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M&A Deal Summary

Permira and American Capital Acquire Renaissance

On August 24, 2011, private equity firms Permira and American Capital acquired education company Renaissance for 440M USD

Acquisition Highlights
  • This is Permira’s 1st and American Capital’s 3rd transaction in the Education sector.
  • This is Permira’s 55th and American Capital’s 8th largest (disclosed) transaction.
  • This is Permira’s 5th and American Capital’s 241st transaction in the United States.
  • This is Permira’s 1st and American Capital’s 7th transaction in Wisconsin.
Investment Fate
  • Renaissance was sold to a consortium of financial buyers in 2014 for 1.1B USD.
  • Renaissance was sold to a consortium of financial buyers in 2018.

M&A Deal Summary
Date 2011-08-24
Target Renaissance
Sector Education
Buyer(s) Permira
American Capital
Deal Type Going Private
Deal Value 440M USD
Advisor(s) Goldman Sachs (Financial)
Godfrey & Kahn (Legal)

Target

Renaissance

Wisconsin Rapids, Wisconsin, United States
Renaissance is a provider of technology-based school improvement and student assessment programs for pre-kindergarten through to senior high (pre-K-12, aged 5-18) schools and districts. The company's products and services, adopted by more than 70,000 schools, are primarily focused on two curriculum areas: reading and mathematics. Renaissance was founded in 1986 and is based in Wisconsin Rapids, Wisconsin.

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Buyer(S) 2

Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.

DEAL STATS #
Overall 73 of 168
Sector: Education M&A 1 of 4
Type: Going Private M&A Deals 5 of 17
State: Wisconsin M&A 1 of 2
Country: United States M&A 5 of 46
Year: 2011 M&A 2 of 3
Size (of disclosed) 55 of 63
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 PPF

Budaörs, Hungary

Partner in Pet Food (PPF) is a pet food manufacturer with nine manufacturing operations across Europe. PPF supplies pet food to more than 250 customers in Europe, including traditional retailers, discounters, speciality pet retailers and online specialists. Its product range covers the main categories of dog and cat food including wet and dry food including single serve products. Partner in Pet Food was founded in 1999 and is based in Budaörs, Hungary.

Sell €188M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-22 Provimi BV

Postbus, Netherlands

Provimi is a leading international developer, manufacturer and distributor of animal nutrition products. The company's principal activities include the manufacture, distribution and sale of pre-mixes, concentrates, complete feed, specialty products such as nutritional supplements, piglet feeds and milk replacers, fish feeds and pet food.

Sell €1.5B
Buyer

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 253 of 265
Sector: Education M&A 3 of 3
Type: Going Private M&A Deals 4 of 4
State: Wisconsin M&A 7 of 8
Country: United States M&A 241 of 253
Year: 2011 M&A 4 of 5
Size (of disclosed) 8 of 49
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-24 CamelBak Products

Petaluma, California, United States

CamelBak Products LLC is a provider of personal hydration solutions for outdoor, recreation and military use. The company's products include hydration packs, reusable bottles and individual purification and filtration systems.

Sell $258M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-02 Value Plastics

Fort Collins, Colorado, United States

Value Plastics, Inc. designs and manufactures over 3,400 plastic tubing components. Major product areas include quick connect fittings (quick disconnect couplings), sanitary fittings or couplers, luer fittings and connectors as well as alternatives to luer fittings, check valves, tubing fittings and connectors up to 1' (25.4 mm) ID, fittings and connectors joining plastic tubing to threaded ports, blood pressure fittings and connectors, and bondable (prototyping) fittings and connectors.

Sell $250M
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