M&A Deal Summary

KKR, Ardian, Stockwell Capital and W Capital Partners Acquire First Data

On September 24, 2007, private equity firm KKR, private equity firm Ardian, private equity firm Stockwell Capital and secondary investor W Capital Partners acquired financial services company First Data for 29.0B USD

Acquisition Highlights
  • This is KKR’s 2nd, Ardian’s 1st, Stockwell Capital’s 1st and W Capital Partners’ 1st transaction in the Financial Services sector.
  • This is KKR’s 3rd, Ardian’s 3rd, Stockwell Capital’s 3rd and W Capital Partners’ largest (disclosed) transaction.
  • This is KKR’s 33rd, Ardian’s 12th, Stockwell Capital’s 23rd and W Capital Partners’ 4th transaction in the United States.
  • This is KKR’s 2nd, Ardian’s 1st, Stockwell Capital’s 1st and W Capital Partners’ 1st transaction in Georgia.
Investment Fate
  • First Data went public in 2015.
  • First Data merged with another company in 2019 for 22.0B USD.

M&A Deal Summary
Date 2007-09-24
Target First Data
Sector Financial Services
Buyer(s) KKR
Ardian
Stockwell Capital
W Capital Partners
Deal Type Going Private
Deal Value 29.0B USD
Advisor(s) Morgan Stanley (Financial)
Sidley (Legal)

Target

First Data

Atlanta, Georgia, United States
First Data's corporate headquarters in Atlanta, Georgia.
First Data's corporate headquarters in Atlanta, Georgia.
First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

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Buyer(S) 4

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 60 of 483
Sector (Financial Services) 2 of 21
Type (Going Private) 11 of 37
State (Georgia) 2 of 7
Country (United States) 33 of 210
Year (2007) 9 of 15
Size (of disclosed) 3 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-21 FL Selenia

Villastellone, TO, Italy

FL Selenia is a leading player in the development, manufacture and sale of lubricants and functional fluids for passenger, commercial and agricultural vehicles, and for industrial applications.

Sell €1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-25 Biomet

Warsaw, Indiana, United States

Biomet, Inc. is a designs and manufactures orthopedic medical devices and other products used primarily by surgeons and medical specialists, with distribution in over 70 countries and a product portfolio that encompasses orthopedic joint replacement products, dental reconstructive implants, fixation devices, spinal products and other applications.

Buy $11.4B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 93 of 418
Sector (Financial Services) 1 of 4
Type (Going Private) 2 of 15
State (Georgia) 1 of 7
Country (United States) 12 of 59
Year (2007) 20 of 28
Size (of disclosed) 3 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-20 Sateco

Mirebeau, France

Sateco is a French provider of metal formworks and safety platforms. Sateco designs and manufactures metal formworks and safety platforms, which are sold to clients primarily in the construction industry. The business also offers complementary services such as equipment rental, maintenance, technical support and training. Sateco was founded in 1953 and is based in Mirebeau, France.

Sell €18M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-10 Energy Future Holdings

Dallas, Texas, United States

Energy Future Holdings Corp., formerly TXU Corp., is a Dallas-based, privately held energy company with a portfolio of competitive and regulated energy companies. These businesses serve the high-growth Texas electricity market, which is one of world's largest and among the nation's most successful competitive markets.

Buy $44.4B
Buyer

Stockwell Capital

Austin, Texas, United States

Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stockwell Capital is a co-investment firm, focused on making minority investments alongside private equity sponsors. Stockwell is a generalist investor, with no sector preferences and looks to commit $3 to $10 million per investment. The Firm will consider opportunities throughout the US and Europe and prefers late-stage or growth equity situations. Stockwell Capital was formed in 2002 and is based in Chicago.

DEAL STATS #
Overall 31 of 44
Sector (Financial Services) 1 of 1
Type (Going Private) 8 of 12
State (Georgia) 1 of 1
Country (United States) 23 of 35
Year (2007) 4 of 9
Size (of disclosed) 3 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-17 Laureate

Miami, Florida, United States

Laureate is a provider of higher education. The company’s network of 60 accredited campus-based and online universities offers undergraduate and graduate degree programs to more than 740,000 students across 29 countries. Laureate offers more than 130 career-focused, undergraduate, master’s, and doctoral degree programs in fields including architecture, art, business, culinary arts, design, education, engineering, health sciences, hospitality, information technology, law, and medicine. Laureate was founded in 1998 and is based in Baltimore, Maryland.

Buy $3.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-27 Scitor

Reston, Virginia, United States

Scitor Corp. is a provider of engineering, financial, management, and related services to the corporate customers. The company offers services for acquisition and life cycle management support, business process improvement, configuration management, facilitation services, feasibility assessments, and integrated logistics support. Scitor was formed in 1979 and is based in Reston, Virginia.

Buy -
Buyer

W Capital Partners

Investor Investor Investor Investor Investor

Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners is based in New York City.

DEAL STATS #
Overall 4 of 20
Sector (Financial Services) 1 of 2
Type (Going Private) 1 of 2
State (Georgia) 1 of 1
Country (United States) 4 of 20
Year (2007) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-13 Brainshark

Waltham, Massachusetts, United States

Brainshark provides web-based applications that enable users to communicate more quickly and effectively using voice-enriched on demand presentations that can be created and viewed at each person's own schedule and convenience. Brainshark was founded in 1997 and is based in Waltham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-04-09 MindBody

San Luis Obispo, California, United States

MindBody is a technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and build their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. MindBody was formed in 2001 and is based in San Luis Obispo, California.

Buy -
Mergr

Product

Company

Legal