Ropes & Gray has advised Partners Group, a global private markets investment manager, on the sale of its minority equity stake in Action, a European non-food discount retailer.
The stake will be acquired by Hellman & Friedman, a leading private equity investment firm. Partners Group has held its position in Action, on behalf of its clients, since 2011. The transaction values Action at an enterprise value of €10.25 billion.
Established in 1993, Netherlands-headquartered Action operated 1,325 stores across seven countries and employed around 46,000 staff as of 2018. Its core product assortment includes decoration, DIY, garden and outdoor, household goods, multimedia, sports, stationery and hobby, toys and entertainment, food and drink, laundry and cleaning, personal care, pets, clothing and linen.
The Ropes & Gray team was led by private equity partner Kiran Sharma. Other members of the team included tax partner Andrew Howard and private equity associates Matthew Martindale and Victoria Srivastava, and asset management associate Lavanya Raghavan. All are based in the firm’s London office.