M&A Deal Summary

Eurazeo PME, Omnes Capital and Cathay Capital Private Equity Acquire Moncler

On June 5, 2011, private equity firms Eurazeo PME, Omnes Capital and Cathay Capital Private Equity acquired retailer Moncler from Progressio SGR and The Carlyle Group for 418M EUR

Acquisition Highlights
  • This is Eurazeo PME’s 1st, Omnes Capital’s 6th and Cathay Capital Private Equity’s 1st transaction in the Retail sector.
  • This is Eurazeo PME’s 5th, Omnes Capital’s 8th and Cathay Capital Private Equity’s 2nd largest (disclosed) transaction.
  • This is Eurazeo PME’s 1st, Omnes Capital’s 1st and Cathay Capital Private Equity’s 1st transaction in Italy.
Investment Fate
  • Moncler went public in 2013.

M&A Deal Summary

Date 2011-06-05
Target Moncler
Sector Retail
Buyer(s) Eurazeo PME
Omnes Capital
Cathay Capital Private Equity
Sellers(s) Progressio SGR
The Carlyle Group
Deal Type Secondary Buyout
Deal Value 418M EUR

Target

Moncler

Milan , Italy
Moncler is a manufacturer of high-end sportswear products under the brands Moncler, Henry Cotton, Marina Yachting and Coast, Weber & Ahaus (CWA) and licensee of the second-line brand Cerruti. Moncler was founded in 1952 and is based in Milan, Italy.

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Buyer(S) 3

Buyer
DESCRIPTION

Eurazeo PME, formerly known as OFI Private Equity Capital. Eurazeo PME invests equity and mezzanine capital in secondary buyout transactions of unlisted French companies. The Firm looks for opportunities valued between €50 and €250 million. Areas of interest include chemicals, financial services, consumer services, retail, manufacturing, distribution, and life science. Eurazeo PME was formed in 1997 and is based in Paris.


DEAL STATS #
Overall 19 of 82
Sector (Retail) 1 of 1
Type (Secondary Buyout) 6 of 31
Country (Italy) 1 of 1
Year (2011) 2 of 2
Size (of disclosed) 5 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Axson Technologies SA

Cergy, France

Axson Polymers Technologies designs, formulates and manufactures high-performance resins and composites for advanced technological applications. The original business of design and prototype development lifted the group to the rank of European leader and second worldwide. This position has consolidated its position in the past few years by developing new product lines. The group has a strong international presence with subsidiaries in 12 countries in Europe, the Americas and Asia, via a network of 35 exclusive distributors and 6 production sites.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-14 Mors Smitt Holding

Utrecht, Netherlands

Mors Smitt is a major player in the European electronic components market manufacturing principally for companies in the railway industry. MSH designs, produces and sells systems and components for controlling, measuring and automating electrotechnical processes.

Sell -
Buyer

Omnes Capital

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 5.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.


DEAL STATS #
Overall 97 of 162
Sector (Retail) 6 of 7
Type (Secondary Buyout) 13 of 26
Country (Italy) 1 of 6
Year (2011) 4 of 8
Size (of disclosed) 8 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-11 Saverglass SAS

Feuquières, France

Saverglass SAS is a designer and manufacturer of high quality glass bottles for spirits and fine wines and, marginally, for the perfume sector.

Sell €420M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-22 RAC

Walsall, United Kingdom

RAC is an motoring organization offers roadside assistance to around 8.6 million members if their vehicles suffer a mechanical failure, fixing 80% of issues at the roadside. If the issue can’t be resolved then members will be offered a tow to a destination of the member’s choice. RAC is also an insurance broker, offering car, home, motorcycle and van and other specialist insurance using a panel of third-party underwriters to roadside members and non-members. RAC was founded in 1897 and is based in Walsall, United Kingdom.

Buy £1.0B
Buyer

Cathay Capital Private Equity

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cathay Capital Private Equity SAS is a French Chinese private equity firm focused on acquiring businesses in France, Hong Kong, and China. Cathay looks to help Western companies leverage opportunities in China and help Chinese companies leverage Western best practices and partnerships. The Firm looks to invest in businesses generating €5 to €150 million in revenues. Areas of interest include retail, consumer goods, electrical equipment, medical devices, pharmaceuticals, animal healthcare, translation, food, consumer services, and software. Cathay Capital Private Equity SAS was formed in 2007 and is based in Paris. The firm has additional offices in New York and Shanghai.


DEAL STATS #
Overall 14 of 100
Sector (Retail) 1 of 3
Type (Secondary Buyout) 4 of 16
Country (Italy) 1 of 1
Year (2011) 3 of 7
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-07 CMR Group

Marseille, France

CMR Group is a global engineering partner for marine, offshore, and industrial applications. Our solutions include design, manufacturing, and service of instrumentation and engine controls. CMR Group was founded in 1959 and is based in Marseille, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-22 Vulcanic

Neuilly sur Marne, France

Vulcanic is a designer and manufacturer of low and medium-volume series of electrical heating and cooling solutions for the industry (heating elements, industrial radiators, thermo regulators, etc. Vulcanic was founded in 1956 and is based in Neuilly Sur Marne, France.

Buy -

Seller(S) 2

SELLER

Progressio SGR

Milan, Italy

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 730M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Progressio SGR S.p.A. is an independent private equity firm focuses on acquiring small and mid-sized companies located in Italy. The Firm targets growth potential industrial and services companies. It looks to invest in businesses with revenues of €30 to €150 million. Progressio seeks to acquire majority or minority stakes in portfolio companies. Prospective transaction situation includes MBO, MBIs, and development capital. Progressio was formed in 2005 and is based in Milan.


DEAL STATS #
Overall 2 of 11
Sector (Retail) 1 of 1
Type (Secondary Buyout) 1 of 3
Country (Italy) 2 of 11
Year (2011) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-19 Polenghi Group

Lombardia, Italy

Polenghi Group is a provider of lemon/lime juice products for the food dressing industry, with a relevant part of the business in the organic niche. Polenghi Group was established in 1976 and is based in Lombardia, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Orocash - Handle Italia Srl

Milano, Italy

Orocash - Handle Italia Srl buys and sells of precious jewels and used. The Group has, among directly operated stores and franchises more than 500 stores and is present, as well as in Italy, Spain, Portugal and Ireland.

Buy -
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 174 of 482
Sector (Retail) 4 of 8
Type (Secondary Buyout) 28 of 118
Country (Italy) 4 of 12
Year (2011) 13 of 28
Size (of disclosed) 62 of 136
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-26 FreeScale Semiconductor

Austin, Texas, United States

Freescale Semiconductor, Inc. is a designer and manufacturer of embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. FreeScale designs, researches and development, manufacturing or sales operations in more than 30 countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 Sagemcom

Bois-Colombes, France

Sagemcom is a designer, developer and producer of a complete line of products for the broadband, set top box and printing industries. These products include consumer faxes, terminal & pro systems, photo printers, broadband access/DSL/FTTH, residential telephones, Wifi terminals, digital set top boxes, energy metering, networking equipment, video projectors and radio /modules. Sagemcom was founded in 2008 and is based in Bois-Colombes, France.

Buy -