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New Deal


Announced

TPG-led consortium to acquire Smartgroup for $1.38bn.

Financials

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Transaction Value£1,014m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium31%
One Off Charge-

Sources

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Friendly

employee engagement

Outsourced HR and Staffing

Cross Border

Acquisition

Majority

Public

Private Equity

Pending

human capital management

Tender Offer

Australia

Synopsis

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TPG-led consortium offered to acquire Smartgroup, an Australia-based company engaged in providing specialist employee management services, for $1.38bn. Australian private equity investors Potentia and Aware Super are also participating. The bid represents a 31% premium. Smartgroup is willing to recommend a binding offer at $10.35 a share.

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