digital edition of UK & Ireland unquote

For more information on these deals, please
click the URL listed in each write-up.
8
DEALS
unquote.com/uk
MID CAP
Blackstone refinances Center Parcs
BLACKSTONE HAS refinanced
holiday provider Center Parcs,
injecting a further £100m of
equity.
The £1bn refinancing of Center
Parcs replaced the previous debt
structure and was secured against
the company’s current parks.
Blackstone has committed a
further £100m of new equity to
finance the £250m construction of a fifth park.
RBS, Barclays, HSBC, and Lloyds Banking Group have supplied
additional debt finance amounting to £150m.
Center Parcs, established in 1987, operates four holiday parks in the
UK. Based in Newark, the company employs 6,000 staff. It recorded
EBITDA of £131m from a £291m turnover in 2010/11.
Phoenix acquires Gall Thomson
Environmental
PHOENIX EQUITY Partners
has acquired liquid product
transfer equipment manufacturer
Gall Thomson Environmental
from trade player Lupus Capital.
The company was valued at £75m. Equity was invested from Phoenix
Equity Parnters 2010, which closed at £450m. Debt was provided by
HSBC, Santander, and RBS.
Gall Thomson Environmental, founded in 1978, produces a range of
products for pollution-free transfer of liquid and gas products in offshore
marine environments. The company is based in Great Yarmouth, UK.
Chamonix and Electra acquire Peverel
from administrators
CHAMONIX PRIVATE
Equity and Electra Partners have
announced the £62m acquisition
of property management services
company Peverel Group from
administrators Zolfo Cooper. The
deal will reduce the company’s
NAME
Center Parcs
DEAL
Expansion
VALUE £100m
DEBT RATIO 60%
LOCATION
Newark
SECTOR
Travel & tourism
FOUNDED 1987
TURNOVER £291m
EBITDA £131m
STAFF 6,000
www.unquote.com/2157033
NAME Gall Thomson Environmental
DEAL
MBO
VALUE £75m
SECTOR
Pipelines
FOUNDED 1978
www.unquote.com/2159005
NAME
Peverel Group
DEAL
Turnaround
VALUE £62m
DEBT RATIO 40%
LOCATION
New Milton
SECTOR Business support services
FOUNDED
1980s
STAFF 4,200
www.unquote.com/2157294
debt from £125m to £25m. Peverel has been in administration since
March 2011 after it was unable to arrange repayment with previous
debt provider Bank of America Merrill Lynch.
Chamonix and Electra have taken a substantial majority stake, with
the current management retaining a minority stake. The investors have
also brought in Janet Entwistle, previous managing director of BT
Fleet, for the vacant position of chief executive. A £25m senior debt
package was arranged by an undisclosed provider.
OEP buys Linpac Allibert
ONE EQUITY Partners (OEP)
has wholly acquired Linpac
Allibert, the returnable transport
packaging business of Linpac
Group.
The private equity arm of JP
Morgan acquired Linpac Allibert
with a view to complement its existing investment in plastic packaging
business Schoeller Arca Systems. OEP will operate both companies as
independent sister companies for the time being, but stated it would
consider further integration at a later date.
Linpac Allibert is part of the Linpac Group, which was owned
by Montagu between 2003 and 2009 – when the buyout house
lost control of the business in a debt-for-equity swap. Montagu had
nevertheless recouped around 80% of its investment in 2007 through
a recapitalisation.
SMALL CAP
FF&P sells Clipper Teas to Dutch
trade player
FF&P’S PORTFOLIO company
Clipper Teas has been acquired
by Dutch organic food company
Royal Wessanen.
Fleming Family & Partners
(FF&P) acquired Clipper Teas in
December 2007 for £25-30m.
The new owner, Royal
NAME
Linpac Allibert
DEAL
Buyout
LOCATION
Quinton
SECTOR Containers & packaging
TURNOVER €181m (2010)
STAFF 1,150
www.unquote.com/2157059
NAME
Clipper Teas
DEAL
Trade sale
VALUE