BC Partners
{{Short description|Private equity firm}}
{{Infobox company
| logo = BC Partners logo.svg
| name = BC Partners LLP
| predecessor = Baring Capital Investors
| type = Private
| founder = Otto van der Wyck
| key_people = Raymond Svider{{cite web |title=BC Partners-Raymond Svider |url=https://www.bcpartners.com/team/our-team/raymond-svider |access-date=20 May 2020}}
Nikos Stathopoulos{{cite web |title=BC Partners-Nikos Stathopoulos |url=https://www.bcpartners.com/team/our-team/nikos-stathopoulos |access-date=20 May 2020}}
Jean-Baptiste Wautier{{cite web |title=BC-Partners-Jean-Baptiste Wautier |url=https://www.bcpartners.com/team/our-team/jean-baptiste-wautier |access-date=20 May 2020}}
| foundation = {{start date and age|1986}}
| location = London (Global)
| industry = Private equity
| products = Private Equity, Credit, Real Estate
| num_employees = ~190
| homepage = {{URL|https://www.bcpartners.com}}
}}
BC Partners LLP is a British{{cite web |title=BC partners: Legal |url=https://www.bcpartners.com/legal |access-date=13 August 2022}} international investment firm with over $40 billion of assets under management across private equity, credit and real estate in Europe and North America. Its global headquarters are in London. The firm invests across all industries. BC Partners was founded in 1986 and has offices in New York, Paris and Hamburg.{{cite web|url=https://www.bcpartners.com/contact |publisher=BC Partners |title=Contact Us }} Since inception, BC Partners has completed 113 private equity investments in companies with a total enterprise value of €145 billion.{{cite web |title=Portfolio |url=https://www.bcpartners.com/private-equity-strategy/portfolio |website=BC Partners |access-date=20 May 2020 |date=30 June 2019}}
As one of the largest European private equity firms, BC Partners competes for buyouts and investment opportunities with other large cap private equity firms including Blackstone Group, KKR, CVC Capital Partners, Advent International and The Carlyle Group.{{cite web|title=Blackstone, BC Partners, CVC Mull Bids for Kabel Deutschland |url=http://www.businessweek.com/news/2010-01-27/blackstone-bc-partners-cvc-mull-bids-for-kabel-deutschland.html |access-date=2010-01-27 }}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}{{cite web|url=http://www.pehub.com/187232/reuters-cvc-capital-bc-partners-ready-bid-elior/|archive-url=https://archive.today/20130411160625/http://www.pehub.com/187232/reuters-cvc-capital-bc-partners-ready-bid-elior/|url-status=dead|archive-date=2013-04-11|title=PE HUB » Reuters – CVC Capital, BC Partners Ready Bid for Elior|work=PE HUB|date=2013-02-20}} 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.{{cite web |title=BC Partners ramping up for next fundraising |url=http://www.evcj.com/story.asp?storycode=318289 |publisher= Buyouts Insider / Argosy Group LLC }}{{dead link|date=October 2016 |bot=InternetArchiveBot |fix-attempted=yes }} The firm's most recent fund, BC Partners X, was one of the largest buyout funds raised in 2018.{{cite web|url=https://pitchbook.com/news/articles/the-6-biggest-buyout-funds-of-2018-so-far|title=The 6 biggest buyout funds of 2018 (so far)|first=Kevin|last=Dowd |work=Pitchbook }}
BC Partners was until recently majority shareholder of Intelsat, the global satellite services provider valued at US$16.6 billion in its leveraged buyout in 2007—one of the largest private equity buyouts of all time led by a consortium of investors including BC Partners and Silver Lake Partners. In 2008, BC Partners replaced Intelsat's chairman with Raymond Svider, BC's New York–based co-chairman.{{cite web | title =Intelsat Chairman Resigns; Succeeded By BC Partners Exec | work =BN | url =http://nab.broadcastnewsroom.com/articles/viewarticle.jsp?id=357489 | access-date=2008-05-03 | archive-url =https://web.archive.org/web/20110708094959/http://nab.broadcastnewsroom.com/articles/viewarticle.jsp?id=357489 | archive-date =2011-07-08 | url-status =usurped }} Sometime between 2008 and 2018, BC Partners sold all of Intelsat to the company.
History
The firm, 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 Partners was formed by Barings to advise funds providing development capital, in particular for management buyouts. John Burgess joined him from Candover, the US and UK buyout house, a month after.{{Cite web|title=Deploying Europe's biggest buyout fund|url=https://www.buyoutsinsider.com/deploying-europes-biggest-buyout-fund-2/|last=Meikle|first=Brad|date=2000-10-01|website=Buyouts|language=en-US|access-date=2020-05-31}} The principals of Baring Capital Investors completed a spinout of what would become BC Partners following the collapse of Barings in 1995.{{cite web |last1=Smith |first1=Elliot |title=The Barings collapse 25 years on: What the industry learned after one man broke a bank |url=https://www.cnbc.com/2020/02/26/barings-collapse-25-years-on-what-the-industry-learned-after-one-man-broke-a-bank.html |website=CNBC |accessdate=16 June 2020 |date=26 February 2020}} Van der Wyck left the firm in 2001, and has held senior roles with firms including Coller Capital, Climate Change Capital and AlpInvest Partners.
Significant transactions
File:Intelsat headquarters.JPG]]
File:Migros türk.jpg retail stores. The company is Turkey's leading supermarket chain.]]
{{asof|2019|12|31|post=,|df=US}} BC Partners portfolio includes 114 companies with aggregate sales revenue of €145 billion.{{Cite web|title=BC Partners {{!}} Private Equity Investments|url=https://www.bcpartners.com/private-equity-strategy/portfolio|access-date=2020-06-21|website=BC Partners|language=en}} BC Partners can commit over $2.75 billion (€2.0 billion) of equity to any single transaction. The firm's most successful and profitable realized 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 Phones 4u (leading mobile phone provider in the UK - until its bankruptcy in September 2014).
In June 2013, BC Partners agreed to buy German publisher Springer Science+Business Media for about 3.3 billion euros.{{cite news| url=https://www.reuters.com/article/us-springerscience-sale-idUSBRE95G17120130619| title=BC Partners to buy Springer Science for 3.3 billion euros|author1=Alexander Huebner |author2=Claire Ruckin |author3=Ludwig Burger |author4=Christoph Steitz | publisher=Reuters | date=19 June 2013}}
BC Partners revealed in January 2015 that it would sell its 40.25 percent stake in its supermarket chain Migros Türk to the Turkish conglomerate Anadolu Endustri Holding AS for around $2.74 billion.[https://www.reuters.com/article/us-bcpartners-migros-anadolu-idUSKBN0KA19R20150101 BC Partners to sell half of its stake in Migros to Turkey's Anadolu]. Reuters, 31 December 2014
In June 2019 Chewy, which was acquired by BC Partners in 2017, and is the online pet retailer division of PetSmart, announced its IPO on the NYSE when it was valued at $8.8 billion.{{Cite web|last1=Hirsch|first1=Lauren|last2=Lucas|first2=Amelia|date=2019-06-14|title=Chewy, PetSmart's online business, soars as much 86% after IPO pricing at $22 per share|url=https://www.cnbc.com/2019/06/14/chewycom-petsmarts-online-business-opens-at-36-after-pricing-at-22-per-share.html|access-date=2020-06-30|website=CNBC|language=en}}
In 2019, BC Partners announced their backing for the acquisition{{Cite web|url=https://www.ft.com/content/a275e632-dbc1-11e9-8f9b-77216ebe1f17|title=Bulgarian telecoms group Vivacom eyed in buyout battle|date=29 September 2019|website=Financial Times|accessdate=2019-10-27}} (via the United Group) of Vivacom, the largest Bulgarian telecom. The acquisition became an issue of the media and legal dispute with the company's previous owner, Empreno Ventures, which asked BC Partners{{Cite news|date=2019-10-25|title=Empreno Has Urged United Group and BC Partners of the Risks Pursuing Acquisition of Vivacom Pending Final Judicial Determination|url=https://www.bloomberg.com/press-releases/2019-10-25/empreno-has-urged-united-group-and-bc-partners-of-the-risks-pursuing-acquisition-of-vivacom-pending-final-judicial-determination|access-date=2019-10-27|newspaper=Bloomberg.com}} to wait until judicial resolution.
On November 7, BC Partners was added to a lawsuit by Empreno seeking to ban the sale of Vivacom.{{Cite web|url=https://finance.yahoo.com/news/1-united-group-buy-bulgarias-170942151.html|title=UPDATE 1-United Group to buy Bulgaria's Vivacom in $1.3 bln deal|website=finance.yahoo.com|date=7 November 2019 |language=en-US|access-date=2019-11-29}}
In early 2021, the firm entered into talks with Inter Milan owner Suning about potentially buying the football club.{{Cite web|date=2021-02-18|title=Suning In Talks With BC Partners Over Inter Sale & Bain Capital For Loan, Italian Media Explain|url=https://sempreinter.com/2021/02/18/suning-in-talks-with-both-bc-partners-bain-capital-for-different-reasons-italian-media-claim/|access-date=2021-02-28|website=SempreInter.com|language=en-US}}
References
{{Reflist}}
External links
{{Portal|Companies}}
- {{Official website|https://www.bcpartners.com}}
{{Private equity firms}}
{{Authority control|state=expanded}}
{{DEFAULTSORT:Bc Partners}}
Category:Private equity firms of the United Kingdom