March
Deals List

A consortium of investors has agreed to acquire Aggreko, a UK-based world-leading provider of mobile modular power, temperature control, and energy services{{²}}{{{Aggreko PLC was acquired by TDR - I Squared consortium - Mergermarket </br>Source: MergerMarket}}}. Demand for Aggreko’s products was severely hit by the pandemic. The deal is expected to reposition Aggreko and accelerate its transition towards net-zero emissions to meet customer demand in clean technology. Aggreko joins a lengthening list of UK-listed companies taken private in 2021, as public-to-privates are fuelled by depressed share prices, the growing success of the vaccine roll-out and the expected recovery.

KPS Capital Partners agreed to acquire the aluminium rolling business from industrials and renewable energy group Norsk Hydro. The division is one of the largest global manufacturers of aluminium rolled products and serves diversified end markets such as construction and beverages. It includes seven plants, one R&D centre, global sales offices, and around 5,000 employees in Germany and Norway{{³}}{{{Norsk Hydro ASA (Rolling business) was acquired by KPS Capital Partners, LP - Mergermarket</br>Source: MergerMarket}}}. This sale is expected to help Norsk Hydro improve profitability and strengthen its position in low-carbon aluminium, while KPS – a specialist in manufacturing company investments – will carry out improvements at the rolling business that will include an initial focus on safety{{⁴}}{{{Norsk Hydro: Hydro agrees to sell Rolling business area to KPS Capital Partners for EUR 1,380 million</br>Source: Global Newswire}}}.

The consortium of investors, along with Cooper management, has agreed to acquire the company in a deal that is valued at £1.7 billion{{⁵}}{{{Cooper Consumer Health SAS was acquired by CVC Capital Partners Limited, Avista Capital Partners LP and Yvan Vindevogel (Private Investor)</br>Source: MergerMarket}}}. Cooper Consumer Health is a leading independent over-the-counter drug manufacturer and distributor headquartered in France. The deal stands to strengthen the company’s presence in Europe, while also paving the way for its entrance into US and Chinese markets. Demand for over-the-counter drugs and treatments has risen as a result of the pandemic, and this deal is expected to add to almost £8 billion worth of healthcare acquisitions by private equity firms in Europe in 2021 so far{{⁶}}{{{CVC Capital is Reportedly Near a $2.6B Deal for Pharma Firm Cooper</br>Source: Bloomberg News}}}.

CVC Capital Partners Limited has agreed to pay up to £365 million for a 14.3% stake in Six Nations Rugby, sealing a deal that had been delayed for almost two years{{⁷}}{{{Six Nations Rugby Ltd was acquired by CVC Capital Partners Limited</br>Source: MergerMarket}}}. The objective of the partnership is to grow the game and attract a wider and more diverse fan base through investments in data and commercial capabilities to develop renowned tournaments. CVC, a former owner of Formula One, has been increasingly active in rugby and has positioned itself to become the dominant commercial player in the sport. Following the postponement of the Six Nations rugby union tournament last year, and corresponding revenue shortfalls, the investment includes contigencies around solvency of the unions and resumption of matches{{⁸}}{{{CVC seals £365m Six Nations rugby deal</br>Source: Financial Times}}}.

Blackstone and EQT’s growth capital divisions invested £324.4 million in Epidemic Sound, a global musictech company headquartered in Stockholm that provides royalty-free music to its subscribers, which they can then use in their own content creations. The deal values Epidemic Sound at around £1 billion and will enable it to expand in existing and new markets, while also helping the company to invest more aggressively in its core user experience. Epidemic Sound has grown rapidly as demand in its end-markets for restriction-free music has grown. It previously raised £14.5 million in a £267 million valuation in 2019.