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Advent International is a global private equity firms focused on leveraged buyouts of middle market growth companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, strategic restructuring opportunities and growth buyouts in five core sectors. Since its inception in 1984, Advent has raised $24 billion (€18 billion) in private equity capital and, through its buyout programs, has completed more than 250 transactions valued at over $40 billion (€27 billion) in 40 countries. Advent operates from offices in 15 countries, with affiliates in a further 8 countries and employs over 140 investment professionals.
[edit] History
Advent was originally founded in Boston, Massachusetts as a spin-out from TA Associates by Peter Brooke. Brooke had founded TA Associates in 1968 after having expanded the venture capital operations of TA's parent Tucker Anthony & R.L. In 1985, Advent raised its first fund a $14m corporate venture capital program for Nabisco. In 1987, the firm raised the $225 million International Network Fund, its first institutional private equity fund. The firm raised its first European fund in 1989, the $231 million European Special Situations Fund and opened its London office. Advent continued its expansion in the 1990s, opening offices in Frankfurt and Milan and merging with UK-based Trinity Capital Partners. In 1994, Advent completed fundraising for the first of its flagship series of funds Advent Global Private Equity (GPE) II with $415 million. In 1996, Advent expanded into Latin America raising a dedicated Advent Latin American Private Equity Fund and opening offices in Buenos Aires, Mexico City, and Sao Paulo. Advent crossed the billion dollar mark in 1997, with the raising of the $1.2 billion Advent Global Private Equity (GPE) III and in the last few years of the 1990s, Advent raised additional sector funds focused on media and communications as well as healthcare & life sciences. Advent's founded Peter Brooke, stepped down as the firm's CEO in 1996. Through the 2000s, Advent's expansion accelerated as the firm raised additional funds for its various fund families and opening new offices in Europe and Asia. Advent's sixth Global Private Equity fund, raised in 2008 closed with €6.6 billion of investor commitments and the firm raised an additiona €1 billion for investments in central Europe.[1][2] [edit] InvestmentsAdvent acquired the British variety store chain Poundland in 2002 and has investments in the Fat Face clothing brand and extended warranty firm Domestic & General.[3] Advent bought a majority ownership of Bradco Supply, a leading distributor of building products in 2008.[4] Advent has acquired a number of companies in Central and Eastern Europe through its dedicated sector funds. These include Romanian Ceramica IASI, one of Romania’s leading ceramic bricks and clay roof tiles producers, Bolix, a leading Polish producer of building chemistry, Dufa Deutek, Romania’s largest decorative paints producer, and LaborMed Pharma, manufactures and distributes generic pharmaceuticals primarily for cardiovascular and central nervous system aliments.[5]. In March 2009, Advent completed the acquisition of a controlling interest in Fifth Third Processing Solutions, the payment processing business of Fifth Third Bank in a $2.35 billion transaction. The transaction represented one of the largest private equity transations completed in 2009 amidst the Financial crisis of 2007–2009.[6] [edit] References
[edit] External links
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