M&A Deal Summary

Toshiba Acquires Landis+Gyr AG

On May 19, 2011, Toshiba acquired communications company Landis+Gyr AG from Hudson Sustainable Investment Management, Propel Investments Pty and Dubai International Capital for 2.3B USD

Acquisition Highlights
  • This is Toshiba’s 1st transaction in the Communications sector.
  • This is Toshiba’s largest (disclosed) transaction.
  • This is Toshiba’s 1st transaction in Switzerland.

M&A Deal Summary

Date 2011-05-19
Target Landis+Gyr AG
Sector Communications
Buyer(s) Toshiba
Sellers(s) Hudson Sustainable Investment Management
Propel Investments Pty
Dubai International Capital
Deal Type Add-on Acquisition
Deal Value 2.3B USD

Target

Landis+Gyr AG

Zug, Switzerland
Landis & Gyr (Europe) AG develops and manufactures payphones and remote transaction systems for payphone operators, site providers, and equipment integrators.

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Buyer(S) 1

Buyer

Toshiba

Tokyo, Japan

Category Company
Founded 1875
Sector Electronics
Employees116,224
Revenue 3.34T JPY (2022)
DESCRIPTION
Toshiba's corporate headquarters in Tokyo, Japan.
Toshiba's corporate headquarters in Tokyo, Japan.

Toshiba is a multinational engineering and electronics conglomerate. The Company manufactures and sells cellular phones, hard disc devices, optical disc devices, and televisions amongst other products. Toshiba was founded in 1875 and is based in Tokyo, Japan.


DEAL STATS #
Overall 3 of 5
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (Switzerland) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-23 J-Devices

Usuki City, Japan

J-Devices Corp. is a provider of semiconductor assembly and test services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-29 Toshiba Electronics Malaysia Sdn. Bhd.

Kuala Langat, Malaysia

Toshiba Electronics Malaysia Sdn. Bhd. is a supplier of packaging and test services for certain discrete semiconductor products and analog LSI products.

Sell -

Seller(S) 3

SELLER

Hudson Sustainable Investment Management

Miami, Florida, United States

Category Private Equity Firm
Founded 2007
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Hudson Clean Energy Partners is a private equity firm focused on investments in clean energy. Hudson invests in companies focused on renewable power, alternative fuels, energy storage and demand-side energy management. The Firm prefers high-growth, asset based opportunities. Hudson Clean Energy Partners was formed in 2007 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 2 of 7
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 2 of 4
Country (Switzerland) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-28 Green Campus Partners

Edison, New Jersey, United States

Green Campus Partners is a pioneering development and financial solutions firm for the rapidly expanding energy efficiency and distributed generation markets. GCP focuses on development, financing, and implementation of projects in two key energy services segments: energy efficiency and distributed generation. Green Campus Partners was founded in 2009 and is based in Edison, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Powermat Technologies

Petah Tikva , Israel

Powermat Technologies develops wireless charging solutions for mobile devices. Powermat Technologies was founded in 2006 and is based in Petah Tikva, Israel.

Buy -
SELLER

Propel Investments Pty

Pyrmont, Australia

Category Private Equity Firm
Founded 2007
PE ASSETS 447M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Propel investments is middle-market private equity firm focused on buyout, buy-in, and expansion investments in Australia and New Zealand. Propel looks to invest AU$20 to $80 million in established businesses valued between AU$50 to AU$250 million. Target industries include business services, financial services, retail/wholesale, bulk storage facilities, consumer products, and healthcare. Propel Investments was formed in 2007 and is based in Sydney.


DEAL STATS #
Overall 7 of 12
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 4 of 6
Country (Switzerland) 1 of 1
Year (2011) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-19 Invocare

North Sydney, Australia

InvoCare engages in the ownership and operation of funeral homes, cemeteries, and crematoria primarily in Australia. InvoCare was founded in 2001 and is based in North Sydney, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-15 Bledisloe Holdings Pty

Brisbane, Australia

Bledisloe was one of the provider of funeral services in Australia and also operated private cemeteries and crematoria in Queensland.

Sell $114M
SELLER

Dubai International Capital

Dubai, United Arab Emirates

Category Private Equity Firm
Founded 2004
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Dubai International Capital is private equity firm focused on a broad range of investments in the Middle East, Western Europe, and North America. The Firm is a subsidiary of Dubai Holding and was formed in 2004.


DEAL STATS #
Overall 2 of 6
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (Switzerland) 1 of 1
Year (2011) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-14 Alliance Medical

Warwick, United Kingdom

Alliance Medical provides a range of diagnostic imaging services (including MRI, CT and PET) used in both private and publicly owned hospitals across Europe. Alliance Medical was founded in 1989 and is based in Warwick, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-29 KEF Holdings

Sharjah, United Arab Emirates

KEF is a fully integrated valve manufacturer and one of the providers of steel castings to the oil and gas, chemical, mining and power industries.

Sell $300M