M&A Deal Summary

FUJIFILM Holdings Acquires Sericol

On January 19, 2005, FUJIFILM Holdings acquired consumer products company Sericol from Saratoga Partners and Intermediate Capital Group for 230M USD

Acquisition Highlights
  • This is FUJIFILM Holdings’ 1st transaction in the Consumer Products sector.
  • This is FUJIFILM Holdings’ 5th largest (disclosed) transaction.
  • This is FUJIFILM Holdings’ 1st transaction in the United States.
  • This is FUJIFILM Holdings’ 1st transaction in Kansas.

M&A Deal Summary
Date 2005-01-19
Target Sericol
Sector Consumer Products
Buyer(s) FUJIFILM Holdings
Sellers(s) Saratoga Partners
Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 230M USD

Target

Sericol

Kansas City, Kansas, United States
Sericol, Inc. is a global ink manufacturer and supplier focused on screen inks and related products.

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Buyer(S) 1

Buyer

FUJIFILM Holdings

Tokyo, Japan
Category Company
Founded 1934
Sector Electronics
Employees73,275
Revenue 2.96T JPY (2023)
DESCRIPTION

FUJIFILM Holdings is the holding company of the Fujifilm Group with three operating companies, FUJIFILM Corporation, Fuji Xerox Co., Ltd. and Toyama Chemical Co., Ltd. under its umbrella. Fujifilm develops products and services in fields ranging from film and photo-taking through to photo development and printing. FUJIFILM Holdings was founded in 1934 and is based in Tokyo, Japan.

DEAL STATS #
Overall 2 of 8
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 2 of 5
State (Kansas) 1 of 1
Country (United States) 1 of 6
Year (2005) 1 of 1
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-01-01 Black Photo

Toronto, Ontario, Canada

Black Photo Corp. is an online retailer of photography related products.

Buy $65M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-29 Black Photo

Toronto, Ontario, Canada

Black Photo Corp. is an online retailer of photography related products.

Sell -

Seller(S) 2

SELLER

Saratoga Partners

New York, New York, United States

Investor

Category Merchant Bank
Founded 1998
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Saratoga Partners is an independent private equity firm focused on investments in partnership with management in the manufacturing, business services and media and telecommunications industries. Saratoga pursues businesses valued from $50 to $400 million and generally acts as the lead investor. Target companies typically have leading market positions and operate in defensible niches with provide proprietary products. Prospective transaction situations include corporate buyouts, consolidations, and divestitures. Saratoga Partners dates back to 1984 and became independent in 1998. The Firm is based in New York City.

DEAL STATS #
Overall 8 of 16
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Kansas) 1 of 1
Country (United States) 8 of 16
Year (2005) 1 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-10 Advanced Lighting Technologies

Glenwillow, Ohio, United States

Advanced Lighting Technologies is an innovator and manufacturer of energy-efficient lighting materials and finished products. ADLT provides innovative lighting solutions to the growing global movement to decrease energy consumption. Advanced Lighting Technologies was founded in 1995 and is based in Glenwillow, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-05-23 NAT

Rosemont, Illinois, United States

NAT provides transaction processing software and services for administering warranty and service contracts for consumer products. Clients that use the company’s proprietary systems are leading providers of automotive, consumer retail, home warranty and service plans, and include three of the top 10 insurance companies, one of the top five automotive manufacturers and two major auto-glass service providers. Currently, NAT’s business is focused on automotive and retail extended warranty programs.

Sell -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 46 of 217
Sector (Consumer Products) 6 of 10
Type (Add-on Acquisition) 11 of 67
State (Kansas) 1 of 1
Country (United States) 1 of 13
Year (2005) 2 of 13
Size (of disclosed) 58 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Baxi Heating UK Limited

Warwick, United Kingdom

Baxi Heating UK Ltd. manufactures a range of domestic hot water and central heating boilers, radiators, gas fires and other associated heating products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 Saveur Group

France

SAVEUR is a French manufacturer of blended ingredients for the food industry.

Sell -
Mergr

Product

Company

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