Not all images were able to load for printing. Please close the print window and try again. Swiss Fund Partners Group Invests in Breitling
Public listing ahead? Seems that it's the road taken by Breitling's owners.
Long a family-owned company, Breitling saw CVC Capital Partners acquire an 80% stake in their capital in 2017 (in a deal valued at more than EUR 800 million, or USD 928 million) while the Schneider family kept the remaining 20% of the capital. Subsequently, quitting a Richemont senior leadership role, George Kern was appointed CEO of the brand. Swiss-based Fund Partners Group now enters the capital of the brand with a significant minority stake (estimated at 25%). The co-founder of Partners Group, Alfred Gantner, will join the Board of Breitling.
Quoting Vontobel analyst, Philippe Bertschy, Swiss newspaper Le Temps reports that Breitling “should achieve a turnover of nearly 700 million Swiss Francs during the fiscal year which will end on March 31st“. According to the Handelszeitung, this 25% stake is bought for 712 million Swiss Francs which would value Breitling at 2.8 billion Swiss Francs. This reflects a significant value creation over the past years and Capital Partners’ confidence in the growth potential. CVC and Partners Group advise that a public listing for Breitling is targeted. But this would not happen before a few years.
For more information, please visit partnersgroup.com.
