M&A Deal Summary

Florac and Altas Partners Acquire PADI

On June 28, 2017, family office Florac and private equity firm Altas Partners acquired education company PADI from Lincolnshire Management and Providence Equity Partners

Acquisition Highlights
  • This is Florac’s 1st and Altas Partners’ 2nd transaction in the Education sector.
  • This is Florac’s 2nd and Altas Partners’ 4th transaction in the United States.
  • This is Florac’s 1st and Altas Partners’ 1st transaction in California.

M&A Deal Summary
Date 2017-06-28
Target PADI
Sector Education
Buyer(s) Florac
Altas Partners
Sellers(s) Lincolnshire Management
Providence Equity Partners
Deal Type Secondary Buyout

Target

PADI

Rancho Santa Margarita, California, United States
PADI (Professional Association of Diving Instructors) is a scuba diving certification, training and publishing company, serving diving instructors, retailers and individual scuba divers. PADI was founded in 1966 and is based in Rancho Santa Margarita, California.

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Buyer(S) 2

Buyer

Florac

Investor Investor Investor Investor Investor

Category Family Office
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Florac is a family office focused on a variety of investments and acquisitions across the US and Western Europe (France, Belgium, Italy and Switzerland). Florac looks to commit €20 to €100 million per transaction to support a variety of transaction situations, including growth capital financings, recapitalizations, and buyouts. Florac does not have sector preferences and generally pursues indefinite investment time horizons. Florac was established in 2009 and is headquartered in Paris, France.

DEAL STATS #
Overall 9 of 24
Sector (Education) 1 of 2
Type (Secondary Buyout) 2 of 2
State (California) 1 of 4
Country (United States) 2 of 8
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Grandi Stazioni Retail

Rome, Italy

Grandi Stazioni Retail is a management of commercial leasing and advertising spaces of 14 Italian railway stations. Grandi Stazioni Retail was founded in 2016 and is based in Rome, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-01 Les Domaines de Fontenille

Paris, France

Les Domaines de Fontenille is a collection of boutique hotels that currently owns and operates a hotel in Provence (Domaine de Fontenille, 19 rooms, 35h of vineyards) and a hotel in Marseille (Les Bords de Mer, 19 rooms). Les Domaines de Fontenille was founded in 2015 and is based in Paris, France.

Buy -
Buyer

Altas Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2012
PE ASSETS 10.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Partners LP is a Canadian private equity firm focused on acquiring controlling stakes in 'high-quality, market-leading' businesses. Atlas Partners does not have any sector preferences and generally pursues companies with strong management, stable cash-flows, and minimal risk of disintermediation. The Firm's target investment size is $100 to $500 million. Atlas Partners LP was formed in 2012 and is based in Toronto.

DEAL STATS #
Overall 5 of 10
Sector (Education) 2 of 3
Type (Secondary Buyout) 3 of 6
State (California) 1 of 2
Country (United States) 4 of 9
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-08 Medforth Global Healthcare

New York, New York, United States

Medforth Global Healthcare is a provider of health sciences education. Medforth Global Healthcare is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-29 Tecta America

Rosemont, Illinois, United States

Tecta America is a provider of commercial roofing services offering installation, replacement, and repair services. It services both local and national accounts across a spectrum of industries and end-markets including industrial, retail / office, non-government institutional, government, multi-family and other. Tecta America was founded in 2000 and is based in Rosemont, Illinois.

Buy -

Seller(S) 2

SELLER

Lincolnshire Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Lincolnshire Management, Inc. (LMI) is a private equity firm focused on acquiring small and mid-sized companies in partnership with management. LMI typically targets companies with the majority of business conducted within the US. Prospective companies also have cash-flows of $5 to $50 million and significant opportunities for growth, either internally or through acquisitions. Target transaction situations include corporate divestitures, selling shareholders, and owners desiring liquidity. Lincolnshire Management was formed in 1986 and has office in New York City.

DEAL STATS #
Overall 16 of 23
Sector (Education) 1 of 1
Type (Secondary Buyout) 4 of 11
State (California) 3 of 3
Country (United States) 16 of 22
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-12 National Pen

San Diego, California, United States

National Pen Co. LLC is a manufacturer and marketer of custom writing instruments for small and medium businesses.

Sell $218M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-02 Fabbri Group

Vignola, Italy

Fabbri Group engages in design and manufacture of wrapping machines and films for the fresh food market. Fabbri Group products focused on stretch overwrap and modified atmosphere packaging technologies, are sold to food retailers, food processors, and distributors. Fabbri Group was founded in 1950 and is headquartered in Vignola, Italy.

Sell -
SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.

DEAL STATS #
Overall 64 of 100
Sector (Education) 5 of 7
Type (Secondary Buyout) 14 of 31
State (California) 5 of 7
Country (United States) 43 of 68
Year (2017) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-20 Major League Soccer

New York, New York, United States

Major League Soccer is an exclusive national media, marketing, and sponsorship business of Major League Soccer.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-18 Leap Event Technology

Wexford, Pennsylvania, United States

Leap Event Technology is a provider of technology solutions for arts and culture organizations. Leap Event Technology’s mission is to revolutionize the ticketing industry by providing arts, culture, and live entertainment organizations with integrated world-class customer relationship management, box office ticketing, fundraising, and marketing solutions. Patron Technology was founded in 2001 and is based in Wexford, Pennsylvania.

Buy -
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