DRIVEN BY
THE POWER OF
TRANSFORMATION
The resources to drive sustained growth
Our global platform and flexible capital continue to support the growth and success of our portfolio companies
REACH
Offices
Countries
nationalities
CAPITAL
Raised from 300+ investors
GPE IX
Advent tech
AUM (as of 9/30/19)
RESOURCES
Employees
Investment Professionals
THIRD-PARTY Operating
Partners/Advisors
INCREASING OUR commitment to TECH
one global
team,
two pools
of capital
Flexible
$50m – $2bn
EQUITY INVESTMENT RANGE
Focused
New office
in Palo alto
Global
50%
team growth across our global platform
healthcare
business &
financial
services
technology
INDUSTRIAL
RETAIL,
consumer &
leisure
technology
healthcare
business &
financial
services
Industrial
RETAIL,
consumer &
leisure
Applying technology insights across our portfolio
investing in world-class
companies
In 2019 our funds uncovered compelling opportunities globally across our five sectors
invested
new companies
in follow
on investments
New and follow-on investments between January 1 and December 31, 2019. Includes investments subject to closing. A full list of Advent investments is available upon request.
2019 Investments
Investing in people and companies with a long-term view of their potential to deliver growth and profitability
New Investments
Transformative M&A
New Investments
Add-On Acquisitions
New Investments
Add-On Acquisitions
New Investments
Transformative M&A
Add-On Acquisitions
New Investments
Transformative M&A
Add-On Acquisitions
New and follow-on investments between January 1 and December 31, 2019. Includes investments subject to closing. A complete list of Advent’s 2019 investment activity is available here.
Creating
Lasting Value
Partnering with management to drive sustainable growth
cumulative
revenue growth*
earnings growth*
realizations**
* As of December 31, 2019. Includes 131 portfolio companies in GPE V–IX, Advent Tech, LAPEF III–VI and ACEE IV. CAGR from date of entry metrics to 2019 estimates or exit in deal currency, calculated by taking a cost-weighted average of the companies’ individual CAGRs. Excludes deals closed after December 31, 2018.
** Includes all full and partial realizations signed or closed between January 1 and December 31, 2019. Includes investments subject to closing. Excludes debt recapitalizations and dividend distributions; escrow or residual cash proceeds received from investments sold in prior years; sale of minority investment in Euroclear – last remaining asset from Equiniti investment exited in 2016; and exits from legacy programs (ACEE IV) – AHP and TES Vsetin.
2019 realizations
Grupo Biotoscana
FULL REALIZATION
Advent sold its remaining shares of Biotoscana (BOVESPA: GBIO33), a leading Latin American specialty pharmaceutical company, to Knight Therapeutics (TSX: GUD). Since Advent’s investment in 2011, Biotoscana has built a portfolio of specialty pharmaceuticals, strengthened management, improved operations, and driven growth through M&A. These initiatives led to positive momentum in the company’s performance, and revenue and EBITDA grew at a compound annual rate of 15% and 16%, respectively.
Alianza
FULL REALIZATION
Advent sold its stake in Alianza Fiduciaria and Alianza Valores, collectively, Alianza, to an investor group led by Australis Partners. Alianza is Colombia’s largest independent asset management and trust company. Since Advent’s investment in 2014, Alianza has more than doubled its sales and EBITDA at a compound annual growth rate of 25% and 23%, respectively. Advent’s value creation plan focused on leveraging synergies, improving corporate governance, launching new mutual funds, and developing an IT transformation plan.
Addiko Bank
IPO / PARTIAL REALIZATION
Advent successfully listed Addiko, formerly Hypo Group Alpe Adria AG, on the Vienna stock exchange. Advent, together with the EBRD, transformed Addiko into a digital consumer finance and SME specialist bank with a strong presence across South Eastern Europe. Advent introduced new product offerings, drove investment in digital technology, and introduced strengthened risk monitoring. As a result, loan distributions in Addiko’s target products grew strongly while the number of default loans came in below expectations.
Nexi
IPO / PARTIAL REALIZATION
Advent, alongside our co-investors Bain Capital and Clessidra, executed Europe’s largest IPO of 2019, through the listing of Nexi, a leading provider of payment services and related technology solutions in Italy. Leveraging our experience in the payments sector, we helped transform Nexi from an undermanaged conglomerate to a focused, high-growth payments pure-play. Subsequently, Nexi acquired Intesa San Paolo’s merchant acquiring activities, and we continue to support the company as it grows.
Nets
PARTIAL REALIZATION
Nets, the leading payments processing utility for the Nordics region, sold its Corporate Services business to Mastercard in a transaction that valued the company at €2.85 billion. Advent invested in Nets in 2014 and implemented several initiatives, including taking the business public in 2016. It reinvested in a subsequent take private, led by Hellman & Friedman, and merged Nets with another Advent and Bain company, Concardis. Advent continues to support Nets cement its position as a leading European payments company.
KMD
FULL REALIZATION
Advent sold KMD, Denmark’s largest IT company and provider of software and services to the Danish public and private sector, to NEC Corporation. With Advent’s support, KMD completed 15 add-on acquisitions, strengthened its position in growing markets, such as financial services, and expanded its pan-Nordic footprint. KMD evolved from a provider principally known for offering IT services to local governments to one of Denmark’s largest software companies.
Maxam
FULL REALIZATION
Advent sold MAXAM, a global technology company specializing in the design, manufacture, and application of energy materials to Rhone Capital. Following Advent’s investment in February 2012, MAXAM strengthened and expanded its footprint in key markets, securing landmark contracts with some of the largest mines in the world. A focus on operational improvements and the implementation of procurement, pricing, and supply chain initiatives also helped to drive value creation.
Bojangles’
FULL REALIZATION
Advent completed the sale of Bojangles’ Inc. (Nasdaq: BOJA), a leading quick-service restaurant in the southeastern U.S. specializing in chicken and biscuits, to an investment group led by Durational Capital and The Jordan Company. Advent worked with the management team to drive growth through new store openings, expanding store traffic, and increasing the average check per customer. Additionally, Advent invested in the team, strategy, menu innovation and corporate infrastructure.
Coffee Bean & Tea Leaf (CBTL)
FULL REALIZATION
Advent sold Coffee Bean & Tea Leaf (CBTL), one of the world’s leading roasters and retailers of specialty coffee and tea, to a subsidiary of Jollibee Foods Corporation (JFC). Founded in 1963 and based in Los Angeles, CBTL has approximately 1,200 stores across about 30 countries worldwide. CBTL grew adjusted EBITDA internationally and increased its store count by approximately 25% during Advent’s ownership.
International Meal Company (IMC)
FULL REALIZATION
Advent sold its remaining position in International Meal Company (“IMC,” B3: MEAL3), one of the largest operators of casual dining restaurant chains in Latin America. Advent invested in IMC in 2006 and implemented a number of initiatives, including taking the company public in 2011, improving procurement, reducing costs, and implementing pricing initiatives to boost same-store sales growth and profitability.
LuluLemon
FULL REALIZATION
Advent sold its remaining position in lululemon (NASDAQ: LULU), a leading designer and retailer of healthy lifestyle-inspired athletic apparel and accessories. From Advent’s investment in 2014 to the final sale in December 2019, lululemon’s market capitalization grew by $24 billion. As Advent had previously owned the company, we were well-positioned to help guide the business back to profitable growth. During this period the number of stores grew by 77%, as Advent helped lululemon to redevelop its e-commerce strategy and led supply chain, pricing, and procurement initiatives.
Crompton Greaves Consumer Electricals Ltd. (Crompton)
PARTIAL REALIZATION
Advent sold approximately 23% of its shareholding in Crompton, a leading consumer electrical durables company in India, through a block trade. Crompton manufactures and markets a broad spectrum of consumer products, ranging from fans, water pumps, household appliances such as water heaters, air coolers and LED lighting. Crompton is India’s No. 1 player in fans and residential pumps, No. 3 player in LED lighting, and has leading positions in other categories.
Includes all full and partial realizations signed or closed between January 1 and December 31, 2019. Includes investments subject to closing. Excludes debt recapitalizations and dividend distributions; escrow or residual cash proceeds received from investments sold in prior years; sale of minority investment in Euroclear – last remaining asset from Equiniti investment exited in 2016; and exits from legacy programs (ACEE IV) – AHP and TES Vsetin.
A complete list of Advent’s 2019 investment activity is available here.