Largest Global Private Equity-Backed Buyout Deals in 2012 YTD (as of 22 November 2012)

by Jessica Hull

  • 22 Nov 2012
  • PE

Preqin Buyout Deals Analyst reveals that there have been 2498 global private-equity backed buyout deals with an aggregate value of $214.4bn in 2012 year to date (as of 22 November). Of these deals, the top five have amounted to a significant $27.2bn, which is over 12% of the total aggregate value for the year. So far, Q3 2012 has been the highest grossing quarter of 2012 in terms of aggregate deal value, which could be partly explained by three of the top five private equity-backed buyout deals of the year occurring in this quarter.

The fifth largest private equity-backed buyout of 2012 to date was the $3.46bn acquisition of Hamilton Sundstrand Industrial, a US-based company that provides high-technology products and services in the aerospace and building systems industries. The investment was funded by equity from BC Partners and Carlyle Group, as well as external debt financing commitments contributed by a large banking consortium in July 2012.

The fourth largest private equity backed buyout deal of 2012 to date is the acquisition of DuPont Performance Coatings, a provider of performance coatings for the automotive, aviation and marine industries. The US company agreed to be acquired by Carlyle Group in August 2012 for $4.9bn in an all-cash transaction. The investment is to be funded from equity from two of Carlyle Group’s funds- Carlyle Partners V and Carlyle Europe Partners III.

At the beginning of this week, the third largest private equity-backed buyout deal of the year to date was announced. Terra Firma Capital Partners entered into an agreement to acquire Annington Homes for £3.2bn. The deal consisted of £1bn of equity and £2.2bn in new debt financing and assuming existing debt.

The second largest private equity-backed buyout deal of 2012 to date was the acquisition of Cequel Communications by BC Partners and CPP Investment Board for $6.6bn, with 30% of the deal size made up of equity. Cequel Communications, doing business as Suddenlink Communications, was acquired from Charterhouse Group, Goldman Sachs Merchant Banking Divison, Jordan Company, Oaktree Capital Management and Quadrangle Group. This buyout deal was announced in July 2012, and was also completed this week.

The highly reported acquisition of the full ownership of El Paso Corporation Oil And Natural Gas Exploration And Production Assets for $7.15bn was the largest private equity-backed buyout deal of 2012 YTD. The buyout deal was acquired by Apollo Global Management together with Riverstone Holdings, Access Industries and Korea National Oil Corporation and was supported by a $5.5bn debt package, with leverage accounting for 77%.

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