M&A Deal Summary

UGI Acquires Antargaz SA

On August 1, 2004, UGI acquired energy services and equipment company Antargaz SA from PAI Partners

Acquisition Highlights
  • This is UGI’s 1st transaction in the Energy Services and Equipment sector.
  • This is UGI’s 1st transaction in France.

M&A Deal Summary

Date 2004-08-01
Target Antargaz SA
Sector Energy Services and Equipment
Buyer(s) UGI
Sellers(s) PAI Partners
Deal Type Add-on Acquisition

Target

Antargaz SA

Courbevoie, France
Antargaz is the #2 distributor of liquefied petroleum gas ("LPG") in cylinders and bulk in France. In 2004, the company generated €680m in sales and employed 1,200 people.

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Buyer(S) 1

Buyer

UGI

King of Prussia, Pennsylvania, United States

Category Company
Founded 1882
Sector Utilities
Employees9,750
Revenue 7.2B USD (2024)
DESCRIPTION

UGI is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes propane both domestically and internationally, manages midstream energy and electric generation assets in Pennsylvania, and engages in energy marketing in the Mid-Atlantic region. UGI was founded in 1882 and is based in King of Prussia, Pennsylvania.


DEAL STATS #
Overall 1 of 8
Sector: Energy Services and Equipment M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 4
Country: France M&A 1 of 2
Year: 2004 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-14 Shell Gas Hungary Zrt.

Budaörs, Hungary

Shell Gas Hungary Zrt. delivered approximately 300 million gallons of LPG.

Buy -

Seller(S) 1

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 28.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 4 of 52
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 19
Country: France M&A 4 of 24
Year: 2004 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-09 Vivarte SAS

Paris, France

Vivarte is the #1 footwear and clothing retailer in France with an extensive portfolio of brands (including La Halle aux Chaussures, Chaussland, André, San Marina, Minelli in the shoe sector and La Halle, Kookaï, Liberto, Caroll in clothing). The company has a very strong position in the "value for money" segment of the market and is also active in Spain and Switzerland.

Buy €1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Kereis

Paris, France

Kereis is a pioneer in protection insurance brokerage both in France and Europe, and specializes in credit protection. The company has invested significantly over the past years to diversify its distribution channels and develop its digital offering. Kereis was founded in 1991 and is based in Paris, France.

Buy -