MidOcean Partners explained

MidOcean Partners
Type:Private Ownership
Founder:Ted Virtue
Hq Location:Midtown Manhattan, New York City
Industry:Private Equity
Area Served:Global
Products:Private equity funds, Leveraged buyouts
Assets:$10 billion[1]

MidOcean Partners is a New York–based alternative asset management firm that specializes in mid-sized private equity and alternative leveraged investments.[2] [3]

The firm, founded in February 2003,[4] [5] is based in Midtown Manhattan. MidOcean was originally formed by the managers of DB Capital Partners to acquire Deutsche Bank's late stage private equity investments in the United States and Europe in one of the largest private equity secondary transactions completed to date.[6] [7]

History

MidOcean Partners was formed through a management spinout transaction. A group of investors provided capital to the managers of DB Capital Partners, led by MidOcean CEO Ted Virtue, to acquire the portfolio of private equity investments they had managed at Deutsche Bank.[8] In addition to the €1.5 billion DB portfolio, MidOcean took over a €1 billion portfolio from a subsidiary of DB.[9] Among the investors in the transaction were NIB Capital Private Equity (today AlpInvest Partners), HarbourVest Partners, Paul Capital Partners, Coller Capital, Ontario Teachers' Pension Plan and CPP Investment Board, with investments from Northwestern Mutual, The Yucaipa Companies and Presidential Life. The management spinout of MidOcean, at the time valued at €1.5 billion (over $1.8 billion) was then and is still one of the largest transactions completed in the private equity secondary market.

In 2003, MidOcean sold the class ring and school yearbook supplier Jostens for nearly $500 million to CSFB.[10]

In 2009, MidOcean Partners formed MidOcean Credit Opportunity LP.[11]

In December 2018, MidOcean acquired HW Holdco and Meyers Research.[12] [13]

In May 2021, MidOcean sold their majority stake in The Planet Group to ProPharma Group.[14] In November that same year, Hunter Point Capital bought a minority stake in MidOcean.[15] [16]

In June 2022, MidOcean Partners acquired Pragmatic Institute, a product management training company.[17] [18] [19]

The spinout of MidOcean came at the same time as the spinouts of private equity groups from other leading investment banks including: JPMorgan Chase (CCMP Capital), Citigroup (Court Square Capital Partners), Morgan Stanley (Metalmark Capital) and Credit Suisse First Boston (Avista Capital Partners, Diamond Castle Holdings).

Investments

Among MidOcean's investments are various business services; consumer and leisure companies, media and niche industrial services companies including:

Former investments

Leadership

References

External links

Notes and References

  1. https://www.midoceanpartners.com/about 'About'
  2. Web site: MidOcean Partners raises over $1.5bn for sixth PE fund . 2024-02-19.
  3. Web site: 2023-04-04 . MidOcean Partners Raises Over $1.5 Billion for Sixth Private Equity Fund . 2024-02-19 . www.businesswire.com . en.
  4. News: Credit Suisse Gets Federal Nod to Sell DLJ Merchant Banking to Coller. 1 September 2015. Dow Jones.
  5. Web site: Hunter Point Capital Takes a Stake in MidOcean Partners - SWFI . 2024-02-19 . www.swfinstitute.org.
  6. Web site: 2013-01-15 . MidOcean to manage Morgan Grenfell assets . 2024-03-25 . Infrastructure Investor . en-GB.
  7. Web site: Marco . 2003-02-21 . Deutsche Bank: asset sale . 2024-03-25 . Coller Capital . en-US.
  8. Web site: 2003-02-21 . Deutsche Bank: asset sale . 2024-02-19 . Coller Capital . en-US.
  9. Web site: 2013-01-15 . MidOcean to manage Morgan Grenfell assets . 2024-07-02 . Infrastructure Investor . en-GB.
  10. Web site: Meikle . Brad . 2003-07-07 . Investcorp Sells Jostens To CSFB For $1.1B - . 2024-07-02 . Buyouts . en-US.
  11. Web site: MidOcean Partners Sells Majority Stake in The Planet Group MidOcean Partners . 2024-07-03 . www.midoceanpartners.com . en.
  12. Web site: December 12, 2018 . MidOcean Partners Announces Acquisitions and Merger of Hanley Wood and Meyers Research . 2024-07-03 . businesswire.
  13. Web site: 12 December 2018 . MidOcean buys Kennedy-Wilson's Meyers Research, merges it with Hanley Wood . 2024-07-03 . S&P Global.
  14. Web site: May 27, 2021 . MidOcean Partners Sells Majority Stake in The Planet Group . 2024-03-07 . businesswire.
  15. Web site: 2021-11-01 . Hunter Point Capital makes minority investment in MidOcean . 2024-07-04 . S&P Global.
  16. Web site: Bennett Goodman Strikes Deal for Stake in $10 Billion MidOcean . 2024-07-04 . news.bloomberglaw.com . en.
  17. Web site: MidOcean. 2022-07-18 . www.bizjournals.com.
  18. Web site: July 12, 2022: MidOcean Acquires Professional Training Provider . Middle Market Growth.
  19. Web site: Pragmatic Institute Has Been Acquired by MidOcean Partners . William Blair.
  20. Web site: MidOcean Partners Acquires Jostens . 2024-03-25 . mergr.com.
  21. News: O'Brien. Bob. MidOcean Partners struggles to put rocky performance in past. 11 June 2015. The Deal. 4 June 2015.
  22. Web site: KidKraft | MidOcean Partners.
  23. Farooque, Faizan, "MidOcean buys B2B information services provider Questex", S&P Global Market Intelligence, 13 September 2018. Retrieved 2019-03-27.
  24. Web site: B2B Publisher Questex Acquired By The Private-Equity Firm MidOcean Partners. Silber. Tony. Forbes. en. 2019-12-16.
  25. News: Washington area business diary for week of Jan. 14 . Selby . Shawn . January 13, 2013 . . November 12, 2020.
  26. News: Unwind . . . Before You Unravel . January 12, 2003 . Joyce . Amy . . November 12, 2020.
  27. News: Washington area business diary for week of Feb. 13 . Selby . Shawn . . February 12, 2013 . November 12, 2020.
  28. Web site: Home - Questex . December 12, 2018 . Questex LLC. https://web.archive.org/web/20181212171155/https://www.questex.com/ . 2018-12-12 .
  29. https://www.questex.com/ Questex main web page
  30. de la Merced, Michael J., "Bushnell, Maker of Gun Accessories, Is Sold for $985 Million", New York Times Deal Book, September 5, 2013. Retrieved 2019-05-24.
  31. Web site: HIG becomes Jenny Craig's latest PE backer PitchBook. pitchbook.com. en. 2020-02-09.
  32. Vasquez, Justina, "Church & Dwight to Buy Water Pik for $1 Billion", Wall Street Journal, July 17, 2017. Dental equipment and showerhead company. Retrieved 2017-07-17.
  33. Web site: Leadership. Official Website. 2 June 2020.

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