Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 18 pages
Data source: Field research
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Abstract
This is part of a case series. In March 2004, Bain Capital bought Brenntag, the world market leader in chemical distribution, from Deutsche Bahn for EUR 1.25 billion. Through a secondary buyout, Bain Capital then sold Brenntag to BC Partners in 2006. By mid-2009, BC Partners were considering an exit of their investment and discussed whether they should initiate a listing on the Frankfurt stock exchange. The case covers various issues of a secondary buyout and the main pedagogical objectives of the case are the following: to highlight the investment rationales of secondary buyouts, to understand the value creation profile of secondary buyouts, to discuss measures to incentivize the management team and to highlight pros and cons of an initial public offering as exit strategy.
Location:
Industry:
Size:
EUR5,300 million sales in 2005
Other setting(s):
October 2005
Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 10 pages
Data source: Field research
Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 14 pages
Data source: Field research
Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 4 pages
Data source: Field research
About
Abstract
This is part of a case series. In March 2004, Bain Capital bought Brenntag, the world market leader in chemical distribution, from Deutsche Bahn for EUR 1.25 billion. Through a secondary buyout, Bain Capital then sold Brenntag to BC Partners in 2006. By mid-2009, BC Partners were considering an exit of their investment and discussed whether they should initiate a listing on the Frankfurt stock exchange. The case covers various issues of a secondary buyout and the main pedagogical objectives of the case are the following: to highlight the investment rationales of secondary buyouts, to understand the value creation profile of secondary buyouts, to discuss measures to incentivize the management team and to highlight pros and cons of an initial public offering as exit strategy.
Settings
Location:
Industry:
Size:
EUR5,300 million sales in 2005
Other setting(s):
October 2005
Related
Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 10 pages
Data source: Field research
Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 14 pages
Data source: Field research
Subject category:
Finance, Accounting and Control
Originally published in:
2012
Version: 17 July 2012
Length: 4 pages
Data source: Field research