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96-680: Ahlstrom operates in Europe, North and South America as well as in Asia. Most production sites are located in Europe. The head office is located in Helsinki, Finland. Ahlstrom's customers represent several industries, including automotive , furniture , construction , healthcare and life science , food and beverage and energy sectors. The company has some 7,000 employees worldwide and 37 production or converting facilities in 13 countries. The company's net sales in 2023 amounted to EUR 3.0 billion. The company

192-407: A $ 5.5 billion offer for both the toy and baby supplies businesses. The Toys 'R' Us buyout was one of the largest in several years. Following this transaction, by the end of 2004 and in 2005, major buyouts were once again becoming common and market observers were stunned by the leverage levels and financing terms obtained by financial sponsors in their buyouts. The following year, in 2005, Bain

288-513: A 16-fold gain. Bain invested the $ 37 million of capital in its first fund in twenty companies and by 1989 was generating an annualized return in excess of 50 percent. By the end of the decade, Bain's second fund, raised in 1987 had deployed $ 106 million into 13 investments. As the firm began organizing around funds, each such fund was run by a specific general partnership—that included all Bain Capital executives as well as others—which in turn

384-581: A 20% stake in Tower Ltd from Australian financial conglomerate Suncorp . In January 2019, Bain Capital purchased a majority stake in technology consultancy Brillio . In October 2018, Bain Capital Private Equity and Bain Capital Life Sciences committed $ 350 million to a new biopharmaceutical company Cerevel Therapeutics . However, only $ 250 million of the committed amount was drawn. A deal

480-499: A 30% stake in Genpact Ltd., India's largest business process and call center outsourcing firm, for $ 1 billion. Later that year, the company acquired hand and power tool company Apex Tool Group for roughly $ 1.6 billion. In May 2013, Bain Capital partnered with investment firms Golden Gate Capital , GIC Private Limited , and Insight Venture Partners to purchase BMC Software for roughly $ 6.9 billion. In December 2013,

576-611: A 50% interest in Bombardier Inc. 's recreational products division, along with the Bombardier family and the Caisse de dépôt et placement du Québec , and created Bombardier Recreational Products or BRP. In 2004 a consortium comprising KKR, Bain Capital, and real estate development company Vornado Realty Trust announced the $ 6.6 billion acquisition of Toys "R" Us , the toy retailer. A month earlier, Cerberus Capital Management , made

672-430: A car, and prefer other modes of transport. Other potentially powerful automotive markets are Iran and Indonesia . Emerging automobile markets already buy more cars than established markets. According to a J.D. Power study, emerging markets accounted for 51 percent of the global light-vehicle sales in 2010. The study, performed in 2010 expected this trend to accelerate. However, more recent reports (2012) confirmed

768-627: A completely separate company. Initially, the two firms shared the same offices—in an office tower at Copley Place in Boston —and a similar approach to improving business operations. However, the two firms had put in place certain protections to avoid sharing information between the two companies and the Bain & Company executives had the ability to veto investments that posed potential conflicts of interest. Bain Capital also provided an investment opportunity for partners of Bain & Company. The firm initially gave

864-504: A consortium consisting of Ahlström Capital, funds managed by Bain Capital as well as Viknum and Belgrano Inversiones completed a tender offer for all shares in Ahlstrom-Munksjö. Ahlstrom-Munksjö became a privately held company (Ahlstrom-Munksjö Holding) and its shares were delisted from Nasdaq Helsinki and Nasdaq Stockholm. In 2022, Ahlstrom-Munksjö divested its Decor business to a newly formed Swedish company named Munksjö AB. Following

960-573: A cut of its profits to Bain & Company, but Romney later persuaded Bill Bain to give that up. The Bain Capital team was initially reluctant to invest its capital. By 1985, things were going poorly enough that Romney considered closing the operation, returning investors' money to them, and having the partners go back to their old positions. The partners saw weak spots in so many potential deals that by 1986, very few had been done. At first, Bain Capital focused on venture capital opportunities. One of Bain's earliest and most notable venture investments

1056-735: A deal to invest up to $ 432 million in Chinese electronics manufacturer GOME Electrical Appliances for a stake of up to 23%. In 2010, the company acquired Styron, a division of The Dow Chemical Company , for $ 1.6 billion, and also acquired Gymboree for $ 1.8 billion. In 2011, the company, together with Hellman & Friedman, acquired Securitas Direct AB . Hellman & Friedman purchased Bain Capital's remaining stake in Securitas Direct in October 2015. In 2012, Bain Capital acquired Physio-Control for $ 478 million, and also acquired

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1152-538: A global sales network. The headquarter office is in Helsinki, Finland. Automotive industry The automotive industry comprises a wide range of companies and organizations involved in the design , development , manufacturing , marketing , selling , repairing , and modification of motor vehicles . It is one of the world's largest industries by revenue (from 16% such as in France up to 40% to countries such as Slovakia). The word automotive comes from

1248-544: A group of major car manufacturers including GM , Ford , Volvo , BYD Auto , Jaguar Land Rover and Mercedes-Benz committed to "work towards all sales of new cars and vans being zero emission globally by 2040, and by no later than 2035 in leading markets". Major car manufacturing nations like the United States, Germany, China, Japan and South Korea, as well as Volkswagen , Toyota , Peugeot , Honda , Nissan and Hyundai , did not pledge. The global automotive industry

1344-419: A major brand overhaul including the use of The Burger King character in advertising. In February 2006, Burger King announced plans for an initial public offering . In late 2002, Bain remained active acquiring Houghton Mifflin for $ 1.28 billion, together with Thomas H. Lee Partners and Blackstone Group . Houghton Mifflin and Burger King represented two of the first large club deals , completed since

1440-603: A majority interest in a paper mill in Mathi close to Turin , Italy , that produced filter papers and rifle cartridge paper. This was the first significant international acquisition made by a Finnish company and made Ahlstrom a pioneer among major Finnish companies in internationalization. The town of Varkaus grew up around the A. Ahlström paper mills. In the 1930s, the Sunila Plant in Karhula (now Kotka ), designed by Alvar Aalto ,

1536-524: A nearly sevenfold return on its investment, and Romney sat on the Staples board of directors for over a decade. Another very successful investment occurred in 1986 when $ 1 million was invested in medical equipment maker Calumet Coach, which eventually returned $ 34 million. A few years later, Bain Capital made an investment in the technology research outfit the Gartner Group , which ended up returning

1632-560: A plan to merge the two companies. In 2017, Ahlstrom sold its Osnabruck, Germany plant to Kammerer. The completion of the merger of Ahlstrom Corporation into Munksjö Oyj was registered with the Finnish Trade Register on 1 April 2017. Following the completion of the merger, the name of the combined company has changed to Ahlstrom-Munksjö Oyj (“Ahlstrom-Munksjö”). Trading in the new Ahlstrom-Munksjö shares issued to Ahlstrom's shareholders as merger consideration commenced 1 April 2017 on

1728-454: A producer of umbrellas and overshoes. Three years later, Totes, under Bain's ownership, acquired Isotoner, a producer of leather gloves. Bain, together with Thomas H. Lee Partners , acquired Experian , the consumer credit reporting business of TRW Inc. , in 1996 for more than $ 1 billion. Formerly known as TRW's Information Systems and Services unit, Experian is one of the leading providers of credit reports on consumers and businesses in

1824-461: A scheduling platform created by Drive Capital . In August 2023, Bain Capital took private Chindata Group Holdings, a data center company based in Beijing, in a deal valued at approximately $ 3.2 billion. In December 2023, Infroneer Holdings, a Japanese civil engineering group, had disclosed its intent to acquire Japan Wind Development from Bain Capital for an estimated $ 1.4 billion. In April 2024,

1920-485: A stationary car, to a conveyor belt system where the car passed through multiple stations of more specialized engineers. Starting in the 1960s, robotic equipment was introduced to the process, and most cars are now mainly assembled by automated machinery. For many decades, the United States led the world in total automobile production, with the U.S. Big Three General Motors , Ford Motor Company , and Chrysler being

2016-493: A top producer 1950s : United Kingdom, Germany, and France restarted production. 1960s : Japan started production and increased volume through the 1980s. United States, Japan, Germany, France, and the United Kingdom produced about 80% of motor vehicles through the 1980s. 1990s : South Korea became a volume producer. In 2004, Korea became No. 5 passing France. 2000s : China increased its production drastically, and became

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2112-529: A value of over £530 million, an amount set to provide a windfall payout to LV='s customers. In November 2021, the company invested $ 200 million into Mixpanel . Bain Capital invested in health insurance brokerage firm Enhance Health. On November 5, 2021, it was reported that Bain Capital planned to list Brillio on the NASDAQ , with an IPO of valuation $ 3 billion or more, including debt. Bain Capital also invested $ 200 million into When I Work,

2208-456: A year, after reaching 29 million for the first time in 2017 and 28 million the year before. From 1970 (140 models) over 1998 (260 models) to 2012 (684 models), the number of automobile models in the U.S. has grown exponentially. Safety is a state that implies being protected from any risk, danger, damage, or cause of injury. In the automotive industry, safety means that users, operators, or manufacturers do not face any risk or danger coming from

2304-643: Is a major consumer of water. Some estimates surpass 180,000 L (39,000 imp gal) of water per car manufactured, depending on whether tyre production is included. Production processes that use a significant volume of water include surface treatment, painting, coating, washing, cooling, air-conditioning, and boilers, not counting component manufacturing. Paintshop operations consume especially large amounts of water because equipment running on water-based products must also be cleaned with water. In 2022, Tesla's Gigafactory Berlin-Brandenburg ran into legal challenges due to droughts and falling groundwater levels in

2400-463: Is a primary mode of transportation for many developed economies. The Detroit branch of Boston Consulting Group predicted that, by 2014, one-third of world demand would be in the four BRIC markets (Brazil, Russia, India, and China). Meanwhile, in developed countries, the automotive industry has slowed. It is also expected that this trend will continue, especially as the younger generations of people (in highly urbanized countries) no longer want to own

2496-477: Is an American private investment firm based in Boston , Massachusetts , with around $ 185 billion of assets under management. It specializes in private equity , venture capital , credit, public equity, impact investing , life sciences, crypto , tech opportunities, partnership opportunities, special situations, and real estate . Bain Capital invests across a range of industry sectors and geographic regions. The firm

2592-507: Is considered one of the best practice frameworks for achieving automotive functional safety . In case of safety issues, danger, product defect , or faulty procedure during the manufacturing of the motor vehicle, the maker can request to return either a batch or the entire production run. This procedure is called product recall . Product recalls happen in every industry and can be production-related or stem from raw materials. Product and operation tests and inspections at different stages of

2688-506: Is led by Helen Mets, President and CEO. The creation of the Munksjö paper mill in 1862 was due to a chance meeting of two men: Janne Lundström, an inventor and industrialist from Jönköping, and Lars Johan Hierta, a prominent financier, publisher and politician. Ahlstrom has its roots in Finland : the founder, Antti Ahlström , was one of Finland's most prominent 19th-century businessmen. The company

2784-708: The Armco Worldwide Grinding System steel plant in Kansas City, Missouri and merged it with its steel plant in Georgetown, South Carolina to form GST Steel . The Kansas City plant had a strike in 1997 and Bain closed the plant in 2001, laying off 750 workers when it went into bankruptcy. The South Carolina plant closed in 2003 but subsequently reopened under a different owner. At the time of its bankruptcy it reported $ 553.9 million in debts against $ 395.2 in assets. Bain reported $ 58.4 million in profits,

2880-495: The Greek autos (self), and Latin motivus (of motion ), referring to any form of self-powered vehicle. This term, as proposed by Elmer Sperry (1860–1930), first came into use to describe automobiles in 1898. The automotive industry began in the 1860s with hundreds of manufacturers pioneering the horseless carriage . Early car manufacturing involved manual assembly by a human worker. The process evolved from engineers working on

2976-462: The PSA Group had been in the top 8 1999 to 2012, and 2007 to 2012 one of the eight largest along with the seven largest as of 2017) and the five largest in the top 5 positions since 2007, according to OICA, which, however, stopped publishing statistics of motor vehicle production by manufacturer after 2017. All ten remained as the ten largest automakers by sales until the merger between Fiat-Chrysler and

Ahlstrom-Munksjö - Misplaced Pages Continue

3072-595: The U.S. Securities and Exchange Commission as "sole shareholder, sole director, Chief Executive Officer and President". The SEC filings reflected the legal reality and the ownership interest in the Bain Capital management company. In practice, former Bain partners have stated that Romney's attention was mostly occupied by his Olympics position. He did stay in regular contact with his partners, and traveled to meet with them several times, signing corporate and legal documents and paying attention to his own interests within

3168-485: The value chain are made to avoid these product recalls by ensuring end-user security and safety and compliance with the automotive industry requirements. However, the automotive industry is still particularly concerned about product recalls, which cause considerable financial consequences. In 2007, there were about 806 million cars and light trucks on the road, consuming over 980 billion litres (980,000,000 m ) of gasoline and diesel fuel yearly. The automobile

3264-553: The 1990s as a result of increased pressure from national discount chains such as Walmart and Target , filed for Chapter 11 bankruptcy protection in January 2004. Bain had been able to recover value on its investment through a dividend recapitalization in 2003. In early 2001, Bain agreed to purchase a 30 percent stake, worth $ 600 million, in Huntsman Corporation , a leading chemical company owned by Jon Huntsman, Sr. , but

3360-445: The 1990s found that the firm lost money or broke even on 33 of them. Another study that looked at the eight-year period following 77 deals during the same time found that in 17 cases the company went bankrupt or out of business, and in 6 cases Bain Capital lost all its investment. But 10 deals were very successful and represented 70 percent of the total profits. Romney had two diversions from Bain Capital during

3456-548: The Frist family (which had founded the company) completed a $ 31.6 billion acquisition of Hospital Corporation of America , 17 years after it was taken private for the first time in a management buyout. At the time of its announcement, the HCA buyout was the first of several to set new records for the largest buyout, eclipsing the 1989 buyout of RJR Nabisco . It was later surpassed by the buyouts of EQ Office and TXU . In August 2006, Bain

3552-516: The Nasdaq Helsinki (trading code: AM1) and Nasdaq Stockholm (trading code: AM1S) stock exchanges. In 2018, Ahlstrom-Munksjö acquired U.S. based Expera Specialty Solutions and Brazilian Caieiras specialty paper mill. In September 2020, it was reported that a consortium consisting of Ahlström Capital, funds managed by Bain Capital, and Viknum and Belgrano Inversiones has submitted a cash purchase offer for all Ahlstrom-Munksjö Oyj's shares. In 2021,

3648-645: The PSA Group in early 2021 ; only Renault was degraded to 11th place, in 2022, when being surpassed by both BMW (which became the 10th largest in 2021) and Chang'an . These were the twenty largest manufacturers by production volume in 2012 and 2013, or the 21 largest in 2011 (before the Fiat-Chrysler merger ), of which the fourteen largest as of 2011 were in the top 14 in 2010, 2008 and 2007 (but not 2009, when Changan and Mazda temporarily degraded Chrysler to 16th place). The eighteen largest as of 2013 have remained in

3744-423: The U.S. was overtaken by Japan and then became a world leader again in 1994. Japan narrowly passed the U.S. in production during 2006 and 2007, and in 2008 also China , which in 2009 took the top spot (from Japan) with 13.8 million units, although the U.S. surpassed Japan in 2011, to become the second-largest automobile industry. In 2023, China had for the first time in history more than 30 million produced vehicles

3840-560: The US. The company was sold to Great Universal Stores for $ 1.7 billion just months after being acquired. Other notable Bain investments of the late 1990s, included Sealy Corporation , the manufacturer of mattresses; Alliance Laundry Systems ; Domino's Pizza and Artisan Entertainment. Much of the firm's profits was earned from a relatively small number of deals, with Bain Capital's overall success and failure rate being about even. One study of 68 deals that Bain Capital made up through

3936-489: The United States, Sweden and the United Kingdom. Recently, Ahlstrom is among the largest Nordic companies . The Ahlström family are still significant shareholders in the Ahlstrom Corporation. In 2001, the group split into three companies. The manufacturing divisions were transferred to the now public Ahlstrom Corporation. Ahlstrom Capital Oy was established as a private investment company. And A.Ahlstrom Osakeyhtio

Ahlstrom-Munksjö - Misplaced Pages Continue

4032-637: The Williamhouse-Regency Division of Delaware, Inc. in October 1995, Niagara Envelope Company, Inc. in 1996, and Shade/Allied, Inc. in February 1997. Ampad's revenue began to decline in 1997, and the company laid off employees and closed production facilities to maintain profitability. Employment declined from 4,105 in 1996 to 3,800 in 2000. The company ceased trading on the New York stock exchange on December 22, 2000, and filed for bankruptcy in 2001. At

4128-499: The acquisition of Burlington Coat Factory , a discount retailer operating 367 department stores in 42 states, in a $ 2 billion buyout transaction. Six months later, in October 2006, Bain and The Blackstone Group acquired Michaels Stores , the largest arts and crafts retailer in North America in a $ 6.0 billion leveraged buyout. Bain and Blackstone narrowly beat out Kohlberg Kravis Roberts and TPG Capital in an auction for

4224-612: The announcement of the HD Supply deal, on June 27, Bain announced the acquisition of Guitar Center , the leading musical equipment retailer in the U.S. Bain paid $ 1.9 billion, plus $ 200 million in assumed debt, representing a 26% premium to the stock's closing price prior to the announcement. Bain also acquired Edcon Limited , which operates Edgars Department Stores in South Africa and Zimbabwe for 25 billion rand ($ 3.5 billion) in February 2007. Other investments during

4320-838: The buyout boom included: Bavaria Yachtbau , acquired for €1.3 billion in July 2007 as well as Sensata Technologies, acquired from Texas Instruments in 2006 for approximately $ 3 billion. It is noted that Bain Capital seldom engages in reinvesting in its own companies that ran into difficulties. This was the case with Dade Behring , which was sold after emerging from a bankruptcy. In July 2008, Bain Capital, together with NBC Universal and Blackstone Group agreed to purchase The Weather Channel from Landmark Communications . The company also partnered with Thomas H. Lee Partners to acquire Clear Channel Communications in July 2008. That same year, Bain Capital acquired D&M Holdings for $ 442 million. In June 2009, Bain Capital announced

4416-461: The chance to head a new venture that would invest in companies and apply Bain's consulting techniques to improve operations. In addition to the three founding partners, the early team included Fraser Bullock , Robert F. White , Joshua Bekenstein , Adam Kirsch, and Geoffrey S. Rehnert. Romney initially held the titles of president and managing general partner or managing partner. He later became referred to as managing director or CEO as well. He

4512-702: The collapse of the Dot-com bubble . In November 2003, Bain completed an investment in Warner Music Group through an acquisition by Edgar Bronfman Jr. In 2004 Bain acquired the Dollarama chain of dollar stores , based in Montreal , Quebec , Canada and operating stores in the provinces of Eastern Canada for $ 1.05 billion CAD . In March 2004, Bain acquired Brenntag Group from Deutsche Bahn AG (Exited in 2006; sold to BC Partners for $ 4B). In August 2003, Bain acquired

4608-809: The company acquired a majority stake in the clothing chain Canada Goose Inc. In April 2014, Bain Capital purchased a controlling stake in Viewpoint Construction Software, a construction-specific software company, for $ 230 million. In November 2014, the company and Virgin Group announced the creation of a new cruise line, which is currently known as Virgin Voyages . Later that year, Bain agreed to purchase four divisions of CRH for roughly $ 650 million. In March 2015, Bain Capital agreed to buy Blue Coat Systems for roughly $ 2.4 billion. In 2016,

4704-422: The company entered into bankruptcy in 2002. Following its restructuring, Dade Behring emerged from Bankruptcy in 2003 and continued to operate independently until 2007 when the business was acquired by Siemens Medical Solutions . Bain and Goldman lost their remaining stock in the company as part of the bankruptcy. By the end of the decade, Bain Capital was on its way to being one of the top private equity firms in

4800-510: The company public the following year. Bain Capital began the new decade by closing on its seventh fund, Bain Capital Fund VII, with over $ 3.1 billion of investor commitments. The firm's most notable investments in 2000 included the $ 700 million acquisition of Datek, sold to TD Ameritrade in 2002, as well as the $ 305 million acquisition of KB Toys from Consolidated Stores . KB Toys, which had been financially troubled since

4896-614: The company to convert much of its production to support the Finnish war effort. Following the war, the company played a major role in Finland's reconstruction and in its war reparations obligation. Ahlstrom alone accounted for nearly 15 percent of the country's total reparations. The company continued to expand into the 1950s, stepping up its engineering operations while also expanding into chemical wood processing technology. Ahlstrom Corporation began to rapidly grow internationally in 1963, by acquiring

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4992-746: The company with DuPont's in vitro diagnostics business in May 1996 and subsequently with the Behring Diagnostics division of Hoechst AG in 1997. Aventis , the successor of Hoechst, acquired 52% of the combined company. In 1999, the company reported $ 1.3 billion of revenue and completed a $ 1.25 billion leveraged recapitalization that resulted in a payout to shareholders. The dividend, taken together with other previous shareholder dividends resulted in an eightfold return on investment to Bain Capital and Goldman Sachs. Revenues declined from 1999 through 2002 and despite attempts to cut costs through layoffs

5088-434: The company. In June 2007, Bain agreed to acquire HD Supply , the wholesale construction supply business of Home Depot for $ 10.3 billion. Bain, along with partners Carlyle Group and Clayton, Dubilier & Rice , would later negotiate a lower price ($ 8.5 billion) when the initial stages of the subprime mortgage crisis caused lenders to seek to renegotiate the terms of the acquisition financing. Just days after

5184-532: The consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. Bain led a consortium, together with The Carlyle Group and Thomas H. Lee Partners to acquire Dunkin' Brands . The private equity firms paid $ 2.425 billion in cash for the parent company of Dunkin' Donuts and Baskin-Robbins in December 2005. In 2006, Bain Capital and Kohlberg Kravis Roberts , together with Merrill Lynch and

5280-527: The deal was never completed. With a significant amount of committed capital in its new fund available for investment, Bain was one of a handful of private equity investors capable of completing large transactions in the adverse conditions of the early 2000s recession . In July 2002, Bain together with TPG Capital and Goldman Sachs Capital Partners , announced the high-profile $ 2.3 billion leveraged buyout of Burger King from Diageo . However, in November

5376-484: The employee pension fund had a liability of $ 44 million. Bain's investment in Dade Behring represented a significant investment in the medical diagnostics industry. In 1994, Bain, together with Goldman Sachs Capital Partners completed a carveout acquisition of Dade International, the medical diagnostics division of Baxter International in a $ 440 million acquisition. Dade's private equity owners merged

5472-428: The end of 1990, Bain had raised $ 175 million of capital and financed 35 companies with combined revenues of $ 3.5 billion. In July 1992, Bain acquired Ampad (originally American Pad & Paper) from Mead Corporation , which had acquired the company in 1986. Mead, which had been experiencing difficulties integrating Ampad's products into its existing product lines, generated a cash gain of $ 56 million on

5568-402: The end of the 1980s, leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor . The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. The involvement of seven firms in

5664-839: The firm and 11North Partners announced the formation of a partnership for the acquisition and operation of open-air retail centres throughout the US and Canada. Bain Capital's businesses include private equity , venture capital , public equity , and credit. The firm also has specialized businesses focused on impact investing, life sciences and real estate. Bain Capital Private Equity has invested across several industries, geographies, and business life cycles. Bain Capital Private Equity also operates in Europe, Australia, and Asia. Historically, Bain Capital has primarily relied on private equity funds , pools of committed capital from pension funds , insurance companies , endowments , fund of funds , high-net-worth individuals , sovereign wealth funds , and other institutional investors . According to

5760-482: The firm and to his departure negotiations. Bain Capital Fund VI in 1998 was the last one Romney was involved in; investors were worried that with Romney gone, the firm would have trouble raising money for Bain Capital Fund VII in 2000, but in practice the $ 2.5 billion was raised without much trouble. His former partners have said that Romney had no role in assessing other new investments after February 1999, nor

5856-464: The firm during the 1999-2002 period also garnered attention. In 2000, DIC Entertainment chairman and CEO Andy Heyward partnered with Bain Capital Inc in a management buyout of DIC from The Walt Disney Company . Heyward continued as chairman and CEO of the animation studio, which has more than 2,500 half-hours of programming in its library. He purchased Bain Capital's interest in 2004 and took

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5952-507: The firm named Jonathan Lavine and John Connaughton as co-managing partners, and also named Steven Pagliuca and Joshua Bekenstein as co-chairman. In March 2017, Bain Capital agreed to acquire industrial cleaning company Diversey for $ 3.2 billion. Later that year, Bain partnered with Cinven to take German company Stada Arzneimittel private. In February 2018, Bain Capital Private Equity agreed to acquire Dutch stroller brand Bugaboo International . In March 2018, Bain Capital purchased

6048-464: The firm was finalized in early 2002. Romney negotiated a ten-year retirement agreement with Bain Capital that allowed him to receive a passive profit share and interest as a retired partner in some Bain Capital entities, including buyout and Bain Capital investment funds, in exchange for his ownership in the management company. Because the private equity business continued to thrive, this deal would bring him millions of dollars in annual income. Romney

6144-632: The first half of the decade. From January 1991 to December 1992, Romney was the CEO of Bain & Company where he led the successful turnaround of the consulting firm (he remained managing general partner of Bain Capital during this time). In November 1993, he took a leave of absence for his unsuccessful 1994 run for the U.S. Senate seat from Massachusetts ; he returned the day after the election in November 1994. During that time, Ampad workers went on strike, and asked Romney to intervene; Bain Capital lawyers asked him not to get involved, although he did meet with

6240-545: The head of the Salt Lake Organizing Committee for the 2002 Winter Olympics . The decision caused turmoil at Bain Capital, with a power struggle ensuing. Some partners left and founded the Audax Group and Golden Gate Capital . Other partners threatened to leave, and there was a prospect of eight-figure lawsuits being filed. Romney was worried that the firm might be destroyed, but the crisis ebbed. Romney

6336-479: The list below) currently possess the capability to design original production automobiles from the ground up, and 17 countries (listed below) have at least one million produced vehicles a year (as of 2023). These were the ten largest manufacturers by production volume as of 2017, of which the eight largest were in the top 8 positions since Fiat's 2013 acquisition of the Chrysler Corporation (although

6432-401: The motor vehicle or its spare parts. Safety for the automobiles themselves implies that there is no risk of damage. Safety in the automotive industry is particularly important and therefore highly regulated. Automobiles and other motor vehicles have to comply with a certain number of regulations, whether local or international, in order to be accepted on the market. The standard ISO 26262 ,

6528-402: The nation, having increased its number of partners from 5 to 18, having 115 employees overall, and having $ 4 billion under its management. The firm's average annual return on investments was 113 percent. It had made between 100 and 150 deals where it acquired and then sold a company. Romney took a paid leave of absence from Bain Capital in February 1999, when he became

6624-625: The opposite; namely that the automotive industry was slowing down even in BRIC countries. In the United States, vehicle sales peaked in 2000, at 17.8 million units. In July 2021, the European Commission released its " Fit for 55 " legislation package, which contains important guidelines for the future of the automotive industry; all new cars on the European market must be zero-emission vehicles from 2035. The governments of 24 developed countries and

6720-415: The original transaction collapsed when Burger King failed to meet certain performance targets. In December 2002, Bain and its co-investors agreed on a reduced $ 1.5 billion purchase price for the investment. The Bain consortium had support from Burger King's franchisees, who controlled approximately 92% of Burger King restaurants at the time of the transaction. Under its new owners, Burger King underwent

6816-601: The owner of the New England Patriots football team . They also included members of elite Salvadoran families such as Ricardo Poma whose capital fled the country's civil war . They and other wealthy Latin Americans invested $ 9 million primarily through offshore companies registered in Panama . While Bain Capital was founded by Bain executives, the firm was not an affiliate or a division of Bain & Company but rather

6912-408: The ownership reorganization, the company renamed itself as Ahlstrom, with a renewed logo where the symbol remains the same and the name is changed to Ahlstrom. Ahlstrom manages a broad platform of businesses, focusing on three divisions: Filtration & Life Sciences, Food & Consumer Packaging, Protective Materials. Ahlstrom products are developed and produced in 13 countries, with 37 plants and

7008-770: The region. Brandenburg's Economy Minister Joerg Steinbach said that while water supply was sufficient during the first stage, more would be needed once Tesla expands the site. The factory would nearly double the water consumption in the Gruenheide area, with 1.4 million cubic meters being contracted from local authorities per year — enough for a city of around 40,000 people. Steinbach said that the authorities would like to drill for more water there and outsource any additional supply if necessary. 1960s : Post-war increase 1970s : Oil crisis and tighter safety and emission regulation 1990s : Production started in NICs . 2000s : Rise of China as

7104-629: The relative value of Ahlstrom's specialty paper and engineering units. In the 1990s, Ahlstrom expanded its focus to include nonwoven products. At the end of 1996, Ahlstrom Corporation continued its expansion by acquiring the French specialty paper and nonwovens producer Sibille-Dalle. During that same year, Ahlstrom Corporation established the Ahlstrom Paper Group to encompass the company's fiber-based materials operations. In 2000, Ahlstrom acquired Dexter Corporation's nonwovens production facilities in

7200-611: The sale. Under Bain's ownership, the company enjoyed a significant growth in sales from $ 106.7 million in 1992 to $ 583.9 million in 1996, when the company was listed on the New York Stock Exchange . Under Bain's ownership, the company also made a number of acquisitions, including writing products company SCM in July 1994, brand names from the American Trading and Production Corporation in August 1995, WR Acquisition and

7296-536: The subject of political and media scrutiny as a result of co-founder Mitt Romney 's later political career, especially his 2012 presidential campaign . In June 2023, Bain Capital was ranked 13th in Private Equity International 's PEI 300 ranking of the largest private equity firms in the world. Bain Capital was founded in 1984 by Bain & Company partners Mitt Romney , T. Coleman Andrews III, and Eric Kriss , after Bill Bain had offered Romney

7392-519: The time of the bankruptcy, Bain Capital held a 34.9% equity ownership interest in the company. The assets were acquired in 2003 by Crescent Investments . Bain's eight years' of involvement in Ampad is estimated to have generated over $ 100 million in profits ($ 60 million in dividends, $ 45–50 million from the proceeds from stock issued after the company went public, and $ 1.5-2 million in annual management fees). In 1994, Bain acquired Totes ,

7488-481: The top 20 as of 2017, except Mitsubishi which fell out of top 20 in 2016, while Geely fell out of the top 20 in 2014 and 2015 but re-entered it in 2016. It is common for automobile manufacturers to hold stakes in other automobile manufacturers. These ownerships can be explored under the detail for the individual companies. Notable current relationships include: Bain Capital Bain Capital, LP

7584-512: The workers to tell them he had no position of active authority in the matter. In 1994, Bain invested in Steel Dynamics , based in Fort Wayne, Indiana , a prosperous steel company that has grown to the fifth largest in the US, employs about 6,100 people, and produces carbon steel products with 2010 revenues of $ 6.3 billion on steel shipments of 5.3 million tons. In 1993, Bain acquired

7680-457: The world's largest-producing country in 2009. 2010s : India overtakes Korea, Canada, Spain to become 5th largest automobile producer. 2013 : The share of China (25.4%), India, Korea, Brazil, and Mexico rose to 43%, while the share of United States (12.7%), Japan, Germany, France, and United Kingdom fell to 34%. The OICA counts over 50 countries that assemble, manufacture, or disseminate automobiles. Of those, only 15 countries ( boldfaced in

7776-476: The world's three largest auto manufacturers for a time, and G.M. and Ford remaining the two largest until the mid-2000s. In 1929, before the Great Depression , the world had 32,028,500 automobiles in use, of which the U.S. automobile enterprises produced more than 90%. At that time, the U.S. had one car per 4.87 persons. After 1945, the U.S. produced around three-quarters of the world's auto production. In 1980,

7872-460: Was also the sole shareholder of the firm. At the time, the firm had fewer than ten employees. In the face of skepticism from potential investors, Romney and his partners spent a year raising the $ 37 million in funds needed to start the new operation. Bain partners put in $ 12 million of their own money and sourced the rest from wealthy individuals. Early investors included Boston real estate mogul Mortimer Zuckerman and Robert Kraft ,

7968-507: Was announced in December 2023 to sell the firm to AbbVie for $ 8.7 billion which put Bain's 36.5% stake in Cerevel to about $ 2.7 billion giving a tenfold return on investment. In June 2020, Bain Capital purchased Virgin Australia . In October 2020, it was reported that the company was negotiating a takeover of UK-based insurance company Liverpool Victoria (LV=). The potential deal could have

8064-491: Was built by Ahlström. In the 1980s, in a large swap of facilities, the Varkaus works were handed over to Enso Gutzeit (now Stora Enso ). During the 1980s, Ahlstrom left the newsprint and magazine paper market and focused its operations on specialty papers. One of the most profound decisions in Finnish industrial history was made in 1987, when Ahlstrom unexpectedly sold its paper-producing units. Leaving newsprint production increased

8160-405: Was controlled by Bain Capital Inc., the management company that Romney had full ownership control of. As CEO, Romney had a final say in every deal made. In the 1990s, Bain Capital started several affiliates that supported its private equity and other assets classes. The long-short equity hedge fund, Brookside Capital, was founded in 1996 and, Sankaty Advisors, the company's fixed income affiliate,

8256-568: Was established as a private forestry and real estate management company. In October 2005, Professor Johan Erik Gullichsen, chairman of Ahlstrom Corporation, was inducted into the Paper Industry International Hall of Fame for his innovations in the processing of pulp fiber suspensions at medium consistency. In 2012, Ahlstrom Corporation announced that its Label and Processing business area will be combined with Munksjö Group. In 2016, Ahlstrom Corporation and Munksjö Oyj announced

8352-507: Was founded in 1851 and timber trading, shipping, and sawmill operations started to grow. The company focused on pulp , paper and timber production and machinery, later expanding to glassworks ( Iittala and Karhula ). Ahlstrom's paper production began in Varkaus in 1921 on Europe's largest paper production machine. By the beginning of the 1930s, Ahlstrom had grown into Finland's largest industrial conglomerate. The outbreak of World War II led

8448-975: Was founded in 1984 by partners from the consulting firm Bain & Company . The company is headquartered at 200 Clarendon Street in Boston with 22 offices in North America, Europe, Asia, and Australia. Since its establishment, Bain Capital has invested in or acquired hundreds of companies, including AMC Theatres , Artisan Entertainment , Aspen Education Group , Apex Tool Group , Brookstone , Burger King , Burlington Coat Factory , Canada Goose , DIC Entertainment , Domino's Pizza , DoubleClick , Dunkin' Donuts , D&M Holdings , Guitar Center , Hospital Corporation of America (HCA) , iHeartMedia , ITP Aero , KB Toys , Sealy , Sports Authority , Staples , Toys "R" Us , Virgin Australia , Virgin Voyages , Warner Music Group , Fingerhut , Athenahealth , The Weather Channel , Varsity Brands and Apple Leisure Group , which includes AMResorts and Apple Vacations. The company and its actions during its first 15 years became

8544-496: Was he involved in directing the company's investment funds. Discussions over the final terms of Romney's departure dragged on during this time, with Romney negotiating for the best deal he could get and his continuing position as CEO and sole shareholder giving him the leverage to do so. Although he had left open the possibility of returning to Bain after the Olympics, Romney made his crossover to politics in 1999. His separation from

8640-619: Was in Staples, Inc. , the office supply retailer . In 1986, Bain provided $ 4.5 million to two supermarket executives, Leo Kahn and Thomas G. Stemberg , to open an office supply supermarket in Brighton, Massachusetts . The fast-growing retail chain went public in 1989; by 1996, the company had grown to over 1,100 stores, and as of fiscal year-end January 2012, Staples reached over $ 20 billion in sales, nearly $ 1.0B in net income, 87,000 employees, and 2,295 stores. Bain Capital eventually reaped

8736-420: Was not involved in day-to-day operations of the firm after starting the Olympics position. Those were handled by a management committee, consisting of five of the fourteen remaining active partners with the firm. However, according to some interviews and press releases during 1999, Romney said he was keeping a part-time function at Bain. During his leave of absence, Romney continued to be listed in filings to

8832-410: Was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $ 11.3 billion. Bain's partners in the acquisition were Silver Lake Partners , TPG Capital , Goldman Sachs Capital Partners , Kohlberg Kravis Roberts , Providence Equity Partners , and Blackstone Group . This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at

8928-476: Was part of the consortium , together with Kohlberg Kravis Roberts , Silver Lake Partners , and AlpInvest Partners , that acquired a controlling 80.1% share of semiconductors unit of Philips for €6.4 billion. The new company, based in the Netherlands, was renamed NXP Semiconductors . During the buyout boom, Bain was active in the acquisition of various retail businesses. In January 2006, Bain announced

9024-476: Was started two years later. Building affiliates for the firm was directed by three conditions: that it leveraged its core skills; one of its Managing Directors has a leadership role; and, the new business invests in attractive asset class. Beginning in 1989, the firm, which began as a venture capital source investing in start-up companies , adjusted its strategy to focus on leveraged buyouts and growth capital investments in more mature companies. Their model

9120-433: Was the first and last CEO of Bain Capital; since his departure became final, it has continued to be run by management committee. Bain Capital itself, and especially its actions and investments during its first 15 years, came under press scrutiny as the result of Romney's 2008 and 2012 presidential campaigns , including accusations of Asset Stripping . Romney's leave of absence and the level of activity he had within

9216-486: Was to buy existing firms with money mostly borrowed against their assets, partner with existing management to apply Bain methodology to their operations (rather than the hostile takeovers practiced in other leverage buyout scenarios), and sell them off in a few years. Existing CEOs were offered large equity stakes in the process, owing to Bain Capital's belief in the emerging agency theory that CEOs should be bound to maximizing shareholder value rather than other goals. By

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