BC Partners LLP

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BC Partners is a UK-based private equity firm specialising in buyouts and acquisitions financing in Europe and the USA, across all industries. It is based in London with additional offices in New York City, Paris and Hamburg.

Origins: in Oct.1986, Baring Capital Investors Ltd ("BCI Ltd") was formed by Barings Bank to act as an investment advisor to the managers of offshore funds for investment in principally unquoted companies. Otto van der Wyck (who also co-founded CVC Capital Partners) and John Burgess were both directors of the company.[1]

In Feb.1995, Barings Bank collapsed,[2] and in Mar.1995, Internationale Nederlanden Groep NV (ING Groep NV) acquired the majority of Barings' companies, including BCI Ltd.
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In Nov.1995, BC Partners Holdings Ltd,OpenCorporates-sm.svg newly-registered in Guernsey, and owned by BCI Ltd's principals, acquired the firm from ING Groep; BCI Ltd was renamed as BC Partners Ltd.

Corporate Grouping

ToDo: CH
  • "BC Partners" = BC Partners LLP, CIE II, CIE IX, BCEC Management X Ltd and certain other affiliated companies (including BC Partners Sarl, BC Partners GmbH and BC Partners Inc who act as sub-advisors of BC Partners LLP).
  • BC Partners LLP acts as adviser to CIE Management II Ltd, CIE Management IX Ltd, and BCEC Management X Ltd. These are limited companies incorporated in Guernsey.
  • CIE II acts as Manager and General Partner to the BC European Capital VII, BC European Capital VII Top up and BC European Capital VIII Funds. CIE IX acts as Manager and General Partner to the BC European Capital IX Fund. BCEC Management X Limited acts as Manager and General Partner to the BC European Capital X Fund.
  • BCEC X Luxembourg 1 SCSp
  • BC Partners Foundation, a charity registered in the UK since 2010 (regno.1136956),ref

Portfolio Companies

Current

  • Aug.2019: The Leveraged Buyout Industry Is Starting to Eat Itself. Why is Blackstone Group LP, a giant of USA private equity, taking a stake in BC Partners, a smaller European rival? Chris Hughes, Bloomberg, Aug.06.2019.
  • Aug.2019–: Presidio. todo
  • Mar.2019: United Group bought from KKR. ref
  • Aug.2015: Advanced Computer Software Group, a cloud migration services operations. A 50% stake was acquired from Vista Equity Partners.ref,ref
  • 2018–: VetPartners, operator of small animal, mixed and equine veterinary practices. todo Website
  • Apr.2018–: GFL (Green for Life) Environmental Inc, comprised of Liquid Waste Division (East & West), Solid Waste Haulage Division, Solid Waste Transfer Division, and GFL Excavating Corp gflenv.com Webpage.arch > Webpage todo
  • Oct.2017–: CeramTec GmbH, an international manufacturer and supplier of technical ceramics, was acquired from Cinven Group Ltd.[3] CeramTec's portfolio has 10,000+ different products, components and parts, made of a variety of engineered ceramic materials. The products are used in a wide range of applications. With a tradition of more than 100 years, more than 3,400 employees are worldwide active at production sites in Europe, USA and Asia. todo CeramTec.comArchive-org-sm.svg > CeramTec.co.uk. ref Consortium of PSP Investments (Canada's Public Sector Pension Investment Board,ref), Ontario Teachers' Pension Plan, BC Partners, CeramTec management.ref
  • May.2017–: DentalPro acquired. todo, todo
  • Nov.2016–: Centurylink. todo, todo
  • 2016–:
    Elysium-Healthcare.svg
    Elysium Healthcare Ltd, mental healthcare facilities. OpenCorporates-sm.svg, ElysiumHealthcare.co.ukArchive-org-sm.svg, ElysiumHealthcare.co.uk
    • Oct.08.2020: Buyout firm hires bankers to check out from former Priory clinics. Elysium Healthcare, one of Britain's biggest privately-owned providers of specialist mental health services, is to be put up for sale 4 years after it was created through a buyout from the Priory Group. The company was formed in 2016 from the acquisition of 22 Priory and Partnerships in Care hospitals. Private equity firm BC Partners has appointed bankers at JP Morgan to run an auction of Elysium Healthcare. Mark Kleinman, Sky News, Oct.08.2020.
    • Dec.2016: Elysium Healthcare Ltd, a carve-out created by private equity firm BC Partners,[4] took over 10 sites (incl. Wellesley Hospital) from Partnerships in Care Ltd, which became part of the new company.[5] Elysium Healthcare also took over 12 sites from the Priory Group, creating a 22-site group.[6]
  • 2014-??: Cartrawler, which powers car rental partnerships for online travel brands and car rental companies all over the world. Fast growing online car rental aggregator with a unique online technology and booking platform that connects more than 1,000 car rental suppliers with end consumers and operates from more than 30,000 locations across the globe. todo CarTrawler.comArchive-org-sm.svg todo

Acuris

Acuris-2017.svg
  • May.2019:
    Ion-Investment-Group-2019.svgDeals-All-Change.svg
    Flag-Tax-Haven-v2.svg
    BC Partners announced the sale of a controlling stake in Acuris to privately-owned, Ireland-headquartered ION Investment Group,OC todo, todo,todo itself owned by Luxembourg-registered ITT Sarl,OC from BC Partners and GIC Private Ltd.ref. BC Partners and Acuris management are reinvesting and will retain minority ownership.ref Acuris Bidco Ltd, Ion Group, Acuris Products
    • Jul.2017: Acuris: Mergermarket Group was rebranded.ref,ref
    • Jul.2017:
      Flag-Singapore.svg
      BC Partners sold a stake of 31% to Singapore sovereign wealth fund GIC Private Ltd.ref,ref,ref
    • Nov.2013:
      BC-Partners-2019.svgDeals-All-Change.svg
      Pearson plc agreed to sell Mergermarket to private equity firm BC Partners.ref The transaction was concluded in Feb.2014.ref
    • May.2012: Mergermarket Group: the company was rebranded. MergermarketGroup.comArchive-org-sm.svg
    • Aug.2006:
      Pearson-horiz.svgDeals-All-Change.svg
      Mergermarket Ltd was acquired by the Financial Times Group, then a division of Pearson plc.ref,ref
    • Dec.1999:
      Acuris-Mergermarket-1999.svg
      Mergermarket LtdOpenCorporates-sm.svg was established by Caspar Hobbs, Charlie Welsh and Gawn Rowan Hamilton, to provide specialist news, research, analysis and data on financial markets. MergerMarket.comArchive-org-sm.svg
  • Jun.2015–: Pharmathen SA, a life science company, acquired. todo
  • 2015-??: Côte Restaurants, casual dining format. todo Cote-Restaurants.co.ukArchive-org-sm.svg
  • 2014-??: Mergermarket Group, global financial information provider, specialising in financial news and intelligence for subscribers. MergermarketGroup.comArchive-org-sm.svg
  • 2013-??: Springer Nature, delivers high quality academic and professional media content through its innovative products and services across several platforms. Springer.comArchive-org-sm.svg
  • 2013-??: Allflex, animal identification, supplyies electronic and visual ear tags, RFID implants and other agricultural supplies for livestock, pets, fish and other species. Allflex-Group.com, Allflex.co.uk
  • 2012–: Accudyne Industries Inc, a manufacturer of specialist pumps and compressors. AccudyneIndustries.com
  • 2008-??: Intelsat, fixed satellite services. Intelsat.comArchive-org-sm.svg todo

Historical

  • ?date?: Gruppo Coin, an Italian clothing retailer.
  • Oct.2015– Altice USA (formally, "Neptune Holding US Corporation"), the USA unit of Amsterdam-listed broadband giant Altice NV. One of the largest broadband communications and video services providers in the USA, delivering broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content and advertising services. AlticeUSA.com todo
  • Dec.2014–Jun.2019: Teneo, a New York-based corporate advisory firm. Acquired by CVC Capital Partners.ref,todo, todo, todo, todo TeneoHoldings.comArchive-org-sm.svg, Teneo.com
  • Dec.2014–: PetSmart Inc, a Phoenix-based retailer. ref,todo, todo, todo
  • Sept.2013–Sept.2018:
    Sabre-Insurance-2019.svg
    Sabre Insurance Group plc, a niche speciality motor insurer, selling primarily through brokers, but also directly to the public through the Insure 2 Drive, Go Girl and Drive Smart brands. In 1996, Sabre was acquired by General Accident plc; following a takeover by Commercial Union plc, itself taken over by Norwich Union plc, Sabre was sold to BDML Group Ltd in Feb.2002, an independent insurance company. In 2005, BDML Group Ltd changed its name to Binomial Group Ltd,[7] in which BC Partners acquired a majority shareholding in Sept.2013.[8] In Dec.2017, Sabre completed an IPO on the London Stock Exchange.[9] BC Partners exited its investment in Sept.2018. Sabre.co.ukArchive-org-sm.svg, Sabre.co.uk, Sabreplc.co.uk
  • Nov.2012–May.2015: Suddenlink Communications (formerly Cebridge Connections), is a telecommunications provider of cable broadband services in the USA. The 9th largest provider in the USA. The company offers television services such as TiVo, Pay-Per-View, video on demand, and mobile TV apps. Additionally, it offers a home security system that provides real-time personal texts, email alerts, and online video monitoring. Acquired in May.2015 by Altice SA. Suddenlink.com
  • ?date?: Galbani, an Italian cheese and salami producer, was acquired from French food giant Danone SA. ref WebsiteArchive-org-sm.svg
  • Jul.2012–: Hamilton Sundstrand Industrial acquired from United Technologies by the Carlyle Group and BC Partners. todo
  • Mar.2011-Sept.2014: Phones4U, a mobile phone sales channel and insurance provider, was acquired from Providence Equity Partners LLC and Doughty Hanson & Co.[10] In 2013, the Lifestyle Services Group division was sold. In 2014, after BC Partners paid itself a £223m "special dividend", Phones4U went into administration with crippling debt on its balance sheet, and 5,500 jobs lost.[11] Phones4u.co.ukArchive-org-sm.svg, Phones4uWikipedia-W.svg todo
  • Jul.2010–: Multiplan, a healthcare company, was purchased by BC Partners and Silver Lake Partners from the Carlyle Group.todo, todo, todo, todo
  • Feb.2010-May.2015:
    Spotless-Group.png
    Spotless Group SAS, manufacturer of branded laundry care, insecticides and household care products in Europe, was acquired from AXA Private Equity.ref Sold to Henkel AG.
  • Nov.2009–: ATI Enterprises. ref
  • Sept.2009-Aug.2015:
    Synlab-1998.svg
    Synlab Holding GmbH, European provider of laboratory diagnostics services. synlab.deArchive-org-sm.svg, Synlab.comArchive-org-sm.svg In Sept.2009, BC Partners took a 40% stake in Synlab GmbH of Augsburg, Germany, as well as acquiring Vienna-based FutureLAB. Both labs analyse medical, veterinary and environmental samples in a range of countries.[12] In 2010, BC Partners merged Synlab with FutureLab GmbH (Wien) and Fleminglabs Srl (Brescia), becoming Synlab's majority owner (70%), with management owning the rest. Add-ons: ~60 acquisitions were made. In Jun.2015, BC Partners sold its 70% stake in Synlab to Cinven Group Ltd.[13]
  • Jun.2009–: Office Depot, a supplier of office products and services.ref OfficeDepot.com
  • 2008: Migros Turk TAS, a supermarket chain, was purchased from ??. In 2015, a 40.25% stake was sold to Turkish conglomerate Anadolu Endustri Holding AS.ref todo. todo
  • 2007-2010: Foxtons, London's leading estate agent and independent mortgage broker. Website.arch
  • 2005-2012: Fitness First, fitness company with more than 1.1m members in 15 countries. Website.arch
  • 2006: Brenntag. todo
  • 2006: Regency Entertainment, a Greek casino operator, was acquired from ??. In May.2011, a debt-for-equity swap w/lenders, including Deutsche Bank and Park Square Capital.ref todo
  • Mar.2004–: BDR Thermea Group, a manufacturer and distributor of smart climate and sanitary hot water solutions. Acquired by Remeha Group BV, a manufacturer and distributor of thermal technology products to domestic and commercial markets, in Sept.2011.ref BDRThermeaGroup.com
  • 2004-2011: Baxi Group / BDR Thermea, a heating products company.Baxi.arch, Baxi-Group.arch
  • 2003-2010: UnityMedia, the 2nd largest cable company in Germany. Level 4 German cable television provider. Now owned by Liberty Global plc. Webpage
  • 2001-2005: Sanitec. Bathroom ceramics and bath and shower products.
  • 2000-2006: General Healthcare Group, the largest private acute care hospital in the UK. Website.arch
  • 1999-2004: C&C Group plc emerged from the Cantrell & Cochrane Group acquisition.Website.arch
  • 1999-2004: Cantrell & Cochrane Group Ltd, an Irish alcoholic and non-alcoholic beverage business, was acquired from Allied Domecq plc. Beverage manufacture and distribution, wholesale. CantrellAndCochrane.comArchive-org-sm.svg
  • 1998-2003: Aviagen Inc,[1] a poultry genetics group.[2][3] Aviagen.comArchive-org-sm.svg, Aviagen.com, AviagenTurkeys.com
    • Apr.2005: Erich Wesjohann Group (DDG) bought Aviagen Group Ltd.
    • May.2003: Advent International Corporation bought Aviagen Group Ltd from BC Partners.[4]
    • Jul.2001: Aviagen Ltd: Ross Breeders Ltd changed its name.[5]
    •  ??.1999: the Aviagen Group Ltd was formed, combining the Ross and Arbor Acres brands.[6]
    •  ??.1999: Arbor Acres and Nicholas Turkeys were acquired by Ross Group from Booker plc.[7]
    • Jun.1999: Booker plc sold its Arbor Acres poultry breeding business to BC Partners.[8]
    • Dec.1998: Ross Breeders acquired by BC Partners from Hillsdown Holdings plc.[9]
    • 1994: BC Partners bought the business from Netreco.[10]
    • Feb.1964: Buxted Chicken, the UK's first battery cage chicken farm, battle for control, with Nitrovit winning.[11]
    • 1962: Chunky Chicks became part of the Ross Group.[12]
    • 1956: Chunky Chicks (Nichols) business in Ingliston, Edinburgh, was founded.[13]
  • 1998-2003: Hurst Publishing, a leading publisher of classified advertising publications, including Auto Trader, acquired from its founders. Trader Media Group. Website.arch Sold a chunk of the group to The Guardian in 2003.ref
  • 1996-2000: Pubmaster acquired, an independent operator of pubs in the UK.
  • 1993-1996: Streamline Holdings, road markings and building products. See Jarvis plcWikipedia-W.svg.
  • 1993-1994: MDIS, now known as "Northgate Information Solutions".
  • 1991-1993: Devro, collagen sausage casings.
  • 1989-1996: Video Arts, a management training videos & services.
  • 1988-1996: Argus, a publisher.
  • 1987-1996: Computacenter, a micro-computer system supplier.
Sources: Investment Portfolio. BC Partners LLP. Original archived on 2000-2018.All Investments. BC Partners.. Accessed Oct.25.2020.
ToDo: https://www.bcpartners.com/private-equity-strategy/portfolio/all-investments BC Partners Portfolio], Crunchbase

References

  1. ^ Baring Capital Investors Ltd. Report & Acounts for the Year ended 31st December 1994. Companies House, Dec.31.1994.
  2. ^ The Barings collapse 25 years on: What the industry learned after one man broke a bank. Elliot Smith, CNBC, Feb.26.2020.
  3. ^ CeramTec announces its acquisition by BC Partners. CeramTec Gmbh, Oct.11.2017.
  4. ^ Elysium. In November 2016, BCEC IX completed the carve‐out of 22 mental health assets, to create the newly formed company Elysium. BC Partners. Accessed Jul.21.2019.
  5. ^ About us. Elysium Healthcare. Accessed Jul.20.2019.
  6. ^ Elysium buys mental health services provider. Storm Rannard, Insider Media Ltd, Feb.15.2017.
  7. ^ Foxtons Buyout Firm Snatches Insurer Sabre. Mark Kleinman, Sky News, Sept.09.2013.
  8. ^ Private equity firm BC partners exits Sabre Insurance with £116m share sale. James Booth, City AM, Sept.05.2018.
  9. ^ British car insurer Sabre's London listing priced at 230 pence per share. Reuters, Dec.06.2017.
  10. ^ Phones4U gets new private equity owner. This is Money., Mar.18.2011.
  11. ^ Phones 4U owner BC Partners walks away with £18 million profit. The Evening Standard., Sept.18.2014.
  12. ^ BC Partners buys out European lab-test duo. Reuters, Sept.02.2009.
  13. ^ Cinven Agrees to Buy a Majority Stake in Synlab. DealB%k, Jun.26.2015. Original archived on Jun.28.2015.