M&A Deal Summary

Sun Capital Partners and TDR Capital Acquire Keepmoat

On September 8, 2014, private equity firms Sun Capital Partners and TDR Capital acquired construction company Keepmoat from Lloyds Banking Group for 400M GBP

Acquisition Highlights
  • This is Sun Capital Partners’ 3rd and TDR Capital’s 1st transaction in the Construction sector.
  • This is Sun Capital Partners’ 2nd and TDR Capital’s 7th largest (disclosed) transaction.
  • This is Sun Capital Partners’ 19th and TDR Capital’s 11th transaction in the United Kingdom.
Investment Fate
  • Keepmoat was sold to a strategic buyer in 2017 for 330M GBP.

M&A Deal Summary
Date 2014-09-08
Target Keepmoat
Sector Construction
Buyer(s) Sun Capital Partners
TDR Capital
Sellers(s) Lloyds Banking Group
Deal Type Divestiture
Deal Value 400M GBP
Advisor(s) J.P. Morgan Securities (Financial)
Travers Smith (Legal)

Target

Keepmoat

Doncaster, United Kingdom
Keepmoat Ltd. is a provider of integrated affordable housing development and community regeneration services. Keepmoat Ltd. is based in Doncaster, United Kingdom.

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Buyer(S) 2

Buyer

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 123 of 169
Sector (Construction) 3 of 5
Type (Divestiture) 19 of 24
Country (United Kingdom) 19 of 26
Year (2014) 5 of 5
Size (of disclosed) 2 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-18 Strauss Innovation KG

Langenfeld, Germany

Strauss Innovation is a private-label retail chain with approximately 100 stores in Germany. The company is well known for its innovative assortment concept combining interior decorations as well as women's and men's apparel.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-07 American Recreation Products

Boulder, Colorado, United States

American Recreation Products is a provider of outdoor recreation and leisure products, utilizing multiple consumer lifestyle brands through the mass and specialty distribution channels. Brands include Kelty, Royal Robbins, Sierra Designs, Slumberjack, and Wenzel.

Sell -
Buyer

TDR Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 15.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

TDR Capital is a private equity firm that targets large companies valued from €300 million to €1.5 billion. TDR has a particular interest in under-managed, under-invested or misunderstood companies which may be transformed through greater strategic and operational focus. TDR is sector agnostic, however the Firm has a preference for opportunities in the leisure/hospitality, financial services, and business services sectors. TDR Capital was formed in 2002 and is based in London.

DEAL STATS #
Overall 16 of 31
Sector (Construction) 1 of 1
Type (Divestiture) 5 of 8
Country (United Kingdom) 11 of 18
Year (2014) 3 of 4
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-25 VPS

Oldham, United Kingdom

VPS is a provider of vacant property products and services across Europe and the US. VPS provides products and services to both public and commercial customers to maintain and preserve vacant properties and to protect such properties against unauthorized access. VPS was founded in 2003 and is based in Oldham, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-29 Hurtigruten

Tromso, Norway

Hurtigruten is a provider of cruise based, adventure tourism. The company offers authentic, year-round travel experiences along the Norwegian coast and in remote locations across the world on its 15-strong fleet of ships. Hurtigruten was founded in 1893 and is based in Tromso, Norway.

Buy -

Seller(S) 1

SELLER

Lloyds Banking Group

London, United Kingdom
Category Company
Founded 1695
Sector Financial Services
Employees62,569
Revenue 19.2B GBP (2023)
DESCRIPTION

Lloyds Banking Group is a provider of banking and financial services in United Kingdom and internationally. Lloyds Banking Group was founded in 1695 and is based in London, the United Kingdom.

DEAL STATS #
Overall 7 of 9
Sector (Construction) 1 of 1
Type (Divestiture) 6 of 8
Country (United Kingdom) 5 of 5
Year (2014) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-21 Viridium Group

Neu-Isenburg, Germany

Virid­ium Group is a provider of retirement and life insurance products. The foundation of its activities is a customer-focused service organisation combined with efficient portfolio management. Viridium Group was founded in 2013 and is based in Neu-Isenburg, Germany.

Sell €300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-05 Lloyds Trust Company

25 New Street, Channel Islands

Lloyds Trust Company (Channel Islands) Ltd. is a provider of financial services.

Sell -
Mergr

Product

Company

Legal