M&A Deal Summary

Mindful Capital Partners, Hony Capital, Goldman Sachs Merchant Banking and Zoomlion Acquire CIFA

On September 1, 2008, private equity firm Mindful Capital Partners, private equity firm Hony Capital, private equity firm Goldman Sachs Merchant Banking and Zoomlion acquired machinery company CIFA from Alpha Group for 511M EUR

Acquisition Highlights
  • This is Mindful Capital Partners’ 1st, Hony Capital’s 2nd, Goldman Sachs Merchant Banking’s 2nd and Zoomlion’s 1st transaction in the Machinery sector.
  • This is Mindful Capital Partners’ , Hony Capital’s 4th, Goldman Sachs Merchant Banking’s 39th and Zoomlion’s largest (disclosed) transaction.
  • This is Mindful Capital Partners’ 2nd, Hony Capital’s 1st, Goldman Sachs Merchant Banking’s 1st and Zoomlion’s 1st transaction in Italy.

M&A Deal Summary
Date 2008-09-01
Target CIFA
Sector Machinery
Buyer(s) Mindful Capital Partners
Hony Capital
Goldman Sachs Merchant Banking
Zoomlion
Sellers(s) Alpha Group
Deal Type Secondary Buyout
Deal Value 511M EUR

Target

CIFA

Milano, Italy
​CIFA is a concrete equipment manufacturer offering full-line concrete equipments including concrete pumps, concrete mixers, plants, and formworks. CIFA was founded in 1928 and is based in Milano, Italy.

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Buyer(S) 4

Buyer

Mindful Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.3B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Mandarin Capital Management SA is a Chinese-European private equity firm that seeks to invest in mid-market Italian and German companies looking to expand into Asia. Mandarin Capital looks to invest €10 to €30 million in companies generating revenues of €40 to €300 million. The Firm will consider both majority and minority equity positions. Prospective transaction situations include buyouts (MBOs, MBIs, and LBOs) and growth /development capital financings. Mandarin Capital Partners was formed in 2007 and has offices in Luxembourg, Milan, Frankfurt, and Shanghai.

DEAL STATS #
Overall 2 of 27
Sector (Machinery) 1 of 4
Type (Secondary Buyout) 1 of 3
Country (Italy) 2 of 23
Year (2008) 2 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-01 Gasket International

Calepio, Italy

Gasket International is a manufacturer of steel seat rings, balls and valve components with ultramodern manufacturing plant in Italy and exports in all the 5 continents.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Archimica

Lodi, Italy

Archimica offers small- to large-scale commercial manufacturing as well as analytical support for the global biopharmaceutical market. The company is specialized in custom synthesis and the manufacture of active pharmaceutical ingredients (“APIs”). Archimica was founded in 1946 and is based in Lodi, Italy.

Buy -
Buyer

Hony Capital

Beijing, China

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hony Capital (Beijing) Co., Ltd. is a private equity firm focused on investment opportunities across China. The Firm targets buyouts and commercializations of Chinese state-owned enterprises as well as growth capital investments in rapidly-growing private Chinese companies. Hony's primary focus is within the construction materials, pharmaceuticals, construction machinery, retail, and consumer goods sectors, however, the firm will also consider opportunities in media/entertainment, financial services, energy, and resources. Hony is a long-term investor and is sponsored by Legend Holdings, parent of computer maker Lenovo amongst other properties. Hony Capital is located in Beijing, China.

DEAL STATS #
Overall 13 of 41
Sector (Machinery) 2 of 2
Type (Secondary Buyout) 1 of 1
Country (Italy) 1 of 2
Year (2008) 5 of 5
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-1 Lenovo Mobile Telecom Technological Company

China

Lenovo Mobile is a leading mobile handset producer in China and ranks No.4 after Nokia, Motorola and Samsung. The company owns wide spectrum products ranging from 2.5G feature phone, smart phone to 3G handset products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-12 Wumart

Beijing, China

Wumart operates a chain of 424 superstores and mini-mart outlets in Beijing, Tianjin, and the Zhejiang Province. Wumart was founded in 1994 and is based in Beijing, China.

Buy -
Buyer

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 65 of 182
Sector (Machinery) 2 of 2
Type (Secondary Buyout) 12 of 66
Country (Italy) 1 of 1
Year (2008) 10 of 12
Size (of disclosed) 39 of 52
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 The Xella Group

Duisburg, Germany

The Xella Group is an international solution providers in the field of building and insulation materials. Xella is the parent company of such well-known brands as Ytong, Silka, Hebel, and Multipor, and is one of the pioneers in digitally supported construction processes with its digital planning service blue.sprint.

Buy €1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-25 Verra Mobility

Mesa, Arizona, United States

Verra Mobility is a global leader in smart mobility, serving the world's largest commercial fleets and rental car companies in managing tolling transactions and violations for more than 8.5 million vehicles and operating more than 4,000 red-light, speed, and school bus stop arm safety cameras. Verra Mobility maintains its leadership position in the marketplace through meaningful scale and has demonstrated consistent revenue growth underscored by its differentiated transaction processing model. Verra Mobility was founded in 2016 and is based in Mesa, Arizona.

Buy -
Buyer

Zoomlion

Hunan, China
Category Company
Founded 1992
Sector Machinery
DESCRIPTION

Zoomlion is a construction and mining equipment manufacture. Its products include concrete equipment, truck-based cranes, tower cranes, road-work machinery and municipal sanitation equipment. Zoomlion was founded in 1992 and is based in Hunan, China.

DEAL STATS #
Overall 1 of 2
Sector (Machinery) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (Italy) 1 of 2
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 Ladurner

Bolzano, Italy

Ladurner is a waste treatment company and offers design, construction, and management of municipal solid waste treatment plants and the production of renewable energy from solid and liquid waste and from agricultural biomass. Ladurner was founded in 1990 and is based in Bolzano, Italy.

Buy -

Seller(S) 1

SELLER

Alpha Group

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Alpha Group is a European private equity firm specializing in LBOs and development capital investments. The Firm seeks to invest in companies throughout Europe, including Germany, Switzerland, Italy, France, and Benelux as well as some eastern European countries. The Firm seeks to commit €50 to €125 million in companies valued between €100 and €500 million. Alpha typically takes majority control and arranges for founders or key managers to co-invest. Sectors of interest include Consumer & Leisure, Fashion & Design, Industrial Manufacturing and Service & Distibution. Alpha Group was formed in 1985 and is based in Paris.

DEAL STATS #
Overall 21 of 41
Sector (Machinery) 1 of 5
Type (Secondary Buyout) 15 of 28
Country (Italy) 1 of 5
Year (2008) 1 of 2
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 Frial

Bayeux, France

Frial engages in premium frozen food, focused on developing unique, creative, and tasty recipes. Frial was established in 1980 and is based in Bayeux, France.

Buy €225M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 Cegelec SAS

Saint-Denis, France

Cegelec SAS history is closely linked to the development of the electricity and energy sectors in France and Europe.

Sell €1.7B
Mergr

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