Deals to Date: Q3

by Kouji Sonobe

  • 25 Jul 2011
  • PE

There have been 80 private equity-backed buyout deals with an aggregate value of $16.4 billion in North America in the quarter to date. When compared to the same quarter last year, the aggregate value has already exceeded half of the total amount announced for the same period in 2010.

Of the deals announced this quarter, public to private transactions represented 65% of the total aggregate value. Most notable is the $6.3 billion announced acquisition of Kinetic Concepts (“KCI”) by an investor consortium consisting of Apax Partners, Canada Pension Plan Investment Board and the Public Sector Pension Investment Board. KCI was previously under private equity stewardship, when back in October 1997, Richard C. Blum and Associates and Fremont Partners acquired the publicly listed company for $850 million. The firm was re-floated in 2004 and both private equity firms fully exited their investments in 2005. As the biggest private equity deal announced in the past three years, Kinetic Concepts represents a growing trend towards a greater number of mid-market and mega buyout deals being entered into by private equity firms as the competition in mergers and acquisition intensifies.

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