M&A Deal Summary

KKR Acquires April

On November 26, 2022, private equity firm KKR acquired insurance company April from CVC Capital Partners

Acquisition Highlights
  • This is KKR’s 12th transaction in the Insurance sector.
  • This is KKR’s 17th transaction in France.

M&A Deal Summary
Date 2022-11-26
Target April
Sector Insurance
Buyer(s) KKR
Sellers(s) CVC Capital Partners
Deal Type Secondary Buyout

Target

April

Lyon, France
April is a wholesale broker for consumer and SME insurance with a mid-sized consumer credit broker and several international subsidiaries. April was formed in 1998 and is based in Lyon, France.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 445 of 483
Sector (Insurance) 12 of 13
Type (Secondary Buyout) 93 of 107
Country (France) 17 of 17
Year (2022) 25 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-09 Five Star Business Finance

Chennai, India

Five Star Business Finance is a non-bank finance company providing loans to nearly 40,000 customers. The company focuses on lending to the under-banked population, which typically lacks the financial records necessary to participate in the organized financial sector. Five Star Business Finance was founded in 1984 and is headquartered in Chennai, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-06 Clinisupplies

Watford, United Kingdom

Clinisupplies is a manufacturer and supplier of medical appliances specializing in continence products for managing acute and chronic conditions. The company also offers a portfolio of bandages and garments for the treatment of wounds and chronic skin conditions. Clinisupplies supplies its products to the NHS and delivers directly to patients’ homes through Clinidirect, its dispensing appliance contractor. Clinisupplies is based in Watford, United Kingdom.

Buy -

Seller(S) 1

SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.

DEAL STATS #
Overall 168 of 173
Sector (Insurance) 3 of 4
Type (Secondary Buyout) 41 of 42
Country (France) 10 of 10
Year (2022) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-21 Gridspertise

Rome, Italy

Gridspertise offers grid intelligent devices, end-to-end cloud-edge platform solutions, and services to accelerate the digital transformation of electricity distribution grids across three main areas: metering and grid edge digitalization, network infrastructure digitalization, and field operation digitalization. Gridspertise was formed in 2021 and is based in Rome, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-15 GarudaFood

South Jakarta, Indonesia

GarudaFood is a seller of branded consumer food products. The company has four main product categories: biscuits, snacks, instant beverages and chocolate confectionery which it produces across its five production facilities.

Sell -
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