M&A Deal Summary

Metric Capital Partners, Duke Street Private Equity and Barings Private Equity Acquire Laurel Funerals

On April 11, 2012, mezzanine finance firm Metric Capital Partners, private equity firm Duke Street Private Equity and private equity firm Barings Private Equity acquired consumer services company Laurel Funerals from Sovereign Capital Partners for 38M GBP

Acquisition Highlights
  • This is Metric Capital Partners’ 1st, Duke Street Private Equity’s 2nd and Barings Private Equity’s 1st transaction in the Consumer Services sector.
  • This is Metric Capital Partners’ , Duke Street Private Equity’s 15th and Barings Private Equity’s 3rd largest (disclosed) transaction.
  • This is Metric Capital Partners’ 1st, Duke Street Private Equity’s 26th and Barings Private Equity’s 1st transaction in the United Kingdom.
Investment Fate
  • Laurel Funerals was sold to a strategic buyer in 2015 for 75M GBP.

M&A Deal Summary
Date 2012-04-11
Target Laurel Funerals
Sector Consumer Services
Buyer(s) Metric Capital Partners
Duke Street Private Equity
Barings Private Equity
Sellers(s) Sovereign Capital Partners
Deal Type Secondary Buyout
Deal Value 38M GBP

Target

Laurel Funerals

Wolverhampton, United Kingdom
Laurel Funerals Ltd. is engaged in conducting funeral services. Laurel Funerals was formed in 1995 and is based in Wolverhampton.

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Buyer(S) 3

Buyer

Metric Capital Partners

Category Mezzanine Finance Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Metric Capital Partners is a private equity firm focused on proving financing solutions to small and mid-sized companies across Europe. Investment funds are generally used to support buyouts, refinancings, growth capital financings, rescues, and shareholder liquidity needs. Metric Capital Partners was formed in 2011 and is based in London.

DEAL STATS #
Overall 2 of 25
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 2 of 5
Country (United Kingdom) 1 of 8
Year (2012) 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-15 Leobersdorfer Maschinenfabrik

Leobersdorf, Austria

Leobersdorfer Maschinenfabrik GmbH is a manufacturer of high-pressure compressor systems for air, natural gas, and other technical and industrial gases for pressures ranging up to 600 bar. Leobersdorfer Maschinenfabrik was founded in 1850 and is based in Leobersdorf, Austria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-11 Kedleston Group

Uxbridge, United Kingdom

Kedleston Group is a provider of care, education, and support services for children with emotional, behavioral, and learning disabilities. Kedleston currently operates 9 schools throughout the UK and has a broad offering, providing care and education services for children aged 7 to 18. Kedleston Group was founded in 2007 and is based in Uxbridge, United Kingdom.

Buy -
Buyer

Duke Street Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Duke Street Private Equity is a European private equity firm that targets investments in mid-market UK and French businesses valued between €50 and €350 million. Duke Street looks to build companies through organic growth and acquisitions. Sectors of interest include business services and outsourcing, retail and consumer, food, industrial, healthcare, leisure, and financial services. Duke Street Private Equity was founded in 1988 and is based in London.

DEAL STATS #
Overall 44 of 56
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 9 of 13
Country (United Kingdom) 26 of 33
Year (2012) 2 of 2
Size (of disclosed) 15 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-06 Parabis Group

London, United Kingdom

Parabis Group is a provider of personal injury litigation services under the trading names of Plexus Law and Cogent Law, acting for a large number of insurers in the UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-12 Adelie Foods Group

Slough, United Kingdom

Adelie Foods Group is a supplier of chilled Food-to-Go, offering a range of products such as sandwiches, salads, and quiche to supermarkets, coffee shops, and the foodservice sector.

Sell $350M
Buyer

Barings Private Equity

Investor Investor

Category Private Equity Firm
Founded 1991
PE ASSETS 5.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Barings Private Equity is the private equity arm of global asset management firm Barings. The Group looks to invest in mezzanine, distressed, and other private equity transactions including secondaries and funds. Sectors of interest include manufacturing, business services, distribution, consumer products, consumer services, food products, packaging, and healthcare. Barings Private Equity was originally established in 1991 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 17 of 53
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 6 of 20
Country (United Kingdom) 1 of 3
Year (2012) 3 of 11
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-26 Church Services

Houston, Texas, United States

Church Services, Inc. is a provider of residential maintenance, repair, and replacement services in the areas of (i) heating, ventilation and air conditioning ("HVAC"), (ii) electrical, (iii) plumbing and (iv) foundation repair. Church Services was founded in 1990 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-08 Sage Dental Management

Boca Raton, Florida, United States

Sage Dental Management is a dental service organization providing comprehensive administrative support services and facilities. Sage Dental Management was founded in 1997 and is based in Boca Raton, Florida.

Buy -

Seller(S) 1

SELLER

Sovereign Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 1.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Sovereign Capital Partners (SCP) is a private equity firm that specializes in buy and build opportunities throughout the UK. The Firm targets consolidation strategies in the education and training, healthcare, and outsourced business services sectors. SCP looks to invest £10 to £120 million per transaction. Sovereign Capital Partners was formed in 2001 and is based in London.

DEAL STATS #
Overall 6 of 28
Sector (Consumer Services) 2 of 5
Type (Secondary Buyout) 2 of 10
Country (United Kingdom) 6 of 25
Year (2012) 2 of 3
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-19 NFG

Bolton, United Kingdom

NFG is a provider of fostering and related support services foster carers, children, and young people. NFG was founded in 1995 and is based in Bolton, United Kingdom.

Sell £130M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-05 Astrum Education Group

London, United Kingdom

Astrum Education Group is a group of three highly successful sixth form colleges in London. It offers educational services. Astrum Education Group was established in 2012 and is based in London, United Kingdom.

Buy -
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