Partners Group Buys Into Swiss Luxury Watchmaker Breitling
Private equity firm Partners Group purchased a minority stake in the watchmaker, and will take a seat on Breitling?s board of directors.
The post Partners Group Buys Into Swiss Luxury Watchmaker Breitling appeared first on LUXUO.
Image: Breitling
Private equity firm Partners Group has bought a significant minority stake in watchmaker Breitling, according to news reports and a press release from Partners.
The press release, on the Partners Group website, notes that the stake was purchased from CVC Capital Partners Fund IV and management, which currently owns the majority stake in Breitling, as we reported on years ago. No financial terms were disclosed, but Bloomberg reported recently that Partners Group was looking to buy a 25 per cent stake; private equity typically requires a seat on the board when it makes such investments.
No changes in direction were announced, nor changes in senior personnel, but Partners Group will indeed be taking a seat on the Breitling board of directors. Alfred Gantner, Co-Founder, and Executive Member of the Board of Directors, Partners Group, will be taking this seat. Current Breitling CEO Georges Kern ? himself a stakeholder ? sounded a positive note that Partners Group getting into watchmaking action.
READ MORE: Seiko President Akio Naito on Making the Sports Watch Work for Grand Seiko
“We are delighted to welcome Partners Group as an investor, and Alfred Gantner as a Board member. With CVC and Partners Group we...
The post Partners Group Buys Into Swiss Luxury Watchmaker Breitling appeared first on LUXUO.
Image: Breitling
Private equity firm Partners Group has bought a significant minority stake in watchmaker Breitling, according to news reports and a press release from Partners.
The press release, on the Partners Group website, notes that the stake was purchased from CVC Capital Partners Fund IV and management, which currently owns the majority stake in Breitling, as we reported on years ago. No financial terms were disclosed, but Bloomberg reported recently that Partners Group was looking to buy a 25 per cent stake; private equity typically requires a seat on the board when it makes such investments.
No changes in direction were announced, nor changes in senior personnel, but Partners Group will indeed be taking a seat on the Breitling board of directors. Alfred Gantner, Co-Founder, and Executive Member of the Board of Directors, Partners Group, will be taking this seat. Current Breitling CEO Georges Kern ? himself a stakeholder ? sounded a positive note that Partners Group getting into watchmaking action.
READ MORE: Seiko President Akio Naito on Making the Sports Watch Work for Grand Seiko
“We are delighted to welcome Partners Group as an investor, and Alfred Gantner as a Board member. With CVC and Partners Group we...
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