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April 01, 2015 5:59 PM ET

Capital Markets

Company Overview of CVC Capital Partners Limited

Company Overview

CVC Capital Partners Ltd. is a private equity firm specializing in middle market, mature, expansion, successions, management buyouts, buyins, leveraged buyouts and buyins, recapitalization, restructuring, growth, growth equity, and acquisitions. The firm makes investments in medium to large sized companies. It seeks to invest in industrial and service sectors including telecommunications, information technology, electronics, biotechnology, medical, energy, chemistry, new materials, industrial automatisms, tech-enabled businesses such as human resources software, data centers or software as a-service, industrial goods and services, other manufactured goods, financial services, manufacturing, ...

111 Strand

London,  WC2R 0AG

United Kingdom

Founded in 1981

Phone:

44 20 7420 4200

Fax:

44 20 7420 4231

Key Executives for CVC Capital Partners Limited

Co-Founder, Managing Partner-Co-Head of Global Investments, Co-Chairman, Member of Europe and North America Investment Committee, and Member of Asia Pacific Investment Committee
Co-Founder, Managing Partner, Co-Head of Global Investments, Co-Chairman, Chairman of Investment Committee, Chairman of Portfolio Committee, and Member of Asia Pacific Investment Committee
Age: 58
Co-Founder, Co-Head of Private Equity Boards for Europe, North America & Asia, Co-Chairman, Deputy Chairman of the Europe/North America and Asia Pacific Private Equity Boards, Member of Management Committee, and Member of Asian Investment Committee
Age: 58
Co-Founder, Managing Partner, Director, Member of the Risk and Operations Committee
Partner of Professional Services and Head of Finance
Compensation as of Fiscal Year 2014.

CVC Capital Partners Limited Key Developments

KKR And CVC Reportedly Submit Best Bids For Pivovarna Lasko

KKR & Co. L.P. (NYSE:KKR) and CVC Capital Partners Limited reportedly submitted the best bids for a majority stake in Pivovarna Lasko DD (LJSE:PILR). The offers are said to value the entire brewer at €160-190 million, which is below the current market price. Further details will be made public on March 27, 2015, the daily said.

Investors Mull Bid For Center Parcs

Dalian Wanda Commercial Properties Co., Ltd. (SEHK:3699) and Fosun International Limited (SEHK:656)reportedly is seeking acquistion of Center Parcs (UK) Group Limited from The Blackstone Group L.P. (NYSE:BX). Blackstone is considering either selling Center Parcs to new backers or floating it on the London stock exchange. The owners are understood to have placed a price tag of around £2.5 billion on the businessThe Blackstone Group L.P. (NYSE:BX) has mandated Bank of America, Merrill Lynch Barclays PLC (LSE:BARC), Deutsche Bank AG (BUSE:DEUTSCHEBANK) and Morgan Stanley (NYSE:MS) to advise in the listing process of Center Parcs (UK) Group Limited. Rothschild was appointed to gauge appetite among suitors and has already received firm interest from at least three parties. As per sources, preliminary bids have been lodged by CVC Capital Partners Limited and BC Partners. The CVC Capital Partners is understood to be working with GIC Pte. Ltd., Singaporean sovereign wealth fund, while the latter has joined forces with KSL Advisors, LLC. Center Parcs (UK) Group Limited reported pre-tax earnings of £147 million in 2014.

DSM and CVC Capital Partners Announce Partnership for Polymer Intermediates and Composite Resins Through Formation of New Company

Royal DSM and CVC Capital Partners announced a partnership for DSM's activities in Polymer Intermediates (Caprolactam and Acrylonitrile) and Composite Resins through the formation of a new company, provisionally called NewCo. NewCo will be 65% owned by CVC and 35% by DSM, with 1,950 employees. Pro-forma third-party sales of NewCo in 2014 amounted to EUR 2.1 billion with a 2014 EBITDA of EUR 106 million. The enterprise value of the transaction is EUR 600 million plus an earn-out of up to EUR 175 million. Financing of NewCo will primarily be through an equity contribution from both shareholders, third party financing and a EUR 100 million bridge loan provided by DSM. Estimated net cash proceeds at closing to DSM of EUR 300-350 million. DSM will recognize an initial book loss of approximately EUR 130 million after tax and non-controlling interests, as an exceptional item in first quarter of 2015. Closing, subject to customary conditions and approvals, is expected in third quarter of 2015. DSM will contribute its global caprolactam business (Europe, North America, its 60% stake in DNCC (China) and the caprolactam licensing business), DSM's acrylonitrile business and DSM's Composite Resins business including its 75% stake in JDR (China). DSM's 65% stake in the service organization Sitech Services held via its caprolactam and acrylonitrile businesses will also be transferred. DSM Engineering Plastics has secured at least 80% of its caprolactam needs for 15 years after closing via drawing rights to secure its strategic position and competitiveness, effectively maintaining DSM Engineering Plastics' backward integration. For DSM, this proposed transaction is a logical step in the execution of its strategy as Polymer Intermediates (caprolactam, acrylonitrile) and Composite Resins no longer fit with its more resilient portfolio in Nutrition and Performance Materials. The partnership with CVC allows DSM to further reduce the cyclicality of its portfolio, secure a long-term competitive supply position of caprolactam for DSM Engineering Plastics and fully focus on the Nutrition, Performance Materials and Innovation activities complemented by accelerated actions to improve efficiencies and reduce costs. CVC will work with current management of these businesses to make NewCo a success. CVC sees these businesses as a solid platform with leading positions and substantial potential for future growth. As a 35% shareholder in NewCo, DSM will be able to benefit from any improvements in the businesses that will become part of NewCo. NewCo will continue to supply at least 80% of DSM Engineering Plastics' caprolactam needs in Europe and North America for the coming 15 years via a drawing rights contract, effectively maintaining DSM Engineering Plastics' backward integration. In China DSM Engineering Plastics will continue to be supplied by NewCo. This secures an ongoing strategic and competitive position for the polyamide 6 business in which DSM is a global leader. NewCo will operate as an independent company with three business units: caprolactam, acrylonitrile and composite resins. Pro-forma third party sales of NewCo amounted to EUR 2.1 billion in 2014 with an EBITDA of EUR 106 million, excluding non-controlling interests (DNCC, JDR and Sitech) of EUR 19 million and including the caprolactam licensing income. Due to the ownership change of DSM's caprolactam and acrylonitrile businesses, NewCo automatically becomes an indirect 65% shareholder in Sitech Services, the on-site service provider at the Chemelot Industrial Park in Sittard-Geleen (Netherlands). As a service provider, Sitech generally reinvests the majority of its profit into the Chemelot Industrial Park. DSM will remain a 5% shareholder in Sitech Services via DSM Engineering Plastics.

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