3i

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3i Group plc
Formerly
  • Finance for Industry Public Limited Company (1973–1983)
  • Investors in Industry Group plc (1983–1988) [1]
Company type Public limited company
ISIN GB00B1YW4409
Industry Corporate finance
Founded1945;79 years ago (1945)
Founder Bank of England and a syndicate of British banks
Headquarters London, England, UK
Key people
Services
Increase2.svg £4,579 million (2023) [3]
Increase2.svg £4,577 million (2023) [3]
AUM £22.9 billion (2023) [3]
Number of employees
c.250 (2024) [4]
Website 3i.com OOjs UI icon edit-ltr-progressive.svg

3i Group plc is a British multinational private equity and venture capital company based in London, England. 3i is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Contents

History

The company was formed in 1945, as the Industrial and Commercial Finance Corporation (ICFC), by the Bank of England and the major British banks to provide long-term investment funding for small and medium-sized enterprises. Its foundation was inspired by the Macmillan Committee, and resulted from the recognition in the 1930s, given new impetus in the postwar era, that smaller businesses faced a gap in available corporate finance due to banks being unwilling to provide long-term capital and the companies being too small to raise capital from the public markets. [5]

During the 1950s and 1960s, and particularly after 1959 when the shareholder banks allowed it to raise external funds, ICFC expanded significantly. In 1973 ICFC acquired Finance Corporation for Industry, a sister company also formed in 1945 which focused on finance for large companies, and was renamed Finance for Industry (FFI). In the 1980s, FFI became a leading provider of finance for management buyouts, and expanded internationally. In 1983 the company was renamed Investors in Industry, commonly known as 3i. [6]

3i Group was created in 1987 when the banks sold off their stakes to form a public limited company. In 1994 the company was floated on the London Stock Exchange with a market capitalisation of £1.5  billion. [7]

Operations

3i invests in mid-market buyouts, growth capital (minority) and infrastructure. Sectors invested in are business and financial services, consumer, industrials and energy, and healthcare.

Current investments

Former investments

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References

  1. "3i Group plc overview - Find and update company information - GOV.UK". Companies House . 1 November 1973. Retrieved 6 August 2023.
  2. "Our People" . Retrieved 19 February 2021.
  3. 1 2 3 "Annual Results 2023" (PDF). 3i. Retrieved 11 February 2024.
  4. "Why join 3i?". 3i Group. Retrieved 11 February 2024.
  5. The Times, 24 January 1945
  6. The Times, 5 July 1983
  7. "Our History". 3i. Archived from the original on 14 February 2013. Retrieved 15 March 2015.
  8. 3i and Khazanah lead investment in ACR’s $620m inaugural private placement Alternative Assets, 1 December 2006
  9. 3i Proposes Preliminary Terms for Loans to Back Action Buyout Bloomberg Business Week 18 August 2011
  10. Ratcliffe, Madeline (21 December 2015). "3i hopes Audley Travel will take off with £159m investment". London: City AM. eISSN   2516-5453.
  11. "About ESP". ESP Utilities Group. Retrieved 9 July 2021.
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  13. 1 2 3 4 5 Portfolio 3i
  14. "Sale to private equity firm should bolster Q Holding Co". Crain's Cleveland Business. 20 November 2014. Retrieved 19 December 2014.
  15. 3i offers to take full control of Nordic ferry group Scandlines Financial Times 12 September 2013
  16. 3i Group sells ferry operator Scandlines, buys backs stake Reuters 26 March 2018
  17. 3i Announces First North American Infrastructure Transaction with Investment in Smarte Carte Smarte Carte 16 October 2017
  18. HG Capital secures stake in 3i-owned VNU Media Reuters 3 August 2009
  19. 3i invests €250m in Weener Plastic Packaging Group Archived 7 June 2015 at the Wayback Machine 3i 4 June 2015
  20. Agent Provocateur sold to private equity firm 3i for £60m The Independent 16 November 2007
  21. 3i races to clinch sale of struggling Agent Provocateur Sky News 23 February 2017
  22. 3i divests stake in digital TV operator Boxer 3i 19 November 2008
  23. MBO preferred for Chiltern Rail Privatisation News issue 32 13 June 1996 page 1
  24. Last management buy-out rail franchise prepares to be sold Rail issue 350 10 February 1999 page 11
  25. 3i divests interest in Finnish telecoms operator DNA Oy 3i 18 December 2009
  26. Dockwise to list in Amsterdam, 3i exits Reuters 19 October 2009
  27. Eco adviser ERM sold to Charterhouse Capital Partners The Guardian 16 May 2011
  28. News in Brief Railway Gazette International December 2010 page 21
  29. Eversholt sold Today's Railways UK issue 159 March 2015 page 14
  30. Foster once again wholly owned after 3i buy-out Architects' Journal 30 June 2014
  31. Manager's bid wins Freightliner Rail issue 279 22 May 1996 page 6
  32. Bahrain investment firm Arcapita buys Freightliner Rail issue 595 2 July 2008 page 19
  33. 3i invests in Giraffe restaurant chain 3i 23 October 2006
  34. Tesco buys child-friendly restaurant chain Giraffe for £50m The Guardian 13 March 2013
  35. Wisconsin scoops freight as franchisees are chosen Railway Gazette International February 1996 page 69
  36. Great Western Trains taken over by FirstGroup The Railway Magazine issue 1165 May 1998 page 11
  37. Davis offloads HSS tool hire to 3i The Guardian 17 December 2003
  38. HSS rejuvenated and sold to Aurigo and Och-Ziff 3i 13 June 2007
  39. 3i concludes successful partnership with Little Sheep 3i 25 March 2009
  40. 3i Sells Mayborn After 10-Year Holding Period Private Equity News 29 April 2016
  41. Caterpillar buys 3i's engine maker MWM for $810 million Reuters 22 October 2010
  42. Webb, Quentin (21 September 2010). "Green light for sale of UK parking-ticket firm NSL". Reuters. Archived from the original on 23 June 2022.
  43. 3i backed Petrofac in £742m flotation on London Stock Exchange 3i 4 October 2005
  44. 3i backed Salamander Energy in $405m IPO on London Stock Exchange 3i 5 December 2006
  45. 3i to snap up SLR Consulting The Times 8 March 2008
  46. Target on road to £250m float Manchester Evening News 30 June 2005
  47. 3i divests stake in Telecity Group 3i 11 February 2010
  48. Titan Airways' management buyout completed Aviation Week & Space Technology 22 February 2013
  49. Croydon Tramlink go-ahead Railway Gazette International September 1996 page 547
  50. Croydon buy out Railway Gazette International April 2008 page 212
  51. Travellers Fare The Railway Magazine issue 1055 March 1989 page 144