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Apax Partners

January 01, 1970

Apax Partners LLP is a British private equity firm, headquartered in London, England.[3] The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai.[4] As of December 2023, the firm had raised and advised funds of approximately $65 billion (USD).[5] Apax Partners is one of the oldest and largest private equity firms operating on an international basis.[6]

Apax Partners LLP
Company typePrivate
IndustryPrivate equity
Venture capital
Founded1972; 52 years ago (1972)
HeadquartersLondon, England
Key people
Andrew Sillitoe (co-CEO)
Mitch Truwit (co-CEO)[1]
ProductsInvestments
Private equity funds
Leveraged buyouts
Growth capital
AUMUS$65 billion[2]
Number of employees
100+
Websitewww.apax.com

Apax invests across four sectors: technology, internet/consumer, healthcare and services.[5] It looks for investments in a target Enterprise Value of $100mm – $5,000mm.

Apax raises capital for its investment funds through institutional investors including corporate and public pension funds, university and college endowments, foundations and fund of funds.

History edit

In 1972,[7][8] Ronald Mourad Cohen and Maurice Tchénio founded the advisory firm Multinational Management Group (MMG) in London, Paris, and Chicago, marking the beginning of Apax Partners.[9][10] In 1977, they formed a partnership with early venture capitalist Alan Patricof, who founded Patricof & Co in New York in 1969.[11][12] The new firm would be known as Alan Patricof Associates (APA) and ultimately come to be known as Apax Partners (apax means "unique" in classical Greek).[13]

Throughout the 1980s, the firm grew steadily raising capital under a series of separate funds.[14][15]

In 1991, Apax Partners became the official name for all of its European operations[16] however the U.S. business still operated under the Patricof & Co. name. By the mid-1990s Apax had become one of the larger private equity firms globally.[11]

In 2001, Patricof & Co. adopted the Apax Partners branding and formalized its affiliation with its European business.[17][18] In 2002, Apax Partners LLP was established.[19]

In 2005, Apax announced it would acquire middle market leveraged buyout firm Saunders Karp & Megrue to augment its buyout business in the United States.[20][21] In March 2006, Alan Patricof left Apax.[22]

In 2006, Apax Partners in London and Apax Partners France in Paris became independent.[23] Apax Partners France rebranded to Seven2 in 2023.[24]

Investments edit

Pre-2010 edit

  • British Telecom restructured, and agreed to sell the Yell Group Yellow pages directory business to Apax and Lion Capital LLP for £2.14 billion/$3.5 billion,[25] making it then the largest non-corporate LBO in European history. Yell bought US directories publisher McLeodUSA for about $600 million the following year,[26] and floated on London's FTSE in 2003.[27]
  • Apax purchased a majority stake in Travelex (the world's largest foreign exchange company) for £1.06bn. In Q3 2005 Apax also announced plans to purchase Grupo Panrico, one of Spain's largest food companies and its largest bakery company.
  • A partnership consisting of Apax, Saban Capital Group and Arkin Communications acquired the controlling interest (30%) in Israeli telecommunications company Bezeq in October 2005 for $923 million.[28] The partnership sold its stake to Internet Gold – Golden Lines Ltd. subsidiary B Communications in April 2010 for $1.75 billion.[29]
  • Apax floated the satellite communications company Inmarsat on the London Stock Exchange in 2015.[30]
  • Apax purchased the Tommy Hilfiger Corporation for $1.6 billion, or $16.80 a share, all in cash. In May 2006, this deal was approved by the shareholders of Tommy Hilfiger.[31][32]
  • In June 2006, Apax acquired HIT Entertainment in a take-private transaction.[33]
  • On 21 August 2006 it was announced that Apax Partners and Bain Capital had joined the enlarged private equity consortium headed by KKR that has agreed to acquire an 80.1% stake in the Semiconductor Division of Royal Philips Electronics. The new company is called NXP Semiconductors.
  • On 31 October 2006 it was announced that Apax Partners had acquired FTMSC (France Télécom Mobile Satellite Communications) which would later be rebranded under the Vizada name in June 2007. This was shortly followed by an announcement on 6 September 2007 explaining that Apax Partners had acquired Telenor Satellite Services which was to be merged into the Vizada brand.
  • On 20 November 2006 Apax Partners Worldwide LLP won a tender to buy control of Tnuva. The bid values the privately held food and dairy group at $1.025 billion.
  • In May 2007, Apax signed definitive agreements with funds advised by Apax Partners and OMERS Capital Partners under which such funds acquired the higher education, careers and library reference assets of Thomson Learning, and a consortium of funds advised by OMERS, and Apax acquired Nelson Canada, for a combined total value of approximately $7.75 billion[clarification needed] in cash. The higher education, careers and library reference assets include such well-known brands and businesses as: Wadsworth, South-Western, Delmar Learning, Eddie Diamond, Gale, Heinle, Brooks/Cole, Course Technology and Nelson Canada. Nelson Canada is a leading provider of books and online resources for the educational market in Canada. The group will be majority-owned by OMERS. The name was changed to Cengage Learning, on 24 July 2007.
  • In January 2008 Apax and Mivtach Shamir purchased the Tnuva company for $1.025 billion.[34][35]
  • In August 2008, Apax Partners completed acquisition of TriZetto Group.[36]
  • In August 2009, Apax Partners completed acquisition of Bankrate.[37]

2010–2014 edit

  • In January 2010, Apax Partners acquired 76.8% of Israel-based Psagot Investment House for $570 million.[38]
  • In April 2010, Apax Partners announced acquisition of TIVIT.[39][40]
  • In May 2010, Apax Partners acquired a 70% stake in Sophos for $580 million.[41]
  • On 25 March 2011 Apax Partners announced that it had reached a definitive agreement to purchase Trader Corporation (“Trader”) from Yellow Media for a purchase price consideration of $745M.[42]
  • On 23 December 2011 Apax Partners announced acquisition of the Swiss branch of Orange.[43]
  • In February 2012, Apax sold HiT Entertainment to Mattel for $680 million.
  • On 11 June 2012 an Apax-led consortium announced acquisition of Paradigm Ltd.[44]
  • In September 2012, Apax Partners forms consortium with CEO Stephen Cretier for GardaWorld Security Services.[45]
  • In November 2012, Apax Partners agrees to acquire Cole Haan and completes acquisition 4 February 2013.[46]
  • On 21 January 2014 Apax bought out the remaining 50.1% share of Trader Media from the Guardian Media Group.[47]
  • On 9 October 2014 Apax announced that they will acquire Dutch software maker Exact.[48] It closed the transaction in April 2015.[49]
  • On 8 December 2014 Apax announced that it had entered into a transaction agreement to acquire 100% of the shares of EVRY.[50]

2015–2019 edit

  • 2015 Apax bought 100% of Spanish real state web portal idealista.com
  • In May 2015, Apax Partners agreed to purchase Quality Distribution, a Tampa, Florida-based chemical transport and logistics firm, for $800 million, including assumption of debt. The deal was completed in August 2015.[51]
  • In December 2015, Apax Partners agreed to sell Rhiag-Inter Auto Parts Italia SpA to LKQ Corporation for $1.14 billion.[52]
  • On 23 August 2017 funds advised by Apax Partners announced a definitive agreement to acquire ThoughtWorks, a global software development and digital transformation consulting company.[54]
  • In September 2017, Tom Chapman and Ruth Chapman sold a majority stake in Matchesfashion.com to private-equity funds managed by Apax Partners.[55]

2020–present edit

  • In April 2020, Apax Partners finalized the purchase of Coalfire, a cybersecurity firm.[60]
  • In June 2020, Apax invested $100m in Payfone, a software and data analytics firm, today known as Prove Identity[61] and based in New York.[62]
  • In Dec 2020, Azentio Software Private Limited, subsidiary of Apax Partners, buys global software products business of 3i Infotech for Rs. 1000 Cr [63]
  • In January 2021, Apax acquired PIB Group, a specialist insurance company, together with PIB's management team.[64]
  • In February 2021, Apax acquired a majority stake in Herjavec Group, a global managed security services provider led by founder and CEO Robert Herjavec, who retained a significant stake.[65][66]
  • In March 2021, Apax Partners acquired Rodenstock, a German manufacturer of ophthalmic lenses and spectacle frames, for EUR1.5 billion.[67][68]
  • In March 2021, Apax also agreed to acquire Lutech, an IT service company in Italy, from One Equity Partners.[69]
  • In May 2021, Apax acquired Texas based, pet food company Nulo.[70]
  • In August 2021, Apax acquired EveryAction from Insight Partners and Social Solutions from Vista Equity Partners, combining them with CyberGrants, a company it agreed to acquire in June from Waud Capital Partners. Vista kept a minority stake in the combined company, which will have annual revenue of over $200 million.[71]
  • In September 2021, Apax joined with Warburg Pincus to acquire T-Mobile Netherlands Holding B.V., today known as Odido, in a transaction valuing the company at an enterprise value of EUR5.1 billion.[72][73]
  • In September 2021, Apax also acquired SavATree, a horticultural service provider, based in New York.[74]
  • In October 2021, Apax agreed to acquire the homeowner services group of American Water Works for $1.27 billion.[75]
  • In November 2021, UK satellite firm Inmarsat, partially owned by Apax, agreed to be acquired by Viasat for $7.3 billion.[76][77]
  • In December 2021, Apax sold Unilabs, a European medical diagnostics company acquired from Nordic Capital and Apax Partners France, today known as Seven2,[24] in 2016,[78] to A.P. Moller Holding, the owner of Maersk.[79]
  • In May 2023, Apax agreed to acquire Blackstone Inc.'s minority stake in IBS Software, a software-as-a-service provider for travel and logistics companies, investing an estimated $450m, with IBS Software founder and executive chairman, Valayil Korath Mathews, retaining the majority stake.[86]
  • In July 2023, Apax agreed with Fremman Capital and other minor stakeholders, to acquire a co-controlling stake in Spain's Palex Medical.[87]
  • In August 2023, Apax entered into an agreement with The Tornante Company, former Disney CEO Michael Eisner's private investment firm, and Madison Dearborn Partners to acquire the Bazooka candy business for a sum of $700 million.[88]
  • In October 2023, Apax agreed to invest in GAN Integrity, a provider of cloud-based compliance management software, based in Copenhagen, Denmark.[89]
  • In November 2023, Apax, together with existing investors Frontier Growth, PeakSpan Capital, and Petvisor's management team, invested more than $100m in Petvisor, a veterinary and pet services software provider.[90]
  • In December 2023, Apax acquired the financial software companies OCS from Charme Capital Partners and Finwave from Lutech.[91][92]
  • In February 2024, Apax completed the acquisition of trend forecasting company WGSN from Ascential.[93][94]

Criticism edit

British United Shoe Machinery (2000) edit

The circumstances surrounding the demerger, transfer of assets and subsequent collapse of the British United Shoe Machinery in 2000 led to questions about Apax's behaviour being raised in Parliament by MPs of both main parties. After calls for an enquiry into the loss of hundreds of pensions were refused, Ros Altmann, the pensions expert and, as of 2015, UK Pensions minister described it "one of the worst cases ..I have seen ..the actions of the former owners - Apax have been immoral." The Member of Parliament Ashok Kumar said, "I think these people needed flogging ..these are greedy, selfish, capitalists who live on the backs of others."[95][96]

Hellas Telecommunications (2015) edit

Following its sale of Wind Hellas in 2007, Apax and Hellas co-owner TPG were sued by former bondholders of the telecom company, who allege that Apax and TPG unjustifiably enriched themselves from Hellas and misrepresented the true state of its accounts. Apax has countered that some of these bondholders only began their dispute after passing up on the chance of selling prior to the bankruptcy of 2009, and that Apax sold the business in 2007 (almost three years before the bankruptcy) and so was not the legal owner of Hellas during the periods cited in some of the lawsuits. (In 2005 a New York judge awarded $56m to some of these bondholders, made against Hellas Telecommunications Finance and Hellas Finance, rather than Apax or TPG). Other lawsuits related to Apax and TPG's ownership of Hellas are being heard in the USA. In December 2015 a separate legal action brought by the liquidators of Hellas Telecommunications was dismissed by a Luxembourg court.[97][98][99][100][101] In February 2018 the liquidators abandoned their UK case against Apax and TPG after four days of trial.[102]

Notable persons edit

See also edit

References edit

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  47. ^ Williams, Christopher (2014-01-21). "Guardian Media Group gets 600m for AutoTrader stake". London: The Daily Telegraph. Retrieved 2014-01-21.
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  49. ^ Dorbian, Iris (2015-04-15). "Apax Partners closes buy of Exact for 730 mln euros". pehub.com. PE Hub Network. Retrieved 2016-12-08.
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  60. ^ Bureau, E. T. (2020-04-24). "Apax Partners Completes Coalfire Acquisition". EnterpriseTalk. Retrieved 2020-04-25.
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  62. ^ "Payfone Raises $100 Million Led by the Apax Digital Fund". www.prnewswire.com. Retrieved 2023-11-29.
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  67. ^ "Apax Nears Deal for $1.8 Billion German Eyewear Firm Rodenstock". Bloomberg.com. 2021-03-24. Retrieved 2023-08-17.
  68. ^ "Apax Acquires Rodenstock". mergr.com. Retrieved 2023-08-17.
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  70. ^ Harvey, Simon (2021-06-22). "Pet-food business Nulo comes under new majority ownership". Just Food. Retrieved 2024-01-31.
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External links edit

  • Official website
  • "How I rode the rising wave of private equity." The Sunday Times, November 4, 2007

January 01, 1970
apax, partners, british, private, equity, firm, headquartered, london, england, company, also, operates, other, offices, york, hong, kong, mumbai, aviv, munich, shanghai, december, 2023, firm, raised, advised, funds, approximately, billion, oldest, largest, pr. Apax Partners LLP is a British private equity firm headquartered in London England 3 The company also operates out of six other offices in New York Hong Kong Mumbai Tel Aviv Munich and Shanghai 4 As of December 2023 the firm had raised and advised funds of approximately 65 billion USD 5 Apax Partners is one of the oldest and largest private equity firms operating on an international basis 6 Apax Partners LLPCompany typePrivateIndustryPrivate equityVenture capitalFounded1972 52 years ago 1972 HeadquartersLondon EnglandKey peopleAndrew Sillitoe co CEO Mitch Truwit co CEO 1 ProductsInvestmentsPrivate equity fundsLeveraged buyoutsGrowth capitalAUMUS 65 billion 2 Number of employees100 Websitewww wbr apax wbr com Apax invests across four sectors technology internet consumer healthcare and services 5 It looks for investments in a target Enterprise Value of 100mm 5 000mm Apax raises capital for its investment funds through institutional investors including corporate and public pension funds university and college endowments foundations and fund of funds Contents 1 History 2 Investments 2 1 Pre 2010 2 2 2010 2014 2 3 2015 2019 2 4 2020 present 3 Criticism 3 1 British United Shoe Machinery 2000 3 2 Hellas Telecommunications 2015 4 Notable persons 5 See also 6 References 7 External linksHistory editIn 1972 7 8 Ronald Mourad Cohen and Maurice Tchenio founded the advisory firm Multinational Management Group MMG in London Paris and Chicago marking the beginning of Apax Partners 9 10 In 1977 they formed a partnership with early venture capitalist Alan Patricof who founded Patricof amp Co in New York in 1969 11 12 The new firm would be known as Alan Patricof Associates APA and ultimately come to be known as Apax Partners apax means unique in classical Greek 13 Throughout the 1980s the firm grew steadily raising capital under a series of separate funds 14 15 In 1991 Apax Partners became the official name for all of its European operations 16 however the U S business still operated under the Patricof amp Co name By the mid 1990s Apax had become one of the larger private equity firms globally 11 In 2001 Patricof amp Co adopted the Apax Partners branding and formalized its affiliation with its European business 17 18 In 2002 Apax Partners LLP was established 19 In 2005 Apax announced it would acquire middle market leveraged buyout firm Saunders Karp amp Megrue to augment its buyout business in the United States 20 21 In March 2006 Alan Patricof left Apax 22 In 2006 Apax Partners in London and Apax Partners France in Paris became independent 23 Apax Partners France rebranded to Seven2 in 2023 24 Investments editPre 2010 edit British Telecom restructured and agreed to sell the Yell Group Yellow pages directory business to Apax and Lion Capital LLP for 2 14 billion 3 5 billion 25 making it then the largest non corporate LBO in European history Yell bought US directories publisher McLeodUSA for about 600 million the following year 26 and floated on London s FTSE in 2003 27 Apax purchased a majority stake in Travelex the world s largest foreign exchange company for 1 06bn In Q3 2005 Apax also announced plans to purchase Grupo Panrico one of Spain s largest food companies and its largest bakery company A partnership consisting of Apax Saban Capital Group and Arkin Communications acquired the controlling interest 30 in Israeli telecommunications company Bezeq in October 2005 for 923 million 28 The partnership sold its stake to Internet Gold Golden Lines Ltd subsidiary B Communications in April 2010 for 1 75 billion 29 Apax floated the satellite communications company Inmarsat on the London Stock Exchange in 2015 30 Apax purchased the Tommy Hilfiger Corporation for 1 6 billion or 16 80 a share all in cash In May 2006 this deal was approved by the shareholders of Tommy Hilfiger 31 32 In June 2006 Apax acquired HIT Entertainment in a take private transaction 33 On 21 August 2006 it was announced that Apax Partners and Bain Capital had joined the enlarged private equity consortium headed by KKR that has agreed to acquire an 80 1 stake in the Semiconductor Division of Royal Philips Electronics The new company is called NXP Semiconductors On 31 October 2006 it was announced that Apax Partners had acquired FTMSC France Telecom Mobile Satellite Communications which would later be rebranded under the Vizada name in June 2007 This was shortly followed by an announcement on 6 September 2007 explaining that Apax Partners had acquired Telenor Satellite Services which was to be merged into the Vizada brand On 20 November 2006 Apax Partners Worldwide LLP won a tender to buy control of Tnuva The bid values the privately held food and dairy group at 1 025 billion In May 2007 Apax signed definitive agreements with funds advised by Apax Partners and OMERS Capital Partners under which such funds acquired the higher education careers and library reference assets of Thomson Learning and a consortium of funds advised by OMERS and Apax acquired Nelson Canada for a combined total value of approximately 7 75 billion clarification needed in cash The higher education careers and library reference assets include such well known brands and businesses as Wadsworth South Western Delmar Learning Eddie Diamond Gale Heinle Brooks Cole Course Technology and Nelson Canada Nelson Canada is a leading provider of books and online resources for the educational market in Canada The group will be majority owned by OMERS The name was changed to Cengage Learning on 24 July 2007 In January 2008 Apax and Mivtach Shamir purchased the Tnuva company for 1 025 billion 34 35 In August 2008 Apax Partners completed acquisition of TriZetto Group 36 In August 2009 Apax Partners completed acquisition of Bankrate 37 2010 2014 edit In January 2010 Apax Partners acquired 76 8 of Israel based Psagot Investment House for 570 million 38 In April 2010 Apax Partners announced acquisition of TIVIT 39 40 In May 2010 Apax Partners acquired a 70 stake in Sophos for 580 million 41 On 25 March 2011 Apax Partners announced that it had reached a definitive agreement to purchase Trader Corporation Trader from Yellow Media for a purchase price consideration of 745M 42 On 23 December 2011 Apax Partners announced acquisition of the Swiss branch of Orange 43 In February 2012 Apax sold HiT Entertainment to Mattel for 680 million On 11 June 2012 an Apax led consortium announced acquisition of Paradigm Ltd 44 In September 2012 Apax Partners forms consortium with CEO Stephen Cretier for GardaWorld Security Services 45 In November 2012 Apax Partners agrees to acquire Cole Haan and completes acquisition 4 February 2013 46 On 21 January 2014 Apax bought out the remaining 50 1 share of Trader Media from the Guardian Media Group 47 On 9 October 2014 Apax announced that they will acquire Dutch software maker Exact 48 It closed the transaction in April 2015 49 On 8 December 2014 Apax announced that it had entered into a transaction agreement to acquire 100 of the shares of EVRY 50 2015 2019 edit 2015 Apax bought 100 of Spanish real state web portal idealista com In May 2015 Apax Partners agreed to purchase Quality Distribution a Tampa Florida based chemical transport and logistics firm for 800 million including assumption of debt The deal was completed in August 2015 51 In December 2015 Apax Partners agreed to sell Rhiag Inter Auto Parts Italia SpA to LKQ Corporation for 1 14 billion 52 On 19 July 2016 Apax Partners agrees to acquire Boats Group Formerly Dominion Marine Media DMM a subsidiary of Landmark Media Enterprises 53 On 23 August 2017 funds advised by Apax Partners announced a definitive agreement to acquire ThoughtWorks a global software development and digital transformation consulting company 54 In September 2017 Tom Chapman and Ruth Chapman sold a majority stake in Matchesfashion com to private equity funds managed by Apax Partners 55 In January 2019 Apax Partners invested US 200 million in Fractal Analytics 56 57 In May 2019 Apax Partners purchased New Zealand e commerce company Trade Me for US 1 7 billion 58 In July 2019 funds advised by Apax Partners acquired Baltic Classifieds Group a business owning a portfolio of portals in Estonia Latvia and Lithuania 59 2020 present edit In April 2020 Apax Partners finalized the purchase of Coalfire a cybersecurity firm 60 In June 2020 Apax invested 100m in Payfone a software and data analytics firm today known as Prove Identity 61 and based in New York 62 In Dec 2020 Azentio Software Private Limited subsidiary of Apax Partners buys global software products business of 3i Infotech for Rs 1000 Cr 63 In January 2021 Apax acquired PIB Group a specialist insurance company together with PIB s management team 64 In February 2021 Apax acquired a majority stake in Herjavec Group a global managed security services provider led by founder and CEO Robert Herjavec who retained a significant stake 65 66 In March 2021 Apax Partners acquired Rodenstock a German manufacturer of ophthalmic lenses and spectacle frames for EUR1 5 billion 67 68 In March 2021 Apax also agreed to acquire Lutech an IT service company in Italy from One Equity Partners 69 In May 2021 Apax acquired Texas based pet food company Nulo 70 In August 2021 Apax acquired EveryAction from Insight Partners and Social Solutions from Vista Equity Partners combining them with CyberGrants a company it agreed to acquire in June from Waud Capital Partners Vista kept a minority stake in the combined company which will have annual revenue of over 200 million 71 In September 2021 Apax joined with Warburg Pincus to acquire T Mobile Netherlands Holding B V today known as Odido in a transaction valuing the company at an enterprise value of EUR5 1 billion 72 73 In September 2021 Apax also acquired SavATree a horticultural service provider based in New York 74 In October 2021 Apax agreed to acquire the homeowner services group of American Water Works for 1 27 billion 75 In November 2021 UK satellite firm Inmarsat partially owned by Apax agreed to be acquired by Viasat for 7 3 billion 76 77 In December 2021 Apax sold Unilabs a European medical diagnostics company acquired from Nordic Capital and Apax Partners France today known as Seven2 24 in 2016 78 to A P Moller Holding the owner of Maersk 79 In February 2022 Apax acquired a majority stake in Ole Smoky Distillery a Gatlinburg Tennessee based spirits company 80 81 In February 2022 Apax also acquired a controlling stake in Alcumus a risk management and compliance services firm based in Cardiff 82 83 In October 2022 Apax sold ISO tank services provider Boasso Global formerly known as Quality Distribution to KKR 84 85 In May 2023 Apax agreed to acquire Blackstone Inc s minority stake in IBS Software a software as a service provider for travel and logistics companies investing an estimated 450m with IBS Software founder and executive chairman Valayil Korath Mathews retaining the majority stake 86 In July 2023 Apax agreed with Fremman Capital and other minor stakeholders to acquire a co controlling stake in Spain s Palex Medical 87 In August 2023 Apax entered into an agreement with The Tornante Company former Disney CEO Michael Eisner s private investment firm and Madison Dearborn Partners to acquire the Bazooka candy business for a sum of 700 million 88 In October 2023 Apax agreed to invest in GAN Integrity a provider of cloud based compliance management software based in Copenhagen Denmark 89 In November 2023 Apax together with existing investors Frontier Growth PeakSpan Capital and Petvisor s management team invested more than 100m in Petvisor a veterinary and pet services software provider 90 In December 2023 Apax acquired the financial software companies OCS from Charme Capital Partners and Finwave from Lutech 91 92 In February 2024 Apax completed the acquisition of trend forecasting company WGSN from Ascential 93 94 Criticism editBritish United Shoe Machinery 2000 edit The circumstances surrounding the demerger transfer of assets and subsequent collapse of the British United Shoe Machinery in 2000 led to questions about Apax s behaviour being raised in Parliament by MPs of both main parties After calls for an enquiry into the loss of hundreds of pensions were refused Ros Altmann the pensions expert and as of 2015 UK Pensions minister described it one of the worst cases I have seen the actions of the former owners Apax have been immoral The Member of Parliament Ashok Kumar said I think these people needed flogging these are greedy selfish capitalists who live on the backs of others 95 96 Hellas Telecommunications 2015 edit Following its sale of Wind Hellas in 2007 Apax and Hellas co owner TPG were sued by former bondholders of the telecom company who allege that Apax and TPG unjustifiably enriched themselves from Hellas and misrepresented the true state of its accounts Apax has countered that some of these bondholders only began their dispute after passing up on the chance of selling prior to the bankruptcy of 2009 and that Apax sold the business in 2007 almost three years before the bankruptcy and so was not the legal owner of Hellas during the periods cited in some of the lawsuits In 2005 a New York judge awarded 56m to some of these bondholders made against Hellas Telecommunications Finance and Hellas Finance rather than Apax or TPG Other lawsuits related to Apax and TPG s ownership of Hellas are being heard in the USA In December 2015 a separate legal action brought by the liquidators of Hellas Telecommunications was dismissed by a Luxembourg court 97 98 99 100 101 In February 2018 the liquidators abandoned their UK case against Apax and TPG after four days of trial 102 Notable persons editJonathan Kestenbaum Baron Kestenbaum born 1959 chief operating officer of investment trust RIT Capital Partners and a Labour member of the House of LordsSee also editScott MeadReferences edit Apax Partners appoints co CEOs to replace Halusa Reuters December 5 2013 Apax Partners raises 1B tech fund investing in luxury e commerce site Mergers amp Acquisitions December 8 2017 Apax sale marks VC exit Financial Times November 7 2010 www webreality co uk Webreality Apax Offices www apax com a b Apax Partners Institution Profile Private Equity International www privateequityinternational com Retrieved 2023 12 06 Bazooka Candy Brands Sold for 700 Million ProFood World 2023 08 17 Retrieved 2023 12 06 Sanchez Alvaro 2023 06 28 Sir Ronald Cohen the founder of Apax Partners Capitalism hasn t changed for more than 200 years but now it s changing EL PAIS English Retrieved 2023 11 30 Q What have Dolly the sheep Chris Evans and Britain s first The Independent 2000 11 15 Retrieved 2023 11 30 Sir Ronald M Cohen MBA 1969 Harvard Business School Alumni 2006 01 01 Retrieved 2024 02 25 Maurice Tchenio Fondation AlphaOmega Retrieved 2024 02 25 a b This old guy sure can pick em Money CNN 11 September 2007 Retrieved 25 February 2024 Legendary VC Alan Patricof says valuations still have further to fall Fortune Retrieved 2024 02 25 Globetrotter Forbes Retrieved 2023 10 31 Le Dfi Mondial Forbes Retrieved 2024 02 25 Ronald Cohen s Turn to Social Investing HBS Working Knowledge Retrieved 2024 02 25 APAX PARTNERS HOLDINGS LTD overview Find and update company information GOV UK find and update company information service gov uk Retrieved 2024 02 25 Meikle Brad 2001 10 01 Patricof amp Co name change Buyouts Retrieved 2024 02 25 Patricof Becomes Apax Light Reading 10 September 2001 Retrieved 25 February 2024 APAX PARTNERS LLP overview Find and update company information GOV UK find and update company information service gov uk Retrieved 2024 02 25 COMPANY NEWS BRITISH BUYOUT FIRM BUYS OUT AMERICAN BUYOUT FIRM The New York Times 2005 02 25 ISSN 0362 4331 Retrieved 2024 02 25 Rayner Abigail 2024 02 25 Apax s US arm in merger The Sunday Times ISSN 0140 0460 Retrieved 2024 02 25 Sorkin Andrew Ross 2006 03 06 New Fund for Prominent Investor The New York Times ISSN 0362 4331 Retrieved 2024 02 25 DNA Apax Retrieved 2023 10 31 a b Apax Partners rebrands to Seven2 Real Deals Retrieved 2023 10 31 Yell com History 2000 Yell com Archived from the original on 8 February 2008 Retrieved 2008 01 11 Yell buys US directories BBC News 21 January 2002 Europe s IPO trickle could become a flood Businessweek 21 July 2003 Apax Saban Arkin Group completes acquisition of controlling interest in leading Israeli telecom company Bezeq Goliath 1 October 2005 Retrieved 18 March 2012 B Communications Closes Acquisition Of Controlling Interest In Bezeq RTTNews 14 April 2010 Archived from the original on 11 September 2012 Retrieved 18 March 2012 Harding Latoya 19 March 2019 Private equity firms make fresh bid for Inmarsat Daily Telegraph Retrieved 20 March 2019 Lockwood Lisa 2006 05 10 Shareholders Approve Hilfiger Apax Merger WWD Retrieved 2023 12 20 O Connor Clare 2014 12 10 Turnaround Tommy How Hilfiger s Once Dead Brand Had Its Biggest Year Ever Forbes Retrieved 2023 12 20 Sabbagh Dan 2006 10 31 Bob helps HIT to build its profits The Times ISSN 0140 0460 Retrieved 2018 06 29 Consortium comprising funds advised by Apax Partners amp Mivtach Shamir acquires Tnuva for 1 025 billion apax 7 January 2008 Retrieved 12 March 2012 Fosun Capital mulls buying Meir Shamir s Tnuva stake Globes English Globes in Hebrew 7 December 2014 Retrieved 2017 08 20 Funds advised by Apax Partners agree to sell their majority stake in the TriZetto Corporation to Cognizant Technology Solutions www prnewswire com Press release Retrieved 2018 09 20 Harrington Amanda Andrews and Ben 2010 10 31 Apax Partners in the hunt for moneysupermarket Daily Telegraph ISSN 0307 1235 Retrieved 2018 09 20 Apax buys majority of Israel investment firm Psagot Ynetnews Reuters 11 January 2010 Retrieved 12 March 2012 TIVIT Lider em servicos integrado de tecnologia e possui um portfolio unico de solucoes TIVIT Terms of Service Violation Bloomberg com 10 May 2010 Retrieved 2018 09 20 Worthen Ben 4 May 2010 Apax Agrees to Acquire Sophos WSJ Retrieved 2 April 2014 Apax Partners to Acquire Trader Corporation s Auto Assets Apax Partners 2011 03 25 Retrieved 2013 08 05 www webreality co uk Webreality Apax Error www apax com Apax led Consortium Agrees to Acquire Paradigm Ltd Apax Partners 2012 06 11 Retrieved 2013 08 05 Garda announces agreement to be acquired by company Founder and CEO Stephan Cretier and Apax Funds Apax Partners 2012 11 07 Retrieved 2013 10 06 Apax Partners agrees to acquire Cole Haan Apax Partners 2012 11 16 Retrieved 2013 10 06 Williams Christopher 2014 01 21 Guardian Media Group gets 600m for AutoTrader stake London The Daily Telegraph Retrieved 2014 01 21 Apax Linked Funds to Acquire Dutch Software Maker for 925 Million The New York Times 2014 10 09 Retrieved 2016 12 08 Dorbian Iris 2015 04 15 Apax Partners closes buy of Exact for 730 mln euros pehub com PE Hub Network Retrieved 2016 12 08 Recommended cash offer by funds advised by Apax to acquire 100 of the shares of EVRY Apax Partners 2014 12 08 Retrieved 2014 12 09 Private equity firm buys Quality Distribution for 800M Tampa Bay Business Journal May 7 2015 LKQ to buy Italy s Rhiag to boost Europe auto spares business Reuters December 22 2015 Boating Industry 19 July 2016 New owner for Dominion Marine Media Boating Industry Retrieved 3 October 2016 Funds advised by Apax Partners to acquire ThoughtWorks Inc 23 August 2017 Archived from the original on 23 August 2017 Clarke Katherine British Fashion Entrepreneurs Spend 24 Million on Modern Los Angeles Compound The Wall Street Journal New York City New York Retrieved December 18 2017 Joshi Malvika January 17 2019 Apax Funds invests 200 million in Fractal Analytics Livemint Retrieved February 12 2020 Raghavan Ranjani January 16 2019 Apax Partners to acquire 200 mn stake in Fractal Analytics VCcircle Retrieved February 12 2020 Funds advised by Apax Partners complete the acquisition of Trade Me Apax Partners Retrieved 11 May 2019 Apax Funds acquires Baltic Classifieds Group AIM Group 21 May 2019 Retrieved 25 August 2021 Bureau E T 2020 04 24 Apax Partners Completes Coalfire Acquisition EnterpriseTalk Retrieved 2020 04 25 Lunden Ingrid 2023 10 17 Prove Identity nabs 40M at a 1B valuation to expand in mobile based authentication tech TechCrunch Retrieved 2023 11 29 Payfone Raises 100 Million Led by the Apax Digital Fund www prnewswire com Retrieved 2023 11 29 Apax 2020 12 29 Apax Partners buys 3i Infotech product business Apax Retrieved 2020 12 29 Baker Katie 2021 01 29 Apax Partners acquires PIB Group ReinsuranceNe ws Retrieved 2024 01 31 Olenick Doug 13 February 2021 M amp A Update Apax Partners to Acquire Herjavec Group www bankinfosecurity com Retrieved 2023 09 20 Herjavec Group to be acquired by U K based Apax Funds IT World Canada News www itworldcanada com 2021 02 11 Retrieved 2023 09 20 Apax Nears Deal for 1 8 Billion German Eyewear Firm Rodenstock Bloomberg com 2021 03 24 Retrieved 2023 08 17 Apax Acquires Rodenstock mergr com Retrieved 2023 08 17 Funds advised by Apax to acquire Lutech Private Equity Wire 16 March 2021 Retrieved 31 January 2023 Harvey Simon 2021 06 22 Pet food business Nulo comes under new majority ownership Just Food Retrieved 2024 01 31 Apax 2021 08 03 Apax Merges Software Firms for Non Profits in 2 Billion Deal Bloomberg Retrieved 2022 01 20 Apax Funds and Warburg Pincus to acquire T Mobile Netherlands Techzine Europe 2021 09 07 Retrieved 2023 09 28 T Mobile acquired by two investors for 5 1 billion NL Times nltimes nl Retrieved 2023 09 28 Apax Funds acquires SavATree Lawn amp Landscape 13 September 2023 Retrieved 31 January 2024 Apax Buys Homeowner Services Group of American Water for 1 27B Mergers amp Acquisitions 29 October 2021 Retrieved 29 October 2023 Viasat buys Britain s Inmarsat in 7 3 billion satellite play Reuters 2021 11 08 Retrieved 2023 10 31 Sweney Mark 2021 11 08 UK satellite firm Inmarsat agrees 7 3bn takeover by US rival Viasat The Guardian ISSN 0261 3077 Retrieved 2023 10 31 Apax Nordic conduct Unilabs deal PitchBook 13 December 2016 Retrieved 31 October 2023 Maersk owner to acquire Unilabs from Apax Partners Reuters 2021 12 03 Retrieved 2023 10 31 Apax Acquires Ole Smoky Distillery Mergers amp Acquisitions 14 February 2022 Retrieved 17 November 2023 Brooker Alice 2022 02 14 Ole Smoky Distillery sells stake to Apax The Spirits Business Retrieved 2023 11 17 McCarthy Sebastian Inflexion and Apax shake hands in 600m deal for Alcumus www penews com Retrieved 2024 02 25 Segal Mark 2022 02 11 Apax Acquires Controlling Stake in ESG amp EHS Risk Management Provider Alcumus at 600M Valuation ESG Today Retrieved 2024 02 25 PE firm Apax to sell Boasso Global to KKR Bulk Transporter 2022 10 28 Retrieved 2023 12 31 Dorbian Iris 2022 10 06 KKR to acquire ISO tank services provider Boasso Global from Apax PE Hub Retrieved 2023 12 31 Blackstone sells stake worth 450 mn in SaaS firm IBS Software to Apax Business Standard 15 May 2023 Retrieved 31 January 2024 Apax to acquire co controlling stake in Palex Medical Reuters 31 July 2023 Retrieved 31 January 2024 Former Disney CEO Michael Eisner Strikes Deal to Sell Bazooka Gum Business The Wall Street Journal 14 August 2023 Retrieved 31 January 2023 Joseph Irien 2023 10 26 Apax Partners agrees to invest in GAN Integrity PE Hub Europe Retrieved 2024 04 14 Dorbian Iris 2023 11 14 Apax Digital Funds leads over 100m in vet and pet services software provider Petvisor PE Hub Retrieved 2024 04 14 Apax Partners acquires OCS and Finwave Real Deals Retrieved 2024 04 28 Private equity dives into datacenters dry powder hits another record high S amp P Global 15 December 2023 Retrieved 28 April 2024 A amp O Advises Apax Fund On 700M Consumer Trend Biz Buy Law360 www law360 com Retrieved 2024 04 28 Ascential completes sale of WGSN as focus shifts to events business Exhibition World Retrieved 2024 04 28 Nick Mathiason 10 June 2007 Private equity stole our pensions Observer Newspapers London Retrieved 9 June 2014 House of Commons Debate on Deferred pensions 17 January 2006 c234WH Theyworkforyou com Retrieved 8 December 2015 William Louch 24 December 2015 Luxembourg court rules in favour of Apax TPG in Hellas case efinancialnews com Retrieved 14 January 2016 Kleyr Grasso 5 January 2016 Hellas case Court rejects claim 5 January 2016 Lexology com Globe Business Publishing Ltd Retrieved 14 January 2016 Delevingne Lawrence 20 November 2014 Greek drama Telecom focus of bloody PE fight CNBC Another Greek tragedy The Economist ISSN 0013 0613 Retrieved 2015 12 23 Letters The Economist 23 July 2015 Retrieved 2015 12 23 COURT Hellas Telecommunications liquidators abandon lawsuit against Apax and TPG costs hearing week of 5 March Debtwire com February 23 2018 External links editOfficial website How I rode the rising wave of private equity The Sunday Times November 4 2007 Retrieved from https en wikipedia org w index php title Apax Partners amp oldid 1221249495, wikipedia, wiki, book, books, library,

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