- Bain Capital
Infobox_Company
company_name = Bain Capital| company_
company_type = Private Ownership,Limited Liability Company
foundation =1984
founder =Mitt Romney , T. Coleman Andrews III,Eric Kriss
key_people =Fraser Bullock ,Robert F. White ,Joshua Bekenstein , Adam Kirsch,Stephen Pagliuca ,Geoffrey S. Rehnert
location = | industry =Private Equity
products =Private equity fund s,Leveraged buyout s,Investments
assets = $78 billion
homepage = [http://www.baincapital.com/ www.baincapital.com]
num_employees = 200+Bain Capital LLC is a
Boston -basedprivate equity firm founded in1984 by partners from the consulting firmBain & Company . Originally conceived as aleveraged buyout and venture capital fund, Bain Capital today manages over $78 billion in assets, and its strategies include private equity & venture capital as well as long/short public equity, credit products, and global macro hedge funds.History
Bain Capital was founded in 1984 by
Bain & Company partners WillardMitt Romney , T. Coleman Andrews III, andEric Kriss . In addition to the three founding partners, the early team includedFraser Bullock ,Robert F. White ,Joshua Bekenstein , Adam Kirsch,Stephen Pagliuca andGeoffrey S. Rehnert . Bain Capital's original $37 million fund was raised entirely from private individuals in mid-1984, led byRicardo Poma , a Salvadoran businessman.The firm's investment professionals evaluate potential deals based on a consulting-based
due diligence process that analyzes a company's financial performance, market growth potential, industry attractiveness, and competitive position. One of the fund's first start-up investments wasStaples, Inc. , the $15 billionoffice supply retailer . The funding enabled Staples to expand from one store in 1986 to nearly 1,700 in 2006.Twenty years after its inception, Bain Capital manages $50 billion in assets, and has founded, acquired, or invested in hundreds of companies including
Hustler Magazine ,AMC Entertainment ,Brookstone ,Burger King ,Burlington Coat Factory ,Domino's Pizza ,DoubleClick ,Guitar Center ,HCA , Sealy,The Sports Authority ,Toys R Us ,Unisource ,Warner Music Group and The Weather Channel.Recent Notable Investments
Some recent proposed and actual Bain Capital investments include (in reverse chronological order):
* 2008, Jul – Joins withThomas H. Lee Partners to purchaseClear Channel Communications .
* 2007, Sep – Joins with the Chinese networking companyHuawei Technologies in an attempt to acquire3Com for $2.2 billion in cash. [http://www.boston.com/business/ticker/2007/09/bain_capital_bu.html] However, they were unable to structure the deal to satisfy constraints set by Committee on Foreign Investment in the United States (CFIUS). In March 2008, Bain and Huawei abandoned the transaction. [http://www.channelregister.co.uk/2008/03/21/bain_and_huawei_drop_3com_deal/]
* 2007, Jun – Signs an agreement withGuitar Center to purchase the music retailer for $1.9 billion, plus $200 million in debt. The buyout will be for $63 per share, a 26% premium onJune 26 's closing price. The deal was approved by shareholders on September 18th, 2007 and closed October 9th, 2007. [http://www.thestreet.com/newsanalysis/retail/10365064.html?puc=googlefi]
* 2007, Jun – Agrees to acquireHome Depot Supply for $10.3 billion, along withCarlyle Group andClayton, Dubilier & Rice (with each agreeing to buy a one-third stake in the division).Home Depot sold their wholesale construction supply business to fund a stock repurchase estimated at $40 billion. [http://online.wsj.com/article/SB118226545165740543.html?mod=home_whats_news_us]
* 2007, Jun – AcquiresBavaria Yachtbau for a price rumored to be about €1.3B Euros. [http://www.sail-world.com/cruisingaus/index.cfm?nid=35266&rid=12]
* 2006, Nov –Clear Channel Communications agrees to be acquired by Bain Capital andThomas Lee Partners for nearly $19 billion. [http://today.reuters.com/news/articlenews.aspx?type=newsOne&storyID=2006-11-16T130113Z_01_N16247497_RTRUKOC_0_US-MEDIA-CLEARCHANNEL.xml]
* 2006, Aug – Joins the enlarged private equity consortium headed by KKR that agreed to acquire an 80.1% stake in the Semiconductor Division of Royal Philips Electronics. The new company is calledNXP Semiconductors .
* 2006, Apr – AcquiresBurlington Coat Factory Warehouse Corp., which operates more than 360 retail stores.
* 2005, Jun – Teams up withHaier Group, China's largest appliance maker, and private equity firmBlackstone Group in an attempt to acquireMaytag for over $1 billion. The bid was dropped a month later.
* 2005, Mar – Proposes a $3.5 billion buyout of all 30 teams in theNational Hockey League during the league's lockout. The offer was rejected. In June 2005, the company made a revised bid of $4.3 billion for the 30 teams and allow the current owners to maintain a stake in the league. This bid was also rejected.
* 2004, Nov – Purchases theDollarama chain ofdollar store s, based inMontreal ,Canada and operating stores in the provinces ofEastern Canada for $1.05 billion CAD.
* 2004, Mar – Acquires [http://www.brenntag.com Brenntag Group] from Deutsche Bahn AG (Exited in 2006; sold toBC Partners for $4B).
* 2003, Nov – Invests inWarner Music Group .
* 2003, Aug – PurchasesBombardier 's recreational products division , along with the Bombardier family and the Caisse de dépôt et de placement du Québec, and createdBombardier Recreational Products or BRP. Bain Capital took a 50% interest in the new company.
* 2002, Jul – AcquiresBurger King in July in aleveraged buyout withTPG Capital andGoldman Sachs Capital Partners.Affiliates
Bain Capital's family of funds includes
private equity ,venture capital , public equity and leveraged debt assets.*Absolute Return Capital (ARC) is the
global macro affiliate of Bain Capital managing approximately $600 million of capital. ARC manages assets in fixed income, equity and commodity markets to produce attractive risk-adjusted returns while maintaining low correlation to traditional investments.*Bain Capital Private Equity has raised nine funds and invested in more than 200 companies. The private equity activity includes
leveraged buyouts and growth capital in a wide variety of industries.*Bain Capital (Europe) Limited, an affiliate of Bain Capital, LLC, is dedicated to investment opportunities in the European market. Based in
London andMunich , and building off Bain Capital's successful European investment track record since 1987.*Bain Capital Ventures is the venture capital arm of Bain Capital, focused on seed through late-stage growth equity investing in software, hardware, information, healthcare, and technology-driven business services companies.
*Brookside Capital is the public equity affiliate of Bain Capital. Brookside's primary objective is to invest in securities of publicly traded companies that offer opportunities to realize substantial long-term
capital appreciation .*Sankaty Advisors, the
fixed income affiliate of Bain Capital, is one of the nation's leading private managers ofhigh yield debt obligations. With approximately $27 billion of committed capital, Sankaty invests in a wide variety of securities, including leveraged loans,high-yield bonds ,distressed securities ,mezzanine debt ,convertible bond s,structured products andequity investment s. [http://www.sankaty.com]External links
* [http://www.baincapital.com Company Website]
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