Cinven

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Cinven
Private
Industry Private Equity
Founded 1977; 40 years ago (1977)
Headquarters London, United Kingdom
Key people
Stuart McAlpine, Managing Partner
Products Private Equity
Website www.cinven.com

Cinven is a global private equity firm founded in 1977 with offices in 9 international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and US-based corporations, and emerging market firms that fit with their core businesses, and necessitate a minimum equity investment of €100 million or more.[1] In 2015, it had €10.6 billion in assets under management.[2]

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.[3] Cinven has been reported to originally stand for Coal Investment Nominees' for Venture Capital.[4]

Cinven invests in six sectors on an international basis: Business Services; Technology, Media and Telecommunications; Financial Services; Industrials; Healthcare; and Consumer.

Investments[edit]

Cinven is a 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).[5] 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.[6]
  • SLV – acquired in April 2011, SLV is a provider of residential and technical lighting products
  • Partnership Assurance – acquired in 2008[7]
  • Sebia – acquired in June 2010
  • CPA Global – acquired in March 2012
  • AMCo – Created from Amdipharm and Mercury Pharma bought in 2012, merged, built up and sold to Canada's Concordia Healthcare in September 2015 for $3.4 billion in cash and shares.[8]
  • CeramTec Group – acquired in June 2013[9]
  • Host Europe Group – acquired in July 2013, Cinven agreed to purchase this web hosting firm for around $666 million.[10]
  • Medpace – In February 2014, Cinven agreed to acquire the pharmaceutical contract research organisation from CCMP Capital for around $900 million.[11]
  • Northgate Public Services – In December 2014, Cinven agreed to acquire the public services division of Northgate Information Solutions for an undisclosed amount.[12]
  • Premium Credit - In January 2015, Cinven acquired Premium Credit, the UK's biggest premium financing company. [13]
  • Labco – In May 2015, Cinven agreed to acquire this operator of medical diagnostics laboratories for €1.2 billion.[14]
  • Synlab Group acquired in June 2015 for €1.7-1.8 billion. [15]
  • Kurt Geiger - In December 2015, Cinven acquired UK-based fashion retailer Kurt Geiger from Sycamore Partners for £245 million.[16]
  • Stada Arzneimittel - In August 2017, Cinven acquired German company Stada Arzneimittel.[17]

References[edit]

  1. ^ Cinven, About us, Cinven website, retrieved April 2, 2016
  2. ^ Cinven Annual Review 2015, Cinven website, retrieved April 17, 2017
  3. ^ The fourth Cinven fund completes fundraising at $6.5 billion, Cinven press release,30 June 2006
  4. ^ Cinven looks to rejoin industry's top league. Dow Jones Financial News, September 8, 2008
  5. ^ BUPA agrees hospitals sale, BUPA press release, 18 June 2007
  6. ^ byronhamburgers.com
  7. ^ "Cinven to kick-start £750m Partnership Assurance sale". The Telegraph. 17 September 2011. Retrieved 13 September 2013. 
  8. ^ Cinven to sell AMCo to Concordia Healthcare Corp, Private Equity Wire, St Helier Jersey, 8 September 2015.Retrieved: 19 September 2015.
  9. ^ The New York Times Dealbook: Cinven to Buy CeramTec for $2 Billion. By Mark Scott, 2013-06-16
  10. ^ Reuters (19 July 2013). "Deals of the day -- mergers and acquisitions". Reuters. 
  11. ^ "Cinven to acquire Medpace in $900 million deal". Reuters. 23 Feb 2014. Retrieved 24 Feb 2014. 
  12. ^ "Northgate Information Solutions sells Public Services division to Cinven". Yahoo! Finance. 22 Dec 2014. Retrieved 22 Dec 2014. 
  13. ^ Cinven strikes a £460m deal for Premium Credit
  14. ^ Berry, Freya (28 May 2015). "Buyout group Cinven to buy France's Labco for $1.3 bln". Reuters. 
  15. ^ "Cinven buys lab chain Synlab for $1.9-2.0 billion". Reuters. 25 June 2015. Retrieved 29 October 2016. 
  16. ^ Grandhi, K (2015-12-14). "Footwear retailer Kurt Geiger acquired by Cinven from Sycamore Partners". International Business Times. Retrieved 2016-06-21. 
  17. ^ Bain Capital und Cinven gelingt Kauf von Stada (German)

External links[edit]