M&A Deal Summary

KPS Capital Partners Acquires Princess Yachts

On February 13, 2023, private equity firm KPS Capital Partners acquired marine company Princess Yachts from L Catterton Partners and Cobepa SA

Acquisition Highlights
  • This is KPS Capital Partners’ 1st transaction in the Marine sector.
  • This is KPS Capital Partners’ 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2023-02-13
Target Princess Yachts
Sector Marine
Buyer(s) KPS Capital Partners
Sellers(s) L Catterton Partners
Cobepa SA
Deal Type Secondary Buyout
Advisor(s) Macquarie Capital (Financial)
Latham & Watkins (Legal)

Target

Princess Yachts

Plymouth, United Kingdom
Princess Yachts is a designer and manufacturer of luxury super yachts, offering yachts through its network of 50 exclusive distributors worldwide. Princess Yachts was founded in 1965 and is based in Plymouth, United Kingdom.

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Buyer(S) 1

Buyer

KPS Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 13.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

KPS Capital Partners is a private investment firm that targets special situations including turnarounds, restructurings, bankruptcies, and corporate divestitures. KPS' target investment size is $100 million to $1 billion in businesses with minimum revenues of $250 million. The Firm has specific interest in companies engaged in the manufacturing, transportation, and service industries. KPS will not consider investments in high technology, financial services, telecommunications, broadcast media, real estate and natural resources. The Firm's geographic coverage spans the US, Canada, and Europe. KPS Capital Partners was formed in 1991 and is based in New York City.


DEAL STATS #
Overall 50 of 55
Sector (Marine) 1 of 1
Type (Secondary Buyout) 8 of 10
Country (United Kingdom) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-09 Howden

Renfrew, United Kingdom

Howden is a provider of mission-critical air and gas handling products, technologies, and services. Howden supports multiple sectors including infrastructure, power generation, oil & gas, wastewater, metals, mining, and transportation. Howden was founded in 1854 and is based in Renfrew, Scotland.

Sell $4.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-14 IKG

Houston, Texas, United States

IKG is a manufacturer of high-quality steel and aluminum bar grating, with manufacturing plants throughout North America. From power plants to petroleum refineries, shipyards to large scale factories, IKG services major businesses throughout the industrial sector.

Sell -

Seller(S) 2

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 94 of 101
Sector (Marine) 1 of 1
Type (Secondary Buyout) 19 of 20
Country (United Kingdom) 5 of 5
Year (2023) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 Valoreo

Mexico, Mexico

Valoreo is an online marketplace aggregator, which focuses on investing, operating, and scaling digital brands in Mexico, Brazil, and Colombia. Valoreo was founded in 2020 and is based in Mexico.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-02 A.P.C.

Paris, France

A.P.C. is an authentic French label accessible by design, price and outlook. Initially the label was popular for a very classic, raw denim jean, but now includes a full collection of clothing and accessories for men and women, which embodies an effortless cool. A.P.C. was founded in 1987 and is based in Paris, France.

Buy -
SELLER

Cobepa SA

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1957
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Cobepa S.A. is a global investment group focused on growth capital investments (acquiring significant minority stakes) and leveraged buyout transactions. Cobepa invests in established companies with business models, sustainable market positions, and strong management teams. Sectors of interest include transportation, industrial, retail, financial services, and business services. The Firm generally pursues opportunities throughout Europe and North America, however Cobepa also targets opportunities in Asia and South America. Cobepa was originally established in 1957 and is headquartered in Brussels, Belgium


DEAL STATS #
Overall 18 of 19
Sector (Marine) 1 of 1
Type (Secondary Buyout) 8 of 9
Country (United Kingdom) 2 of 2
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-01 Ned Stevens

Fairfield, New Jersey, United States

Ned Stevens provides gutter cleaning, soft wash, and other related, non-discretionary residential services, including gutter maintenance, installation, and repair. Ned Stevens was founded in 1965 and is based in Fairfield, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-25 Scalian

Labege, France

Scalian is an engineering consulting firm that provides industrial project management services for issues pertaining to supply chain (costs, quality, deadlines, performance), the architecture and development of embedded digital systems and information system applications, big data, and AI. It also addresses project optimization and organizational performance issues, as well as provides digital transformation support for industry and service sector leaders. Scalian was founded in 1989 and is based in Labege, France.

Sell €965M