Permira

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Permira
Type Limited liability partnership
Industry Private Equity
Founded 1985
Headquarters London, United Kingdom[1]
Products Leveraged Buyout
Employees 200
Website www.permira.com

Permira is a European private equity firm, founded in 1985. The firm advises funds with a total committed capital of approximately €20 billion. Since 1985 the Permira funds, raised from pension funds and other institutions, have made nearly 200 private equity investments.

Permira specialises in five sectors: Consumer, Financial Services, Healthcare, Industrials and TMT (Technology, Media, Telecommunications). There are currently 25 companies in the Permira funds’ portfolio and the firm comprises approximately 120 professionals.

The firm's teams are based in Frankfurt, Guernsey, Hong Kong, London, Luxembourg, Madrid, Menlo Park, Milan, New York, Paris, Stockholm and Tokyo. Permira is led by two co-managing partners Kurt Björklund and Tom Lister.

History[edit]

Permira was founded in 1985 by Nicholas Ferguson as a number of country-specific separate businesses operating under the Schroder Ventures brand. In 1996, the UK, French, German and Italian teams joined together to create Schroder Ventures Europe and in 1997 it raised its first pan-European fund. In 2001, the firm was renamed Permira. Permira opened an office in New York City in 2002, in Tokyo in 2005 and in Hong Kong in 2008. It also opened an office at Menlo Park in 2008.

Recent investments[edit]

  • 2014 - Acquisition of $200 million of the outstanding equity of LegalZoom.[2]
  • 2013 - Acquisition of R Griggs Group, parent of the Doc Martens brand for 300 million pounds or USD $485.7 million.[3]
  • 2012 – Acquisition of Intelligrated, automated material handling solutions, USA[4]
  • 2012 – Acquisition of Akindo Sushiro, sushi restaurant chain, Japan
  • 2012 – Acquisition of Genesys, customer service software solutions, USA[5]
  • 2011 – Acquisition of Netafim, smart drip and micro irrigation solutions, Israel[6]
  • 2011 – Acquisition of Renaissance Learning, education software and technology, USA[7]
  • 2011 – Acquisition of BakerCorp, liquid and solid containment, pump, filtration and trench storing solutions, USA
  • 2010 – Acquisition of Creganna-Tactx Medical, outsourced solutions to medical device manufacturers, Ireland
  • 2010 – Acquisition of Asia Broadcast Satellite], fixed satellite services, Hong-Kong
  • 2010 – Acquisition of Findus Italy, branded frozen food, Italy, by the Birds Eye iglo Group[8]
  • 2010 – Acquisition of eDreams, online travel agency, Spain, which was then merged with Go Voyages and Opodo to form OdigeO[9]
  • 2009 – Acquisition of Just Retirement, specialist financial services, UK[10]
  • 2009 - Majority stake in NDS Group; purchased with News Corporation[11]

Recent realisations[edit]

(full realisations only; does not include partial realisations)

  • 2012 – NDS, technology provider to video content owners and aggregators, UK[12]
  • 2011 – Provimi, animal nutrition, Netherlands[13]
  • 2010 – Cognis, speciality chemicals, Germany
  • 2008 - Jet Aviation, business aviation services, Switzerland
  • 2008 – debitel, mobile telephone services, Germany
  • 2008 – Intelsat, fixed satellite services, USA
  • 2007 - Aearo Technologies, personal protection equipment, USA

Current investments[edit]

The firm is invested in the following companies:

  • Acromas, AA, roadside assistance, and Saga, financial services to people aged over 50, UK - €9,685m
  • Akindo Sushiro, sushi restaurant chain, Japan - €800m[14]
  • All3Media, TV production, UK - €531m
  • Arysta LifeScience, agrochemicals and pharmaceuticals, Japan - €1,948m
  • Asia Broadcast Satellite, fixed satellite services, Hong-Kong - c.€180m
  • BakerCorp, liquid and solid containment, pump, filtration and trench storing solutions, USA - €714m
  • Cortefiel, clothing retailer, Spain - €1,802m
  • Creganna Tactx-Medical, outsourced solutions to medical device manufacturers, Ireland - €220m
  • Freescale Semiconductor, design and manufacture of embedded semiconductors, USA - €12,604m
  • Galaxy Entertainment, casino and hotel operator, Greater China - €593m
  • Genesys, customer service software solutions, USA - €1,237m[5]
  • Hugo Boss & Valentino, fashion and luxury goods, Germany / Italy - €5,343m[15]
  • iglo Group, branded frozen food, UK - €1,891m[8]
  • Intelligrated, automated material handling solutions, USA - €443m[4]
  • Just Retirement, specialist financial services, UK - €298m[10]
  • Marazzi design, manufacturing and distribution of ceramic tiles, Italy - €1,387m
  • Maxeda, DIY retailer, Netherlands - €2,517m
  • Netafim, smart drip and micro irrigation solutions, Israel, €800m[6]
  • New Look, high-street apparel retailer, UK - €1,187m
  • OdigeO, online travel agency, Spain / France - €1048m+
  • ProSiebenSat.1, broadcasting group, Germany - €6,786m
  • Renaissance Learning, education software and technology, USA - €328m[7]
  • Sisal, gaming operator, Italy - €1,348m
  • TDC communications solutions, Denmark - €13,400m
  • Telepizza home delivery and take away pizza, Spain - €962m

Investors[edit]

Permira's fund Permira IV has over 180 institutional investors including:

  • Over 30 million pension fund beneficiaries
  • Over 40 charities
  • Over 20 life insurance companies
  • Eight governmental development agencies

The Social Business Trust[edit]

Permira is a founding partner of Social Business Trust (SBT), a social enterprise fund. Since launching in December 2010, SBT has made five investments - Women Like Us, The Challenge Network, Moneyline, the London Early Years Foundation and the Inspiring Futures Foundation. SBT is a partnership of six leading global companies (Bain & Co, Clifford Chance, Credit Suisse, Ernst & Young, Permira and Thomson-Reuters) dedicated to transforming social enterprises by providing £10m of growth capital and skilled support.

References[edit]

  1. ^ "Permira: Overview". LinkedIn. Retrieved 31 March 2013. 
  2. ^ "Permira Acquires $200 Million of LegalZoom Equity". BusinessWire. Retrieved 10 March 2014. 
  3. ^ Neel, Julia (October 24, 2013). "Permira Acquires Dr. Martens". WWD. Retrieved 24 October 2013. 
  4. ^ a b Permira to Buy Equipment Maker Intelligrated for $500 Million
  5. ^ a b Alcatel-Lucent sells Genesys for $1.5bn Financial Times, 19 October 2011
  6. ^ a b Permira to buy up to 61% of Israel's Netafim Reuters, 22 September 2011
  7. ^ a b Renaissance accepts improved Permira bid, snubs Plato Learning Reuters, 27 September 2011
  8. ^ a b Fish fingers and a boss's 'sweat money' help keep Captain Birdseye sailing Mail on Sunday, 6 August 2011
  9. ^ Opodo-eDreams-GoVoyages lauded as new European agency powerhouse Tnooz, 3 July 2011
  10. ^ a b "Just Retirement valued at $1.8 bln in London share listing". Reuters. 12 November 2013. Retrieved 8 March 2014. 
  11. ^ Dan Sabbagh, Investigation will have made interesting viewing for Ofcom's News Corp team, Guardian, 26 March 2012.
  12. ^ News Corp and Permira sell NDS to Cisco for $5bn Guardian, 16 March 2012
  13. ^ Cargill in €1.5bn deal for Provimi Financial Times, 15 August 2011
  14. ^ Permira buying Japan sushi restaurant chain in $1 billion deal
  15. ^ Hugo Boss defies the gloom City AM, 3 November 2011

External links[edit]

Official site: www.permira.com Social Business Trust: www.socialbusinesstrust.org