Lion Capital LLP
Encyclopedia
Lion Capital LLP is a British private equity
firm, primarily focusing on leveraged buyout
investments in Europe. The firm specializes on investments in the consumer sector. Prior to the formation of Lion Capital, the firm had been the European affiliate of Hicks Muse Tate & Furst, one of the largest private equity firms of the 1990s
.
The firm is headquartered in London
, England, and has approximately 25 employees. Lion Capital has raised approximately €4.8 billion of investor capital since inception in 2004.
, Neil Richardson and Robert Darwent.
From 1998 to 2004, the firm's predecessor had served as the European affiliate of Hicks, Muse, Tate & Furst (now HM Capital
). The parent firm, Hicks Muse, which had been among the largest private equity firms in the 1990s struggled in the years immediately following the bursting of the internet and telecom bubbles
. Hicks Muse was often cited with Forstmann Little as the highest profile private equity casualties, having invested heavily in technology and telecommunications companies. Meanwhile, the European team which had raised a separate €1.475 billion fund (Hicks, Muse, Tate & Furst Europe Fund I) in 2000, continued to make successful investments in the consumer sector.
Prior to founding Lion Capital, two of the founders Lyndon Lea and Neil Richardson worked together at Glenisla, the European affiliate of Kohlberg Kravis Roberts from 1993 to 1998. In 1998, Lyndon Lea left to found the European operations of Hicks, Muse, Tate & Furst with co-founder Robert Darwent. In 2004, Neil Richardson left KKR to join Lion Capital, just prior to its launch as an independent private equity firm.
Among the firm's most notable investments are
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm, primarily focusing on leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
investments in Europe. The firm specializes on investments in the consumer sector. Prior to the formation of Lion Capital, the firm had been the European affiliate of Hicks Muse Tate & Furst, one of the largest private equity firms of the 1990s
Private equity in the 1990s
Private equity in the 1990s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.The...
.
The firm is headquartered in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, England, and has approximately 25 employees. Lion Capital has raised approximately €4.8 billion of investor capital since inception in 2004.
History
Lion Capital was founded in 2004 by Lyndon LeaLyndon Lea
Lyndon Lea is an English financier and investor, known for co-founding Lion Capital which specializes in making investments in the consumer sector.-Early life:...
, Neil Richardson and Robert Darwent.
From 1998 to 2004, the firm's predecessor had served as the European affiliate of Hicks, Muse, Tate & Furst (now HM Capital
HM Capital
HM Capital Partners is a private equity firm in the United States that specializes in leveraged buyouts. The firm, previously known as Hicks, Muse, Tate & Furst, was one of the largest financial sponsors of the 1990s. The firm was founded in 1989 by Tom Hicks and John Muse as Hicks, Muse & Co...
). The parent firm, Hicks Muse, which had been among the largest private equity firms in the 1990s struggled in the years immediately following the bursting of the internet and telecom bubbles
Dot-com bubble
The dot-com bubble was a speculative bubble covering roughly 1995–2000 during which stock markets in industrialized nations saw their equity value rise rapidly from growth in the more...
. Hicks Muse was often cited with Forstmann Little as the highest profile private equity casualties, having invested heavily in technology and telecommunications companies. Meanwhile, the European team which had raised a separate €1.475 billion fund (Hicks, Muse, Tate & Furst Europe Fund I) in 2000, continued to make successful investments in the consumer sector.
Prior to founding Lion Capital, two of the founders Lyndon Lea and Neil Richardson worked together at Glenisla, the European affiliate of Kohlberg Kravis Roberts from 1993 to 1998. In 1998, Lyndon Lea left to found the European operations of Hicks, Muse, Tate & Furst with co-founder Robert Darwent. In 2004, Neil Richardson left KKR to join Lion Capital, just prior to its launch as an independent private equity firm.
Investments
In 2005, the firm completed fundraising for its first private equity fund, Lion Capital Fund I, with commitments from institutional investors of €820 million. In 2007, Lion Capital raised its second private equity fund, Lion Capital Fund II, with approximately €2.0 billion of investor commitments. The principals of Lion Capital have invested over €4 billion of equity capital in over forty transactions since the early 1990s.Among the firm's most notable investments are
- Acquired 76% of AllSaints Spitalfields in 2011 for £105 million;
- Bought WeetabixWeetabixWeetabix is a whole grain wheat breakfast cereal produced by Weetabix Limited of the United Kingdom. It comes in the form of palm-sized biscuits. Variants include organic and Weetabix Minis versions. The UK cereal is manufactured in Burton Latimer, Kettering, United Kingdom and in Canada and...
in 2004 for £640 million - Sold WagamamaWagamamaWagamama is a British-headquartered restaurant chain, serving pan-Asian food in the style of a modern Japanese Ramen bar.-History:Created by Alan Yau, who subsequently created the Chinese restaurants Hakkasan and Yauatcha in London, the first Wagamama opened in 1992 off Gower Street in...
in 2011 for £215 million - HEMAHema (store)HEMA is a Dutch dimestore chain. It was part of the Maxeda company until June 2007, when it was bought by Lion Capital LLP...
, Dutch department store chain - Sold OranginaOranginaOrangina is a carbonated citrus beverage made from orange, lemon, mandarin, and grapefruit juice. The concept of Orangina originated at a trade fair in France and was first marketed in Algeria by the French Algerian Léon Beton...
Schweppes for €2.6 billion in 2009 - Sold Jimmy ChooJimmy ChooDato' Jimmy Choo, OBE, born Choo Yeang Keat, is a Malaysian fashion designer based in London, United Kingdom. He is best known for founding Jimmy Choo Ltd that became known for its handmade women's shoes....
in 2007 for £185 million; - Sold Kettle Chips in 2010 for $615 million
- Invested $80 million in American ApparelAmerican ApparelAmerican Apparel is a clothing manufacturer in the United States. It is a vertically integrated clothing manufacturer, wholesaler, and retailer that also performs its own design, advertising, and marketing...
in 2009 - Young's SeafoodsYoung's BluecrestYoung's Seafood Ltd. is a British producer and distributor of frozen, fresh, and chilled seafood, supplying approximately 40% of all the fish eaten in the United Kingdom every year. It is headquartered in Grimsby, England....
, BritishUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
frozen foodFrozen foodFreezing food preserves it from the time it is prepared to the time it is eaten. Since early times, farmers, fishermen, and trappers have preserved their game and produce in unheated buildings during the winter season. Freezing food slows down decomposition by turning water to ice, making it...
company - Purchased Bumble Bee Foods for $980 million in 2011
External links
- Lion Capital (company website)