M&A Deal Summary

Unitas Capital and CCMP Capital Acquire Edwards Group

On March 12, 2007, private equity firms Unitas Capital and CCMP Capital acquired electronics company Edwards Group from Linde for 685M EUR

Acquisition Highlights
  • This is Unitas Capital’s 1st and CCMP Capital’s 1st transaction in the Electronics sector.
  • This is Unitas Capital’s and CCMP Capital’s 13th largest (disclosed) transaction.
  • This is Unitas Capital’s 1st and CCMP Capital’s 6th transaction in the United Kingdom.
Investment Fate
  • Edwards Group was sold to a publicly-traded strategic buyer in 2013 for 1.6B USD.

M&A Deal Summary
Date 2007-03-12
Target Edwards Group
Sector Electronics
Buyer(s) Unitas Capital
CCMP Capital
Sellers(s) Linde
Deal Type Divestiture
Deal Value 685M EUR

Target

Edwards Group

Crawley, United Kingdom
website
Edwards is a leading supplier of integrated solutions for the manufacture of microelectronics devices, including semiconductors and flat panel displays. It is also a world leader in vacuum technology for industrial, scientific, process, and R&D applications. Edwards employs around 4,000 people globally, in the design, manufacture and support of high technology vacuum equipment.

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Buyer(S) 2

Buyer

Unitas Capital

Hong Kong, China

website

Category Private Equity Firm
Founded 1999
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Unitas Capital is a private equity firm focused on buyouts and growth capital investments in medium-to-large sized businesses across Asia. Unitas targets opportunities throughout Australia & New Zealand, Greater China, Korea, Japan and Singapore. Areas of interest include branded consumer, retail and industrial manufacturing/services. Unitas dates back to 1999 (when it was part of and known as J.P. Morgan Partners Asia) and has offices in Hong Kong and Shanghai.

DEAL STATS #
Overall 9 of 17
Sector (Electronics) 1 of 2
Type (Divestiture) 2 of 3
Country (United Kingdom) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 Generac

Waukesha, Wisconsin, United States

Generac is a designer and manufacturer of a range of generators and other engine powered products. Generac was established in 1959 and is based in Waukesha, Wisconsin.

Buy $689M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-22 Halla Holdings

Seoul, South Korea

Halla Holdings is a leading auto components manufacturer in Korea, producing brake components and systems, steering components and systems, suspension components and modules, air bags and casings. Halla Holdings was founded in 1962 and is based in Seoul, South Korea.

Sell -
Buyer

CCMP Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

CCMP Capital is a large private equity firm focused on buyout and growth equity valued up to $2 billion. Sectors of interest include consumer, retail, and services (specialty retail, direct marketing, consumer packaged goods); media/telecom (consumer and trade publishing, content and programming, broadcasting, cable, wireless and wire line communications ); industrial (chemicals, manufacturing, distribution, automotive); energy (exploration and production, power generation, renewable energy, services); and healthcare (services, pharmaceuticals, medical devices). The Firm's target investment size is $100 to $500 million. CCMP Capital Advisors was formed in 1984 and was spun off in 2006 from JP Morgan Chase. The Firm is based in New York City.

DEAL STATS #
Overall 75 of 97
Sector (Electronics) 1 of 1
Type (Divestiture) 4 of 6
Country (United Kingdom) 6 of 7
Year (2007) 4 of 5
Size (of disclosed) 13 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-02 Gate Gourmet Group

Zurich, Switzerland

Gate Gourmet Group is the world's largest independent provider of airline catering and provisioning services. It delivers daily on a global basis to more than 250 airline customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-26 Yellow Pages Group

Auckland, New Zealand

Yellow Pages Group Limited is the publisher of yellow pages, white pages, and local and regional directories in New Zealand. It also publishes New Zealand retirement guide, as well as New Zealand tourism online.

Buy $2.2B

Seller(S) 1

SELLER

Linde

Woking, United Kingdom

website

Category Company
Founded 1879
Sector Chemicals
Employees65,831
Revenue 33.4B USD (2022)
DESCRIPTION

Linde is an international industrial gas and engineering company that offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants. Linde was founded in 1879 and is based in Woking, United Kingdom.

DEAL STATS #
Overall 2 of 7
Sector (Electronics) 1 of 1
Type (Divestiture) 2 of 6
Country (United Kingdom) 1 of 2
Year (2007) 2 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-20 AGA S.A. de C.V.

Tlalnepantla de Baz, Mexico

AGA S.A. de C.V. is a manufacture and distributor of industrial and medical gases.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-30 Linde Gas USA

United States

Linde Gas USA LLC is a provider of packaged gas products.

Sell $310M
Mergr

Product

Company

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