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Encyclopedia > CVC Capital Partners

CVC Capital Partners is a European private equity firm. CVC was founded in 1981 as the European private equity arm of Citigroup, but after a buyout in 1993 it is owned by its management. In 1999, CVC established CVC Asia Pacific, which is a joint venture with Citigroup. CVC (Europe and Asia Pacific) is currently managing funds of over €20.9 billion (US $ 23.7 billion). Image File history File links No higher resolution available. ... Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ... Citigroup Inc. ... Citigroup Inc. ...

CVC is involved in a wide range of companies. Some of the most high profile include Kwik-Fit (2002-2005), The AA (2004), Debenhams (2003), Halfords (2002) Minit (2006). One of CVC's most high profile investments was the purchase of 86% of SLEC Holdings announced in 2005. SLEC owns the Formula One group of companies including Formula One Administration, owner of the sport's commercial rights. Kwik-Fit is a Scottish car servicing company. ... The Automobile Association (also referred to as The AA) is a British motoring organisation. ... Debenhams plc (LSE: DEB) is a retailer with a chain of department stores based in the United Kingdom. ... Halfords Group plc (LSE: HFD) is a leading retailer of car parts, car enhancement, cycles and travel solutions in the United Kingdom and Republic of Ireland. ... Minit Records Minit Records was a record label originally based in New Orleans and founded by Joe Banashak. ... Organisation of commerical operations of Formula One SLEC Holdings Ltd. ... Organisation of commerical operations of Formula One Formula One Administration Ltd. ...

In late March 2006 CVC purchased the final 14 percent stake of SLEC Holdings held by investment bank Lehman Brothers, CVC announced its acquisition through its newly incorporated Alpha Prema company. Organisation of commerical operations of Formula One SLEC Holdings Ltd. ... Organisation of commercial operations of Formula One. ...

James Packer sold 50% of the network's parent company PBL Media to CVC Asia-Pacific, a share valued at $4.6 billion, on October 18, 2006[3]. PBL officially announced on June 1, 2007 that they had sold a further 25% share of PBL Media to CVC for $515 million, effectively forgoing control of the day-to-day operations of the network.[5]

On July 5, 2007, CVC purchased Samsonite, the luggage company, for $1.7 billion, including assumed debt. The acquisition is the first CVC has made of a U.S. company.

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