BC Partners
| BC Partners | |
| Company type | Private limited company |
|---|---|
| Industry | Private equity |
| Predecessor | Baring Capital Investors |
| Founded | 1986 |
| Founder | Otto van der Wyck |
| Headquarters | London (Global) New York (U.S.) Paris Hamburg |
Key people | Raymond Svider (New York) Francesco Loredan (Europe) |
| Products | Private equity funds, Leveraged buyout |
| Total assets | $17 billion USD[1] |
Number of employees | ~50 |
| Website | www.bcpartners.com |
BC Partners is a private equity firm specialising in buyouts and acquisitions financing in Europe and the United States. The firm invests across all industries. BC Partners was founded in 1986 and is based in London, United Kingdom with additional offices in Paris, France; New York City; Milan and Hamburg.[2]
The firm competes for buyouts and investment opportunities with other large cap private equity firms including Blackstone Group, CVC Capital Partners, Advent International and The Carlyle Group.[3] 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.[4] In comparison to other large private equity practices, BC Partners is more efficiently staffed for the quantum of capital it manages. While investing in its $8.4 billion Fund VIII, the firm employs only ~50 investment professionals.[5] Competitors such as The Carlyle Group (890 professionals), Bain Capital (700+ professionals), TPG Capital, Permira and CVC Capital Partners employ hundreds of professionals.
BC Partners is majority shareholder of Intelsat, the global satellite services provider valued at $16.6 billion USD in its leveraged buyout in 2007—one of the largest private equity buyouts of all time. In 2008, BC Partners replaced Intelsat's chairman with Raymond Svider, BC's New York-based co-chairman.[6]
History
The firm, originally 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 was formed by Barings to advise funds providing development capital, in particular for management buyouts. The principals of Baring Capital Investors completed a spinout of what would become BC Partners following the collapse of Barings in 1995.[7] Van der Wyck left the firm in 2001 and has held senior roles with firms including Coller Capital climate change capital and AlpInvest Partners. BC is currently investing from its eighth private equity fund. The firm plans to start raising about €6 billion euros (~$8.4 billion USD) for leveraged buyouts in 2010.[8]
| Raised / Announced Fund | Vintage Year | Capital Committed / Target (USD) |
| BC Partners IX (Announced) | 2010 | $8.4 billion |
| BC Partners VIII | 2005 | $8.4 billion |
| BC Partners VII | 2001 | $5.4 billion |
| BC Partners VI | 1997 | $1.1 billion |
| BC Partners V | 1994 | $1.1 billion |
Significant Transactions Completed by BC Partners
BC Partners portfolio includes 17 companies with aggregate sales revenue of $35 billion USD (€28 billion). BC Partners can commit over $2.75 billion (€2.0 billion) of equity to any single transaction. The firm's most successful and profitable realised 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), and Galbani (market-leading cheese company).
| Year | Company Name | Description of BC Partners Transaction |
| 2010 | MultiPlan | $3.1 billion LBO of leading provider of health care cost management services |
| 2009 | Office Depot | Leading global provider of office products and services |
| 2008 | Migros Türk | Turkey's leading supermarket chain |
| 2008 | Intelsat | $16.6 billion acquisition of world's leading fixed satellite service provider |
| 2006 | Brenntag | Second largest LBO in Germany to date |
| 2006 | Regency Entertainment | Largest public-to-private LBO in Greece to date |
| 2005 | Amadeus IT Group | Largest LBO in Spain to date |
| 2004 | Picard | Largest LBO in France that year |
| 2003 | SEAT PG | Largest LBO in Europe at the time |
| 2002 | Hirslanden | Largest LBO in Switzerland that year |
| 2001 | Sanitec | Largest public to private LBO in Finland to date |
| 2000 | Mark IV | Largest LBO in the USA by a European sponsor at the time |
References
- ^ PRNewswire
- ^ BC Partners website
- ^ "Blackstone, BC Partners, CVC Mull Bids for Kabel Deutschland". Retrieved 2010-01-27.
- ^ "BC Partners ramping up for next fundraising".
- ^ "BC Partners - Team".
- ^ "Intelsat Chairman Resigns; Succeeded By BC Partners Exec". BN. Retrieved 2008-05-03.
- ^ Partners share BC success. eFinancialNews, November 9, 1998
- ^ Cauchi, Marietta (2010-01-15). "BC Partners Seeks to Raise €5.8 Billion". BN.
External links
- BC Partners (company website)
- "BC Partners to Start Raising $8.4 Billion This Year"
