CVC Capital Partners, one of Europe’s largest private equity firms, has unveiled its plan to raise over €1.25 billion through an initial public offering (IPO) on the Amsterdam stock exchange.
With €186 billion in assets under management across various investment strategies, CVC aims to achieve a valuation between €13 billion and €15 billion. As part of the IPO, some existing shareholders will sell their stock, while Blue Owl, a backer of CVC, will increase its stake.
Founded in the early 1990s, CVC has established itself as one of Europe’s prominent buyout groups, capitalizing on successful investments in companies ranging from Formula One to watchmaker Breitling. Last year, the firm raised a record-breaking €26 billion for its largest-ever private equity fund.
Despite ongoing turmoil in the Middle East, CVC has decided to proceed with the IPO, indicating the growing momentum for new listings in European markets. Recent weeks have witnessed several significant IPOs, including those by dermatology business Galderma and CVC-backed retailer Douglas.
It is worth noting that the leading omnichannel premium beauty destination in Europe Douglas, the CVC’s company, has gone public on the Frankfurt Stock Exchange last month. The total offer size is approximately 890 million euros, resulting in gross proceeds of around 850 million euros for DOUGLAS AG.
DOUGLAS Group has successfully completed a comprehensive refinancing initiative. DOUGLAS Group has now taken a step by drawing 1.3 billion euros from a new financing arrangement, totaling 1.6 billion euros, to fully redeem its remaining financial indebtedness. The reduction in interest expenses expected to be up to 100 million euros on annualized base.
