M&A Deal Summary

PAI Partners Acquires European Camping Group

On October 5, 2021, private equity firm PAI Partners acquired leisure company European Camping Group from The Carlyle Group, Montefiore Investment and Ontario Teachers Pension Plan

Acquisition Highlights
  • This is PAI Partners’ 3rd transaction in the Leisure sector.
  • This is PAI Partners’ 37th transaction in France.

M&A Deal Summary

Date 2021-10-05
Target European Camping Group
Sector Leisure
Buyer(s) PAI Partners
Sellers(s) The Carlyle Group
Montefiore Investment
Ontario Teachers Pension Plan
Deal Type Secondary Buyout

Target

European Camping Group

Aix-en-Provence, France
European Camping Group is a provider of holiday camping and mobile homes to customers. European Camping Group was formed in 1989 and is based in Aix-en-Provence, France.

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Buyer(S) 1

Buyer

PAI Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 80 of 92
Sector (Leisure) 3 of 4
Type (Secondary Buyout) 36 of 46
Country (France) 37 of 41
Year (2021) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Tropicana Products

Bradenton, Florida, United States

Tropicana Products is a provider of juices, and brands including Tropicana, Naked, KeVita, Izze, Dole, Copella, and Punica. Tropicana Products was founded in 1947 and is based in Bradenton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-08 Addo Food Group

Nottingham, United Kingdom

Addo Food Group is a food company specializing in chilled savory foods, including pork pies, quiche, savory pies, sausage rolls, pasties, slices, and Scotch eggs. The company produces including sausage rolls, scotch eggs, and pies for some of the UK’s best-known brands, such as Pork Farms, Wall’s, Bowyers and Millers Bakery. Addo Food Group was founded in 1786 and is based in Nottingham, United Kingdom.

Sell -

Seller(S) 3

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 428 of 480
Sector (Leisure) 8 of 8
Type (Secondary Buyout) 95 of 117
Country (France) 20 of 22
Year (2021) 20 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 1440 Foods

New York, New York, United States

1440 Foods is a functional snacking and active lifestyle platform with 4 brands: Pure Protein, Met RX, Body Fortress, and Balance Bar. The Company sells protein bars, protein powders, ready-to-drink protein shakes, and protein salty snacks. 1440 Foods is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Comdata

Milan, Italy

Comdata is a company for outsourcing of contact center, help desk, back office, credit management and document management services. Comdata was founded in 1987 and is based in Milan, Italy.

Sell -
SELLER

Montefiore Investment

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Montefiore Investment is a independent investment group focused on acquiring mid-market companies with strong potential for profit and growth. The Firm primarily targets opportunities in "Locally Supplied Services". Sectors of interest include retail, B2B distribution, hotels/catering, leisure, tourism, transportation, healthcare, consumer services, and business services. Montefiore looks to invest €15 to €100 million. Montefiore Investment was formed in 2005 and is based in Paris.


DEAL STATS #
Overall 8 of 9
Sector (Leisure) 2 of 2
Type (Secondary Buyout) 6 of 6
Country (France) 6 of 7
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-03 Federation Studios

Paris, France

Federation Studios is an independent European studios, focusing on the creation, production, financing and distribution of high-quality original productions for the global marketplace. Federation Studios was founded in 2013 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 NGE

Tarascon, France

NGE (New Generations of Entrepreneurs) is a construction company engaged alongside territories and communities to create bridges, roads, railways, fiber optic networks, cultural, social, educational living spaces, etc. NGE operates in all the specialist areas of expertise and strategic business sectors required to fund, design, build and maintain major infrastructure and local projects in France and internationally. Its wholly-owned resources and multi-expertise model enable the Group to work closely with customers at every stage in the project value chain. NGE was founded in 2002 and is based in Tarascon, France.

Buy -
SELLER

Ontario Teachers Pension Plan

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Pension
Founded 1990
PE ASSETS 242.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Teachers' Private Capital is the direct investment arm of the Ontario Teachers' Pension Plan. Teachers' Private Capital considers both private equity and venture related investments in North America, Europe, and Asia. Teachers' can support direct private equity investments between $100 million and $3 billion. Target sectors include business services, consumer products, retail, diversified industrials, financial services, technology, media, and communications. Teachers' Private Capital also makes private equity fund investments between $50 million and $750 million. Teachers' Private Capital was formed in 1991 and is based in Toronto, with additional offices in London and New York.


DEAL STATS #
Overall 60 of 72
Sector (Leisure) 3 of 4
Type (Secondary Buyout) 16 of 20
Country (France) 1 of 1
Year (2021) 12 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-01 Washington Analysis

Washington, District of Columbia, United States

Washington Analysis is an independent institutional research firm specializing in identifying risks and opportunities across asset-classes emanating from courts, Congress, and regulators, at both the state and federal levels. The company strives to be predictive in separating headline risk from fundamental changes that have a more pervasive and lasting investment impact. It also keeps an eye towards identifying the non-consensus view and looks to correct widely held misperceptions whenever possible. Washington Analysis was formed in 1973 and is based in Washington DC.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-13 Vantage Elevator Solutions

Bronx, New York, United States

Vantage Elevator Solutions is an independent manufacturer of elevator components and systems for new equipment applications, equipment upgrade projects, and service replacement parts. Vantage is comprised of eight business units including GAL Manufacturing Company and GAL Canada; Hollister-Whitney Elevator Corporation; Elevator Controls Corporation; Courion; Bore-Max; Thames Valley Controls; and Vertical Dimensions. Through its brands, Vantage supplies almost all electro-mechanical devices used in contemporary elevators. Vantage Elevator Solutions sells its products to a diverse range of customers including hundreds of independent elevator contractors, in addition to several well-known multi-national elevator companies. Vantage Elevator Solutions was founded in 1927 and is based in Bronx, New York.

Buy -