On July 24, 2024, Clayton, Dubilier & Rice (CD&R) and Everest UK HoldCo Limited, which is controlled by Permira funds and the majority shareholder of Exclusive Networks, announced a consortium formation with Olivier Breittmayer, the founder of Exclusive Networks. This consortium aims to acquire shares of Exclusive Networks through a jointly controlled entity, referred to as BidCo, subject to certain conditions.
The consortium confirmed that the final condition for the acquisition was met on December 16, 2024, when Exclusive Networks paid an exceptional distribution of €5.29 per share. The acquisitions were completed the following day at a price of €18.96 per share, following this distribution. Post-acquisition, BidCo holds a 66.7% stake in Exclusive Networks, encompassing both share capital and voting rights.
BidCo plans to file a simplified mandatory tender offer for the remaining shares of Exclusive Networks at the same price of €18.96 per share. If legal conditions are satisfied, BidCo will also seek to implement a squeeze-out at the end of the offer period. The offer is expected to open in February 2025, pending clearance from the French financial markets authority (AMF).
On July 23, 2024, the Board of Directors of Exclusive Networks expressed unanimous support for the offer, although a final opinion will follow after receiving a fairness assessment from independent expert Finexsi.
This announcement serves informational purposes and does not constitute an offer to purchase or solicit the sale of Exclusive Networks shares in any jurisdiction. Recipients of this press release are advised to comply with local regulations regarding its distribution.
CD&R, established in 1978, is a prominent private investment firm focused on generating strong returns by enhancing business sustainability through skilled investment and operational expertise. The firm partners with management teams across various industries, including healthcare, technology, and consumer markets, and operates from offices in New York and London.
Permira, founded in 1985, is a global investment firm that supports businesses with growth potential. With approximately €80 billion in committed capital, Permira's private equity funds engage in both majority and minority investments across five sectors: Technology, Consumer, Healthcare, Services, and Climate. The firm has a strong track record in technology investments, having allocated over $28 billion to around 80 companies in areas such as cybersecurity and digital commerce.
Permira employs over 500 staff across 16 offices worldwide, emphasizing its commitment to backing successful businesses. For more information about CD&R and Permira, interested parties can visit their respective websites or follow them on social media platforms.
