Mitra Fenway is an American private equity firm that buys funds and growth capital investments in transportation, logistics, consumer products, and mid-market manufacturing companies. In 2002, Fenway purchased printing equipment and Premier Tile customer base. The price for the acquisition is 8.25 million. The company was founded in 1994 by Richard Dresdale (formerly Clayton, Dubilier & Rice) and Peter Lamm (formerly Butler Capital Partners) and has over $ 2 billion in managed capital. From the beginning, the company has collected three private equity funds. Fenway's first fund, closed at about $ 525 million of capital commitments in 1996 and just two years later, in 1998, the company raised an additional $ 900 million in capital. As a result of some investments made in the 1998 fund, before the collapse of the dot-com bubble, performance in the fund was affected. Nevertheless, the company was able to raise replacement funds in 2006 and 2007 with approximately $ 700 million commitment from institutional investors.
Video Fenway Partners
Investment
Among the companies, the most prominent investments are Targus, 1-800 Contacts, Coach America, Riddell, Bell Sports, and Easton.
Targus Corporation
Fenway Partners acquired Targus Group International, a company based in Anaheim, California, for $ 382.5 million on November 22, 2005. During the acquisition of Targus, managing director at Fenway Partners, Timothy Mayhew, was quoted as saying; "Targus has many elements that Fenway seeks, including leading market positions, diversified revenue base with high barriers to entry, strong free cash flow and dynamic industry characteristics.Targus is the original creator to carry portable computers and has since expanded into several Electronic accessories include: backpacks, keys, keyboards and keypads, privacy screens, to name a few, and lastly with the acquisition of Sena, a high quality leather case maker, into the case market for smart phones.
1-800 Kontak
In 2007, Fenway Partners acquired 1-800 Contacts, vendors and distributors of brand name contact lenses, located in Draper, Utah. The price set for the acquisition of 1-800 Contacts is a premium of 21% above the highest reported stock value in the past year and 34% of the closing price in the past month. In total, the purchase price is worth $ 340 million.
On June 20, 2012, Co-Founder of Fenway Partners, Peter Lamm, was quoted as saying "We are very pleased with our investment results at 1-800 Contacts" after Fenway Partners sold 1-800 Contacts to WellPoint Inc., a healthcare company, with the amount of about $ 900 million.
Riddell Sports Group
On July 7, 2003, Fenway Partners is pleased to announce their acquisition of Riddell Sports Group, a sporting goods manufacturer. Riddell's helmet was won by over 85% of NFL players, and in 2002 they released the first computerized football helmets that were engineered in an effort to help reduce concussions among athletes. As a leading soccer helmet manufacturer, among other products such as sanitary napkins and replica collectibles, Riddell posted revenues of more than $ 100 million in 2002, the same number it earned by Fenway Partners the following year.
Olahraga Bell
Bell Sports, a manufacturer of helmets and apparel, was acquired by Fenway Partners in August 2004. Bell earned for about $ 240 million. The purchase of Bell Sports, whose owner investors have planned to sell the company back in April, is a powerful step for Fenway Partners as it plans to merge its newest assets with the recently acquired Riddell Sports Group.
Among the most famous investment companies are upscale jewelry retailer Harry Winston and Simmons Bedding Company.
Maps Fenway Partners
Merger
Riddell Sports Group/Bell Sports
"This is a merger of forces in the sense," said Tim Mayhew, managing director for Fenway Partners, which acquired Riddell Sports Group in 2003 and Bell Sports in 2004. Bell's purchase fits perfectly to expand Fenway's market share in industrial sports. By combining both of these industry leaders, Bell of the sport of action and Riddell of the football industry, the company will now have the largest research and development facility, based in Santa Cruz, California, which is directed to the world's head protection. Combined, these companies will now produce more than 8 million helmets a year and are expected to generate revenues of more than $ 300 million in 2004. Bell Sports CEO and president Bill Fry is appointed to lead the joint management team of the company for placing Bell is back on top of their market, since he joined in 2001. Bill Sherman, Riddell CEO will remain in his current position and serve on the board of directors associated with the company.
Riddell Bell Holdings/Easton Sports Inc.
Two years after the merger of Riddell and Bell, Fenway Partners was there again by proposing a merger with the latest entities Riddell Bell Holdings and Easton Sports Inc. Easton is the leader in the sporting goods industry with departments ranging from cycling to baseball, hockey, motocross and even archery. In the past Easton has consistently generated annual revenue similar to Riddell Bell and as a combined entity is expected to break the $ 600 million mark. Easton Sports Inc. is a subsidiary of Jas D. Easton and its only subsidiary which is part of the merger. Easton Sports chief, Jim Easton, was appointed Chairman of the new joint entity. While the merger of Riddel Bell makes Fenway a world leader in research and development in their field, this merger creates a giant in the sporting goods industry that would be "unmatched" Bill Sherman, CEO of Riddell said. Anthony Palma, who served as CEO and president of Easton until 2008, said about Fenway's new valuable entity; "This company is now the number one baseball company, the number one football company, number one on the bike helmet, number one on the snow helmet and the number one hockey company of innovation.Yes, there are many numbers here.
Miscellaneous
The company was loosely associated with Fenway Park, but the firm is based in New York City and has no connection with the Boston Red Sox, Fenway Park or Fenway Sports Group.
References
External links
- Fenway Partners (company website)
Source of the article : Wikipedia
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