Secondary Buyout • Safety/Security

Hellman & Friedman and Bain Capital Private Equity Acquire Verisure

On June 24, 2011, private equity firms Hellman & Friedman and Bain Capital Private Equity acquired safety/security company Verisure from EQT for 2.1B SEK

Acquisition Context
  • This is Hellman & Friedman’s 1st and Bain Capital Private Equity’s 3rd transaction in the Safety/Security sector.
  • This is Hellman & Friedman’s 39th and Bain Capital Private Equity’s 71st largest (disclosed) transaction.
  • This is Hellman & Friedman’s 2nd and Bain Capital Private Equity’s 1st transaction in Switzerland.

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M&A Deal Summary

Date June 24, 2011
Target Verisure
Sector Safety/Security
Buyer(s) Hellman & Friedman
Bain Capital Private Equity
Sellers(s) EQT
Deal Type Secondary Buyout
Deal Value 2.1B SEK
Advisor(s) Kirkland & Ellis
Weil Gotshal & Manges (Legal)

Target Company

Verisure

Versoix, Switzerland
Verisure is a provider of monitored alarm and security services to residential homes and small businesses in Europe. Verisure serves subscribers across Europe, including Spain, Sweden, Norway and France, and Latin America. The Company ensures customer peace of mind by remotely monitoring properties 24 hours, 7 days a week and ensuring rapid response. Verisure was founded in 1988 and is based in Versoix, Switzerland.
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Buyers Overview 2

Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 115.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


Deal Context for Buyer #
Overall 46 of 90
Sector: Safety/Security 1 of 2
Type: Secondary Buyout 9 of 27
Country: Switzerland 2 of 2
Year: 2011 3 of 7
Size (of disclosed) 39 of 40
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Circana

Chicago, Illinois, United States

Circana is a provider of big data, predictive analytics and forward-looking insights that help CPG companies, OTC health care organizations, retailers, financial services and media companies grow their businesses. Circana was founded in 1979 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-29 Mondrian Investment Partners

Philadelphia, Pennsylvania, United States

Mondrian Investment Partners, Ltd., based in London, manages over $30 billion in international equity and fixed income, primarily for US institutional clients. Mondrian's value oriented investment process utilizes a dividend discount analysis that has produced an outstanding one, three, and five year track record. HFCP IV invested $125 million to assist management in buying control of Mondrian (formerly, Delaware International Advisors Limited) from its parent, Lincoln Financial Corporation, in September 2004.

Sell -
Buyer

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


Deal Context for Buyer #
Overall 88 of 253
Sector: Safety/Security 3 of 3
Type: Secondary Buyout 13 of 76
Country: Switzerland 1 of 2
Year: 2011 4 of 8
Size (of disclosed) 71 of 75
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-20 China Security Co.

Wuhan, China

China Security Co. is an industrial fire safety product manufacturer and solution provider in China. China Security was incorporated in 1987 and is based in Wuhan, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-11 Dunkin Brands Group

Canton, Massachusetts, United States

Dunkin' Brands Group, Inc. is a franchisors of quick service restaurants (QSR) serving hot and cold coffee and baked goods, as well as hard-serve ice cream. Dunkin' Brands Group was founded in 1961 and is based in Canton, Massachusetts

Sell -

Seller Profile 1

SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


Deal Context for Seller #
Overall 41 of 194
Sector: Safety/Security 2 of 2
Type: Secondary Buyout 13 of 61
Country: Switzerland 1 of 8
Year: 2011 2 of 5
Size (of disclosed) 36 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-30 Coromatic AB

Bromma, Sweden

Coromatic AB is a data center focused service company. Coromatic is active in IT data center design and build as well as selling Datacenter as a service, accompanied by services, maintenance and counseling. Coromatic AB was founded in 2008 and is based in Bromma, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-20 Atos Medical

Malmö, Sweden

Atos Medical is a medical device company with a global market and technology leading position in the segment for voice and pulmonary rehabilitation of patients who have undergone laryngectomy (surgical removal of the voice box). Atos Medical was formed in 1986 and is based in Malmö, Sweden.

Buy -