BC Partners is a private equity firm specialising in buyouts and acquisitions financing in Europe and the United States. The firm invests across all industries. BC Partners was founded in 1986 and is based in London with additional offices in New York City; Paris; Milan and Hamburg. Since inception, BC Partners has completed 105 private equity investments in companies with a total enterprise value of €130 billion and is currently investing its tenth private equity fund.
|Private limited company|
|Predecessor||Baring Capital Investors|
|Founder||Otto van der Wyck|
New York City
|Raymond Svider (New York)|
Francesco Loredan (Europe)
|Products||Private equity funds, Leveraged buyout|
|Total assets||~ $23 billion USD|
Number of employees
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. 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. The firm's most recent fund, BC Partners X, was one of the largest buyout funds raised in 2018. Despite its large size, the firm is known for its operational efficiency, boasting an incredibly high amount of assets under management per investment professional. For example, the London and New York City office are run by less than 30 and 20 private equity investment professionals respectively. The firm is speculated to employ 50 - 100 investment professionals for every 500 employed by firms it regularly competes with.
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. Sometime between 2008 and 2018 BC capital Partners sold all of Intelsat to the company.
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 was formed by Barings to advise funds providing development capital, in particular for management buyouts. The principals of Baring Capital Investors completed a spinout of what would become BC Partners following the collapse of Barings in 1995. Van der Wyck left the firm in 2001 and has held senior roles with firms including Coller Capital, Climate Change Capital and AlpInvest Partners. BC is currently investing from its 10th private equity fund.
|Raised / Announced Fund||Vintage Year||Fund Size (USD)|
|BC Partners X||2018||$8.7 billion|
|BC Partners IX||2012||$8.6 billion|
|BC Partners VIII||2005||$8.4 billion|
|BC Partners VII||2001||$5.4 billion|
|BC Partners VI||1997||$1.1 billion|
|BC Partners V||1994||$1.1 billion|
BC Partners portfolio includes 17 companies with aggregate sales revenue of US$35 billion (€28 billion). BC Partners can commit over $2.75 billion (€2.0 billion) of equity to any single transaction. The firm's most successful and profitable realised 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 2019, BC Partners announced their backing for the acquisition (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 to wait until judicial resolution.
On November 7, BC Partners was added to a lawsuit by Empreno seeking to ban the sale of Vivacom.
|Year||Company Name||Description of BC Partners Transaction\|
|2018||GFL Environmental||$5.1 billion for majority stake in waste services company GFL Environmental.|
|2018||The United Group||$2.6 billion for majority stake in telecom provider The United Group.|
|2018||Navex Global||Acquisition of ethics and compliance software and services company NAVEX Global from Vista Equity Partners|
|2017||Chewy||$3.4 billion for the e-commerce company specializing in pet products - largest e-commerce acquisition in history |
|2016||CenturyLink||$2.3 billion acquisition of data center operations.|
|2016||Keter||$1.3 billion for the acquisition of 80%|
|2014||Cartrawler||Car rental technology platform bought from ECI Partners|
|2014||PetSmart||$8.7 billion acquisition of pet services and products vendor|
|2013||Acuris||Acquisition of MergerMarket, now called Acuris, news service from Pearson plc|
|2012||Sullair Milton Roy Sundyne||$3.4 billion LBO of industrial business engaged in the design, manufacture and supply of specialist pumps and compressors|
|2012||Suddenlink||$6.5 billion LBO of 7th largest cable communications system operator in the US; sale of 70% interest in Suddenlink held by BC and Canada Pension Plan Investment Board for $9.1 Bn announced in May 2015|
|2011||Phones 4u||Bought for £700 million; entered into administration on 15 September 2014|
|2011||Com Hem||Largest LBO in Europe in 2011|
|2010||MultiPlan||$3.1 billion LBO of provider of health care cost management services|
|2009||Office Depot||provider of office products and services|
|2008||Migros Türk||Turkey's leading supermarket chain|
|2008||Intelsat||$16.6 billion acquisition of fixed satellite service provider|
|2007||Foxtons||UK estate agency, bought at the top of the property market in May 2007 for £370 million In December 2009, BC Partners lost control of Foxtons, less than three years after buying it, after creditors reorganized the real estate broker's debt.|
|2006||Brenntag||Second largest LBO in Germany to date|
|2006||Regency Entertainment||Largest public-to-private LBO in Greece to date|
|2005||Amadeus IT Group||Largest LBO in Spain to date|
|2004||Picard||Largest LBO in France that year|
|2003||SEAT PG||Largest LBO in Europe at the time|
|2002||Hirslanden||Largest LBO in Switzerland that year|
|2001||Sanitec||Largest public to private LBO in Finland to date|
|2000||Mark IV||Largest LBO in the US by a European sponsor at the time|
- "Home". BC Partners.
- "Blackstone, BC Partners, CVC Mull Bids for Kabel Deutschland". Retrieved 2010-01-27.[permanent dead link]
- "PE HUB » Reuters – CVC Capital, BC Partners Ready Bid for Elior". PE HUB. 2013-02-20.
- "BC Partners ramping up for next fundraising". Buyouts Insider / Argosy Group LLC.[permanent dead link]
- Dowd, Kevin. "The 6 biggest buyout funds of 2018 (so far)". Pitchbook.
- Maverick, J.B. "The 4 biggest private equity firms in London". Investopedia.
- "Intelsat Chairman Resigns; Succeeded By BC Partners Exec". BN. Archived from the original on 2011-07-08. Retrieved 2008-05-03.
- Partners share BC success. eFinancialNews, November 9, 1998
- Dowd, Kevin. "The 6 biggest buyout funds of 2018 (so far)". Pitchbook.
- Scott, Mark. "BC Partners Raises $8.6 Billion Fund". The New York Times.
- Alexander Huebner; Claire Ruckin; Ludwig Burger; Christoph Steitz (19 June 2013). "BC Partners to buy Springer Science for 3.3 billion euros". Reuters.
- BC Partners to sell half of its stake in Migros to Turkey's Anadolu. Reuters, 31 December 2014
- "Bulgarian telecoms group Vivacom eyed in buyout battle". Financial Times. 29 September 2019. Retrieved 2019-10-27.
- "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2019-10-27.
- "UPDATE 1-United Group to buy Bulgaria's Vivacom in $1.3 bln deal". finance.yahoo.com. Retrieved 2019-11-29.
- BC Partners, Current Investments Archived 2013-02-18 at the Wayback Machine
- "GFL Environmental Inc. announces $5.125 Billion recapitalization with new investors led by BC Partners and their partner OTPP".
- "KKR prodao većinski udeo Junajted grupe, SBB ima novog suvlasnika". b92.net (in Serbian). Beta. 27 September 2018. Retrieved 3 October 2018.
- Kellaher, Colin (2018-07-17). "BC Partners to Acquire Compliance-Software Firm Navex Global". Wall Street Journal. Retrieved 2019-07-03.
- Del Rey, Jason (10 July 2017). "PetSmart is acquiring Chewy.com for $3.35 billion in the largest e-commerce acquisition ever". Vox. Retrieved 2019-07-03.
- Aycock, Jason (2016-11-04). "CenturyLink has deal to sell data centers for near $2.3B". Seeking Alpha. Retrieved 2016-12-19.
- Editorial, Reuters. "RLPC-BC Partners to buy majority stake in CarTrawler". U.K. Retrieved 2017-08-31.
- "BC Partners to acquire PetSmart for $8.7 billion" (Press release). Reuters. 14 December 2014.
- https://www.ft.com/content/396ca876-58e9-11e3-a7cb-00144feabdc0. Missing or empty
- "PE HUB » BC Partners, Carlyle Complete Hamilton Sundstrand Deal". PE HUB. 2012-12-14.
- Scott, Mark. "Group Led by BC Partners to Buy U.S. Cable Operator for $6.6 Billion". The New York Times.
- Scott, Mark, and Emily Steel, "Altice’s Deal to Buy Suddenlink May Be Prelude to Pursuit of Time Warner Cable", New York Times, May 20, 2015. Retrieved 2015-05-21.
- "Retailer Phones 4u 'Forced Into Administration'". Sky News.
- "Phones4U closure". Evernote.
- Blackhurst, Chris (15 September 2012). "What Foxtons founder Jon Hunt did next..." Evening Standard.
Hunt...sold the estate agencies chain for £370 million just weeks before the credit crunch hit and the property market slumped...His timing was brilliant.
- "Foxtons taken over by banks". The Daily Telegraph. London. 2010-01-08. Retrieved 14 June 2015.