Advent International
Encyclopedia
Advent International is a global private equity
firm focused on buyout
s of middle market growth companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic restructuring opportunities and growth buyouts in five core sectors.
Since its inception in 1984, Advent has raised $26 billion (€19.4 billion) in private equity capital and, through its buyout programs, has completed more than 250 transactions valued at over $50 billion (€40 billion) in 35 countries.
Advent operates from offices in 17 countries, with affiliates in a further eight countries and employs over 200 investment professionals.
by Peter Brooke. Brooke had founded TA Associates
in 1968 after having expanded the venture capital
operations of TA's parent Tucker Anthony & R.L. Day. In 1985, Advent raised its first fund a $14m corporate venture capital program for Nabisco
. In 1987, the firm raised the $225 million International Network Fund, its first institutional private equity fund. The firm raised its first European fund in 1989, the $231 million European Special Situations Fund and opened its London office.
Advent continued its expansion in the 1990s, opening offices in Frankfurt
and Milan
and merging with UK-based Trinity Capital Partners. In 1994, Advent completed fundraising for the first of its flagship series of funds Advent Global Private Equity (GPE) II with $415 million. In 1996, Advent expanded into Latin America raising a dedicated Advent Latin American Private Equity Fund and opening offices in Buenos Aires
, Mexico City
, and Sao Paulo
.
Advent crossed the billion dollar mark in 1997, with the raising of the $1.2 billion Advent Global Private Equity (GPE) III and in the last few years of the 1990s, Advent raised additional sector funds focused on media and communications as well as healthcare & life sciences. Advent's founder, Peter Brooke, stepped down as the firm's CEO in 1996.
Through the 2000s, Advent's expansion accelerated as the firm raised additional funds for its various fund families and opening new offices in Europe and Asia. Advent's sixth Global Private Equity fund, raised in 2008 closed with €6.6 billion of investor commitments and the firm raised an additiona €1 billion for investments in central Europe.
in 2002 and has investments in the Fat Face
clothing brand and extended warranty firm Domestic & General.
In 2004, Advent-owned fund Viva Ventures bought the Bulgarian state-owned telecoms monopoly Bulgarian Telecommunications Company (now Vivacom). The company was sold to AIG in 2007.
Advent bought a majority ownership of Bradco Supply
, a leading distributor of building products in 2008.
Advent has acquired a number of companies in Central and Eastern Europe through its dedicated regional funds. These include Romanian Ceramica IASI, one of Romania’s leading ceramic bricks and clay roof tiles producers, Bolix, a leading Polish producer of building chemistry, Dufa Deutek, Romania’s largest decorative paints producer, and LaborMed Pharma, which manufactures and distributes generic pharmaceuticals primarily for cardiovascular and central nervous system aliments.
In 2007, Advent's Asia affiliate led the restructuring of Yangzijiang Shipbuilding, one of China's largest privately-owned shipbuilder, and successfully listed the company on the Singapore Stock Exchange; making it one of the largest IPO by a foreign company in Singapore.
In March 2009, Advent announced the acquisition of a controlling interest in Fifth Third Processing Solutions, the payment processing business of Fifth Third Bank
in a $2.35 billion transaction. The transaction represented one of the largest private equity transactions completed in 2009 amidst the Financial crisis of 2007–2010. The deal was completed in June 2009. For information on Advent International's additional investments visit >Advent International's Investments. In August 2010, Advent International was credited with spawing the takeover of Mexicana Airlines by an outside investor group. Advent International has no equity investment stakes in the takeover according to published sources.http://www.reuters.com/article/idUSN2117726720100821
In October 2011, Advent acquires Mondo Minerals Holding B.V.
, the second largest global talc producer.
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm focused on buyout
Buyout
A buyout, in finance, is an investment transaction by which the ownership equity of a company, or a majority share of the stock of the company is acquired. The acquiror thereby "buys out" control of the target company....
s of middle market growth companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic restructuring opportunities and growth buyouts in five core sectors.
Since its inception in 1984, Advent has raised $26 billion (€19.4 billion) in private equity capital and, through its buyout programs, has completed more than 250 transactions valued at over $50 billion (€40 billion) in 35 countries.
Advent operates from offices in 17 countries, with affiliates in a further eight countries and employs over 200 investment professionals.
History
Advent was originally founded in Boston, Massachusetts as a spin-out from TA AssociatesTA Associates
TA Associates, founded in 1968, is one of the oldest private equity firms in the United States. The firm employs a hybrid strategy making growth capital investments in developing companies and acquiring mature companies through leveraged buyout and recapitalization transactions...
by Peter Brooke. Brooke had founded TA Associates
TA Associates
TA Associates, founded in 1968, is one of the oldest private equity firms in the United States. The firm employs a hybrid strategy making growth capital investments in developing companies and acquiring mature companies through leveraged buyout and recapitalization transactions...
in 1968 after having expanded the venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
operations of TA's parent Tucker Anthony & R.L. Day. In 1985, Advent raised its first fund a $14m corporate venture capital program for Nabisco
Nabisco
Nabisco is an American brand of cookies and snacks. Headquartered in East Hanover, New Jersey, the company is a subsidiary of Illinois-based Kraft Foods. Nabisco's plant in Chicago, a production facility at 7300 S...
. In 1987, the firm raised the $225 million International Network Fund, its first institutional private equity fund. The firm raised its first European fund in 1989, the $231 million European Special Situations Fund and opened its London office.
Advent continued its expansion in the 1990s, opening offices in Frankfurt
Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
and Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
and merging with UK-based Trinity Capital Partners. In 1994, Advent completed fundraising for the first of its flagship series of funds Advent Global Private Equity (GPE) II with $415 million. In 1996, Advent expanded into Latin America raising a dedicated Advent Latin American Private Equity Fund and opening offices in Buenos Aires
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
, Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
, and Sao Paulo
São Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
.
Advent crossed the billion dollar mark in 1997, with the raising of the $1.2 billion Advent Global Private Equity (GPE) III and in the last few years of the 1990s, Advent raised additional sector funds focused on media and communications as well as healthcare & life sciences. Advent's founder, Peter Brooke, stepped down as the firm's CEO in 1996.
Through the 2000s, Advent's expansion accelerated as the firm raised additional funds for its various fund families and opening new offices in Europe and Asia. Advent's sixth Global Private Equity fund, raised in 2008 closed with €6.6 billion of investor commitments and the firm raised an additiona €1 billion for investments in central Europe.
Investments
Advent acquired the British variety store chain PoundlandPoundland
Poundland is a British-based variety store chain which sells every item in its stores for £1. Established in April 1990 by Dave Dodd and Stephen Smith, Poundland stock a variety of around 3,000 home and kitchen-ware, gifts, healthcare and other products, across 16 categories many of which are brand...
in 2002 and has investments in the Fat Face
Fat Face
Fat Face is a chain of clothing retailers selling its own branded products. The company has over 190 stores in the United Kingdom, with international stores in Singapore, Malaysia, the United Arab Emirates, Ireland, France, Kuwait, Oman and Qatar. The chain sells clothes aimed at men, women and...
clothing brand and extended warranty firm Domestic & General.
In 2004, Advent-owned fund Viva Ventures bought the Bulgarian state-owned telecoms monopoly Bulgarian Telecommunications Company (now Vivacom). The company was sold to AIG in 2007.
Advent bought a majority ownership of Bradco Supply
Bradco Supply
Bradco Supply is one of the three largest distributors of building materials, particularly roofing supplies and serves both the commercial and residential building markets. Bradco has annual sales in excess of $1.7 billion....
, a leading distributor of building products in 2008.
Advent has acquired a number of companies in Central and Eastern Europe through its dedicated regional funds. These include Romanian Ceramica IASI, one of Romania’s leading ceramic bricks and clay roof tiles producers, Bolix, a leading Polish producer of building chemistry, Dufa Deutek, Romania’s largest decorative paints producer, and LaborMed Pharma, which manufactures and distributes generic pharmaceuticals primarily for cardiovascular and central nervous system aliments.
In 2007, Advent's Asia affiliate led the restructuring of Yangzijiang Shipbuilding, one of China's largest privately-owned shipbuilder, and successfully listed the company on the Singapore Stock Exchange; making it one of the largest IPO by a foreign company in Singapore.
In March 2009, Advent announced the acquisition of a controlling interest in Fifth Third Processing Solutions, the payment processing business of Fifth Third Bank
Fifth Third Bank
Fifth Third Bank is a U.S. regional banking corporation, headquartered in Cincinnati, Ohio and is the principal subsidiary of holding company Fifth Third Bancorp ....
in a $2.35 billion transaction. The transaction represented one of the largest private equity transactions completed in 2009 amidst the Financial crisis of 2007–2010. The deal was completed in June 2009. For information on Advent International's additional investments visit >Advent International's Investments. In August 2010, Advent International was credited with spawing the takeover of Mexicana Airlines by an outside investor group. Advent International has no equity investment stakes in the takeover according to published sources.http://www.reuters.com/article/idUSN2117726720100821
In October 2011, Advent acquires Mondo Minerals Holding B.V.
Mondo Minerals Holding B.V.
Mondo Minerals is the world’s second largest producer of talc. Its main brands are Finntalc, Plustalc and Microtalc. The company develops and markets specialized additives for paper, paints and coatings, plastics, cordierite ceramics, consumables, personal care and pharmaceutical products...
, the second largest global talc producer.
External links
- Advent International (company website)