Add-on Acquisition • Automotive

Valeo Acquires FTE Automotive

On June 2, 2016, Valeo acquired automotive company FTE Automotive from Bain Capital Private Equity for 819M EUR

Acquisition Context
  • This is Valeo’s 6th transaction in the Automotive sector.
  • This is Valeo’s largest (disclosed) transaction.
  • This is Valeo’s 3rd transaction in Germany.

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M&A Deal Summary

Date June 2, 2016
Target FTE Automotive
Sector Automotive
Buyer(s) Valeo
Sellers(s) Bain Capital Private Equity
Deal Type Add-on Acquisition
Deal Value 819M EUR

Target Company

FTE Automotive

Ebern, Germany
FTE automotive, headquartered in Germany, is a producer of clutch and gear actuators. Its product portfolio and customer base are highly complementary to Valeo’s. The company has 3,700 employees and a diversified industrial footprint in eight countries, including Germany, the Czech Republic, Slovakia, Mexico and China.
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Buyer Overview 1

Buyer

Valeo

Paris, France

Category Company
Founded 1923
Sector Automotive
Employees106,100
Revenue 21.5B EUR (2024)
DESCRIPTION

Valeo is an automotive provider, partner to all automakers worldwide. Valeo was founded in 1923 and is based in Paris, France.


Deal Context for Buyer #
Overall 9 of 11
Sector: Automotive 6 of 6
Type: Add-on Acquisition 6 of 7
Country: Germany 3 of 4
Year: 2016 2 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-08 peiker acustic & Co. KG

Friedrichsdorf, Germany

peiker acustic GmbH & Co. KG is a major supplier of onboard telematics and mobile connectivity solutions. peiker supplies connectivity modules that are suitable for use in vehicles and enable fast and reliable data transmission on the road. Packaged together as the “connected car”, these modules open the door to the Internet, navigation tools and manufacturer-specific assisted services as well as emergency call (eCall) features.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-10 CloudMade

London, United Kingdom

CloudMade Ltd. is a developer of smart and innovative big data-driven automotive solutions such as a machine learning platform. CloudMade is a pioneering start-up in machine learning and artificial intelligence, with a focus on designing applications for the car industry.

Buy -

Seller Profile 1

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


Deal Context for Seller #
Overall 83 of 152
Sector: Automotive 4 of 5
Type: Add-on Acquisition 23 of 41
Country: Germany 5 of 8
Year: 2016 6 of 15
Size (of disclosed) 28 of 45
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-26 Maisons du Monde

Vertou, France

Maisons du Monde is a creator of inspirational lifestyle universes in the homeware industry, offering distinctive and affordable decoration and furniture collections that showcase multiple styles. The Group develops its business through an integrated and complementary omnichannel approach, leveraging its international network of stores, websites, and catalogs. Maisons du Monde was founded in 1996 and is based in Vertou, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-12 Blue Coat Systems

Sunnyvale, California, United States

Blue Coat is an enterprise security, providing on-premise, hybrid and cloud-based solutions for protecting web connectivity, combating advanced threats and responding to security breaches. Blue Coat is the global market leader in securing connection to the web and counts nearly 80 percent of the Global Fortune 500 as its customers.

Sell $4.7B