M&A Deal Summary

TA Associates and Antin Infrastructure Partners Acquire Babilou

On April 4, 2017, private equity firm TA Associates and infrastructure investor Antin Infrastructure Partners acquired consumer services company Babilou from Cobepa and RAISE France

Acquisition Highlights
  • This is TA Associates’ 2nd and Antin Infrastructure Partners’ 2nd transaction in the Consumer Services sector.
  • This is TA Associates’ 6th and Antin Infrastructure Partners’ 3rd transaction in France.

M&A Deal Summary

Date 2017-04-04
Target Babilou
Sector Consumer Services
Buyer(s) TA Associates
Antin Infrastructure Partners
Sellers(s) Cobepa
RAISE France
Deal Type Secondary Buyout
Advisor(s) Rothschild Global Advisory
Acetis Finance
KPMG Corporate Finance (Financial)
Linklaters
Jeausserand Audouard
Reboul & Associes (Legal)

Target

Babilou

Bois Colombes, France
Babilou is a provider of daycare services. Serving children under the age of three, Babilou primarily runs company-owned and operated nurseries serving corporate clients and municipalities, as well as a booking platform offering access to daycare spots at partner nurseries. Babilou has also expanded internationally and now operates more than 550 nurseries in France, Germany, Belgium, Dubai, and Switzerland. Babilou was founded in 2003 and is based in Bois Colombes, France.

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Buyer(S) 2

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 262 of 374
Sector: Consumer Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 33 of 74
Country: France M&A 6 of 12
Year: 2017 M&A 11 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-03 RealTruck

Ann Arbor, Michigan, United States

RealTruck is a designer, manufacturer and marketer of branded consumer accessories for pickup trucks. RealTruck also produces truck bed liners under the BedRug brand. RealTruck was founded in 2007 and is based in Ann Arbor, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 Apex Group

Hamilton, Bermuda

Apex Group is a global financial services provider offering fund administration, corporate solutions, and capital market services across 50+ countries. Apex Group was founded in 2003 and is based in Hamilton, Bermuda.

Buy -
Buyer

Antin Infrastructure Partners

Paris, France

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2007
PE ASSETS 31.0B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Antin Infrastructure Partners is an infrastructure investment firm focused on opportunities throughout the Europe. Antin looks for assets with low technology risk and limited operating risk. Specific areas of interest include transportation (toll roads, airports, ports, car parks), energy/environment (gas storage, LNG terminals, energy transmission, distribution, water infrastructure, waste management), and telecom (GSM towers, ADSL networks, broadcast networks, cable networks, and satellites). The lead sponsor of Antin is BNP Paribas. Antin Infrastructure Partners was established in 2007 and is based in Paris.


DEAL STATS #
Overall 15 of 41
Sector: Consumer Services M&A 2 of 3
Type: Secondary Buyout M&A Deals 3 of 11
Country: France M&A 3 of 5
Year: 2017 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-10 Westerleigh Group

Bristol, United Kingdom

Westerleigh Group is an independent owner and operator of crematoria in the UK. Westerleigh Group was founded in 1990 and is based in Bristol, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-23 Kisimul

Lincoln, United Kingdom

Kisimul is a provider of residential education and care services to children and adults with severe learning difficulties, autism, challenging behaviour, Asperger syndrome and other related disabilities. Kisimul was founded in 1977 and is based in Lincoln, United Kingdom.

Buy -

Seller(S) 2

SELLER

Cobepa

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1957
PE ASSETS 4.7B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Cobepa is a global investment group focused on growth capital investments (acquiring significant minority stakes) and leveraged buyout transactions. Cobepa invests in established companies with business models, sustainable market positions, and strong management teams. Sectors of interest include transportation, industrial, retail, financial services, and business services. The Firm generally pursues opportunities throughout Europe and North America, however Cobepa also targets opportunities in Asia and South America. Cobepa was originally established in 1957 and is headquartered in Brussels, Belgium


DEAL STATS #
Overall 11 of 22
Sector: Consumer Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 10
Country: France M&A 3 of 9
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 HG International

Almere, Netherlands

HG International is a European supplier of specialist consumer cleaning and maintenance products. HG manufactures, distributes and sells a comprehensive assortment of over 200 specialty cleaning and maintenance solutions, including products for bathrooms, kitchens, fabrics, gardens, floors and furniture. HG International was formed in 1969 and is based in Almere, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-20 Sapec

Brussels, Belgium

Sapec is a mining and chemical company, that has since broadened its activities in various industrial and service sectors, with a view to an industrial holding company controlling the management of disputes. business rents. The Group, as an investor, endeavors to generate added value by pursuing the following objectives: to manage a diversified portfolio of activities capitalizing on the knowledge and how of the Group in the fields of agriculture, animal nutrition, chemicals, the environment, and logistics services, mainly in the Iberian geographical area or other high-potential markets; to develop sustainable competitive positions, either by acquiring leadership or by exploiting niche situations in sectors of activity offering growth potential. Sapec was formed in 1926 and is based in Brussels, Belgium.

Sell -
SELLER

RAISE France

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2013
PE ASSETS 510M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

RAISE France is a private investment firm focused on investing in growth-oriented French companies with €30 to €500 million of revenue. Raise looks for situations where its capital and expertise can increase opportunities for expansion as well as further internal development. RAISE France was formed in 2013 and is based in Paris.


DEAL STATS #
Overall 1 of 7
Sector: Consumer Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 4
Country: France M&A 1 of 7
Year: 2017 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-20 CARSO

Vénissieux, France

CARSO is a provider of environmental and agrifood analytical services. CARSO offers analyses of dioxins, pesticides, metals, drug residues, organic compounds, bacteria, parasites, viruses, GMOs, BSE tests, asbestos, eco-toxicology, radioactivity, materials in contact with water, physicochemical properties, etc. CARSO was founded in 1992 and is based in Vénissieux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 La Maison du Whisky

Clichy, France

La Maison du Whisky is a distributor of more than 3,000 references of whiskeys and spirits in its various distribution networks. La Maison du Whisky was founded in 1956 and is based in Clichy, France.

Buy -