CVC Capital Partners €1.5 billion acquisition of Linxens

Overview:

• CVC Capital Partners has completed the acquisition of smart card connector business Linxens from European fund Astorg for €1.5 billion. 
• The deal was the second largest LBO on the French market in 2015. 
• The company operates in France, China, Singapore and Thailand, and reported an annual turnover of €253 million in 2014. 
• Financing for the acquisition took the form of a first and second lien cove-lite US term loan, the first of its kind since the financial crash. 

John Crabb - Journalist