Deal Value Gets a Boost on KKR-Gardner Denver

In M&A, March didn’t really come in like a lion.

The first full week of the month saw only 96 U.S. announced transactions, valued at roughly $8.3 billion, according to Thomson Reuters. This compares to 168 transactions for the same time period (the first full week of March 2012), valued at $7.4 billion. Deal value rose about 12% while the number of transactions dropped nearly 43%.

The week’s largest deal was KKR’s $3.9 billion buy of Gardner Denver.

On the private equity side, the number of U.S. announced transactions plunged nearly 67% while deal value–helped by one large buyout–more than tripled . There were 14 PE-backed deals this week, valued at roughly $4.7 billion. This compares to last year when 43 transactions totaled roughly $1.3 billion.

Here are the week’s top 5 private equity deals, according to Thomson Reuters.

Photo courtesy of Shutterstock.


[slide title=”5. HSBC Finance assets”]

HSBC Finance Corp. this week agreed to sell its loan servicing facility and related assets in London and Kentucky. The buyer is Springleaf Finance. The deal is expected to close in fourth quarter

[slide title=”4. Western Precision Aero”]

In fourth place is RBC Bearings buy of Western Precision Aero for about $2.6 million. Garden Grove, Calif.-based WPA makes precision components and gears for the aerospace and industrial markets. RBC Bearings is a portfolio company of Aurora Capital.

[slide title=”3. HSBC Finance loan portfolio”]

HSBC Finance did another deal this week. The HSBC unit also agreed to sell its consumer loan portfolio. Newcastle Investment Corp. and Springleaf Finance were the buyers. The deal is expected to close in second quarter. Thomson Reuters values the deal at $224 million although a statement says Newcastle and Springleaf are paying $3.2 billion.

Newcastle is backed by Fortress Investment Group.

[slide title=”2. Hot Topic”]

In second place is Sycamore Partner’s $600 million deal for teen retailer Hot Topic. New York-based Sycamore was founded by former Golden Gate Capital executives in 2011.

[slide title=”1. Gardner Denver”]

The long-rumored sale of Gardner Denver finally came to fruition. On Friday, the industrial machinery maker agreed to sell itself to KKR for $3.74 billion, Thomson Reuters said.

Wayne, Pa.-based Gardner makes compressors, pumps and vacuum products for industrial uses.