Vestar Capital Partners
Encyclopedia
Vestar Capital Partners is an American private equity
firm focusing on leveraged buyout
transactions in the United States
, Europe
and Asia
.
The firm, which was founded in 1988 is headquartered in New York City
with offices in Boston, Massachusetts, Denver, Colorado
in the US as well as Paris
, Milan
, Munich
and Tokyo
. The firm has approximately 95 employees across its various offices although its various portfolio companies employ more than 3,000 people worldwide.
’s Management Buyout Group. Six of the seven original founders, including Daniel O'Connell, Robert L. Rosner, James P. Kelley
, Norman Alpert, Sander Levy and Arthur Nagle are still with the firm.
The company was created in order to focus on long term leveraged buyouts instead of quickly flipping bonds
or securities. In fact, only 65 transactions have been completed by Vestar in its 20 year history. However, these 65 transactions have involved some $17 billion.
s with total investor commitments of approximately $7.3 billion. Of these five funds the first two have been fully invested and liquidated and as of 2008, Vestar V was currently being invested and Vestar IV was more than 90% invested:
, a leading supplier of electronic materials for flat screen TVs.
European deals include Sab Wabco, a manufacturer of brake systems, wheels and couplings for the railway industry, MediMedia, a content and marketing service provider in the healthcare and pharmaceutical industries, and Seves, a leader in the insulation market. Vestar Europe has also invested in OGF, a European leader in funerary services.
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 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...
transactions in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
and Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
.
The firm, which was founded in 1988 is headquartered in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
with offices in Boston, Massachusetts, Denver, Colorado
Denver, Colorado
The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...
in the US as well as Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
and Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
. The firm has approximately 95 employees across its various offices although its various portfolio companies employ more than 3,000 people worldwide.
History
Vestar was founded in 1988 by seven principals of The First Boston CorporationFirst Boston
First Boston Corporation was a New York-based, bulge bracket, investment bank, founded in 1932 and acquired by Credit Suisse in 1990. Together with its sister investment banks, it was referred to as CS First Boston after 1993 and part of Credit Suisse First Boston after 1996, the First Boston part...
’s Management Buyout Group. Six of the seven original founders, including Daniel O'Connell, Robert L. Rosner, James P. Kelley
James P. Kelley
James P. Kelley is President and partner of Vestar Capital Partners, along with Robert L. Rosner and Daniel O'Сonnell. Vestar today is a $7 billion private equity firm concentrating its investments in management buyouts, growth capital, and recapitalisations. Prior to the founding of Vestar in...
, Norman Alpert, Sander Levy and Arthur Nagle are still with the firm.
The company was created in order to focus on long term leveraged buyouts instead of quickly flipping bonds
Bond (finance)
In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
or securities. In fact, only 65 transactions have been completed by Vestar in its 20 year history. However, these 65 transactions have involved some $17 billion.
Investment funds
Since its inception in 1998, Vestar has raised five private equity fundPrivate equity fund
A private equity fund is a collective investment scheme used for making investments in various equity securities according to one of the investment strategies associated with private equity....
s with total investor commitments of approximately $7.3 billion. Of these five funds the first two have been fully invested and liquidated and as of 2008, Vestar V was currently being invested and Vestar IV was more than 90% invested:
- 1988 - Vestar Capital Partners (Liquidated)
- 1993 - Vestar Capital Partners II ($260 million - Liquidated)
- 1997 - Vestar Capital Partners III ($803 million - Fully invested)
- 1999 - Vestar Capital Partners IV ($2.48 billion)
- 2005 - Vestar Capital Partners V ($3.7 billion)
Portfolio companies
Over the past 20 years, Vestar Capital Partners has completed more than 65 transactions. Vestar owns Sun Products which produces some of the best-known brands in the fabric care industry, All, Wisk, Surf, Snuggle and Sunlight, and the nation's leading private label brands under the umbrella company. Other notable investments include Birds Eye Foods, a frozen foods producer, AZ Electronic MaterialsAZ Electronic Materials
AZ Electronic Materials plc is a British specialty chemicals company. It is listed on the London Stock Exchange.-History:The Company was established in the 1950s as a division of Hoechst . The name of the company is derived from the organic compound diazo...
, a leading supplier of electronic materials for flat screen TVs.
European deals include Sab Wabco, a manufacturer of brake systems, wheels and couplings for the railway industry, MediMedia, a content and marketing service provider in the healthcare and pharmaceutical industries, and Seves, a leader in the insulation market. Vestar Europe has also invested in OGF, a European leader in funerary services.
External links
- Vestar Capital Partners (company website)