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Cinven
Type Private
Founded 1977
Headquarters Flag of the United Kingdom.svg London
Key people Hugh Langmuir, Managing Partner
Industry Private Equity
Products Leveraged buyouts
Website www.cinven.com

Cinven is a European private equity firm founded in 1977 with offices in London, Paris, Frankfurt, Milan and Hong Kong. Currently, the company has raised four funds, with the last one signing up €6.5 billion. Cinven is solely focused on European acquisitions and buyouts, with investment coming from over 150 institutional investors from 23 countries.

Cinven’s funding base originally came solely from three UK pension funds (British Coal, the Railway Industry and Barclays Bank) who remain as important partners.[1] Cinven has been reported to originally stand for Coal Investment Nominees' for Venture Capital.[2]

Cinven invests in six sectors on an international basis: Business Services; Consumer; Financial Services; Healthcare; Industrials; and TMT.

Investments

Cinven is one of the largest and most influential private equity firms in Europe. Some of their recent acquisitions include:

  • Avio — In 2006, Cinven purchased Avio from Carlyle and Finmeccanica for an enterprise value of €2.6 billion.
  • Spire Healthcare (previously BUPA Hospitals) — In June 2007, BUPA announced that it had agreed to sell its hospitals business, comprising 25 hospitals, to Cinven for £1.44 billion ($2.8 billion/€2.13 billion).[3]. Spire has since acquired the Classics Hospital Group for GBP 145 million, as well as a single site hospital in Gerrards Cross, England.
  • Gala Coral — the bingo and casino operator was acquired for just over €5 billion as part of a joint venture with Candover and Permira
  • Gondola Holdings — acquired in 2007 for €1.36 billion, Gondola is the market leader in the UK casual dining sector, with brands such as Pizza Express, ASK, Zizzi and Byron.
  • Springer Science+Business Media — together with Candover, bought the academic publishers Springer-Verlag and Kluwer Academic Publishers in 2003 and united them under the name Springer Science+Business Media.

References

  1. ^ The fourth Cinven fund completes fundraising at €6.5 billion, Cinven press release,30 June 2006
  2. ^ Cinven looks to rejoin industry's top league. Dow Jones Financial News, September 8, 2008
  3. ^ BUPA agrees hospitals sale, BUPA press release, 18 June 2007

External links

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