MidOcean Partners

MidOcean Partners

Type	Private Ownership
Industry	Private Equity
Founder	Ted Virtue New York City, United States London, England, United Kingdom
Products	Private equity funds, Leveraged buyouts
Total assets	$3.5 billion^[1]
Website	www.MidOceanPartners.com

MidOcean Partners is an American private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies. The firm has historically focused on investments in middle market companies in four core industries including business services; consumer and leisure companies, media and niche industrial services.

The firm, founded in February 2003,^[2] is based in Midtown Manhattan, New York City,^[3] with an office in London and more than 20 investment professionals globally. 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.

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. 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.

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).

Since its inception, MidOcean has managed three private equity funds:

MidOcean Partners – Approximately $2 billion vehicle used to house the investments acquired from Deutsche Bank through the secondary purchase.
MidOcean Partners Fund II – $520 million of investor commitments, primarily from investors in the original 2003 secondary transaction.
MidOcean Partners Fund III - $1.25 billion raised as a fully independent private equity fund in 2007

Investments

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

Bushnell Corporation
Casablanca Fan Company
Center Parcs UK
Hunter Fan Company
Jenny Craig, Inc.
Jostens
LA Fitness (Europe) ^[4]—unaffiliated with American LA Fitness company
Palace Entertainment
Prestige Brands
Sbarro
Stratus Technologies
Totes-Isotoner
United Biscuits
Young America Corporation
LegalShield

References

"Former Deutsche Buyout Arm Raised $1 billion for New Fund." New York Times, July 19, 2006
"MidOcean Partners to Raise $1 billion fund", eFinancial News, January 9, 2006
"Goldman Sachs, CPPIB Lead $925M Secondary Buy."Buyouts, April 17, 2006
Secondaries grow in stature

↑ Funds raised since inception
↑ "Credit Suisse Gets Federal Nod to Sell DLJ Merchant Banking to Coller". Dow Jones. Retrieved 1 September 2015.
↑ "Contact." MidOcean Partners. Retrieved on March 5, 2010.
↑ O'Brien, Bob (4 June 2015). "MidOcean Partners struggles to put rocky performance in past". The Deal. Retrieved 11 June 2015.

External links

MidOcean Partners (company website)

Private equity and venture capital investment firms

Investment strategy	Venture Growth Mezzanine Secondaries Leveraged buyout

History	History of private equity and venture capital Early history of private equity Private equity in the 1980s Private equity in the 1990s Private equity in the 2000s

Investors	Angel investor Corporate venture capital Commercial bank Crowdfunding Institutional investor Insurance company Investment bank Endowment Family office Fund of funds High-net-worth individual Merchant bank Pension fund Sovereign wealth fund

Private equity firms Venture capital firms Portfolio companies

Merchant banking private equity groups (current and prior)

ABN Amro AAC Capital Partners Bank of America Ridgemont Equity Partners Merrill Lynch Global Private Equity Barclays Capital Barclays Private Equity Barings Bank Baring Vostok Capital Partners GP Investments Bear Stearns Irving Place Capital (fka BSMB) CIBC World Markets Trimaran Capital Partners Citigroup Metalmark Capital Court Square Capital Partners CVC Capital Partners Credit Suisse DLJ Merchant Banking Avista Capital Partners Diamond Castle Holdings Deutsche Bank MidOcean Partners First Chicago Bank (defunct) Madison Dearborn Partners GTCR Goldman Sachs Goldman Sachs Capital Partners JPMorgan Chase CCMP Capital (fka JPMorgan Partners) One Equity Partners Lazard Lazard Alternative Investments Lehman Brothers (defunct) Trilantic Capital Partners Morgan Stanley Metalmark Capital Morgan Stanley Capital Partners Nomura Terra Firma Capital Partners UBS UBS Capital Affinity Equity Partners Capvis Lightyear Capital Wells Fargo Norwest Venture Partners Pamlico Capital William Blair & Company Chicago Growth Partners William Blair Capital Partners

List of investment banking private equity groups

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