M&A Deal Summary

TPG and HSBC Capital Acquire Axcan Pharmaceuticals

On November 29, 2007, private equity firm TPG and HSBC Capital acquired life science company Axcan Pharmaceuticals for 1.3B USD

Acquisition Highlights
  • This is TPG’s 13th and HSBC Capital’s 1st transaction in the Life Science sector.
  • This is TPG’s 59th and HSBC Capital’s largest (disclosed) transaction.
  • This is TPG’s 1st and HSBC Capital’s 1st transaction in Canada.
  • This is TPG’s 1st and HSBC Capital’s 1st transaction in Quebec.

M&A Deal Summary
Date 2007-11-29
Target Axcan Pharmaceuticals
Sector Life Science
Buyer(s) TPG
HSBC Capital
Deal Type Going Private
Deal Value 1.3B USD

Target

Axcan Pharmaceuticals

Mont-Saint-Hilaire, Quebec, Canada
Specialty pharmaceutical company focused on development and commercialization of drugs for diseases of the digestive system.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 107 of 420
Sector (Life Science) 13 of 45
Type (Going Private) 18 of 36
State (Quebec) 1 of 4
Country (Canada) 1 of 7
Year (2007) 19 of 20
Size (of disclosed) 59 of 105
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-19 SuccessFactors

San Mateo, California, United States

SuccessFactors provides on-demand performance and talent management software that enables organizations to optimize the performance of its people. Its application suite includes various modules and capabilities, including performance management, goal management, compensation management, succession management, learning and development, recruiting management, analytics and reporting, employee profile, 360-degree review, employee survey, and proprietary and third-party content.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-03 Hanaro Telecom

South Korea

Hanaro Telecom provides telecommunications services and offers broadband Internet access, voice, leased line and IDC services in Korea. Hanaro's voice service comprises local, domestic long distance, international long distance and VoIP services.

Sell $1.2B
Buyer

HSBC Capital

New York, New York, United States
Category Private Equity Firm
Founded 1991
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HSBC Capital (North America) the US and Canada principal investments arm of HSBC. HSBC Capital consists of HSBC Capital Canada and HSBC Capital USA. The Group focuses on making private equity and mezzanine investments in profitable, mid-market companies and select real estate transactions. The Group will consider both control and minority positions. Investment proceeds are generally used to support buyouts, expansion financings, recapitalizations, and real estate acquisitions. In addition to targeting US based opportunities, the Group will also consider investments in Latin America. Broad sectors of interest include manufacturing, service, and distribution. HSBC Capital was formed in 1991 and is based in New York City, HSBC Capital has become Graycliff partners on Dec 2011.

DEAL STATS #
Overall 18 of 24
Sector (Life Science) 1 of 2
Type (Going Private) 2 of 2
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2007) 7 of 8
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-01 Living Earth

Dallas, Texas, United States

Living Earth is a manufacturer and provider of mulch, compost, and other landscaping materials in the State of Texas. The Company operates thirteen locations, primarily in the metropolitan areas of Dallas and Houston, selling to commercial contractors and nurseries. Living Earth was founded in 1985 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-31 Brooks Instrument

Hatfield, Pennsylvania, United States

Brooks provides flow measurement and control devices to the low flow application market, and principally serves the chemical and semiconductor industries.

Buy $100M
Mergr

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