Cinven
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Cinven is a European private equity firm founded in 1977 with offices in London, Paris, Frankfurt and Milan. The Third Fund, which closed in 2002, raised €4.4bn. Cinven is solely focused on European acquisitions and buyouts, with investment coming from over 100 institutional investors from 19 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.
[edit] Acquisitions
Cinven is one of the largest and most influential private equity firms in Europe. Some of their recent acquisitions include:
- Avio S.p.A.: In 2006, Cinven purchased Finmeccanica's share of Avio S.p.A. for €432 million, giving it a 30% stake in the Italian aero engine, rocket, and electronics manufacturer[2].
- 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]
- Gondola Holdings: in 2007 which operates three brands in the eat-in premium pizza/pasta segment - Pizza Express, ASK and Zizzi
- 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.
[edit] References
- ^ The fourth Cinven fund completes fundraising at €6.5 billion, Cinven press release,30 June 2006
- ^ "Stake Out", Aviation Week & Space Technology, January 1, 2007.
- ^ BUPA agrees hospitals sale, BUPA press release, 18 June 2007
