Mergermarket European M&A Awards 2023

28 November

Mergermarket European M&A Awards 2023

Deal of the Year - Voted by you!

Voting is now closed for this year's Deal of the Year award. 

1. ALD acquires LeasePlan Corp

In January 2022 Société Générale’s car leasing arm ALD Automotive announced their intention to acquire LeasePlan from a consortium of funds led by TDR Capital.

ALD, the France-based fleet management and vehicle leasing company, under which ALD would acquire 100% of LeasePlan from a consortium led by TDR Capital, for a total consideration of EUR 6.2bn, through a combination of shares and cash.

LeasePlan is a Netherlands-based company engaged in providing vehicle leasing and fleet management services.

This transformative project would be a step-change towards creating a leading global player in mobility, benefiting from highly compelling complementary capabilities and synergies.

The deal closed at EUR 6.2bn in May 2023.

2. DSM merger with Firmenich 

In May 2022 DSM and Firmenich announced an intention to merge to become the leading creation and innovation partner in nutrition, beauty and well-being.

DSM is a public limited liability company incorporated under the laws of the Netherlands, with its headquarters in Heerlen, the Netherlands

Firmenich is a privately owned company, headquartered in Geneva, Switzerland

The deal will bring together Firmenich’s unique leading Perfumery and Taste businesses, its world-class science platforms and associated co-creation capabilities, combined with DSM’s outstanding Health and Nutrition portfolio and renowned scientific expertise.

The deal closed at EUR 13.9bn in May 2023.

3. Permira acquires Acuity Knowledge Partners from Equistone

In January 2023 Acuity Knowledge Partners announced that funds advised by Permira have acquired a majority stake in the business from Equistone.

Acuity Knowledge Partners is a leading provider of high-value research, analytics and business intelligence to the financial services sector. Headquartered in London, Acuity operates globally, including in the UK, USA, India, Sri Lanka, Costa Rica, China and Dubai, UAE.

Equistone will reinvest in Acuity as a minority shareholder.

In April 2023 Equistone announced it had completed the exit. Equistone initially invested in 2019. Since then, Acuity has achieved strong organic growth, with revenue increasing from $110m in 2019 to $227m in 2022, and its specialist workforce expanding to more than 5,500 employees.

The sale has been expected to value Acuity at  USD 1.3bn (GBP 1.05bn)

4. CVC acquires Scan Global Logistics from AEA Investors 

In February 2023 Scan Global Logistics announced that CVC Capital Partners Fund VIII has agreed to acquire a majority shareholding in the company from an investor group led by AEA Investors Small Business Private Equity (AEA).

Scan Global Logistics, headquartered in Denmark, is a the fast-growing global transport and logistics provider. With revenues of more than $3bn, SGL offers a full suite of end-to-end services across +150 locations in 45 countries and through +3,300 logistics professionals. Since 2017, Scan Global Logistics has seen an average annual growth in revenues of 33%, driven by above-market organic growth, combined with more than 30 acquisitions during the same period.

The acquisition closed in May 2023 at EUR 1.9 billion. 

5. Nordic Capital sold Macrobond to Francisco Partners 

In July 2023, Nordic Capital agreed to sell Macrobond to Francisco Partners.

Macrobond is headquartered in Malmö, Sweden and has offices in Europe, North America and Asia. Macrobond is a leading global provider of software and macroeconomic and financial data. Francisco Partners is a leading global investment firm that specialises in partnering with technology businesses.

Since its initial investment in 2018, Nordic Capital has together with the management and founders made significant investments in the company’s technology platform, product expansion and dedicated focus to build the leading global workflow tool for time series. The company has during Nordic Capital’s ownership more than tripled its ACV (annual contract value) and is currently trending at 34% LTM ACV growth.

It is anticipated that Nordic Capital will make around 6x return on investment from the sale, with deal valued at an estimated EUR 700 million.