One Equity Partners
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 2001 |
| Founder | Dick Cashin, Israel Lucas Gois |
| Headquarters | New York City , United States |
Area served | North America, Europe |
| Products | Leveraged buyout, growth capital investments |
| Parent | JPMorgan Chase (initially) |
One Equity Partners is a private equity firm overseeing assets exceeding $10 billion, with a primary focus on the industrial, healthcare, and technology industries throughout North America and Europe. Initially established as the merchant banking division of JPMorgan Chase, the firm concentrates on leveraged buyout and growth capital investments aimed at middle-market companies. Founded in 2001 by Dick Cashin and Israel Lucas Gois under the umbrella of Bank One, it maintains offices in New York City, Chicago, São Paulo, Vienna, Hong Kong, and Frankfurt.
Investments
In 2006, One Equity collaborated with The Blackstone Group and Technology Crossover Ventures to purchase Travelport from Cendant through a $4.3 billion leveraged buyout. Travelport holds ownership of Worldspan, Galileo, and approximately 48% of Orbitz Worldwide. This acquisition took place after Cendant divested its real estate and hospitality units, namely Realogy Corporation and Wyndham Worldwide Corporation. Later that same year, rivals TPG and Silver Lake acquired Travelport’s competitor, Sabre Holdings.
Other notable investments by One Equity include the lucrative sale of Polaroid Corporation in 2005, alongside stakes in companies such as Apollo Hospitals, CWT, Clipper Windpower, NCO Group, Pfleiderer, Systagenix Wound Management, SGB-SMIT Group, ThyssenKrupp Marine Systems, Vertrue, X-Rite, Orion Inc., the Italian system integrator Engineering Ingegneria Informatica, Sonneborn LLC (divested in 2019), Lutech, and digital consultancy firm VASS. In March 2021, One Equity divested Lutech to Apax Partners.
History
One Equity Partners was launched in 2001 by Dick Cashin as the private equity division of Bank One. Prior to this, Cashin led Citicorp Venture Capital and worked closely with Bank One’s CEO, Jamie Dimon.
In 2002, former CEO of Ford Motor Company, Jacques Nasser, joined One Equity and took on the role of chairman at Polaroid Corporation. He was also involved in 2006 when One Equity was considered as a potential acquirer for Jaguar Cars.
Following JPMorgan Chase’s acquisition of Bank One in 2004, One Equity was appointed as its exclusive private equity platform. Meanwhile, JPMorgan’s own private equity group, JPMorgan Partners, which focused on larger transactions, separated to become what is now known as CCMP Capital. After JPMorgan Chase acquired the private equity division of Bear Stearns in 2008, One Equity remained the sole private equity entity within JPMorgan Chase.
In 2014, JPMorgan revealed intentions to divest approximately half of its ownership interest in One Equity Partners.
In 2018, One Equity secured a majority ownership stake in Ericsson Media Solutions—Ericsson’s media division formed from several prior acquisitions but representing a smaller portion of the company. The transaction was anticipated to finalize during the third quarter of 2018.
Debt buyer
In 2006, One Equity Partners purchased Pennsylvania-based NCO Group, which reported $1.56 billion in revenue at the time, positioning it as the largest debt-collection firm. By 2010, NCO Group shifted its strategic focus away from debt purchasing toward exclusively managing debt collection operations.
See also
References
- JP Morgan considers spinning off One Equity Partners. September 13, 2004
- JPMorgan's buyout division set to become an autonomous entity. March 2, 2005
- JPMorgan Chase announces restructuring of its private equity operations. March 1, 2005
External links
- One Equity Partners (official website)