 | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 2001; 24 years ago (2001) |
| Founder | Dick Cashin & Israel Lucas Gois |
| Headquarters | New York City,New York,United States Chicago,Illinois, United States |
| Products | Leveraged buyout,growth capital |
| Total assets | $10 billion |
Number of employees | 40+ |
| Parent |
|
| Website | www |
One Equity Partners is aprivate equity firm with over $10 billion inassets under management which primarily deals with the industrial,healthcare and technology sectors in North America and Europe. One Equity Partners was themerchant banking arm ofJPMorgan Chase,[1] focused onleveraged buyout andgrowth capital investments inmiddle-market companies. Formed byBank One in 2001, the group has offices inNew York City,Chicago,São Paulo,Vienna,Hong Kong andFrankfurt.
In 2006, One Equity, together withThe Blackstone Group andTechnology Crossover Ventures, acquiredTravelport fromCendant in a $4.3 billion buyout. The company ownsWorldspan andGalileo as well as approximately 48% ofOrbitz Worldwide. The sale of Travelport followed the spin-offs of Cendant's real estate and hospitality businesses,Realogy Corporation andWyndham Worldwide Corporation, respectively, in July 2006.[2][3] Later in the year, TPG and Silver Lake would acquireTravelport's chief competitorSabre Holdings.
Among One Equity's other notable investments includePolaroid Corporation, which was sold in 2005 at a significant gain,[4][5][6] as well as:Apollo Hospitals,CWT,Clipper Windpower,NCO Group,[7]Pfleiderer, Systagenix Wound Management,SGB-SMIT Group,ThyssenKrupp Marine Systems,Vertrue,X-Rite, Orion Inc., Italian system integrator Engineering Ingegneria Informatica,Sonneborn LLC (sold in 2019), Lutech, andVASS.[8] In March 2021, One Equity agreed to sell Lutech toApax Partners.[9]
| History of private equity and venture capital |
|---|
.jpg) |
| Early history |
| (origins of modernprivate equity) |
| The 1980s |
| (leveraged buyout boom) |
| The 1990s |
| (leveraged buyout and the venture capital bubble) |
| The 2000s |
| (dot-com bubble to thecredit crunch) |
| The 2010s |
| (expansion) |
| The 2020s |
| (COVID-19 recession) |
One Equity Partners was founded in 2001 by Dick Cashin to serve as the private equity investment arm ofBank One. Cashin had previously served as president ofCiticorp Venture Capital, the predecessor ofCourt Square Capital Partners andCVC Capital Partners, where he worked for Bank One's then CEO,Jamie Dimon.
In 2002, formerFord Motor Company CEOJacques Nasser joined One Equity. He would serve as chairman ofPolaroid Corporation. Nasser was involved in 2006, when One Equity was speculated as one of several potential private equity bidders forJaguar Cars.[10]
In 2004,JPMorgan Chase completed its acquisition ofBank One. Prior to the merger, JPMorgan had its own in-house private equity investment group,JPMorgan Partners. JPMorgan Partners was significantly larger than One Equity and focused on larger transactions. One Equity was ultimately designated as the exclusive private equity platform for JPMorgan Chase, at which point JPMorgan Partners formalized plans to spin out of JPMorgan Chase and was renamedCCMP Capital.[11] In 2008, when JPMorgan Chase acquiredBear Stearns' private equity platform,Bear Stearns Merchant Banking, One Equity was once again designated the exclusive private equity arm for the combined firm.[12]
In 2014, it was announced that J.P Morgan was to sell off half of its stake in One Equity Partners.[13][14]
In 2018, One Equity Partners acquires majority share inEricsson Media Solutions,[15] which is the media business of Ericsson composed of many previous acquisitions, yet a small part of Ericsson.[16] According toEricsson, deal closing was expected in Q3 2018.[17]
In 2006 One Equity Partners purchased Pennsylvania-basedNCO Group, "which posted $1.56 billion in revenue last year, making it the largest debt-collection company." According to a J.P. Morgan spokesman, by 2010 the company was "winding down the debt-buying side and will focus on debt collection".[1]
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