Charterhouse Capital Partners
Charterhouse Capital Partners is a London-headquartered private equity firm that concentrates on European mid-market enterprises with valuations ranging from €200 million to €1.5 billion. Its investment focus spans sectors such as services, healthcare, specialised industrials, and consumer goods.
History
Established in 1934, Charterhouse ranks among the longest-standing private equity firms in Europe. Initially operating as a unit within Charterhouse Bank, it commenced raising capital from external investors in 1976. The firm gained full independence in June 2001 when the management team executed a management buyout from HSBC.
Notable investment activity
Charterhouse has demonstrated a consistent pattern of strategic acquisitions and successful divestments:
- In 2009, it acquired Wood Mackenzie and later sold it to Hellman & Friedman in 2012. - The 2010 purchase of Deb Group (skincare) culminated in a sale to SC Johnson in 2015, generating returns exceeding 2.5 times the initial investment. - Also in 2010, Charterhouse acquired Card Factory and exited in 2015. - The acquisition of ERM occurred in 2011, with the company sold to Omers for $1.7 billion by 2015. - In the same year, it took ownership of Webhelp, exiting to KKR in 2015 with a threefold return. - Charterhouse acquired Doc Generici, an Italian pharmaceutical firm, in 2013 and divested it to CVC Capital Partners in 2016. - The firm purchased Armacell for €520 million in 2013 and sold it to a consortium led by Blackstone for €960 million two years later. - In 2015, Mirion Technologies was acquired for $750 million; this company went public via a SPAC merger valued at $2.6 billion in 2021. - A majority stake in Cooper (OTC pharmaceuticals) was acquired in 2016, with the bulk sold to CVC in 2021. - In 2017, Charterhouse secured a controlling interest in SERB, a specialty pharmaceutical company based in Brussels. - The acquisition of a majority shareholding in Siaci Saint Honore (a B2B insurance broker) took place in 2018, followed by an exit in 2021. - Also in 2018, it purchased UK environmental consultancy SLR Consulting from 3i, later selling it to an Ares Management fund in 2022. - Between 2014 and 2019, Charterhouse owned Italian cheese producer Nuova Castelli before selling it to Lactalis Group Italia. - In 2020, the firm supported SERB’s $800 million acquisition of Boston Scientific's BTG specialty pharma division; additionally, it acquired a minority stake in UK pension provider Lane Clark & Peacock and co-invested with Crédit Mutuel Arkéa in Dutch software company Vermeg. - Most recently, in 2023, Charterhouse sold the Irish Tarsus Group to Informa for GBP 790 million; transferred French telecom operator Sagemcom into an AlpInvest-backed continuation fund; and invested in France Valley Investissements, a €4 billion manager of forestry and real assets, facilitating ESG-linked product launches.
Charterhouse’s investment strategy centers on focused acquisitions within pivotal European industries, utilizing buyouts and timely exits to foster growth and optimize financial returns.