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Charterhouse Capital Partners

From Wikipedia - Reading time: 7 min
See also: Charterhouse Group

Charterhouse Capital Partners LLP
Company typeLimited liability partnership
IndustryPrivate equity
Founded1934
HeadquartersLondon, England
ProductsPrivate equity funds, Leveraged buyouts
Websitecharterhouse.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]

History

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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

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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]

References

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  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 XIPrivate Equity International
  3. ^ a b 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 £553mEvening Standard
  7. ^ Charterhouse nets more than 2.5x on Deb GroupPrivate Equity International
  8. ^ Charterhouse scores 5.25x on Card FactoryPrivate 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.
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