Apax Partners

{{history of private equity and venture capital}}

In 1972,{{Cite web |last=Sánchez |first=Álvaro |date=2023-06-28 |title=Sir Ronald Cohen, the founder of Apax Partners: ‘Capitalism hasn’t changed for more than 200 years, but now it’s changing’ |url=https://english.elpais.com/economy-and-business/2023-06-28/sir-ronald-cohen-the-founder-of-apax-partners-capitalism-hasnt-changed-for-more-than-200-years-but-now-its-changing.html |access-date=2023-11-30 |website=EL PAÍS English |language=en-us}}{{Cite web |date=2000-11-15 |title=Q: What have Dolly the sheep, Chris Evans and Britain's first |url=https://www.independent.co.uk/news/people/profiles/q-what-have-dolly-the-sheep-chris-evans-and-britain-s-first-ebillionaire-got-in-common-a-the-man-who-helped-to-create-them-all-624873.html |access-date=2023-11-30 |website=The Independent |language=en}} Ronald Mourad Cohen and Maurice Tchénio founded the advisory firm Multinational Management Group (MMG) in London, Paris, and Chicago, marking the beginning of Apax Partners.{{Cite web |date=2006-01-01 |title=Sir Ronald M. Cohen, MBA 1969 |url=https://www.alumni.hbs.edu/stories/Pages/story-bulletin.aspx?num=2002 |access-date=2024-02-25 |website=Harvard Business School Alumni |language=en}}{{Cite web |title=Maurice Tchenio |url=https://www.alphaomegafondation.com/en/maurice-tchenio-5d7628c5635d7 |access-date=2024-02-25 |website=Fondation AlphaOmega |language=en}} In 1977, they formed a partnership with early venture capitalist Alan Patricof, who founded Patricof & Co in New York in 1969.{{Cite web |date=11 September 2007 |title=This old guy sure can pick 'em |url=https://money.cnn.com/magazines/fortune/fortune_archive/2007/09/17/100258869/index.htm |access-date=25 February 2024 |website=Money CNN}}{{Cite web |title=Legendary VC Alan Patricof says valuations still have further to fall |url=https://fortune.com/2022/09/21/alan-patricof-valuations-fall/ |access-date=2024-02-25 |website=Fortune |language=en}} The new firm would be known as Alan Patricof Associates (APA) and ultimately come to be known as Apax Partners (apax means "unique" in classical Greek).{{Cite web |title=Globetrotter |url=https://www.forbes.com/forbes/2000/0417/6509128a.html |access-date=2023-10-31 |website=Forbes |language=en}}

Throughout the 1980s, the firm grew steadily raising capital under a series of separate funds.{{Cite web |title=Le Dfi Mondial |url=https://www.forbes.com/global/2000/0403/0306040a.html |access-date=2024-02-25 |website=Forbes |language=en}}{{Cite web |title=Ronald Cohen's Turn to Social Investing |url=http://hbswk.hbs.edu/archive/5057.htmlronald-cohen-s-turn-to-social-investing |access-date=2024-02-25 |website=HBS Working Knowledge |language=en}}

In 1991, Apax Partners became the official name for all of its European operations{{Cite web |title=APAX PARTNERS HOLDINGS LTD overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/02580394 |access-date=2024-02-25 |website=find-and-update.company-information.service.gov.uk |language=en}} however the U.S. business still operated under the Patricof & Co. name. By the mid-1990s Apax had become one of the larger private equity firms globally.

In 2001, Patricof & Co. adopted the Apax Partners branding and formalized its affiliation with its European business.{{Cite web |last=Meikle |first=Brad |date=2001-10-01 |title=Patricof & Co name change |url=https://www.buyoutsinsider.com/patricof-co-name-change/ |access-date=2024-02-25 |website=Buyouts |language=en-US}}{{Cite web |date=10 September 2001 |title=Patricof Becomes Apax |url=https://www.lightreading.com/business-management/patricof-becomes-apax |access-date=25 February 2024 |website=Light Reading}} In 2002, Apax Partners LLP was established.{{Cite web |title=APAX PARTNERS LLP overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/OC303117 |access-date=2024-02-25 |website=find-and-update.company-information.service.gov.uk |language=en}}

In 2005, Apax announced it would acquire middle market leveraged buyout firm Saunders Karp & Megrue to augment its buyout business in the United States.{{Cite news |last= |first= |date=2005-02-25 |title=COMPANY NEWS; BRITISH BUYOUT FIRM BUYS OUT AMERICAN BUYOUT FIRM |url=https://www.nytimes.com/2005/02/25/business/company-news-british-buyout-firm-buys-out-american-buyout-firm.html |access-date=2024-02-25 |work=The New York Times |language=en-US |issn=0362-4331}}{{Cite news |last=Rayner |first=Abigail |date=2024-02-25 |title=Apax’s US arm in merger |url=https://www.thetimes.com/world/us-world/article/apaxs-us-arm-in-merger-fdjt8g5ljgl |access-date=2024-02-25 |work=The Sunday Times |language=en |issn=0140-0460}} In March 2006, Alan Patricof left Apax.{{Cite news |last=Sorkin |first=Andrew Ross |date=2006-03-06 |title=New Fund for Prominent Investor |url=https://www.nytimes.com/2006/03/06/business/media/new-fund-for-prominent-investor.html |access-date=2024-02-25 |work=The New York Times |language=en-US |issn=0362-4331}}

In 2006, Apax Partners in London and Apax Partners France in Paris became independent.{{Cite web |title=DNA |url=https://www.seven2.eu/en/firm/adn/ |access-date=2023-10-31 |website=Apax |language=en-GB}} Apax Partners France rebranded to Seven2 in 2023.

• British Telecom restructured, and agreed to sell the Yell Group Yellow pages directory business to Apax and Lion Capital LLP for £2.14 billion ($3.5 billion),{{cite web|url=http://www.yellgroup.com/english/aboutyell-yelluk-yellukhistory-2000 |title=Yell.com History - 2000+ |publisher=Yell.com |access-date=2008-01-11 |archive-url=https://web.archive.org/web/20080208131527/http://www.yellgroup.com/english/aboutyell-yelluk-yellukhistory-2000 |archive-date=8 February 2008 |url-status=dead }} making it then the largest non-corporate LBO in European history. Yell bought US directories publisher McLeodUSA for about $600 million the following year,[http://news.bbc.co.uk/1/hi/business/1774061.stm Yell buys US directories] BBC News, 21 January 2002 and floated on London's FTSE in 2003.[https://web.archive.org/web/20030811113610/http://www.businessweek.com/magazine/content/03_29/b3842142_mz035.htm Europe's IPO trickle could become a flood] Businessweek, 21 July 2003

• Apax purchased a majority stake in Travelex (the world's largest foreign exchange company) for £1.06bn. In Q3 2005 Apax also announced plans to purchase Grupo Panrico, one of Spain's largest food companies and its largest bakery company.
• A partnership consisting of Apax, Saban Capital Group and Arkin Communications acquired the controlling interest (30%) in Israeli telecommunications company Bezeq in October 2005 for $923 million.{{cite news|title=Apax Saban Arkin Group completes acquisition of controlling interest in leading Israeli telecom company Bezeq|url=http://goliath.ecnext.com/coms2/gi_0199-4928987/Apax-Saban-Arkin-Group-completes.html|access-date=18 March 2012|newspaper=Goliath|date=1 October 2005}} The partnership sold its stake to Internet Gold – Golden Lines Ltd. subsidiary B Communications in April 2010 for $1.75 billion.{{cite news|title=B Communications Closes Acquisition Of Controlling Interest In Bezeq |url=http://www.rttnews.com/content/BreakingNews.aspx?Id=1268972 |archive-url=https://archive.today/20120911022302/http://www.rttnews.com/content/BreakingNews.aspx?Id=1268972 |url-status=dead |archive-date=11 September 2012 |access-date=18 March 2012 |newspaper=RTTNews |date=14 April 2010 }}
• Apax floated the satellite communications company Inmarsat on the London Stock Exchange in 2015.{{cite news|url=https://www.telegraph.co.uk/business/2019/03/19/private-equity-firms-make-fresh-bid-inmarsat/|title=Private equity firms make fresh bid for Inmarsat|work=Daily Telegraph|date=19 March 2019|access-date=20 March 2019|last1=Harding|first1=Latoya}}

• Apax purchased the Tommy Hilfiger Corporation for $1.6 billion, or $16.80 a share, all in cash. In May 2006, this deal was approved by the shareholders of Tommy Hilfiger.{{Cite web |last=Lockwood |first=Lisa |date=2006-05-10 |title=Shareholders Approve Hilfiger-Apax Merger |url=https://wwd.com/feature/shareholders-approve-hilfiger-apax-merger-536216-1996925/ |access-date=2023-12-20 |website=WWD |language=en-US}}{{Cite web |last=O'Connor |first=Clare |date=2014-12-10 |title=Turnaround Tommy: How Hilfiger's Once-Dead Brand Had Its Biggest Year Ever |url=https://www.forbes.com/sites/clareoconnor/2014/12/10/turnaround-tommy-how-hilfigers-once-dead-brand-had-its-biggest-year-ever/ |access-date=2023-12-20 |website=Forbes |language=en}}
• In June 2006, Apax acquired HIT Entertainment in a take-private transaction.{{Cite news|url=https://www.thetimes.com/world/us-world/article/bob-helps-hit-to-build-its-profits-fch9ttwqklr|title=Bob helps HIT to build its profits|last=Sabbagh|first=Dan|date=2006-10-31|work=The Times|access-date=2018-06-29|language=en|issn=0140-0460}}
• On 21 August 2006 it was announced that Apax Partners and Bain Capital had joined the enlarged private equity consortium headed by KKR that has agreed to acquire an 80.1% stake in the Semiconductor Division of Royal Philips Electronics. The new company is called NXP Semiconductors.
• On 31 October 2006 it was announced that Apax Partners had acquired FTMSC (France Télécom Mobile Satellite Communications) which would later be rebranded under the Vizada name in June 2007. This was shortly followed by an announcement on 6 September 2007 explaining that Apax Partners had acquired Telenor Satellite Services which was to be merged into the Vizada brand.
• On 20 November 2006 Apax Partners Worldwide LLP won a tender to buy control of Tnuva. The bid values the privately held food and dairy group at $1.025 billion.

• In May 2007, Apax signed definitive agreements with funds advised by Apax Partners and OMERS Capital Partners under which such funds acquired the higher education, careers and library reference assets of Thomson Learning, and a consortium of funds advised by OMERS, and Apax acquired Nelson Canada, for a combined total value of approximately $7.75 billion{{clarify|date=September 2009}} in cash. The higher education, careers and library reference assets include such well-known brands and businesses as: Wadsworth, South-Western, Delmar Learning, Eddie Diamond, Gale, Heinle, Brooks/Cole, Course Technology and Nelson Canada. Nelson Canada is a leading provider of books and online resources for the educational market in Canada. The group will be majority-owned by OMERS. The name was changed to Cengage Learning, on 24 July 2007.

• In January 2008 Apax and Mivtach Shamir purchased the Tnuva company for $1.025 billion.{{cite web|url=http://www.apax.com/news/news-listing/2008/january/consortium-comprising-funds-advised-by-apax-partners-amp-mivtach-shamir-acquires-tnuva-for-$1025-billion.aspx|title=Consortium comprising funds advised by Apax Partners & Mivtach Shamir acquires Tnuva for $1.025 billion|publisher=apax|date=7 January 2008|access-date=12 March 2012}}{{Cite web|url=http://www.globes.co.il/en/article-fosun-capital-mulls-buying-meir-shamirs-tnuva-stake-1000991715|title=Fosun Capital mulls buying Meir Shamir's Tnuva stake - Globes English|website=Globes|date=7 December 2014|language=he|access-date=2017-08-20}}
• In August 2008, Apax Partners completed acquisition of TriZetto Group.{{Cite press release|url=https://www.prnewswire.com/news-releases/funds-advised-by-apax-partners-agree-to-sell-their-majority-stake-in-the-trizetto-corporation-to-cognizant-technology-solutions-275096761.html|title=Funds advised by Apax Partners agree to sell their majority stake in the TriZetto Corporation to Cognizant Technology Solutions|website=www.prnewswire.com|language=en|access-date=2018-09-20}}

• In August 2009, Apax Partners completed acquisition of Bankrate.{{Cite news|url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8098746/Apax-Partners-in-the-hunt-for-moneysupermarket.html|title=Apax Partners in the hunt for moneysupermarket|last=Harrington|first=Amanda Andrews and Ben|journal=Daily Telegraph|date=2010-10-31|access-date=2018-09-20|language=en-GB|issn=0307-1235}}

• In January 2010, Apax Partners acquired 76.8% of Israel-based Psagot Investment House for $570 million.{{cite news|title=Apax buys majority of Israel investment firm Psagot|url=http://www.ynetnews.com/articles/1,7340,L-3977297,00.html|access-date=12 March 2012|newspaper=Ynetnews|date=11 January 2010|agency=Reuters}}
• In April 2010, Apax Partners announced acquisition of TIVIT.{{cite web|url=http://www.tivit.com/|title=TIVIT - Líder em serviços integrado de tecnologia e possui um portfólio único de soluções|website=TIVIT}}{{Cite news|url=https://www.bloomberg.com/news/articles/2010-05-10/apax-partners-to-buy-tivit-for-1-billion-in-first-acquisition-in-brazil|title=Terms of Service Violation|newspaper=Bloomberg.com|date=10 May 2010|access-date=2018-09-20}}
• In May 2010, Apax Partners acquired a 70% stake in Sophos for $580 million.{{cite news|title=Apax Agrees to Acquire Sophos|url=https://www.wsj.com/news/articles/SB10001424052748703612804575222932243074508|access-date=2 April 2014|newspaper=WSJ|date=4 May 2010|first=Ben|last=Worthen}}

• On 25 March 2011 Apax Partners announced that it had reached a definitive agreement to purchase Trader Corporation (“Trader”) from Yellow Media for a purchase price consideration of $745 million.{{cite web|url=http://www.apax.com/news/apax-news/2011/march/apax-partners-to-acquire-trader-corporation%27s-auto-assets.aspx |title=Apax Partners to Acquire Trader Corporation's Auto Assets |publisher=Apax Partners |date=2011-03-25 |access-date=2013-08-05}}
• On 23 December 2011 Apax Partners announced acquisition of the Swiss branch of Orange.{{cite web|url=http://www.apax.com/news/news-listing/2011/december/funds-advised-by-apax-partners-to-acquire-orange-switzerland.aspx|title=Apax - Error|first=Webreality|last=www.webreality.co.uk|website=www.apax.com}}

• In February 2012, Apax sold HiT Entertainment to Mattel for $680 million.
• On 11 June 2012 an Apax-led consortium announced acquisition of Paradigm Ltd.{{cite web|url=http://www.apax.com/news/news-listing/2012/june/apax-led-consortium-agrees-to-acquire-paradigm-ltd.aspx |title=Apax-led Consortium Agrees to Acquire Paradigm Ltd. |publisher=Apax Partners |date=2012-06-11 |access-date=2013-08-05}}
• In September 2012, Apax Partners forms consortium with CEO Stephen Cretier for GardaWorld Security Services.{{cite web|url=http://www.apax.com/news/apax-news/2012/september/garda-announces-agreement-to-be-acquired-by-company-founder-and-ceo-stephan-cretier-and-apax-funds.aspx |title=Garda announces agreement to be acquired by company Founder and CEO Stephan Cretier and Apax Funds |publisher=Apax Partners |date=2012-11-07 |access-date=2013-10-06}}
• In November 2012, Apax Partners agrees to acquire Cole Haan and completes acquisition 4 February 2013.{{cite web|url=http://www.apax.com/news/apax-news/2012/november/apax-agrees-to-acquire-cole-haan.aspx |title=Apax Partners agrees to acquire Cole Haan |publisher=Apax Partners |date=2012-11-16 |access-date=2013-10-06}}

• On 21 January 2014 Apax bought out the remaining 50.1% share of Trader Media from the Guardian Media Group.{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/10587296/Guardian-Media-Group-gets-600m-for-AutoTrader-stake.html |title=Guardian Media Group gets 600m for AutoTrader stake |publisher=The Daily Telegraph |date=2014-01-21 |access-date=2014-01-21 |location=London |first=Christopher |last=Williams}}
• On 9 October 2014 Apax announced that they will acquire Dutch software maker Exact.{{Cite web|url=https://dealbook.nytimes.com/2014/10/09/apax-linked-funds-to-acquire-dutch-software-maker-for-925-million/?_r=0|title=Apax-Linked Funds to Acquire Dutch Software Maker for $925 Million|date=2014-10-09|work=The New York Times|access-date=2016-12-08}} It closed the transaction in April 2015.{{Cite web|url=https://www.pehub.com/2015/04/apax-partners-closes-buy-of-exact-for-730-mln-euros/|title=Apax Partners closes buy of Exact for 730 mln euros|last=Dorbian|first=Iris|date=2015-04-15|website=pehub.com|publisher=PE Hub Network|access-date=2016-12-08}}
• On 8 December 2014 Apax announced that it had entered into a transaction agreement to acquire 100% of the shares of EVRY.{{cite web |date=2014-12-08 |title=Recommended cash offer by funds advised by Apax to acquire 100% of the shares of EVRY |url=http://www.apax.com/news/apax-news/2014/december/recommended-cash-offer-by-funds-advised-by-apax-to-acquire-100-of-the-shares-of-evry/ |access-date=2014-12-09 |publisher=Apax Partners}}

• In May 2015, Apax Partners agreed to purchase Quality Distribution, a Tampa, Florida–based chemical transport and logistics firm, for $800 million, including assumption of debt. The deal was completed in August 2015.[https://www.bizjournals.com/tampabay/blog/morning-edition/2015/05/private-equity-firm-buys-quality-distribution-for.html "Private equity firm buys Quality Distribution for $800M,"] Tampa Bay Business Journal, May 7, 2015.
• In July 2015, Apax bought 100% of Spanish real state web portal idealista.{{Cite web |date=2015-07-24 |title=MergerLinks - Apax Partners acquired Idealista from Tiger Global Management, Kutxabank and Bonsai Venture Capital. |url=https://app.mergerlinks.com/transactions/2015-07-24-idealista-sa/dealmakers |access-date=2024-05-30 |website=app.mergerlinks.com}}
• In December 2015, Apax Partners agreed to sell Rhiag-Inter Auto Parts Italia SpA to LKQ Corporation for $1.14 billion.[https://www.reuters.com/article/us-rhiag-m-a-lkq/lkq-to-buy-italys-rhiag-to-boost-europe-auto-spares-business-idUSKBN0U51DC20151223 "LKQ to buy Italy's Rhiag to boost Europe auto spares business,"] Reuters, December 22, 2015.

• On 19 July 2016 Apax Partners agrees to acquire Boats Group. Formerly Dominion Marine Media ("DMM"), a subsidiary of Landmark Media Enterprises.{{cite web|url=http://boatingindustry.com/news/2016/07/19/new-owner-for-dominion-marine-media/|title=New owner for Dominion Marine Media|last=Boating Industry|date=19 July 2016|work=Boating Industry|access-date=3 October 2016}}

• On 23 August 2017 funds advised by Apax Partners announced a definitive agreement to acquire ThoughtWorks, a global software development and digital transformation consulting company.{{cite web|url=http://www.prnewswire.com/news-releases/funds-advised-by-apax-partners-to-acquire-thoughtworks-inc-300508642.html/|title=Funds advised by Apax Partners to acquire ThoughtWorks, Inc.|date=23 August 2017|archive-url=https://web.archive.org/web/20170823223442/http://www.prnewswire.com/news-releases/funds-advised-by-apax-partners-to-acquire-thoughtworks-inc-300508642.html|archive-date=23 August 2017|url-status=dead}}
• In September 2017, Tom Chapman and Ruth Chapman sold a majority stake in Matchesfashion.com to private-equity funds managed by Apax Partners.{{cite news |last=Clarke |first=Katherine |title=British Fashion Entrepreneurs Spend $24 Million on Modern Los Angeles Compound |url=https://www.wsj.com/articles/british-fashion-entrepreneurs-spend-24-million-on-modern-los-angeles-compound-1513102932 | work=The Wall Street Journal |location=New York City, New York |access-date=December 18, 2017}}

• In January 2019, Apax Partners invested US$200 million in Fractal Analytics.{{cite news|url=https://www.livemint.com/Companies/IwAVz2kCsEelgoDtOnCp0K/Apax-Funds-invests-200-million-in-Fractal-Analytics.html|title=Apax Funds invests $200 million in Fractal Analytics|date=January 17, 2019|first=Malvika|last=Joshi|access-date=February 12, 2020|publisher=Livemint}}{{cite news|url=https://www.vccircle.com/apax-partners-to-acquire-200-mn-stake-in-fractal-analytics/|title=Apax Partners to acquire $200 mn stake in Fractal Analytics|first=Ranjani|last=Raghavan|date=January 16, 2019|access-date=February 12, 2020|publisher=VCcircle}}
• In May 2019, Apax Partners purchased New Zealand e-commerce company Trade Me for $1.7 billion.{{cite web |title=Funds advised by Apax Partners complete the acquisition of Trade Me |url=https://www.apax.com/news/press-releases/2019/funds-advised-by-apax-partners-complete-the-acquisition-of-trade-me/ |publisher=Apax Partners |access-date=11 May 2019}}
• In July 2019, funds advised by Apax Partners acquired Baltic Classifieds Group, a business owning a portfolio of portals in Estonia, Latvia and Lithuania.{{cite news|url= https://aimgroup.com/2019/05/21/apax-funds-acquires-baltic-classifieds-group/ |title= Apax Funds acquires Baltic Classifieds Group|date=21 May 2019|newspaper=AIM Group| access-date=25 August 2021}}

• In April 2020, Apax Partners finalized the purchase of Coalfire, a cybersecurity firm.{{Cite web|url=https://enterprisetalk.com/news/apax-partners-completes-coalfire-acquisition/|title=Apax Partners Completes Coalfire Acquisition|date=2020-04-24|website=EnterpriseTalk|language=en-US|access-date=2020-04-25}}
• In June 2020, Apax invested $100 million in Payfone, a software and data analytics firm, today known as Prove Identity{{Cite web |last=Lunden |first=Ingrid |date=2023-10-17 |title=Prove Identity nabs $40M at a $1B+ valuation to expand in mobile-based authentication tech |url=https://techcrunch.com/2023/10/17/prove-identity-40-million/ |access-date=2023-11-29 |website=TechCrunch |language=en-US}} and based in New York.{{Cite web |last= |title=Payfone Raises $100 Million Led by the Apax Digital Fund |url=https://www.prnewswire.com/news-releases/payfone-raises-100-million-led-by-the-apax-digital-fund-301079672.html |access-date=2023-11-29 |website=www.prnewswire.com |language=en}}
• In September 2020, Apax sold their majority stake in idealista, the Spanish real-estate web portal, to EQT AB, for a sum of EUR1.3 billion, achieving a quintuple return on its 2015 investment of EUR235 million.{{Cite news |last=Mendonça |first=Elisângela |title=Apax nets over fivefold return from €1.3bn Idealista sale |url=https://www.penews.com/articles/apax-nets-over-fivefold-return-from-e1-3bn-idealista-sale-20200910 |access-date=2024-05-30 |language=en-GB}}
• In Dec 2020, Azentio Software Private Limited, subsidiary of Apax Partners, buys global software products business of 3i Infotech for Rs. 1000 Cr {{Cite web|url=https://www.apax.com/news/press-releases/2020/3i-infotech-announces-sale-of-its-software-products-business-to-funds-advised-by-apax-partners/|title=Apax Partners buys 3i Infotech product business|last=Apax|date=2020-12-29|website=Apax|language=en-US|access-date=2020-12-29}}

• In January 2021, Apax acquired PIB Group, a specialist insurance company, together with PIB's management team.{{Cite web |last=Baker |first=Katie |date=2021-01-29 |title=Apax Partners acquires PIB Group |url=http://www.reinsurancene.ws/apax-partners-acquires-pib-group/ |access-date=2024-01-31 |website=ReinsuranceNe.ws |language=en}}
• In February 2021, Apax reinvested in idealista, acquiring a 17% stake in the web portal for EUR250 million.{{Cite web |title=5 Months After Selling, Apax Reinvests In Idealista |url=https://www.onlinemarketplaces.com/articles/5-months-after-selling-apax-reinvests-in-idealista/ |access-date=2024-05-30 |website=www.onlinemarketplaces.com |language=en-US}}
• In February 2021, Apax acquired a majority stake in Herjavec Group, a global managed security services provider led by founder and CEO Robert Herjavec, who retained a significant stake.{{Cite web |last=Olenick |first=Doug |last2= |date=13 February 2021 |title=M&A Update: Apax Partners to Acquire Herjavec Group |url=https://www.bankinfosecurity.com/ma-update-apax-partners-to-acquire-herjavec-group-a-15989 |access-date=2023-09-20 |website=www.bankinfosecurity.com |language=en}}{{Cite web |date=2021-02-11 |title=Herjavec Group to be acquired by U.K.-based Apax Funds {{!}} IT World Canada News |url=https://www.itworldcanada.com/article/herjavec-group-to-be-acquired-by-u-k-based-apax-funds/442296 |access-date=2023-09-20 |website=www.itworldcanada.com |language=en-US}}
• In March 2021, Apax Partners acquired Rodenstock, a German manufacturer of ophthalmic lenses and spectacle frames, for EUR1.5 billion.{{Cite news |date=2021-03-24 |title=Apax Nears Deal for $1.8 Billion German Eyewear Firm Rodenstock |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2021-03-24/apax-said-to-near-deal-for-1-8-billion-eyewear-firm-rodenstock |access-date=2023-08-17}}{{Cite web |title=Apax Acquires Rodenstock |url=https://mergr.com/apax-acquires-rodenstock |access-date=2023-08-17 |website=mergr.com}}
• In March 2021, Apax also agreed to acquire Lutech, an IT service company in Italy, from One Equity Partners.{{Cite web |date=16 March 2021 |title=Funds advised by Apax to acquire Lutech |url=https://www.privateequitywire.co.uk/funds-advised-apax-acquire-lutech/ |access-date=31 January 2023 |website=Private Equity Wire}}
• In May 2021, Apax acquired Texas based, pet food company Nulo.{{Cite web |last=Harvey |first=Simon |date=2021-06-22 |title=Pet-food business Nulo comes under new majority ownership |url=https://www.just-food.com/news/pet-food-business-nulo-comes-under-new-ownership/ |access-date=2024-01-31 |website=Just Food |language=en-US}}
• In June 2021, Apax acquired Infogain, a Silicon Valley–based company in the digital transformation and software services sector, from the private equity firm ChrysCapital.{{cite news |title=Apax Partners acquires Infogain from ChrysCapital |url=https://www.cnbctv18.com/business/apax-partners-acquires-infogain-from-chryscapital-9627301.htm |work=CNBCTV18 |date=11 June 2021 |language=en}}{{cite web |title=Apax Funds to acquire Infogain from ChrysCapital {{!}} Apax Partners |url=https://www.apax.com/news-views/apax-funds-to-acquire-infogain-from-chryscapital/ |website=www.apax.com |language=en}}
• In August 2021, Apax acquired EveryAction from Insight Partners and Social Solutions from Vista Equity Partners, combining them with CyberGrants, a company it agreed to acquire in June from Waud Capital Partners. Vista kept a minority stake in the combined company, which will have annual revenue of over $200 million.{{Cite web|url=https://www.bloomberg.com/news/articles/2021-08-03/apax-merges-software-firms-for-non-profits-in-2-billion-deal|title= Apax Merges Software Firms for Non-Profits in $2 Billion Deal |last=Apax|date=2021-08-03|website=Bloomberg|language=en-US|access-date=2022-01-20}}
• In September 2021, Apax joined with Warburg Pincus to acquire T-Mobile Netherlands Holding B.V., today known as Odido, in a transaction valuing the company at an enterprise value of EUR5.1 billion.{{Cite web |date=2021-09-07 |title=Apax Funds and Warburg Pincus to acquire T-Mobile Netherlands |url=https://www.techzine.eu/news/privacy-compliance/64980/apax-funds-and-warburg-pincus-to-acquire-t-mobile-netherlands/ |access-date=2023-09-28 |website=Techzine Europe |language=en}}{{Cite web |title=T-Mobile acquired by two investors for €5.1 billion {{!}} NL Times |url=https://nltimes.nl/2021/09/07/t-mobile-acquired-two-investors-eu51-billion |access-date=2023-09-28 |website=nltimes.nl |language=en}}
• In September 2021, Apax also acquired SavATree, a horticultural service provider, based in New York.{{Cite web |date=13 September 2023 |title=Apax Funds acquires SavATree |url=https://www.lawnandlandscape.com/news/apax-funds-acquires-savatree/ |access-date=31 January 2024 |website=Lawn & Landscape}}
• In October 2021, Apax agreed to acquire the homeowner services group of American Water Works for $1.27 billion.{{Cite web |date=29 October 2021 |title=Apax Buys Homeowner Services Group of American Water for $1.27B |url=https://www.themiddlemarket.com/latest-news/apax-buys-homeowner-services-group-of-american-water-for-1-27b |access-date=29 October 2023 |website=Mergers&Acquisitions}}
• In November 2021, UK satellite firm Inmarsat, partially owned by Apax, agreed to be acquired by Viasat for $7.3 billion.{{Cite news |date=2021-11-08 |title=Viasat buys Britain's Inmarsat in $7.3 billion satellite play |language=en |work=Reuters |url=https://www.reuters.com/article/inmarsat-m-a-viasat-idCAKBN2HT1RY |access-date=2023-10-31}}{{Cite news |last=Sweney |first=Mark |date=2021-11-08 |title=UK satellite firm Inmarsat agrees $7.3bn takeover by US rival Viasat |language=en-GB |work=The Guardian |url=https://www.theguardian.com/business/2021/nov/08/uk-satellite-firm-inmarsat-agrees-73bn-takeover-by-us-rival-viasat |access-date=2023-10-31 |issn=0261-3077}}
• In December 2021, Apax sold Unilabs, a European medical diagnostics company acquired from Nordic Capital and Apax Partners France, today known as Seven2,{{Cite web |title=Apax Partners rebrands to Seven2 |url=https://realdeals.eu.com/article/apax-partners-rebrands-to-seven2 |access-date=2023-10-31 |website=Real Deals |language=en}} in 2016,{{Cite web |date=13 December 2016 |title=Apax, Nordic conduct Unilabs deal |url=https://pitchbook.com/newsletter/apax-nordic-conduct-unilabs-deal |access-date=31 October 2023 |website=PitchBook}} to A.P. Moller Holding, the owner of Maersk.{{Cite news |date=2021-12-03 |title=Maersk-owner to acquire Unilabs from Apax Partners |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/maersk-owner-acquire-unilabs-apax-partners-2021-12-03/ |access-date=2023-10-31}}
• In November 2021 Apax acquired NGP VAN for $2 billion. NGP VAN through Mobilize.us handled voter registration information for the Democratic Party. During the 2024 Presidential election, teams working for Kamala Harris fixed flaws in the system, and some questioned whether a private equity firm should be handling such data.{{Cite web|url=https://www.nytimes.com/2025/03/01/us/politics/democrats-voter-data.html|title=Inside the Democratic Disaster That Didn’t Happen in November|date=March 1, 2025}}
• In February 2022, Apax acquired a majority stake in Ole Smoky Distillery, a Gatlinburg, Tennessee–based spirits company.{{Cite web |date=14 February 2022 |title=Apax Acquires Ole Smoky Distillery |url=https://www.themiddlemarket.com/latest-news/apax-acquires-ole-smoky-distillery |access-date=17 November 2023 |website=Mergers&Acquisitions}}{{Cite web |last=Brooker |first=Alice |date=2022-02-14 |title=Ole Smoky Distillery sells stake to Apax |url=https://www.thespiritsbusiness.com/2022/02/ole-smoky-distillery-sells-stake-to-apax/ |access-date=2023-11-17 |website=The Spirits Business |language=en-GB}}
• In February 2022, Apax also acquired a controlling stake in Alcumus, a risk management and compliance services firm based in Cardiff.{{Cite web |last=McCarthy |first=Sebastian |title=Inflexion and Apax shake hands in £600m deal for Alcumus |url=https://www.penews.com/articles/inflexion-and-apax-shake-hands-in-600m-deal-for-alcumus-20220211 |access-date=2024-02-25 |website=www.penews.com |language=en-GB}}{{Cite web |last=Segal |first=Mark |date=2022-02-11 |title=Apax Acquires Controlling Stake in ESG & EHS Risk Management Provider Alcumus at £600M+ Valuation |url=https://www.esgtoday.com/apax-acquires-controlling-stake-in-esg-ehs-risk-management-provider-alcumus-at-600m-valuation/ |access-date=2024-02-25 |website=ESG Today |language=en-US}}
• In October 2022, Apax sold ISO tank services provider Boasso Global, formerly known as Quality Distribution, to KKR.{{Cite web |date=2022-10-28 |title=PE firm Apax to sell Boasso Global to KKR |url=https://www.bulktransporter.com/fleet-management/article/21253648/private-equity-firm-apax-to-sell-boasso-global-to-kkr |access-date=2023-12-31 |website=Bulk Transporter}}{{Cite web |last=Dorbian |first=Iris |date=2022-10-06 |title=KKR to acquire ISO tank services provider Boasso Global from Apax |url=https://www.pehub.com/kkr-to-acquire-iso-tank-services-provider-boasso-global-from-apax/ |access-date=2023-12-31 |website=PE Hub |language=en-US}}
• In May 2023, Apax agreed to acquire Blackstone Inc.'s minority stake in IBS Software, a software-as-a-service provider for travel and logistics companies, investing an estimated $450m, with IBS Software founder and executive chairman, Valayil Korath Mathews, retaining the majority stake.{{Cite web |date=15 May 2023 |title=Blackstone sells stake worth $450 mn in SaaS firm IBS Software to Apax |url=https://www.business-standard.com/india-news/blackstone-sells-stake-worth-450-mn-in-saas-firm-ibs-software-to-apax-123051500691_1.html |access-date=31 January 2024 |website=Business Standard}}
• In July 2023, Apax agreed with Fremman Capital and other minor stakeholders, to acquire a co-controlling stake in Spain's Palex Medical.{{Cite web |date=31 July 2023 |title=Apax to acquire co-controlling stake in Palex Medical |url=https://www.reuters.com/markets/deals/apax-acquire-co-controlling-stake-palex-medical-2023-07-31/ |access-date=31 January 2024 |website=Reuters}}
• In August 2023, Apax entered into an agreement with The Tornante Company, former Disney CEO Michael Eisner's private investment firm, and Madison Dearborn Partners to acquire the Bazooka candy business for a sum of $700 million.{{Cite web |date=14 August 2023 |title=Former Disney CEO Michael Eisner Strikes Deal to Sell Bazooka Gum Business |url=https://www.wsj.com/articles/eisner-strikes-deal-to-sell-bazooka-gum-business-2712cef5 |access-date=31 January 2023 |website=The Wall Street Journal}}
• In October 2023, Apax agreed to invest in GAN Integrity, a provider of cloud-based compliance management software, based in Copenhagen, Denmark.{{Cite web |last=Joseph |first=Irien |date=2023-10-26 |title=Apax Partners agrees to invest in GAN Integrity |url=https://www.pehubeurope.com/apax-partners-agrees-to-invest-in-gan-integrity/ |access-date=2024-04-14 |website=PE Hub Europe |language=en-GB}}
• In November 2023, Apax, together with existing investors Frontier Growth, PeakSpan Capital, and Petvisor's management team, invested more than $100m in Petvisor, a veterinary and pet services software provider.{{Cite web |last=Dorbian |first=Iris |date=2023-11-14 |title=Apax Digital Funds leads over $100m in vet and pet services software provider Petvisor |url=https://www.pehub.com/apax-digital-funds-leads-over-100m-in-vet-and-pet-services-software-provider-petvisor/ |access-date=2024-04-14 |website=PE Hub |language=en-US}}
• In December 2023, Apax acquired the financial software companies OCS from Charme Capital Partners and Finwave from Lutech.{{Cite web |title=Apax Partners acquires OCS and Finwave |url=https://realdeals.eu.com/article/apax-partners-acquires-ocs-and-finwave |access-date=2024-04-28 |website=Real Deals |language=en}}{{Cite web |date=15 December 2023 |title=Private equity dives into datacenters; dry powder hits another record high |url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/private-equity-dives-into-datacenters-dry-powder-hits-another-record-high-79791838 |access-date=28 April 2024 |website=S&P Global}}
• In February 2024, Apax completed the acquisition of trend forecasting company WGSN from Ascential.{{Cite web |title=A&O Advises Apax Fund On £700M Consumer Trend Biz Buy - Law360 |url=https://www.law360.com/articles/1793214/a-o-advises-apax-fund-on-700m-consumer-trend-biz-buy |access-date=2024-04-28 |website=www.law360.com |language=en}}{{Cite web |title=Ascential completes sale of WGSN as focus shifts to events business |url=https://www.exhibitionworld.co.uk/ascential-completes-sale-of-wgsn-as-focus-shifts-to-events-business |access-date=2024-04-28 |website=Exhibition World |language=en}} In the same month, Apax acquired a majority stake in Integrated Environmental Solutions (IES), a Glasgow-based provider of software simulation tools and consulting services for the decarbonisation of buildings, communities and cities.{{Cite web |last=Panettieri |first=Joe |date=2024-02-29 |title=M&A: Private Equity Firm Apax Partners Acquires Climate Tech Consultancy IES |url=https://sustainabletechpartner.com/topics/ma/ma-private-equity-firm-apax-partners-acquires-climate-tech-consultancy-ies/ |access-date=2024-06-04 |website=Sustainable Tech Partner for Green IT Service Providers |language=en-US}}{{Cite web |date=2024-02-28 |title=Funds advised by Apax to acquire Integrated Environmental Solutions |url=https://www.londonstockexchange.com/news-article/APAX/apax-funds-acquire-ies/about:blank |access-date=2024-06-04 |website=www.londonstockexchange.com |language=en}}
• In May 2024, Apax agreed to sell India based Healthium Medtech, a medical device company acquired from TPG Growth, CX Partners, and founding shareholders in April 2018,{{Cite web |date=9 April 2018 |title=Funds advised by Apax Partners acquire Healthium MedTech Private Limited |url=https://www.privateequitywire.co.uk/funds-advised-apax-partners-acquire-healthium-medtech-private-limited/ |access-date=30 May 2024 |website=Private Equity Wire}} to KKR for a sum of $839 million.{{Cite web |date=2024-05-06 |title=KKR to Acquire Indian Medical Device Maker Healthium From Apax |url=https://www.bloomberg.com/news/articles/2024-05-06/kkr-to-acquire-indian-medical-device-maker-healthium-from-apax |access-date=2024-05-30 |website=www.bloomberg.com}}{{Cite web |title=KKR Acquires Healthium MedTech in $839 Million Deal, Expanding Healthcare Portfolio |url=https://www.brutimes.com/news/business/kkr-acquires-healthium-medtech-in-839-million-deal-expanding-healthcare-portfolio |access-date=2024-05-30 |website=Bru Times News |language=en}}
• In July 2024, Genius Sports Limited announces that Funds advised by Apax Partners LLP have fully monetized their equity interest in Genius Sports and no longer holds any shares in the Company.{{Cite web |title=Funds advised by Apax Partners LLP fully exit their equity position in Genius {{!}} News {{!}} Genius Sports |url=https://www.geniussports.com/newsroom/funds-advised-by-apax-partners-llp-fully-exit-their-equity-position-in-genius-sports/ |access-date=2025-01-04 |website=www.geniussports.com |language=en}}
• In Nov 2024, Apax completes the transaction to take the consultancy company Thoughtworks (NASDAQ: TWKS) private, for a sum of $1.75 Billion.{{Cite news |title=Thoughtworks Completes Transaction to Go Private in $1.75 Billion Deal with Apax Funds |url=https://www.businesswire.com/news/home/20241112193185/en/ |work=Businesswire}}
• In December 2024, Apax and GTCR agreed to sell AssuredPartners NL to Arthur J. Gallagher & Co. in a $13.45 billion cash deal.{{Cite web |last=Dorbian |first=Iris |date=2024-12-09 |title=GTCR to sell insurance broker AssuredPartners for $13.45bn |url=https://www.pehub.com/gtcr-to-sell-insurance-broker-assuredpartners-for-13-45bn/ |access-date=2025-02-27 |website=PE Hub |language=en-US}}

• In January 2025, Apax agreed to sell their majority stake in Paycor HCM, a provider of human capital management software, to competitor Paychex, in a transaction valuing the company at an enterprise value of $4.1 billion.{{Cite web |last= |first= |title=Apax Funds to Sell Their Majority Stake in Paycor HCM, Inc. to Paychex, Inc. |url=https://www.prnewswire.com/news-releases/apax-funds-to-sell-their-majority-stake-in-paycor-hcm-inc-to-paychex-inc-302344502.html |access-date=2025-03-01 |website=www.prnewswire.com |language=en}}{{Cite web |date=7 January 2025 |title=Paychex to buy rival Paycor in $4.1 bln deal to expand AI-driven HR products |url=https://www.reuters.com/markets/deals/paychex-buy-payroll-firm-paycor-41-bln-deal-2025-01-07/ |access-date=1 March 2025 |website=Reuters}}

The circumstances surrounding the demerger, transfer of assets and subsequent collapse of the British United Shoe Machinery in 2000 led to questions about Apax's behaviour being raised in Parliament by MPs of both main parties. After calls for an enquiry into the loss of hundreds of pensions were refused, Ros Altmann, the pensions expert and, as of 2015, UK Pensions minister described it "one of the worst cases ..I have seen ..the actions of the former owners – Apax have been immoral." The Member of Parliament Ashok Kumar said, "I think these people needed flogging ..these are greedy, selfish, capitalists who live on the backs of others."{{cite news|url=https://www.theguardian.com/business/2007/jun/10/privateequity.statepensions|author=Nick Mathiason|title=Private equity stole our pensions|work=Observer Newspapers|date=10 June 2007|access-date=9 June 2014|location=London}}{{cite web|url=https://www.theyworkforyou.com/whall/?id=2006-01-17b.234.0&s=apax#g234.1|title=House of Commons Debate on Deferred pensions, 17 January 2006, c234WH|work=Theyworkforyou.com|access-date=8 December 2015}}

Following its sale of Wind Hellas in 2007, Apax and Hellas co-owner TPG were sued by former bondholders of the telecom company, who allege that Apax and TPG unjustifiably enriched themselves from Hellas and misrepresented the true state of its accounts. Apax has countered that some of these bondholders only began their dispute after passing up on the chance of selling prior to the bankruptcy of 2009, and that Apax sold the business in 2007 (almost three years before the bankruptcy) and so was not the legal owner of Hellas during the periods cited in some of the lawsuits. (In 2005 a New York judge awarded $56 million to some of these bondholders, made against Hellas Telecommunications Finance and Hellas Finance, rather than Apax or TPG). Other lawsuits related to Apax and TPG's ownership of Hellas are being heard in the United States. In December 2015 a separate legal action brought by the liquidators of Hellas Telecommunications was dismissed by a Luxembourg court.{{cite web|author1=William Louch|title=Luxembourg court rules in favour of Apax, TPG in Hellas case|url=http://www.efinancialnews.com/story/2015-12-24/hellas-ii-apax-tpg-luxembourg-ruling|website=efinancialnews.com/|access-date=14 January 2016|date=24 December 2015}}{{cite web|author1=Kleyr Grasso|title=Hellas case: Court rejects claim - 5 January 2016|url=http://www.lexology.com/library/detail.aspx?g=92cb8101-d5e5-46f6-b500-2da96579fd8e|website=Lexology.com|publisher=Globe Business Publishing Ltd|access-date=14 January 2016|date=5 January 2016}}{{cite web|url=https://www.cnbc.com/2014/11/20/greek-tragedy-telecom-hellas-is-focus-of-bloody-pe-fight.html|title=Greek drama: Telecom focus of bloody PE fight|first=Lawrence|last=Delevingne|website=CNBC |date=20 November 2014}}{{Cite news|title = Another Greek tragedy|url = https://www.economist.com/news/finance-and-economics/21654680-pressure-mounts-two-private-equity-giants-did-very-well-out-disastrous|newspaper = The Economist|access-date = 2015-12-23|issn = 0013-0613}}{{Cite news|title = Letters|url = https://www.economist.com/news/letters/21659685-letters|newspaper = The Economist|date = 23 July 2015|access-date = 2015-12-23}} In February 2018 the liquidators abandoned their UK case against Apax and TPG after four days of trial.[https://www.debtwire.com/intelligence/view/prime-2591557 "COURT: Hellas Telecommunications liquidators abandon lawsuit against Apax and TPG, costs hearing week of 5 March,"] Debtwire.com, February 23, 2018.

• Jonathan Kestenbaum, Baron Kestenbaum (born 1959), chief operating officer of investment trust RIT Capital Partners, and a Labour member of the House of Lords

• Scott Mead

{{Reflist|30em}}

• {{Official website|http://www.apax.com/}}
• "[https://web.archive.org/web/20081201212430/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2799424.ece How I rode the rising wave of private equity]." The Sunday Times, November 4, 2007

{{Private equity and venture capital}}

{{Authority control}}

Category:Private equity firms of the United Kingdom

Category:Conglomerate companies of the United Kingdom

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Category:Financial services companies established in 1969

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Category:British companies established in 1969

Category:Conglomerate companies established in 1969