M&A Deal Summary

TPG and Ivanhoe Cambridge Acquire P3 Parks

On October 16, 2013, private equity firm TPG and Ivanhoe Cambridge acquired real estate company P3 Parks from Arcapita

Acquisition Highlights
  • This is TPG’s 5th and Ivanhoe Cambridge’s 1st transaction in the Real Estate sector.
  • This is TPG’s 1st and Ivanhoe Cambridge’s 1st transaction in Czech Republic.
Investment Fate
  • P3 Parks was sold to a consortium of buyers in 2016 for 2.4B EUR.

M&A Deal Summary

Date 2013-10-16
Target P3 Parks
Sector Real Estate
Buyer(s) TPG
Ivanhoe Cambridge
Sellers(s) Arcapita
Deal Type Secondary Buyout

Target

P3 Parks

Prague , Czech Republic
P3 Parks is a logistics real estate operating company active in managing, leasing, and developing logistics warehouses. P3’s mission is to provide warehouse customers with a first-rate occupancy experience in high-quality assets in key logistics locations. P3 Parks was founded in 2001 and is based in Prague, Czech Republic.

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Buyer(S) 2

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 223 of 451
Sector: Real Estate M&A 5 of 12
Type: Secondary Buyout M&A Deals 18 of 75
Country: Czech Republic M&A 1 of 1
Year: 2013 M&A 25 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-11 CardioDx

Redwood City, California, United States

CardioDx, Inc. is a molecular diagnostics company that serves cardiologists and their patients by offering clinically validated genomic tests to enhance patient care. The company is focused on the personalized management of patients with congestive heart failure, rhythm disturbances and atherosclerosis.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-25 Aerie

Durham, North Carolina, United States

Aerie is a pharmaceutical company focused on the discovery, development, and commercialization of first-in-class ophthalmic therapies for the treatment of patients with eye diseases and conditions including open-angle glaucoma, dry eye, and diabetic macular edema (DME) and wet age-related macular degeneration (wet AMD). Aerie was founded in 2005 and is based in Durham, North Carolina.

Sell -
Buyer

Ivanhoe Cambridge

Montreal, Quebec, Canada

Category Company
Founded 1953
Sector Real Estate
DESCRIPTION

Ivanhoe Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. Ivanhoe Cambridge was established in 1953 and is based in Montreal, Quebec.


DEAL STATS #
Overall 1 of 3
Sector: Real Estate M&A 1 of 3
Type: Secondary Buyout M&A Deals 1 of 1
Country: Czech Republic M&A 1 of 1
Year: 2013 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-07 P3 Parks

Prague , Czech Republic

P3 Parks is a logistics real estate operating company active in managing, leasing, and developing logistics warehouses. P3’s mission is to provide warehouse customers with a first-rate occupancy experience in high-quality assets in key logistics locations. P3 Parks was founded in 2001 and is based in Prague, Czech Republic.

Sell €2.4B

Seller(S) 1

SELLER

Arcapita

Manama, Bahrain

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1997
Size Mega
Type Sector Agnostic
DESCRIPTION

Arcapita is a private investment firm with separate investment disciplines spanning venture capital, corporate investment, real estate, and asset-based investments. Arcapita's Corporate Investment practice looks to acquire controlling interests in established companies valued between $50 million and $500 million. Sectors of interest include consumer products/services, healthcare, energy, technology, and manufacturing. Arcapita's infrastructure team looks to invest $50 to $300 million in energy, water, and transportation assets. The Firm will consider opportunities around the globe; including the United States, Latin America, Russia, China, Europe, Middle-East, and India. Arcapita was formed 1997 and has offices in Manama, Bahrain; Atlanta, Georgia; London; and Singapore.


DEAL STATS #
Overall 23 of 33
Sector: Real Estate M&A 1 of 2
Type: Secondary Buyout M&A Deals 3 of 9
Country: Czech Republic M&A 1 of 1
Year: 2013 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-16 XPO Last Mile

Marietta, Georgia, United States

3PD, Inc. is a nationwide last mile, home delivery logistics provider, specializing in heavy items including appliances, building materials, and other heavy goods.

Sell $365M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-10 Varel Energy Solutions

Houston, Texas, United States

Varel Energy Solutions is a manufacturer and supplier of high-quality roller cone and fixed cutter drill bits. The company's proprietary design capabilities, efficient manufacturing, and global sales force uniquely position to provide drill bits that deliver outstanding performance and value to customers. VIES is comprised of three business units: Varel Oil & Gas Drill Bits, Varel Mining, and Downhole Products. Varel Energy Solutions was founded in 1947 and is based in Houston, Texas.

Sell $740M