Divestiture • Consumer Services

Investcorp and TPG Acquire Outcomes First Group

On December 12, 2023, asset manager Investcorp and private equity firm TPG acquired consumer services company Outcomes First Group from NFG

Acquisition Context
  • This is Investcorp’s 4th and TPG’s 9th transaction in the Consumer Services sector.
  • This is Investcorp’s 23rd and TPG’s 19th transaction in the United Kingdom.

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M&A Deal Summary

Date December 12, 2023
Target Outcomes First Group
Sector Consumer Services
Buyer(s) Investcorp
TPG
Sellers(s) NFG
Deal Type Divestiture

Target Company

Outcomes First Group

Bolton, United Kingdom
Outcomes First Group is a specialist provider of education and therapeutic care. The Group’s specialist education and therapeutic care services are provided by its nationwide teams, under the brands Acorn Education and Care and Options Autism. Outcomes First Group is based in Bolton, United Kingdom.
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Buyers Overview 2

Buyer

Investcorp

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 53.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Investcorp is a global investment group focused on a variety of investment disciplines. Practice areas include private equity in North America and Western Europe, hedge funds, US real estate, technology investments, and Middle Eastern private equity. Within North America/Europe private equity, Investcorp targets market leaders with proven track records. It looks to invest $15 to $50 million in companies with revenues of $10 to $250 million. Investcorp's technology group sponsors growth-oriented control investments in the tech sector. Investcorp's Middle East practice focuses on buyout/build opportunities in North Africa and the Gulf Region. Target sectors include services, infrastructure, manufacturing, and energy. Investcorp was formed in 1982 and is based in Manama, Bahrain.


Deal Context for Buyer #
Overall 183 of 189
Sector: Consumer Services 4 of 4
Type: Divestiture 16 of 17
Country: United Kingdom 23 of 24
Year: 2023 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-14 Georg Jensen

Frederiksberg, Denmark

Georg Jensen is a luxury brand that designs, manufactures and distributes jewellery, watches, fine silverware and high-end homeware. Georg Jensen was founded in 1904 and is based in Frederiksberg, Denmark.

Sell €152M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-14 Canpac Trends

Ahmedabad, India

Canpac is a folding carton packaging suppliers. Canpac has a manufacturing footprint and has the single location facility for both paper cartons and paper bags. Canpac serves customized and cost-efficient products to diverse industries such as innerwear, fashion & retail, packaged foods, quick service restaurants, industrial & others. Canpac Trends was founded in 2010 and is based in Ahmedabad, Gujarat.

Buy -
Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B 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 Context for Buyer #
Overall 430 of 454
Sector: Consumer Services 9 of 9
Type: Divestiture 37 of 41
Country: United Kingdom 19 of 20
Year: 2023 14 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-10 a&o hostel

Berlin, Germany

a&o hostel is the largest fully integrated, privately-owned budget hotel and hostel platform in Europe. a&o hostel was founded in 2000 and is based in Berlin, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Sayari

Washington, District of Columbia, United States

Sayari is a provider of financial intelligence and supply chain risk solutions. Sayari’s data intelligence platform powers the fight against global financial crime increases corporate transparency in high-risk places and supports critical national security mission sets. Sayari was founded in 2015 and is based in Washington DC.

Buy -

Seller Profile 1

SELLER

NFG

Bolton, United Kingdom

Category Company
Founded 1995
Sector Consumer Services
Revenue 60M GBP (2013)
DESCRIPTION

NFG is a provider of fostering and related support services foster carers, children, and young people. NFG was founded in 1995 and is based in Bolton, United Kingdom.


Deal Context for Seller #
Overall 1 of 1
Sector: Consumer Services 1 of 1
Type: Divestiture 1 of 1
Country: United Kingdom 1 of 1
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-02 Outcomes First Group

Bolton, United Kingdom

Outcomes First Group is a specialist provider of education and therapeutic care. The Group’s specialist education and therapeutic care services are provided by its nationwide teams, under the brands Acorn Education and Care and Options Autism. Outcomes First Group is based in Bolton, United Kingdom.

Buy -