M&A Deal Summary

HgCapital and PAI Partners Acquire Azets

On October 12, 2016, private equity firms HgCapital and PAI Partners acquired business services company Azets

Acquisition Highlights
  • This is HgCapital’s 10th and PAI Partners’ 4th transaction in the Business Services sector.
  • This is HgCapital’s 49th and PAI Partners’ 8th transaction in the United Kingdom.

M&A Deal Summary
Date 2016-10-12
Target Azets
Sector Business Services
Buyer(s) HgCapital
PAI Partners
Deal Type Consolidation

Target

Azets

London, United Kingdom
Azets is an international accounting, tax, audit, advisory and business services group supporting entrepreneurial businesses and their owners and managers in achieving long term, sustainable success through the provision of critical business support, BPO and advisory services. Azets was founded in 2016 and is based in London, United Kingdom.

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Buyer(S) 2

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.

DEAL STATS #
Overall 91 of 152
Sector (Business Services) 10 of 14
Type (Consolidation) 1 of 4
Country (United Kingdom) 49 of 59
Year (2016) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-19 P&I

Wiesbaden, Germany

P&I is an internationally operating, full suite provider of cloud-based HR software solutions and a driver of innovation in HR technology. P&I’s scalable subscription-based platform exhibits characteristics that resonate with Hg Saturn’s core focus, with a broad, diversified and loyal customer base, and has delivered an exceptional historical operating performance. P&I was founded in 1968 and is based in Wiesbaden, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-08 Evaluate

London, United Kingdom

Evaluate is a provider of commercial intelligence to the global life sciences industry. Evaluate is the trusted provider of mission critical commercial information for complex business decisions to the pharmaceutical industry. Evaluate’s core product is an industry leading set of analyst consensus forecasts that provides detailed insights at the product, disease, indication and geographic level. Evaluate creates value by structuring, normalising and integrating data from company filings, research organisations, and government bodies and providing tools that drive analytical insights from data. Evaluate was the first mover in this particular space and is a leading provider today. Evaluate was founded in 1996 and is based in London, United Kingdom.

Buy -
Buyer

PAI Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.

DEAL STATS #
Overall 53 of 92
Sector (Business Services) 4 of 7
Type (Consolidation) 1 of 1
Country (United Kingdom) 8 of 15
Year (2016) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-05 R&R Ice Cream

Northallerton, United Kingdom

R&R Ice Cream Plc is a producer and supplier of own-label ice cream with a strong branded portfolio including Nestlé, Skinny Cow, YooMoo frozen yogurt, Kelly's of Cornwall and Disney.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 The Xella Group

Duisburg, Germany

The Xella Group is an international solution providers in the field of building and insulation materials. Xella is the parent company of such well-known brands as Ytong, Silka, Hebel, and Multipor, and is one of the pioneers in digitally supported construction processes with its digital planning service blue.sprint.

Sell -
Mergr

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