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Madison Dearborn Partners
Type Private Ownership
Founded 1992
Headquarters Flag of the United States.svg Chicago, Illinois
Industry Private Equity
Products Leveraged Buyout
Total assets $14 billion [1]
Employees 50+ (2007)
Website www.madisondearborn.com

Madison Dearborn Partners (MDP) is a private equity firm specializing in leveraged buyouts of privately held or publicly traded companies, or divisions of larger companies; recapitalizations of family-owned or closely held companies; balance sheet restructurings; acquisition financings; and growth capital investments in mature companies.

Contents

History

Madison Dearborn Partners was founded in 1992 and is based in Chicago, Illinois. The founders of Madison Dearborn had previously made private equity investments for First Chicago Bank.[2]

Madison Dearborn's chairman, John Canning, Jr., is also a minority owner of the Milwaukee Brewers baseball team and submitted an ultimately unsuccessful bid to buy the Chicago Cubs[3] [4]

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Investments

History of private equity
and venture capital
Objectivist.jpg

Early History
(Origins of modern private equity)

The 1980s
(LBO boom)

The 1990s
(LBO bust and the VC bubble)

The 2000s
(Dot-com bubble to the Credit crunch)

  

In 2007, the firm joined forces with Michael Eisner's Tornante investment company to buy out baseball card maker The Topps Company.[5]

Madison Dearborn completed leveraged buyout transactions for a number of publicly traded and other significant companies in 2006 and 2007 including:

  • Sorenson Communications

Bell Canada

On June 30, 2007, Bell Canada Enterprises (BCE) announced that the company entered into a definitive agreement for BCE to be acquired pursuant to a plan of arrangement by an investor group led by Teachers Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, Providence Equity Partners Inc. and Madison Dearborn Partners. The all-cash transaction is valued at C$51.7 billion (US$48.5 billion), including C$16.9 billion (US$15.9 billion) of debt, preferred equity and minority interests. The arrangement was approved on September 21, 2007 at a Special Meeting of shareholders by more than 97% of the votes cast by holders of common and preferred shares, voting as a single class.[10]

Investment funds

MDP invests through a series of private limited partnerships and its investors include a variety of pension funds, endowments and other institutional investors:

  • 1993 - Madison Dearborn Capital Partners ($550 million)
  • 1997 - Fund II ($925 million)
  • 1999 - Fund III ($2.2 billion)
  • 2000 - Fund IV ($4.1 billion)
  • 2006 - Fund V ($6.5 billion)
  • 2008 - Fund VI (TBD)

Source: Preqin [11][12]

References

  1. ^ Capital raised since inception in 1992
  2. ^ COMPANY NEWS; Fund Venture Begun in Chicago (New York Times, 1992)
  3. ^ Is John Canning Jr. the next John Henry? (TheDeal.com, 2007)
  4. ^ Brewers stakeholder in the fan business (Milwaukee Journal Sentinel)
  5. ^ A Bid for Topps, the Baseball Card Company (New York Times, 2007)
  6. ^ Equity Firm to Acquire Net Retailer (New York Times)
  7. ^ Mutual Fund Manager Agrees to Buyout (New York Times, 2007)
  8. ^ Madison Dearborn part of winning $12.3B bid for Univision (Chicago Business News, Analysis & Articles, 2006)
  9. ^ Candle Maker Accepts a Buyout Offer (New York Times, 2006)
  10. ^ Privatization of BCE
  11. ^ Preqin
  12. ^ Madison Dearborn Partners Overview

External links


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