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CVC Lining Up Major Exits From Fund VI

In 2013, CVC Capital Partners raised €10.9 billion (about $12.7 billion at today’s conversion rate) for its sixth flagship vehicle. Now, five years later, the firm is in the process of arranging a pair of significant sales from the mega-fund.

PDC Brands, a provider of beauty and personal care products that CVC bought for $1.43 billion last year, is working with advisors on a public offering in the US for some time next year, according to Bloomberg.

The company behind the Dr. Teal’s, Cantu and Bod brands had been owned by Yellow Wood Partners until CVC used cash from its sixth fund to conduct a takeover. CVC reportedly took out a loan against PDC in December in order to pay itself a dividend.

Separately, CVC and company founder Joop van den Ende have agreed to sell Stage Entertainment, an owner and operator of theaters in the US and Europe, to Advance Publications, a longtime media investor.

CVC used cash from its sixth flagship fund to acquire a 60% stake in the business in 2015, a deal reportedly valued around €400 million. The firm had reportedly considered an IPO for Stage Entertainment earlier this year before striking a sale pact.

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