OpCapita
 | |
| LLP | |
| Industry | Finance |
| Headquarters | London, United Kingdom |
Area served | Global (with current focus on Europe) |
| Website |
www |
OpCapita is an international private investment firm based in London. It was founded by American financier Henry Jackson as Merchant Equity Partners (MEP) in 2006.
History
In October 2006, MEP acquired British furniture retailer MFI Group for £1.[1] In March 2008, MEP acquired French retailer BUT.[2] In December 2011, the firm changed its name to OpCapita, and purchased the electronics retailer Comet, from Kesa for £2 the previous month.[3]
In March 2012, OpCapita, through its subsidiary Baker Acquisitions, purchased Game UK out of administration.[4] A second subsidiary, Cherrilux Investments, was set up to buy Game's Spanish operations.[5] In October 2012, after a story about OpCapita considering a sale of Comet leaked to the press,[6] suppliers lost confidence in the chain, and it subsequently entered administration. By 18 December 2012, all of Comet's stores had ceased operations.
On 27 November 2013, it was announced that OpCapita had acquired NKD,[7] a 2,000 store retailer in Germany, Austria, Italy, Croatia and Slovenia. OpCapita Operating Partner John von Spreckelsen became the Senior Shareholder Representative.
On 19 May 2014, Game announced its intention to float on the London Stock Exchange.[8] OpCapita Operating Partner David Hamid, Chairman of Game, was quoted as saying, “The turnround of the Game business is remarkable.”[9] By December 2014, Game had a market value in excess of £600 million, or more than 12x what OpCapita had paid for the business in 2012.[10]
On 3 November 2014, OpCapita Consumer Opportunities Fund LP, OpCapita's first institutional fund raised from European and US investors, announced the acquisition of La Sirena Alimentacion Congelada S.L.U., the leading frozen food retailer in Spain. The price was not disclosed, but press reports suggested they paid €30 million. 3i had paid €150 million for the business in 2006.[11]
Financial News reported on 19 December 2014, that OpCapita had closed its début fund at just over £100M. [12] On 12 December 2014, Private Equity International announced it had nominated OpCapita for Special Situations Firm of the Year. [13] On 1 October 2015, OpCapita won Private Equity International's Operational Excellence Award for its successful turnaround of Game. [14]
Investments
Former investments
References
- ↑ Telegraph, MEP acquired MFI stores for £1
- ↑ Colony Capital, Goldman Sachs and Merchant Equity acquire BUT - Unquote France 1 Mar 2008
- ↑ Kesa's Comet suitor will raise funding-source - Reuters, 2 Dec 2011
- ↑ "Game Group shops sold to OpCapita". BBC News. 1 April 2012.
- ↑ Jessica Conditt (13 April 2012). "Game Iberia's 291 stores sold to UK buyer's 'sister company'". Joystiq. Retrieved 20 May 2012.
- ↑ BBC News (19 October 2012). "OpCapita 'exploring sale'- BBC News". BBC News.
- ↑ OpCapita Agrees Buyout of NKD - AltAssets, 28 November 2013
- ↑ OpCapita To Float Game - Real Deals 19 May 2014
- ↑ Game Retail confirms London listing plan - Financial Times 19 May 2014
- ↑ London Stock Exchange Game Digital Share Price
- ↑ OpCapita Buys Spanish Frozen Food Retailer - Financial Times 3 November 2014
- ↑ OpCapita Closes Début Fund - Financial News 19 December 2014
- ↑ Private Equity International 12 December 2014
- ↑ - Private Equity International 1 October 2015