Private equity firm CVC Capital Partners is buying Domestic & General, reportedly for about $1.2 billion.
The target provides extended warranty plans for appliances and central heating installations.
Domestic & General was sold by private equity firm Advent International, which took it private in 2007. The company went public on the London Stock Exchange in 1988. Under Advent’s ownership, Domestic & General’s Ebitda increased from about $63.5 million for fiscal year 2008 to $128.5 million for fiscal year 2013, which ended in March.
Advent, headquartered in Boston, has invested in more than 280 transactions and has about $39 billion in assets under management.
London-based CVC announced on Aug. 12 that it is buying some of Campbell Soup Co.’s (NYSE: CPB) European assets, including the Devos Lemmens, Royco and Deli Soup brands. Also in August, the firm made a deal to sell the Colomer Group for about $600 million to Revlon Inc.
CVC has invested in more than 55 companies, including Albertis, Cloetta and Evonik Industries.
Goldman Sachs & Co. (NYSE: GS) acted as Advent’s financial adviser, while Freshfields acted as Advent’s legal counsel. Marlborough Partners provided debt advisory services, while PricewaterhouseCoopers provided financial and commercial due diligence, and Ernst & Young provided tax due diligence.