M&A Deal Summary

The Carlyle Group and Kennet Partners Acquire FRS Belgium NV

On August 13, 2006, private equity firm The Carlyle Group and growth capital firm Kennet Partners acquired software company FRS Belgium NV from S1

Acquisition Highlights
  • This is The Carlyle Group’s 20th and Kennet Partners’ 4th transaction in the Software sector.
  • This is The Carlyle Group’s 2nd and Kennet Partners’ 1st transaction in Belgium.
Investment Fate
  • FRS Belgium NV was sold to a strategic buyer in 2010.

M&A Deal Summary

Date 2006-08-13
Target FRS Belgium NV
Sector Software
Buyer(s) The Carlyle Group
Kennet Partners
Sellers(s) S1
Deal Type Divestiture

Target

FRS Belgium NV

St. Stevens-Woluwe, Belgium
FRS Belgium NV is a provider of software for risk management and regulatory compliance for financial market in the United States and internationally.

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Buyer(S) 2

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 245 of 749
Sector: Software M&A 20 of 57
Type: Divestiture M&A Deals 25 of 74
Country: Belgium M&A 2 of 5
Year: 2006 M&A 36 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-06 GE AVIO S.r.l.

Rivalta, TO, Italy

Avio is a designers and manufacturers of components and systems for commercial, military and space launch engines. Its activities include jet derivative engines and automation systems for naval and industrial applications, power generation and a highly successful maintenance, repair and overhaul operation for civil and military clients.

Sell €2.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-17 Ziggo

Groningen, Netherlands

Ziggo is a cable operator in the Netherlands, providing analogue and digital television, broadband and telephony services to consumers and businesses. Ziggo was founded in 2007 and is based in Groningen, Netherlands.

Sell €2.1B
Buyer

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.


DEAL STATS #
Overall 12 of 42
Sector: Software M&A 4 of 15
Type: Divestiture M&A Deals 1 of 1
Country: Belgium M&A 1 of 1
Year: 2006 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-01 Sequans Communications

Paris, France

Sequans Communications is a supplier of subscriber station and base station chipsets for both Fixed and Mobile WiMAX. Sequans offers equipment manufacturers the most complete and powerful WiMAX chips available today, enabling them to build the widest range of high performing WiMAX network components. Sequans Communications was founded in 2003 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-16 Cramer Systems Group

London, United Kingdom

Cramer Systems is a provider of operations and support systems software (OSS) to the global telecommunications industry.

Sell $375M

Seller(S) 1

SELLER

S1

Norcross, Georgia, United States

Category Company
Sector Software
DESCRIPTION

S1 Corporation has been developing software products that offer flexibility and reliability. Over 3,000 organizations worldwide depend on S1 for payments, online banking, mobile banking, voice banking, branch banking and lending solutions that deliver a competitive advantage.


DEAL STATS #
Overall 1 of 1
Sector: Software M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Belgium M&A 1 of 1
Year: 2006 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-20 Q UP Systems

Austin, Texas, United States

Q UP Systems is a business-to-business software company specializing in financial interactive web-based products for community financial institutions under $10 billion.

Buy -