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M&A Deal Summary

Partners Group AG, TA Associates and CDPQ Acquire Emeria

On July 5, 2016, asset manager Partners Group AG, private equity firm TA Associates and asset manager CDPQ acquired real estate company Emeria from Bridgepoint and Eurazeo PME

Acquisition Highlights
  • This is Partners Group AG’s 1st, TA Associates’ 1st and CDPQ’s 1st transaction in the Real Estate sector.
  • This is Partners Group AG’s 1st, TA Associates’ 5th and CDPQ’s 3rd transaction in France.

M&A Deal Summary
Date 2016-07-05
Target Emeria
Sector Real Estate
Buyer(s) Partners Group AG
TA Associates
CDPQ
Sellers(s) Bridgepoint
Eurazeo PME
Deal Type Secondary Buyout

Target

Emeria

Antony, France
Emeria is an acquisitive and tech-enabled platform that provides a range of real estate services to residential property owners and tenants, including joint-property management, lease management, letting and brokerage services. The Company also offers insurance services, such as multi-risk guarantee and rental guarantee insurance, and a range of ancillary, digital, and B2B services, including diagnostic solutions and B2B property management. Emeria is based in Antony, France.

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Buyer(S) 3

Buyer

Partners Group AG

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1996
Size Mega
Type Sector Agnostic
DESCRIPTION

Partners Group is a global investment management firm with a variety of funds and institutional clients. The Firm's direct investment group looks to invest in or acquire market leading companies with growth opportunities linked to technology. Partners is a hands-on investor and looks to actively support its portfolio companies with expansion, operational, and governance structure support. Partners Group was established in 1996 and is headquartered in Zug, Switzerland.

DEAL STATS #
Overall 37 of 89
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 17 of 52
Country (France) 1 of 3
Year (2016) 9 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 PCI Pharma Services

Philadelphia, Pennsylvania, United States

PCI Pharma Services is a provider of outsourced pharmaceutical supply chain solutions supporting biotechnology and pharmaceutical companies throughout the various stages of drug development and commercialization. PCI Pharma Services was founded in 2012 and is based in Philadelphia, Pennsylvania.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-06 Careismatic Brands

Chatsworth, California, United States

Careismatic Brands is a designer, marketer, and distributor of high-quality uniforms, footwear and accessories to retailers. The company manufactures products through multiple brands. Careismatic Brands was founded in 1995 and is based in Chatsworth, California.

Sell -
Buyer

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 246 of 366
Sector (Real Estate) 1 of 2
Type (Secondary Buyout) 30 of 70
Country (France) 5 of 11
Year (2016) 12 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-30 Kiwoko

Madrid, Spain

Kiwoko is an integrated pet care specialist in Spain and Portugal with a growing network of over 125 specialized pet stores, 75 veterinary clinics, and eight veterinary hospitals.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-01 5.11 Tactical

Irvine, California, United States

5.11 Tactical is a designer and marketer of purpose-built tactical apparel and gear serving a wide range of global customers including law enforcement, military special operations, and firefighters, as well as outdoor enthusiasts. 5.11 Tactical was established in 2003 and is based in Irvine, California.

Sell $400M
Buyer

CDPQ

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.

DEAL STATS #
Overall 22 of 105
Sector (Real Estate) 1 of 2
Type (Secondary Buyout) 3 of 20
Country (France) 3 of 9
Year (2016) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-20 Stingray

Montreal, Quebec, Canada

Stingray is a music and video content provider on a number of platforms including Digital TV, IPTV, the Internet, mobile devices and game consoles. Stingray was incorporated in 2007 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-13 Ovivo

Montréal, Quebec, Canada

Ovivo is a global supplier of equipment, technology and systems that can produce some of the purest water and treat some of the toughest wastewater in the industry. Ovivo is world-renowned with leading brands and has more than 150 years of water treatment expertise and credentials, backed by its exclusive products, advanced technologies and extensive integration expertise systems. Ovivo offers conventional or highly technological solutions to treat water for industrial and municipal markets, and relies on its extensive base of equipment installed worldwide to offer parts and services to its customers. Ovivo was founded in 1975 and is based in Montreal, Quebec.

Buy -

Seller(S) 2

SELLER

Bridgepoint

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 28.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Bridgepoint is a large European private equity firm that invests in middle-market companies across a broad range of industries with an enterprise value of €200 - €1000 million. Prospective transaction situations include buyouts, buy-ins, growth financings, consolidations, and take privates. The firms invest in the range of €75 - €400 million transaction. Bridgepoint Development Capital specializes in investments in businesses valued up to a €150 million, taking equity stakes of between €10 million and €75 million. General sectors of interest include consumer products and services, retail, financial services, healthcare, media, technology, industrials, and business services. Bridgepoint was formed in 1984 and has offices in London, Frankfurt, Luxembourg, Madrid, Milan, Paris, Stockholm and Warsaw.

DEAL STATS #
Overall 60 of 109
Sector (Real Estate) 1 of 3
Type (Secondary Buyout) 35 of 65
Country (France) 11 of 23
Year (2016) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-01 Peyman

Istanbul, Turkey

Peyman is a packaged dried fruit, nuts and seeds producer. Peyman was founded in 1995 and is based in Istanbul, Turkey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-05 Cruise

Redditch, United Kingdom

Cruise is an online travel agent serving UK for cruise reviews and cruise related questions and answers and publishes unique content and consolidates comparison tables of on-board facilities. Cruise was founded in 1984 and is based in Redditch, United Kingdom.

Buy £52M
SELLER

Eurazeo PME

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
Size Middle-Market
Type Sector Agnostic
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 15 of 29
Sector (Real Estate) 1 of 1
Type (Secondary Buyout) 8 of 16
Country (France) 12 of 21
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-04 Linvosges

Gerardmer, France

Linvosges offers linen products like sheets, fitted sheets and other products. Linvosges was founded in 1922 and is based in Gerardmer, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-30 Odealim

Paris, France

Odealim is an insurance broker for the property management sector. The company acts as an intermediary between insurers and joint-property companies, real estate companies and property owners. Odealim designs, produces, prices and manages insurance policies, which are underwritten by blue-chip insurance partners. Odealim was founded in 1927 and is based in Paris, France.

Buy -
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