BDO International Snapshots 2022 showcases a selection of our recent deals around the world.
BDO PRIVATE EQUITY INTERNATIONAL SNAPSHOTS 2019 PRIVATE EQUITY I E I S 22 BDO PRIVATE E I FROM AROUNDTHEWORLD BDO PRIVATE EQUITY DEALS FROMAROUNDTHEWORLD
BDOGLOBAL CORPORATE FINANCE WHAT SETS US APART
WITH A TOTAL DEAL VALUE OF 2,020
$128.6bn DEALS IN 2021
ONE OF THE MOST ACTIVE ADVISERS GLOBALLY *
*1st most active M&A Advisor Globally – Pitchbook league tables 2021 1st most active Advisor & Accountant Globally 2021 – Pitchbook league tables 2021
2nd leading Financial Due Diligence provider Globally – Mergermarket global accountant league tables 2021
WELCOME Welcome to our 2022 edition of International Private Equity Snapshots
We have put together a selection of deals that our Corporate Finance teams across the globe have worked on in the last fewmonths. On average, over 35% of our deals across the globe involve private equity with the percentage growing much higher in Europe and North America. We have a growing team of 2,500 BDO Corporate Finance specialists in 100 countries doing more and more deals on a yearly basis. We are delighted and very proud to have been named No. 1 Advisor & Accountant on PE deals globally in the Pitchbook league tables 2021. We hope that the selection of transactions in this brochure shows the breadth of industries, clients and geographies where we operate.
SCOTT HENDON HEAD OF GLOBAL PRIVATE EQUITY
shendon@bdo.com
DENMARK PG.11
CONTENTS
THE NETHERLANDS PG.26
UK PG.30
CANADA PG.8
BELGIUM PG.6
SPAIN PG.23
USA PG.32
ITALY PG.21
FRANCE PG.13
SWITZERLAND PG.25
CHILE PG.10
NORWAY PG.22
FINLAND PG.12
GERMANY PG.16
HUNGARY PG.18
AUSTRALIA PG.4
INDIA PG.19
TURKEY PG.28
ISRAEL PG.20
04
BDO PRIVATE EQUITY
AUSTRALIA
Sale of Cormack Holdings Pty Ltd toTricorBraun
Working with the BDOCorporate Finance team throughout the M&A process was a pleasure, and we were impressed at every turn with their unwavering commitment and high quality of work. The assistance BDO provided was invaluable and we could not have selected a better adviser to have on our team. I would strongly recommend BDO to any company looking to undertake an M&A process. TricorBraun is owned by funds managed by Ares Management Corporation’s Private Equity Group and Ontario Teachers’ Pension Plan Board. TricorBraun provides innovative solutions across a wide array of customer end markets in plastic and glass containers, closures, dispensers, tubes and flexibles. BDO’s Corporate Finance team, led by Sebastian Stevens, was engaged by Cormack Packaging to manage the sale process and provide M&A advisory assistance. Global packaging leader, TricorBraun, has entered into a Share Sale Agreement to acquire 100% of the shares in Cormack Holdings Pty Ltd ('Cormack Packaging'). Cormack Packaging is an Australian packaging company specialising in the manufacture and distribution of caps and closures into the personal care, pharmaceutical, household cleaning, industrial, automotive, food, beverage and cosmetic industries in Australia and New Zealand.
BDO contact for this transaction
SEBASTIAN STEVENS Partner in Charge Advisory Corporate Finance sebastian.stevens@bdo.com.au
Mathew Cormack | Managing Director, Cormack Holdings Pty Ltd
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
05
AUSTRALIA
TheVortiv Board engaged BDO to advise on strategic options relating to an unsolicited approach we received for our Cyber Security businesses. BDO demonstrated a strong understanding of the regulatory framework whilst maximising the value achieved for the Cyber Security business. We appreciated BDO bringing sector experts across multiple offices which was critical to the success of the deal conducted through the COVID-19 lockdown. BDO brought together a range of M&A specialists from across the nation (Melbourne and Perth) to manage the complex issues and regulatory requirements, including navigating ASX Listing Rules, Corporations Law, ATO tax rulings, Independent Expert determination and FIRB approval process. BDO managed the AUD25 million transaction to a successful completion with BGH Capital backed CyberCX, delivering a circa 20% price increase on the original approach. Vortiv Ltd is an ASX listed company which operated cyber security businesses Cloudten and Decipher Works (Cyber Business) and holds a minor investment in payment solutions business TSI India. Following an unsolicited approach for its Cyber Business in June 2020, BDO was appointed to advise the board on how it should manage the offer and ensure directors’ duties would be discharged whilst maintaining competitive tension through a confidentially-managed process.
Sale of Vortiv Limited’s cloud and cyber-security business to CyberCX
BDO contact for this transaction
TONY SCHIAVELLO Partner
Corporate Finance, Melbourne tony.schiavello@bdo.com.au TODD GROVER Partner Corporate Finance, Perth todd.grover@bdo.com.au SILVIO COLALUCA Associate Director Corporate Finance, Melbourne silvio.colaluca@bdo.com.au
Jeffrey Lai | Managing Director, Vortiv Limited
INTERNATIONAL SNAPSHOTS 2022
06
BDO PRIVATE EQUITY
BELGIUM
Sale of Hospidex to the PE firmSmile Invest
The BDO M&A team in Belgium advised the shareholders of the leading healthcare solution provider Hospidex in the sale of an equity stake to the private equity firm Smile Invest. For over 30 years, Hospidex has been specialised in the distribution and commercialisation of medical equipment in Western Europe. It offers complete solutions, both for end users at home and for healthcare professionals in hospitals, retirement and care homes, specialty medical stores and pharmacies.
BDO also provided vendor assistance.
BDO contact for this transaction ALEXI VANGERVEN Partner alexi.vangerven@bdo.be
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
07
BELGIUM
The BDO M&A team in Belgium advised the shareholder of Building Technology Group in the sale of his shares to Vectis Private Equity. Building Technology Group is one of the most effective installation companies for building infrastructures and has a good track record of organic growth and integration of selective acquisitions. The intention is to maintain this momentum and actively look for buy and build opportunities in various building technologies.
Vectis invests in the Antwerp-based Building Technology Group
BDO contact for this transaction ALEXI VANGERVEN Partner alexi.vangerven@bdo.be
INTERNATIONAL SNAPSHOTS 2022
08
BDO PRIVATE EQUITY
CANADA
Goldner Hawn invests in Nuco Inc.
The team at BDOM&A and Capital Markets understood the value of Nuco Inc. They strived to provide top tier professional services and had deep understanding of the industry to get the best results. With BDO’s technical expertise and guidance, the entire transaction process felt seamless. For over 30 years, Nuco Inc. has been a leading manufacturer of sealants, foams, firestops, and adhesives products. Goldner Hawn is a Minnesota based Private Equity fund that has been a source of private capital to leading lower middle market companies for the past 30 years. The BDO Canada M&A and Capital Markets team acted as the exclusive financial advisor to Nuco Inc., by assisting the owners of the business with the recapitalisation of their company.
BDO contact for this transaction
RYAN FARKAS Managing Director rfarkas@bdo.ca
Scott Gray | Owner, Nuco Inc.
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
09
CANADA
The BDO Transaction Services team in Canada advised Fulcrum Capital Partners, a leading Canadian private equity firm focused on the lower middle market, on its investment in Creative Outdoor Advertising ('COA' ). COA is a leading provider of outdoor street furniture advertising solutions for local businesses across small and mid-sized municipalities throughout North America.
FulcrumCapital Partners Invested in Creative Door Advertising
BDO contact for this transaction SUNIL SHARMA Partner ssharma@bdo.ca
INTERNATIONAL SNAPSHOTS 2022
10
BDO PRIVATE EQUITY
CHILE
Business valuation and real estate assets valuation for transaction and IFRS purposes
BDO's Valuation team is advising Grupo Patio, a Chilean based real Estate Group, in the valuation and structuring of a new Investment Fund, in partnership with an Institucional Fund.
BDO acts as an essential collaborator offering support in all valuations carried out for different purposes. As such, BDO's flexibility and proximity are very valuable for Grupo Patio.
Patricio Baeza | Sub Gerente de Finanzas, Grupo Patio
BDO contact for this transaction
EMILIOVENEGAS Partner evenegas@bdo.cl CARMEN CATAN Manager carmen.catan@bdo.cl
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
11
DENMARK
The BDO Transaction Services teams in Denmark and Sweden provided financial and tax due diligence services to Efficy SA from Belgium on two transactions during 2021. Efficy SA, backed by the PE's Fortino Capital and APAX acquired webCRM A/S from Denmark and Apsis Group AB from Sweden. WebCRM is the no.1 independent CRM provider in Denmark. The company offers a very configurable, easy to use and highly secure cloud-based CRM system. Apsis Group AB is a leading Nordic provider of data-driven marketing with 20 years of experience providing solutions for email marketing, marketing automation and marketing personalisation. Efficy is a software provider offering medium and large businesses a complete, flexible, and extended CRM (Customer Relationship Management) solution which helps companies manage their customer relationships.
Acquisition of Apsis Group AB in Sweden and webCRMA/S in Denmark by Efficy SA
backed by Fortino Capital and APAX
BDO contact for this transaction
PER BECH Director prb@bdo.dk
INTERNATIONAL SNAPSHOTS 2022
12
BDO PRIVATE EQUITY
FINLAND
Sale ofVuealtaOy to VismaConsultingOy
It was a pleasure working with Jan, Nora and the rest of the team. BDO and the team supported us through the sales process. We benefited especially from their broad knowledge of the industry and the sales process as well as their professional advisory during the entire process. We recommend the BDO team for similar projects. BDO was retained as sell-side advisor, assisting Vuealta Oy through the entire sales process. Several players expressed their interest in the opportunity, but ultimately Visma Consulting was chosen as their entrepreneurial company culture matched Vuealta’s desires and also the product and service portfolio was perfectly completed by Vuealta’s offers. BDO ensured a very smooth and efficient process from preparing the sales materials, through offers and negotiations to signing and closing. BDO acted as the financial and legal advisor for Vuealta Oy, Finland's leading Anaplan consultant, in their strategic search for a new partner to enable further growth and an exit for the Company’s founders. Visma is majority owned by Hg, a private equity firm targeting technology buyouts primarily in Europe and the US. Vuealta Oy is a Finnish IT consultant focusing on Anaplan consulting and license sales.
BDO contact for this transaction
JAN KOVERO Partner jan.kovero@bdo.fi NORA RITALA Manager nora.ritala@bdo.fi
Vesa Pahkamaa | CEO, Vuealta Oy
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
13
FRANCE
The BDO Corporate Finance team in France provided transaction services support to TRAJAN, a private equity fund which partners with ambitious entrepreneurs, in the context of its investment in adfinitas. Adfinitas is a European data-driven marketing and communication agency dedicated to non-profit organizations. With TRAJAN as a new growth partner, adfinitas aims to become the leading data-driven agency focused on philanthropy on a European scale. In the years ahead, adfinitas aims at broadening its services offering and performing build-up acquisitions. The Group has a turnover of EUR20 million and achieved an average annual growth rate of more than +20% for the last three years.
Trajan Capital invested in adfinitas Group
BDO contact for this transaction
ALBAN CABANIS Partner lban.cabanis@bdo.fr
INTERNATIONAL SNAPSHOTS 2022
14
BDO PRIVATE EQUITY
FRANCE
Polygon acquired SaT France and SaT Luxembourg
The BDOTransaction Services team in France assisted Polygon Group in its acquisition of the SaT Group, which specialises in asbestos removal and decontamination, particularly in the energy sector. Through this acquisition, Polygon Group completes its service offering in France but will also benefit from SaT's know-how to address other markets in Europe. Polygon Group, formerly owned by Triton Partners, has been sold to funds managed by AEA Investors LP. AEA, together with the management team acquired 100 percent ownership of Polygon.
BDO contact for this transaction
ALBAN CABANIS Partner lban.cabanis@bdo.fr
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
15
INTERNATIONAL SNAPSHOTS 2022
16
BDO PRIVATE EQUITY
GERMANY
Sale of Rudolf Dankwardt GmbH to LafayetteCapital
The BDO M&A team in Germany successfully advised the shareholders of Rudolf Dankwardt on the sale of a majority stake to Lafayette Capital. The transaction structure also included a recapitalisation of Rudolf Dankwardt. Rudolf Dankwardt is a market leading custom manufacturer of high quality aerosols, liquids and emulsions for the growing skin and personal care market. The Company operates two state-of-the art production sites in Germany. It covers the entire value chain from R&D, production, packaging to marketing. Around 500 employees work for the Company and produce ca. 130 million units of shampoos, shower gels, body lotions, shaving foams, hair sprays and deodorants p.a. Key customers include global personal care players and large European retail chains which benefit from tailor-made white-label products that the Company develops. Lafayette Capital will further accompany the Company’s growth in its core business and also in the promising white-label space.
BDO contact for this transaction
HANS-JÜRGEN RONDORFF Partner Corporate Finance/M&A hans-juergen.rondorff@bdo.de OLIVER BACH Manager Corporate Finance/M&A oliver.bach@bdo.de
The transaction closed in January 2022.
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
17
GERMANY
BDO supported the private equity firm Main Capital Partners ('Main Capital' ) in the sale of b+m Group – a full-service provider of software solutions for banks and insurance companies – to the German technology investor LEA Partners. An interdisciplinary team of BDO supported Main Capital Partners during the transaction in financial matters with the preparation of a financial fact book. Main Capital is a private equity firm with a focus on building large and dynamic software groups and more than 20 years of experience – it had acquired b+m Group in 2015. Main Capital and the b+m Group more than tripled their recurring revenue while significantly increasing profitability. The team at BDO supported us reliably and with the highest level of expertise in every aspect of the transaction process. In addition, the cooperation was again highly pleasant on a human level. We are very happy that we were able to execute this first sale of a DACH portfolio company of Main Capital with the help of BDO.
Sale of b+mGroup to LEA Partners
BDO contact for this transaction
FRANK SCHOLL Partner frank.scholl@bdo.de
Sven van Berge | Partner and Head of Germany at Main Capital
INTERNATIONAL SNAPSHOTS 2022
18
BDO PRIVATE EQUITY
HUNGARY
Chi Fu Investment Fund Management Zrt invested in Váci Enterprise Kft
The BDOTransaction Services team in Hungary provided financial due diligence to the Hungarian based private equity Chi Fu Investment Fund
Management Zrt. in connection with the
acquisition of a minority quota and contribution of future financing for Váci Enterprise Kft., owner of a 300.000 GBA sqm real
estate development project in Budapest.
BDO contact for this transaction
ÁDÁMWILDER Director adam.wilder@bdo.hu
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
19
INDIA
The BDO team in India was appointed to work on the investment by Norfund and TPC Capital RISE Fund in Fourth Partner Energy. BDO valued the issue of CCPS and transfer of equity shares.
Investment by Norfund and TPG Capital’s RISE Fund in Hyderabad-based Fourth Partner Energy Private Limited
BDO contact for this transaction
MANDAR GADKARI Partner Valuation Practice mandargadkari@bdo.in
INTERNATIONAL SNAPSHOTS 2022
20
BDO PRIVATE EQUITY
ISRAEL
Sale of a 100% stake in Regba to IDFI
The BDO M&A team acted as the lead advisor to Regba a leading kitchen manufacturing and designing company based in Israel. Regba was founded in 1946, and is one of the leading kitchen manufactures in Israel. The company comprises an ultra-modern 12,000 square meter manufacturing plant with many locations around the country. The Regba manufacturing plant operates with the most up-to-date machinery available in the world, for carpentry and kitchen production. The company designs modular kitchens including metallic, crystal, barry porcelain, glass barry and many more. The BDO team assisted the company during the sales process of 100% of Regba stocks to IDFI. IDFI Is a private equity company founded in 2015 which focuses on investing in mid-market Israeli companies.
BDO contact for this transaction
TAMAR BEN DOR Director M&A and Investment Banking tamarBe@bdo.co.il
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
21
ITALY
The BDO M&A team in Italy advised Adler Ortho S.p.A., an Italian group specialised in the design and production of prothesis and orthopedical devices, on a capital injection by Space Capital Club, an Italian PE fund. Adler Ortho recorded a turnover of approximately EUR40 million in 2019, with an EBITDA margin of 16%. The company has a work force of approximately 150 people and a consolidated international presence; in fact, about 50% of the turnover is recorded abroad and in particular in France, Japan and the UK. The transaction consisted in the subscription of a minority stake equal to 35% of the company's share capital through a reserved capital increase of EUR22 million in favour of a vehicle, Space Orion S.p.A., specifically set up by Space Capital Club shareholders. The financial resources provided by Space Capital Club, entirely through a dedicated capital increase, will be aimed at strengthening the commercial international presence of the group.
SpaceCapital Club invested inAdlerOrthoS.p.A.
BDO contact for this transaction
STEFANOVARIANO Partner stefano.variano@bdo.it
INTERNATIONAL SNAPSHOTS 2022
22
BDO PRIVATE EQUITY
NORWAY
Vendor due diligence on FriskGruppenwhich was sold to Falck
The BDOTransaction Services team in Norway assisted the PE owner of Frisk Gruppen with a financial VDD and databook in a structured sales process to Falck A/S.
Norwegian company Frisk Gruppen specializes in labour market services, occupational health services and specialist healthcare. Falck is a global market leader in emergency response and healthcare services. With the acquisition Falck will significantly strengthen its footprint as a healthcare service provider in Scandinavia. Frisk Gruppen was owned by Credo Partners AS, an investment firm focusing on scaling up small and medium sized businesses in Norway and Denmark in partnership with entrepreneurs and investors.
BDO contact for this transaction SIGBJØRN SELVIK Partner sigbjorn.selvik@bdo.no
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
23
SPAIN
BDO advised the shareholders of MMYPEM, a leading commissioning service company to the industrial energy sector, in the sales process to Henko Partners, a Spanish Private Equity looking to execute a buy and build strategy. The Spanish M&A team of BDO executed all parts of the transaction process, from the deal structuring, preliminary valuation, marketing, due diligence coordination and transactional documentation support. Henko Partners expects to deliver a buy and build strategy creating a platform of services to the energy sector to support energy transition. The Company registered a sales figure in 2020 of EUR10 million and EUR2 million EBITDA, while the plan of Henko is to reach the EUR40 million sales target. The financing of the transaction was structured through a mix of equity and institutional private debtors.
Sale of MMYPEM to Henko Partners
BDO contact for this transaction
JUANVEGA DE SEOANE Head of M&A juan.vegaseoane@bdo.es
The transaction was closed and announced in December 2021.
INTERNATIONAL SNAPSHOTS 2022
24
BDO PRIVATE EQUITY
SPAIN
Acquisition of Endalia, S.L. by Accel-KKR LLC
The BDO Transaction Services teams in Spain and the USA provided financial and tax due diligence services to Accel-KKR LLC in connection with the acquisition of Endalia S.L. Silicon Valley-headquartered Accel-KKR, a software focused investment firm, acquired a majority stake in Endalia, a Spanish provider of human resource management software. Accel-KKR intends to accelerate the company's organic growth and pursue a buy-and-build strategy with strategic acquisition opportunities.
BDO contact for this transaction RAUL LOPEZ Partner
raul.lopez@bdo.es CHARLES IRVIN Partner cirvin@bdo.com
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
25
SWITZERLAND
The BDO Transaction Services team in Zurich assisted Capital Transmission, a Geneva based investment vehicle of the Capital Bank of Geneva, in acquiring a minority stake in Ascend Sport Technology, a global player for digital marketing in the football sector. BDO provided cross-border financial and tax due diligence services, including transfer pricing review. Corporate Finance and Tax experts from BDO Hong Kong supported the BDO Zurich team on this transaction. Ascend Sport Technology was founded in Luzern, Switzerland in 2010 with the initial business focus on sales and installations of digital perimeter advertising on the sidelines in football stadiums. Nowadays, the Group offers a complete range of services, from the sale of the original digital perimeter advertising, marketing of advertising space and advertising time, and even consulting, by using the latest technologies in artificial intelligence, digital targeted advertising and big data. Ascend Sport Technology is an official partner of the biggest European football clubs, such as Real Madrid, FC Bayern München and Paris Saint Germain and the leading institutions in their business sector. The Group currently holds investments in AIM Sport, Abcoya and Adrenali.ne. Abcoya is the production unit, domiciled in Shenzhen, China. Adrenali.ne operates as a gateway for brands to advertise in the stadiums of the world's top performing football clubs.
Acquisition of shares of Ascend Sport Technology by Capital Transmission
BDO contact for this transaction
BENJAMIN HALDIMANN Partner Head of Transaction Services benjamin.haldimann@bdo.ch MARTINA HÄNNI Manager Transaction Services martina.haenni@bdo.ch
INTERNATIONAL SNAPSHOTS 2022
26
BDO PRIVATE EQUITY
THE NETHERLANDS
Acquisition of minority stake in Hemink by NIBCCo-Investments
The BDO Transaction Services team in The Netherlands provided buy-side due diligence services to NIBC Investment Partners in connection with the acquisition of a minority stake in Hemink. With the takeover NIBC will support Hemink to achieve its growth ambitions. As a full service real estate partner, Hemink is a specialist in property maintenance and sustainability projects, including renovation projects, long term and planned maintenance and completion of new built property. The company, established in 1958 as painting company, operates nationally from its offices in Holten and Nijkerk and employs approximately 250 people. Hemink carries out large and intensive (sustainability) projects that are often performed in inhabited situations. NIBC Investment Partners' focus on minority investments and its real estate sector expertise is in line with the wishes and ambitions of the management. The investment by NIBC in Hemink was awarded the Best Small Cap Deal 2021 by M&A Awards 2021.
BDO contact for this transaction
RUBENWILLEMS Partner ruben.willems@bdo.nl
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
27
THE NETHERLANDS
The BDO Transaction Services team in The Netherlands provided buy-side due diligence services to Arcus Infrastructure Partners (Arcus) in connection with the acquisition of 100% of HB Returnable Transport Solutions ('HB'). With the takeover Arcus will support HB to achieve its growth ambitions. HB, established in 2008, is a leading provider of rental, washing and integrated logistics for returnable transport items ('RTIs') in the Dutch food supply chain, ensuring the safe and sustainable transport of consumable products from suppliers to consumers. RTIs are critical assets within the circular economy, ensuring reliable and efficient transport, while minimising the use of single-use, one-way packaging in a variety of fast-moving supply chains. With an asset pool of 2.8 million RTIs and a network of 10 strategically located washing and logistics facilities across the country, HB provides vital RTI logistics infrastructure and an integrated one-stop shop solution for its customers. Arcus' focus on value-add infrastructure businesses and sector expertise is in line with the wishes and ambitions of the management.
Acquisition of HB Returnable Transport Solutions by Arcus Infrastructure Partners
BDO contact for this transaction
RUBENWILLEMS Partner ruben.willems@bdo.nl
INTERNATIONAL SNAPSHOTS 2022
28
BDO PRIVATE EQUITY
TURKEY
Financial due diligence of MT PlastikA.Ş. for SimonaAG
BDOTurkey performed financial due diligence services for MT Plastik in line with SIMONA AG's request.
SIMONA AG completed the acquisition of 70% of the shares in MT Plastik AS, Düzce, Turkey on 1 February 2021. Simona AG is held by Solventis AG, who focuses on equity investments in special situations and German small and mid-cap companies. Going forward, the company will appear on the market under the name SIMONA PLASTECH. With this acquisition, SIMONA is aiming for market leadership in the PVC foam sheet business in terms of quality, breadth of the product portfolio and market share. The acquisition of MT Plastik expands the portfolio with new and established products and opens up growth potential in construction and advertising applications under the umbrella of the newly established Advertising and Building Construction Industry business line.
BDO contact for this transaction
SERHAN HELVACIOĞLU Senior Manager serhan.helvacioglu@bdo.com.tr
FURKAN AKTAŞ Experienced Senior furkan.aktas@bdo.com.tr
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
29
INTERNATIONAL SNAPSHOTS 2022
30
BDO PRIVATE EQUITY
UNITED KINGDOM
Investment in PrimeGlobal by LLCP
BDO has provided sell-side M&A, vendor commercial due diligence, vendor financial due diligence, financial modelling and tax advice to Prime Global in connection with a significant investment from Levine Leichtman Capital Partners (LLCP).
Prime Global is a leading, international medical communications and market access group.
The business has experienced exceptional growth in recent years, including the recent launches of new consultancies Prime Access, IRIS, and Prime Omics, as well as the acquisition of Cambridge Medical Communication in May 2020. The investment from LLCP will support Prime Global as it continues on its sector-leading growth trajectory. We are delighted to be receiving a significant investment and powerful partnership with LLCP to support the next chapter of our exciting journey. We enjoyed working with an amazing team at BDOwho provided insightful professional advice and detailed support, bringing together a wide range of expert and comprehensive services over the course of the process. BDOwas viewed as a trusted partner from the early preparation phases through to completion, and we appreciated their collaborative approach and genuine sector understanding throughout.
BDO contact for this transaction
JAMIE AUSTIN Corporate Finance Partner National Head of Private Equity jamie.austin@bdo.co.uk ROB MCCANN Corporate Finance Partner M&A rob.mccann@bdo.co.uk
Graeme Peterson | Founder and Chief Executive Officer, Prime Global
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
31
UNITED KINGDOM
We carried out financial and tax due diligence for Baird Capital in relation to its investment in Prescient Healthcare Group. Prescient is a product strategy consultancy to the global biopharmaceutical industry. Founded in 2007, Prescient is headquartered in London and has offices in the US, India and China. Baird’s investment and global resources are expected to help further accelerate Prescient’s growth. BDO did an excellent job supporting Baird Capital on this transaction. Andrew and the team effectively navigated the complexities of a global healthcare consulting business with various service lines and a multi-currency revenue model without missing a deadline. The BDO team demonstrated a professional, highly responsive, and consultative approach enabling them to add strategic insights to Baird's evaluation of this opportunity. We look forward to working with Andrew and the BDO team again.
Baird Capital invests in Prescient Healthcare Group
BDO contact for this transaction
ANDREWHOWSON Corporate Finance Partner andrew.howson@bdo.co.uk ALEX KARSKI Corporate Finance Director alex.karski@bdo.co.uk
John DiGiovanni | Principal, Baird Capital
INTERNATIONAL SNAPSHOTS 2022
32
BDO PRIVATE EQUITY
UNITED STATES OF AMERICA
Sale of Safe-WayGarage Doors LLC toCW Industrial Partners, LLC
BDO Capital Advisors, LLC acted on the sale of Safe-Way Garage Doors, LLC (Safe-Way or the Company), a portfolio company of Brixey & Meyer Capital, to CW Industrial Partners, LLC. BDO Capital served as exclusive financial advisor to Safe-Way on this transaction, which builds on the firm’s experience advising private equity backed businesses in the building products sector. Safe-Way Garage Doors, LLC is a leading manufacturer and distributor of residential, commercial, and industrial overhead garage doors and related parts and accessories. The Company boasts a 60+ year track record of offering a comprehensive array of steel and wood door products, and it differentiates itself through product quality and customer service. CW Industrial Partners is an industrial focused private equity firm based in Cleveland, Ohio. CW Industrial Partners, LLC acquires lower middle-market companies in manufacturing and industrial services and gives them the capital, support and freedom to grow.
BDO contact for this transaction
WILLIAM SHIRY Managing Director wshiry@bdocap.com
INTERNATIONAL SNAPSHOTS 2022
BDO PRIVATE EQUITY
33
UNITED STATES OF AMERICA
The BDO Transaction Advisory Services team in the US advised the former private equity investor, Norwest Equity Partners ('NEP'), in the investment in Wahoo Fitness by Rhône. Wahoo Fitness is a leader in innovative fitness technology for indoor cycling and endurance training. Rhône is a global private equity firm with a focus on investments in businesses with a transatlantic presence.
Sale ofWahoo Fitness by Norwest Equity Partners to Rhône
BDO contact for this transaction
CHRIS NELMS Partner Transaction Advisory Services Financial Due Diligence cnelms@bdo.com STEPHEN SONENSHINE Transaction Advisory Services Tax Due Diligence ssonenshine@bdo.com
INTERNATIONAL SNAPSHOTS 2022
FOR MORE INFORMATION:
The BDO network (referred to as the ‘BDO network’) is an international network of independent public accounting, tax and advisory firms which are members of BDO International Limited and perform professional services under the name and style of BDO (hereafter: ‘BDO member firms’). BDO International Limited is a UK company limited by guarantee. It is the governing entity of the BDO network. Service provision within the BDO network is coordinated by Brussels Worldwide Services BV, a limited liability company incorporated in Belgium. Each of BDO International Limited, Brussels Worldwide Services BV and the BDO member firms is a separate legal entity and has no liability for another entity’s acts or omissions. Nothing in the arrangements or rules of the BDO network shall constitute or imply an agency relationship or a partnership between BDO International Limited, Brussels Worldwide Services BV and/or the BDO member firms. Neither BDO International Limited nor any other central entities of the BDO network provide services to clients. BDO is the brand name for the BDO network and for each of the BDO member firms. © Brussels Worldwide Services BV April 2022 www.bdo.global
SUSANA BOO +44 (0)207 893 2316 susana.boo@bdo.global
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