March 01, 2015 6:22 AM ET

Capital Markets

Company Overview of Providence Equity Partners LLC

Company Overview

Providence Equity Partners LLC is a private equity firm specializing in growth capital, lower middle market, recapitalization of family-owned businesses, large leveraged buyouts, turnaround, distressed, mezzanine, and take-privates investments. It typically invests in media, entertainment, communications, education, Internet and Internet infrastructure, and digital media sectors. It also invests in technology enabled services, information and education technology companies. The firm invests globally in companies based across the world including Europe, North America, South America, Europe, and Asia Pacific with a focus on China. It primarily invests between $150 million and $800 million in i...

50 Kennedy Plaza

18th Floor

Providence, RI 02903

United States

Founded in 1989

Phone:

401-751-1700

Fax:

401-751-1790

Key Executives for Providence Equity Partners LLC

Chief Executive Officer
Age: 57
Senior Managing Director
Age: 52
Director
Chief Financial Officer and Managing Director
Age: 50
Managing Director, Chief Operating Officer, and Head-Portfolio Operations
Age: 49
Compensation as of Fiscal Year 2014.

Providence Equity Partners LLC Key Developments

Providence Equity Partners Considering Multiple Strategic Alternatives For World Triathlon

Providence Equity Partners LLC is considering multiple strategic alternatives for World Triathlon Corporation. “Providence Equity Partners LLC, owner of the parent of the grueling yet popular Ironman Triathlon race, is exploring options for the company including a potential sale or initial public offering,” according to people familiar with the matter. “Providence Equity's World Triathlon Corp, which owns the Ironman Triathlon franchise, has held talks with investment banks in recent weeks about appointing advisers that will help it explore its options,” the people said in week ending on February 25, 2015. “The asset could appeal to other private equity firms or companies that invest in content and live events,” the sources said. “World Triathlon Corp has annual earnings before interest, tax, depreciation and amortization of more than $50 million, and could be valued at more than 10 times that amount, including debt,” the people added. The sources asked not to be identified because the deliberations are confidential. Representatives for Ironman and Providence Equity declined to comment.

Discovery and FOXTEL Prepares Joint Bid For Ten

Discovery Communications, Inc. (NasdaqGS:DISC.A) and FOXTEL Cable Television Pty Limited are preparing a joint takeover offer for Ten Network Holdings Limited (ASX:TEN) (Ten) on December 2, 2014. Bid of Discovery and FOXTEL will not be fully binding, and is expected to be between AUD 0.25 and AUD 0.3 per share. Discovery and Foxtel remain the frontrunners in the auction for Ten, although whether any bid is successful will depend on the view of its independent Directors on the price offered. Bruce Gordon, largest shareholder in Ten signs that he is supportive of Foxtel taking a stake. Under the proposed deal, Foxtel would hold 14.9% with Discovery taking a majority stake. Ten's Independent Directors will meet to discuss bids received by deadline of December 2, 2014, and then seek shareholders’ approval in Ten's annual meeting on December 18, 2014. Several other bidders including Saban Capital Group, Inc., Anchorage Capital Group, L.L.C., Providence Equity Partners LLC, and Hellman & Friedman LLC are interested in Ten, however Hellman & Friedman is understood to have pulled out of the process. Citi has been retained as advisor by Ten.

Hellman & Friedman And Anchorage Capital Doesn't Met Ten

Helllman & Friedman LLC and Anchorage Capital Group, L.L.C. was due to meet with Ten Network Holdings Limited (ASX:TEN) regarding the bid. Helllman & Friedman and Anchorage Capital approached Providence Equity Partners LLC for a joint bid.

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