Alchemy Partners
Encyclopedia
Alchemy Partners is a British private equity firm
, which specialises in leveraged
management buyouts, management buy-ins
and the provision of later stage development capital.
Alchemy was founded in 1997 by Martin Bolland and Jon Moulton
. It has raised eight funds with over £850 million in investor commitments and advised on over 100 completed transactions involving £2.0 billion of equity.
Alchemy came to public notice in 1999, when it was negotiating to buy Rover Group
from BMW
; it advisory board members included former Rover MD Kevin Morley
. After public protests, the discussions were abandoned when the government imposed additional conditions to the transaction.
Since 2006 Alchemy has also invested in distressed debt and special opportunities.
Alchemy is structured as an advisory business based in London, Alchemy Partners LLP, which advises a fund manager based in Guernsey
, Alchemy Partners (Guernsey) Ltd.
Moulton picked Dominic Slade as his successor, direct from Harvard Business School
. After Bolland retired in 2007, Moulton proposed to retire in October 2010, on his 60th birthday. But after disagreeing with the forward strategy defined by Slade and proposing to delay his retirement, Moulton was ousted in a partner meeting in September 2009. Slade took over as Managing Partner, defining a strategy to take the business forward as a specialist financial services firm. Subsequently in a letter directly to shareholders, Moulton resigned in September 2009, saying it is "not what it was" and that he disagreed with the plans. Moulton also apologised to investors for making "too many investment and people errors."
Private equity firm
A private equity firm is an investment manager that makes investments in the private equity of operating companies through a variety of loosely affiliated investment strategies including leveraged buyout, venture capital, and growth capital...
, which specialises in leveraged
Leverage (finance)
In finance, leverage is a general term for any technique to multiply gains and losses. Common ways to attain leverage are borrowing money, buying fixed assets and using derivatives. Important examples are:* A public corporation may leverage its equity by borrowing money...
management buyouts, management buy-ins
Management buy-in
A management buy-in occurs when a manager or a management team from outside the company raises the necessary finance, buys it, and becomes the company's new management. A management buy-in team often competes with other purchasers in the search for a suitable business...
and the provision of later stage development capital.
Alchemy was founded in 1997 by Martin Bolland and Jon Moulton
Jon Moulton
Jon Moulton is a British venture capitalist. He is the founder and managing partner of the private equity firm Better Capital, and is the former managing partner of the private equity firm Alchemy Partners...
. It has raised eight funds with over £850 million in investor commitments and advised on over 100 completed transactions involving £2.0 billion of equity.
Alchemy came to public notice in 1999, when it was negotiating to buy Rover Group
Rover Group
The Rover Group plc was the name given in 1986 to the British state-owned vehicle manufacturer previously known as British Leyland or BL. Owned by British Aerospace from 1988 to 1994, when it was sold to BMW, the Group was broken up in 2000 with the Rover and MG marques being acquired by the MG...
from BMW
BMW
Bayerische Motoren Werke AG is a German automobile, motorcycle and engine manufacturing company founded in 1916. It also owns and produces the Mini marque, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad and Husqvarna brands...
; it advisory board members included former Rover MD Kevin Morley
Kevin Morley
Kevin Morley , is an English businessman, known for being the former Managing Director of the former Rover Group.Holding an MSc...
. After public protests, the discussions were abandoned when the government imposed additional conditions to the transaction.
Since 2006 Alchemy has also invested in distressed debt and special opportunities.
Alchemy is structured as an advisory business based in London, Alchemy Partners LLP, which advises a fund manager based in Guernsey
Guernsey
Guernsey, officially the Bailiwick of Guernsey is a British Crown dependency in the English Channel off the coast of Normandy.The Bailiwick, as a governing entity, embraces not only all 10 parishes on the Island of Guernsey, but also the islands of Herm, Jethou, Burhou, and Lihou and their islet...
, Alchemy Partners (Guernsey) Ltd.
Moulton picked Dominic Slade as his successor, direct from Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
. After Bolland retired in 2007, Moulton proposed to retire in October 2010, on his 60th birthday. But after disagreeing with the forward strategy defined by Slade and proposing to delay his retirement, Moulton was ousted in a partner meeting in September 2009. Slade took over as Managing Partner, defining a strategy to take the business forward as a specialist financial services firm. Subsequently in a letter directly to shareholders, Moulton resigned in September 2009, saying it is "not what it was" and that he disagreed with the plans. Moulton also apologised to investors for making "too many investment and people errors."