Following the recent CMBOR European buyout figures for 2011 (which peHUB took a look at last week), we thought it might be interesting to drill down and see which of those European deals have good old-fashioned US buyout involvement.
Particularly interesting to note are which players are still actively investing in Europe. U.S. investment in European buyouts has never quite returned to the heady heights of 2007 when it reached $147.9 billion and comprised 62% of the total European buyout market, according to data from Thomson Reuters. Since then U.S. investments have steadily declined to $90.2 billion in 2008 and hit a spectacular low of $13 billion in 2009. U.S. investments in European buyouts slowly creeped up to $35 billion in 2010 and $43.8 billion in 2010. The 2011 figure does however account for over half (59.9%) of the total European buyout market in 2011 which was valued at $73.1 billion.
Moves in the industry have reflected cautiousness towards Europe. Reuters reported US giant TPG last year lost Matthias Calice from its European buyout team and Philippe Costeletos stepped down as European co-chairman. And Vestar Capital recently closed offices in Munich and Paris as part of a plan to focus back on the US, according to Reuters. Neither of these firms feature in our top ten.
Some of the U.S. buyout house-led European deal highlights of last year include the SEK 21 billion ($337.38 million) secondary buyout of Swedish alarm provider Securitas Direct from EQT; the acquisition of a minority stake in German camera equipment producer, Leica Camera; the £925 million ($1.45 billion) purchase of UK mental health care service provider The Priory; and, the mega secondary buyout of French engineering company SPIE for €2.1 billion ($3 billion).
All of these include some high profile U.S. and global names. Take a look at our slideshow to see which pro-European U.S. behemouths came out on top in U.S. backed European buyouts in 2011.
Business description: International investment bank
Offices: Atlanta, Bahrain, London, Singapore
Deals in Europe: Viridian Group (UK – combination utilities)
Total Deal Value: $155.62 million