M&A Deal Summary

KKR Acquires FL Selenia

On November 14, 2005, private equity firm KKR acquired chemicals company FL Selenia from Vestar Capital Partners and Synergo Capital SGR for 835M USD

Acquisition Highlights
  • This is KKR’s 2nd transaction in the Chemicals sector.
  • This is KKR’s 79th largest (disclosed) transaction.
  • This is KKR’s 1st transaction in Italy.
Investment Fate
  • FL Selenia was sold to a publicly-traded strategic buyer in 2007 for 1.0B EUR.

M&A Deal Summary

Date 2005-11-14
Target FL Selenia
Sector Chemicals
Buyer(s) KKR
Sellers(s) Vestar Capital Partners
Synergo Capital SGR
Deal Type Secondary Buyout
Deal Value 835M USD

Target

FL Selenia

Villastellone, TO, Italy
FL Selenia is a leading player in the development, manufacture and sale of lubricants and functional fluids for passenger, commercial and agricultural vehicles, and for industrial applications.

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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 510.0B 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 37 of 483
Sector (Chemicals) 2 of 5
Type (Secondary Buyout) 3 of 107
Country (Italy) 1 of 6
Year (2005) 7 of 8
Size (of disclosed) 79 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 TDC Group

Copenhagen, Denmark

TDC Group is a provider of communications and entertainment solutions. TDC Group has become two companies, each with its own core areas, which work towards a digital future, TDC NET delivers the best mobile network and the fastest fixed-line connections – and represents Denmark’s digital future with a roll-out of fiber and 5G. Nuuday is the leading service provider of digital services within TV, broadband, network, and telephony for private customers and businesses and consists of nine-strong brands.

Buy $15.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-22 Lake Region Medical

Chaska, Minnesota, United States

Lake Region Medical, Inc. is a developer and manufacture of OEM devices, supplying the world’s largest medical device companies with minimally invasive delivery solutions.

Buy $1.3B

Seller(S) 2

SELLER

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 28 of 66
Sector (Chemicals) 2 of 3
Type (Secondary Buyout) 7 of 16
Country (Italy) 1 of 4
Year (2005) 6 of 6
Size (of disclosed) 10 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-10 Russell-Stanley

Bridgewater, New Jersey, United States

Russell-Stanley is a manufacturer and marketer of steel and plastic industrial containers used primarily for the transportation of specialty chemicals, food products and other liquids. Russell-Stanley is based in Bridgewater, New Jersey.

Sell $96M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-06 Nybron Flooring International AG

Jona, Switzerland

Nybron Flooring International AG is a producer of wood flooring and the world market leader in pre-finished engineered wood flooring products.

Buy -
SELLER

Synergo Capital SGR

Milan, Italy

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Synergo SGR SpA is a private equity firm that targets mid-sized companies located in Italy. The Firm focuses on companies with good cash flow, international expansion opportunities, sustainable competitive advantages, and led by strong management teams. It typically looks to invest €20 to €50 million and will consider majority or significant minority stakes. The Firm does not pursue startups, small company investments, and turnarounds. Synergo SGR was formed in 2004 and is based in Milan.


DEAL STATS #
Overall 1 of 22
Sector (Chemicals) 1 of 2
Type (Secondary Buyout) 1 of 7
Country (Italy) 1 of 19
Year (2005) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 Byte Software House

Turin, Italy

Byte is an Italian-leading player in the field of Human Resources management outsourcing services and software applications for Medium-Large sized Italian enterprises.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-29 Redecam

Milan, Italy

Redecam is a manufacturer of filtering equipment active in the design, supply, and installation of complete process systems and equipment. Redecam was founded in 1980 and is based in Milan, Italy.

Buy -