M&A Deal Summary

KKR and Ardian Acquire Pets at Home Group

On January 27, 2010, private equity firms KKR and Ardian acquired retailer Pets at Home Group from Bridgepoint for 955M GBP

Acquisition Highlights
  • This is KKR’s 7th and Ardian’s 8th transaction in the Retail sector.
  • This is KKR’s 54th and Ardian’s 29th largest (disclosed) transaction.
  • This is KKR’s 4th and Ardian’s 8th transaction in the United Kingdom.
Investment Fate
  • Pets at Home Group went public in 2014.

M&A Deal Summary
Date 2010-01-27
Target Pets at Home Group
Sector Retail
Buyer(s) KKR
Ardian
Sellers(s) Bridgepoint
Deal Type Secondary Buyout
Deal Value 955M GBP
Advisor(s) DLA Piper (Legal)

Target

Pets at Home Group

Handforth, United Kingdom
website
Pets at Home Ltd. is the specialist retailer of pet food, pet related products and accessories. Pets at Home was founded in 1991 and is based in Handforth, the United Kingdom.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website

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 79 of 421
Sector (Retail) 7 of 15
Type (Secondary Buyout) 8 of 99
Country (United Kingdom) 4 of 22
Year (2010) 3 of 13
Size (of disclosed) 54 of 93
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-27 WILD Flavors

Zug, Switzerland

WILD is a private producer of natural flavours, ingredients and systems to the food and beverage industry.WILD focuses on outstanding flavor, functionality, quality, and safety of its products. We are committed to developing innovative products that maintain a leading position in the market.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-23 Ambea

Stockholm, Sweden

Ambea is an elderly and disabled care services provider. Ambea is active in the public-pay market for care services through Vardaga and Nytida which mainly provide services on behalf of local and regional authorities. Nytida is one of the leading providers of care for the disabled and Vardaga is one of the leading private providers of elderly care services in the Nordic region. Ambea also provides medical personnel staffing services through Rent-A-Doctor, Rent-A-Nurse and Careteam. Ambea was formed in 1996 and is based in Stockholm, Sweden.

Buy kr5.2B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

website

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 132 of 415
Sector (Retail) 8 of 14
Type (Secondary Buyout) 33 of 134
Country (United Kingdom) 8 of 25
Year (2010) 2 of 27
Size (of disclosed) 29 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-18 Numberly

Paris, France

Numberly specializes in interactive advertising and marketing. It provides optimize their advertising and marketing campaigns on interactive media (Internet, Mobile, etc.). The company is listed on Alternext. Numberly was founded in 2000 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-02 Synerail Exploitaiton SAS

Suresnes, France

A communications network for European rail operators. The construction and the operation for 15 years of a GSM-R telecommunications network to be fully deployed by 2015 over 14,000 km of tracks.

Buy -

Seller(S) 1

SELLER

Bridgepoint

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1984
PE ASSETS 28.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Bridgepoint is a large European private equity firm that invests in middle-market companies across a broad range of industries with an enterprise value of €200 - €1000 million. Prospective transaction situations include buyouts, buy-ins, growth financings, consolidations, and take privates. The firms invest in the range of €75 - €400 million transaction. Bridgepoint Development Capital specializes in investments in businesses valued up to a €150 million, taking equity stakes of between €10 million and €75 million. General sectors of interest include consumer products and services, retail, financial services, healthcare, media, technology, industrials, and business services. Bridgepoint was formed in 1984 and has offices in London, Frankfurt, Luxembourg, Madrid, Milan, Paris, Stockholm and Warsaw.

DEAL STATS #
Overall 28 of 94
Sector (Retail) 2 of 5
Type (Secondary Buyout) 19 of 60
Country (United Kingdom) 17 of 44
Year (2010) 1 of 1
Size (of disclosed) 1 of 33
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Art Embal

Paris, France

Art'Embal operates supermarkets, distribution group platforms and directly to the wholesaler. It also owns two manufacturing plants which produce bread bags and wax paper.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-05 LGC Group

Teddington, United Kingdom

LGC Group is an international life science measurement and testing company. LGC provides a range of measurement products and services that underpin the safety, health, and security of the public, including reference materials and proficiency testing, genomics reagents and instrumentation, and expert sample analysis and interpretation. LGC Group was founded in 1842 and is based in Teddington, United Kingdom.

Buy £257M
Mergr

Product

Company

Legal