In a nod to Meghan Markle and Prince Harry’s royal wedding at St. George’s Chapel, Windsor, on Sat. May 19, Mergers & Acquisitions takes a look at 5 private equity firms headquartered in London: 3i, BC Partners, Bridgepoint Capital, Cinven and CVC.
Markle, who was born in Los Angeles, has made an impact on the world since she was 11, when her letters to Procter & Gamble Co. (NYSE: PG), covered by the local news, persuaded the consumer goods company to change its Ivory dishwashing soap commercials to say “people” instead of “women” were “fighting greasy pots and pans.”
Prior to her engagement, Markle, who is biracial and divorced, was best known as the character Rachel Zane of the Suits TV series and the star of two Hallmark movies: When Sparks Fly; and Dater's Handbook.
Markle is also well known for philanthropy. The royal wedding creates a “charity power couple,” declares the Chronicle of Philanthropy, citing Markle’s advocacy of women’s healthcare and work with the United Nations in Africa. “In lieu of wedding gifts, the couple has asked for donations to seven small organizations focused on women’s health, the environment, children of veterans, and more,” points out the publication.
3i is a U.K. investment company targeting investment opportunities across Europe and North America. The PE firm, one of the oldest private equity firms in Europe, is comprised of two complementary businesses consisting of private equity and infrastructure. 3i has roots dating back to 1945. In 2017, 3i-backed Cirtec Medical Systems purchased medical tube manufacturer Vascotube Gmbh.
BC Partners was founded in London in 1986 and has more $20 billion under management. Since it was founded, BC has completed 99 investments. In 2018, the firm agreed to buy dental care products maker Zest Dental Solutions from Avista Capital.
Bridgepoint Capital Group
Bridgepoint is the third largest private equity firm that is based in London and was founded in 1984. The firm focuses on the European middle market across the financial services, healthcare and consumer sectors, and invests in business that are valued up to $177 million. In 2018, the firm sold online payments provider Trustly to Nordic Capital.
Cinven is one of the top four London-based private equity firms. Founded in 1977, the firm’s original investor base consisted of three pension funds, including Barclays Bank. Cinven focuses on investing up to $150 million in European-based companies. In 2018, Cinven reached a deal to buy JLA, a provider of commercial laundry machines, food equipment and heating equipment.
CVC Capital Partners
Founded in 1981, originally as an investment division of Citigroup, CVC is one of the 10 largest private equity firms in the world. The firm has more than $65 billion in capital and completed more than 300 investments since it was formed. In 2017, CVC sold construction insulation materials manufacturer Paroc Group to Owens Corning for nearly $1 billion.