M&A Deal Summary

Investcorp Acquires Redington Gulf FZE

On October 14, 2008, asset manager Investcorp acquired information technology company Redington Gulf FZE from ChrysCapital

Acquisition Highlights
  • This is Investcorp’s 5th transaction in the Information Technology sector.
  • This is Investcorp’s 1st transaction in United Arab Emirates.

M&A Deal Summary

Date 2008-10-14
Target Redington Gulf FZE
Sector Information Technology
Buyer(s) Investcorp
Sellers(s) ChrysCapital
Deal Type Secondary Buyout

Target

Redington Gulf FZE

Dubai, United Arab Emirates
Redington Gulf is the largest IT distributor and supply chain solutions provider in the Middle East and Africa, distributing and servicing more than 24 brands of IT and telecom products for global vendors such as HP, Acer, Dell, Samsung, Western Digital, Cisco and Nokia. Founded in 1993, the company provides warehousing, logistics, credit management and warranty / post-warranty product repair services to thousands of local resellers and retailers.

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Buyer(S) 1

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 STATS #
Overall 79 of 189
Sector: Information Technology M&A 5 of 19
Type: Secondary Buyout M&A Deals 22 of 60
Country: United Arab Emirates M&A 1 of 3
Year: 2008 M&A 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-10 CEME

Trivolzio, Italy

CEME is a manufacturer of high and low pressure pumps, brass and plastic valves, pressure switches and flow meters which enable controlling the passage of any type of fluid: water, gas, steam or air. The company serves critical niche applications in end-markets such as single serve coffee machines (which today account for the majority of revenues), beverage and vending machines, water dispensing and air conditioning units as well as medical devices. CEME was founded in 1974 and is based in Carugate, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-14 Evoca

Milan, Italy

Evoca is a manufacturer of Hot & Cold and Snack & Food vending machines. Evoca was founded in 2000 and is based in Milan, Italy.

Buy -

Seller(S) 1

SELLER

ChrysCapital

Port Louis, Mauritius

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.


DEAL STATS #
Overall 10 of 32
Sector: Information Technology M&A 2 of 4
Type: Secondary Buyout M&A Deals 2 of 7
Country: United Arab Emirates M&A 1 of 1
Year: 2008 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-10 HCL Technologies

Noida, India

HCL Technologies is an IT services company. The Company’s services portfolio includes application development and maintenance, package implementation services, engineering and R&D services, infrastructure management services and business process outsourcing services. It has a large active client base across banking, financial services and insurance, manufacturing, telecom, retail, media and healthcare verticals. HCL Technologies was founded in 1976 and is based in Noida, Uttar Pradesh.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-09 Shriram Finance

Mumbai, India

Shriram Finance is a finance provider for the commercial vehicle industry with a focus on providing credit facilities to small truck owners. Shriram Finance was founded in 1979 and is based in Mumbai, India.

Sell -