According to Business Intelligence Bureau Van Dijk, June proved to be an active trading period with 115 transactions records for the month. Overseas acquirers were also busy during this time with a recording of 49 deals for June.
The largest transaction for the month was the £1.9 billion acquisition of Informa plc’s pharma intelligent business by Warburg Pincus LLC. Pharma Intelligence powers a full suite of analysis products – Datamonitor Healthcare, Sitetrove, Trialtrove, Pharmaprojects, Biomedtracker, Scrip, Pink Sheet and In Vivo – to deliver the data needed by the pharmaceutical and biomedical industry to make decisions and create real-world opportunities for growth. Warhbug Pincus LLC on the other hand, is a leading global growth investor. This firm has more than $80 billion in assets under management. The firm’s active portfolio of more than 245 companies is highly diversified by stage, sector and geography. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $103 billion in over 1,025 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.
Another significant deal recorded for the month was the £697 million acquisition of Falko Regional Aircraft Ltd by Chorus Aviation Inc. Joe Randell, President and Chief Executive Officer of Chorus Aviation said, “I’m extremely pleased and very optimistic about our future growth opportunities. This transformative acquisition establishes Chorus as the world’s largest aircraft lessor focused on the regional aviation segment and a leading worldwide provider in all aspects of regional aviation. Growth through accessing third party capital reduces balance sheet exposure, lowering debt and residual value asset risk, while also enhancing stability and diversity of earnings, through asset management fees.”
Other high value deals for this month include the acquisition of ReViral Ltd by Pfizer Inc. for £418 million; FACE IT Ltd by Savvy Gaming Group for £366 million; Johnson Matthey plc’s Health Business by Altaris Health Partner V for £325 million; HG Storage International Ltd by Tristar Transport LLC for £175 million; and Acacia Pharma Group plc by Eagle Pharmaceuticals Inc. for £80 million.
Charles Pugh Holdings Ltd was acquired by Cary Group Holding AB for £65 million. Cary Group is one of the UK’s market leaders in vehicle glass repair and replacement, along with related wholesale business. The acquisition is important in bolstering Cary Group’s position in the United Kingdom and enables synergies to be achieved together with Cary Group’s existing UK operations. Charles Pugh Holdings is also part of the same consortium as Cary Group in the UK, National Windscreens. Charles Pugh Holding’s sales for 2021 were approximately £56 million and the company has around 500 employees. Anders Jensen, CEO of Cary Group commented, “The acquisition of Charles Pugh Holdings is an important part of our strategy to improve our market position in the United Kingdom and, through synergies between Charles Pugh Holdings and our existing company in the UK, increase the profitability of our UK operations. The company, with its long history, has a well-run business and we look forward to them becoming part of the Cary Group,”
Some of the overseas deals that took place during this reporting period include the acquisition of Spirit Energy Norway AS’s Norwegian interests in the Stafford field by Equinor Energy AS; Swaline Print Ltd by Zeus Packaging Group Ltd; Clayton Crown Hotel business by AG Hotels Srl; Loadpoint Bearings Ltd by GL Tech Co., Ltd and PCF Group plc by Somers Ltd.
The professional and financial sectors proved to be particularly active during this trading period with several deals taking place. Some of these acquisitions include UK General Insurance Ltd by Primary Group Ltd; Stamford Partners LLP by Piper Sandler; Berry Marketing Services Ltd by Cvent Inc.; and Finalto Financial Services Ltd by Gopher Investments.
To conclude, M&A activity in June spans across a number of sectors, with some significant deals contributing to this month’s overall figure. The UK maintains appeal from both the UK and global buyers, with active public trade buyers and private equity investors.
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