PAI Partners acquires VPS Holdings from TDR Capital

VPS Acquisitions, a company owned by TDR Capital, has sold VPS Holdings to PAI Partners. VPS is a European property specialist.


Today, VPS Acquisitions, a company owned by funds managed by TDR Capital LLP,
announced the sale of VPS Holdings (“VPS”), the leading European vacant property
specialist, to pre-eminent European private equity firm PAI Partners.
VPS is the leading European vacant property specialist providing security solutions, such as
its proprietary suite of specialised vacant property alarms, motion triggered video / CCTV
systems and security screens / doors, together with specialist property management
services, such as facility services, manned guards and live-in guardian services.
Robert W. Baird (“Baird”), a leading, global middle-market investment bank, advised VPS
Acquisitions on the deal. Jonathan Harrison, a Managing Director in Baird’s Global
Investment Banking business and a lead banker on the deal commented that the deal
further underscores private equity’s ongoing appetite and willingness to pay for high quality
“VPS is a rare pan-European investment opportunity, with strong positions in fragmented,
niche markets, a very good management team and multiple organic and M&A growth
prospects. Given the company’s scarcity value and favorable debt market dynamics, VPS
generated very strong interest from the private equity community.”
The VPS sale marks the fourth M&A deal involving a French entity for Baird in the last 6
months, including the recently announced sale of Ecova, Inc. to Cofely USA, an indirect
subsidiary of the French multinational utility company GDF SUEZ, GOJO Industries
investment in Laboratoires Prodene Klint, and the acquisition of Maxxam Analytics by
Bureau Veritas. It is also one of several recent deals where Baird acted on behalf of its
private equity clients, including:
 High Street Partners merger with Nair & Co;
 Competence Call Centers sale to Silverfleet Capital;
 Stream AS sale to MRC Global Inc.;
 Schülerhilfe sale to Deutsche Beteiligungs Ag; and
 Alexander Mann Solutions sale to New Mountain Capital.
With 250 investment banking professionals and offices in the United States, Europe and
Asia, Baird leverages its truly global reach to its advisory work, having completed M&A deals
in nearly 30 different countries.