2021 saw an unprecedented number of M&A deals announced worldwide. As confirmed by Statista, over 62,000 deals were reported showing an extortionary 24% growth from 2020. This huge boom in the M&A sector has shown signs, in Q1 that activity is returning to 'normal' according to Globaldata. Registered deals in Q1 2022 were lower than every quarter in 2021. It is widely seen and agreed to the dissipation of COVID-19-driven boost to deal-making.
Nevertheless, with deal-making activity showing signs of slowing down, Virtual Vaults announced a 40% growth in the first half of 2022 versus 2021. Evident that a tech specialist SaaS company offering a simple, safe and secure data room with a unique pricing model can report growth.
In this report, we’re looking over some of the top noteworthy M&A deals announced in 2022 so far.
Leading European private equity firm Astorg has acquired a majority stake in Avania Clinical from Kester Capital. Avania is one of the world's leading clinical CROs ("Contract Research Organizations") dedicated to medical technology.
Avania is one of the world's leading providers of outsourced clinical trial services, focusing on medical technology and covering the entire regulatory lifecycle across a broad range of therapeutic areas.
Kester Capital is the leading acquisition specialist. Kester focuses on healthcare, data and information and technology, targeting companies that need capital to realize their potential. Along with Kester, who intends to retain a minority stake, Astorg brings an impressive global network of MedTech relationships that will strengthen Avania's pipeline development and expand its customer base, while access to funding will help support its growth to organically land and through acquisitions.
French temporary work and human resources agency Proman has acquired a majority stake in Timing, including the Timing, InPerson, Personality, Doordoeners and Youbahn brands, from Dutch facility services provider ADG Dienstengroep. ADG will acquire a 30% stake in a new Proman subsidiary that covers all activities in the Dutch market.
With the sale, ADG lost more than half of its turnover and profits. In this way, the corporate group simplifies its own structure. Proceeds will strengthen facility service provider Heyday and cleaning group Asito. In the area of facilities, they want to add €500 million over the next few years. Proman has 700 branches in 16 countries with annual sales of approximately €3 billion. With the acquisition of Timing, Proman has gained an employment position in the Dutch temporary job market.
UK-based mid-market private equity firm Inflexion Private Equity has acquired Enviolo, a global specialist in the e-bike parts market. Headquartered in the Netherlands with a branch in Austin, Texas, Enviolo designs and develops transmission systems for e-bikes primarily for the European and North American markets. The company's proprietary technology enables bicyclists to intuitively adjust gear ratios, making riding safer and more enjoyable. As the e-bike market has grown strongly over the past few years, Enviolo has grown rapidly.
Inflexion states that the Enviolo team is incredibly driven and they look forward to working together on the further growth of this unique company, both in the local Dutch market and internationally.
Jenoptik AG acquires a 100 percent stake in BG Medical Applications GmbH ("Berliner Glas Medical"), SwissOptic AG and SwissOptic Co., Ltd. from Berliner Glas GmbH, which is a wholly-owned subsidiary of ASML Holding N.V.
The purchase price is approximately €300 million. For the 2022 fiscal year, the acquisition is expected to make a contribution to revenue worth approximately €130 million euros. This enables Jenoptik to strengthen its global and strongly growing photonics business and significantly expand its attractive medical technology business beyond its strong semiconductor equipment business. In addition, with this acquisition, Jenoptik will accelerate its sustainable development process.
Berliner Glas Medical is a leading supplier of high-precision customized optical components in the field of medical technology in Berlin. Furthermore, SwissOptic AG and SwissOptic Co., Ltd. are experts in the development and manufacturing of optical components and components, mainly used in the medical technology, semiconductor and metrology industries. In total, Berliner Glas Medical and SwissOptic currently have approximately 500 employees worldwide.
The Swedish company Hedin Mobility Group has acquired listed automotive company, Stern. Stern's car dealerships, damage repair companies and car rental companies are all sold to Hedin for a total of €103 million. The cash consideration to be paid by Hedin Mobility Group is €83 million.
This enables Stern, who is a dealer for brands such as Mercedes and Opel to pay out an extraordinary dividend of a maximum of €14.75 per share. Stern's stake in insurance company Bovemij was not part of the deal. The book value of this interest is currently €19.3 million. With this acquisition, Hedin hopes to take the next step in becoming a pan-European mobility provider. In addition, Hedin and Stern expect to improve the customer experience and loyalty in their automotive industry.
Dutch investment firm Parcom will become the new owner of Zorg van de Zaak. Zorg van de Zaak is the largest provider of occupational health and safety services in the Netherlands, with an estimated network of 67,000 employers, providing over 1.3 million jobs and has a turnover of approximately €300 million. An agreement has been reached on the acquisition with shareholders who are selling their interests for personal reasons. Buyer Parcom is one of the largest private equity firms in the Netherlands, investing primarily in industrial companies.
With Parcom as an investor, strategies aimed at improving employee well-being and vitality, as well as prevention and reintegration in the event of loss, will continue. Zorg van de Zaak and Parcom intend to continue to grow as a holistic collaboration in the field of sustainable employment.
The collaboration is subject to approval from employee engagement bodies such as relevant regulators, competition authorities and consultancies.
Located at Prinses Catharina-Amaliastraat 10 in The Hague, ExtraVerde has approximately 5,433 square meters of office space and 60 parking spaces. The building has been fully leased to the Dutch Heart Foundation and others. ExtraVerde is within walking distance of the Hague Ypenburg train station and can be travelled by private and public transport.
The seller is Abrdn, who sold the office building on behalf of one of his funds. APF International will provide Aspen with asset management of the property.