Secondary Buyout • Business Services

Vision Capital and Rubicon Partners Acquire ABL-Technic

On June 29, 2011, private equity firms Vision Capital and Rubicon Partners acquired business services company ABL-Technic from Paragon Partners

Acquisition Context
  • This is Vision Capital’s 3rd and Rubicon Partners’ 1st transaction in the Business Services sector.
  • This is Vision Capital’s 2nd and Rubicon Partners’ 2nd transaction in Germany.
Investment Fate
  • ABL-Technic was sold to a consortium of financial buyers in 2023.

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M&A Deal Summary

Date June 29, 2011
Target ABL-Technic
Sector Business Services
Buyer(s) Vision Capital
Rubicon Partners
Sellers(s) Paragon Partners
Deal Type Secondary Buyout

Target Company

ABL-Technic

Leutkirch, Germany
ABL-Technic is a provider of specialist paint stripping services to industrial plants. The company's service includes providing stillages, pickup and delivery of parts, mechanical, thermal, and chemical stripping in a 24-hour turnaround time. ABL-Technic was founded in 1973 and is based in Leutkirch, Germany.
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Buyers Overview 2

Buyer

Vision Capital

London, United Kingdom

Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Vision Capital is a large private equity firm focused on control investments in companies located in Europe and the US. Vision targets equity and debt investments in profitable businesses valued from €50 million to €1 billion. Specific areas of interest include financial services, real estate, industrial, manufacturing, consumer and business services. Target transaction types include buyouts and corporate divestitures/spinoffs. In addition to its principal investment activity, Vision Capital's Principal Finance group provides financing to other investors or company owners to support growth initiatives, debt repayment, acquisitions, or investor liquidity. Vision Capital was formed in 1997 and is based in London.


Deal Context for Buyer #
Overall 32 of 40
Sector: Business Services 3 of 4
Type: Secondary Buyout 8 of 11
Country: Germany 2 of 3
Year: 2011 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-16 New Evolution Ventures

Lafayette, California, United States

New Evolution Ventures is a health, fitness and wellness industries, encompassing multiple brands that incorporate health clubs as well as nutrition, media and technology. New Evolution Ventures was founded in 2008 and is based in Lafayette, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-01 Pantex International

Sulmona, Italy

Pantex International designs and produces, using its proprietary technologies, perforated cover layers and skin contact materials for the personal care and household markets. Pantex International was formed in 1987 and is headquartered in Sulmona, Italy.

Buy -
Buyer

Rubicon Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
Size Small
Type Sector Agnostic
DESCRIPTION

Rubicon Partners is a large private equity firm focused on acquiring industrial service and products businesses. The Firm targets business valued from £15 to £250 million and has a special interest in situations with transactional or operational complexity. Specific areas of interest include aerospace, construction, machinery, construction, building products, automotive, energy/power, industrial services, and specialty distribution. Prospective transaction situations include carve-outs, successions, and other special situations. Rubicon Partners was formed in 1993 and is based in London.


Deal Context for Buyer #
Overall 18 of 33
Sector: Business Services 1 of 5
Type: Secondary Buyout 3 of 7
Country: Germany 2 of 2
Year: 2011 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-10 Swisshaus AG

St. Gallen, Switzerland

Swisshaus AG is a general contractor in the residential housing market for single-family houses in Switzerland and Austria. Swisshaus offers a number of house types that are built as solid structure with prototypes amended according to customer requirements. Swisshaus contracts all necessary products and services from local craftsmen and is the clear market leader in Switzerland, where it enjoys strong brand recognition and a strong reputation for customer service.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 RGI Industries

United States

Grovepoint formed a partnership with Rubicon Partners and Investec Bank called RG Industries LLP (RGI)

Buy -

Seller Profile 1

SELLER

Paragon Partners

Munich, Germany

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Paragon Partners is an independent private equity group focused on investments within German speaking Europe (Germany, Austria, Switzerland). The Firm does not have any sector preferences, generally targeting profitable companies (EBIT of €5 to €70 million) with attractive business models and 'outstanding' management. Paragon Partners was formed in 2004 and is based in Munich.


Deal Context for Seller #
Overall 7 of 26
Sector: Business Services 1 of 5
Type: Secondary Buyout 3 of 8
Country: Germany 6 of 21
Year: 2011 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-17 Europart

Hagen, Germany

Europart is a trading company for spare parts and accessories for commercial vehicles, buses and special vehicles of all classes in Europe. In addition, Europart supplies its main customer groups in vehicle garages, transport companies and fleet operators with a wide range of workshop requirements, including in the areas of chemicals, workshop/office equipment, fastening technology, operational safety equipment etc. for day-to-day work. Europart was founded in 1948 and is based in Hagen, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-13 elero

Schlierbach, Germany

elero GmbH is a manufacturer of electrical drives and controls for roller shutters, sun protection systems, and doors. elero was established in 1964 and is based in Schlierbach, Germany.

Buy -