PE International Snapshots 2022

PE International Snapshots 2022

BDO PRIVATE EQUITY INTERNATIONAL SNAPSHOTS 2019 PRIVATE EQUITY I E I S 22 BDO PRIVATE E I FROM AROUNDTHEWORLD BDO PRIVATE EQUITY DEALS FROMAROUNDTHEWORLD

BDOGLOBAL CORPORATE FINANCE WHAT SETS US APART

WITH A TOTAL DEAL VALUE OF 2,020

$128.6bn DEALS IN 2021

ONE OF THE MOST ACTIVE ADVISERS GLOBALLY *

*1st most active M&A Advisor Globally – Pitchbook league tables 2021 1st most active Advisor & Accountant Globally 2021 – Pitchbook league tables 2021

2nd leading Financial Due Diligence provider Globally – Mergermarket global accountant league tables 2021

WELCOME Welcome to our 2022 edition of International Private Equity Snapshots

We have put together a selection of deals that our Corporate Finance teams across the globe have worked on in the last fewmonths. On average, over 35% of our deals across the globe involve private equity with the percentage growing much higher in Europe and North America. We have a growing team of 2,500 BDO Corporate Finance specialists in 100 countries doing more and more deals on a yearly basis. We are delighted and very proud to have been named No. 1 Advisor & Accountant on PE deals globally in the Pitchbook league tables 2021. We hope that the selection of transactions in this brochure shows the breadth of industries, clients and geographies where we operate.

SCOTT HENDON HEAD OF GLOBAL PRIVATE EQUITY

[email protected]

DENMARK PG.11

CONTENTS

THE NETHERLANDS PG.26

UK PG.30

CANADA PG.8

BELGIUM PG.6

SPAIN PG.23

USA PG.32

ITALY PG.21

FRANCE PG.13

SWITZERLAND PG.25

CHILE PG.10

NORWAY PG.22

FINLAND PG.12

GERMANY PG.16

HUNGARY PG.18

AUSTRALIA PG.4

INDIA PG.19

TURKEY PG.28

ISRAEL PG.20

04

BDO PRIVATE EQUITY

AUSTRALIA

Sale of Cormack Holdings Pty Ltd toTricorBraun

Working with the BDOCorporate Finance team throughout the M&A process was a pleasure, and we were impressed at every turn with their unwavering commitment and high quality of work. The assistance BDO provided was invaluable and we could not have selected a better adviser to have on our team. I would strongly recommend BDO to any company looking to undertake an M&A process. TricorBraun is owned by funds managed by Ares Management Corporation’s Private Equity Group and Ontario Teachers’ Pension Plan Board. TricorBraun provides innovative solutions across a wide array of customer end markets in plastic and glass containers, closures, dispensers, tubes and flexibles. BDO’s Corporate Finance team, led by Sebastian Stevens, was engaged by Cormack Packaging to manage the sale process and provide M&A advisory assistance. Global packaging leader, TricorBraun, has entered into a Share Sale Agreement to acquire 100% of the shares in Cormack Holdings Pty Ltd ('Cormack Packaging'). Cormack Packaging is an Australian packaging company specialising in the manufacture and distribution of caps and closures into the personal care, pharmaceutical, household cleaning, industrial, automotive, food, beverage and cosmetic industries in Australia and New Zealand.

BDO contact for this transaction

SEBASTIAN STEVENS Partner in Charge Advisory Corporate Finance [email protected]

Mathew Cormack | Managing Director, Cormack Holdings Pty Ltd

INTERNATIONAL SNAPSHOTS 2022

BDO PRIVATE EQUITY

05

AUSTRALIA

TheVortiv Board engaged BDO to advise on strategic options relating to an unsolicited approach we received for our Cyber Security businesses. BDO demonstrated a strong understanding of the regulatory framework whilst maximising the value achieved for the Cyber Security business. We appreciated BDO bringing sector experts across multiple offices which was critical to the success of the deal conducted through the COVID-19 lockdown. BDO brought together a range of M&A specialists from across the nation (Melbourne and Perth) to manage the complex issues and regulatory requirements, including navigating ASX Listing Rules, Corporations Law, ATO tax rulings, Independent Expert determination and FIRB approval process. BDO managed the AUD25 million transaction to a successful completion with BGH Capital backed CyberCX, delivering a circa 20% price increase on the original approach. Vortiv Ltd is an ASX listed company which operated cyber security businesses Cloudten and Decipher Works (Cyber Business) and holds a minor investment in payment solutions business TSI India. Following an unsolicited approach for its Cyber Business in June 2020, BDO was appointed to advise the board on how it should manage the offer and ensure directors’ duties would be discharged whilst maintaining competitive tension through a confidentially-managed process.

Sale of Vortiv Limited’s cloud and cyber-security business to CyberCX

BDO contact for this transaction

TONY SCHIAVELLO Partner

Corporate Finance, Melbourne [email protected] TODD GROVER Partner Corporate Finance, Perth [email protected] SILVIO COLALUCA Associate Director Corporate Finance, Melbourne [email protected]

Jeffrey Lai | Managing Director, Vortiv Limited

INTERNATIONAL SNAPSHOTS 2022

06

BDO PRIVATE EQUITY

BELGIUM

Sale of Hospidex to the PE firmSmile Invest

The BDO M&A team in Belgium advised the shareholders of the leading healthcare solution provider Hospidex in the sale of an equity stake to the private equity firm Smile Invest. For over 30 years, Hospidex has been specialised in the distribution and commercialisation of medical equipment in Western Europe. It offers complete solutions, both for end users at home and for healthcare professionals in hospitals, retirement and care homes, specialty medical stores and pharmacies.

BDO also provided vendor assistance.

BDO contact for this transaction ALEXI VANGERVEN Partner [email protected]

INTERNATIONAL SNAPSHOTS 2022

BDO PRIVATE EQUITY

07

BELGIUM

The BDO M&A team in Belgium advised the shareholder of Building Technology Group in the sale of his shares to Vectis Private Equity. Building Technology Group is one of the most effective installation companies for building infrastructures and has a good track record of organic growth and integration of selective acquisitions. The intention is to maintain this momentum and actively look for buy and build opportunities in various building technologies.

Vectis invests in the Antwerp-based Building Technology Group

BDO contact for this transaction ALEXI VANGERVEN Partner [email protected]

INTERNATIONAL SNAPSHOTS 2022

08

BDO PRIVATE EQUITY

CANADA

Goldner Hawn invests in Nuco Inc.

The team at BDOM&A and Capital Markets understood the value of Nuco Inc. They strived to provide top tier professional services and had deep understanding of the industry to get the best results. With BDO’s technical expertise and guidance, the entire transaction process felt seamless. For over 30 years, Nuco Inc. has been a leading manufacturer of sealants, foams, firestops, and adhesives products. Goldner Hawn is a Minnesota based Private Equity fund that has been a source of private capital to leading lower middle market companies for the past 30 years. The BDO Canada M&A and Capital Markets team acted as the exclusive financial advisor to Nuco Inc., by assisting the owners of the business with the recapitalisation of their company.

BDO contact for this transaction

RYAN FARKAS Managing Director [email protected]

Scott Gray | Owner, Nuco Inc.

INTERNATIONAL SNAPSHOTS 2022

BDO PRIVATE EQUITY

09

CANADA

The BDO Transaction Services team in Canada advised Fulcrum Capital Partners, a leading Canadian private equity firm focused on the lower middle market, on its investment in Creative Outdoor Advertising ('COA' ). COA is a leading provider of outdoor street furniture advertising solutions for local businesses across small and mid-sized municipalities throughout North America.

FulcrumCapital Partners Invested in Creative Door Advertising

BDO contact for this transaction SUNIL SHARMA Partner [email protected]

INTERNATIONAL SNAPSHOTS 2022

10

BDO PRIVATE EQUITY

CHILE

Business valuation and real estate assets valuation for transaction and IFRS purposes

BDO's Valuation team is advising Grupo Patio, a Chilean based real Estate Group, in the valuation and structuring of a new Investment Fund, in partnership with an Institucional Fund.

BDO acts as an essential collaborator offering support in all valuations carried out for different purposes. As such, BDO's flexibility and proximity are very valuable for Grupo Patio.

Patricio Baeza | Sub Gerente de Finanzas, Grupo Patio

BDO contact for this transaction

EMILIOVENEGAS Partner [email protected] CARMEN CATAN Manager [email protected]

INTERNATIONAL SNAPSHOTS 2022

BDO PRIVATE EQUITY

11

DENMARK

The BDO Transaction Services teams in Denmark and Sweden provided financial and tax due diligence services to Efficy SA from Belgium on two transactions during 2021. Efficy SA, backed by the PE's Fortino Capital and APAX acquired webCRM A/S from Denmark and Apsis Group AB from Sweden. WebCRM is the no.1 independent CRM provider in Denmark. The company offers a very configurable, easy to use and highly secure cloud-based CRM system. Apsis Group AB is a leading Nordic provider of >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36

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