Slideshow: Which U.S.-based buyout shops were most active in Europe in 2011?


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.

[slideshow]

[slide title=”10. Arcapita”]
Business description: International investment bank
Offices: Atlanta, Bahrain, London, Singapore
Deals in Europe: Viridian Group (UK – combination utilities)
Total Deal Value: $155.62 million

[slide title=”9. J.C. Flowers & Co”]
Business description: Financial services-focused private equity firm
Headquarters: New York
Deals in Europe: Fidea (Belgium – life insurance); Compagnie Europeenne de Prevoyance SAS (France – life insurance)
Total Deal Value: $334.57 million

[slide title=”8. Hellman & Friedman”]
Business Description: Buyout firm with focus on media, telecommunications, financial services, technology and marketing
Offices: New York, San Francisco, London
Deals in Europe: Securitas Direct AB (Sweden – Security Systems Services)
Total Deal Value: $337.38 million

[slide title=”7. Sankaty”]
Business Description: Mid-market investment group and fixed income affiliate of Bain Capital
Offices: Boston, London
Deals in Europe: Securitas Direct AB (Sweden – Security Systems Services)
Total Deal Value: $337.38 million

[slide title=”6. Bain Capital”]
Business Description: Global alternative asset management firm
US Offices: Boston, Chicago, New York, Palo Alto
Deals in Europe: Securitas Direct AB (Sweden – Security Systems Services); SkillSoft Corporation (Ireland – computer integrated systems design)
Total Deal Value: $337.55 million

[slide title=”5. Alinda Capital Partners”]
Business Description: Independent infrastructure investment firm
US Offices: Greenwich, CT; Houston, TX
Deals in Europe: FGP Topco (UK – airports, flying fields, and airport terminal services); agri.capital (Germany – combination utilities)
Total Deal Value: $443.44 million

[slide title=”4. Advent International Corporation”]
Business Description: Global private equity firm
US Offices: Boston and New York
Deals in Europe: American Heart of Poland (Poland – medical and surgical business); MaxamCorp (Spain – explosives); MEZSERVIS (Czech Republic – electrical machinery, equipment, and supplies); Mondo Minerals (Netherlands – producer of talc); Oberthur Technologies (France – semiconductors and related devices); Priory Group (UK – skilled nursing care facilities); Provimi Pet Food (Hungary – animal and pet food); SkillSoft Corporation (Ireland – computer integrated systems design); Tes Vsetin (Czech Republic – motors and generators); Towergate Underwriting Group (UK – insurance agents, brokers, and services)
Total Deal Value: $ 516.31 million

[slide title=”3. Clayton, Dubilier & Rice”]
Business Description: Global private equity firm
US offices: New York
Deals in Europe: SPIE (France – engineering services)
Total Deal Value: $755.61 million

[slide title=”2. Apollo Management”]
Business Description: Global asset manager
US offices: New York, Los Angeles, Houston
Deals in Europe: Ascometal (France – steelworks); Constellium (France – secondary smelting and refining of nonferrous metals); Taminco (Belgium – industrial organic chemicals)
Total Deal Value: $1,917.19 million

[slide title=”1. Blackstone”]
Business Description: Global investment firm
US Headquarters: New York
Deals in Europe: City Inn (UK – hotels and motels); Harbourmaster Capital Management (Ireland – business credit institutions); Jack Wolfskin (Germany – sporting and recreational goods and supplies); Leica Camera (Germany – optical instruments and lenses); Royal Bank of Scotland Group PLC – Commercial Property Loans (UK – real estate agents and managers); Royal Bank of Scotland Group PLC- Real Estate Loan Portfolio (UK – real estate investment trusts); Tangerine Confectionery (UK – ice cream and frozen desserts)
Total Deal Value: $10,309.57 million

[/slideshow]

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