2009年3月24日 星期二

Views from a private equity

BC Partners, a player in the large buy-out market, was set up in 1986 .
Currently it has 16 companies in its portfolio, including:

1. SGB, an electricity power transmission firm in Germany (2008)
2. Migros, Turkey's top supermarket chain (2 bln euros, started in the begining of 2008 and closed by the end of 2008)
3. Intelsat, a provider of fixed satellite services ($16.6 bln, 2008)
4. Bureau Van Duk, a Belgium financial information provider of private firms (2007)
5. Foxtons, UK's estate agent (100 mln stg on acquisiton, 2007)
6. Brenntag, a Germany chemical distributor (5.3 bln turnover on acquition, 2006)
7. Medica, a French operator of nursing, psychiatric and post-operative care homes (750 mln euros, 2006)
8. Regency, A casino operator in Greece (1 bln euros, 2006)
9. Fitness First, a UK fitness club (1.2 billion euros, 2005)
10. Amadeus, a torisum distribution system operator in Spain (4.3 bln euros, 2005)
11. Dometic, recreational vehicle and pleasure boat supplier (Sweden, 1.1 bln euros, 2005)
12. Picard, a frozen food distributor in France (1.3 bln euros, 2004)
13. Centro Medico Texnon, Barcelona's private hospital acquired from Tenent Health sys (90 mln euros, 2004)
14. BAXI, a heating products firm in UK (984 mln euros, 2004)
15. Pagine Gialle, an Italian directory service group, yellow pages (5.7 bln euros, 2003)
16. Unitymedia, second largest cable firm in Germany (2.9 bln euros, 2003)

Have a chat with partner Andrew Newington, he said companies were still not facing the reality and asking for out-of-touch prices.

He expects the IPO market to remain largely shut until the end of 2010.