Bain Capital Offices

Bain Capital Offices

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Boston

Boston

John Hancock Tower
200 Clarendon Street, Boston, MA 02116 United States

P:+1 (617) 516-2000 F:+1 (617) 516-2010

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New York

A New York

590 Madison Avenue
42nd Floor, New York, NY 10022 United States

P:+1 (212) 326-9420 F:+1 (212) 421-2225

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B New York Bain Capital Ventures
Bain Capital Ventures

632 Broadway, New York, NY 10012 United States

P:+1 (212) 822-2900 F:+1 (646) 439-9100

London

London

Devonshire House
Mayfair Place, London, W1J 8AJ United Kingdom

P:+44 20 7514 5252 F:+44 20 7514 5250

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Munich

Munich
Bain Capital Beteiligungsberatung GmbH

Maximilianstrasse 11, 80539 Muenchen, Germany

P:+49-89244410700 F:+49-89244410731

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Mumbai

Mumbai
Bain Capital Advisors (India) Private Limited

2nd Floor, Free Press House
Nariman Point, , Mumbai 400 021 India

P:+91-2267528000 F:+91-2267528010

Hong Kong

Hong Kong
Bain Capital Asia, LLC

51/F Cheung Kong Center
2 Queen's Road Central, Hong Kong, Hong Kong S.A.R., China

P:+852-36566800 F:+852-36566801

Shanghai

Shanghai
Bain Capital Advisors (China) Ltd.

46/F Two IFC
8 Century Boulevard, Shanghai, 200120 China

P:+86-2161632000 F:+86-2161632088

Tokyo

Tokyo
Bain Capital Asia, LLC

5F, Palace Building
1-1-1 Marunouchi, Chiyoda-ku, Tokyo 100-0005 Japan

P:+81-362127070 F:+81-362127071

Palo Alto

Palo Alto

335 Bryant Street, Palo Alto, CA 94301 United States

P:+1 (650) 798-2500 F:+1 (650) 798-2501

Chicago

Chicago
Sankaty Advisors Illinois, LLC

1603 Orrington Avenue
Suite 815, Evanston, IL 60201 United States

P:+1 (847) 563-5330 F:+1 (847) 563-5331

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Luxembourg

A Luxembourg
Bain Capital Luxembourg S.à.r.l.

4 rue Lou Hemmer, L-1748 Luxembourg, Luxembourg

P:+352-2678601 F:+352-26786060

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B Sankaty European Investments, S.á.r.l.
Sankaty European Holdings, S.á.r.l.

4 rue Lou Hemmer, L-1748 Luxembourg, Luxembourg

P:+352-267866 F:+352-26786651

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Melbourne

Melbourne
Sankaty Advisors (Australia), Pty. Ltd.

Level 20, 101 Collins Street, Melbourne, VIC 3000 Australia

P:+61 3 8102 8600 F:+61 3 9014 6930

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  • Bain Capital Private Equity
    • Bain Capital Private Equity

      Bain Capital Private Equity pioneered the value added investment approach. We partner with management teams to provide strategic resources that build and grow great companies. We have made over 260 investments generating industry leading returns for many leading endowments, foundations, pension funds and individuals.

      »Visit the Bain Private Equity Site
  • Brookside Capital
    • Brookside Capital

      Brookside Capital is the global long/short public equity affiliate of Bain Capital. We employ a fundamental investment approach with a team of industry-focused professionals to identify opportunities that offer capital appreciation over a multi-year time horizon.

      »Visit the Brookside Capital Site
  • Sankaty Advisors
    • Sankaty Advisors

      Sankaty Advisors, the credit affiliate of Bain Capital, LLC, is one of the nation's leading managers of high-yield corporate credit obligations. With approximately $22.3 billion in committed capital, we invest in a wide variety of instruments, including leveraged loans, high-yield bonds, stressed debt, distressed debt, mezzanine debt, structured products and equity investments.

      »Visit the Sankaty Advisors Site
  • Bain Capital Ventures
    • Bain Capital Ventures

      Bain Capital Ventures is the venture capital affiliate of Bain Capital. We focus on seed through late-stage growth investments in business services, software, digital media / mobile / ecommerce, and healthcare IT and services companies. Bain Capital Ventures has made over 100 investments since our launch in 2000.

      »Visit the Bain Capital Ventures Site
  • Absolute Return Capital
    • Absolute Return Capital

      Absolute Return Capital (ARC) is the absolute return affiliate of Bain Capital. The team manages assets in fixed income, equity, commodity and currency markets to produce attractive risk-adjusted returns while maintaining low correlation to traditional investments.

      »Visit the Absolute Return Capital Site

Newsroom Bain serves up $123m Japan exit

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News
Date: 
August 11, 2013
Author: 
Clare Burrows

The private equity giant has sold a 75% holding in Domino’s Pizza Japan to Domino’s Australia after significant operational improvements on the business.

Global private equity firm Bain Capital has sold a 75 percent stake in Domino’s Pizza Japan for JPY 12 billion (€92 million; $123 million), according to a company statement.  The buyer, Australia-based Domino’s Pizza Enterprises is also providing JPY 9 billion in new debt funding, valuing the business at JPY 25 billion. “[Japan's] macro-economic picture is improving, consumer sentiment is getting better and there are a lot of high hopes around the Abe government and what it is able to accomplish," David Gross-Loh, managing director at Bain, told Private Equity International. "I think that is relative to a pretty slow past five years. It's an improving environment [for exits]."

Bain will retain a 25 percent stake in the business, with some minority voting rights with regard to operating control. The firm has an agreement with Domino’s outlining clear defined exit rights that also provide the buyer with the ability to obtain full ownership of the Japan branch at a future date. Bain cannot exit its remaining stake for the next three years.  Having invested in Domino’s in the US and Japan, as well as acquiring Japan's Skylark restaurants for $2.1 billion in October 2011, Bain is familiar with investing in the country’s food and beverage sector. It acquired Domino’s Japan in 2010 for an undisclosed amount. Media reports estimated the enterprise value at JPY 5 billion. 

 

The macro-economic picture is improving, consumer sentiment is getting better and there are a lot of high hopes around the Abe government and what it is able to accomplish. I think that is relative to a pretty slow past five years. It is an improving environment [for private equity]

David Gross-Loh, managing director, Bain Capital Japan

Since then, the firm implemented a number of operational changes including reducing purchasing costs, lowering pizza prices, adding take-away services and expanding its geographical footprint, according to Gross-Loh.  In 2010, the business had 175 stores in Tokyo and Osaka, which has grown to 259 stores in Japan today.  Bain was approached by Domino’s Australia about the sale. “We’ve known Domino’s Australia in the past, they expressed interest and put forward an attractive proposal so we pushed ahead with it,” Gross-Loh said. Several firms have exited Japan investments this year. In March, Kohlberg Kravis Roberts exited Japanese recruitment services provider Intelligence in a $720 million sale. Earlier this year, Advantage Partners sold coffee shop franchise Komeda Coffee to MBK Partners at an 7x multiple and in a particularly outsized deal sold condominium management group Community One to a corporate buyer, reaping a multiple of 22x, PEI reported earlier.

 

Original Article: 

http://www.privateequityinternational.com/Article.aspx?aID=0&article=73894