J.C. Flowers & Co.
 | |
| Company type | Private |
|---|---|
| Founded | 2001 |
| Founder | J. Christopher Flowers |
| Headquarters | , |
| Divisions | J.C. Flowers I L.P. and J.C. Flowers II L.P. |
| Website | http://www.jcfco.com |
JC Flowers & Company are a private-equity group, founded in 2001[1]. The firm is based in New York City, and run by billionaire[2] J. Christopher Flowers, a former Goldman Sachs partner.
JC Flowers & Co serves as advisor to two private equity funds, J.C. Flowers I L.P. and J.C. Flowers II L.P., which are both solely focused on the financial services sector. JC Flowers in Europe is led by the managing directors Renate Krümmer (CEO of the German Flowers office in Hamburg, responsible for German language area) and Ravi Sinha (CEO of the UK office in London, responsible for Rest of Europe) [3].
Investments
JC Flowers' investments include:
- Enstar Group
- Shinsei Bank
- NIBC Bank N.V.
- Hypo Real Estate Group (Germany) (24.9% offer)
- HSH Nordbank AG (Germany) (26.6%)
Company bidding
In mid 2007, an investor group led by JC Flowers signed an agreement to purchase Sallie Mae for approximately $25 billion (USD), giving JC Flowers and Friedman Fleischer & Lowe 50.2 percent of the company. This deal fell through, however[4].
In late 2007, JC Flowers were one of the many companies bidding for the troubled British Bank, Northern Rock[5]. They pulled out of the bidding in December[6].
On January 21, 2008, JC Flowers made an infomal bid of £4bn for Friends Provident[7]. A revised bid of £3.5 billion was rejected[8]
On March 14, 2008, JC Flowers was reported to be in talks to buy troubled US investment bank Bear Stearns[9].
On April 16, 2008, JC Flowers issued an offer to buy 24.9% of the shares of Hypo Real Estate Group at a price of €22.50 per share.[10].
References
- ^ "JC Flowers profile". BusinessWeek. Retrieved 2008-04-16.
- ^ "Billionaire list - J Christopher Flowers". Forbes. 2007-10-07. Retrieved 2008-04-16.
- ^ "FACTBOX-Key people in the battle for Northern Rock". Reuters. 2008-02-01. Retrieved 2008-04-16.
- ^ "Jobs lost at Sallie Mae, J.C. Penney". Times Leader. 2008-01-18. Retrieved 2008-04-16.
- ^ "JC Flowers reveals Northern Rock bid team". The Daily Telegraph. 2007-10-26. Retrieved 2008-04-16.
- ^ "JC Flowers seen exiting N. Rock race". Reuters. 2007-12-07. Retrieved 2008-04-16.
- ^ "JC Flowers in £4bn bid for troubled Friends Provident". The Times. 2008-01-21. Retrieved 2008-04-16.
- ^ "Friends Prov rejects new £3.5bn Flowers offer". The Times. 2008-03-31. Retrieved 2008-04-16.
- ^ "Bear Stearns Weekend Talks Reveal 2 Key Contenders". CNBC. 2008-03-14. Retrieved 2008-04-16.
- ^ "A group of investors coordinated by J.C. Flowers intends to submit a public offer to purchase around 24.9% of the shares of Hypo Real Estate Holding AG" (PDF). 2008-04-16. Retrieved 2008-04-16.
External links