MidOcean Partners

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MidOcean Partners
Company typePrivate
IndustryPrivate Equity
FoundedFebruary 2003; 22 years ago (2003-02)
FounderTed Virtue
HeadquartersMidtown Manhattan, New York City
Area served
Global
ProductsPrivate equity funds, Leveraged buyouts
Total assetsOver $11 billion
Websitewww.midoceanpartners.com

MidOcean Partners, based in Midtown Manhattan, New York City, is an alternative asset management firm that specializes in mid-sized private equity and alternative leveraged investments.

History

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MidOcean Partners was formed in February 2003 when the managers of DB Capital Partners acquired Deutsche Bank's late stage private equity investments in the United States and Europe for €1.5 billion in one of the largest private equity secondary market transactions completed to date.[1][2] Among the investors in the transaction were NIB Capital Private Equity (now AlpInvest Partners), HarbourVest Partners, Paul Capital Partners, Coller Capital, Ontario Teachers' Pension Plan and CPP Investment Board, Northwestern Mutual, The Yucaipa Companies and Presidential Life.[2] By 2004, the portfolio was worth $3 billion, of which $1.6 billion was liquidated.[3]

MidOcean also took over management of the liquidation of a €1 billion portfolio from a fund sponsored by Deutsche Bank.[4]

In 2002, MidOcean acquired Jenny Craig, Inc.; it was sold it 2006 for $600 million, or 5 times the purchase price.[5]

In 2003, MidOcean sold Jostens, a supplier of class rings and school yearbooks, to CSFB for nearly $500 million.[6]

In January 2007, MidOcean acquired Sbarro for $450 million.[7]

In 2013, MidOcean acquired Water Pik; it was sold in 2017.[8]

In May 2016, MidOcean acquired Travelpro International and Holiday Group, a supplier of luggage, assorted bags, and travel accessories sold predominantly in the United States and Canada.[9]

In September 2018, MidOcean Partners acquired Questex for an estimated $180 million.[10][11]

In December 2018, MidOcean acquired HW Holdco and Meyers Research, part of Zonda Home.[12]

In May 2021, MidOcean sold its majority stake in The Planet Group, acquired in 2018, to ProPharma Group, making 8.5 times its investment.[13]

In November 2021, Hunter Point Capital acquired a minority stake in MidOcean.[14][15][16]

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

In November 2024, MidOcean acquired Arnott Industries, a designer, developer, manufacturer and distributor of air suspension systems and suspension components for the automotive aftermarket.[20]

In April 2025, MidOcean acquired a majority stake in GSTV, a national video platform at fuel retailers.[21]

References

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  1. ^ Wursthorn, Michael (December 3, 2013). "Credit Suisse Gets Federal Nod to Sell DLJ Merchant Banking to Coller". The Wall Street Journal.
  2. ^ a b Marco (February 21, 2003). "Deutsche Bank: asset sale". Coller Capital.
  3. ^ Zuckerman, Gregory (May 11, 2004). "Deutsche Bank's Lack of Patience Becomes Virtue's Gain". The Wall Street Journal.
  4. ^ "MidOcean to manage Morgan Grenfell assets". Infrastructure Investor. January 15, 2013.
  5. ^ "Jenny Craig Brings 5 Times Its Price in '02". The New York Times. Reuters. June 20, 2006.
  6. ^ Meikle, Brad (July 7, 2003). "Investcorp Sells Jostens To CSFB For $1.1B". Buyouts.
  7. ^ "BUYOUTS-MidOcean struggles with Sbarro restaurant chain". Reuters. March 24, 2011.
  8. ^ Kang, Jaewon (July 17, 2017). "MidOcean to Reap Five-Times Return With Sale of Water Pik". The Wall Street Journal.
  9. ^ "MidOcean Partners Announces Acquisition of Travelpro Group Luggage Industry Leader" (Press release). PR Newswire. May 23, 2016.
  10. ^ "Shamrock Capital Advisors Sells Questex". Los Angeles Business Journal. September 12, 2018.
  11. ^ "MidOcean Acquires Business Information and Events Company Questex". The Wall Street Journal. September 12, 2018.
  12. ^ "MidOcean Buys and Merges Construction-Information Companies". The Wall Street Journal. December 12, 2018.
  13. ^ "MidOcean Partners Sells Majority Stake in The Planet Group" (Press release). Business Wire. May 27, 2021.
  14. ^ Fest, Glen (November 1, 2021). "Hunter Point Capital makes minority investment in MidOcean". S&P Global.
  15. ^ Natarajan, Sridhar; Schatzker, Erik (November 1, 2021). "Bennett Goodman Strikes Deal for Stake in $10 Billion MidOcean". Bloomberg Law.
  16. ^ "Hunter Point Capital Takes a Stake in MidOcean Partners". Sovereign Wealth Fund Institute. November 1, 2021.
  17. ^ Gifford, Jeff (July 13, 2022). "NY private equity firm acquires Scottsdale corporate training provider Pragmatic Institute". American City Business Journals.
  18. ^ "MidOcean Acquires Professional Training Provider". Middle Market Growth. July 12, 2022.
  19. ^ "Pragmatic Institute Has Been Acquired by MidOcean Partners". William Blair & Company. July 28, 2022.
  20. ^ "MidOcean Partners Acquires Arnott Industries, a Leading Suspension Products Platform for the Auto Aftermarket" (Press release). Business Wire. Nov 18, 2024.
  21. ^ "Rockbridge Growth Equity Sells GSTV to MidOcean Partners" (Press release). PR Newswire. April 21, 2025.
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