M&A Deal Summary

TDR Capital and I Squared Capital Acquire Aggreko

On August 16, 2021, private equity firm TDR Capital and infrastructure investor I Squared Capital acquired test/measurement equipment company Aggreko for 2.3B GBP

Acquisition Highlights
  • This is TDR Capital’s 1st and I Squared Capital’s 1st transaction in the Test/Measurement Equipment sector.
  • This is TDR Capital’s 3rd and I Squared Capital’s largest (disclosed) transaction.
  • This is TDR Capital’s 15th and I Squared Capital’s 2nd transaction in the United Kingdom.

M&A Deal Summary
Date 2021-08-16
Target Aggreko
Sector Test/Measurement Equipment
Buyer(s) TDR Capital
I Squared Capital
Deal Type Going Private
Deal Value 2.3B GBP

Target

Aggreko

Dumbarton, United Kingdom
Aggreko is a global provider of mobile modular power, temperature control and energy services, including micro grids and remote monitoring, to commercial and industrial customers serving multiple end markets across operations in 80 countries. Aggreko was founded in 1962 and is based in Dumbarton, United Kingdom.

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Buyer(S) 2

Buyer

TDR Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 15.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

TDR Capital is a private equity firm that targets large companies valued from €300 million to €1.5 billion. TDR has a particular interest in under-managed, under-invested or misunderstood companies which may be transformed through greater strategic and operational focus. TDR is sector agnostic, however the Firm has a preference for opportunities in the leisure/hospitality, financial services, and business services sectors. TDR Capital was formed in 2002 and is based in London.

DEAL STATS #
Overall 27 of 31
Sector (Test/Measurement Equipment) 1 of 1
Type (Going Private) 6 of 7
Country (United Kingdom) 15 of 18
Year (2021) 2 of 3
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-27 Modulaire Group

London, United Kingdom

Modulaire Group creates smart spaces for people to live, work, and learn. Modulaire Group has operations in 25 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. Modulaire Group operates as Algeco in Europe and Scandinavia, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels, and BUKO Bouwsystemen in The Netherlands, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China. Modulaire Group is based in London, United Kingdom.

Sell $5.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Arrow Global Group

Manchester, United Kingdom

Arrow Global Group provides debt purchase and receivables management solutions in the United Kingdom. Arrow Global Group was founded in 2005 and is based in Manchester, the United Kingdom.

Buy £563M
Buyer

I Squared Capital

Investor Investor Investor

Category Infrastructure
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

I Squared Capital is a global infrastructure investment manager focusing on energy, utilities, and transportation assets in North America, Europe, and select high growth economies. I Squared Capital was established in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 19 of 26
Sector (Test/Measurement Equipment) 1 of 1
Type (Going Private) 2 of 2
Country (United Kingdom) 2 of 3
Year (2021) 5 of 6
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-02 KIO Networks

Mexico

KIO Networks is a specialized digital infrastructure company providing infrastructure-related services through a robust and extensive platform of data centers. The company also offers managed services for Cloud, cybersecurity, and business applications. KIO Networks was founded in 2002 and is based in Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-06 SOILCO

Kembla Grange, Australia

SOILCO designs build and operate organics recycling facilities with processing capabilities new to the Australian composting industry. SOILCO enables the circular economy by diverting valuable food, garden and wood waste away from landfills and manufacturing quality-assured, regenerative soil health products. SOILCO is based in Kembla Grange, Australia.

Buy -
Mergr

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