Searchlight Capital Explained

Searchlight Capital Partners
Type:Private
Location City:745 Fifth Avenue, New York, NY 10151
Location Country:US
Locations:New York City, London, Toronto
Founder:Eric Zinterhofer
Oliver Haarmann
Erol Uzumeri
Area Served:North America, Europe
Industry:Private equity
Aum:US$15 billion (2023)
Homepage:http://www.searchlightcap.com/

Searchlight Capital Partners is a private equity firm based in the United States, United Kingdom and Canada, with $15 billion in assets under management.[1]

History

Searchlight Capital was founded in 2010 by Eric Zinterhofer, Oliver Haarmann, and Erol Uzumeri, its founding partners.[2] [3] It has offices in New York City, London and Toronto.

In January 2012, Searchlight Capital completed the acquisition of the famed rubber Wellington Boot manufacturer Hunter Boot Ltd.[4] In April 2012, Searchlight closed its first fund Searchlight Fund I at $860m.[5]

In July 2014, Searchlight Capital acquired the Canadian meat and frozen food retail chain M&M Food Market.[6]

In June 2015, Searchlight Capital (40%) and Liberty Global (60%) jointly acquired Choice Cable TV, Puerto Rico's second-largest cable operator, for US$272.5 million.[3] In October 2015, the company acquired a majority stake in the Canadian apparel brand Roots Canada, with a minority stake still held by its founders.[7]

In December 2015, Searchlight closed its second fund with $1.94 billion of commitments.

In April 2018, Searchlight acquired Canadian enterprise telecommunications company Mitel in an all-cash transaction of $2 billion.[8]

In July 2021, Searchlight acquired the fixed wireless Internet Service Provider All Points Broadband.[9] In October 2021 Searchlight acquired a minority stake of M&A insurance MGA Euclid Transactional, based in New York.[10]

In November 2020, Searchlight Capital closed Fund III at $3.4billion,[11] beating $2.75billion target.[12]

In October 2022, Searchlight Capital bought a minority stake of Singapore shipmanager Synergy Marine Group in an undisclosed deal.[13] [14]

In April 2023, Searchlight Capital became bidding partner of Providence Equity for its agreed takeover offer of global event organiser Hyve Group,[15] with the deal completed in June 2023.[16] In May 2023, Searchlight, together with payments company Rev Worldwide, acquired Netspend consumer business from Global Payments in an all-cash transaction valued at $1 billion.[17] [18]

In July 2023, the company announced the acquisition of Gresham House, a UK-based asset manager listed on the London Stock Exchange, in a £470 million deal.[19] [20]

Notable persons

Notes and References

  1. Web site: Searchlight Capital Partners . 2024-05-30 . radientanalytics.com.
  2. Web site: Company Overview of Searchlight Capital Partners. Bloomberg LP. 20 February 2018.
  3. Web site: Searchlight Capital nears $1 bln first close - PE Hub. 6 July 2015. pehub.com. 20 February 2018.
  4. Web site: Searchlight Capital Partners, Hutton Collins Partners and Three Hills Capital Partners acquired Hunter Boot. Mergr. 2011-12-16. 2021-03-01.
  5. Web site: 4 April 2012 . Searchlight Capital raises $860m for first fund . 26 July 2024 . Private Equity News.
  6. News: . Searchlight Capital Partners buys M&M meat shops. CBC News. 2014-07-30. 2021-03-01.
  7. News: . Roots Canada sells majority stake to Searchlight Capital. CBC News. 2015-10-26. 2021-03-01.
  8. News: Lunden. Ingrid. 2018-04-24. Enterprise Firm Mitel to be acquired for $2B by Rackspace investor Searchlight. Techcrunch. 2021-03-01.
  9. Web site: 2021-07-06 . Searchlight Capital Partners Makes Strategic Investment in All Points Broadband. 2021-10-21.
  10. Web site: 2021-10-25 . Euclid Transactional secures Searchlight Capital as new minority investor . 2024-05-30 . The Insurer . en-US.
  11. Web site: 18 November 2020 . Searchlight Capital Partners Closes Third Fund at $3.4 Billion . 27 July 2024 . Business Wire.
  12. Web site: 19 November 2020 . Searchlight Capital’s third fund hits $3.4bn at final close . 27 July 2024 . Private Equity News.
  13. Web site: Ajdin . Adis . 2022-10-09 . Searchlight Capital buys into Synergy . 2024-05-30 . Splash247 . en-GB.
  14. Web site: Searchlight Capital Partners Invests In Synergy Marine Mergr M&A Deal Summary . 2024-05-30 . mergr.com.
  15. Web site: 2023-04-03 . Providence brings in Searchlight as partner for Hyve offer . 2024-05-30 . Conference News . en-GB.
  16. Web site: Hyve acquisition by Providence and Searchlight completed . 2024-05-30 . Exhibition World . en.
  17. Web site: Rêv and Searchlight partner to acquire Netspend for $1b . 2024-06-01 . IBS Intelligence . en-US.
  18. News: Rêv and Searchlight Complete Acquisition of Netspend for $1 Billion . 2024-06-01 . en.
  19. Web site: Alim . Arjun Neil . 2023-07-17 . Searchlight Capital buys UK asset manager Gresham for £470mn . 2023-07-17 . www.ft.com.
  20. News: 2023-07-17 . Searchlight to buy UK asset manager Gresham House for $615 mln . en . Reuters . 2023-07-17.
  21. Web site: Team . 2024-08-22 . Searchlight Capital . en-US.
  22. Web site: Eric L. Zinterhofer Charter Communications . 2024-08-22 . corporate.charter.com . en.
  23. Web site: 6 May 2010 . Zinterhofer to leave Apollo to start own firm . 22 August 2024 . Financial News.
  24. Web site: 5 May 2010 . Zinterhofer to Leave Apollo, Start Own Firm . 22 August 2024 . The Wall Street Journal.

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