ product offering includes mattresses, divans, bed frames, headboards, in addition to a select range of furniture products and associated bedding. Dreams was founded in 1985 and is based in High Wycombe, United Kingdom.

Sell -
SELLER

Qualium Investissement

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Qualium Investissement is a large private equity firm focused on acquiring and investing in French companies. The Firm does not have any sector preferences and prefers buyouts of family-owned or closely held companies that are seeking a change of ownership. Qualium's looks to invest €20 to €75 million in transactions valued up to €250 million. Qualium Investissement is based in Paris.

DEAL STATS #
Overall 17 of 38
Sector (Business Services) 1 of 2
Type (Secondary Buyout) 12 of 26
Country (France) 15 of 36
Year (2013) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-31 Kermel

Colmar, France

Kermel is a manufacturer of meta-aramid fibre for protective clothing and industrial applications. Kermel fibre is used for protective clothing. The company is a manufacturer of aramid fibre dedicated to heat resistant protective clothing. Kermel was founded in 1992 and is based in Colmar, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-11 Artesys International SA

Rennes, France

Artesys International SA is a French engineering document control software provider and applications supporting the efficient and safe operation of processing plants and is used by over 8,000 engineering and maintenance professionals to locate validated plant documents and data.

Sell €2M
SELLER

CAPZA

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 9.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CAPZA is a provider of equity and junior capital to small and medium-sized unlisted French companies. CAPZA does not have any sector preferences and looks to invest in companies valued from €20 to €400 million. CAPZA was formed in 2004 and is based in Paris.

DEAL STATS #
Overall 14 of 48
Sector (Business Services) 3 of 4
Type (Secondary Buyout) 10 of 32
Country (France) 14 of 45
Year (2013) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-30 Linxis Group

Nantes, France

Linxis Group is a manufacturer of industrial equipment for the production of food, pharmaceutical, and cosmetic products. Linxis Group consists of six companies within their respective markets, designing, engineering, manufacturing, and installing equipment for food, cosmetics, and pharmaceutical production lines. Linxis Group was founded in 1988 and is based in Nantes, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-06 Flexitallic Group

Paris, France

Flexitallic Group is a specialized sealing solutions and products serving the oil and gas, power generation, chemical and petrochemical industries in emerging and developed markets. Focused on the upstream, downstream and power generation sectors. Flexitallic Group was founded in 1912 and is based in Paris, France.

Sell €450M
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