M&A Deal Summary

LDC, Palamon Capital Partners and The Carlyle Group Acquire mydentist

On January 27, 2011, private equity firms LDC, Palamon Capital Partners and The Carlyle Group acquired healthcare services company mydentist from European Capital and Ridgemont Equity Partners

Acquisition Highlights
  • This is LDC’s 6th, Palamon Capital Partners’ 4th and The Carlyle Group’s 12th transaction in the Healthcare Services sector.
  • This is LDC’s 94th, Palamon Capital Partners’ 10th and The Carlyle Group’s 21st transaction in the United Kingdom.

M&A Deal Summary

Date 2011-01-27
Target mydentist
Sector Healthcare Services
Buyer(s) LDC
Palamon Capital Partners
The Carlyle Group
Sellers(s) European Capital
Ridgemont Equity Partners
Deal Type Secondary Buyout
Advisor(s) Canaccord Genuity (Financial)

Target

mydentist

Manchester, United Kingdom
mydentist is a provider of dental treatments for patients through a network of National Health Service(NHS). mydentist was founded in 1996 and is based in Manchester, United Kingdom.

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Buyer(S) 3

Buyer

LDC

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 3.6B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.


DEAL STATS #
Overall 99 of 304
Sector (Healthcare Services) 6 of 12
Type (Secondary Buyout) 12 of 57
Country (United Kingdom) 94 of 292
Year (2011) 2 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-22 Smoove

Oxfordshire, United Kingdom

Smoove is a provider of software solutions by offering greater choice and efficient solutions to the housing market. Smoove products have helped home movers, conveyancing professionals and estate agents to save time and improve communication between parties. Smoove was founded in 2003 and is based in Oxfordshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-09 Compleat Food Group

Redhill, United Kingdom

Compleat Food Group is a chilled savoury pastry producer which also offers meat products, olives and antipasti, cooking sausages, pâtés, seafood, heat and eat products, snacking and dips, and sweets. Compleat Food Group was founded in 1962 and is based in Redhill, United Kingdom.

Buy -
Buyer

Palamon Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Palamon Capital Partners LP is a private equity firm that targets investments in high-growth service-oriented businesses throughout Europe. Palamon specifically looks for companies operating in business services, financial services, media and communications, leisure and entertainment, information technology, and healthcare. The Firm's target investment size is €30 to €100 million. Funds are generally used to support development needs, however, Palamon will also consider investing in early-stage businesses, recapitalizations, deleveraging transactions, turnarounds, and buyouts. Palamon Capital Partners LP was formed in 1999 and is based in London.


DEAL STATS #
Overall 25 of 38
Sector (Healthcare Services) 4 of 6
Type (Secondary Buyout) 1 of 4
Country (United Kingdom) 10 of 17
Year (2011) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-07 VENI Energy Group

Drammen, Norway

VENI Energy Group is a supplier of corporate energy services. VENI Energy Group provides a range of services aimed at reducing energy costs for the SME sector as well as large corporate and public authorities. VENI Energy Group was founded in 1995 and is based in Drammen, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-01 Loyalty Partner

Munich, Germany

Loyalty Partner GmbH is a provider of customer relationship management solutions.

Sell $685M
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 390 of 744
Sector (Healthcare Services) 12 of 28
Type (Secondary Buyout) 35 of 130
Country (United Kingdom) 21 of 53
Year (2011) 4 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-25 Nielsen

New York, New York, United States

Nielsen is a global information and measurement company that provides clients with a comprehensive understanding of consumers and consumer behaviour. Nielsen delivers critical media and marketing information, analytics, and industry expertise about what consumers buy and what consumers watch (consumer interaction with television, online and mobile) on a global and local basis. Nielsen was founded in 1923 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-28 BankUnited

Miami Lakes, Florida, United States

BankUnited is a bank holding company providing various commercial and consumer banking services. BankUnited was founded in 2009 and is based in Miami Lakes, Florida.

Sell -

Seller(S) 2

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 21 of 54
Sector (Healthcare Services) 1 of 2
Type (Secondary Buyout) 9 of 24
Country (United Kingdom) 4 of 12
Year (2011) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-27 MW Brands

Paris, France

MW Brands is a vertically integrated manufacturer and distributor of ambient seafood, principally canned tuna. It operates the leading French and UK brands: Petit Navire and John West as well as four production facilities located in Seychelles, Ghana, Portugal and France.

Sell €680M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-08 NORMA Group

Maintal, Germany

NORMA Group is a manufacturer of comprehensive range innovative joining-technology products in the clamp, connect and fluid categories and occupies a leading position as a solution provider. NORMA Group was founded in 1896 and is based in Maintal, Germany.

Sell -
SELLER

Ridgemont Equity Partners

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ridgemont Equity Partners is an independent private equity firm specializing in middle-market buy-outs, corporate divestitures, recapitalizations and growth capital investments. The Firm targets to invest in companies located in North America, preferably in US and Canada. REP looks to invest up to $500 million in companies with EBIDTA of $5 - $50 million. The Firm seeks to hold both majority and minority equity interest in portfolio companies. Specific areas of interest include basin industries and services, energy, healthcare, telecommunications, media and technology. Ridgemont Equity Partners is a spun-off of Banc of America Capital Investors (BACI). Ridgemont Equity Partners was formed in August 2010 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 50 of 91
Sector (Healthcare Services) 3 of 7
Type (Secondary Buyout) 9 of 24
Country (United Kingdom) 3 of 4
Year (2011) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-07 Targa Resources

Houston, Texas, United States

Targa Resources is an independent midstream energy companies in the U.S., providing gas gathering, processing, fractionation and transportation through an extensive portfolio of integrated midstream assets. Targa Resources was founded in 2005 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-10 HCA Healthcare

Nashville, Tennessee, United States

HCA Healthcare is a national healthcare service provider. HCA operates general and acute care hospitals with a full range of services to accommodate such medical specialties as internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, as well as diagnostic and emergency services. Outpatient and ancillary health care services are provided by general, acute care hospitals, freestanding surgery centers, diagnostic centers, and rehabilitation facilities. HCA's psychiatric hospitals provide a full range of mental health care services through inpatient, partial hospitalization and outpatient settings. HCA Healthcare was formed in 1968 and is based in Nashville, Tennessee.

Sell -