Cinven

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Cinven
Type Private
Industry Private Equity
Founded 1977
Headquarters London, United Kingdom
Key people Hugh Langmuir, Managing Partner
Products Private Equity
Website www.cinven.com

Cinven is a European private equity firm founded in 1977 with offices in Guernsey, London, Paris, Frankfurt, Milan, Luxembourg and Hong Kong.

Currently, the company has raised five funds, with the last one signing up 5 billion euros. Cinven is solely focused on European acquisitions and buyouts, with investment coming from over 111 institutional investors from 22 countries.

Cinven’s funding base originally came solely from three UK pension funds (British Coal, the Railway Industry and Barclays Bank) who remain as important investors.[1] Cinven has been reported to originally stand for Coal Investment Nominees' for Venture Capital.[2]

Cinven invests in six sectors on an international basis: Business Services; Consumer; Financial Services; Healthcare; Industrials; and TMT.

Investments[edit]

Cinven is a European private equity firm based in London. Some of the recent acquisitions include:

  • Avio – In 2006, Cinven purchased Avio from Carlyle and Finmeccanica for an enterprise value of $2.6 billion.
  • Spire Healthcare (previously BUPA Hospitals) – In June 2007, BUPA announced that it had agreed to sell its hospitals business, comprising 25 hospitals, to Cinven for $1.44 billion ($2.8 billion/$2.13 billion).[3] Spire has since acquired the Classics Hospital Group for GBP 145 million, as well as a single site hospital in Gerrards Cross, England.
  • Gondola Holdings – acquired in 2007 for $1.36 billion, Gondola is the market leader in the UK casual dining sector, with brands such as PizzaExpress, ASK, Zizzi and BYRON.[4]
  • SLV – acquired in April 2011, SLV is a provider of residential and technical lighting products
  • Partnership Assurance – acquired in 2008[5]
  • Sebia – acquired in June 2010
  • CPA Global – acquired in March 2012
  • AMCo – acquired in August/October 2012
  • CeramTec Group – acquired in June 2013[6]
  • Host Europe Group – acquired in July 2013, Cinven agreed to purchase this web hosting firm for around $666 million.[7]
  • Medpace – In February 2014, Cinven agreed to acquire the pharmaceutical contract research organisation from CCMP Capital for around $900 million.[8]
  • Northgate Public Services – In December 2014, Cinven agreed to acquire the public services division of Northgate Information Solutions for an undisclosed amount.[9]

References[edit]

  1. ^ The fourth Cinven fund completes fundraising at $6.5 billion, Cinven press release,30 June 2006
  2. ^ Cinven looks to rejoin industry's top league. Dow Jones Financial News, September 8, 2008
  3. ^ BUPA agrees hospitals sale, BUPA press release, 18 June 2007
  4. ^ byronhamburgers.com
  5. ^ "Cinven to kick-start £750m Partnership Assurance sale". The Telegraph. 17 September 2011. Retrieved 13 September 2013. 
  6. ^ The New York Times Dealbook: Cinven to Buy CeramTec for $2 Billion. By Mark Scott, 2013-06-16
  7. ^ Reuters (19 July 2013). "Deals of the day -- mergers and acquisitions". Reuters. 
  8. ^ "Cinven to acquire Medpace in $900 million deal". Reuters. 23 Feb 2014. Retrieved 24 Feb 2014. 
  9. ^ "Northgate Information Solutions sells Public Services division to Cinven". Yahoo! Finance. 22 Dec 2014. Retrieved 22 Dec 2014. 

External links[edit]