Bain Capital
Bain Capital LLC is an American private equity firm in Boston's John Hancock Tower.
History
The company was founded in 1984 by U.S. politicians and presidential candidates (2012 ) Mitt Romney co-founded. In addition to Romney two partners of the U.S. company Bain & Company were involved in the foundation: T. Coleman Andrews III. and Eric Kriss. Romney himself was for several years Vice President of Bain & Company before founding Bain Capital. The company was initially designed as a leveraged buyout funds. This fund was in the early years of individuals led by Ricardo Poma, a businessman from El Salvador, finances.
Bain Capital invested initially, among others in the company Staples, Inc. In subsequent years, Bain has invested in many different companies or acquired them, such as Bright Horizons Family Solutions, Brookstone, Domino's Pizza, Sealy, Guitar Center, The Sports Authority and the German company Jack Wolfskin.
Currently holds Bain Capital investments in large companies Toys R Us, Burger King and Unisource.
Opened in 2002, Bain Capital an office in the Maximilian street ( Munich). In June 2007, Bain Capital purchased the Bavaria Yachts on 1 August 2007 by the previous owners Elfriede Herrmann and the yacht Josef Meltl Beteiligungs GmbH.
Criticism
Bain Capital is alleged to have exploited various companies and the subsequent bankruptcy debt:
GS Technologies, a steel mill in Kansas City has been in operation since 1888. They acquired a majority interest by Bain in 1993, but ten years later the company was bankrupt. 750 people then lost to a report of the U.S. television MSNBC According to their jobs. Bain, however, have benefited from the business: Twelve million dollars have redeemed the company, but previously invested only eight million dollars. In addition, Bain stressed apparently at least $ 4.5 million to consultants fees.
1992 bought American Pad & Paper Bain Capital. 1999, two factories of the company were closed, canceled 385 jobs and the company was 392 million U.S. $ in debt. 2000, the company declared bankruptcy. The Boston Globe reported that Bain $ 100 million in Ampad earned on an investment of U.S. $ 5 million, including tens of millions in management fees.
Bain Capital and Goldman Sachs bought Dade International in 1994 for about U.S. $ 450 million Approx. 900 jobs have been cut or outsourced. Over the next few years another 1,000 workers were laid off, the credit debt of the company quadrupled. In 2002, the company declared its bankruptcy.
1997 bought Bain Capital LIVE Entertainment for $ 150 million After every fourth of the 166 employees were laid off. Bain Capital made by the company Stage Stores, American Pad & Paper, GS Industries, Dade, and details a profit of U.S. $ 578 million, all five companies went bankrupt shortly thereafter.