The Carlyle Group Acquires Britax Childcare for £230 Million

U.K. - Global private equity firm The Carlyle Group today announces it has signed an agreement to acquire Britax Childcare, the leading manufacturer of premium branded children’s car safety seats, for £230 million from Britax International Group. The transaction is expected to close within six weeks.

Britax Childcare is headquartered in the UK with operations in North America, Australia, and Germany and has a team of nearly 900 employees. Britax Childcare has a strong portfolio of high end brands synonymous with quality and the highest standards of safety, including Britax, Römer and Safe n Sound. It has market leading expertise in vehicle occupant safety arising from its heritage in automotive components. In 2004, Britax Childcare generated revenues of approximately £120 million.

Britax Childcare is the foremost manufacturer and supplier in the premium segment of child car safety seats, accounting for around 40% of the German and UK markets, 60% of Australia and 13% of the US.

Glenn Youngkin, Managing Director, The Carlyle Group said, "Britax has an excellent position in a strong market. We have been very impressed with the company and its experienced management team, and look forward to working closely with the team to continue to build the business."

Andrew Stafford, head of Britax Childcare said, "The management of Britax Childcare are delighted that The Carlyle Group has acquired the business, and look forward to working closely with them to build on the success we have achieved over the last four years. We have been enormously impressed by their energy and professionalism, together with the enthusiasm they have shown for our vision for the future of the business. We believe that together we can deliver significant growth in the years ahead."

Alan Bowkett, Chairman of Britax International, said, "The Childcare division has been an excellent business for us and has developed strongly over the last few years. We intend to use the proceeds of the sale to reduce our debt and further develop the other parts of our business. We would like to thank the management team for all their efforts and wish them continued success in the future."

Carlyle will invest in this acquisition through its European buyout fund, Carlyle Europe Partners II. Other investments in the portfolio include HT Troplast, Saprogal, Avio SpA and AZ Electronic Materials.

The Carlyle Group was advised by Latham & Watkins, ERM and PWC.

Britax International was advised by KPMG Corporate Finance and Macfarlanes.

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