M&A Deal Summary

PAI Partners and EQT Private Capital Asia Acquire World Freight

On May 8, 2018, private equity firms PAI Partners and EQT Private Capital Asia acquired transportation company World Freight from Greenbriar Equity Group

Acquisition Highlights
  • This is PAI Partners’ 1st and EQT Private Capital Asia’s 2nd transaction in the Transportation sector.
  • This is PAI Partners’ 28th and EQT Private Capital Asia’s 1st transaction in France.

M&A Deal Summary

Date 2018-05-08
Target World Freight
Sector Transportation
Buyer(s) PAI Partners
EQT Private Capital Asia
Sellers(s) Greenbriar Equity Group
Deal Type Secondary Buyout
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Kirkland & Ellis (Legal)

Target

World Freight

Roissy, France
World Freight is a Global Sales and Services Agents (“GSSA”) whose core business is to provide airline partners with a comprehensive global presence and the resources to sell and optimize their cargo capacity. World Freight was formed in 2004 and is based in Roissy, France.

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Buyer(S) 2

Buyer

PAI Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 28.0B 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 57 of 95
Sector: Transportation M&A 1 of 1
Type: Secondary Buyout M&A Deals 19 of 47
Country: France M&A 28 of 42
Year: 2018 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-26 Albea

Gennevilliers, France

Albea is a packaging company producing a wide range of solutions for make-up, fragrance, skincare, personal and oral care markets. Albea was formed in 2006 and is based in Gennevilliers, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-18 M Group Services

Stevenage, United Kingdom

M Group Services is a service provider to the regulated infrastructure markets in the UK and Ireland through its utilities, transport, telecom, and data divisions. The Company operates through its subsidiaries that include Morrison Utility Services, Morrison Data Services, Dyer & Butler, Magdalene, PMP Utilities and M Group Services Plant & Fleet Solutions. M Group Services was formed in 1847 and is based in Hertfordshire, England.

Buy -
Buyer

EQT Private Capital Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT Private Capital Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. EQT Private Capital Asia was formed in 1997 and is based in Hong Kong.


DEAL STATS #
Overall 40 of 69
Sector: Transportation M&A 2 of 2
Type: Secondary Buyout M&A Deals 8 of 16
Country: France M&A 1 of 1
Year: 2018 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-16 eHi Car Service

Shanghai, China

eHi Car Service is a car rental and car services company. It provides comprehensive mobility solutions as an alternative to car ownership by best utilizing existing resources and sharing economy to create optimal value. eHi Car Service was founded in 2003 and is based Shanghai, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-01 Clarivate

London, United Kingdom

Clarivate is a provider of solutions to accelerate the lifecycle of innovation. Clarivate's bold mission is to help customers solve some of the world's most complex problems by providing actionable information and insights that reduce the time from new ideas to life-changing inventions in the areas of science and intellectual property. Clarivate was founded in 1864 and is based in London, England.

Sell -

Seller(S) 1

SELLER

Greenbriar Equity Group

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 14 of 28
Sector: Transportation M&A 6 of 10
Type: Secondary Buyout M&A Deals 7 of 12
Country: France M&A 1 of 1
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-30 Ryan Herco Flow Solutions

Burbank, California, United States

Ryan Herco Flow Solutions, Inc. is a distributor of corrosion-resistant fluid handling, filtration and flow control products in the United States with a growing presence in Asia. Ryan Herco Flow Solutions was founded in 1948 and is based in Burbank, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-11 Spireon

Knoxville, Tennessee, United States

Spireon is a connected vehicle intelligence company, providing businesses and consumers with powerful insights to track, manage and protect their most valuable mobile assets. Spireon was founded in 2002 and is based in Knoxville, Tennessee.

Buy -