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CCMP Capital

From Alfawiki
CCMP Capital Advisors, LP
Company typePrivate
IndustryPrivate equity
PredecessorJP Morgan Partners
Founded1984
FateSpinout from JPMorgan Chase in 2006
Headquarters
New York City
,
United States
Area served
Worldwide (offices in New York City, London, Hong Kong, Tokyo)
Key people
Greg Brenneman (executive chairman, since 2008)
ProductsLeveraged buyout and growth capital investments
Number of employees
37

CCMP Capital Advisors, LP is a United States-based private equity firm focusing on leveraged buyout and growth capital investments. Originally known as JP Morgan Partners, the team separated from JPMorgan Chase on July 31, 2006. Since its establishment, CCMP has deployed approximately $12 billion in leveraged buyouts and growth capital transactions. In 2007, it was ranked 17th among the largest private equity funds worldwide.

The firm employs 37 professionals and maintains offices in New York City, London, Hong Kong, and Tokyo. In 2008, Greg Brenneman joined CCMP as executive chairman.

History

The firm was founded in 1984 under the name Chemical Venture Partners to serve as the private equity division of Chemical Bank. It underwent multiple rebrandings due to significant banking mergers. After Chemical Bank's acquisition of Chase Manhattan Bank in 1996, the entity was renamed Chase Capital Partners. Following J.P. Morgan & Co.'s acquisition in 2000 and the subsequent formation of JPMorgan Chase, it adopted the name JP Morgan Partners. The platform broadened its scope by incorporating private equity groups from institutions such as Manufacturers Hanover, Hambrecht & Quist, Robert Fleming & Co., and The Beacon Group.

In 2004, JPMorgan Chase acquired Bank One, bringing its private equity group, One Equity Partners, led by Dick Cashin, to become the firm's primary private equity platform. This development prompted JP Morgan Partners to plan a spinout.

The spinout was announced in March 2005 and finalized by July 31, 2006, resulting in the formation of CCMP Capital Advisors—its name reflecting its lineage from Chemical, Chase, and JP Morgan Partners. Prior to this, in April 2006, JPMorgan Chase sold a $925 million stake in JP Morgan Partners Global Fund to secondary market investors.

This separation occurred alongside similar divestitures by other major banks’ private equity divisions such as Metalmark Capital (Morgan Stanley), Court Square Capital Partners (Citigroup), and MidOcean Partners (Deutsche Bank).

In 2007, CCMP completed fundraising for its second fund, CCMP Capital Investors II, securing $3.4 billion from institutional backers—just shy of its $3.5 billion target.

Significant deals include the 2014 divestiture of pharmaceutical contract research organization Medpace to Cinven for nearly $900 million and the 2016 purchase of Badger Sportswear, a Statesville, North Carolina-based producer of team uniforms and athletic apparel.

Panorama Capital

Prior to its separation from JPMorgan Chase in 2006, JP Morgan Partners engaged in investments spanning leveraged buyout, growth capital, and venture capital. After the spinout, the team concentrated on venture capital activities by establishing Panorama Capital as an independent entity separate from CCMP Capital.

Headquartered in Menlo Park, California, Panorama focuses on early-stage and expansion-stage investments within the fields of information technology and life sciences. It launched its inaugural standalone fund in October 2005 with a target of $500 million but ultimately closed with approximately $240 million committed.

Unitas Capital

In December 2008, CCMP Capital Asia officially separated from CCMP Capital and rebranded as Unitas Capital. Operating independently, Unitas managed distinct private equity investment funds while also co-investing alongside global investment vehicles.

Linzor Capital

Established in 2006 by Tim Purcell, Alfredo Irigoin, and Carlos Ingham, Linzor Capital Partners is a prominent private equity firm specializing in Latin American markets. Prior to founding Linzor, Purcell and Irigoin launched J.P. Morgan Partners Latin America in 2000, which became a leading investor in the region.

In September 2013, CCMP completed the acquisition of PureGym, and subsequently expanded its fitness portfolio by purchasing competitor LA Fitness in 2015. By November 2017, CCMP divested PureGym to Leonard Green & Partners.

In December 2018, CCMP refrained from commenting when Badger, one of its portfolio companies, experienced product withdrawals from several U.S. colleges due to alleged associations with Chinese detention facilities. At that time, CCMP's holdings included four sportswear brands under the Founder Sport Group umbrella. Investigations by the Associated Press linked shipments to internment camps in Xinjiang housing Muslim detainees.

Investments

CCMP oversees both the JP Morgan Partners Global Fund and CCMP Capital Investors II. Its portfolio features numerous notable companies such as:

See also

External links

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