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M&A Deal Summary

LDC and Antin Infrastructure Partners Acquire Porterbrook Leasing

On December 8, 2008, private equity firm LDC and infrastructure investor Antin Infrastructure Partners acquired retailer Porterbrook Leasing from Abbey National

Acquisition Highlights
  • This is LDC’s 4th and Antin Infrastructure Partners’ 1st transaction in the Retail sector.
  • This is LDC’s 70th and Antin Infrastructure Partners’ 1st transaction in the United Kingdom.
Investment Fate
  • Porterbrook Leasing was sold to a financial buyer in 2014.

M&A Deal Summary
Date 2008-12-08
Target Porterbrook Leasing
Sector Retail
Buyer(s) LDC
Antin Infrastructure Partners
Sellers(s) Abbey National
Deal Type Divestiture

Target

Porterbrook Leasing

London, United Kingdom
Porterbrook Leasing is an owns a diverse portfolio of passenger and freight rolling stock and leases this stock to train and freight operating companies in the UK under long-term lease agreements. Porterbrook Leasing was founded in 1994 and is based in London, United Kingdom.

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Buyer(S) 2

Buyer

LDC

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 3.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.

DEAL STATS #
Overall 75 of 311
Sector: Retail M&A 4 of 7
Type: Divestiture M&A Deals 2 of 24
Country: United Kingdom M&A 70 of 299
Year: 2008 M&A 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-26 Avery Weigh-Tronix

Fairmont, Minnesota, United States

Avery Weigh-Tronix LLC, a supplier of scales, weighing equipment and solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-02-01 Snell

Lower Earley, Reading, United Kingdom

Snell Ltd.(previously Snell & Wilcox) Pro-Bel and Snell & Wilcox have joined forces and created a new company to better serve the needs of the digital media market. The combination of Pro-Bel and Snell & Wilcox brings together hundreds of talented staff, and promises to deliver a new level of innovation, integrated solutions and service to customers worldwide.

Buy £72M
Buyer

Antin Infrastructure Partners

Paris, France

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2007
PE ASSETS 31.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Antin Infrastructure Partners is an infrastructure investment firm focused on opportunities throughout the Europe. Antin looks for assets with low technology risk and limited operating risk. Specific areas of interest include transportation (toll roads, airports, ports, car parks), energy/environment (gas storage, LNG terminals, energy transmission, distribution, water infrastructure, waste management), and telecom (GSM towers, ADSL networks, broadcast networks, cable networks, and satellites). The lead sponsor of Antin is BNP Paribas. Antin Infrastructure Partners was established in 2007 and is based in Paris.

DEAL STATS #
Overall 2 of 41
Sector: Retail M&A 1 of 1
Type: Divestiture M&A Deals 1 of 7
Country: United Kingdom M&A 1 of 13
Year: 2008 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-01 Bina-Istra

Lupoglav, Croatia

Bina Istra, the Concession company of the Istrian Motorways in Croatia jointly owned with Bouygues SA and the Croatian Motorway Agency. Bina-Istra was founded in 1995 and is based in Lupoglav, Croatia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-07-01 Euroports

Kallo, Belgium

Euroports operates 20 terminals throughout continental Europe handling over 50 million tonnes of diversified bulk commodities. It is a top 10 European port operator and believed to be the most diversified in terms of products and regions served. Euroports was founded in 2006 and is based in Kallo, Belgium.

Buy -

Seller(S) 1

SELLER

Abbey National

London, United Kingdom
Category Company
Founded 1989
Sector Financial Services
Employees764
DESCRIPTION

Abbey National provides treasury, corporate, and wholesale banking products and services primarily in the United Kingdom. Abbey National was established in 1944 and is based in London.

DEAL STATS #
Overall 1 of 1
Sector: Retail M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 1
Year: 2008 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-01 Porterbrook Leasing

London, United Kingdom

Porterbrook Leasing is an owns a diverse portfolio of passenger and freight rolling stock and leases this stock to train and freight operating companies in the UK under long-term lease agreements. Porterbrook Leasing was founded in 1994 and is based in London, United Kingdom.

Buy -
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