Sign in
- You are currently accessing unquote.com via your Enterprise account.
  
  If you already have an account please use the link below to sign in.
  
  If you have any problems with your access or would like to request an individual access account please contact our customer service team.
  
  Phone: +44 (0)203 741 1137
  
  Email: Georgina.Lawson@acuris.com
  - Sign in
Follow us
- Twitter
- LinkedIn
Free Trial
Subscribe

UK deal pipeline: live, expected and pulled sale processes

Mergermarket
24 September 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

A round-up of sale processes ongoing or expected to launch in the coming months in the UK, as well as auctions that have been paused or cancelled since the beginning of the year, courtesy of Unquote sister publication Mergermarket

Deals involving private equity firms in UK this year are at an 11-year low in terms of volume, with 217 transactions announced and €59.18bn changing hands in deals with value disclosed. Intelligence compiled by Mergermarket shows a total of 99 live and expected sale processes, in which financial investors are either selling or looking to buy UK-based targets. Another 19 sale processes were paused, cancelled or have sponsors opting for an IPO since the beginning of the year.

Click here for a full list of live, expected and paused/cancelled deals.

Top 5 live deals
Ongoing sale processes in the region

Sector	Target Company	Vendor(s)	Sell-Side Adviser(s)	Financials	Latest Intel
Consumer	Asda Retail chain	Walmart	Rothschild	£6.5bn potential deal value	20/09/2020 – The Mail on Sunday reported that Asda's sale process was expected to conclude by 25 September.
Consumer	Hovis Baking and flour milling business	The Gores Group, Premier Foods	Robert W Baird	£461m revenues 2018, £14.6m EBITDA 2018	13/09/2020 – Sky News reported that the company has attracted offers from trade, turnaround and private equity bidders.
Energy, mining and utilities	MapleCo Smart meter company	Omers, Ontario Teachers' Pension Plan, SSE	DC Advisory	£19.5m revenues 2019, £31m EBITDA 2019	05/08/2020 – Inframation News reported that at least three infrastructure funds were among bidders shortlisted in auction process.
Media	Sohonet Provider of data management solutions	Nimbus	PwC	£5m EBITDA 2020	08/09/2020 – Mergermarket reported that the sale had entered its final stages. LDC, Vicente Capital Partners and Primary Capital Partners were shortlisted in the second round.
Technology	Agilitas IT Solutions Outsourced inventory management services	NVM	BDO	£12m revenues 2019, £7m EBITDA 2019, £10m run-rate EBITDA	02/09/2020 – Mergermarket reported that first round bids were expected by the first week of September.

Top 5 expected sales processes
Auctions yet to launch in the region

Sector	Target Company	Vendor(s)	Sell-Side Adviser(s)	Financials	Latest Intel
Business services	Babble Provider of cloud-based communications technology	LDC	Spectrum Corporate Finance	£22m revenues 2020, £4.5m EBITDA 2020	09/09/2020 – Mergermarket reported that a sale is being prepared.
Consumer	Dr Martens Footwear company	Permira	Goldman Sachs, Robert W Baird	£1bn potential deal value, £454m revenues 2019, £80m EBITDA 2019	03/09/2020 – Bloomberg reported that sale plans could be revisited in a few months.
	Sweaty Betty Yoga-pants retailer	L Catterton	Rothschild	£400m potential deal value, £63.1m revenues 2018, £2.8m EBITDA 2018	20/08/2020 – Bloomberg reported that the company was being prepared for an auction.
	Unilever's tea division	Unilever	Centerview Partners, Goldman Sachs	€2bn revenues 2020, €400m EBITDA 2020	11/09/2020 – Mergermarket reported that sponsors were reassessing their game plans for the carve-out, as the decision to downsize the package for sale raised questions about growth potential and reopened considerations about price.
Media	Double Negative Visual effects services provider		JP Morgan	$600m potential deal value, $309m revenues, $70m EBITDA	20/05/2020 – Mergermarket reported that the company was exploring the sale of a minority stake.

Paused/cancelled sales/IPOs
Situations on hold and auctions reported to be cancelled or where the seller has made an announcement about a cancellation. Also includes sponsors opting for an IPO.

Sector	Target Company	Vendor(s)	Sell-Side Adviser(s)	Financials	Latest Intel
Business services	Travelex Forex services provider	n/d	PwC	n/d	15/06/2020 – Travelex announced that its sale process has been terminated.
Business services	Oxford International Education Group Educational services firm	n/d	DC Advisory	£73.6m revenues 2018	15/03/2020 – The Mail on Sunday reported that the sale of the company was suspended because of market uncertainty and volatility.
Energy, mining and utilities	Siccar Point Oil & gas producer	n/d	Lambert Energy Advisory, Rothschild	$3bn potential deal value	07/05/2020 – Mergermarket reported that after a pulled sale attempt earlier this year, the company was moving ahead with developing its portfolio and seeking new opportunities.
Leisure	Pepco (Steinhoff Retail division) Operates Pepco chains	Steinhoff International		€4.5bn-plus potential deal value, €1.7bn revenues, €151m EBITDA	12/03/2020 – Bloomberg reported that Steinhoff International will delay the planned sale or flotation of its European retail division Pepco Group.
Pharma, medical and biotech	Ascenti Physiotherapy services provider	n/d	Arrowpoint	£8m marketed EBITDA 2019	15/06/2020 – Mergermarket reported that the sale process has been pulled as the business struggles amid the coronavirus pandemic.