M&A Deal Summary

Portigon Financial Services Acquires ODEON Cinemas

On March 8, 2003, Portigon Financial Services acquired consumer services company ODEON Cinemas from Cinven for 628M EUR

Acquisition Highlights
  • This is Portigon Financial Services’ 1st transaction in the Consumer Services sector.
  • This is Portigon Financial Services’ 0th largest (disclosed) transaction.
  • This is Portigon Financial Services’ 1st transaction in the United Kingdom.
Investment Fate
  • ODEON Cinemas was sold to a consortium of buyers in 2004 for 1.0B EUR.
  • ODEON Cinemas was sold to a publicly-traded strategic buyer in 2016 for 921M GBP.

M&A Deal Summary
Date 2003-03-08
Target ODEON Cinemas
Sector Consumer Services
Buyer(s) Portigon Financial Services
Sellers(s) Cinven
Deal Type Add-on Acquisition
Deal Value 628M EUR

Target

ODEON Cinemas

London, United Kingdom
ODEON Cinemas Ltd. is a cinema operator with 242 cinemas and 2,236 screens. Odeon & UCI operates in four major markets: UK, Spain, Italy and Germany; and three smaller markets: Austria, Portugal and Ireland.

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Buyer(S) 1

Buyer

Portigon Financial Services

Dusseldorf, Germany
Category Company
Founded 1969
Sector Financial Services
DESCRIPTION

Portigon Financial Services is an independent financial services provider and holding company. Portigon is the successor to German commercial lender WestLB AG. The Company was originally established in 1969 and is based in Dusseldorf, Germany.

DEAL STATS #
Overall 1 of 3
Sector (Consumer Services) 1 of 1
Type (Add-on Acquisition) 1 of 3
Country (United Kingdom) 1 of 2
Year (2003) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Pubmaster Group

Hartlepool, United Kingdom

Pubmaster Group Ltd. is a independent pub retailer.

Buy -

Seller(S) 1

SELLER

Cinven

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1977
PE ASSETS 39.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.

DEAL STATS #
Overall 63 of 126
Sector (Consumer Services) 1 of 3
Type (Add-on Acquisition) 13 of 30
Country (United Kingdom) 52 of 72
Year (2003) 1 of 3
Size (of disclosed) 13 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-03-07 Gala Coral Group

Essex, United Kingdom

Gala Coral Group Ltd. is a fast growing UK retail gaming company, Gala operates successfully in the UK bingo casino, licensed betting offices and multimedia gaming markets. It is by some margin the largest bingo operator in the UK.

Buy £1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 Fitness First Group

Dorset, United Kingdom

Fitness First Group Ltd. is a health club operator in the world with over one million members and over 400 clubs in 15 countries.

Buy £404M
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