M&A Deal Summary

General Atlantic and Oak Hill Capital Acquire Genpac

On November 8, 2004, growth capital firm General Atlantic and private equity firm Oak Hill Capital acquired business services company Genpac from General Electric for 800M USD

Acquisition Highlights
  • This is General Atlantic’s 8th and Oak Hill Capital’s 2nd transaction in the Business Services sector.
  • This is General Atlantic’s 11th and Oak Hill Capital’s 7th largest (disclosed) transaction.
  • This is General Atlantic’s 1st and Oak Hill Capital’s 1st transaction in Bermuda.
Investment Fate
  • Genpac went public in 2007.
  • Genpac was sold to a financial buyer in 2012.

M&A Deal Summary

Date 2004-11-08
Target Genpac
Sector Business Services
Buyer(s) General Atlantic
Oak Hill Capital
Sellers(s) General Electric
Deal Type Divestiture
Deal Value 800M USD

Target

Genpac

Hamilton, Bermuda
Genpact is a provider of business process outsourcing services. Genpact provides services through a global network of service centers. Genpact was founded in 1997 and is based in Hamilton, Bermuda.

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Buyer(S) 2

Buyer

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 105.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in New York, New York.


DEAL STATS #
Overall 30 of 364
Sector: Business Services M&A 8 of 23
Type: Divestiture M&A Deals 1 of 6
Country: Bermuda M&A 1 of 1
Year: 2004 M&A 6 of 6
Size (of disclosed) 11 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-05 Altair

Troy, Michigan, United States

Altair is a global technology company that provides software and cloud solutions in the areas of product development, high-performance computing, and data analytics. Altair was founded in 1985 and is based in Troy, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 GWI AG

Bonn, Germany

GWI AG is a technology organisation and market leader in the German-speaking area in Clinic Information Systems.

Buy -
Buyer

Oak Hill Capital

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 9.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Oak Hill Capital Partners was originally formed as the private equity investment vehicle for Robert Bass and in 1999, opened up to outside investors and raised its first private equity fund. Oak Hill looks to invest in middle-market companies and focuses its efforts within six industry groups. The six groups include basic industries; business and financial services; consumer, retail, and distribution; healthcare; media and telecom; and technology. Oak Hill targets businesses with defensible business models, strong market positions, and 'best-in-class' management. Oak Hill Capital was formed in 1986 and has offices in Stamford, Connecticut; Menlo Park, California; and New York City.


DEAL STATS #
Overall 18 of 80
Sector: Business Services M&A 2 of 7
Type: Divestiture M&A Deals 2 of 6
Country: Bermuda M&A 1 of 2
Year: 2004 M&A 5 of 5
Size (of disclosed) 7 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-08-02 Duane Reade

New York, New York, United States

Duane Reade, Inc. is a chain of pharmacy and convenience stores.

Buy $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-25 Butler Schein Health Supply

Dublin, Ohio, United States

Butler Schein Health Supply is a distributor of companion animal health products to veterinarians. Butler Schein Health Supply is based in Dublin, Ohio.

Buy -

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States

Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 38.7B USD (2024)
DESCRIPTION
General Electric office in Dubai, United Arab Emirates.
General Electric office in Dubai, United Arab Emirates.

General Electric is a diversified technology and financial services company. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 7 of 46
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 6 of 38
Country: Bermuda M&A 1 of 1
Year: 2004 M&A 2 of 2
Size (of disclosed) 11 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Wizard Home Loans Pty

Sydney, Australia

Wizard Home Loans Pty Ltd is a non-bank lender, offers mortgage loans in Australia and New Zealand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-15 Edwards Systems Technology

Cheshire, Connecticut, United States

Edwards Systems Technology is a provider of fire detection systems within buildings.

Buy $1.4B