
BC Partners joins 2008's big buyout elite
In many regions, large deals have become firmly rooted in the history books. However, BC Partners' acquisition of transformer manufacturer SGB Group from turnaround management firm HCP Capital and other stakeholders, for a price reported to be more than EUR500m, marks the sixth EUR500m+ deal in the DACH region this year. It is clear that Cinven, Sun European Partners, Paine & Partners, GS Capital Partners, PAI partners and the Macquairie funds could finance their deals under very different circumstances, which tended to involve large clubs of financing banks.
BC Partners' acquisition of SGB, however, was financed mainly with equity, in addition to a vendor loan from HCP Capital (page 42).
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