M&A Deal Summary

Warburg Pincus and The Carlyle Group Acquire Duravant

On June 16, 2017, private equity firms Warburg Pincus and The Carlyle Group acquired machinery company Duravant from Odyssey Investment Partners

Acquisition Highlights
  • This is Warburg Pincus’ 2nd and The Carlyle Group’s 15th transaction in the Machinery sector.
  • This is Warburg Pincus’ 175th and The Carlyle Group’s 287th transaction in the United States.
  • This is Warburg Pincus’ 4th and The Carlyle Group’s 17th transaction in Illinois.

M&A Deal Summary
Date 2017-06-16
Target Duravant
Sector Machinery
Buyer(s) Warburg Pincus
The Carlyle Group
Sellers(s) Odyssey Investment Partners
Deal Type Secondary Buyout
Advisor(s) Jefferies
Robert W. Baird & Co., Inc. (Financial)
Latham & Watkins (Legal)

Target

Duravant

Downers Grove, Illinois, United States
Duravant is a provider of highly engineered automation equipment and related aftermarket solutions for packaging, material handling, and food processing applications. Duravant designs and assembles mission-critical equipment, including form-fill-seal machines, robotic palletizers, conveyors, and thermal processors, primarily serving the food and beverage, e-commerce, distribution, and agriculture end-markets. Duravant is based in Downers Grove, Illinois.

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Buyer(S) 2

Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 338 of 482
Sector (Machinery) 2 of 3
Type (Secondary Buyout) 43 of 63
State (Illinois) 4 of 8
Country (United States) 175 of 237
Year (2017) 15 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-14 Quantum Health

Dublin, Ohio, United States

Quantum Health is a consumer healthcare navigation company that delivers an unparalleled consumer experience based on empathy and trust, enabling employers to achieve industry-leading satisfaction rates and independently validated claim savings. Quantum Health’s model is based on years of consumer research and the insights learned from guiding millions of consumers and their providers through their healthcare journey. Quantum Health was founded in 1999 and is based in Dublin, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-26 Grupo Salta

Rio de Janeiro, Brazil

Grupo Salta is a private K-12 school network operating multiple brands targeting different geographies and income classes. Grupo Salta also has a proprietary Learning System/curriculum which is marketed to hundreds of associated schools. Grupo Salta is based in Rio de Janeiro, Brazil.

Buy -
Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 591 of 744
Sector (Machinery) 15 of 20
Type (Secondary Buyout) 83 of 130
State (Illinois) 17 of 22
Country (United States) 287 of 349
Year (2017) 11 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-09 IRCA

Gallarate, Italy

IRCA is a manufacturer of ingredients and food products for pastry-making, baking and ice-cream retailing. IRCA was established in 1919 and is based in Gallarate, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Kakao Mobility

Seongnam-si, South Korea

Kakao Mobility provides a wide range of mobility services through its Kakao T mobile-app platform including taxi-hailing, designated driver, electric bike hire, parking, and navigation. The company is also developing its autonomous driving technology. Kakao Mobility is based in Seongnam-si, South Korea.

Buy -

Seller(S) 1

SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investments is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York City with an additional office in Woodland Hills, California.

DEAL STATS #
Overall 29 of 34
Sector (Machinery) 3 of 3
Type (Secondary Buyout) 16 of 19
State (Illinois) 3 of 4
Country (United States) 28 of 33
Year (2017) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-20 Safway Services

Waukesha, Wisconsin, United States

Safway Services LLC is a provider of scaffolding services and access solutions in North America for the industrial and commercial construction markets. The Company provides a comprehensive portfolio of services, including the design, engineering, erection, dismantling, rental and sale of scaffolding throughout the U.S. and Canada. In the industrial market, the Company services multiple end-markets, including refining, power generation, Canadian Oil Sands, chemical and pulp & paper.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 CPI

Santa Rosa, California, United States

CPI is a direct marketer, designer and manufacturer of innovative OEM and end-user solutions in analytical science and technology. The company manufactures a range of technical analytical instrument components, high-purity standard solutions and reagents and other analytical testing products for the environmental, petrochemical, pharmaceutical, biotechnology and semiconductor industries. CPI’s worldwide customers include IBM, Intel, Pfizer, Merck, Bayer, US Filter, Safety Kleen, Chevron, Ashland Chemical, Dupont and BASF as well as numerous federal, state, academic and private laboratories. Direct sales and marketing are conducted worldwide, from offices in the United States, Canada, Europe and Japan.

Buy -
Mergr

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Legal