M&A Deal Summary

Qatari Diar Acquires Cegelec SAS

On October 1, 2008, Qatari Diar acquired energy services and equipment company Cegelec SAS from LBO France, Alpha Group and European Capital for 1.7B EUR

Acquisition Highlights
  • This is Qatari Diar’s 1st transaction in the Energy Services and Equipment sector.
  • This is Qatari Diar’s largest (disclosed) transaction.
  • This is Qatari Diar’s 1st transaction in France.
Investment Fate
  • Cegelec SAS was sold to a strategic buyer in 2010 for 1.0B GBP.

M&A Deal Summary

Date 2008-10-01
Target Cegelec SAS
Sector Energy Services and Equipment
Buyer(s) Qatari Diar
Sellers(s) LBO France
Alpha Group
European Capital
Deal Type Add-on Acquisition
Deal Value 1.7B EUR
Advisor(s) Canaccord Genuity Corp. (Financial)

Target

Cegelec SAS

Saint-Denis, France
Cegelec SAS history is closely linked to the development of the electricity and energy sectors in France and Europe.

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Buyer(S) 1

Buyer

Qatari Diar

Lusail, Qatar

Category Company
Sector Real Estate
DESCRIPTION

Qatari Diar Real Estate Investment Company, wholly owned by the Qatar Investment Authority (QIA).


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (France) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-04-14 Cegelec SAS

Saint-Denis, France

Cegelec SAS history is closely linked to the development of the electricity and energy sectors in France and Europe.

Sell £1.0B

Seller(S) 3

SELLER

LBO France

Paris, France

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1985
PE ASSETS 5.4B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

LBO France is an independent private equity group focused on acquiring majority stakes in French firms, or companies with French management. LBO France manages several funds, each targeting different types of businesses. The Firm's mid-market fund looks to acquire majority or minority stakes in companies valued from €100 million to €2.5 billion. The mid-market fund generally looks at companies with predictable sales, profits and cash flow, but will also consider businesses with under-utilized assets. LBO France's small cap fund targets majority stakes in smaller, profitable businesses valued from €10 to €100 million, with strong potential for growth or consolidation. In addition to its equity funds, LBO France also invests in real estate and provides LBO loans issued by medium-sized European companies (enterprise value between €150m and €2bn). LBO France was formed in 1985 and is based in Paris.


DEAL STATS #
Overall 11 of 55
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 15
Country (France) 9 of 47
Year (2008) 6 of 6
Size (of disclosed) 2 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-10 Converteam SAS

Messy, France

Converteam (formerly Alstom Power Conversion) specialises in the supply of systems and equipemnt which convert electrical energy into mechanical energy, such as: drives, controls, motors and generators.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-14 Pom Alliance SA

Orly, France

Pom'Alliance is a major pioneering player in the European market for fresh potatoes, collecting, packing and selling over 250,000 tons of potatoes per year. Represented throughout France, Pom'Alliance also exports its products using its own name or under distributor brands to Germany, the United Kingdom, Spain, Italy etc. Pom'Alliance, is a group of 250 persons working with one aim in mind - to give you the best the potatoes can offer.

Buy -
SELLER

Alpha Group

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Alpha Group is a European private equity firm specializing in LBOs and development capital investments. The Firm seeks to invest in companies throughout Europe, including Germany, Switzerland, Italy, France, and Benelux as well as some eastern European countries. The Firm seeks to commit €50 to €125 million in companies valued between €100 and €500 million. Alpha typically takes majority control and arranges for founders or key managers to co-invest. Sectors of interest include Consumer & Leisure, Fashion & Design, Industrial Manufacturing and Service & Distibution. Alpha Group was formed in 1985 and is based in Paris.


DEAL STATS #
Overall 22 of 41
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 8
Country (France) 15 of 21
Year (2008) 2 of 2
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 CIFA

Milano, Italy

​CIFA is a concrete equipment manufacturer offering full-line concrete equipments including concrete pumps, concrete mixers, plants, and formworks. CIFA was founded in 1928 and is based in Milano, Italy.

Sell €511M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-01 VCST Industrial Products N.V.

St.-Truiden, Belgium

VCST Industrial Products N.V. is a designer and producer of precision gears for engines and transmissions, transmission shafts and brake system components, for cars, trucks as well as off-road vehicles.

Sell -
SELLER

European Capital

London, United Kingdom

Category Private Equity Firm
Founded 2005
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

European Capital is the European investment affiliate of American Capital. European Capital looks to provide a variety of investment and financing solutions including unitranche debt, mezzanine capital, senior debt, and equity co-investment. Funds are typically used to support buyouts, recapitalizations, finance growth, and make acquisitions. European Capital is sector agnostic, however the Firm has a preference for investments in the consumer, technology, manufacturing, services, and distribution sectors. European Capital was formed in 2005 and is based in London.


DEAL STATS #
Overall 13 of 54
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 6 of 17
Country (France) 4 of 19
Year (2008) 5 of 5
Size (of disclosed) 4 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-26 Avery Weigh-Tronix

Fairmont, Minnesota, United States

Avery Weigh-Tronix LLC, a supplier of scales, weighing equipment and solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-19 Dockwise

Breda, Netherlands

Dockwise Ltd. is a marine contractor providing total transport services to the offshore, onshore and yachting industries as well as installation services of extremely heavy offshore platforms. The Group is headquartered in Breda, the Netherlands. The Group's main commercial offices are located in the Netherlands, the United States and China with sales offices in Korea, Australia, Brazil, Russia, Singapore, Malaysia, Mexico and Nigeria. The Dockwise Yacht Transport business unit is headquartered in Fort Lauderdale and has an office in Italy. The Dockwise Shipping network is supported by agents in Norway, Argentina and Italy.

Sell -