M&A Deal Summary

Sagard, Equistone and Intermediate Capital Group Acquire FläktGroup

On September 20, 2007, asset manager Sagard, private equity firm Equistone and mezzanine finance firm Intermediate Capital Group acquired building materials company FläktGroup from Compass Partners International for 460M EUR

Acquisition Highlights
  • This is Sagard’s 3rd, Equistone’s 3rd and Intermediate Capital Group’s 9th transaction in the Building Materials sector.
  • This is Sagard’s 4th, Equistone’s 2nd and Intermediate Capital Group’s 42nd largest (disclosed) transaction.
  • This is Sagard’s 1st, Equistone’s 17th and Intermediate Capital Group’s 19th transaction in Germany.
Investment Fate
  • FläktGroup was sold to a consortium of financial buyers in 2016.

M&A Deal Summary
Date 2007-09-20
Target FläktGroup
Sector Building Materials
Buyer(s) Sagard
Equistone
Intermediate Capital Group
Sellers(s) Compass Partners International
Deal Type Secondary Buyout
Deal Value 460M EUR
Advisor(s) Canaccord Genuity Corp. (Financial)

Target

FläktGroup

Herne, Germany
FläktGroup is a provider of ventilation and air climate solutions for buildings as well as air movement solutions for industry and infrastructure applications. Fläkt has built up expertise in applications by delivering top BREEAM, LEED, DGNB or HQE solutions for major projects for: offices, hotels, hospitals, airports, and commercial construction projects including specialist applications like data-centers, pharmaceutical, marine, nuclear, oil and gas all over the world. FläktGroup was formed in 2002 and is based in Herne, Germany.

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Buyer(S) 3

Buyer

Sagard

Paris, France

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2001
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Sagard is a multi-strategy alternative investment manager that invests across a variety of asset classes. These include private equity, public equity, private credit, royalties, and venture capital. Prospective transactions typically include buyouts or growth capital financings, where Sagard will consider either majority or minority positions. Sagard was formed in 2001 and is based in Montreal, Quebec.

DEAL STATS #
Overall 17 of 40
Sector (Building Materials) 3 of 4
Type (Secondary Buyout) 7 of 17
Country (Germany) 1 of 1
Year (2007) 6 of 6
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-04-25 CEVA Sante Animale

Libourne, France

CEVA Sante Animale is a veterinary health company focused on the research, development, production and marketing of pharmaceutical products and vaccines for pets, livestock, swine, and poultry. CEVA Sante Animale was founded in 1999 and is based in Libourne, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-16 CEPL

Beville-le-Comte, France

CEPL is a contract logistics company specializing in the high-growth, detailed picking segment of the warehouse logistics industry with operations in France and Germany. CEPL was founded in 1998 and is based in Beville-le-Comte, France.

Sell -
Buyer

Equistone

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 9.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Equistone is a private equity firm that invests in small to mid-sized companies valued from €50 to €500 million. Equistone targets companies operating in the fields of services, healthcare, financial services, and consumer/travel. The Firm looks to invest €25 to €200 million in a variety of transactions, including buyouts, growth capital financings, recapitalizations, and take privates. Equistone was formed in 1997 and is based in London, England.

DEAL STATS #
Overall 133 of 253
Sector (Building Materials) 3 of 7
Type (Secondary Buyout) 22 of 85
Country (Germany) 17 of 42
Year (2007) 13 of 18
Size (of disclosed) 2 of 55
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-18 Retif Group

Villeneuve-Loubet, France

Retif Group is a retailer of furniture, lighting, signage, labeling, security equipment, displays, stacking solutions, packing, disposable items, and maintenance products. Retif Group was established in 1968 and is based in Villeneuve-Loubet, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-01 avocis AG

Tagerwilen, Switzerland

avocis offers multilingual services in the areas of technical support, user helpdesks, outbound and inbound services and services for SMEs.

Buy -
Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 198 of 292
Sector (Building Materials) 9 of 12
Type (Secondary Buyout) 53 of 114
Country (Germany) 19 of 24
Year (2007) 26 of 33
Size (of disclosed) 42 of 82
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-18 Retif Group

Villeneuve-Loubet, France

Retif Group is a retailer of furniture, lighting, signage, labeling, security equipment, displays, stacking solutions, packing, disposable items, and maintenance products. Retif Group was established in 1968 and is based in Villeneuve-Loubet, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-24 The Hoyts Pty.

Sydney, Australia

Hoyts manages entertainment corporations. The company owns and operates 45 cinemas with over 400 screens and approximately 75,000 seats in Australia and New Zealand. In both of these countries it is the largest independent film distributor and provider of cinema advertising.

Buy $440M

Seller(S) 1

SELLER

Compass Partners International

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 850M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Compass Partners International is a European private equity firm that targets investments in middle-market industrial manufacturing and services companies. Compass seeks controlling interests in 'under-managed' or capital-constrained businesses valued from €100 million to €750 million. Areas of interest include infrastructure, HVAC, aerospace/defense, capital goods, vending, controls/components, and machinery/equipment. The Firm will consider a variety of transaction situations, including turnarounds, recapitalization, corporate carve-outs, and growth capital financings. Compass Partners International was formed in 1997 and is based in London.

DEAL STATS #
Overall 6 of 9
Sector (Building Materials) 1 of 1
Type (Secondary Buyout) 3 of 5
Country (Germany) 1 of 2
Year (2007) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-25 ECO

Udine, Italy

ECO SpA is a manufacturer of coils and coolers for the Heating, Ventilation, Air-Conditioning and Refrigeration industries (HVACR).

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Drake Beam Morin

New York, New York, United States

Drake Beam Morin, Inc. is a service provider in the career transition, talent development services.

Sell €149M
Mergr

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