M&A Deal Summary

BC Partners and Investindustrial Acquire Gruppo Coin

On May 9, 2011, private equity firms BC Partners and Investindustrial acquired retailer Gruppo Coin from PAI Partners for 1.7B EUR

Acquisition Highlights
  • This is BC Partners’ 5th and Investindustrial’s 2nd transaction in the Retail sector.
  • This is BC Partners’ 16th and Investindustrial’s largest (disclosed) transaction.
  • This is BC Partners’ 3rd and Investindustrial’s 12th transaction in Italy.

M&A Deal Summary
Date 2011-05-09
Target Gruppo Coin
Sector Retail
Buyer(s) BC Partners
Investindustrial
Sellers(s) PAI Partners
Deal Type Secondary Buyout
Deal Value 1.7B EUR

Target

Gruppo Coin

Mestre Venezia, Italy
Gruppo Coin is an Italian apparel retailer operating c. 800 stores in Italy and 90 overseas. The company employs 9,500 people. The group operates through two brands: Oviesse "OVS" which offers "value for money" clothing for women, men and children and Coin department stores which target more affluent customers, selling clothing for men, women and children, as well as accessories, underwear, home decoration, perfumes and cosmetics.

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Buyer(S) 2

Buyer

BC Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 30.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

BC Partners is a large investment group focused on private equity, credit, real estate, and co-investment strategies. The Firm's private equity group looks to make control investments in European and North American businesses valued above €300 million. Sectors of interest include healthcare, directory publishing, media, industrial products, food, distribution, manufacturing, consumer services, business services, and communications. BC Partners was formed in 1986 and is based in London, England.

DEAL STATS #
Overall 46 of 96
Sector (Retail) 5 of 6
Type (Secondary Buyout) 16 of 40
Country (Italy) 3 of 9
Year (2011) 3 of 4
Size (of disclosed) 16 of 42
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-29 Nille AS

Enebakk, Norway

Nille is one of the leading Norwegian discount retailers with a broad assortment of non-food products.Nille has a strong brand and nationwide network of more than 280 stores, which makes the company a clear leader in the shopping center discount segment. The product range is exclusively targeted towards women and includes categories such as candles, napkins, birthday products, kitchen supplies, textiles and a number of other categories.

Buy €263M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-21 Com Hem AB

Stockholm, Sweden

Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. The company plays an important role in Sweden’s ongoing digitalisation push, with its powerful and future-proofed broadband network that covers half of the country’s households, reaching approximately 1.5 million customers.

Buy $2.6B
Buyer

Investindustrial

London, United Kingdom

Investor Investor

Category Private Equity Firm
Founded 1990
PE ASSETS 11.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Investindustrial is an investment firm focused on creating global leaders through organic growth and acquisitions. The Firm is operationally driven and seeks opportunities in Southern Europe. Areas of interest include services, consumer, retail, leisure, and industrial manufacturing. Investindustrial has offices in London, Luxembourg, Milan, Lugano, Barcelona, Shanghai, and New York.

DEAL STATS #
Overall 21 of 58
Sector (Retail) 2 of 3
Type (Secondary Buyout) 5 of 14
Country (Italy) 12 of 28
Year (2011) 3 of 4
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-28 Snaitech

Milan, Italy

Snaitech SpA is an Italian gaming company involved in the horse and sports betting segment. The company's other operations include amusement with prizes (AWPs), video lottery and online skill games. Snaitech was formed in 1990 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-12 EmerU

Barcelona, Spain

EmerU is a private medical transportation operator, providing emergency ambulance transportation and non-urgent patient transportation services principally contracted on a long term basis with public administrations. EmerU is based in Barcelona, Sapin.

Buy €77M

Seller(S) 1

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.

DEAL STATS #
Overall 20 of 50
Sector (Retail) 2 of 2
Type (Secondary Buyout) 9 of 25
Country (Italy) 2 of 2
Year (2011) 4 of 6
Size (of disclosed) 11 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-05 Kereis

Paris, France

Kereis is a pioneer in protection insurance brokerage both in France and Europe, and specializes in credit protection. The company has invested significantly over the past years to diversify its distribution channels and develop its digital offering. Kereis was formed in 1991 and is based in Paris, France.

Sell €800M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-31 SPIE

Cergy-Pontoise, France

SPIE provides multi-technical contracting services in France and offers electrical, heating ventilation, air conditioning servicing, and mechanical engineering to end markets. SPIE was founded in 1900 and is based in Cergy-Pontoise.

Sell €2.1B
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