Post on 18-Dec-2021
2
Automotive Parts,
Components & Systems
▪ Measuring,Analyzing&Controlling
Instr.
▪ Sensors, Relays & Switches
▪ Optical Instruments & Lenses
▪ Tactile Measurement Equiment
Instrumentation
▪ Substation Equipment
▪ Grid Managament Products
▪ Switchgear
▪ SCADA & Remote Monitoring
Power Generation &
Transmission
Dear Reader,
It is our pleasure to present you our quarterly report on M&A activities in the industrial segment. The report covers the macroe-
conomic situation in Europe, key themes in the Smart Robotics, M&A trends and relevant transactions in the industrial sector
published in the first quarter of 2019 by data provider Mergermarket for India, the DACH region (Germany, Austria, and Switzer-
land), neighbouring countries as well as UK, Italy, Norway, Sweden, Turkey, Canada, and US in the following segments:
▪ Machine Tools
▪ Mechanical Power Transmission
▪ Industrial Automation
▪ Relays & Industrial Controls
Machinery & Specialty
Equipment
▪ Hand Tools
▪ Fasteners & other Fixing Material
▪ Bearings and Gears
Tools and other
Industrial Equipment
▪ Insulation Materials
▪ Concrete and Wood Materials
▪ Fittings
Building Products
▪ Metal & Plastic Parts & Compo-
nents
▪ Electrical and Electronic Com-
ponents & Systems
▪ Drive Components & Systems
▪ Motors, Generators, Transformators
▪ Electricity Distribution and Control
▪ Cables and Installation Material
▪ Building Automation & Lighting
Equipment
Electrical Equipment
▪ Tubes, Films, Foils
▪ Sealings
▪ Pipes
Rubber & Miscellane-
ous Plastic Products
▪ Pumps, Motors & Compressors
▪ Actuators, Cylinders, Pistons
▪ Valves
Hydraulics & Fluid Power
3
Table of Contents
Macroeconomic Situation in India and Europe .............................................................................................. 4
Smart Robotics..................................................................................................................................................... 10
Global M&A Partners – Deals in Q1 2019 ........................................................................................................ 25
Country Focus ...................................................................................................................................................... 26
India ................................................................................................................................................................. 27
DACH region .................................................................................................................................................. 32
Benelux ............................................................................................................................................................ 47
Czech Republic ............................................................................................................................................. 53
Denmark ......................................................................................................................................................... 54
France ............................................................................................................................................................. 57
Italy .................................................................................................................................................................. 64
Norway ............................................................................................................................................................ 69
Poland ............................................................................................................................................................. 71
Sweden ........................................................................................................................................................... 72
United Kingdom ............................................................................................................................................. 76
Canada .......................................................................................................................................................... 84
Contact Details ................................................................................................................................................... 89
4
Macroeconomic Situation
India: As one of the world’s fastest-growing economies, with a current and projected an-
nual GDP growth of nearly 7.5% , India is a critical engine of global economic growth. The
Indian economy is likely to sustain the rebound growth it witnessed in FY2018–19, projected
to be in the 7.2-7.5% range and is estimated to remain upward of 7% for the year ahead.
Eurozone: According to European Commission’s Winter 2019 forecast, Euro area GDP is
expected to grow by 1.3% in 2019 and 1.6% in 2020 (Autumn Forecast: 1.9% in 2019; 1.7% in
2020). The EU GDP growth forecast was also revised down to 1.5% in 2019 and 1.7% in 2020
(1.9% in 2019; 1.8% in 2020). The drop can be primarily attributed to the softening of inter-
national trade and manufacturing activity, elevations in trade tensions and substantial fi-
nancial market pressures in some large emerging markets.
Eurozone GDP Growth
Source: Eurostat and Ifo-Istat-KOF Forecasts
• The global growth in economy is pro-jected to grow at 3.5% in 2019 and 3.6% in 2020
• Weakening growth of gross fixed capi-tal formation and net foreign demand led to the slowdown of the economic growth within the Eurozone
• The annual inflation rate was record-ed at 1.5% in February up from 1.4% in January in 2019 with the highest contribution from the services sector
• The unemployment rate was recorded at 7.8% in February 2019, stable as compared to the previous month
• Private consumption in the Eurozone is forecasted to grow by 1.8% in 2019
• Seasonally adjusted industrial produc-tion fell by 0.2% in the euro area (EA19) and remained unchanged the EU28 in February compared to Janu-ary 2019
5
Inflation
India's inflation rate rose to a five-month high of 2.86% y-o-y in March 2019 from 2.57% in February 2019. Food prices rose for the
first time in six months, while the inflation rate in India averaged 6.18% from 2012 until 2019.
The Euro area annual inflation rate was 1.5% in February 2019, up from 1.4% in January 2019 and 1.1% in February 2018. The low-
est annual rates were registered in Ireland (0.7%), Greece, Croatia and Cyprus (all 0.8%). The highest annual rates were record-
ed in Romania (4.0%), Hungary (3.2%) and Latvia (2.8%). In February 2019, the highest contribution to the annual euro area in-
flation rate came from services followed by food, alcohol & tobacco, energy and non-energy industrial goods.
Eurozone Inflation
Source: Trading Economics
6
Strengthening Labour Market
Steadily rising from 6.7% in November 2018 to 7% in December 2018, 7.1% in January 2019 and 7.2% in February, India's unem-
ployment rate declined to 6.7% in March 2019. After having remained over 7% in the three preceding months, this is a signifi-
cant drop.
The Euro area seasonally-adjusted unemployment rate was 7.8% in February 2019, stable compared with January 2019 and
down from 8.5% in February 2018 (lowest level since late 2008). The EU-28 unemployment rate was 6.5 % in February 2019, stable
compared with January 2019 and down from 7.1 % in February 2018.
Among the Member States, the lowest unemployment rates in February 2019 were recorded in Czechia (1.9 %), Germany (3.1
%) and the Netherlands (3.4 %). The highest unemployment rates were observed in Greece (18.0 % in December 2018), Spain
(13.9 %) and Italy (10.7 %).
Euro area and EU28 Unemployment Rates (Seasonally Adjusted Series)
Source: Eurostat
7
Increase in Private Consumption
India is expected to witness tremendous jump in consumer spending by 2030 driven by increased incomes and a growing con-
sumer economy. While India’s top 40 cities are projected to form a $1.5 tn opportunity by 2030, several small urban towns are
expected to equally drive large spend overall. Parallelly, developing rural infrastructure and retail landscape will unlock nearly
$1.2 tn of spend. Imports to India rose 1.44% from March 2018 to USD 43.44 bn in March 2019, due mainly to purchases of oil.
Considering April-18 to March-19, imports increased 8.99% to USD 507.44 bn from USD 465.58 bn in the same period of the previ-
ous fiscal year.
Private consumption in the Eurozone is forecasted to grow by 1.8% in 2019 and expected to remain the main growth driver,
benefiting from continued but slower labour market improvements and a pick-up in wage growth. However, as spending tends
to be more sensitive to changes in employment than in wages, households are expected to become gradually less inclined to
consume additional labour income. Household purchasing power is also set to benefit from lower energy prices, while disposa-
ble incomes are expected to receive support from expansionary fiscal measures.
Export Growth
Exports from India increased 11.02% from March 2018 to USD 32.55 bn in March 2019, boosted by sales of organic & inorganic
chemicals, engineering goods, textiles, drugs & pharmaceuticals, and petroleum products; reaching an all time high since
1957.
In 2018, euro area exports of goods to the rest of the world rose to EUR 2,277.6 bn (an increase of 3.7% compared with 2017),
and imports rose to EUR 2,084.2 bn (an increase of 6.6% with respect to the previous year). As a result the euro area recorded a
surplus of EUR 193.4 bn in 2018, compared with +EUR 240.8 bn in 2017. However, a trade confict of Europe with the US admin-
istration imposing tariffs on a wide range of goods including car tariffs, is likely to affect European exports adversely in the com-
ing years.
8
International Trade in Goods of the Euro Area, EUR bn
Source: Eurostat
Strong Industrial Production
Industrial production in India rose 0.1% y-o-y in February 2019, following a downwardly revised 1.4% increase in the previous
month. Considering April 2018 to February 2019, industrial production went up by 4%.
In February 2019 compared with January 2019, seasonally adjusted industrial production fell by 0.2% in the euro area (EA19)
and remained unchanged in the EU28, according to estimates from Eurostat.
In the EU28, production of energy fell by 2.2% and capital goods by 0.2%, while production of durable consumer goods re-
mained unchanged, intermediate goods rose by 0.2% and non-durable consumer goods by 0.7%. Among Member States, the
largest decrease in industrial production were registered in Lithuania (-4.7%), Greece (-2.7%) and Croatia (-2.3%). The highest
increase were observed in Poland (+1.7%), Bulgaria (+1.5%) and Hungary (+1.0%).
10
Smart Robotics
Overview
With the ongoing trend towards automation and continued innovative technical improvement in
industrial robots, the demand for robots has been increasing considerably.
Robots handling production line operations such as welding, painting and assembly are using ma-
chine learning to improve operational accuracy and predict breakdowns. The key component that
sets apart smart robotics from the traditional robotics is the fact that smart robots can interact and
collaborate with humans – often learning from their behavious and working alongside with them.
Smart Robots are divided into two broad categories: industrial robots (handling, welding, painting,
assembly, transport etc at manufacturing sites) and service robots (used for mobility (transportation),
medical/nursing/welfare/healthcare, security, cleaning and infrastructure)
Humanoid Robots are the robots that expresses feelings and emotions such as humans and can per-
form household tasks and also help older adults. The robot is smart, advanced and equipped with
many sensors. The robot has motorized systems as human eyes and controls like the human brain.
Sophia, the world’s first humanoid was built by Hanson Robotics, a HongKong based company.
Mobility and medi-
cal/healthcare related
robots: Companies are
working on network
based remote control
functions and data
collections & analysis
to improve their ser-
vices
Security and cleaning
robots: Companies are
working to implement
functions which use
networks to collect
data and link with op-
eration centres as well
as remote operations
and record checking
Infrastructure- related
robots: Companies are
working on network
based remote control
functions and data
collection and analy-
sis to improve their
services.
11
Market Size and Growth
The global smart robot industry is expected to reach USD 14.3bn by 2023, almost tripling from USD 4.9bn in 2018 by growing at a
CAGR of 23.7% over this five-year time period. High adoption of robots for personal use, such as companionship and enter-
tainment; support from governments worldwide to develop modern technologies; and financial assistance through govern-
ment budgets or subsidies are some of the key growth driving factors. It is estimated that 30% of all new robotic deployments
are expected to be smart, collaborative robots that operate three times faster than traditional robots while also being safer for
working around humans. Service robots are expected to hold the major share of the AI robots market in 2018, with revenue
growing at a much faster rate (c.30% CAGR in 2015-20 vs. 18% CAGR for Industrial robots during the same period)
Global Smart Robot Market
Source: MRFR Analysis
12
Estimated Annual Worldwide Supply of Industrial Robots from 2016-2020
Source: MRFR Analysis
Industrial Machine Vision by Geography
Europe and North America are the biggest markets for smart robots and are driven by rapid commercialization and the pro-
gress of their manufacturing industry. Additionally, the early acceptance of technology in these geographies has encouraged
the smart robot market to prosper at a brisk rate. On the contrary, it is expected that Asia Pacific (APAC) would be the front-
runner, registering fastest growth rate due to significant technological advancements. Additionally, the present boom in the
automotive sector is predicted to drive the smart robots markets in APAC. Within APAC, service robots market demand is likely
to grow in countries such as China and India owing to the advancements in the manufacturing sector.
13
Key Applications by End Markets
Increasing demand from Education
Teaching processes, which incorporate robotic-
based engagement methods, can approach
the effectiveness of human tutors. Socially-
engaging robots are used in education and
also as weight-loss coaches, play partners and
companions. In addition, humanoid robots can
be customized for a particular child’s needs.
Humanoids as Caregivers
Demand for professional caregivers is
on the rise and humanoids have the
potential to assist the elderly in the
near future. Japanese government
has already started funding the de-
velopment of elder care robots to fill
the shortage of specialized workers.
Humanoids to Take Over Dull and
Dangerous Jobs
Human robots are replacing humans in per-
forming dangerous tasks. For e.g. welding,
when done manually, can have hazardous
effects on the health of the human worker.
With robotic welding in place, humans no
longer need to inhale the fumes from metals.
Rise of the Delivery Robots
The once science fiction notion of robots car-
rying out deliveries really gained traction in
2018. Wheeled delivery bots are being used to
carry out deliveries in cities. Using an app, re-
cipients can say when and where they want
their package delivered, as well as keep an
eye on the robot’s progress in real time.
Rise of the Service Robots Service robots for private use is on the
rise. Having already significantly im-
pacted the agriculture, surgery and
logistics sectors, service robots are ex-
pected to offer greater assistive capa-
bility and value in the future.
Growing Application across Industries
Smart robotics is no longer confined to conven-
tional sectors like automation and manufactur-
ing. As a technology, Smart robotic is undergo-
ing a massive change and is being deployed
for a diverse range of applications across multi-
ple industries like healthcare, retail, agriculture,
logistics, and banking, etc.
Smart
Robots
14
Market Drivers
Next Wave Robotics Increasing sophistication of robotics in devices like drones or intelligent surgical devices leading to the growing opportunity for
players
High cost of Human labour With the rise in cost of labour in manufacturing, most of the manufacturing industries are turning towards robot labour for more accu-
racy, speed and cost reduction. Especially, for the dangerous worksites, such as mines, robot labour can effectively reduce the overall
operational cost to a significant extent
Big Data The International Data Corporation predicts that the amount of data in the world will grow ten times by 2025 to 163 ZB
(zettabytes) from the 16.1 ZB of data generated in 2016. This development makes the role of artificial intelligence im-
portant in analyzing data and making strategic decisions, hence leading to the growth of smart robotics
Machine Co-operation With the increasing need of automation, there’s an increasing need of connected machines and smart ro-
bots to communicate vast amounts of information very quickly to the other robots, together having the po-
tential to learn from a pool of shared experiences. This ability further drives the usage and hence the market
Demand for Augmented Human Function Average productivity changes in the nonfarm business sector fell from 2.6% during the 2000-2007
period to 1.2% from 2007-2017, according to the Bureau of Labor Statistics, paving the path for smart
robots that would help increase productivity
Adoption Among Professional Services Robo-advisors and surgical robots are some of the emerging uses of smart robots being increasingly adopted
on an industrial scale
Government R&D Increasing government funding and R&D due to increasing focus on efficient production especially in emerging coun-
tries is further driving the smart robotics market. The UK announced GBP 68mn (about USD 94.2mn) in funding for AI and
robotics research on November 8th 2017; China is building an AI research industrial park for USD 2.1bn; and the US is al-
ready leading in AI research funding
Market
Drivers
15
Key Investments in AI & robotics
• China-based AI and humanoid robotic company Ubtech secured USD 820m in Series C funding round led by Tencent
Holdings Ltd, setting a new record for the largest investment raised in a single round by an AI company
• TartanSence, India-based agritech startup, secured USD 2m seed funding from Omnivore, Blume Ventures and BEENEXT.
The company will use the funds to scale up its first AI-backed robot, designed to assist farmers
• US-based Misty Robotics, a spin-out company from Sphero, raised USD 11m in equity that was a follow-on to its Series A
round from 2017. The Misty II is an advanced personal robot that will ship to customers in 2019
• International Intelligent Machines, China-based developer of AI-powered driverless technology and humanoid intelligent
robot technology, secured USD 10m in a Series A round backed by SINO-BLR Industrial Investment Fund
• US-based company Vicarious Surgical closed a USD 10m round of funding led by Bill Gates’ Gates Frontier. The company
will use this money to continue to develop its technology combining surgical robots
• Embodied, US-based AI and robotics company, raised USD 22m in a Series A financing led by Calibrate Ventures, and will
use the funds to create an art companion robots to revolutionize human-centric care and wellness
16
Competitive Landscape (Major Public Companies)
Company Headquarters Sales
(EURm)
Market Cap
(EURm) Description
83,044.0 85,557.3
Siemens AG engages in the production and supply of systems for power gen-
eration, power transmission, and medical diagnosis
23,500.7 39,338.8
ABB Ltd. is a holding company, which engages in the development and
provision of power and automation technologies
5,609.9 33,320.6
FANUC Corp. engages in the development, manufacture, sale, and
maintenance of computer numerical control (CNC) systems, lasers, robot
systems, robomachines, roboshot, robocut and nano robots
5,602.8 20,157.9
Rockwell Automation, Inc. engages in the provision of industrial automation
and information services
925.3 3,438.2
iRobot Corp. is a robot company, which engages in designing and building
robots. Its products include robot vacuums, robot maps, and pool cleaners.
3,242.1 2,318.9 KUKA AG engages in the provision of intelligent automation solutions
Competitive Landscape (Private Companies)
17
Notable Transactions
EV: USD 340.7m
Deal Rationale
Will Help the company to expand its
unmanned system capabilities
Deal Rationale
Will allow UBTECH to solidify its R&D
activities, and enable it to create
brand expansion and acquire new
talent
Deal Rationale
Will enable Midea to enhance its
industrial robotics business and third
party logistics services
EV/EBITDA: n/a
EV: USD 9,253.3m
Deal Rationale
Will enable KCC Corporation to
return its investment
EV/EBITDA: n/a
EV: USD 4,246.3m
EV/EBITDA: n/a
EV: USD 4,395.7m
EV/EBITDA: 17.0
(86.5% stake) (5.1% Stake)
Consortium of investors
Private Investor
EV: USD 520.3m
Deal Rationale
Will enable Softbank to go global
with its robotics business
EV/EBITDA: n/a
(40% Stake)
EV: USD 254.4m
Deal Rationale
Will strengthen Teradyne's System
and Wireless Test businesses and will
help it to expand its business in high
growth segment of industrial auto-
mation
EV/EBITDA: 45.0
EV: USD 1,887.8m
Deal Rationale
Will help it expand into Robotics
EV/EBITDA: 12.4
(24.09% Stake)
Target Acquirer Target Acquirer Target Acquirer Target Acquirer
Target Acquirer Target Acquirer Target Acquirer
18
Outlook
The smart robotics market has matured steadily with the automation across various industries. Rapid technological advances and the
presence of several established automation and technology companies will drive the growth of the smart robots market. While robotics
has its roots in the manufacturing sector, there is an increasing acceptance and adoption of robots in several other industries, such as re-
sources and transportation. Organizations in these areas are attracted to the promise of greater efficiency and productivity. But they are
also turning to robotics to address other concerns such as skills shortages, workplace safety, and keeping up with the accelerating pace of
business. The emerging technological advancements within the robotics field coupled with rising investments towards industrial automation
will ultimately boost the overall market for smart robots globally.
19
M&A Trends
The first quarter of 2019 saw a decline in the M&A activity. Many European firms slowed their investment decision making as a result of rising
levels of political and economic uncertainty, coupled with growing protectionism. In Q1’19 the European M&A plummeted to its lowest
quarterly value since 3Q12. The relentless uncertainty surrounding how Brexit will unfold left UK M&A activity remaining at an historical low
during the first quarter. Confidence in pursuing blockbuster deals appeared to have taken a further hit following the proposed merger be-
tween Siemens and Alstom being blocked due to competition concerns. The top ten mega deals (> USD 10.0bn) did not target Europe.
The largest deal in the first quarter saw ZF Friedrichshafen acquire Swiss brake technology manufacturer WABCO for USD 7.2bn.
In Germany, rumours of banking consolidation re-emerged with Deutsche Bank and Commerzbank. Both banks have long been linked as
potential merger partners given their relative financial shortcomings. Foreign investment has also been comparatively quiet. Inbound M&A
dropped to the lowest quarterly value since Q4’17. Foreign investment is expected to drop further in the coming months following the an-
nouncement that the EU had approved a new foreign direct investment screening framework.
Private equity was one area that remained robust in 2019, with several high-profile buyouts announcements. There were 11 take-private
buyouts worth a combined USD 19.9bn announced including the USD 5.5bn takeover of UK satellite firm Inmarsat by a consortium formed
of Apax Partners, Warburg Pincus and CPPIB.
In Asia, dealmaking dipped to its lowest level in Q1’19. According to Merger Market, the deal value in China, which accounted for 46.6%
of the overall M&A activity APAC ex Japan in Q1’19, almost halved compared to the same period last year. Dealmaking remained lacklus-
tre across most of the rest of Asia with the notable exceptions of Singapore, Thailand and Indonesia, where M&A value increased despite
fewer deals due a to number of large cap deals. Buyouts plunged and PE also felt a squeeze as China-US trade war, domestic deleverag-
ing efforts to curb financial risks, and increased regulatory scrutiny made fundraising for private equity and venture capital more challeng-
ing.
Geopolitical uncertainties persisted in Europe and economic slowdowns emerged in Asia, US was the most valuable place to do business
globally with 51.7% of market share by total deal values, according to Merger Market. Nevertheless, despite the hefty sums paid for US
firms, deal count saw a decrease in Q1’19, posting 1,081 transactions – the fewest for a first quarter in half a decade. The biggest deal for
the quarter in the US and across all sectors was Bristol-Myers Squibb’s USD 89.5bn bid for Celgene. Dealmakers in 2019 seem ready to con-
tinue buying up valuable targets in the US. However, the effect of the Fed’s decision to halt interest rate hikes this year due to concerns
stemming from the government shutdown, trade tensions, and slowdowns abroad is yet to be seen.
20
Energy and Chemicals
The Global M&A volume in Q1 remained underwhelming. However, a late volume resurgence during the last two weeks of the quarter saw
total global M&A volume accelerate, credits to the mega deals in the Energy and Chemical sector including Saudi Aramco’s USD 69bn
offer for 70% of SABIC, a Saudi-based diversified manufacturing company, active in petrochemicals, chemicals; and DowDuPont’s USD
52bn spin-off of Dow Inc, the Material Science Divison of the Company.
Industrial (in the surveyed countries)
The M&A market in the industrial sector increased in the first quarter of 2019, accounting for altogether 483 transactions (vs. 467 in the
fourth quarter of the last year) registered by Mergermarket in the surveyed countries. The market volume increased in the first quarter by
around 3.4% as compared to the preceding one (i.e. the fourth quarter 2018) and increased approximately 2.1% as compared to the first
quarter of 2018.
The following figure reflects the quarterly development of the market volumes in the industrial sector over the last 5 years:
Quarterly development of number of transactions in the industrial sector
Lower number of industrial deals was recorded in Europe than in North-America during the first quarter 2019. Of the 483 transactions in the
observed regions during Q1 2019, 48.9% were recorded in Europe and 51.1% in North-America.
21
A comparison of the valuation levels observed during the first quarter 2019 and the fourth quarter of 2018 shows that the overall median for
the enterprise values increased to EUR 82.0m, due to a significant increase in values in Nordics Region, Germany’s Neighbour countries and
a slight increase in the DACH region. The median recorded enterprise value in Nordics, Germany’s Neighbour countries and DACH region
was higher than in the previous quarter by 919%, 84% and 20% respectively. However, the valuation multiples for sales and EBITDA de-
creased compared to Q4 2018. The analysis of the limited number of transactions with published valuation data (101 transactions making
approx. 20.9% out of the total) shows that the median multiples during Q1 2019 were 1.2x for sales and 7.7x for EBITDA compared to 1.7x
and 11.8x in Q4 2018.
Number of transactions with disclosed
values
DACH
region
Germany's
neighbour
countries*
Nordics** UK North
America Total
Enterprise value > € 1 bn 2 0 2 2 9 15
Enterprise value € 250 m - € 1 bn 0 1 0 1 9 11
Enterprise value € 100 m - € 250 m 2 6 0 0 10 18
Enterprise value € 50 m - € 100 m 2 3 1 0 10 16
Enterprise value < € 50 m 2 6 1 9 23 41
Total 8 16 4 12 61 101
Q1 2019
Median values
DACH
region
Germany's
neighbour
countries*
Nordics** UK North
America
Overall
median
Enterprise value in € million 121 70 710 15 82 82
Sales multiple 1.0 1.5 1.0 1.2 1.2 1.2
EBITDA multiple 13.1 7.7 6.0 7.6 8.0 7.7
Q4 2018
Median values
DACH
region
Germany's
neighbour
countries*
Nordics** UK North
America
Overall
median
Enterprise value in € million 101 38 70 47 279 70
22
Sales multiple 2.5 1.7 1.6 1.4 2.0 1.7
EBITDA multiple 14.4 11.1 11.8 9.0 12.4 11.8
2018 DACH
region
Germany's
neighbour
countries*
Nordics** UK North
America
Overall
median
Enterprise value in € million 75 63 70 56 180 70
Sales multiple 0.9 1.4 0.8 1.3 1.8 1.3
EBITDA multiple 9.5 11.1 9.7 9.5 12.0 9.7
* Except Austria and Switzerland
** Denmark, Norway, Sweden
In the European M&A marketplace Germany remained the region with the largest share of all European transactions in the in-
dustrial sector. The share of German transactions in all European transactions increased slightly from 20.0% in Q4 2018 to 23.7%
in the first quarter of 2019 (56 out of 236 deals registered in Germany). UK recorded 37 transactions, France 29, Italy 27 and
Netherlands 23 transactions.
On the buyer side, Germany, France and UK buyers completed 33, 30 and 27 transactions respectively in the industrial sector in
Europe, and thus were more active than USA and Canada investors, who completed 24 takeovers. To compare, the Top 3 ac-
quirers in the previous quarter were respectively France (35 takeovers), Germany (32) and USA & Canada (28). At the same
time, the number of acquisitions of industrial companies carried out by Asian investors in Europe increased to 20, and the trans-
actions carried out by North America, which decreased to 24. Japan and China were the most active in Europe among the
Asian buyers (7 transactions each). In Q4 2019 Asian buyers completed 16 industrial transactions (Japan 11, China 3) and North
American buyers completed 28 transactions.
23
The European market was dominated, although slightly in the first quarter of 2019 by cross border transactions (i.e. target and
buyer with different countries of origin), accounting for altogether 119 deals (i.e. 50.4% out of the total deal number). For the
purpose of comparison: in the previous quarter the split between domestic and cross-border transactions was 52.2% and 47.8%,
respectively. The following charts highlight some relevant findings regarding the target and buyer geographies for the Europe-
an market:
Breakdown of deals in Europe* by location of target companies
# of deals = 236
Breakdown of deals in Europe* by origin of buyer compa-
nies
# of deals = 236
*in countries covered in this report * in countries covered in this report
24
With 56 transactions in the industrial sector in Q1 2019 the German market remained strong. The split between “domestic” and
“cross-border” deals saw an increase in cross border takeovers compared to the previous quarter and accounted for approxi-
mately 60.7% out of the total deal number (vs. 49.0% in Q4 2018). In other words: in Q1 2019 Foreign investors acquired more
German companies than Domestic buyers did in Europe.
On the seller side, Industrial companies and Financial Investors continued to dominate the space as in the previous quarter of
same year. The following charts replicate our key findings with regard to the buyers’ geographies as well as buyers’ and sellers’
types in Germany:
Buyer geographies
# of deals = 56
Buyer types
# of deals = 56
Seller types
# of deals = 56
25
Global M&A Partners – Deals in Q1 2019
In the first quarter of 2019 we, Global M&A Partners, achieved a good score of the closed transactions. The following have,
among others, to be mentioned:
Acquired
Acquired
Acquired
Sale of Fahrzeugbau KEMPF
GmbH & Co. KG, a German man-
ufacturer of customised lorry semi-
trailers with tilt machines to
Steadfast Capital
Acquisition of Mas Limpio, a
Mexican rent and washing of
specialized textiles by Lavartex
Acquisition of Roder HTS Hocker
GmbH, a German manufacturer
of event tents and temporary
buildings by Findos Investor GmbH
and Bitburger Holding GmbH, pri-
vate equity companies
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
27 Source: Mergermarket
Country Focus – India
31/03/
2019
Shapoorji
Pallonji
Infrastructure
Capital Co.
Pvt. Ltd. (194
MW solar
assets)
n/a 178.3 Sprng Energy
Pvt Ltd
Shapoorji
Pallonji
Infrastructur
e Capital
Co. Pvt. Ltd.
Sprng Energy Pvt Ltd, an India-based renewable energy platform
owned by Actis LLP, the UK-based PE firm has acquired a 194MW
solar power assets from Shapoorji Pallonji Infrastructure Capital Co.
Pvt. Ltd. an India-based holding company having interests in
companies engaged in providing highway construction and
operation services, for a consideration of USD 70m. The transaction
values the solar assets at USD 200m. As per the transaction, Sprng has
acquired 194MW of the solar power assets from Shapoorji Pallonji.
The acquisition is part of Actis' strategy to build 2GW of renewable
power projects in India. Out of the 194MW, 144 MW are located in
Telangana and a 50 MW project in Rajasthan.Sprng is backed by
Actis since 2017 via its Actis Energy 4 Fund.
31/03/
2019
Welspun Corp
Ltd (Plates and
Coils Mill
Division)
153.8 109.1 Laptev
Finance Pvt Ltd
Welspun
Corp Ltd
"Laptev Finance Pvt Ltd, an India-based company having interest in
production, marketing and sales of steel plates, coils, pipes, bends
and coating of pipes, has agreed to acquire the Plates and Coils Mill
Division of Welspun Corp Ltd, a listed India-based manufacturer and
supplier of steel pipes and plates and coils and other steel industrial
products for infrastructure, energy, oil and gas exploration and
power generation, for a consideration of INR 8.5bn (USD 122.2m).
26/03/
2019
Unitech Power
Transmission
Limited
n/a 12.8 Sterling &
Wilson Pvt. Ltd.
n/a "Sterling & Wilson Pvt. Ltd., an India-based company engaged in
providing mechanical and electrical contracting services and a
subsidiary of Shapoorji Pallonji Group, an India-based conglomerate,
has agreed to acquire Unitech Power Transmission Limited, an India-
based company engaged in the business of manufacturing and
installation of power transmission lines, for an approximate
consideration of INR 1,000m (USD 14.5m). Pursuant to the transaction,
the consideration amount will be placed with the registry of the
Supreme Court, India. Post transaction, Unitech Power Transmission
will continue to work as the wholly owned subsidiary of Sterling &
Wilson.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
28 Source: Mergermarket
Country Focus – India
22/03/
2019
Sidwal
Refrigeration
Industries Pvt
Ltd (80% Stake)
20.7 n/a Amber
Enterprises
India Limited
n/a Amber Enterprises India Limited has agreed to acquire an 80% stake
in Sidwal Refrigeration Industries Pvt Ltd. Amber Enterprises India
Limited, a listed India-based company headquartered at Gurgaon,
is India-based company engaged in design and manufacturing of
refrigeration and air conditioning systems, related components and
extrusion sheets, sheet metal components. Sidwal Refrigeration
Industries Pvt Ltd, an India-based company headquartered in New
Delhi, is engaged in manufacturing and sale of heating, ventilation,
air conditioning (HVAC) and refrigeration equipment for railway
coaches, metro coaches, buses, telecom, commercial refrigeration
and related component.The transaction also includes acquisition of
Sidwal Technologies, a wholly-owned subsidiary of Sidwal
Refrigeration Industries. Amber will pay consideration in cash. Sidwal
has no long term debt & minimal short term working capital debt.
12/03/
2019
Aurangabad
Electricals
Limited
81.4 103.8 Mahindra CIE
Automotive
Ltd
Bagla
Group
Limited
Mahindra CIE Automotive Ltd has agreed to acquire Aurangabad
Electricals Limited, from Bagla Group Limited. MCIE will acquire AEL
for an enterprise value of INR 8.8bn (USD 125.2m). The consideration
includes a deferred payment of up to INR 622m (USD 8.9m),
contingent with NPV of future cash flows of subsidies for AEL under
the Government of Maharashtra’s Package Scheme of Incentives,
2013.
11/03/
2019
MILLTEC
Machinery
Limited
33.3 72.2 Ag Growth
International,
Inc.
Multiples
Alternate
Asset
Manageme
nt Private
Ltd
Ag Growth International, Inc. has entered into definitive agreement
to acquire MILLTEC Machinery Limited from Multiples Alternate Asset
Management Private Ltd (MAAM). Ag Growth will pay consideration
of CAD 109.5m (USD 81.6m) for the acquisition of MILLTEC. In addition
to consideration, Ag Growth will also pay earnouts of upto CAD
38.4m (USD 28.6m) based on achievement of Milltec Machinery's
EBITDA targets over the years.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
29 Source: Mergermarket
Country Focus – India
11/03/
2019
Pipeline
Infrastructure
Pvt Ltd
n/a 2,174.9 India
Infrastructure
Trust
Reliance
Industries
Holding Pvt
Ltd
India Infrastructure Trust (InvIT), an India-based infrastructure Trust, has
agreed to acquire Pipeline Infrastructure Pvt Ltd (PIPL), an India-
based company that own and operates gas pipeline, from Reliance
Industries Holding Pvt Ltd, an India-based holding company owned
by Mukesh Ambani and family, for a consideration for an enterprise
value of INR 170.5bn (USD 2.4bn).
The enterprise value includes cash of INR 6bn (USD 85.9m), Debt of
INR 164bn (USD 2.3bn), preference shares of INR 500m (USD 7.2m).
01/03/
2019
Ola Electric
Mobility Pvt Ltd
n/a n/a Tiger Global
Management;
Matrix Partners
India
n/a Ola Electric Mobility Pvt Ltd, an Indian electric generation and
transportation startup, raised USD 56.4m in a round led by Matrix
India and Tiger Global, according to a newswire. This is the first raise
for Ola Electric Mobility, backed by Ola Cabs, the company told
Reuters. Ola Electric Mobility operates electric cabs, auto-rickshaws,
buses, rooftop solar installations, charging stations, and battery
swapping experiments.
20/02/
2019
Huhtamaki
Foodservice
Packaging
Private Limited
n/a n/a Huhtamaki Oyj n/a n/a
14/02/
2019
Harita Seating
Systems
Limited
56.9 43.3 Minda
Industries
Limited
n/a Minda Industries Limited has agreed to acquire Harita Seating
Systems Limited.MIL will acquire 7,769,040 HSSL shares representing
100% stake, by issuing 152 fully-paid equity shares of MIL for every 100
fully-paid equity shares of HSSL, thererby valuing the transaction at
INR 3.2bn (USD 45.1m). The offer price of the transaction is INR 411.2
(USD 5.8).
10/02/
2019
San
Electromec
Industries
n/a n/a Dhoot
Transmission
Pvt. Ltd.
n/a Dhoot Transmission Pvt. Ltd., an India-based manufacturer of wiring
harnesses and power cords for the automotive and domestic
appliances market, has acquired San Electromec Industries, an
India- based manufacturer and exporter of automotive
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
30 Source: Mergermarket
Country Focus – India
components, for an undisclosed consideration.
01/02/
2019
Captiva
Energy
Solutions
Private Limited
n/a n/a PR INDUSTRIAL
s.r.l
n/a PR INDUSTRIAL s.r.l (d/b/a Pramac), an Italy-based manufacturer of
stationary and mobile generators and material handling equipment
and a subsidiary of Generac Holdings Inc., a listed US-based
designer and manufacturer of power generation equipment and
other engine powered products, has acquired an undisclosed
majority stake in Captiva Energy Solutions Private Limited, an India-
based company engaged in manufacture and sale of customized
generators, for an undisclosed consideration.
31/01/
2019
Prathamesh
Solarfarms
Limited (51%
Stake)
3.6 n/a Ostro Energy
Private Limited
Suzlon
Energy
Limited
Ostro Energy Private Limited, an India-based company which owns,
operates, and develops wind power projects, and a wholly-owned
subsidiary of ReNew Power Limited, an India-based company
engaged in wind power generation, has acquired a 51% stake in
Prathamesh Solarfarms Limited, an India-based company engaged
in operating solar power projects, from Suzlon Energy Limited, a listed
India-based provider of renewable energy solutions, for a
consideration of INR 570.9m (USD 8.1m).
30/01/
2019
KPIT
Technologies
Limited
(Telematics
hardware
business)
n/a n/a Minda
Industries
Limited
Birlasoft
Limited
Minda Industries Limited (MIL), an auto ancillary company, informed
the BSE yesterday that it has inked a deal to buy the telematics
hardware business of India's KPIT Engineering Ltd.
"Minda Industries Ltd. (MIL) has entered into a definitive agreement
(Agreement) with KPIT Engineering Ltd (KPIT) to purchase its business
related to telematics hardware products consisting VTS - AIS 140,
OBITS (On Bus Integrated Telematics Systems complying to UBS-II
specifications), and telematics products for School buses.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
31 Source: Mergermarket
Country Focus – India
22/01/
2019
Cyient DLM
Private Limited
(26% Stake)
48.9 n/a Cyient Ltd. L&T Capital
Company
Ltd; N.
Ranga Rao
& Sons
Private
Limited
Cyient Ltd., a listed India-based company, engaged in engineering,
manufacturing, data analytics and networks & operations
businesses, has agreed to acquire 26% stake in Cyient DLM Private
Limited, an India-based provider of design and manufacturing
services, from N. Ranga Rao & Sons Private Limited, an India-based
business conglomerate engaged in manufacturing fragrance
products and L&T Capital Company Ltd, an India-based engaged in
providing non-banking financial services, for a cash consideration of
INR 425m (USD 5.9m).
14/01/
2019
Hindusthan
National Glass
& Industries
Limited
247.7 n/a Lotus One
Investment
Pte. Ltd.
n/a Lotus One Investment Pte. Ltd. has agreed to acquire an undisclosed
stake in Hindusthan National Glass & Industries Limited, on private
placement basis. Lotus One will pay INR 3.9bn (USD 55.9m) as a
consideration, based on 46,990,840 compulsorily convertible
preference shares (CCPS) of HNG issued, valued at an issue price of
INR 83.8 per share, on a preferential basis. Each CCPS will get
converted into 1 equity share.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
32 Source: Mergermarket
Country Focus – DACH region
29/03/
2019
Hock Sachsen
GmbH
n/a n/a Rupf Industries
GmbH
n/a Rupf Industries GmbH, a Germany-based industrial group engaged
in automotive, hydraulics and engineering, has acquired Hock
Sachsen GmbH, a Germany-based company engaged in
manufacturing of industrial component, for an undisclosed
consideration, via insolvency proceeding.
The acquisition will help Rupf in expanding its business in Sauerland
region.
29/03/
2019
Multitec-Jakob
GmbH &
Co.KG
n/a n/a Erhart GmbH n/a Erhart GmbH, a Germany-based company engage in
manufacturing industrial products and components, has acquired
Multitec-Jakob GmbH & Co.KG, a Germany-based manufacturer of
tool machines, packaging punches and other industrial products, for
an undisclosed consideration.
28/03/
2019
WABCO 3,342.6 6,749.0 ZF
Friedrichshafen
AG
n/a WABCO Holdings (“Wabco”) [NYSE:WBC], a Delaware registered,
Switzerland headquartered and US listed maker of braking
technologies, agreed to be acquired by ZF Friedrichshafen (“ZF”),
the German auto parts company.The offer is USD 136.5 in cash.
27/03/
2019
HOERBIGER
Automatisierun
gstechnik
Holding GmbH
64.0 n/a HAWE
Hydraulik SE
HOERBIGER
Holding AG
HAWE Hydraulik SE, a Germany-based manufacturer of hydraulic
components and systems, has agreed to acquire HOERBIGER
Automatisierungstechnik Holding GmbH, a Germany-based
company engaged in manufacturing of pistons and pumps, from
HOERBIGER Holding AG, a Switzerland-based company that
manufactures compression, automation, and drive technology
solutions, for an undisclosed consideration.
27/03/
2019
Gmeinder
Getriebe
Gruppe
15.0 n/a Wikov Industry
a.s.
n/a Wikov Industry a.s., a Czech Republic-based manufacturer of
mechanical gear units, has agreed to acquire Gmeinder Getriebe
Gruppe (GGG), a Germany-based manufacturer and
maintenance/service provider of gearboxes and motor-gear for rail-
bound vehicles, for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
33 Source: Mergermarket
Country Focus – DACH region
26/03/
2019
H-TEC SYSTEMS
GmbH (40%
Stake)
n/a n/a MAN Energy
Solutions SE
GP Joule
GmbH
MAN Energy Solutions SE, a Germany-based developer and
manufacturer of large-scale diesel engines, turbo compressors,
industrial turbines and chemical reactor systems, has acquired a 40%
stake in H-TEC SYSTEMS GmbH, a Germany-based developer of
innovative products in the hydrogen sector, from GP Joule GmbH, a
Germany-based company engaged in developing, engineering,
and implementing renewable energy projects, for an undisclosed
consideration.
25/03/
2019
IBD Deisenroth
Engineering
GmbH
35.0 n/a Rheinmetall
AG
n/a Rheinmetall AG, the listed Germany-based producer of automotive
components and defense equipment, has acquired IBD Deisenroth
Engineering GmbH, the Germany-based supplier of passive
protection systems, principally for military vehicles, for an undisclosed
consideration. The transaction will help Rheinmetall to strengthen its
position as the major supplier of defense technology in Germany.
25/03/
2019
Sicko GmbH &
Co. KG
7.0 n/a Finexx GmbH Carl Sicko
(Private
Investor);
Jochen
Sicko
(Private
Investor)
Finexx GmbH, a Germany-based private equity firm, via its Finexx
Fund I, along with the management of Sicko GmbH & Co. KG, a
Germany-based provider of digitization and automation solutions for
the woodprocessing industry, have acquired the company in a
management buyout transaction, from Mr. Carl Sicko and Mr.
Jochen Sicko, Germany-based private individuals, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
34 Source: Mergermarket
Country Focus – DACH region
22/03/
2019
Hitzinger
GmbH
n/a n/a Doerflinger
Management
& Beteiligungs
GmbH; Daniel
Huber (Private
Investor);
Jochen Philipp
(Private
Investor);
Dietmar
Pfeiffer (Private
Investor)
n/a Doerflinger Management & Beteiligungs GmbH, an Austria-based
investment holding company, along Mr. Dietmar Pfeiffer, Mr. Daniel
Huber and Mr. Jochen Philipp, the Austria-based private investors
have together agreed to acquire Hitzinger GmbH, an Austria based
manufacturer of alternators, airport equipment, converters, gensets
and UPS systems, for an undisclosed consideration. This transaction is
a part of insolvency proceedings of Hitzinger GmbH.
15/03/
2019
HKR Seuffer
Automotive
GmbH & Co.
KG
n/a n/a Hyoseong
Electric Co.
Ltd; KRAH
Elektronische
Bauelemente
GmbH
n/a Hyoseong Electric Co. Ltd, the South Korea-based company that
develops, manufactures, and sells automotive motors and KRAH
Elektronische Bauelemente GmbH, the Germany-based company
manufacturer of resistors and controllers, has agreed to acquire HKR
Seuffer Automotive GmbH & Co. KG, the Germany-based company
that develops and produces innovative power electronics in the
automotive sector, for an undisclosed consideration.
14/03/
2019
Poligrat GmbH n/a n/a KSO
Edelstahlbeizer
ei GmbH
n/a KSO Edelstahlbeizerei GmbH, a Germany-based stainless-steel
pickling company, has agreed to acquire Poligrat GmbH, a
Germany-based electro-chemical surface refinement company, for
an undisclosed consideration.
11/03/
2019
Jumag
Dampferzeuge
r GmbH (60%
Stake)
n/a n/a Abacus Alpha
GmbH
n/a Abacus Alpha GmbH, a Germany-based private equity firm, has
acquired a 60% stake in Jumag Dampferzeuger GmbH, a Germany-
based manufacturer of steam generators, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
35 Source: Mergermarket
Country Focus – DACH region
08/03/
2019
Sarwa GmbH n/a n/a Sarwabhotla
family
n/a The Sarwabhotla family, an India-based family, has acquired DMS-
CNC Technik GmbH, a Germany-based company manufacturing
and supplying automotive components, for an undisclosed
consideration.
07/03/
2019
Stahlhammer
Bommern
GmbH
n/a n/a Turbo
Investment BV
Columbus
McKinnon
Corporatio
n
Turbo Investment BV, a Netherlands-based investment holding
company has acquired Stahlhammer Bommern GmbH (STB), a
Germany-based iron and steel forging manufacturer, from Columbus
McKinnon Corporation (CMCO), a listed US-based designer,
manufacturer and marketer of hoists, rigging tools, for an undisclosed
consideration.
06/03/
2019
Walterscheid
Powertrain
Group
n/a n/a One Equity
Partners LLC
GKN Plc One Equity Partners LLC, the US-based private equity firm, has
agreed to acquire Walterscheid Powertrain Group, a Germany-
based provider of equipment and aftermarket parts and services for
off-highway powertrain applications, from GKN Plc, the UK-based
engineering group engaged in the provision of services to
automotive and aerospace industries, and a subsidiary of Melrose
Industries Plc, the listed UK based and listed industrial company
specialising in the acquisition and performance improvement of
underperforming businesses, for an undisclosed consideration.
05/03/
2019
Ubitricity
Gesellschaft
fuer verteilte
Energiesystem
e GmbH
n/a n/a Electricite de
France S.A.;
Honda Motor
Co., Ltd.;
Next47 GmbH
n/a Electricite de France S.A., the listed France-based company
engaged in producing, transmitting, distributing, importing and
exporting electricity, Honda Motor Co., Ltd., the listed Japan-based
company engaged in the manufacturing of automobiles and
motorcycles and Next47 GmbH, a Germany-based private equity
and venture capital firm of Siemens AG, has acquired an
undisclosed stake in Ubitricity Gesellschaft fuer verteilte
Energiesysteme GmbH, a Germany-based developer of charging
systems for electric vehicles, for a consideration of EUR 20m
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
36 Source: Mergermarket
Country Focus – DACH region
01/03/
2019
KACO new
energy GmbH
n/a n/a Siemens AG n/a Siemens AG, a listed Germany-based diversified electronics and
electrical engineering company operating in the industrial, energy
and healthcare sectors, has agreed to acquire KACO new energy
GmbH, a Germany-based company engaged in manufacturing
power supply systems, for an undisclosed consideration
28/02/
2019
DFT
Maschinenbau
GmbH
n/a n/a HAHN
Automation
GmbH
n/a HAHN Automation GmbH, a Germany-based company engaged in
the manufacture and installation of automating machinery and a
subsidiary of HAHN Group, a Germany-based provider of
automation and robotic solutions, has acquired DFT Maschinenbau
GmbH, an Austria-based manufacturer of assembly and testing
technology, for an undisclosed consideration. HAHN Automation will
be able to consolidate its position in the market and expand its
expertise in assembly and testing technology.
28/02/
2019
Kempf GmbH 80.0 n/a Steadfast
Capital GmbH
Kempf
family
Steadfast Capital GmbH, a Germany-based private equity firm via its
fund IV, has acquired an undisclosed majority stake in Kempf GmbH,
a Germany-based manufacturer of customized lorry semi-trailers with
tilt mechanisms, from Kempf family, a Germany-based family, for an
undisclosed consideration.
28/02/
2019
Frauscher
Sensortechnik
GmbH
70.0 n/a Delachaux S.A. Greenbriar
Equity
Group, L.P.
Delachaux S.A., a France-based company engaged in the railways,
conductic, and metals businesses has acquired a majority stake in
Frauscher Sensortechnik GmbH, a Austria-based manufacturer of
wheel sensors and axle counting systems for railway security systems
from, Greenbriar Equity Group LLC, the US-based private equity firm,
for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
37 Source: Mergermarket
Country Focus – DACH region
27/02/
2019
Auer
Metallkompon
enten GmbH
n/a n/a gh Beteiligungs
GmbH
n/a gh Beteiligungs GmbH has agreed to acquire Auer
Metallkomponenten GmbH. gh Beteiligungs GmbH is an Austria-
based investment company owned by Mr. Erhard Grossnigg and Mr.
Gunther Heiden, the Austria-based private investors. Auer
Metallkomponenten GmbH is a Germany-based supplier of
aluminum and magnesium die-cast parts for the automotive industry,
headquartered in Amberg.
27/02/
2019
Auer Guss
GmbH
n/a n/a gh Beteiligungs
GmbH
n/a gh Beteiligungs GmbH has agreed to Auer Guss GmbH. gh
Beteiligungs GmbH is a Austria-based investment company owned
by Mr. Erhard Grossnigg and Mr. Gunther Heiden, the Austria-based
private investors. Auer Guss GmbH is a Germany-based supplier of
aluminum and magnesium die-cast parts for the automotive industry,
headquartered in Amberg.
27/02/
2019
Omni Ray AG 32.0 n/a Addtech AB n/a Addtech AB, a listed Sweden-based company that develops and
sells components and systems to industrial companies and service
industry, has agreed to acquire an undisclosed majority stake in
Omni Ray AG, a Switzerland-based distributor of technology
products for industrial automation sector, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
38 Source: Mergermarket
Country Focus – DACH region
25/02/
2019
IFCO Systems
Gmbh
958.0 2,211.3 Triton Partners;
Abu Dhabi
Investment
Authority
Brambles
Limited
Triton Partners and Abu Dhabi Investment Authority has agreed to
acquire IFCO Systems Gmbh from Brambles Limited. Triton Partners
(TP) is a UK-based private equity firm, headquartered in London. Abu
Dhabi Investment Authority (ADIA) is a UAE-based sovereign wealth
fund of the Government of Abu Dhabi, headquartered in Abu
Dhabi.
IFCO Systems Gmbh (IFCO) is a Germany-based company that
manufactures and supplies reusable plastic containers to retailer and
producer markets, headquartered in Pullach. Brambles Limited is a
listed Australia-based company headquartered in Sydney, New
South Wales, is engaged in supply-chain logistics, headquartered in
Sydney.
25/02/
2019
Linde +
Wiemann SE &
Co. KG
610.8 n/a JBM Auto Ltd n/a JBM Auto Ltd, a listed India-based company engaged in the
manufacture of sheet metal components, welded assemblies, tool
and dies primarily for automobile industry, has acquired an
undisclosed majority stake in Linde + Wiemann SE & Co. KG, a
Germany-based supplier of automotive structural components and
assemblies, for an undisclosed consideration.
22/02/
2019
Terex
Corporation
(Demag Brand
Crane Business
and certain
assets)
n/a 189.6 Tadano Ltd Terex
Corporatio
n
Tadano Ltd. has agreed to acquire Demag Brand Crane Business
and certain assets from Terex Corporation. Tadano Ltd. is a listed
Japan-based company involved in manufacturing and sale of
construction machinery, headquartered in Tokyo. Terex Corporation,
the listed US-based manufacturer of construction, mining and other
heavy industries equipment’s and provider of financing and related
services for equipment purchases, headquartered in Westport,
Connecticut.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
39 Source: Mergermarket
Country Focus – DACH region
22/02/
2019
Rheinhuette
Pumpen
GmbH
n/a 81.0 ITT Inc. Aliaxis
Group S.A.
/ N.V.
ITT Inc. has agreed to acquire Rheinhuette Pumpen GmbH from
Aliaxis Group S.A. / N.V. ITT Inc. is the listed US-based engineering and
manufacturing company engaged in water and fluids
management, global defense and security, and motion and flow
control, headquartered in White Plains, New York. Rheinhuette
Pumpen GmbH is a Germany-based designer and manufacturer of
centrifugal and axial flow pumps, headquartered in Wiesbaden.
Aliaxis Group S.A. / N.V. is a Belgium-based manufacturer and
distributor of plastic fluid handling systems for residential and
commercial construction, and industrial and public infrastructure
applications, headquartered in Brussels.
21/02/
2019
RENA GmbH 120.0 n/a Equistone
Partners
Europe Limited
Capvis
Equity
Partners AG
Equistone Partners Europe Limited along with the management of
RENA Technologies GmbH, have agreed to acquire the company
from Capvis Equity Partners AG, for an undisclosed consideration.
18/02/
2019
BRUMA
Schraub- und
Drehtechnik
GmbH
11.0 n/a Bossard
Holding AG
Bossard Holding AG, a listed Switzerland-based provider of fasteners
and fastening technology, has acquired BRUMA Schraub- und
Drehtechnik GmbH, a Germany-based supplier of fastening solutions
in the industrial sectors, for an undisclosed consideration. Bossard
strengthens its market position in the area of engineered products
and its presence in the German market by acquiring BRUMA.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
40 Source: Mergermarket
Country Focus – DACH region
15/02/
2019
Sonnen GmbH n/a n/a Shell Ventures Munich
Venture
Partners;
eCAPITAL
entreprene
urial
Partners
AG; SET
Manageme
nt B.V.; GE
Ventures;
Inven
Capital,
SICAV, a.s.
Shell Ventures, a Netherlands-based private equity arm of Royal
Dutch Shell Plc, the listed Netherlands-based company engaged in
exploring, producing and refining petroleum, has agreed to acquire
and undisclosed majority stake in Sonnen GmbH, a Germany-based
provider of energy storage solutions, from a group of sellers, for an
undisclosed consideration.
13/02/
2019
C-CON
Holding GmbH
(75.1% Stake)
n/a n/a MT
Technologies
GmbH
n/a MT Technologies GmbH, a Germany-based company manufacturing
and designing machines for the automotive industry, and a
subsidiary of Ayala Corporation, a listed Philippines-based
conglomerate has agreed to acquire 75.1% stake in C-CON Holding
GmbH, a Germany-based manufacturer of automobile
components, for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
41 Source: Mergermarket
Country Focus – DACH region
13/02/
2019
Veja Mate
Offshore
Project GmbH
(80% Stake)
n/a n/a KGAL GmbH &
Co. KG; Ingka
Holding B.V.;
Commerz Real
AG; wpd invest
GmbH
Siemens
Financial
Services
GmbH;
Copenhag
en
Infrastructur
e Partners
K/S;
Highland
Group
Holdings
A consortium of Commerz Real AG, wpd invest GmbH, KGAL GmbH
& Co. KG and Ingka Holding B.V., has acquired an approximately
80% stake in Veja Mate Offshore Project GmbH from Siemens
Financial Services GmbH, Copenhagen Infrastructure Partners K/S
and Highland Group Holdings. Veja Mate Offshore Project GmbH is a
Germany-based 402 MW offshore wind farm located in the North
Sea.
11/02/
2019
SchahlLED
Lighting GmbH
20.0 n/a Active Capital
Company B.V.
n/a Active Capital Company B.V., a Netherlands-based private equity
firm, along with the management of SchahlLED Lighting GmbH, a
Germany-based company specialized in radio-controlled lighting
systems for industrial buildings, have acquired the company in a
management buyout transaction, for an undisclosed consideration.
11/02/
2019
metallbau
HETZE GmbH &
Co. KG
10.0 n/a Undisclosed
bidder
n/a An undisclosed bidder has acquired metallbau HETZE GmbH & Co.
KG, a Germany-based metal construction company, for an
undisclosed consideration.
07/02/
2019
Meyer Burger
Technology
AG (Wafering
business)
44.4 44.0 Precision
Surfacing
Solutions
GmbH & Co.
KG
Meyer
Burger
Technology
AG
Precision Surfacing Solutions GmbH & Co. KG (PSS), a Germany-
based supplier of high-precision machine tools and services for
lapping, polishing, grinding and honing has agreed to acquire the
Switzerland-based photovoltaic and specialized materials, wafering
equipment and service business of Meyer Burger Technology AG, a
listed Switzerland-based producer of machines that slice and
process materials for the semiconductor, photovoltaic, optical and
ceramic industries, for a cash consideration of CHF 50m (EUR 49.9m)
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
42 Source: Mergermarket
Country Focus – DACH region
06/02/
2019
EMMSA
Deutschland
GmbH
10.0 n/a Electra M&E
Polska Sp. z
o.o.
n/a Electra M&E Polska Sp. z o.o., a Poland-based company that designs
and installs complex heating, cooling, ventilation and air
conditioning, electrical, as well as technological and industrial
systems, and a subsidiary of Electra Ltd, the listed Israel-based
company engaged in real-estate development, investment in high
yield properties, construction, electro-mechanical systems and
infrastructure business, has acquired EMMSA Deutschland GmbH, a
Germany-based provider of industrial ventilation and air-
conditioning systems, for an undisclosed consideration.
05/02/
2019
Pintsch
Bubenzer
GmbH (50%
Stake)
n/a n/a Dellner Brakes
AB
Active
Ownership
Capital Sarl
Dellner Brakes AB, a Sweden-based company engaged in
developing, manufacturing, marketing and maintenance of brakes
and related power transmission products for the industrial, marine
and renewable energy markets, has acquired 50% stake in Pintsch
Bubenzer GmbH, a Germany-based company engaged in design
and manufacturing of braking systems and related products, from
Active Ownership Capital Sarl, a Luxemburg-based investment firm,
for an undisclosed consideration.
Post acquisition, Dellner will own 100% stake in Pintsch Bubenzer. In
January 2018, Dellner and AOC, through their 50:50: joint venture
Dellner Bubenzer Group GmbH, acquired Pintsch Bubenzer, for an
undisclosed consideration.
05/02/
2019
Schotz
Verkehrs- und
Arbeitsstellensi
cherung
GmbH
n/a n/a AVS
Verkehrssicher
ung GmbH
n/a AVS Verkehrssicherung GmbH, the Germany-based provider of
traffic safety equipment and services, and a portfolio company of
Triton Partners, the UK-based private equity firm, has agreed to
acquire Schotz Verkehrs- und Arbeitsstellensicherung GmbH, the
Germany-based provider of traffic and construction site security, for
an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
43 Source: Mergermarket
Country Focus – DACH region
05/02/
2019
Systeme +
Steuerungen
GmbH
17.0 n/a Nidec-Shimpo
GmbH
n/a Nidec-Shimpo GmbH, a Germany-based manufacturer and seller of
power transmission equipment, precision measuring instruments and
pottery equipment and an affiliate of Nidec Shimpo Corporation,
which is a subsidiary of Nidec Corporation, has acquired Systeme +
Steuerungen GmbH (SYS), a Germany-based manufacturer and
seller of high-speed and high precision feeding equipment and
provider of retrofitting services, for an undisclosed consideration.
04/02/
2019
SAE IT-systems
GmbH & Co.
KG
15.0 n/a Lacroix SA n/a Lacroix SA, the listed France-based company engaged in designing,
manufacturing and marketing of signaling and electronic control
equipment, has acquired SAE IT-systems GmbH & Co. KG, a
Germany-based manufacturer of instruments used to measure
electricity and electrical signals, for an undisclosed consideration.
01/02/
2019
DESCH
Antriebstechni
k GmbH & Co.
KG (70% Stake)
n/a n/a Nidec
Corporation
n/a Nidec Corporation, the listed Japan-based company engaged in
manufacturing and sales of motors and other electronic products
worldwide, through its subsidiary, Nidec-Shimpo GmbH, the German-
based company engaged in manufacturing and sales of precision
measuring instruments, has acquired 70% stake of DESCH
Antriebstechnik GmbH & Co. KG, the Germany-based company
engaged in designing and providing drive and system solutions, for
an undisclosed consideration.
31/01/
2019
Spindel- und
Lagerungstech
nik Fraureuth
GmbH
49.0 n/a Avedon
Capital
Partners B.V.
n/a Spindel-und Lagerungstechnik Fraureuth (SLF), a Germany-based
manufacturer of special spindle units and bearings, has been
acquired by PE firm Avedon Capital Partners, in collaboration with
the company's founders.The transaction will enable the growth of
SLF.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
44 Source: Mergermarket
Country Focus – DACH region
30/01/
2019
Schafer
Technik GmbH;
Schäfer
Technik GmbH;
C. Pluss & Co.
AG
n/a n/a Rubix Group
International
Limited
Markus
Schafer
(Private
Investor)
Rubix Group International Limited, the UK-based industrial services
group providing outsourced management of electronic equipment
related services as well as supplying bearings, power transmission
products and engineering and other related industrial services, has
agreed to acquire 3 companies from Markus Schafer, a Germany-
based private investor, for an undisclosed consideration.
30/01/
2019
WaCo
Geraetetechni
k GmbH
n/a n/a Wickeder
Westfalenstahl
Gmbh
n/a Wickeder Westfalenstahl Gmbh, a Germany-based manufacturer of
metal strips also operating steel processing, cladding and cold rolling
mills, has acquired WaCo Geraetetechnik GmbH, a Germany-based
company engaged in processing CNC sheet metal, for an
undisclosed consideration.
29/01/
2019
Ziemann
Sicherheit
Holding GmbH
175.0 160.0 Loomis AB HANNOVER
Finanz
GmbH
Loomis AB has agreed to acquire Ziemann Sicherheit Holding GmbH
from HANNOVER Finanz GmbH. Loomis AB, a listed Sweden-based
provider of cash handling services for banks, retailers and other
commercial clients, headquartred in Stockholm. Ziemann Sicherheit
GmbH, a Germany-based company engaged in the provision of
cash handling services, security services and trading of currencies
and precious metals, headquartred in Schallstadt. HANNOVER Finanz
GmbH, a Germany-based private equity firm, headquartred in
Hannover. The transaction is valued at a consideration of
approximately EUR 160m, payable on completion.
28/01/
2019
ISI Automation
GmbH & Co.
KG.
n/a n/a Jungheinrich
AG
n/a Jungheinrich AG, a Germany-based provider of industrial trucks,
warehousing technology and materials flow technology, has agreed
to acquire a majority stake in ISI Automation GmbH & Co. KG., a
Germany-based turnkey automation solution specialist, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
45 Source: Mergermarket
Country Focus – DACH region
28/01/
2019
KME Germany
GmbH & Co.
KG (copper
alloy rod &
tube units)
n/a n/a Zhejiang
Hailiang Co.,
Ltd.
KME
Germany
GmbH &
Co. KG.
Zhejiang Hailiang Co., Ltd. has agreed to acquire KME Germany
GmbH & Co. KG (copper alloy rod & tube units) from KME Germany
GmbH & Co. KG. Zhejiang Hailiang Co., Ltd., a China-based
company engaged in the manufacture and distribution of copper
products. urces of Zhejiang Hailiang. This transaction is in line with
Zhejiang Hailiang's strategy to integrate the target's business and
achieve a significant increase in its business. This transaction will
accelerate the globalization of Zhejiang Hailiang and help Zhejiang
Hailiang expand the European market.
25/01/
2019
Bystronic
Lenhardt
GmbH
n/a 68.0 Glaston
Corporation
Conzzeta
Holding AG
Glaston Corporation has agreed to acquire Bystronic Lenhardt
GmbH from Conzzeta Holding AG. Glaston Corporation is a listed
Finland-based company headquartered in Helsinki, is a provider of
heat treatment machines and services for architectural, solar,
appliance and automotive applications. Bystronic Lenhardt GmbH is
a Germany-based company headquartered in Neuhausen, is
engaged in providing machinery, systems and services for the
processing of architectural and automotive glass. Conzzeta Holding
AG is a Switzerland-based company headquartered in Zurich, is
engaged in chemicals, machinery and systems engineering.
24/01/
2019
Zehnder
Pumpen
GmbH
n/a n/a SFA Group MS Industrie
AG; CFH
Manageme
nt GmbH ;
MuM
Industriebet
eiligungen
GmbH
SFA Group, a France-based manufacturer of pumps, electric toilets
and other washroom fittings, has acquired Zehnder Pumpen GmbH,
a Germany-based manufacturer liquid pumps and systems for the
transport of waste and dirty water, from a group of sellers, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
46 Source: Mergermarket
Country Focus – DACH region
24/01/
2019
EM-motive
GmbH (50%
Stake)
n/a n/a Robert Bosch
GmbH
Daimler AG Robert Bosch GmbH, a Germany-based company engaged in
providing technology and services through mobility solutions,
industrial technology, consumer goods, energy and building
technology segments, has agreed to acquire a 50% stake in EM-
motive GmbH, a Germany-based manufacturer of electric motors,
from Daimler AG, the listed Germany-based vehicle manufacturer,
for an undisclosed consideration.
22/01/
2019
Neluplast
Tiefzieh-
Technik GmbH
n/a n/a RPC Group Plc n/a RPC Group Plc, the listed UK-based manufacturer and supplier of
rigid plastic packaging, has acquired Neluplast Tiefzieh-Technik
GmbH, a Germany-based plastic packaging specialist, for an
undisclosed consideration.
16/01/
2019
Gebr. Rath
Werkzeugbau
GmbH
20.7 n/a Navigator
Capital GmbH;
Accursia
Capital GmbH
Linde +
Wiemann
SE & Co. KG
Accursia Capital GmbH, a Germany-based private equity firm, and
Navigator Capital GmbH, a Germany-based investment holding
company, have acquired Gebr. Rath Werkzeugbau GmbH, a
Germany-based manufacturer of tools and stamping technology for
automotive and sheet metal processing industry, from Linde +
Wiemann SE & Co. KG, a Germany-based supplier of automotive
structural components and assemblies, for undisclosed
consideration.
14/01/
2019
SAM
Automotive
Gmbh
n/a n/a Fuyao Glass
Industry Group
Co., Ltd.
n/a Fuyao Glass Industry Group Co., Ltd has agreed to acquire SAM
Automotive Gmbh Fuyao Glass Industry Group Co., Ltd., a China-
based SHSE-listed and HKEx-listed company headquartered in
Fuqing, Fujian province, is engaged in the manufacture and
distribution of float glasses and automobile glasses. SAM Automotive
Gmbh is a Germany-based manufacturer of aluminum components
for the automotive industry, headquartered in Boehmenkirch-
Heidhoefe.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
47 Source: Mergermarket
Country Focus – DACH region
10/01/
2019
Lehren- und
Messgeraetew
erk
Schmalkalden
GmbH
11.0 n/a Marposs S.p.A. n/a Marposs S.p.A., an Italy-based industrial metrology systems provider,
has acquired Lehren- und Messgeraetewerk Schmalkalden GmbH
(LMS), a Germany-based company engaged in the manufacturing
and sale of precision gauges and measuring instruments, for an
undisclosed consideration.
10/01/
2019
KW-Kranwerke
AG
20.0 n/a Nimbus BV Karl Philipp
Schnecken
berger
(Private
investor)
Nimbus BV, the Netherlands-based private equity firm, has acquired
KW-Kranwerke AG (KWM), a Germany-based company engaged in
the design and manufacturing of overhead travelling cranes, from
shareholders including Mr. Karl-Philipp Schneckenberger, a
Germany-based private investor interested in crane and conveyor
facility specialists, for an undisclosed consideration.
09/01/
2019
Fortuna
Maschinen
GmbH
n/a n/a Koenig
Maschinen
Gesellschaft
m.b.H.
n/a Koenig Maschinen Gesellschaft m.b.H., an Austria-based company
engaged in manufacturing of artisanal and industrial baking
machinery, has acquired Fortuna Maschinenbau Holding AG, a
Germany-based manufacturer of bakery machines, for an
undisclosed consideration.
09/01/
2019
ZG-Zahnrader
und Getriebe
GmbH
n/a n/a MAHLE
Powertrain Ltd
n/a MAHLE Powertrain Ltd (MPL), the UK-based company engaged in
wholly owned engineering services, has acquired ZG-Zahnrader und
Getriebe GmbH (ZGG), a Germany-based manufacturer of
transmission systems, for an undisclosed consideration.
09/01/
2019
von Oertzen
GmbH
11.0 n/a Hako Holding
GmbH & Co.
KG
Lampe
Privatinvest
Manageme
nt GmbH
Hako Holding GmbH & Co. KG, the Germany-based company that
produces cleaning equipment and a subsidiary of L. Possehl & Co.
mbH, the Germany-based company engaged in the construction,
metals, elastomer, electronics, trading and machinery businesses,
has acquired von Oertzen GmbH, the Germany-based company
engaged in manufacturer of high pressure cleaning systems and
equipment from Lampe Privatinvest Management GmbH, the
Germany-based private equity firm, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
48 Source: Mergermarket
Country Focus – DACH region
09/01/
2019
Nextys SA n/a n/a TDK
Corporation
n/a TDK Corporation, the listed Japan-based manufacturer of electronic
components and ICs, wireless computer networking products,
magnetic heads for HDD, digital recording hardware and advances
digital recording media, has acquired Nextys SA, the Switzerland-
based supplier of power electronics products solutions, through TDK-
Lambda Corporation, its wholly-owned subsidiary and the Japan-
based company engaged in designing, manufacturing, marketing,
and servicing switching power supplies and peripherals,
uninterruptible power systems, and engine generators, for an
undisclosed consideration.
07/01/
2019
ETL
Elektrotechnik
Lauter GmbH
40.0 n/a Primepulse SE n/a Primepulse SE, a German investment holding company, acquired
Germany-based ETL Elektrotechnik Lauter GmbH. The transaction will
allow ETL to grow further and increase its competitiveness. ETL will get
an access to Primepulse's expertise and resources which will result in
synergies. Post Deal Details: The previous portfolio of Primepulse
along with the latest acquisitions is intended to exceed one billion in
its sales in the current financial year with over 4,300 employees in the
consolidated companies. Conditions: The transaction is subject to
the approval by the antitrust authorities. Target (ETL) Germany:
Ownership: Private Business Description: EMS company providing
services including development support, material and project
management, production, logistics, and after-sales service Size: Has
180 employees and sales of EUR 40m Buyer (Primepulse) Germany:
Ownership: Private Business Description: Tech investment holding
company Size: Has four subsidiary companies, 4,200 employees, and
EUR 850m in sales Source Links: Primepulse SE press release, 07
January 2019 Primepulse SE press release, 07 January 2019 (German)
ETL Elektrotechnik Lauter GmbH press release, 07 January 2019
(German) ETL Elektrotechnik Lauter GmbH press release, 07 January
2019
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
49 Source: Mergermarket
Country Focus – DACH region
07/01/
2019
General
Aerospace
GmbH; Clevers
S.R.L.
12.0 n/a Stabilus GmbH n/a Stabilus S.A., the listed Germany-based investment holding company
engaged in the manufacturing of gas struts and hydraulic vibration
dampers, has agreed to acquire General Aerospace GmbH (GAG),
a Germany-based company which designs and manufactures
aviation hydraulic and electro-mechanical technologies and
Clevers S.R.L., an Argentina-based manufacturer of gas springs and
dampers, from the respective founders, for an undisclosed
consideration.
04/01/
2019
BorgWarner
Inc.
(Thermostat
Business)
110.0 24.0 Arlington
Industries
Group Limited
BorgWarner
Inc.
Arlington Industries Group Limited, a portfolio company of Cartesian
Capital Group, LLC has agreed to acquire the Thermostat Business of
BorgWarner Inc.
Arlington Industries Group Limited is the UK-based company,
engaged in manufacturing of auto and aerospace parts and
equipments, headquartered in Manchester. Cartesian Capital
Group, LLC is the US-based private equity firm, headquartered in
New York, New York.
04/01/
2019
KEHREN GmbH n/a n/a Precision
Surfacing
Solutions
GmbH & Co.
KG
n/a Precision Surfacing Solutions GmbH & Co. KG (PSS), the Germany-
based supplier of high-precision machine tools and services for
lapping, polishing, grinding and honing, had acquired KEHREN
GmbH, the Germany-based provider of machine tools and systems
for high-precision grinding applications, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
50 Source: Mergermarket
Country Focus – Benelux
18/03/
2019
Trymax
Semiconducto
r Equipment BV
n/a n/a NIBC Bank N.V. n/a NIBC Bank N.V., the listed Netherlands-based company engaged in
providing banking and financing services, has acquired an
undisclosed minority stake in Trymax Semiconductor Equipment BV,
the Netherlands-based manufacturer and distributer of plasma-
based equipment, for an undisclosed consideration.
18/03/
2019
ams AG
(environmental
sensor solution
portfolio)
n/a 105.8 Wise Road
Capital LTD
ams AG ams AG, the listed the Austria-based supplier of high performance
sensor solutions and Wise Road Capital LTD, a China-based private
equity firm, have agreed to create a joint venture to advance the
development and sales of environmental, flow and pressure sensor
solutions for the global market. The joint venture is approximately
valued at around USD 120m.
15/03/
2019
Loomans
Group N.V.
49.7 75.5 IPL Plastics PLC n/a IPL Plastics PLC has agreed to acquire Loomans Group N.V. IPL
Plastics PLC, the listed Ireland-based company, headquartered in
Dublin, is a manufacturer of specialty packaging products used
primarily in the food, consumer, agricultural, logistics and
environmental end-market. Loomans Group N.V., a Belgium-based
company engaged in injection mold construction and injection
molding, headquartered in Lommel.
13/03/
2019
JOZ B.V. 18.0 n/a Rabo Private
Equity
n/a Rabo Private Equity, a Netherlands-based private equity firm through
its private equity fund, Rabo Participaties B.V., has acquired an
undisclosed majority stake in JOZ b.v., a Netherlands-based
manufacturer of high-quality manure robots and feed pusher robots
for dairy farmers, for an undisclosed consideration.
11/03/
2019
Belona B.V. n/a n/a Optimum
Group B.V.
Hans
Reedijk
(Private
Investor)
Optimum Group B.V., the Netherlands-based provider of self-
adhesive labels and flexible packaging solutions, has acquired
Belona B.V., the Netherlands-based producer of labels, from Hans
Reedijk, the Netherlands-based private investor, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
51 Source: Mergermarket
Country Focus – Benelux
05/03/
2019
SABCA Group
(43.57% Stake)
n/a 52.6 Dassault
Aviation SA
Fokker
Technologi
es Group
B.V.
Dassault Aviation SA has acquired 43.57% stake in SABCA. Dassault
Aviation SA, the listed France-based manufacturer of aircraft and
business jets, headquartered in Paris. SABCA Group, the listed
Belgium-based aircraft designer and manufacturer, headquartered
in Brussels. Fokker Technologies Group B.V., the Netherlands-based
company which designs, develops, and manufactures aircraft
components and systems for aircraft manufacturers, headquartered
in Papendrecht.
05/03/
2019
PartsPoint
Group B.V.
300.0 n/a Alliance
Automotive
Group
AutoBinck
Holding
N.V.
Alliance Automotive Group (AAG), the UK-based distributor of
automotive and commercial vehicle spare parts, and a subsidiary of
Genuine Parts Company, the listed US-based distributor of
automotive and industrial replacement parts, office products, and
electrical and electronic materials, has agreed to acquire PartsPoint
Group B.V., a Netherlands-based distributor of automotive
aftermarket parts and accessories, from AutoBinck Holding N.V., a
Netherlands-based provider of vehicle distribution, car retail, vehicle
leasing, fleet management, and financial and mobility services, for
an undisclosed consideration.
05/03/
2019
247TailorSteel
B.V. (60%
Stake)
n/a 100.0 Parcom
Capital
Management
B.V.
Carel van
Sorgen
(Private
Investor)
Parcom Capital Management B.V., the Netherlands-based private
equity firm, has agreed to acquire a 60% stake in 247TailorSteel B.V.,
the Netherlands-based steel cutting company, from Mr. Carel van
Sorgen, the Netherlands-based private individual, for an estimated
enterprise value of EUR 100m.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
52 Source: Mergermarket
Country Focus – Benelux
01/03/
2019
Mabo-Lifting
N.V.
17.0 n/a Sofindev n/a Sofindev, a Belgium-based private equity firm, via its fund IV, along
with the management of Mabo-Lifting N.V., a Belgium-based
distributor of space saving and efficiency improving forklifts, have
acquired an undisclosed significant stake in the company, for an
undisclosed consideration. The transaction will support the growth of
Mabo with the availability of fresh capital. Pursuant to the
transaction, the current managing directors of Mabo-Lifting N.V. will
remain significant owners and will continue to run the business. Mabo
reported revenues of approximately EUR 17m and it employs 40
people.
01/03/
2019
Delta Energie
B.V.
n/a n/a Vattenfall AB Delta
Comfort
B.V.
Vattenfall AB, a Sweden-based company engaged in production,
distribution and sale of electricity and heat, has acquired Delta
Energie B.V., the Netherland-based company engaged in supplying
electricity, from Delta Comfort B.V., the Netherlands-based telecom
infrastructure owner and operator, provider of multimedia services
and supplier of energy, and portfolio of EQT Partners AB, a Sweden-
based private equity firm, for an undisclosed consideration.
25/02/
2019
Schelde
Exotech B.V.
n/a n/a Verolme
Special
Equipment B.V.
n/a Verolme Special Equipment B.V, the Netherlands-based
manufacturer of heat exchangers and pressure vessels, has acquired
Schelde Exotech B.V., the Netherland-based manufacturer of
industrial equipment, for an undisclosed consideration.
21/02/
2019
Dutch Power
Company
39.3 n/a Alamo Group
Inc.
ABN AMRO
Participatie
s B.V.; Mr.
Peter
Mouthaan
(Private
Investor)
Alamo Group Inc., the US-based designer, manufacturer and
distributor of equipment for maintenance and agriculture, has
agreed to acquire Dutch Power Company, the Netherlands-based
company engaged in business of production, maintenance and
repair of machines for agricultural purposes, from ABN AMRO
Participaties B.V., the Netherlands-based is a private equity
investment arm of ABN AMRO Bank N.V. and Mr. Peter Mouthaan,
the Netherlands-based private individual, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
53 Source: Mergermarket
Country Focus – Benelux
15/02/
2019
LioniX
International
BV (44.42%
Stake)
n/a n/a Monsoon
Blockchain
Storage Inc
Magic
Micro Co.,
Ltd.
Monsoon Blockchain Storage Inc, the US-based company provides
blockchain-based cloud data storage optimization service, has
agreed to acquire a 44.42% stake in LioniX International BV, the
Netherland-based designer and producer of products based on
microsystem technology and microelectromechanical systems
(MOEMS), from Magic Micro Co., Ltd., the listed South Korea-based
company engaged in manufacturing IC semiconductors and LED
lead frames, for a consideration of KRW 16.94bn (USD 15.04m).
13/02/
2019
Cirex B.V. n/a n/a Signicast, LLC Nedvest
Capital
Beheer B.V.;
Convent
Capital
Manageme
nt B.V.
Signicast, LLC, the US-based manufacturer and supplier of precision
investment cast metal components, has agreed to acquire Cirex
B.V., the Netherlands based company engaged in producing steel
castings, from Nedvest Capital Beheer B.V., the Netherlands-based
family office and Convent Capital Management B.V., the
Netherlands-based private equity firm, for an undisclosed
consideration.
08/02/
2019
Frimex
Installatie B.V.
n/a n/a Value
Enhancement
Partners B.V.
Mentha
Capital B.V.
Value Enhancement Partners B.V., the Netherlands-based private
equity firm has acquired Frimex Installatie, the Netherlands-based
company from Mentha Capital B.V., the Netherlands-based private
equity firm, for an undisclosed consideration.
07/02/
2019
Bons & Evers
Holding BV.
n/a n/a Bencis Capital
Partners BV
n/a Bencis Capital Partners BV, the Netherlands-based private equity firm
has acquired an undisclosed stake in Bons & Evers Holding BV., the
Netherlands based company engaged in manufacturing of metal
products, for an undisclosed consideration.
06/02/
2019
Pack2pack
Group NV
n/a n/a Glud &
Marstrand A/S
Gilde Equity
Manageme
nt Benelux
B.V.
Glud & Marstrand A/S, a Denmark based manufacturer and supplier
of metal packaging solutions for food industry and a subsidary of
Envases Universales de Mexico S.A de C.V, a Mexico-based
manufacturer and seller of aluminum, steel, tin plate, PET,
polycarbonate, and polyethylene packaging products, has
acquired Pack2pack Group NV, the Netherlands-based provider of
metal packaging solutions, from Gilde Equity Management Benelux
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
54 Source: Mergermarket
Country Focus – Benelux
B.V., the Netherlands-based private equity firm, for an undisclosed
consideration.
04/02/
2019
Van Aerden
Group B.V.
n/a n/a KYOCERA
SENCO
Industrial Tools,
Inc.
Multrans SA
; Epiphron
NV
KYOCERA SENCO Industrial Tools, Inc., the US-based fastener and
tool manufacturer and a subsidiary of KYOCERA Corporation, a listed
Japan-based company engaged in manufacturing electronic
components and products for industrial, consumer and professional
uses, has acquired Van Aerden Group B.V., the Netherland-based
manufacturer of pneumatic tools and related products, for an
undisclosed consideration.
01/02/
2019
InterGen NV
(50% Stake)
n/a n/a Sev.en Energy
AG
Ontario
Teachers'
Pension
Plan
Se.ven Energy AG, the Liechtenstein-based energy company, has
agreed to acquire a 50% stake in InterGen NV, the UK-based power
generation firm, from Ontario Teachers' Pension Plan (OTPP), a
Canada-based pension fund engaged in managing equity, fixed
income and alternative investment portfolios, for an undisclosed
consideration.
30/01/
2019
Reftrade
Holding B.V.
5.4 n/a Petit Forestier
SA
Laurens
Louwers
(Private
Investor)
Petit Forestier SA, a France-based company that leases refrigerated
containers, vehicles and furniture, has acquired Reftrade Holding
B.V., the Netherlands-based cold storage and refrigerated container
rental company, from Laurens Louwers, the Netherlands-based
private investor, for an undisclosed consideration.
22/01/
2019
Eqraft B.V. n/a n/a MSP Onions n/a MSP Onions, a Netherlands-based company specialized in the
sorting and packaging of onions, has acquired Eqraft B.V., a
Netherlands-based company that designs, builds, and maintains
processing and packaging solutions for onions, potatoes, fruits,
vegetables, dry edibles and other commodities, for an undisclosed
consideration.
15/01/ YARD ENERGY n/a n/a Eurus Energy YARD Eurus Energy Holdings Corporation, a Japan-based company
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
55 Source: Mergermarket
Country Focus – Benelux
2019 Group B.V. (Six
operational
wind farms in
Netherlands)
Holdings
Corporation
ENERGY
Group B.V.
engaged in wind and solar power generation, has acquired six
operational wind farms in Netherlands, along with one wind farm
project currently under development (21MW), from YARD ENERGY
Group B.V., the Netherlands-based company engaged in wind farms
business, for an undisclosed consideration.
11/01/
2019
Poeth BV n/a n/a Private
Investors
n/a Mr. Hans Peeters, Mr. Loe Verheijen, Mr. Marc Peerlings and Mr. Paul
Roefs, the Netherlands-based private investors and the
management team of Poeth BV, has acquired Poeth BV, the
Netherlands-based company engaged in developing and
constructing machines and systems for powder and bulk-processing
industries, for an undisclosed consideration.
10/01/
2019
Honicel
Nederland B.V.
10.0 n/a Dirk Schut
(Private
Investor)
n/a Dirk Schut, the Netherland-based private investor, has acquired a
majority stake in Honicel Nederland B.V., the Netherlands-based
manufacturer of recycled paper-based packaging materials, for an
undisclosed consideration.
07/01/
2019
Techneco
Energiesystem
en BV
n/a n/a BDR Thermea
Group BV
n/a BDR Thermea Group B.V., a Netherlands-based smart thermal
comfort solutions provider, has acquired Netherlands-based
Techneco. The deal strengthens buyer's heat pump business;
Techneco will be part of BDR Thermea Group subsidiary Remeha. The
transaction is in line with BDR Thermea's strategy to facilitate the
energy transition and reduction of carbon emissions.
04/01/
2019
Cox Geelen
B.V.
n/a n/a Skoberne
GmbH
Bergschenh
oek Groep
B.V.
Skoberne GmbH, a Germany-based manufacturer of exhaust pipes
and shaft systems, has acquired Cox Geelen B.V., the Netherlands-
based manufacturer of air inlet and flue gas outlet systems, from
Bergschenhoek Groep B.V., the Netherlands-based holding
company that provides ventilation products, ground, road and
hydraulic engineering solutions, and produces and supplies water
management products, through its subsidiaries, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
56 Source: Mergermarket
Country Focus – Czech Republic
01/03
/2019
Automa CZ
s.r.o.
n/a n/a Automation
Investment,
s.r.o.
Pavel
Kouba
(Private
Investor);
Vladimir
Kohel
(Private
Investor);
Karel
Buchtele
(Private
Investor)
Automation Investment, s.r.o., a Czech Republic-based investment
holding company having interest in companies engaged in
manufacturing and distribution of industrial automation products,
has agreed to acquire Automa CZ s.r.o., a Czech Republic-based
company engaged in manufacturing and distribution of industrial
automatization products, from Mr. Pavel Kouba, Mr. Vladimir Kohel
and Mr. Karel Buchtele, the Czech Republic-based private
individuals, for an undisclosed consideration.
19/02
/2019
Ceskomoravsk
a distribuce,
s.r.o.
n/a n/a Undisclosed
bidder
UNICAPITAL
a.s.
An undisclosed bidder acquired Ceskomoravska distribuce, s.r.o.
(CS), a Czech Republic-based company engaged in electricity and
gas distribution from UNICAPITAL a.s., a Czech Republic-based
investment company, for an undisclosed consideration.
15/02
/2019
Wendell
Electronics, A.S
12.5 n/a BB Electronics
A/S
n/a BB Electronics A/S, a Denmark-based company that provides
specialist EMS services focused on design for manufacturing,
sourcing, production, assembly, testing, box build and system
integration, along with distribution and after-sales services, has
acquired Wendell Electronics, A.S, a Czech Republic-based
company engaged in electronics manufacturing services, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
57 Source: Mergermarket
Country Focus – Denmark
23/03
/2019
IRD Fuel Cells
A/S (66%
Stake)
n/a n/a Weifu High-
Technology
Group Co.,
Ltd.
Wuhan
Troowin
Power
System
Technology
Co., Ltd.
Weifu High-Technology Group Co., Ltd., a listed China-based
company engaged in manufacture of diesel and fuel injector
system products as well as automobile rear system products, has
agreed to acquire 66% stake in IRD Fuel Cells A/S, a Denmark-based
fuel cell component maker, from Wuhan Troowin Power System
Technology Co., Ltd., a China-based hydrogen fuel cell system
maker, for a consideration of EUR 7.26m.
22/03
/2019
Elmodan A/S n/a n/a Lakers Holding
AB
n/a Lakers Holding AB, a Norway-based provider of maintenance
service, development and technical consultancy for pumps,
pumping stations, electrical motors and related components and a
portfolio company of Summa Equity AB, a Sweden-based private
equity firm has acquired, Elmodan A/S, a Denmark-based distributer
of pumps, generators and power tools, for an undisclosed
consideration.
12/03
/2019
Haldor Topsoe
A/S (30%
Stake)
n/a 1,330.6 Temasek
Holdings Pte.
Ltd.
Haldor
Topsoe
Holding A/S
Temasek Holdings Pte. Ltd., a Singapore-based state owned
sovereign wealth fund and private equity firm has agreed to
acquire 30% stake in Haldor Topsoe A/S, a Denmark-based
company engaged in the research and development, process
design, engineering, production, and sale of catalysts, equipment
and spare parts from Haldor Topsoe Holding A/S, a Denmark-based
company owned by Topsoe family, for an undisclosed
consideration, valuing Haldor Topsoe at approximately USD 1.5bn.
06/03
/2019
Apollo
Brandmateriel
A / S
n/a n/a Lakers Holding
AB
n/a Lakers Holding AB, a Norway-based provider of maintenance
service, development and technical consultancy for pumps,
pumping stations, electrical motors and related components, and a
portfolio company of Summa Equity AB, a Sweden-based private
equity firm, has acquired Apollo Brandmateriel A / S, a Denmark-
based supplier of environmental equipment, fire safely and rescue
equipment, lighting, generators and other tools for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
58 Source: Mergermarket
Country Focus – Denmark
04/03
/2019
STENHOJ
HOLDING A/S
(75% Stake)
108.6 n/a Nexion S.p.A. n/a Nexion S.p.A., an Italy-based manufactures, designs, and installs
equipments for automobiles, has agreed to acquire a 75% stake in
Stenhoj Holding A/S, a Denmark-based supplier of products and
services for the automotive aftermarket and industrial market, for an
undisclosed consideration.
01/03
/2019
Cura VVS A/S 12.7 n/a Bravida
Danmark A/S
n/a Bravida Danmark A/S, a Denmark-based company that provides
installation and maintenance works for buildings, and a subsidiary of
Bravida Holding AB, a listed Sweden-based provider of electrical,
heating and plumbing, and heating, ventilation and air conditioning
solutions and other installation and services solutions, has acquired
Cura VVS A/S, a Denmark-based company providing installation
and maintenance services specialized in heating and plumbing
sector, for an undisclosed consideration.
25/02
/2019
DANMIL A/S 9.0 n/a AEB SpA n/a AEB SpA, an Italy-based company engaged in providing
biotechnology solutions for winemaking and a portfolio company of
Apax Partners SAS, a France-based private equity firm, has acquired
a majority stake in DANMIL A/S, a Denmark-based manufacturer of
filtration products for the Pharmaceutical, Chemical and Beverage
industries for an undisclosed consideration.
21/02
/2019
The Drilling
Company of
1972 A/S
1,246.8 4,139.9 A.P. Moller -
Maersk A/S
(Shareholders)
A.P. Moller -
Maersk A/S
A.P. Moller - Maersk A/S (APMM) has decided to spin off Maersk
Drilling Holding A/S into a separate listed company. A.P. Moller -
Maersk A/S is the listed Denmark-based conglomerate operating in
areas such as shipping, energy, logistics, retail and manufacturing,
headquartered in Copehagen. Maersk Drilling Holding A/S is a
Denmark-based provider of drilling services to oil companies for oil
and gas production, headquartered in Copenhagen.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
59 Source: Mergermarket
Country Focus – Denmark
20/02
/2019
KOATEK A / S
(45% Stake)
10.0 n/a Den Sociale
Kapitalfond
Management
ApS
Bo Olsen
(Private
Investor)
Den Sociale Kapitalfond Management ApS, a Denmark-based
venture capital firm has acquired a 45% stake in KOATEK A / S, a
Denmark-based producer and supplier of custom-made metal and
plastic components, from Bo Olsen, a Denmark-based private
individual for an undisclosed consideration.
11/02
/2019
Hundested
Propeller A/S
(60% Stake)
n/a n/a BSI A/S Mogens
Christensen
BSI A/S, a Denmark-based manufacturer and supplier of rod, wire,
fiber rigging products to the marine and architectural market, has
acquired a 60% stake in Hundested Propeller A/S, a Denmark-based
manufacturer of propulsion systems, from Mr. Mogens Christensen, a
Denmark-based private investor, for an undisclosed consideration.
04/02
/2019
Scanel
International
A/S (Wind
Business)
n/a n/a ProCon A/S Scanel
International
A/S
ProCon A/S, a Denmark-based provider of equipment for electrical
installation projects, has acquired wind activities of Scanel
International A/S, a Denmark-based supplier of integrated technical
systems, equipment, installations and services to the international
marine, oil/gas and wind industries, for an undisclosed
consideration.
21/01
/2019
Leapwork A/S n/a n/a e.ventures; DN
Capital Limited
n/a DN Capital Limited, the UK-based venture capital firm, and
e.ventures, the US-based venture capital firm, have acquired an
undisclosed stake in Leapwork A/S, a Denmark-based company
engaged in automation and robots, for a consideration of USD 30m.
15/01
/2019
Capres A/S n/a n/a KLA
Corporation
SEB Venture
Capital; A/S
Dansk
Erhvervsinves
tering
KLA Corporation, the listed US-based provider of yield management
and process control solutions for semiconductor manufacturing and
related industries, has acquired Capres A/S, a Denmark-based
company that develops micro and nanoscopic four-point probe-
based metrology tools for the read head and semiconductor
industry, from a group of sellers, for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
60 Source: Mergermarket
Country Focus – Denmark
14/01
/2019
Estron A/S n/a n/a Executive
Capital A/S
Lars Elgard
Nielsen
(Private
Investor);
Allan Sorrig
(Private
Investor)
Executive Capital A/S, the Denmark-based private equity firm, along
with the management of Estron A/S, the Denmark-based
manufacturer of audio components and hearing instruments, has
acquired the company in a management buyout transaction, from
Mr. Lars Elgard Nielsen and Mr. Allan Sorrig, a Denmark-based
private investors, for an undisclosed consideration.
10/01
/2019
Mita-Teknik A/S n/a n/a Andersen
family
Axcel
Managemen
t A/S
Mita-Teknik, the Danish supplier of control solutions for the wind
power industry, is to be sold by its PE owner, Axcel, to the company's
founding Andersen family. Axcel's sale decision comes due to Mita-
Teknik's low performance due to unfavourable market conditions. In
2012, The management of Mita-Teknik, acquired the company in a
management buyout transaction backed by Axcel, from the
Andersen family, for an enterprise value of DKK 800m (EUR 107.62m).
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
61 Source: Mergermarket
Country Focus – France
28/03
/2019
Amplitude
Systemes, S.A.
n/a 100.0 L-GAM
Advisers LLP
Auriga
Partners;
Merieux
Developpe
ment SAS;
Cathay
Capital
Private
Equity;
Bpifrance
SA
L-GAM Advisers LLP, the UK-based private equity firm, has agreed to
acquire Amplitude Systemes, S.A., a France-based manufacturer of
ultrafast lasers for scientific, medical and industrial applications, from
a group of private equity sellers, for an estimated consideration of
EUR 100m.
26/03
/2019
Mecanique
Aeronautique
Pyrereenne SA
40.0 n/a BT2i Group Jean-
Baptiste
Family
BT2i Group, a France-based manufacturer of machining, sheet metal
components, and complex mechanical assemblies, has acquired
Mecanique Aeronautique Pyrereenne SA (MAP), a France-based
aeronautics sub-contractor from the Jean-Baptiste family, for an
undisclosed consideration.
05/03
/2019
Rennard JC n/a n/a OMV System
France
n/a OMV System France, a France-based provider of precision
components used in exhaust turbochargers, has acquired Rennard
JC, a France-based company engaged in manufacturing
hydraulics, heavy weights equipment etc., for an undisclosed
consideration.
05/03
/2019
Legoueix SAS 20.0 n/a Rubix Group
International
Limited
n/a Rubix Group International Limited, the UK-based industrial services
group providing outsourced management of electronic equipment
related services as well as supplying bearings, power transmission
products and engineering and other related industrial services, has
acquired Legoueix SAS, a France-based supplier of industrial
products and services to customers in the water and energy sectors,
for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
62 Source: Mergermarket
Country Focus – France
04/03
/2019
Durisotti SAS 37.0 n/a Liberty House
Group
n/a Liberty House Group, the UK-based company engaged in mining
and manufacturing of steel and related products, and a subsidiary
of GFG Alliance Ltd, the UK-based international group of businesses ,
has acquired Durisotti SAS, a France-based manufacturer of
automobiles and light commercial vehicles, for an undisclosed
consideration.
01/03
/2019
Cartospe-
Packaging SAS
10.0 n/a Alliance
Entreprendre
SAS; CEHDF
Capital
n/a Alliance Entreprendre SAS, a France-based private equity firm and
CEHDF Capital, a France-based investment firm along with the
management of Cartospe-Packaging SAS, a France-based provider
of standard or customized corrugated cardboard packaging, in a
management buyout transaction, for an undisclosed consideration.
25/02
/2019
Garos SA n/a n/a Crouzet
Automatismes
SAS
n/a Crouzet Automatismes SAS, a France-based company engaged in
manufacturing and distributing automation control components to
industry, aerospace, and transport sectors in France and
internationally, has acquired Garos SA, a France-based company
that designs and manufactures measuring and controlling devices,
for an undisclosed consideration.
18/02
/2019
EDG-
Nettoyage
10.0 n/a Logista
Hometech
Axenergie
network
Logista Hometech, a France-based HVAC and plumbing
engineering firm has acquired EDG-Nettoyage, a France-based
company specialized in cleaning and multi-technical maintenance
in the fields of electricity, plumbing heating from Axenergie network,
a France-based company engaged in maintenance and repairing
of heating and air-conditioning equipment, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
63 Source: Mergermarket
Country Focus – France
13/02
/2019
Tecofi 30.0 n/a Garibaldi
Participations
SAS, SCR;
Bpifrance SA
n/a Bpifrance SA and Garibaldi Participations SAS, SCR, the France-
based venture capital and private equity firms along with the
management of Tecofi, the France-based company specializing in
the manufacture and marketing of valves and industrial valves, have
acquired the company, in a management buyout transaction, for
an undisclosed consideration.
12/02
/2019
Ateim SA 22.6 n/a Ekium Group n/a Ekium Group, a France-based company providing automatic control
systems, production control systems and engineering services for
industrial and tertiary sectors, and a subsidiary of Groupe SNEF S.A., a
France-based provider of electrical and HVAC engineering services,
has acquired Ateim SA., a France-based company that provides
design and construction services for equipment, plants, and
buildings; and consulting, engineering, and technical assistance
services, for an undisclosed consideration.
12/02
/2019
Bourasseau
Industrie SARL
9.0 n/a Developp
industrialzation
SCE - DIS
Jacques
Rivet
(Private
Investor)
Developp industrialzation SCE - DIS, the France-based investment
holding company, has acquired Bourasseau Industrie SARL, the
France-based manufacturer of industrial metal sheets, from Mr.
Jacques Rivet, Bourasseau Industrie's CEO holding 53% stake in the
company, other managers for an undisclosed consideration.
10/02
/2019
Chromalloy
France
13.1 n/a Revima SAS Sequa
Corporatio
n
Revima SAS, a France-based based aircraft maintenance firm and a
portfolio company of Argos Wityu, a France-based private equity
firm, has acquired Chromalloy France, a France-based facility that
specializes in engine parts repairs & special coatings from Sequa
Corporation, the US-based industrial company involved in
aerospace, automotive and other businesses, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
64 Source: Mergermarket
Country Focus – France
06/02
/2019
MIB Hydro n/a n/a Numalliance
SA
Florent
Chapuis
(Private
Investor)
Numalliance SA, a France-based CNC machines manufacturer, has
acquired MIB Hydro, a France-based designer and manufacturer of
hydraulic presses, from Florent Chapuis, a France-based private
individual, for an undisclosed consideration.
04/02
/2019
Incendie
Protection
Securite SAS
11.0 n/a Alliance
Entreprendre
SAS; Invest PME
SA; BDR Invest
SAS
Amundi
Private
Equity
Funds;
Etoile ID
A group of bidders along with the management of Incendie
Protection Securite SAS (IPS), a France-based company engaged in
providing fire extinguishers and maintenance services, have
acquired the company in a management buyout transaction, from
Etoile ID, a France-based private equity firm and Amundi Private
Equity Funds, a France-based private equity firm, for an undisclosed
consideration.
31/01
/2019
Romadec n/a n/a Drift.com, Inc. n/a Drift.com, Inc., the US-based provider of sales communication
platform that helps businesses generate more leads and close deals
faster using messaging, has acquired Romadec, a France-based
company engaged in manufacturing of precision tools and other
machining equipment's for various industries and provision of related
services, for an undisclosed consideration.
28/01
/2019
Groupe NetCo n/a n/a IK Investment
Partners
Limited;
Andera
Partners SCA
n/a IK Investment Partners Limited, the UK-based private equity firm,
along with existing investor and the management of Groupe NetCo,
a France-based company engaged in the design and manufacture
of conveyor systems and its maintenance, have acquired the
company, in a management buyout transaction, for an undisclosed
consideration.
28/01
/2019
Magelec
Magasins
Generaux De L
Electricite SA
n/a n/a Richardson
S.A.S.
n/a Richardson S.A.S, a France-based company engaged in distribution
of heating and air-conditioning equipment, renewable energies,
bathroom, plumbing tools, tiles and electrical appliances, has
acquired an undisclosed majority stake in Magelec, a France-based
electrical material wholesaler, distributor and retailer, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
65 Source: Mergermarket
Country Focus – France
25/01
/2019
SAEM SAS 12.2 n/a Engie Cofely n/a Engie Cofely, a France-based company engaged in providing
energy and environmental efficiency services, and a subsidiary of
ENGIE SA, a listed France-based company engaged in the supply of
natural gas and electricity, has acquired SAEM SAS, a France-based
provider of electrical and HVAC engineering services, for an
undisclosed consideration.
25/01
/2019
Compagnie
Europeenne
de
Cartonnage
n/a n/a Covepa-
Michels SA
n/a Covepa-Michels SA, the France-based company that manufactures
and markets paperboard card boxes, has acquired Compagnie
Europeenne de Cartonnage (CEC), France-based manufacturer of
printed cardboard packaging, for an undisclosed consideration.
24/01
/2019
Cotherm SA 41.0 33.3 Groupe
Atlantic
Siparex
Groupe ;
Carvest
SAS; Edify
S.A.; Family
of Mr. Jean-
Pierre
Serigny
Groupe Atlantic, a France-based manufacturer of electric water
heaters and heating appliances, has acquired Cotherm SA, a
France-based company engaged in designing and manufacturing
of thermal regulation components, from group of sellers, for a
consideration of EUR 33.3m.
17/01
/2019
Gestal group n/a 64.0 Fonds de
Consolidation
et
Developpeme
nt des
Entreprises
Alain Allaire
(Private
Investor);
Patrick
Allaire
(Private
Investor)
Fonds de Consolidation et Developpement des Entreprises (FCDE),
the France-based private equity firm, along with the management
of Gestal group, the France-based company engaged in provision
of industrial maintenance and installation services, has agreed to
acquire the company in a management buyout transaction, from
Alain Allaire and Patrick Allaire, the France-based private individuals,
for a consideration of EUR 64m.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
66 Source: Mergermarket
Country Focus – France
16/01
/2019
Revima SAS 280.0 n/a Ardian Argos Wityu Ardian, a France-based private equity and asset management firm,
along with the management of Revima SAS, has agreed to acquire
Revima SAS, a France-based based aircraft maintenance firm, from
Argos Wityu, a France-based private equity firm making equity, for
an undisclosed consideration.
15/01
/2019
ABO Wind AG
( 116.5 MW
capacity Eight
French
windfarms)
n/a n/a CEZ as ABO Wind
AG
CEZ as, a Czech Republic-based company engaged in the
production of electricity, has acquired 116.5 MW capacity Eight
French windfarms from ABO Wind AG, a Germany based developers
of wind energy projects and biomass utilization, for an undisclosed
consideration.
14/01
/2019
Nowak S.A.S. 20.0 n/a Siparex
Groupe ;
UNEXO SAS;
Bpifrance SA
Aalberts
Industries
N.V.
A group of investors along with the management of Nowak S.A.S.,
the France-based company that specializes in precision foundry,
have acquired the company in a management buyout transaction
from Aalberts Industries N.V., the listed Netherlands-based company
operating in the industrial services and flow control sectors, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
67 Source: Mergermarket
Country Focus – France
09/01
/2019
AErospace
Distribution
Service
46.0 39.9 SA Rafaut BNP Paribas
Developpe
ment SA,
SCR; ACE
Manageme
nt SA;
Bpifrance
SA; Maurice
Laffly
(Private
Investor);
Jean-
Christophe
Bertolo
(Private
Investor)
SA Rafaut, a France-based manufacturer of military and civilian
aerospace equipment and a portfolio company of Groupe HLD, a
Luxembourg-based private equity firm, has agreed to acquire
AErospace Distribution Service (AEds), a France-based manufactures
external fuel tanks for the aerospace industry, from a group of
vendors for a consideration of EUR 39.9m.
08/01
/2019
Saint Gobain
Silicon Carbide
activity
n/a n/a OpenGate
Capital LLC
Compagni
e de Saint-
Gobain SA
OpenGate Capital LLC, the US-based private equity firm, has agreed
to acquire Saint Gobain Silicon Carbide activity, a France-based
producer of silicon carbide for industry, from Compagnie de Saint-
Gobain SA, a France-based producer, processor and distributor of
construction and high-performance materials and packaging
products, for an undisclosed consideration.
07/01
/2019
Grillages
Vermigli SA
10.0 n/a Forlam
Industries
Catherine
Coeffic
(Private
Investor)
Forlam Industries, a France-based company engaged in rolling,
forging small and medium-sized automotive and aerospace parts
and producing fence, gates and grids, has acquired Grillages
Vermigli SA, a France-based manufacturer of fences and gates, from
Catherine Coeffic, a France-based private investor, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
68 Source: Mergermarket
Country Focus – France
04/01
/2019
Pichon S.A. n/a n/a Samson-Agro
AS
n/a Samson-Agro AS, a Denmark-based manufacturer of farming
machinery has acquired Pichon S.A., the France-based company
that manufactures and services a comprehensive range of
agricultural machinery and handling equipment, for an undisclosed
consideration.
02/01
/2019
ICKO
Apiculture SAS
26.0 n/a Cerea
Partenaire
n/a Cerea Partenaire, a France-based private equity firm, via its fund 2,
along with the management of ICKO Apiculture SAS, a France-
based family business specializing in the design, sourcing,
manufacturing and marketing of beekeeping supplies and
equipment for BtoB and BtoC clients, have acquired the company in
a management buyout transaction, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
69 Source: Megermarket
Country Focus – Italy
28/03
/2019
Trime SpA 50.0 n/a Wise Equity Sgr
Spa
n/a Wise Equity Sgr Spa, an Italy-based private equity firm, via its fund IV,
has agreed to acquire an undisclosed majority stake in Trime SpA, an
Italy-based manufacturer of lighting towers for construction,
entertainment and other sectors, for an undisclosed consideration.
19/03
/2019
Stelmi Italia
S.p.A.
n/a n/a ASO H&P Srl. Lebogest
S.p.A.
ASO H&P Srl., an Italy-based producer of steel hydraulic and
pneumatic components, has acquired Stelmi Italia S.p.A., an Italy-
based manufacturer of steel products, from Lebogest S.p.A., an Italy-
based company having interest in the manufacture of steel
products, for an undisclosed equity consideration.
14/03
/2019
Salgomma S.r.l. n/a n/a SATA S.p.A. n/a SATA S.p.A., an Italy-based manufacturer of precision machined
parts for the automotive industry, has acquired Salgomma Srl, an
Italy-based manufacturer of rubber parts, for an undisclosed
consideration.
14/03
/2019
Colcom Group
S.p.A
27.0 40.0 SIMONSWERK
GmbH
Wise Equity
Sgr Spa
SIMONSWERK GmbH, the Germany-based hinges systems
manufacturer has acquired Colcom Group S.p.A, an Italy-based
producer of fastenings and locks for glass windows and doors from
Wise SGR S.p.A., an Italy-based private equity firm for consideration
of EUR 40m.
13/03
/2019
Phoenix
Holding S.p.A
(65% Stake)
100.0 n/a Ambienta Sgr
SpA
Chequers
Capital
Ambienta Sgr SpA, an Italy-based private equity firm, has agreed to
acquire a 65% stake in Phoenix Holding S.p.A, an Italy-based
company engaged in producing aluminum extrusion dies, from
management of the company and Chequers Capital, a France-
based private equity firm, for a consideration of EUR 180m.
07/03
/2019
Elettroveneta
SpA
200.0 n/a Sonepar Italia
SpA
n/a Sonepar Italia SpA, an Italy-based company engaged in distribution
of electrical products, and a subsidiary of Sonepar S.A., the
company engaged in B-to-B distribution of electrical products and
related services, has agreed to acquire Elettroveneta SpA, an Italy-
based electrical and electronic goods distributor, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
70 Source: Megermarket
Country Focus – Italy
06/03
/2019
Calvi S.p.A
(26% Stake)
350.0 n/a DeA Capital
Alternative
Funds SGR
Chini family DeA Capital Alternative Funds SGR, an Italy-based private equity
and venture capital firm, has agreed to acquire a 26% stake in Calvi
S.p.A, an Italy-based company engaged in manufacturing of
special steel profiles, from Chini family, an Italy-based family, for an
undisclosed consideration.
05/03
/2019
Flexopack Srl
(90% Stake)
n/a n/a Comset SpA n/a Comset SpA, an Italy-based producer of packaging products for
kitchen usage, and a subsidiary of SPhere SA, a France-based
manufacturer of household packaging products involving
polyethylene as well as bioplastics, has acquired 90% stake in
Flexopack Srl, an Italy-based supplier of bags and films in
polyethylene and bioplastics for large retailers, for an undisclosed
consideration.
04/03
/2019
Trafimet Group
Spa
30.0 n/a Kemppi Oy Riello
Investimenti
SpA
Kemppi Oy, a Finland-based company manufacturing welding and
cutting products, has acquired Trafimet Group Spa, the Italy-based
company manufacturing welding and cutting products, from Riello
Investimenti SpA, the Italy-based private equity firm, for an
undisclosed consideration.
28/02
/2019
Industrial Box
S.r.l.
n/a n/a Unigrains SA;
Azimut Holding
SpA
Case
Investimenti
S.r.l.
Azimut Holding SpA, a listed Italy-based holding company having
interests in asset management; and Unigrains SA, a France-based
private equity firm, have acquired Industrial Box S.r.l., an Italy-based
company engaged in the production and marketing of high quality
packaging materialsfor food, make-up, nutraceutical and fashion
industries, from Case Investimenti S.r.l., an Italy-based investment
holding company, for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
71 Source: Megermarket
Country Focus – Italy
28/02
/2019
The Pack srl n/a n/a Unigrains SA;
Azimut Holding
SpA
Stefano
Pettenon
(Private
Investor);
Elisa Andrini
(Private
Investor)
Azimut Holding SpA, a listed Italy-based holding having interests in
asset management; and Unigrains SA, a France-based private equity
firm, have acquired The Pack srl, an Italy-based producer and
marketer of high quality packaging materials for wine, oil and
distillate industries, from Stefano Pettenon and Elisa Andrini, the Italy-
based private investors, for an undisclosed consideration.
28/02
/2019
OSAR S.r.l. n/a n/a Ethica Global
Investments
S.p.A.
Salvi family Ethica Global Investments S.p.A., an Italy-based venture capital arm
of Ethica Corporate Finance, an Italy-based provider of financial
advisory services, has acquired OSAR S.r.l., an Italy-based
automotive component producer, from Salvi family, an Italy-based
family, for an undisclosed consideration.
27/02
/2019
Spreafico
Automation
S.r.l (70% Stake)
16.5 9.6 IMA S.p.A. Spreafico
Family
IMA S.p.A., the listed Italy-based manufacturer of automatic
packaging machines for the tea, pharmaceutical and cosmetic
industries, has agreed to acquire 70% stake in Spreafico Automation,
an Italy-based coffee capsules producer, from Spreafico Family, an
Italy-based family, for an enterprise value of EUR 9.6m.
25/02
/2019
Comer
Industries SpA
365.8 n/a Gear 1 S.p.A. n/a Gear 1 S.p.A., a listed Italy-based special acquisition vehicle has
agreed to acquire Comer Industries SpA, an Italy-based company
that designs and produces engineering systems and mechatronic
solutions for power transmission applications, via a reverse merger
transaction, for an undisclosed consideration,
19/02
/2019
Alucart SpA n/a n/a Di Mauro
Officine
Grafiche S.p.A.
Taveggia
family
Di Mauro Officine Grafiche S.p.A., an Italy-based packaging
company, has acquired Alucart SpA, an Italy-based producer of
flexible packaging, from the Italy-based Taveggia family, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
72 Source: Megermarket
Country Focus – Italy
14/02
/2019
Total Solution
Interiors Srl
(60% Stake)
n/a 18.3 Somec S.p.A. Alvaro
Tagliabue
(Private
Investor);
Marco
Spaziani
(Private
Investor)
Somec S.p.A., a listed Italy-based company engaged in designing
and manufacturing glass envelopes for cruise ships and special
architectural projects, has agreed to acquire a 60% stake in Total
Solution Interiors Srl (TSI), an Italy-based designer, producer and
installer of ship and yacht interiors, from Alvaro Tagliabue and Marco
Spaziani, the Italy-based private investors, for a minimum enterprise
value of EUR 18.3m.
11/02
/2019
Celli S.p.A. 110.0 250.0 Ardian Consilium
SGR S.p.A.;
Celli family
Ardian, a France-based private equity and asset management firm
along with the management of Celli S.p.A., an Italy-based
manufacturer of dispensing equipment for pubs and bars, has
agreed to acquire the company from Consilium SGR S.p.A. an Italy-
based private equity firm and Celli family, an Italy-based family, for
an estimated consideration of EUR 250m.
04/02
/2019
Valli SpA n/a n/a Group De
Ceuster nv
n/a Group De Ceuster (GDC), the Belgium-based company that offers
development, production, and distribution of commercial and
consumer goods which includes fertilizers, animal feed, and
environmental care products, has acquired Valli SpA, the Italy-based
machinery manufacturer for the poultry sector, for an undisclosed
consideration.
04/02
/2019
FM Plastic Srl n/a n/a Poplast Srl n/a Poplast Srl, an Italy-based manufacturer of flexible packaging
products primarily for food, pharmaceutical, and industrial sectors,
the portfolio company of EOS Investment Management Limited, UK-
based investment and private equity firm, has acquired FM Plastic Srl,
an Italy-based company engaged in providing packaging solutions,
for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
73 Source: Megermarket
Country Focus – Italy
31/01
/2019
Gampack Srl 12.0 n/a Progressio SGR
SpA
n/a Progressio SGR S.p.A., an Italy-based private equity firm, along with
the external management of Gampack S.r.l., an Italy-based
machinery producer for the packaging industry, have acquired the
company, in a management buy-in transaction, for an undisclosed
consideration.
23/01
/2019
Hammer S.r.l. 20.0 n/a Kinshofer
GmbH
n/a Kinshofer GmbH, a Germany-based manufacturer of hydraulic lifting
equipment for cranes and a subsidiary of Lifco AB, a listed Sweden-
based manufacturer of dental products, machinery and tools,
sawmill equipment, contract manufacturing, interiors for vehicles
and environmental technology has acquired Hammer S.r.l., an Italy-
based company that designs, manufactures, and markets
construction equipment, for an undisclosed consideration.
21/01
/2019
Projecta
Engineering
S.R.L. (48%
Stake)
n/a n/a SITI - B&T Group
S.p.A
n/a SITI - B&T Group S.p.A, the listed Italy-based company engaged in
the manufacture of equipment and machinery for ceramics industry,
has acquired a 48% stake in Projecta Engineering S.R.L., an Italy-
based company engaged in manufacturing ceramic digital
machines, for a total consideration of EUR 4.70m.
15/01
/2019
SME S.p.A n/a n/a Dana
Incorporated
n/a Dana Incorporated, the listed US-based designer and manufacturer
of cars, automotive components and technologies, has acquired
SME S.p.A, an Italy-based company engaged in manufacturing of
electronic controllers and related products for application in battery
powered vehicles, for an undisclosed consideration.
11/01
/2019
Aream GmbH
(two
photovoltaic
power plants)
(78.5% Stake)
n/a 221.0 ERG S.p.A. Aream
GmbH
ERG S.p.A., a listed Italy-based company engaged in refining and
marketing, power and gas, and renewable energy, has agreed to
acquire 78.5% stakes in two photovoltaic power plants from Aream
GmbH, a Germany-based integrated asset manager for renewable
energy investments, for a consideration of EUR 75.36m.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
74 Source: Megermarket
Country Focus – Italy
10/01
/2019
SAIP SRL 10.0 n/a Siparex
Groupe
n/a Siparex Groupe, a France-based private equity firm, along with the
management of SAIP SRL, an Italy-based company engaged in the
manufacturing of hydropneumatic accumulators and pulsation
dampeners, have acquired the company, in a magement buyout
transaction, for an undisclosed consideration.
07/01
/2019
Endurance
Castings SpA
n/a 8.2 Endurance
Overseas Srl
n/a Endurance Overseas Srl, an Italy-based european Holding Company
that manages the European Companies of Endurance Technologies
Limited and a subsidiary company of Endurance Technologies
Limited, the listed India-based automotive component
manufacturing company has acquired Fonpresmetal Gap SpA, an
Italy-based manufacturer of of die-castings of aluminum, for a
consideration of EUR 8.16m.
07/01
/2019
S.M.R.E. S.p.A
(56.78% Stake)
n/a 133.7 SolarEdge
Technologies
Ltd.
Gabriele
Amati
(Private
investor);
Giampaolo
Giammariol
i (Private
investor);
MTI Holding
S.r.l
SolarEdge Technologies Ltd. has agreed to acquire 51% stake in
S.M.R.E. S.p.A from a group of sellers, due to which SolarEdge
Technologies Ltd will issue mandatory tender offer to acquire
remaining stake in the company. SolarEdge Technologies Ltd., the
US listed Israel-based company that designs, develops, and sells
direct current (DC) optimized inverter systems for solar photovoltaic
(PV) installations, is headquartered in Herzliya. S.M.R.E. S.p.A, the
listed Italy-based company that designs, develops, manufactures
and supplies industrial machines, is headquartered in Umbertide.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
75 Source: Megermarket
Country Focus – Norway
19/03/
2019
PetroNor E&P
Ltd
88.2 90.3 African
Petroleum
Corporation
Limited
NOR Energy
AS; Petromal
Sole
Proprietorship
LLC
African Petroleum Corporation Limited agreed to acquire Petronor
E&P from Petromal Sole Proprietorship LLC and NOR Energy AS.
African Petroleum Corporation Limited (APCL), the listed UK-based
company, headquartered in London, is engaged in oil and gas
exploration. Petronor E&P, a Norway-based company,
headquartered in Oslo, is engaged in upstream exploration and
production of oil and gas.
25/02/
2019
Nordic Steel AS
(50% Stake)
14.2 n/a Ogreid
Eiendom AS
n/a Ogreid Eiendom AS, a Norway-based company engaged in real
estate business, through its holding company, Verket Investering,
has agreed to acquire a 50% stake in Nordic Steel AS, a Norway-
based company engaged in metal processing and welding
business, for an undisclosed consideration.
08/02/
2019
Bns Miljo AS n/a n/a Enviropac AS n/a Enviropac AS, a Norway-based company engaged in providing
waste management services and a subsidiary of San Sac Group AB,
Sweden-based company engaged in providing solutions for sorting
and recycling waste materials, has acquired Bns Miljo AS, a Norway-
based wholesaler of machinery and equipment for transport and
other services, for an undisclosed consideration.
06/02/
2019
Grenland
Energy AS
n/a n/a Corvus Energy
Holding AS
n/a Corvus Energy Holding AS, a Norway-based manufacturer of lithium
ion energy storage systems and services for the maritime industry,
has agreed to acquire Grenland Energy AS, the Norway-based
developer and manufacturer of lightweight lithium-ion batteries for
the maritime, offshore and subsea industry.
24/01/
2019
Huurre Norway
AS
35.6 n/a Svalinn AS Huurre Group
OY
Svalinn AS, a Norway-based company having interest in the
business of manufacturing of cold storeshas acquired Huurre
Norway AS, a Norway-based producer and supplier of cold stores
from the Huurre Group OY, a Finland-based provider of refrigeration
solutions and maintenance services for retail and industrial sectors
for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
76 Source: Megermarket
Country Focus – Norway
15/01/
2019
Kongsberg
Evotec AS
n/a n/a Rome AS Kongsberg
Gruppen ASA
Rome AS, a Norway-based investment company , has agreed to
acquire Kongsberg Evotec AS, a Norway-based company
providing marine supply solutions, from Kongsberg Gruppen ASA,
the listed Norway-based company engaged in development and
maintenance of weapons control and fire control systems used by
the air force, for an undisclosed consideration.
14/01/
2019
OneCo AS 161.7 n/a Katalysator AS n/a Katalysator AS, a Norway-based family owned principal investment
firm and parent company of Moller Gruppen, a Norway-based
company engaged in the import, retail sale, servicing, and
financing of cars, has acquired an undisclosed majority stake in
OneCo AS, a Norway-based provider of products and services in
automation, instrumentation and electrical industries, for an
undisclosed consideration.
11/01/
2019
TKS Heis AS 15.7 n/a Aritco Lift AB T Kverneland &
Sonner AS
Aritco Lift AB, a Sweden-based designer and manufacturer of
vertical platform lifts, and a subsidiary of Investment AB Latour, a
Sweden-based investment firm, has agreed to acquire TKS Heis AS,
a Norway-based company engaged in manufacturing elevators
and lifting solutions, from T Kverneland & Sonner AS, a Norway-
based company engaged in manufacturing of hoisting and lifting
machinery and equipment, for an undisclosed consideration.
02/01/
2019
Tools Lovold AS 9.6 n/a Momentum
Group AB
n/a Sweden-based Momentum Group has acquired all of the shares of
Norway-based TOOLS Løvold AS.The acquisition will allow Tools to
strengthen its position in the Norwegian industry. The acquisition will
have a positive impact on the earnings per share of Momentum
group.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
77 Source: Megermarket
Country Focus – Poland
28/03/
2019
Drukarnia
EMBE PRESS
sp.j. (80%
Stake)
16.4 n/a Innova Capital
Sp z o.o.
n/a Innova Capital Sp z o.o., via its Innova/6 fund, a Poland-based
private equity firm, has signed an agreement to acquire 80% stake in
Drukarnia EMBE PRESS sp.j., a Poland-based manufacturer and
supplier of labels and packaging for the beverage and food
industry, for an undisclosed consideration.
22/03/
2019
Fablok SA n/a n/a Martech-Plus
Marcin Mistarz
Sp. J
n/a Martech-Plus Marcin Mistarz Sp. J, a Poland-based company
operating in the energy, mining and armament industries,
manufacturing components for railway and producing mining and
surface diesel locomotives, which is owned by Marcin Mistarz, a
Poland based private investor, has acquired Fablok SA, a Poland-
based manufacturer of steam and diesel locomotives for passenger,
express, and freight trains, for an undisclosed consideration, via
insolvency.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
78 Source: Megermarket
Country Focus – Sweden
27/03/
2019
Scandiflex Pac
AB
20.0 n/a Schur Flexibles
Holding
GesmbH
Tilgmann
Group
Schur Flexibles Holding GesmbH, an Austria-based company that
produces and distributes flexible packaging solutions, has acquired
Scandiflex Pac AB, a Sweden-based company engaged in
designing and manufacturing printed flexible packaging laminates
for the food industry, from Tilgmann Group, a Finland-based
company engaged in manufacturing of food industry packaging
materials, for an undisclosed consideration.
25/03/
2019
Linjemontage
AB (85%
Stake)
65.5 21.2 Kalpataru
Power
Transmission
Limited
n/a Kalpataru Power Transmission Limited (KPTL), the listed India-based
company engaged in the designing, testing, fabrication, erection
and construction of transmission lines and substation structures and
also in development of infrastructure projects , has agreed to
acquire 85% stake in Linjemontage AB, a Sweden-based company
engaged in construction of pipeline network for electricity network
companies, Assembly contracts, construction of substations and their
maintenance services, for a consideration of around USD 20.4m.
21/03/
2019
BilX Nordic AB n/a n/a Rameder
Anhangerkupp
lungen und
Autoteile
GmbH & Co.
KG
Christoff
investment
AB
Rameder Anhangerkupplungen und Autoteile GmbH & Co. KG, a
Germany-based online retailer of tow-bars, automotive carrier
systems and related accessories, and a portfolio company of FSN
Capital Partners AS, a Norway-based private equity firm, has
acquired a majority stake in BilX Nordic AB, a Sweden-based
company engaged in producing tow hooks for cars, from Christoff
investment AB, a Sweden-based company engaged in retailing of
spare parts and accessories for motor vehicles, for an undisclosed
consideration.
21/03/
2019
Thurne Teknik
AB
9.9 n/a Addtech AB n/a Addtech AB, the listed Sweden-based company that develops and
sells components and systems to industrial companies and service
industry, has agreed to acquire Thurne Teknik AB, a Sweden-based
supplier of process equipment and systems to the process industry,
for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
79 Source: Megermarket
Country Focus – Sweden
19/03/
2019
Dalek Las &
Larm AB;
Sotenas
Lasservice AB
n/a n/a Prosero
Security AB
n/a Prosero Security AB, the Sweden-based company engaged in
design, installation and service of locks, pass systems, camera
surveillance cctv, fire and burglary alarms through its subsidiaries,
and a portfolio company of Valedo Partners, the Sweden-based
private equity firm, has acquired Dalek Las & Larm AB and Sotenas
Lasservice AB, the Sweden-based security equipments suppliers, for
an undisclosed consideration.
19/03/
2019
BAHAB Vent &
Plat AB
13.8 n/a Ahlsell AB n/a Ahlsell AB, a Sweden-based industrial wholesaler of plumbing,
heating, electrical, refrigeration and do-it-yourself products, has
agreed to acquire BAHAB Vent & Plat AB, a Sweden-based
wholesaler of sheet metal and ventilators.
12/03/
2019
Onninen Oy
(HEPAC
business)
70.0 n/a Solar A/S Onninen
Oy
Solar A/S, a listed Denmark-based company engaged in distribution
of electrical products and provision of related services, has agreed
to acquire the HEPAC business of Onninen Oy, a Finland-based
company that provides materials services for contractors, industries,
public organizations, and technical products retailers, for an
undisclosed consideration.
04/03/
2019
Albin
Components
AB
22.7 n/a Storskogen
Industrier AB
n/a Storskogen Industrier AB, a Sweden-based investment firm, has
acquired a majority stake in Albin Components AB, a Sweden-based
manufacturer of gear wheel components, for an undisclosed
consideration.
27/02/
2019
Varmesvets
Entreprenad
AB
9.2 n/a Assemblin AB n/a Assemblin AB, a Sweden-based company engaged in providing
electric engineering, heating and plumbing, and ventilation
installation services, has acquired Varmesvets Entreprenad AB, a
Sweden-based company engaged in providing services in heating
and sanitation and installation of pipes, for an undisclosed
consideration.
The deal is in line with Assemblin’s strategy to expand their installation
services segment.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
80 Source: Megermarket
Country Focus – Sweden
14/02/
2019
Rotage AB 26.0 n/a Weland AB n/a Weland AB, a Sweden-based manufacturer and supplier of gratings,
spiral stairs, straight stairs, railings, handicap ramps, walkways, has
acquired Rotage AB, a Sweden-based manufacturer of iron and
steel products, for an undisclosed consideration.
29/01/
2019
Koenigsegg
Automotive AB
(20% Stake)
n/a n/a National
Electric
Vehicle
Sweden AB
n/a National Electric Vehicle Sweden AB, a Sweden-based company
engaged in manufacturing electric automobiles, and a subsidiary of
Evergrande Health Industry Group Limited, the listed China-based
company engaged in media and healthcare businesses, has agreed
to acquire a 20% stake in Koenigsegg Automotive AB, a Sweden-
based manufacturer of luxury sports car, for a consideration of EUR
150m.
24/01/
2019
Processing AB n/a n/a EnviroChemie
GmbH
n/a EnviroChemie GmbH, a Germany-based company engaged in
providing technologies for the treatment of water and wastewater,
water recycling and resource recovery, has acquired Processing AB,
a Sweden-based company that supplies water treatment products
and equipments, for an undisclosed consideration.
15/01/
2019
VindIn AB n/a n/a NTR Plc n/a NTR Plc, the listed Ireland-based company engaged in developing
and operating a portfolio of wind projects, has acquired VindIn AB, a
Sweden-based company engaged in developing and operating
wind power plants, for undisclosed consideration.
15/01/
2019
National
Electric
Vehicle
Sweden AB
(51% Stake)
n/a n/a Evergrande
Health Industry
Group Limited
Mr. Howard
Wong
(Private
Investor)
Evergrande Health Industry Group Limited has acquired a 51% stake
in National Electric Vehicle Sweden AB from Mr. Howard Wong.
Evergrande Health Industry Group Limited (EHIG), a listed China-
based company, headquartered in Guangzhou, is engaged in
media and healthcare businesses. National Electric Vehicle Sweden
AB (NEVS), a Sweden-based company engaged in manufacturing
electric automobiles, is headquartered in Trollhattan. Mr. Howard
Wong is a China-based private investor.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
81 Source: Megermarket
Country Focus – Sweden
14/01/
2019
Eton Systems
AB
n/a n/a Karnell Eton
Innovation
AB
Karnell, the Sweden-based private equity firm, has acquired an
undisclosed majority stake in, Eton Systems AB, the Sweden-based
company engaged in developing, manufacturing, and marketing
overhead conveyor systems, from Eton Innovation AB, the Sweden-
based company engaged in the management and operations of
Eton Systems AB, for an undisclosed consideration.
11/01/
2019
Francks
Kylindustri
Sweden AB
44.2 n/a Segulah
Advisor AB
Franck
family; Per
Hannius
(Private
Investor)
Segulah Advisor AB, the Sweden-based private equity firm, has
agreed to acquire Francks Kylindustri AB, a Sweden-based provider
of industrial refrigeration systems, from Franck family and Per Hannius,
a Sweden-based private individual, for an undisclosed consideration.
08/01/
2019
Creovent AB;
Thorszelius
Ventilation &
Service AB
n/a n/a airteam A/S n/a Airteam A/S, a Denmark-based provider of ventilation solutions, has
agreed to acquire Creovent AB, Sweden-based company providing
functional solutions for Climate and Ventilation and Thorszelius
Ventilation & Service AB, Sweden-based company providing
ventilation services, for an undisclosed consideration.
07/01/
2019
Wiwood AB 14.8 n/a Peter
Gyllenhammar
AB
Hamalaine
n family
Peter Gyllenhammar AB (PGAB), a Sweden-based privately-owned
investment company, has acquired Wiwood AB, a Sweden-based
company that imports, manufactures and distributes wood products,
from Hamalainen family, a Sweden-based business family, for an
undisclosed consideration.
03/01/
2019
Indexator
Rotator
Systems AB
29.6 n/a Lifco AB n/a Lifco AB, the listed Sweden-based manufacturer of dental products,
machinery and tools, sawmill equipment, contract manufacturing,
interiors for vehicles and environmental technology, has agreed to
acquire Indexator Rotator Systems AB, a Sweden-based company
engaged in manufacturing of hydraulic rotators, for an undisclosed
consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
82 Source: Megermarket
Country Focus – UK
28/03/
2019
Midland Steel
Traders Ltd.
12.6 n/a USCO SpA Mr. K P
Whitehall
(Private
Investor);
Mr. John P
Whitehall
(Private
Investor)
Midland Steel Traders, a UK-based construction machinery parts
supplier, has been acquired by USCO, an Italian manufacturer and
distributor of undercarriage, ground engaging tools and repair parts
for construction and earthmoving machines, according to an
announcement.
21/03/
2019
Oxford
Photovoltaics
Limited (18.4%
Stake)
n/a n/a Meyer Burger
Technology
AG
n/a Meyer Burger Technology AG, a listed Switzerland-based producer of
machines that slice and process materials for the semiconductor,
photovoltaic, optical and ceramic industries, has acquired an 18.4%
stake in Oxford Photovoltaics Limited, the UK-based developer of
solid-state dye sensitized solar cells, for an undisclosed consideration.
20/03/
2019
Lifterz Limited 17.4 25.1 Speedy Hire
Plc
n/a Speedy Hire Plc, the listed UK-based company providing equipment
hire services to UK contractors and builders, industry, utilities and the
public sector, has acquired Lifterz Limited, the UK-based company
that offers aerial and access platforms on hire, for a cash
consideration of GBP 9.6m.
18/03/
2019
Invertec
Interiors Ltd;
Inverter
Technology
(Asia) Sdn.
Bhd.
16.7 n/a Teknoware Oy The Ellison
Company,
Inc.
Teknoware Oy, the Finland-based company develops,
manufactures, and supplies interior lighting systems for commercial
vehicles, and emergency lighting systems for public premises and
ships, has acquired Invertec Interiors Ltd, the England-based
company designs and manufactures lighting and interior systems for
public transport and commercial vehicles and Inverter Technology
(Asia) Sdn. Bhd., the Malaysia-based company engaged in
manufacturing of low voltage lighting products and interior systems
for the Bus, Train, and Marine & markets
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
83 Source: Megermarket
Country Focus – UK
08/03/
2019
RPC Group Plc 4,270.4 5,214.9 Berry Plastics
Group, Inc.
n/a Berry Global Group, Inc. [NYSE:BERY] ("Berry"), a US based and listed
manufacturer and marketer of plastic packaging products,
announced that is considering a possible offer in cash for RPC Group
Plc ("RPC") [LON:RPC], a UK based and listed design and engineering
company of plastic products for both packaging and selected non-
packaging markets.
07/03/
2019
Linkx Systems
Limited
n/a 5.8 WestRock
Company
n/a WestRock Company, the US-based manufacturer of packaging
products, recycled paperboard, containerboard, bleached
paperboard and merchandising displays, has acquired Linkx Systems
Limited, the UK-based company that design and manufacture
packaging machines and integrated smart factory automation
systems, for a total consideration of GBP 5m.
06/03/
2019
V.N.A. Trucks
Limited
n/a n/a Management
Vehicle
n/a The management of V.N.A. Trucks Limited, the UK-based company
manufacturing fork lift truck, has acquired an undisclosed majority
stake in the company, for an undisclosed consideration.
05/03/
2019
Morgan Motor
Company
Limited
37.6 n/a InvestIndustrial n/a InvestIndustrial, the UK-based private equity firm, through its fund V
along with the management and employees of Morgan Motor
Company Limited, the UK-based manufacturer of sports cars, have
acquired an undisclosed majority stake in the company, for an
undisclosed consideration.
28/02/
2019
VTL Precision
(Bradley)
Limited (i4 and
i6 cam carrier
business)
n/a n/a Undisclosed
bidder
VTL
Precision
(Bradley)
Limited
An undisclosed bidder has acquired the i4 and i6 cam carrier
business of VTL Precision (Bradley) Limited, the UK-based company
engaged in manufacture of high specification components for
passenger vehicle and commercial vehicle powertrain sector, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
84 Source: Megermarket
Country Focus – UK
28/02/
2019
Bombardier
Transportation
(Rolling Stock)
UK Ltd.
40.1 12.7 PKC Group Oyj Bombardier
Inc.
PKC Group Oyj, a Finland-based company engaged in design,
manufacturing and integration of electrical distribution systems,wires
and cables, and electrical cabinets, power packs and electrical
distribution systems for rolling stock manufacturers, and a subsdiairy
of Motherson Sumi Systems [NSE:MOTHERSUMI], an India-based
manufacturer of wiring harnesses for rolling stock, has agreed to
acquire Bombardier's [TSE:BBD.B] rolling stock electrical component
and systems business in the UK.
28/02/
2019
Hydreco
Hydraulics Ltd
28.5 n/a Duplomatic MS
SpA
Clyde
Blowers
Capital
Duplomatic MS SpA, the Italy-based company engaged in
designing, producing and installing hydraulic components and
systems and a portfolio company of Alcedo SGR S.p.A, the Italy-
based private equity firm, has acquired Hydreco Hydraulics Ltd, the
UK-based company engaged in design, manufacturing and supply
of hydraulic pumps, motors, valves & controls, cylinders and power
take off units, from Clyde Blowers Capital, the UK-based private
equity, for an undisclosed consideration.
28/02/
2019
Lighting
Consultants Ltd
n/a n/a SRG Global n/a SRG Global, a Troy, Michigan-based coatings manufacturer, made
an investment in The Lighting Consultants, a UK-based automotive
lighting maker. No financial terms were disclosed.
25/02/
2019
Tracker
Network (UK)
Ltd
n/a 11.5 CalAmp
Corporation
Tantalum
Corporatio
n
CalAmp Corporation, the listed US-based provider of direct
broadcast satellite technology, wireless networks, software
application development, embedded computing and enterprise
mobility solution has acquired Tracker Network (UK) Ltd, the UK-
based company engaged in providing vehicle tracking, traffic
information and telematics solutions from Tantalum Corporation, the
UK-based leading provider of connected products and services to
commercial fleets, insurers and OEMs for a cash consideration of
approximately USD 13m.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
85 Source: Megermarket
Country Focus – UK
25/02/
2019
The Weir
Group Plc
(Flow Control
division); Weir
International
Co., Ltd.
n/a 316.9 First Reserve The Weir
Group Plc
First Reserve has agreed to acquire Flow Control Division of The Weir
Group Plc in an auction process. First Reserve is the US-based private
equity firm, headquartered in Stamford, Connecticut. Flow Control
Division (Weir Flow Control) (WFC) is the UK-based provider of
designing, manufacturing and aftermarket services of engineered
valves and pumps. First Reserve will acquire Weir flow for a cash
consideration of GBP 275m
22/02/
2019
ATG Access
Ltd
19.9 25.9 Hill & Smith
Holdings Plc
LDC
(Managers)
Limited
Hill & Smith Holdings Plc, a listed UK-based company engaged in the
manufacture and supply of infrastructure products, galvanizing
services and building and construction products, has acquired ATG
Access Ltd, a UK-based engineering company engaged in the
manufacturing of access control systems, vehicle barrier systems and
crash rated bollards, from LDC (Managers) Limited, a UK-based
private equity firm, for a cash consideration of GBP 22.5m on a debt
and cash free basis.
21/02/
2019
Beckton
Energy Limited
n/a n/a Arjun
Infrastructure
Partners
iCON
Infrastructur
e LLP;
Melquart
Limited
Arjun Infrastructure Partners (AIP), the UK-based infrastructure asset
management company, has acquired Beckton Energy Limited, the
UK-based company engaged in operating of bio-liquids fired
combined heat and power plant (CHP), from iCON Infrastructure
Partners II, the UK-based fund of iCON Infrastructure LLP, the UK-
based private equity firm, and Melquart Limited, the UK-based
company engaged in providing investment management and
advisory services, for an undisclosed consideration.
19/02/
2019
Miriad
Products
Limited
25.6 n/a Duke Royalty
Limited
n/a Duke Royalty Limited, the UK-based provider of alternative capital
solutions, along with an external management team and the internal
management of Miriad Products Limited, the UK-based distributor of
parts and components for the caravan and motorhome industry, has
acquired the company for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
86 Source: Megermarket
Country Focus – UK
14/02/
2019
Ovo Energy
Limited (20%
Stake)
n/a n/a Mitsubishi
Corporation
n/a Mitsubishi Corporation, a listed Japan-based conglomerate, has
acquired 20% stake in Ovo Energy Limited, the UK-based domestic
energy supplier, for an estimated consideration of GBP 216m.
12/02/
2019
Roltech
Limited
n/a n/a Duo (Europe)
plc
n/a Duo (Europe) plc, the UK-based provider of processing solutions for
quarrying, aggregate, recycling & handling Industries, has acquired
Roltech Mechanical Limited, the UK-based company designing,
manufacturing and installing conveyors, bins and machines for the
quarrying industry, for an undisclosed consideration.
08/02/
2019
KRG Specialist
Engineering
Services
n/a n/a Gil Investments Proserv
Group Inc.
Gil Investments, the UK-based private equity firm has acquired KRG
Industries Limited, the UK-based company that manufactures and
delivers precision engineered components and assemblies to oil and
gas, aerospace, pump manufacture markets, defense, rail, and food
sectors from Proserv Group Inc., the UK-based company that
provides production and drilling equipment services for energy
industry, for an undisclosed consideration.
06/02/
2019
United
Kingdom Oil
Pipeline
(11.15% Stake);
Northampton
Terminal;
Kingsbury Oil
Terminal (45%
Stake)
n/a n/a Essar Oil (UK)
Limited
BP p.l.c. Essar Oil (UK) Limited, the UK-based oil and gas exploration and
production company, has agreed to acquire the Northampton
Terminal, the UK-based oil storage terminal, a 45% stake in Kingsbury
Oil Terminal, the UK-based oil storage terminal, and an 11.15% stake
in the United Kingdom Oil Pipeline (UKOP), the UK-based oil products
pipeline network, from BP Plc, the listed UK-based oil company, for
an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
87 Source: Megermarket
Country Focus – UK
01/02/
2019
Bankside
Patterson
n/a n/a AL-KO Vehicle
Technology
Christopher
Adams(Priv
ate
Investor);
David
Wineberg
(Private
Investor)
AL-KO Vehicle Technology, a Germany-based designer and
manufacturer of trailer axles, trailer and caravan components,
chassis and motorized chassis and a subsidiary of DexKo Global, Inc.,
the US-based company engaged in designing and manufacturing of
trailer axles and running gear components, has agreed to acquire
Bankside Patterson, the UK-based manufacturer and supplier of steel
frames to the holiday home and modular building sectors, from Mr.
Christopher Adams and Mr. David Wineberg, UK-based private
investors, for an undisclosed consideration.
01/02/
2019
SSE Plc
(Dunmaglass
wind farm)
(14.4% Stake);
SSE Plc
(Stronelairg
wind farm)
(14.4% Stake)
n/a n/a Undisclosed
bidder
SSE Plc An undisclosed UK-based pension fund whose investment is
managed by Greencoat Capital, has agreed to acquire 14.4% stake
in Dunmaglass windfarms and Stronelairg wind farm from SSE Plc the
listed UK-based company engaged in the generation, transmission,
distribution, and supply of electricity, gas and energy trading for a
total consideration of GBP 183m.
01/02/
2019
SSE Plc
(Dunmaglass
wind farm)
(35.5% Stake);
SSE Plc
(Stronelairg
wind farm)
(35.5% Stake)
n/a n/a Greencoat UK
Wind Plc
SSE Plc Greencoat UK Wind Plc, the listed UK-based closed-ended
investment company investing in wind farm projects, has agreed to
acquire 35.5% stake in Dunmaglass windfarms and Stronelairg wind
farm from SSE Plc, the listed UK-based company engaged in the
generation, transmission, distribution, and supply of electricity, gas
and energy trading for a total consideration of GBP 452m, including
cash and working capital.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
88 Source: Megermarket
Country Focus – UK
31/01/
2019
Dust Control
Systems
Limited
n/a 7.5 Filtermist
International
Limited
Chris
Oldfield
(Private
Investor);
Phillip
Oldfield
(Private
Investor)
Filtermist International Limited, the UK based company producing oil
mist filters, fume and dust extraction equipment, and a subsidiary of
Absolent Group AB, a listed Sweden-based company engaged in
supplying and manufacturing of air processing and ventilation filter
products, has acquired Dust Control Systems Limited (DCS), the UK-
based manufacturer of dust and fume extraction systems, from Phillip
Oilfield and Chris Oldfield, the UK-based private investors, for a
consideration of GBP 6.6m.
30/01/
2019
Ring
Automotive
Limited
n/a n/a Osram GmbH Rubicon
Partners
Osram GmbH, the listed Germany-based company engaged in the
field of lighting fixtures, has agreed to acquire Ring Automotive
Limited, the UK-based lighting and auto electrical supplier to the
aftermarket and vehicle conversion sector, from Rubicon Partners,
the UK-based private equity, for an undisclosed consideration.
27/01/
2019
SK AeroSafety
Group
n/a n/a Levine
Leichtman
Capital
Partners, Inc.
SK
FireSafety
Group B.V.
SK AeroSafety, a UK-based provider of fire safety services for the
aeronautic sector, has been sold by its parent company,
Netherlands-headquartered SK Fire Safety Group BV, a portfolio
company of PE firm Apax France, to Levine Leichtman Capital
Partners (LLCP).
24/01/
2019
RedSpeed
International
Ltd.
6.2 12.2 Sdiptech AB n/a Sdiptech AB, the listed Sweden-based company providing deeply
niched products and services within modernization, new installation
and, service and maintenance, in areas such as hospitals, traffic
systems, water supply systems, and data centers, has acquired
RedSpeed International Ltd., the UK-based company that
researches, develops, manufactures, installs, and maintains digital
enforcement cameras for the traffic enforcement market, for a
consideration of GBP 10.6m.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
89 Source: Megermarket
Country Focus – UK
23/01/
2019
RPC Group Plc 4,270.4 5,084.8 Apollo Global
Management,
LLC
n/a Apollo Global Management ("Apollo") [NYSE:APO], the US based
private equity firm, has made a recommended offer to acquire RPC
Group Plc ("RPC") [LON:RPC], a UK based and listed design and
engineering company of plastic products for both packaging and
selected non-packaging markets.
21/01/
2019
BAE Systems
(combat
vehicles
business) (55%
Stake)
n/a n/a Rheinmetall
AG
BAE
Systems Plc
Rheinmetall AG has agreed to acquire 55% stake combat vehicles
business of BAE Systems Plc. Rheinmetall AG is the a Germany-based
producer of automotive components and defense equipment,
headquartered in Duesseldorf. BAE Systems Plc. is the listed UK-based
provider of support and services in defense and security,
headquartered in Guildford.
21/01/
2019
Trinity Fire and
Security
Systems Ltd
41.6 17.9 Premier
Technical
Services Group
plc
n/a Premier Technical Services Group plc has acquired Trinity Fire and
Security Systems Ltd from Mr. Andrew Cotton, Mr. Paul Clayton, Mr.
Shaun Corbett and Mr. Rob Holliday.
Premier Technical Services Group plc (PTSG), the UK-based company
engaged in providing access and safety services, is headquartered
in Castleford.
18/01/
2019
Motorhog
Limited; DH
Systems
Consultancy
Limited; Car
Transplants
Limited
n/a n/a SYNETIQ Ltd n/a Motorhog Limited, the UK based company engaged in
maintenance and dismantle of motor vehicles, Car Transplants
Limited, the UK-based car dismantler and seller of car spare parts
and DH Systems Consultancy Limited, the UK-based provider of
software solutions for the vehicle salvage and vehicle dismantling
industries, have agreed to merge and operate under a new entity
named SYNETIQ Ltd.
18/01/
2019
Tarpey Harris
Ltd
n/a n/a Morvern Group n/a Morvern Group, the UK-based investment holding company, has
acquired Tarpey Harris Ltd, the UK-based manufacturer of wax
molded parts, metallic tooling and machined parts supplied to the
aerospace and Industrial gas turbine engine markets, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
90 Source: Megermarket
Country Focus – UK
08/01/
2019
Martek Marine
Limited
n/a 11.1 James Fisher &
Sons Plc
n/a James Fisher & Sons Plc, the listed UK-based provider of specialist
services to the marine, oil and gas, and other high assurance
industries, including ship operating and management, has acquired
Martek Holdings Limited, a UK-based provider of safety and
calibration systems and products to the marine sector, for a
consideration of GBP 10m.
04/01/
2019
Lyndon
Scaffolding Plc
55.4 n/a Brand Industrial
Services, Inc.
n/a Brand Industrial Services, Inc. (BrandSafway ), the US-based
company engaged in industrial and commercial scaffolding,
concrete construction, insulation, carpentry, special events and
safety services, has acquired Lyndon Scaffolding Plc, the UK-based
provider of comprehensive access solutions for the commercial
construction, industrial and infrastructure markets, for an undisclosed
consideration.
03/01/
2019
Hiremech Ltd. n/a n/a Briggs
Equipment UK
Ltd.
Roderick
Smith
(Private
Investor);
Paul Green
(Private
investor)
Briggs Equipment UK Ltd., the UK-based company engaged in
distribution of counterbalance forklift trucks and warehouse
equipment, has acquired Hiremech Ltd., the UK-based forklift seller
and hire company, from Mr. Paul Green and Mr. Roderick Smith, the
UK-based private individuals, for an undisclosed consideration.
02/01/
2019
Straightpoint
(UK) Limited
n/a n/a The Crosby
Group LLC
n/a The Crosby Group LLC, the US-based company that designs and
manufactures accessories for the lifting and material handling
industry, has acquired Straightpoint (UK) Limited, the UK-based
manufacturer of load cells and force measurement equipment, for
an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
91 Source: Megermarket
Country Focus – Canada
26/03/
2019
Plastique
Micron Inc.
n/a n/a Altium
Packaging
Canada Inc.
Fonds de
Solidarite
FTQ;
Investissem
ent
Quebec
Inc.
Altium Packaging Canada Inc., a wholly-owned subsidiary of
Consolidated Container Company, has acquired Plastique Micron
Inc. from Fonds de Solidarite FTQ and Investissement Quebec Inc.
Altium Packaging Canada Inc., the US-based company
headquartered at Atlanta, Georgia, provides packaging solutions.
Plastique Micron Inc., a Canada-based company headquartered at
Quebec, manufactures and exports plastic containers to the
pharmaceutical, cosmetics and food industries.
21/03/
2019
Montreal
Bronze Limited
n/a n/a Hunt Valve
Company, Inc.
n/a Hunt Valve Company, a Salem, Ohio-based valve maker backed by
May River Capital, has acquired Terrebonne, Quebec-based
Montreal Bronze Limited.
Deal Snapshot Terms: Undisclosed Strategic Rationale: Expands and
complements Hunt's product offering and provides access to
additional US Navy and international shipyards and industrial
customers. Background: On 01 December 2015, May River and
Maranon Capital, LP, the US-based private equity firm, had acquired
Hunt Valve, for an undisclosed consideration.
19/03/
2019
Rockwater
Energy
Solutions
Canada Inc.
n/a n/a Undisclosed
bidder
Select
Energy
Services,
LLC
An undisclosed bidder has acquired Rockwater Energy Solutions
Canada Inc., a Canada-based provider of fluids and environmental
solutions including water, stimulation, fracturing, fluids, and
production needs for to oilfield companies, from Select Energy
Services, Inc., the listed US-based company engaged in providing
engineering water solution, manufacture of specialty chemicals and
other wellsite services to the oilfield services industry, for an
undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
92 Source: Megermarket
Country Focus – Canada
19/03/
2019
Child Check-
Mate System,
Inc
n/a n/a USSC Group,
Inc.
n/a USSC Group, Inc., the US-based company that designs, engineers
and supplies ergonomic, durable seating for transportation vehicles,
and a portfolio company of Dubin Clark & Company, Inc., the US-
based private equity firm, has acquired Child Check-Mate System,
Inc(CCM), Canada-based School Bus safety company that
develops a unique alarm system which acts as an electronic
reminder to drivers, for an undisclosed consideration.
15/03/
2019
Vari-Form
Corporation
(Strathroy,
Ontario
operations)
n/a n/a Fiat Chrysler
Automobiles
N.V
n/a Fiat Chrysler Automobiles N.V the listed UK-based company that
designs, engineers, manufactures, distributes, and sells vehicles,
components, and production system has acquired the Ontario
operations of Vari-Form Corporation, for an undisclosed
consideration. Vari-Form Corporation has filed for bankruptcy.
07/03/
2019
Dart
Aerospace Ltd
n/a 66.6 First Aviation
Services Inc.;
Greenbriar
Equity Group,
L.P.
Era Group
Inc; Eagle
Copters
Ltd.
Greenbriar Equity Group, L.P. along with First Aviation, Inc. has
agreed to acquire Dart Aerospace Ltd from Eagle Copters Ltd. and
Era Group Inc.
Greenbriar Equity Group, L.P., the US-based private equity firm,
headquartered in Rye, New York. First Aviation Services Inc., the US-
based provider of repair and overhaul, rotables management and
related engineering services to the aviation industry, headquartered
in in Connecticut. Dart Aerospace Ltd, a Canada-based company
headquartered in Montreal, is engaged in design, manufacturing
and marketing of equipment and aftermarket components for the
helicopter and fixed-wing industries.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
93 Source: Megermarket
Country Focus – Canada
05/03/
2019
QSG Inc. n/a n/a OCR Canada
Ltd.
Gilles
Gaudreault
(Private
Investor)
OCR Canada Ltd., a Canada-based provider of automated
identification data capture solutions and services, business process
analysis services and project management services, and a subsidiary
of Barcodes, Inc., the US-based provider of barcode, mobile
computing, point of sale and RFID solutions, has agreed to acquire
QSG Inc., a Canada-based specialty systems integrator focused on
field and supply chain mobility, from Gilles Gaudreault, a Canada-
based private investor, for an undisclosed consideration.
01/03/
2019
Western
Dealers Co-
Auto (Paint,
Body, &
Equipment
Division )
n/a n/a Color
Compass
Corporation
Western
Dealers Co-
Auto
Color Compass Corporation, a Canada-based company engaged
in providing collision repair products and industry specific collision
repair training, has acquired the paint, body, and equipment
division, from Western Dealers Co-Auto, a Canada-based company
providing car wash and equipment services, for an undisclosed
consideration.
01/03/
2019
Measurand
Group
n/a n/a Vance Street
Capital LLC
n/a Measurand Group, a Fredericton, New Brunswick-based
manufacturer of geotechnical instrumentation, has been acquired
by Vance Street Capital.
26/02/
2019
GLV Inc. 160.0 113.0 Valmet Oyj n/a Valmet Oyj has agreed to acquire GLV Inc. Valmet Oyj, the listed
Finland-based developer and supplier of process technologies,
automation, and services for the pulp, paper, and energy industries,
is headquartered in Espoo. GLV Inc., the Canada-based company
that specializes in the design of equipment used in various stages of
pulp and paper production and industrial wastewater, drinking
water and water equipment, on a cash-free debt-free basis, is
headquartered in Trois-Rivieres.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
94 Source: Megermarket
Country Focus – Canada
25/02/
2019
Hydra Dyne
Technology
Inc. (75%
Stake)
23.7 n/a Interpump
Group S.p.A.
n/a Interpump Group S.p.A., has agreed to acquire a 75% stake in Hydra
Dyne Technology Inc., Interpump Group S.p.A., a listed Italy-based
manufacturer of high pressure piston plunger pumps, is
headquartered in Sant'Ilario d'Enza. Hydra Dyne Technology Inc., a
Canada-based producer of hydraulic cylinders, valves and rotary
manifolds, Interpump will pay a cash consideration of EUR 15.2m.
13/02/
2019
World Class
Extractions Inc
n/a 24.5 CBD Med
Research Corp
n/a CBD Med Research Corp has agreed to acquire World Class
Extractions Inc. World Class Extractions Inc, is the Canada-based
company that provides precision single step mobile extraction
systems, head-quartered in Toronto. CBD Med Research Corp, is the
listed Canada-based holding company having interest in companies
engaged in providing precision single step mobile extraction systems,
head-quartered in Vancouver. CBD Med Research Corp has agreed
to acquire World Class Extractions Inc, for a consideration of CAD
36.71m (USD 27.67m).
07/02/
2019
Crius Energy
Trust
n/a 437.7 Vistra Energy
Corp.
n/a Vistra Energy Corp. has agreed to acquire Crius Energy Trust. Vistra
Energy Corp., the listed US-based company engaged in production
and transmission of electricity, is headquartered in Texas, Dallas. Crius
Energy Trust, a listed Canada-based energy retailer that markets and
sells electricity and natural gas to residential and small to medium-
size commercial customers, is headquartered in Toronto. Vistra will
acquire 56,605,607 trust units representing a 100% stake in Crius, at an
offer price of CAD 7.57 (USD 5.74) per trust unit, thereby valuing the
transaction at CAD 428.5m (USD 325.14m).
05/02/
2019
Inuktun
Services Ltd.
n/a n/a Eddyfi NDT Inc. n/a Eddyfi NDT Inc., the Canada-based manufacturer of NDT solutions for
the inspection of critical components and assets in the nuclear,
power generation, oil & gas, and aerospace industries, has acquired
Inuktun Services Ltd., the Canada-based developer and
manufacturer of remotely operated crawlers and camera systems,
for an undisclosed consideration.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
95 Source: Megermarket
Country Focus – Canada
28/01/
2019
Aeryon Labs,
Inc.
n/a 175.1 FLIR Systems,
Inc.
Summit
Partners
LLP; MaRs
Discovery
District
FLIR Systems, Inc. [NASDAQ:FLIR], a Wilsonville, Oregon-based maker
of sensor systems, acquired Waterloo, Ontario-based Aeryon Labs
Inc.
Deal Snapshot Terms: USD 200m in cash. Strategic Rationale: Expands
FLIR’s drone offerings with advanced airframes, sensors, and flight
management software for government and defense customers. The
acquisition will increase FLIR’s unmanned systems solutions
capabilities and will expand beyond nano-UAS into Group 1 UAS
solutions for military.
20/01/
2019
ZCL
Composites
Inc.
n/a 205.4 ShawCor Ltd. n/a ShawCor Ltd. has agreed to acquire ZCL Composites Inc. ShawCor
Ltd. is the listed Canada-based energy services company
specializing in products and services for the pipeline and pipe
services, and petrochemical and industrial segments of the oil and
gas industry and other industrial markets, headquartered in Toronto.
ZCL Composites Inc. is the listed Canada-based manufacturer and
distributor of fiberglass liquid storage systems to the petroleum
industry, headquartered in Edmonton. ShawCor will acquire
30,559,647 shares, representing 100% stake of ZCL, at an offer price of
CAD 10 (USD 7.539) per share, thereby valuing the transaction at
CAD 305.596m (USD 230.41m).
15/01/
2019
Micanan
Systems Inc.
n/a 5.3 Nice S.p.A. n/a Nice S.p.A., an Italy-based company specialized in home
automation systems, has acquired Micanan Systems Inc., a Canada-
based company that manufactures operators of garage door
openers, used to automate commercial and industrial overhead
doors, for a consideration of CAD 8m (USD 6.027m) on a debt-free
basis.
Date Target Sales
(€ m)
EV
(€ m) Bidder Seller Deal Description
96 Source: Megermarket
Country Focus – Canada
10/01/
2019
SemCAMS ULC
(49% Stake)
n/a 754.1 Kohlberg Kravis
Roberts & Co.
L.P.
SemGroup
Corporatio
n
Kohlberg Kravis Roberts & Co. L.P. has signed a definitive agreement
to acquire a 49% stake in SemCAMS ULC from SemGroup
Corporation. Kohlberg Kravis Roberts & Co. L.P. (KKR),
headquartered in New York, New York, is a listed US-based global
investment firm. SemCAMS ULC, headquartered in Calgary, is a
Canada-based provider of midstream solutions and a subsidiary of
SemGroup Corporation.KKR has agreed to pay a consideration of
CAD 515m (USD 389.28m) to SemGroup.
10/01/
2019
Dixie Electric
Ltd.
n/a n/a Motorcar Parts
of America Inc
n/a Motorcar Parts of America, Inc. [NASDAQ:MPAA], a Torrance,
California-based remanufacturer, manufacturer, and distributor of
automotive aftermarket parts, has acquired Concord, Ontario-
based Dixie Electric, Ltd.
08/01/
2019
Solacom
Technologies
Inc.
n/a 28.8 Comtech
Telecommunic
ations Corp.
n/a Comtech Telecommunications Corp., a listed US-based company
that designs, develops, produces and markets innovative products,
systems and services for advanced communications solutions, has
agreed to acquire Solacom Technologies Inc., a Canada-based
provider of user-centric voice, data, and video 9-1-1 call
management solutions for public safety answering points, for a
consideration of USD 33m.
02/01/
2019
Pivotal Safety n/a n/a Total Safety
U.S., Inc.
n/a Total Safety U.S., Inc., the US-based provider of integrated industrial
safety services, equipment and compliance solutions to the oil and
gas industry, has acquired Pivotal Safety, a Canada-based industrial
safety company offering safety services, highly trained staff, and
quality equipment, for an undisclosed consideration.
97
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