M&A Deal Summary

IK Partners, European Capital and BNP Paribas Developpement Acquire Unipex Group

On October 18, 2012, private equity firm IK Partners, private equity firm European Capital and growth capital firm BNP Paribas Developpement acquired chemicals company Unipex Group from Ardian and European Capital for 20M EUR

Acquisition Highlights
  • This is IK Partners’ 5th, European Capital’s 6th and BNP Paribas Developpement’s 1st transaction in the Chemicals sector.
  • This is IK Partners’ 7th, European Capital’s 31st and BNP Paribas Developpement’s largest (disclosed) transaction.
  • This is IK Partners’ 12th, European Capital’s 30th and BNP Paribas Developpement’s 2nd transaction in France.

M&A Deal Summary
Date 2012-10-18
Target Unipex Group
Sector Chemicals
Buyer(s) IK Partners
European Capital
BNP Paribas Developpement
Sellers(s) Ardian
European Capital
Deal Type Secondary Buyout
Deal Value 20M EUR

Target

Unipex Group

Paris, France
Unipex Group is a developer, manufacturer, and marketer of more than 2000 value-added products for the cosmetics, pharmaceutical, chemical and nutrition industries, Its ‘Active Ingredients and Specialty Chemicals’ division develops and produces innovative active ingredients, in addition to distributing active ingredients and special chemicals on behalf of third parties. Unipex Group was founded in 1968 and is based in Paris, France.

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Buyer(S) 3

Buyer

IK Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 14.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Ik Investment Partners Ltd. (Formerly Industri Kapital) is a private equity firm that targets control investments in mid-sized manufacturing and service companies located in select European countries. IK focuses on growth businesses located in the Benelux region, as well as Denmark, Finland, France, Germany, Norway and Sweden. The firm looks to commit €50 to €150 million of equity capital per transaction and targets companies with 'a proven ability to generate significant cash flow' as well as an ability to 'sustain growth through various economic cycles'. IK Investment Partners was formerly known as Industry Kapital. IK Investment Partners was formed in 1989 and has offices in Hamburg, London, Paris, and Stockholm.

DEAL STATS #
Overall 82 of 183
Sector (Chemicals) 5 of 7
Type (Secondary Buyout) 19 of 72
Country (France) 12 of 45
Year (2012) 3 of 3
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-15 Vemedia

Kortrijk, Belgium

Vemedia is a producer and distributor of over the counter (OTC) drugs, food supplements and medical devices. Vemedia was established in 2002 and is headquartered in Kortrijk, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-20 Suomen Lähikauppa Oy

Helsinki, Finland

Suomen Lähikauppa (SLK) is the largest grocery store operator with two national retail chains: Siwa and Valintatalo.

Sell -
Buyer

European Capital

London, United Kingdom
Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.

DEAL STATS #
Overall 72 of 74
Sector (Chemicals) 6 of 7
Type (Secondary Buyout) 26 of 28
Country (France) 30 of 31
Year (2012) 2 of 2
Size (of disclosed) 31 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Fitness First Group

Dorset, United Kingdom

Fitness First Group Ltd. is a health club operator in the world with over one million members and over 400 clubs in 15 countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-22 Metall Technologie Holding

Menden, Germany

MTH is a leading provider of industrial heat treatment technology solutions, both for vacuum and atmospheric furnaces, in the Aerospace, Machine Tooling and Automotive industries, and has been developing well established industrial competences with a focus on energy efficiency and high-performance.

Sell -
Buyer

BNP Paribas Developpement

Investor

Category Growth Capital Firm
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

BNP Paribas Developpement is the growth-oriented development arm of financial services firm and bank BNP Paribas. BNP Paribas Developpement supports a range of lower middle-market companies and looks to invest in minority positions to support growth. BNP Paribas Developpement was formed in 1988 and is based in Paris, France.

DEAL STATS #
Overall 3 of 21
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 6
Country (France) 2 of 17
Year (2012) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-18 NOVARC

Malataverne, France

NOVARC is a provider of electrical safety equipment and maintenance products for the automotive sector. NOVARC was founded in 1993 and is based in Malataverne, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-08 Luminator

Plano, Texas, United States

Luminator is a provider of advanced information systems and LED displays and lighting products for a wide range of applications in metropolitan and commercial transportation systems, including systems for the rail, bus, and aerospace industries. Luminator was founded in 1928 and is based in Plano, Texas.

Buy -

Seller(S) 2

SELLER

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 58 of 222
Sector (Chemicals) 3 of 9
Type (Secondary Buyout) 22 of 89
Country (France) 29 of 106
Year (2012) 12 of 14
Size (of disclosed) 31 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-10 Insight Global

Atlanta, Georgia, United States

Insight Global is a provider of employment solutions to Fortune 500 customers across the United States and Canada. Insight Global provides long-term, short-term, temporary-to-permanent, placement staffing, and enhanced staffing services. Insight Global was founded in 2001 and is based in Atlanta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-24 lastminute.com

Amsterdam, Netherlands

lastminute.com is an online travel agency, or OTA. Its web and mobile platforms enable consumers to easily search for, compare and book flights with both traditional airlines and low cost carriers, as well as hotel accommodation, package holidays, cruises, rental cars and other travel-related products and services. lastminute.com group was founded in 2004 and is based in Amsterdam, Netherlands.

Buy -
SELLER

European Capital

London, United Kingdom
Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.

DEAL STATS #
Overall 25 of 54
Sector (Chemicals) 2 of 5
Type (Secondary Buyout) 11 of 24
Country (France) 8 of 19
Year (2012) 2 of 2
Size (of disclosed) 19 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Fitness First Group

Dorset, United Kingdom

Fitness First Group Ltd. is a health club operator in the world with over one million members and over 400 clubs in 15 countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-22 Metall Technologie Holding

Menden, Germany

MTH is a leading provider of industrial heat treatment technology solutions, both for vacuum and atmospheric furnaces, in the Aerospace, Machine Tooling and Automotive industries, and has been developing well established industrial competences with a focus on energy efficiency and high-performance.

Sell -
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