Apax Partners

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Apax Partners is a private equity and venture capital firm which operates in the United Kingdom, United States, Europe, and Israel. The firm has raised approximately $20 billion (USD) and existed for over 30 years (being founded in 1972). Apax invests in a series of business sectors including: telecommunications, IT, retail and consumer goods, media, healthcare and financial/business services. At the moment Apax has a portfolio of around 340 companies in all stages of development.

Apax raises money through investors such as pension funds and university and college endowments. One of the firm's co-founders, Alan Patricof, was an initial investor in Apple Computer and America Online when both companies were just starting out.

[edit] Acquisitions

In 1998 Apax invested in Neurodynamics which was the parent of Autonomy Corporation. Apax's investment in Autonomy created one of the largest returns in European Venture Capital history with the conversion of around a $3M investment into $900M.^{[citation needed]}

In Q2 2005 Apax Partners purchased a majority stake in Travelex (the worlds largest foreign exchange company) for £1.06bn. In Q3 2005 Apax also announced plans to purchase Grupo Panrico, one of Spain's largest food companies and its largest bakery company.^{[citation needed]}

As part of the Velvet Acquisitions consortium (along with Barclays Capital and Robert Tchenguiz) Apax is involved in the purchase of Somerfield, the UK's fifth largest supermarket chain (with 1,300 stores).^{[citation needed]}

At the end of 2005, it was announced that Apax Partners had purchased the Tommy Hilfiger Corporation for $1.6 billion, or $16.80 a share, all in cash. In May 2006, this deal was approved by the shareholders of Tommy Hilfiger.^{[citation needed]}

Apax Partners has invested in several other public and privately held realtors and clothing designers, such as Phillips-Van Heusen, Tommy Bahama, Spyder Active Sports, Dollar Tree Stores and the Children's Place.^{[citation needed]}

On 2006-08-21, it was announced that Apax Partners and Bain Capital had joined the enlarged private equity consortium headed by KKR that has agreed to acquire an 80.1% stake in the Semiconductor Division of Royal Philips Electronics. The new company is called NXP.^{[citation needed]}