BC_Partners

BC Partners

BC Partners

Private equity firm


BC Partners is a British[5] international investment firm with over $40 billion of assets under management across private equity, credit and real estate in Europe and North America.[4] Its global headquarters are in London. The firm invests across all industries. BC Partners was founded in 1986 and has offices in New York, Paris and Hamburg.[6] Since inception, BC Partners has completed 113 private equity investments in companies with a total enterprise value of €145 billion.[7]

Quick Facts Company type, Industry ...

As one of the largest European private equity firms, BC Partners competes for buyouts and investment opportunities with other large cap private equity firms including Blackstone Group, KKR, CVC Capital Partners, Advent International and The Carlyle Group.[8][9] The firm raised its eighth fund in 2005, which at the time made it the largest European buyout fund. Raised in less than five months, the fund was heavily oversubscribed. Investors in previous funds supplied 90% of the capital.[10] The firm's most recent fund, BC Partners X, was one of the largest buyout funds raised in 2018.[11] Despite its large size, the firm is known for its operational efficiency, boasting an incredibly high amount of assets under management per investment professional.

BC Partners was until recently majority shareholder of Intelsat, the global satellite services provider valued at US$16.6 billion in its leveraged buyout in 2007—one of the largest private equity buyouts of all time led by a consortium of investors including BC Partners and Silver Lake Partners. In 2008, BC Partners replaced Intelsat's chairman with Raymond Svider, BC's New York–based co-chairman.[12] Sometime between 2008 and 2018, BC Partners sold all of Intelsat to the company.

History

The firm, founded in 1986 as Baring Capital Investors Ltd. by Otto van der Wyck, who was also a co-founder of CVC Capital Partners. Originally, BC Partners was formed by Barings to advise funds providing development capital, in particular for management buyouts. John Burgess joined him from Candover, the US and UK buyout house, a month after.[13] The principals of Baring Capital Investors completed a spinout of what would become BC Partners following the collapse of Barings in 1995.[14] Van der Wyck left the firm in 2001, and has held senior roles with firms including Coller Capital, Climate Change Capital and AlpInvest Partners.

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Significant transactions

Washington D.C. headquarters of BC Partners-owned satellite operator Intelsat
One of BC Partners-owned Migros Türk retail stores. The company is Turkey's leading supermarket chain.

As of December 31, 2019, BC Partners portfolio includes 114 companies with aggregate sales revenue of €145 billion.[19] BC Partners can commit over $2.75 billion (€2.0 billion) of equity to any single transaction. The firm's most successful and profitable realized investments include General Healthcare (leading acute care hospital provider and independent provider of psychiatric care), C&C Group plc (leading seller of alcoholic and non-alcoholic beverages), Galbani (market-leading cheese company) and Phones 4u (leading mobile phone provider in the UK - until its bankruptcy in September 2014).

In June 2013, BC Partners agreed to buy German publisher Springer Science+Business Media for about 3.3 billion euros.[20]

BC Partners revealed in January 2015 that it would sell its 40.25 percent stake in its supermarket chain Migros Türk to the Turkish conglomerate Anadolu Endustri Holding AS for around $2.74 billion.[21]

In June 2019 Chewy, which was acquired by BC Partners in 2017, and is the online pet retailer division of PetSmart, announced its IPO on the NYSE when it was valued at $8.8 billion.[22]

In 2019, BC Partners announced their backing for the acquisition[23] (via the United Group) of Vivacom, the largest Bulgarian telecom. The acquisition became an issue of the media and legal dispute with the company's previous owner, Empreno Ventures, which asked BC Partners[24] to wait until judicial resolution.

On November 7, BC Partners was added to a lawsuit by Empreno seeking to ban the sale of Vivacom.[25]

In early 2021, the firm entered into talks with Inter Milan owner Suning about potentially buying the football club.[26]

More information Year, Company Name ...

References

  1. "BC Partners-Raymond Svider". Retrieved 20 May 2020.
  2. "BC Partners-Nikos Stathopoulos". Retrieved 20 May 2020.
  3. "BC partners: Legal". Retrieved 13 August 2022.
  4. "Contact Us". BC Partners.
  5. "Portfolio". BC Partners. 30 June 2019. Retrieved 20 May 2020.
  6. "Intelsat Chairman Resigns; Succeeded By BC Partners Exec". BN. Archived from the original on 2011-07-08. Retrieved 2008-05-03.
  7. Meikle, Brad (2000-10-01). "Deploying Europe's biggest buyout fund". Buyouts. Retrieved 2020-05-31.
  8. Smith, Elliot (26 February 2020). "The Barings collapse 25 years on: What the industry learned after one man broke a bank". CNBC. Retrieved 16 June 2020.
  9. "BC Partners Closes BC European Capital X at €7 Billion Target". LegalMonitor. 22 January 2018. Retrieved 16 June 2020.
  10. "UPDATE 1-BC Partners writes fund back up to par-source". Reuters. 27 July 2009. Retrieved 25 June 2020.
  11. "BC Partners closes record fund". PEI. 21 July 2005. Retrieved 25 June 2020.
  12. "BC Partners | Private Equity Investments". BC Partners. Retrieved 2020-06-21.
  13. Alexander Huebner; Claire Ruckin; Ludwig Burger; Christoph Steitz (19 June 2013). "BC Partners to buy Springer Science for 3.3 billion euros". Reuters.
  14. Hirsch, Lauren; Lucas, Amelia (2019-06-14). "Chewy, PetSmart's online business, soars as much 86% after IPO pricing at $22 per share". CNBC. Retrieved 2020-06-30.
  15. "Bulgarian telecoms group Vivacom eyed in buyout battle". Financial Times. 29 September 2019. Retrieved 2019-10-27.
  16. "UPDATE 1-United Group to buy Bulgaria's Vivacom in $1.3 bln deal". finance.yahoo.com. 7 November 2019. Retrieved 2019-11-29.
  17. "BC Partners, Current Investments". Archived from the original on February 18, 2013.
  18. Farr, Emma-Victoria (2022-06-23). "BC Partners acquires Havea for $1.16 bln -source". Reuters. Retrieved 2022-07-18.
  19. "KKR prodao većinski udeo Junajted grupe, SBB ima novog suvlasnika". b92.net (in Serbian). Beta. 27 September 2018. Retrieved 3 October 2018.
  20. Aycock, Jason (2016-11-04). "CenturyLink has deal to sell data centers for near $2.3B". Seeking Alpha. Retrieved 2016-12-19.
  21. "BC Partners signs deal to buy Keter Plastic". Globes (in Hebrew). 2016-07-28. Retrieved 2020-07-20.
  22. "Elysium". 2016-07-28. Retrieved 2021-05-20.
  23. Ruckin, Claire (March 24, 2014). "RLPC-BC Partners to buy majority stake in CarTrawler". Reuters. Archived from the original on August 31, 2017. Retrieved 2017-08-31.
  24. "BC Partners to acquire PetSmart for $8.7 billion" (Press release). Reuters. 14 December 2014.
  25. Chassany, Anne-Sylvaine; Mance, Henry (November 29, 2013). "Pearson agrees to sell Mergermarket unit to BC Partners". Financial Times.
  26. Scott, Mark, and Emily Steel, "Altice's Deal to Buy Suddenlink May Be Prelude to Pursuit of Time Warner Cable", New York Times, May 20, 2015. Retrieved 2015-05-21.
  27. "Exclusive: BC Partners to buy Com Hem in $2.6 billion deal". Reuters. 2011-07-21. Retrieved 2023-10-30.
  28. Blackhurst, Chris (15 September 2012). "What Foxtons founder Jon Hunt did next..." Evening Standard. Hunt...sold the estate agencies chain for £370 million just weeks before the credit crunch hit and the property market slumped...His timing was brilliant.
  29. "Foxtons taken over by banks". The Daily Telegraph. London. 2010-01-08. Retrieved 14 June 2015.

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