BC Partners
 | This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral. (May 2012) |
| 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.) Milan 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][4] 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.[5] 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.[6] 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.[7]
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.[8] 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 9th private equity fund.
| Raised / Announced Fund | Vintage Year | Fund Size (USD) |
|---|---|---|
| BC Partners IX | 2012 | $8.6 billion[9] |
| 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 |
In June 2013, BC Partners agreed to buy German publisher Springer Science+Business Media for about 3.3 billion euros.[10]
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),Galbani (market-leading cheese company)and Phones4u (leading mobile phone provider in the UK - until its banruptcy September 2014)
| Year | Company Name | Description of BC Partners Transaction[11] |
|---|---|---|
| 2012 | Sullair Milton Roy Sundyne | $3.4 billion LBO of industrial business engaged in the design, manufacture and supply of specialist pumps and compressors[12] |
| 2012 | Suddenlink | $6.5 billion LBO of 7th largest cable communications system operator in the US[13] |
| 2011 | Phones4U | Bought for £700 million; entered in to administration on 15 September 2014[14][15] |
| 2011 | Com Hem | Largest LBO in Europe in 2011 |
| 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.
- ^ CVC Capital, BC Partners Ready Bid for Elior
- ^ "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
- ^ BC Partners Raises $8.6 Billion Fund, NY Times DealBook
- ^ Alexander Huebner, Claire Ruckin, Ludwig Burger and Christoph Steitz (19 June 2013). "BC Partners to buy Springer Science for 3.3 billion euros". Reuters.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ BC Partners, Current Investments
- ^ BC Partners, Carlyle Complete Hamilton Sundstrand Deal
- ^ Group Led by BC Partners to Buy U.S. Cable Operator for $6.6 Billion
- ^ http://news.sky.com/story/1335864/retailer-phones-4u-forced-into-administration
- ^ https://www.evernote.com/shard/s34/sh/884af390-4a7c-42b6-bc36-00ba6fbae518/a5808f5440f8fa66d13632727856ecbb
External links
- BC Partners (company website)
- "BC Partners to Start Raising $8.4 Billion This Year"
