Charterhouse Capital Partners

Last updated

Charterhouse Capital Partners LLP
Company type Limited liability partnership
Industry Private equity
Founded1934
Headquarters London, England
Products Private equity funds, Leveraged buyouts
Website charterhouse.co.uk

Charterhouse Capital Partners is a London based private equity investment firm focused on investing in European mid-market companies valued between €200m and €1.5bn. [1] The company targets investments across the services, healthcare, specialised industrials and consumer sectors. [2]

Contents

History

Founded in 1934, [3] Charterhouse Capital Partners is one of Europe’s oldest private equity firms. [4] The firm's predecessors, then a division of Charterhouse Bank, began raising third party equity in 1976. [3] In June 2001, the firm's management completed a management buyout from HSBC to become an independent investment firm. [5]

Notable investment activity

In 2009, Charterhouse acquired Wood Mackenzie, selling its stake to Hellman & Friedman in 2012. [6]

In 2010, the company acquired Deb Group, a skincare product group, and sold its stake in 2015 to SC Johnson, reportedly earning a return of over 2.5x. [7]

In 2010, they acquired Card Factory, exiting its stake in 2015. [8]

In 2011, the company acquired ERM, and in 2015, sold its stake to Omers in a deal valued at $1.7 billion. [9]

In 2011, they acquired Webhelp, selling the company to KKR in 2015. [10]

In 2013, Charterhouse acquired Doc Generici, an Italian pharmaceutical business, selling in 2016 to CVC Capital Partners. [11]

In 2013, the company acquired Armacell in a €520 million deal and, in 2015, sold to a Blackstone led partnership in a deal valued at €960 million. [12]

In 2015, Charterhouse acquired Mirion Technologies, a radiation detection provider, for $750 million, and in June 2021, Mirion announced it would go public after merging with a Goldman Sachs backed SPAC in a deal valued at $2.6 billion. [13]

In 2016, the company acquired Cooper, a provider of generalist over-the-counter (OTC) self-care pharmaceuticals, and in March 2021 sold a majority stake to CVC. [14]

In 2017, the company acquired a majority stake in SERB, a Brussels headquartered specialty pharmaceuticals company. [15]

In 2018, they acquired a majority stake in Siaci Saint Honore (SSH), a B2B insurance broker, and sold in July 2021 to a consortium led by Burrus Group. [16]

In March 2018, the company acquired SLR Consulting, a UK environmental consultancy previously owned by 3i, becoming a major shareholder. [17]

In June 2019, Charterhouse disposed of Italian cheese maker and distributor Nuova Castelli, which had been in their possession since 2014, and which was acquired by the Lactalis Group Italia. [18] [19]

In December 2020, SERB pharmaceuticals, backed by Charterhouse Capital Partners, agreed to purchase Boston Scientific's BTG specialty pharma unit for $800m. [20] In the same month, the company acquired Inflexion Private Equity's minority stake in the UK pension provider Lane Clark & Peacock. [21]

Also in December 2020, Charterhouse concluded a deal with French banking group Crédit Mutuel Arkéa, for a stake in the Dutch software company Vermeg. [22]

In June 2022, Charterhouse disposed of SLR Consulting to a private equity fund managed by Ares Management. [23] [24]

In March 2023, in a cash and shares deal, Charterhouse sold the Irish Tarsus Group to Informa for a reported GBP 790m. [25] [26] [27]

In April 2023, the company’s sale of French telecom’s Sagemcom to a continuation fund backed by AlpInvest Partners was officially recorded. [28] In the same month, Charterhouse confirmed their investment in a management buyout of France Valley Investissements, the €4 billion forestry and real assets manager, together with Guillaume Toussaint and Arno Filhol and their management team, to support France Valley’s intended launch of ESG-linked products. [29] [30]

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References

  1. European buyout firms seek more than $80bn in crowded fundraising market Private Equity News
  2. Charterhouse eyes lower flagship target amid mid-market push for €2.5bn Fund XI Private Equity International
  3. 1 2 Jowett, Paul (2011). Private Equity: The German Experience. Palgrave Macmillan. p. 427. ISBN   978-1-349-35942-4.
  4. Porter, Kiel; Willmer, Sabrina (12 November 2013). "Charterhouse Heirs Struggle to Maintain Bonnyman Legacy". Archived from the original on 18 January 2016. Retrieved 18 January 2016.
  5. "Charterhouse sticks to its winning formula". Financial News. 12 January 2009. Retrieved 13 April 2017.
  6. Charterhouse buys WoodMac for £553m Evening Standard
  7. Charterhouse nets more than 2.5x on Deb Group Private Equity International
  8. Charterhouse scores 5.25x on Card Factory Private Equity International
  9. Charterhouse Capital sells ERM stake to Omers in $1.7 bln deal Reuters
  10. Charterhouse Triples Its Money on Webhelp Exit Private Equity News
  11. CVC acquires Doc Generici from Charterhouse Unquote
  12. Charterhouse sells Armacell to Blackstone-led partnership Reuters
  13. Goldman-backed SPAC to take Mirion Tech public in $2.6 bln deal Reuters
  14. Charterhouse in exclusive talks to sell control of French drugmaker Cooper Reuters
  15. Charterhouse Buys Belgium-Based Drug Company SERB Private Equity News
  16. Charterhouse to exit Siaci Saint Honoré to OTPP et al. Unquote
  17. "Charterhouse acquires 3i-backed SLR | Unquote". www.unquote.com. 26 March 2018. Retrieved 13 July 2023.
  18. "Charterhouse to sell Nuova Castelli to Lactalis Group Italia". dairyreporter.com. 3 June 2019. Retrieved 26 September 2023.
  19. "Lactalis acquires Italian cheese manufacturer Nuova Castelli". FoodBev Media. 31 May 2019. Retrieved 26 September 2023.
  20. Kellaher, Colin. "Charterhouse-backed SERB buys BTG specialty pharma unit for $800m". www.penews.com. Retrieved 15 July 2023.
  21. Mendonça, Elisângela. "Charterhouse backs UK pension consultancy LCP in £300m deal". www.penews.com. Retrieved 15 July 2023.
  22. Mendonça, Elisângela. "Exclusive: Charterhouse backs financial software provider Vermeg". www.penews.com. Retrieved 26 September 2023.
  23. "Charterhouse agrees sale of SLR to Ares Management". Environment Analyst Global. Retrieved 8 November 2023.
  24. Wansboro, David (20 June 2022). "Ares Management buys SLR Consulting from Charterhouse | PE Hub". PE Hub. Retrieved 8 November 2023.
  25. "Charterhouse exits Tarsus to Informa for GBP 790m EV | Unquote". www.unquote.com. 9 March 2023. Retrieved 28 September 2023.
  26. "Informa Acquires Tarsus Group in $940 Million Mega Deal". TSNN. Retrieved 28 September 2023.
  27. "Informa acquires Tarsus in $940m deal". Exhibition World. Retrieved 28 September 2023.
  28. "Charterhouse transfers Sagemcom to AlpInvest-backed continuation fund - filings | Unquote". www.unquote.com. 13 April 2023. Retrieved 27 September 2023.
  29. "Charterhouse Capital Partners Gets a Stake in France Valley Investissements - SWFI". www.swfinstitute.org. Retrieved 27 September 2023.
  30. "Charterhouse invests forestry and real assets manager France Valley". Real Assets. 21 April 2023. Retrieved 27 September 2023.