dimanche 21 janvier 2007

Selected Transactions Q3

Steelforce sells 55% interest to Next Capital

Next Capital has invested AU$ 35 million to acquire a 55% interest in Steelforce Australia Limited.
Steelforce is primarily a steel distribution company with businesses in Brisbane and Sydney. Steelforce recently opened a steel pipe and tube manufacturing business in China. As part of the transaction, Steelforce acquired the outstanding 50% ownership of SydSteel Pty Ltd, a subsidiary company, and the outstanding 25% interest in Steelforce China, the manufacturing subsidiary based in China. The founders also took the opportunity for a partial sell-down of their interests in the company. All founders remain involved in Steelforce. Clairfield’s Australian partner InterFinancial Limited acted as exclusive advisor to Steelforce.

Natexis-Cape acquires majority stake in Eutourist

Private equity fund Natexis-Cape bought Eutourist SpA. Eutourist SpA is a catering company with
turnover of € 25 million. Natexis-Cape is a private equity firm focusing on small and medium-sized
companies in the north of Italy. The transaction was a family buyout.
Natexis-Cape acquired 80 % of the shares and the founder’s family acquired the remaining shares. The equity value was 20 million euros with an additional five million euros of potential earn-out. The transaction was advised by K Finance, Clairfield’s Italian partner.
Management buyout of Publicis Paname

Clairfield France led a management buyout of the corporate communications division of the advertising group Publicis. The investment division of Clairfield France, intuitucapital investments
SC, acquired a 60% stake in the new company, FairValue Corporate Communication. Management of the company holds the remaining 40%. FairValue Corporate Communication provides public relations and corporate image consulting services with clients in wide-ranging fields, including the law firm Herbert Smith, strategic consultants Mercer, the gold-mining company Cluff Gold, and call centers B2S.

Cross Value sold to Nextedia

Clairfield France sold CrossValue, an online marketing consulting company, to Nextedia. Nextedia is a web-marketing group that offers a full range of Internet-marketing services, including online advertising, loyalty programs, and search marketing. CrossValue’s main clients include Total, Française des Jeux, and Bongrain. The previous owners of CrossValue were its management, with a 75% stake, and the investment arm of Clairfield France, intuitucapital investments, with a 25 % stake.
gopublic sold to lepublicsystème

Clairfield’s French partner, intuitucapital, conducted the sale of gopublic, a public relations agency, to Le Public Système. Le Public Système is a communications group listed on the Paris Stock Exchange, with sales of € 80 million in 2005. gopublic’s main clients are Vinci, Noos, Virgin, Nestlé Waters, and Intermarché. The company was owned by its management (40%) and intuitucapital (60%). The acquisition was paid with 65% in cash and 35% in shares. Vedior divests ISU Clairfield’s German partner, SynCap Management GmbH, acted as exclusive advisor to Vedior N.V. in its divestiture of ISU Personaldienstleistungen GmbH. ISU was sold to BayernLB Private Equity. ISU is a temporary staffing company with projected sales for 2006 of 25 million euros.

Bayern LB Private Equity is the fully-owned PE subsidiary of Bayerische Landesbank Girozentrale with a total balance sheet of € 340 billion and 9500 employees.
Keddy sold to Europcar Europcar, the leading European car rental firm, has acquired Keddy Car & Truck from LeasePlan Corporation. Keddy is the top short-term business-to-business car rental outfit in Belgium with a fleet of 3400 vehicles, catering primarily to trade clients. Clairfield’s Dutch partner, Boer & Croon Corporate Finance+, acted as exclusive advisor to the sellers.

Spyker Cars

Spyker, the Dutch luxury sportscar manufacturer and owner of Formula One team Spyker MF1 Racing, has reached an agreement with Friesland Bank for a new credit facility. Spyker selected Friesland Bank for expansion of its working capital facility in order to finance growth and the working capital necessary for the production of a new sports utility vehicle. Clairfield’s partner in the Netherlands, Boer & Croon Corporate Finance+, acted as exclusive advisor to Spyker.