99-650: Bio Products Laboratory Limited ( BPL ) is a company involved in the manufacture of human blood plasma products, located in Elstree , Hertfordshire , England. It is run as a commercial business and supplies plasma derived products to the National Health Service in the UK as well as to markets in over 45 countries. BPL was a state owned organization and it was part of the U.K. National Health Service for most of its existence. On 1 September 2022, Permira and
198-443: A centrifuge until the blood cells fall to the bottom of the tube. The blood plasma is then poured or drawn off. For point-of-care testing applications, plasma can be extracted from whole blood via filtration or via agglutination to allow for rapid testing of specific biomarkers. Blood plasma has a density of approximately 1,025 kg/m (1.025 g/ml). Blood serum is blood plasma without clotting factors. Plasmapheresis
297-407: A $ 5.5 billion offer for both the toy and baby supplies businesses. The Toys 'R' Us buyout was one of the largest in several years. Following this transaction, by the end of 2004 and in 2005, major buyouts were once again becoming common and market observers were stunned by the leverage levels and financing terms obtained by financial sponsors in their buyouts. The following year, in 2005, Bain
396-518: A 16-fold gain. Bain invested the $ 37 million of capital in its first fund in twenty companies and by 1989 was generating an annualized return in excess of 50 percent. By the end of the decade, Bain's second fund, raised in 1987 had deployed $ 106 million into 13 investments. As the firm began organizing around funds, each such fund was run by a specific general partnership—that included all Bain Capital executives as well as others—which in turn
495-605: A 20% stake in Tower Ltd from Australian financial conglomerate Suncorp . In January 2019, Bain Capital purchased a majority stake in technology consultancy Brillio . In October 2018, Bain Capital Private Equity and Bain Capital Life Sciences committed $ 350 million to a new biopharmaceutical company Cerevel Therapeutics . However, only $ 250 million of the committed amount was drawn. A deal
594-505: A 30% stake in Genpact Ltd., India's largest business process and call center outsourcing firm, for $ 1 billion. Later that year, the company acquired hand and power tool company Apex Tool Group for roughly $ 1.6 billion. In May 2013, Bain Capital partnered with investment firms Golden Gate Capital , GIC Private Limited , and Insight Venture Partners to purchase BMC Software for roughly $ 6.9 billion. In December 2013,
693-628: A 50% interest in Bombardier Inc. 's recreational products division, along with the Bombardier family and the Caisse de dépôt et placement du Québec , and created Bombardier Recreational Products or BRP. In 2004 a consortium comprising KKR, Bain Capital, and real estate development company Vornado Realty Trust announced the $ 6.6 billion acquisition of Toys "R" Us , the toy retailer. A month earlier, Cerberus Capital Management , made
792-635: A completely separate company. Initially, the two firms shared the same offices—in an office tower at Copley Place in Boston —and a similar approach to improving business operations. However, the two firms had put in place certain protections to avoid sharing information between the two companies and the Bain & Company executives had the ability to veto investments that posed potential conflicts of interest. Bain Capital also provided an investment opportunity for partners of Bain & Company. The firm initially gave
891-573: A cut of its profits to Bain & Company, but Romney later persuaded Bill Bain to give that up. The Bain Capital team was initially reluctant to invest its capital. By 1985, things were going poorly enough that Romney considered closing the operation, returning investors' money to them, and having the partners go back to their old positions. The partners saw weak spots in so many potential deals that by 1986, very few had been done. At first, Bain Capital focused on venture capital opportunities. One of Bain's earliest and most notable venture investments
990-753: A deal to invest up to $ 432 million in Chinese electronics manufacturer GOME Electrical Appliances for a stake of up to 23%. In 2010, the company acquired Styron, a division of The Dow Chemical Company , for $ 1.6 billion, and also acquired Gymboree for $ 1.8 billion. In 2011, the company, together with Hellman & Friedman, acquired Securitas Direct AB . Hellman & Friedman purchased Bain Capital's remaining stake in Securitas Direct in October 2015. In 2012, Bain Capital acquired Physio-Control for $ 478 million, and also acquired
1089-419: A major brand overhaul including the use of The Burger King character in advertising. In February 2006, Burger King announced plans for an initial public offering . In late 2002, Bain remained active acquiring Houghton Mifflin for $ 1.28 billion, together with Thomas H. Lee Partners and Blackstone Group . Houghton Mifflin and Burger King represented two of the first large club deals , completed since
SECTION 10
#17327728491841188-536: A nearly sevenfold return on its investment, and Romney sat on the Staples board of directors for over a decade. Another very successful investment occurred in 1986 when $ 1 million was invested in medical equipment maker Calumet Coach, which eventually returned $ 34 million. A few years later, Bain Capital made an investment in the technology research outfit the Gartner Group , which ended up returning
1287-454: A producer of umbrellas and overshoes. Three years later, Totes, under Bain's ownership, acquired Isotoner, a producer of leather gloves. Bain, together with Thomas H. Lee Partners , acquired Experian , the consumer credit reporting business of TRW Inc. , in 1996 for more than $ 1 billion. Formerly known as TRW's Information Systems and Services unit, Experian is one of the leading providers of credit reports on consumers and businesses in
1386-406: A result, approximately 12% of blood plasma volume will cross into the extravascular compartment . This plasma shift causes an increase in hematocrit , serum total protein , blood viscosity and, as a result of increased concentration of coagulation factors , it causes orthostatic hypercoagulability . Serum albumins are the most common plasma proteins, and they are responsible for maintaining
1485-517: A risk of patient blood loss such as surgical suite facilities. Blood plasma volume may be expanded by or drained to extravascular fluid when there are changes in Starling forces across capillary walls. For example, when blood pressure drops in circulatory shock , Starling forces drive fluid into the interstitium , causing third spacing . Standing still for a prolonged period will cause an increase in transcapillary hydrostatic pressure . As
1584-466: A scheduling platform created by Drive Capital . In August 2023, Bain Capital took private Chindata Group Holdings, a data center company based in Beijing, in a deal valued at approximately $ 3.2 billion. In December 2023, Infroneer Holdings, a Japanese civil engineering group, had disclosed its intent to acquire Japan Wind Development from Bain Capital for an estimated $ 1.4 billion. In April 2024,
1683-472: A scientist from Vilanova i la Geltrú, Spain, founded Laboratorios Grifols in 1940. Dr. Grifols pioneered a first-of-its-kind technique called plasmapheresis , where a donor's red blood cells would be returned to the donor's body almost immediately after the separation of the blood plasma. This technique is still in practice today, almost 80 years later. In 1945, Dr. Grifols opened the world's first plasma donation center. The "Blood for Britain" program during
1782-651: A substitute for whole blood and for transfusion purposes was proposed in March 1918, in the correspondence columns of the British Medical Journal, by Gordon R. Ward. "Dried plasmas" in powder or strips of material format were developed and first used in World War II . Prior to the United States' involvement in the war, liquid plasma and whole blood were used. Dr. José Antonio Grifols Lucas,
1881-533: A value of over £530 million, an amount set to provide a windfall payout to LV='s customers. In November 2021, the company invested $ 200 million into Mixpanel . Bain Capital invested in health insurance brokerage firm Enhance Health. On November 5, 2021, it was reported that Bain Capital planned to list Brillio on the NASDAQ , with an IPO of valuation $ 3 billion or more, including debt. Bain Capital also invested $ 200 million into When I Work,
1980-552: Is a medical therapy that involves blood plasma extraction, treatment, and reintegration. Fresh frozen plasma is on the WHO Model List of Essential Medicines , the most important medications needed in a basic health system . It is of critical importance in the treatment of many types of trauma which result in blood loss, and is therefore kept stocked universally in all medical facilities capable of treating trauma (e.g., trauma centers , hospitals, and ambulances) or that pose
2079-481: Is an American private investment firm based in Boston , Massachusetts , with around $ 185 billion of assets under management. It specializes in private equity , venture capital , credit, public equity, impact investing , life sciences, crypto , tech opportunities, partnership opportunities, special situations, and real estate . Bain Capital invests across a range of industry sectors and geographic regions. The firm
SECTION 20
#17327728491842178-468: Is often considered the "universal donor" for plasma. Special programs exist just to cater to the male AB plasma donor, because of concerns about transfusion related acute lung injury (TRALI) and female donors who may have higher leukocyte antibodies. However, some studies show an increased risk of TRALI despite increased leukocyte antibodies in women who have been pregnant. Following fears of variant Creutzfeldt-Jakob disease ( vCJD ) being spread through
2277-588: Is released from broken blood cells. Plasma is normally relatively transparent, but sometimes it can be opaque. Opaqueness is typically due to elevated content of lipids like cholesterol and triglycerides . Plasma and serum are both derived from full blood, but serum is obtained by removing blood cells, fibrin clots, and other coagulation factors while plasma is obtained by only removing blood cells . Blood plasma and blood serum are often used in blood tests . Tests can be done on plasma, serum or both. In addition, some tests have to be done with whole blood , such as
2376-468: Is the most desirable and is considered a "universal donor," since it has neither A nor B antigens and can be safely transfused to most recipients. Type AB+ is the "universal recipient" type for PRBC donations. However, for plasma the situation is somewhat reversed. Blood donation centers will sometimes collect only plasma from AB donors through apheresis , as their plasma does not contain the antibodies that may cross react with recipient antigens. As such, AB
2475-733: The Armco Worldwide Grinding System steel plant in Kansas City, Missouri and merged it with its steel plant in Georgetown, South Carolina to form GST Steel . The Kansas City plant had a strike in 1997 and Bain closed the plant in 2001, laying off 750 workers when it went into bankruptcy. The South Carolina plant closed in 2003 but subsequently reopened under a different owner. At the time of its bankruptcy it reported $ 553.9 million in debts against $ 395.2 in assets. Bain reported $ 58.4 million in profits,
2574-554: The National Research Council , in charge of blood collection for the United States Army and Navy . Drew argued against the armed forces directive that blood/plasma was to be separated by the race of the donor . Drew insisted that there was no racial difference in human blood and that the policy would lead to needless deaths as soldiers and sailors were required to wait for "same race" blood. By
2673-601: The U.S. Securities and Exchange Commission as "sole shareholder, sole director, Chief Executive Officer and President". The SEC filings reflected the legal reality and the ownership interest in the Bain Capital management company. In practice, former Bain partners have stated that Romney's attention was mostly occupied by his Olympics position. He did stay in regular contact with his partners, and traveled to meet with them several times, signing corporate and legal documents and paying attention to his own interests within
2772-498: The 1940s, Brinkhous and McFarlane discovered that transfusions using whole blood or plasma provided a means of FVIII replacement. Applications using this early discover were limited due to naturally low concentrations of this anti-haemophilic factor in blood and plasma and volume constraints in the circulatory system. In 1954, the Government wished to establish a site for increased production of blood products. This followed on from
2871-567: The 1990s as a result of increased pressure from national discount chains such as Walmart and Target , filed for Chapter 11 bankruptcy protection in January 2004. Bain had been able to recover value on its investment through a dividend recapitalization in 2003. In early 2001, Bain agreed to purchase a 30 percent stake, worth $ 600 million, in Huntsman Corporation , a leading chemical company owned by Jon Huntsman, Sr. , but
2970-445: The 1990s found that the firm lost money or broke even on 33 of them. Another study that looked at the eight-year period following 77 deals during the same time found that in 17 cases the company went bankrupt or out of business, and in 6 cases Bain Capital lost all its investment. But 10 deals were very successful and represented 70 percent of the total profits. Romney had two diversions from Bain Capital during
3069-530: The BPL was vested into a limited company, Bio Products Laboratory Ltd, and ownership transferred to the DoH, with BPL Ltd and DCI Biologicals Inc brought under the same DoH holding company, Plasma Resources UK Ltd. On 18 July 2013 it was announced by Business Secretary Vince Cable that Bain Capital had bought 80% of Plasma Resources UK (PRUK) from the DoH for £230m, which included both BPL and DCI Biologicals. The company
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3168-590: The British government sold an 80% stake in PRUK to American hedge fund Bain Capital , in a deal estimated to be worth £200 million. The sale was met with criticism in the UK. In 2009, the U.K. stopped importing plasma from the United States, as it was no longer a viable option due to regulatory and jurisdictional challenges. At present (2024), blood donated in the United Kingdom is used by UK Blood Services for
3267-555: The Frist family (which had founded the company) completed a $ 31.6 billion acquisition of Hospital Corporation of America , 17 years after it was taken private for the first time in a management buyout. At the time of its announcement, the HCA buyout was the first of several to set new records for the largest buyout, eclipsing the 1989 buyout of RJR Nabisco . It was later surpassed by the buyouts of EQ Office and TXU . In August 2006, Bain
3366-607: The Lister Institute and the Blood Products Laboratory was established with funding from the Ministry of Health. Enlarged facilities for plasma fractionation and freeze-drying were established. During the 1970s and 1980s it became apparent that Factor VIII products produced at the BPL site (and other products from other companies) had infected haemophiliacs with life-threatening viruses. In 1991 it
3465-703: The Lister Institute undertook experimental and production work with A.S. McFarlane. The two scientists devised a process to clarify outdated blood plasma to render it suitable for transfusion. Laboratory testing was undertaken in the historic Queensbury Lodge, the site of Joseph Lister's laboratory. In 1943, Kekwick was appointed Head of the Lister's Biophysics Division, Kekiwick established the Blood Filtration Unit and he and his team worked on methods of freeze-drying plasma and then of separating out proteins in blood plasma. These early products were used to meet
3564-669: The Marcucci family acquired BPL and announced that their operations will be merged with another company acquired by the duo, Kedrion. The Blood Products Laboratory was established in 1954 as part of the Lister Institute of Preventive Medicine by the Medical Research Council . Lister purchased the Elstree site in 1902 and operated on the site until 1978. During this time, Professor R. A.Kekwick, working at
3663-582: The UK. In 2002 the Department of Health (DoH) formed DCI Biologicals Inc to purchase US company Life Resources Inc to supply all of the BPL's plasma. BPL became an operating division within new special health authority , NHS Blood and Transplant , in 2005. This placed BPL alongside the National Blood Service and the organ transplant division, a strategic partnership to safeguard blood, tissues and blood products. On 31 December 2010
3762-563: The US. The company was sold to Great Universal Stores for $ 1.7 billion just months after being acquired. Other notable Bain investments of the late 1990s, included Sealy Corporation , the manufacturer of mattresses; Alliance Laundry Systems ; Domino's Pizza and Artisan Entertainment. Much of the firm's profits was earned from a relatively small number of deals, with Bain Capital's overall success and failure rate being about even. One study of 68 deals that Bain Capital made up through
3861-659: The Williamhouse-Regency Division of Delaware, Inc. in October 1995, Niagara Envelope Company, Inc. in 1996, and Shade/Allied, Inc. in February 1997. Ampad's revenue began to decline in 1997, and the company laid off employees and closed production facilities to maintain profitability. Employment declined from 4,105 in 1996 to 3,800 in 2000. The company ceased trading on the New York stock exchange on December 22, 2000, and filed for bankruptcy in 2001. At
3960-506: The acquisition of Burlington Coat Factory , a discount retailer operating 367 department stores in 42 states, in a $ 2 billion buyout transaction. Six months later, in October 2006, Bain and The Blackstone Group acquired Michaels Stores , the largest arts and crafts retailer in North America in a $ 6.0 billion leveraged buyout. Bain and Blackstone narrowly beat out Kohlberg Kravis Roberts and TPG Capital in an auction for
4059-623: The announcement of the HD Supply deal, on June 27, Bain announced the acquisition of Guitar Center , the leading musical equipment retailer in the U.S. Bain paid $ 1.9 billion, plus $ 200 million in assumed debt, representing a 26% premium to the stock's closing price prior to the announcement. Bain also acquired Edcon Limited , which operates Edgars Department Stores in South Africa and Zimbabwe for 25 billion rand ($ 3.5 billion) in February 2007. Other investments during
Bio Products Laboratory - Misplaced Pages Continue
4158-404: The blood supply, the British government began to phase out blood plasma from U.K. donors and by the end of 1999 had imported all blood products made with plasma from the United States. In 2002, the British government purchased Life Resources Incorporated, an American blood supply company, to import plasma. The company became Plasma Resources UK (PRUK) which owned Bio Products Laboratory . In 2013,
4257-434: The body's total blood volume. It is the intravascular part of extracellular fluid (all body fluid outside cells). It is mostly water (up to 95% by volume), and contains important dissolved proteins (6–8%; e.g., serum albumins , globulins , and fibrinogen ), glucose , clotting factors , electrolytes ( Na , Ca , Mg , HCO 3 , Cl , etc.), hormones , carbon dioxide (plasma being
4356-842: The buyout boom included: Bavaria Yachtbau , acquired for €1.3 billion in July 2007 as well as Sensata Technologies, acquired from Texas Instruments in 2006 for approximately $ 3 billion. It is noted that Bain Capital seldom engages in reinvesting in its own companies that ran into difficulties. This was the case with Dade Behring , which was sold after emerging from a bankruptcy. In July 2008, Bain Capital, together with NBC Universal and Blackstone Group agreed to purchase The Weather Channel from Landmark Communications . The company also partnered with Thomas H. Lee Partners to acquire Clear Channel Communications in July 2008. That same year, Bain Capital acquired D&M Holdings for $ 442 million. In June 2009, Bain Capital announced
4455-461: The chance to head a new venture that would invest in companies and apply Bain's consulting techniques to improve operations. In addition to the three founding partners, the early team included Fraser Bullock , Robert F. White , Joshua Bekenstein , Adam Kirsch, and Geoffrey S. Rehnert. Romney initially held the titles of president and managing general partner or managing partner. He later became referred to as managing director or CEO as well. He
4554-725: The collapse of the Dot-com bubble . In November 2003, Bain completed an investment in Warner Music Group through an acquisition by Edgar Bronfman Jr. In 2004 Bain acquired the Dollarama chain of dollar stores , based in Montreal , Quebec , Canada and operating stores in the provinces of Eastern Canada for $ 1.05 billion CAD . In March 2004, Bain acquired Brenntag Group from Deutsche Bahn AG (Exited in 2006; sold to BC Partners for $ 4B). In August 2003, Bain acquired
4653-839: The company acquired a majority stake in the clothing chain Canada Goose Inc. In April 2014, Bain Capital purchased a controlling stake in Viewpoint Construction Software, a construction-specific software company, for $ 230 million. In November 2014, the company and Virgin Group announced the creation of a new cruise line, which is currently known as Virgin Voyages . Later that year, Bain agreed to purchase four divisions of CRH for roughly $ 650 million. In March 2015, Bain Capital agreed to buy Blue Coat Systems for roughly $ 2.4 billion. In 2016,
4752-422: The company entered into bankruptcy in 2002. Following its restructuring, Dade Behring emerged from Bankruptcy in 2003 and continued to operate independently until 2007 when the business was acquired by Siemens Medical Solutions . Bain and Goldman lost their remaining stock in the company as part of the bankruptcy. By the end of the decade, Bain Capital was on its way to being one of the top private equity firms in
4851-518: The company public the following year. Bain Capital began the new decade by closing on its seventh fund, Bain Capital Fund VII, with over $ 3.1 billion of investor commitments. The firm's most notable investments in 2000 included the $ 700 million acquisition of Datek, sold to TD Ameritrade in 2002, as well as the $ 305 million acquisition of KB Toys from Consolidated Stores . KB Toys, which had been financially troubled since
4950-758: The company with DuPont's in vitro diagnostics business in May 1996 and subsequently with the Behring Diagnostics division of Hoechst AG in 1997. Aventis , the successor of Hoechst, acquired 52% of the combined company. In 1999, the company reported $ 1.3 billion of revenue and completed a $ 1.25 billion leveraged recapitalization that resulted in a payout to shareholders. The dividend, taken together with other previous shareholder dividends resulted in an eightfold return on investment to Bain Capital and Goldman Sachs. Revenues declined from 1999 through 2002 and despite attempts to cut costs through layoffs
5049-434: The company. In June 2007, Bain agreed to acquire HD Supply , the wholesale construction supply business of Home Depot for $ 10.3 billion. Bain, along with partners Carlyle Group and Clayton, Dubilier & Rice , would later negotiate a lower price ($ 8.5 billion) when the initial stages of the subprime mortgage crisis caused lenders to seek to renegotiate the terms of the acquisition financing. Just days after
SECTION 50
#17327728491845148-537: The consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. Bain led a consortium, together with The Carlyle Group and Thomas H. Lee Partners to acquire Dunkin' Brands . The private equity firms paid $ 2.425 billion in cash for the parent company of Dunkin' Donuts and Baskin-Robbins in December 2005. In 2006, Bain Capital and Kohlberg Kravis Roberts , together with Merrill Lynch and
5247-532: The deal was never completed. With a significant amount of committed capital in its new fund available for investment, Bain was one of a handful of private equity investors capable of completing large transactions in the adverse conditions of the early 2000s recession . In July 2002, Bain together with TPG Capital and Goldman Sachs Capital Partners , announced the high-profile $ 2.3 billion leveraged buyout of Burger King from Diageo . However, in November
5346-431: The determination of the amount of blood cells in blood via flow cytometry . Plasma was already well known when described by William Harvey in de Motu Cordis in 1628, but knowledge of it probably dates as far back as Vesalius (1514–1564). The discovery of fibrinogen by William Henson, c. 1770 , made it easier to study plasma, as ordinarily, upon coming in contact with a foreign surface – something other than
5445-595: The early 1940s was quite successful (and popular in the United States) based on Charles Drew 's contribution. A large project began in August 1940 to collect blood in New York City hospitals for the export of plasma to Britain. Drew was appointed medical supervisor of the " Plasma for Britain " project. His notable contribution at this time was to transform the test tube methods of many blood researchers into
5544-490: The employee pension fund had a liability of $ 44 million. Bain's investment in Dade Behring represented a significant investment in the medical diagnostics industry. In 1994, Bain, together with Goldman Sachs Capital Partners completed a carveout acquisition of Dade International, the medical diagnostics division of Baxter International in a $ 440 million acquisition. Dade's private equity owners merged
5643-428: The end of 1990, Bain had raised $ 175 million of capital and financed 35 companies with combined revenues of $ 3.5 billion. In July 1992, Bain acquired Ampad (originally American Pad & Paper) from Mead Corporation , which had acquired the company in 1986. Mead, which had been experiencing difficulties integrating Ampad's products into its existing product lines, generated a cash gain of $ 56 million on
5742-402: The end of the 1980s, leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor . The SunGard transaction is also notable in the number of firms involved in the transaction, the largest club deal completed to that point. The involvement of seven firms in
5841-663: The end of the war the American Red Cross had provided enough blood for over six million plasma packages. Most of the surplus plasma was returned to the United States for civilian use. Serum albumin replaced dried plasma for combat use during the Korean War . Plasma as a blood product prepared from blood donations is used in blood transfusions , typically as fresh frozen plasma (FFP) or Plasma Frozen within 24 hours after phlebotomy (PF24). When donating whole blood or packed red blood cell (PRBC) transfusions, O-
5940-892: The firm and 11North Partners announced the formation of a partnership for the acquisition and operation of open-air retail centres throughout the US and Canada. Bain Capital's businesses include private equity , venture capital , public equity , and credit. The firm also has specialized businesses focused on impact investing, life sciences and real estate. Bain Capital Private Equity has invested across several industries, geographies, and business life cycles. Bain Capital Private Equity also operates in Europe, Australia, and Asia. Historically, Bain Capital has primarily relied on private equity funds , pools of committed capital from pension funds , insurance companies , endowments , fund of funds , high-net-worth individuals , sovereign wealth funds , and other institutional investors . According to
6039-489: The firm and to his departure negotiations. Bain Capital Fund VI in 1998 was the last one Romney was involved in; investors were worried that with Romney gone, the firm would have trouble raising money for Bain Capital Fund VII in 2000, but in practice the $ 2.5 billion was raised without much trouble. His former partners have said that Romney had no role in assessing other new investments after February 1999, nor
SECTION 60
#17327728491846138-470: The firm during the 1999-2002 period also garnered attention. In 2000, DIC Entertainment chairman and CEO Andy Heyward partnered with Bain Capital Inc in a management buyout of DIC from The Walt Disney Company . Heyward continued as chairman and CEO of the animation studio, which has more than 2,500 half-hours of programming in its library. He purchased Bain Capital's interest in 2004 and took
6237-507: The firm named Jonathan Lavine and John Connaughton as co-managing partners, and also named Steven Pagliuca and Joshua Bekenstein as co-chairman. In March 2017, Bain Capital agreed to acquire industrial cleaning company Diversey for $ 3.2 billion. Later that year, Bain partnered with Cinven to take German company Stada Arzneimittel private. In February 2018, Bain Capital Private Equity agreed to acquire Dutch stroller brand Bugaboo International . In March 2018, Bain Capital purchased
6336-464: The firm was finalized in early 2002. Romney negotiated a ten-year retirement agreement with Bain Capital that allowed him to receive a passive profit share and interest as a retired partner in some Bain Capital entities, including buyout and Bain Capital investment funds, in exchange for his ownership in the management company. Because the private equity business continued to thrive, this deal would bring him millions of dollars in annual income. Romney
6435-635: The first half of the decade. From January 1991 to December 1992, Romney was the CEO of Bain & Company where he led the successful turnaround of the consulting firm (he remained managing general partner of Bain Capital during this time). In November 1993, he took a leave of absence for his unsuccessful 1994 run for the U.S. Senate seat from Massachusetts ; he returned the day after the election in November 1994. During that time, Ampad workers went on strike, and asked Romney to intervene; Bain Capital lawyers asked him not to get involved, although he did meet with
6534-416: The first successful mass production techniques. Nevertheless, the decision was made to develop a dried plasma package for the armed forces as it would reduce breakage and make the transportation, packaging, and storage much simpler. The resulting dried plasma package came in two tin cans containing 400 cc bottles. One bottle contained enough distilled water to reconstitute the dried plasma contained within
6633-563: The head of the Salt Lake Organizing Committee for the 2002 Winter Olympics . The decision caused turmoil at Bain Capital, with a power struggle ensuing. Some partners left and founded the Audax Group and Golden Gate Capital . Other partners threatened to leave, and there was a prospect of eight-figure lawsuits being filed. Romney was worried that the firm might be destroyed, but the crisis ebbed. Romney
6732-659: The human body with a defense system against invading pathogens and other immune diseases. Fibrinogen proteins make up most of the remaining proteins in the blood. Fibrinogens are responsible for clotting blood to help prevent blood loss. Plasma is normally yellow due to bilirubin , carotenoids , hemoglobin , and transferrin . In abnormal cases, plasma can have varying shades of orange, green, or brown. The green color can be due to ceruloplasmin or sulfhemoglobin . The latter may form due to medicines that are able to form sulfonamides once ingested. A dark brown or reddish color can appear due to hemolysis , in which methemoglobin
6831-540: The immune system and transport hormones and other compounds around the body. There are three main types of globulins. Alpha-1 and Alpha-2 globulins are formed in the liver and play an important role in mineral transport and the inhibition of blood coagulation. An example of beta globulin found in blood plasma includes low-density lipoproteins (LDL) which are responsible for transporting fat to the cells for steroid and membrane synthesis. Gamma globulin, better known as immunoglobulins, are produced by plasma B cells, and provides
6930-579: The importance of blood in therapeutic medicine, the need for blood products during the Second World War (particularly the use of albumin) and the formation on 26 September 1946 of the National Blood Transfusion Service. It had also been discovered that a second form of haemophilia (Haemophilia B) existed, which was treatable with blood protein called Factor IX. An agreement was reached between the Government, MRC and
7029-404: The main medium for excretory product transportation), and oxygen . It plays a vital role in an intravascular osmotic effect that keeps electrolyte concentration balanced and protects the body from infection and other blood-related disorders. Blood plasma can be separated from whole blood through blood fractionation , by adding an anticoagulant to a tube filled with blood, which is spun in
7128-554: The manufacture of plasma blood components (Fresh Frozen Plasma (FFP) and cryoprecipitate). However, plasma from UK donors is still not used for the commercial manufacture of fractionated plasma medicines. Simulated body fluid (SBF) is a solution having a similar ion concentration to that of human blood plasma. SBF is normally used for the surface modification of metallic implants, and more recently in gene delivery application. Bain Capital Bain Capital, LP
7227-402: The nation, having increased its number of partners from 5 to 18, having 115 employees overall, and having $ 4 billion under its management. The firm's average annual return on investments was 113 percent. It had made between 100 and 150 deals where it acquired and then sold a company. Romney took a paid leave of absence from Bain Capital in February 1999, when he became
7326-694: The needs of the Armed Services and civilian establishments. In 1948 the Blood Filtration Unit came under the joint management of the Medical Research Council (MRC) and the Lister Institute, and the name was changed to the Blood Products Research Unit and it occupied the newly built laboratories (or 'Building 25'). The aim of the Unit was directed towards the preparation of plasma fractions for clinical use During
7425-415: The original transaction collapsed when Burger King failed to meet certain performance targets. In December 2002, Bain and its co-investors agreed on a reduced $ 1.5 billion purchase price for the investment. The Bain consortium had support from Burger King's franchisees, who controlled approximately 92% of Burger King restaurants at the time of the transaction. Under its new owners, Burger King underwent
7524-453: The osmotic pressure of the blood. Without albumins , the consistency of blood would be closer to that of water. The increased viscosity of blood prevents fluid from entering the bloodstream from outside the capillaries. Albumins are produced in the liver, assuming the absence of a hepatocellular deficiency. The second most common type of protein in the blood plasma are globulins. Important globulins include immunoglobins which are important for
7623-517: The other Kedrion shareholders had their shares transferred to the new company. In turn, to complete the agreement, the family group received the support of its co-investors, Ampersand Capital Partners and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA). Blood plasma Blood plasma is a light amber -colored liquid component of blood in which blood cells are absent, but which contains proteins and other constituents of whole blood in suspension . It makes up about 55% of
7722-566: The other bottle. In about three minutes, the plasma would be ready to use and could stay fresh for around four hours. The Blood for Britain program operated successfully for five months, with total collections of almost 15,000 people donating blood, and with over 5,500 vials of blood plasma. Following the Supplying Blood Plasma to England project, Drew was named director of the Red Cross blood bank and assistant director of
7821-619: The owner of the New England Patriots football team . They also included members of elite Salvadoran families such as Ricardo Poma whose capital fled the country's civil war . They and other wealthy Latin Americans invested $ 9 million primarily through offshore companies registered in Panama . While Bain Capital was founded by Bain executives, the firm was not an affiliate or a division of Bain & Company but rather
7920-580: The sale. Under Bain's ownership, the company enjoyed a significant growth in sales from $ 106.7 million in 1992 to $ 583.9 million in 1996, when the company was listed on the New York Stock Exchange . Under Bain's ownership, the company also made a number of acquisitions, including writing products company SCM in July 1994, brand names from the American Trading and Production Corporation in August 1995, WR Acquisition and
8019-543: The shareholders decided to sell BPL Holdings to Creat, an investment company based in Beijing that owns part of a plasma fractionator in China . In 2022, Permira and Marcucci entered into an agreement to acquire and merge BPL and Kedrion operations into one venture. As a result, the new company would inherit the shareholders of the companies involved, requiring the support of its co-investors. In this case, FSI, CDP Equity and
8118-548: The subject of political and media scrutiny as a result of co-founder Mitt Romney 's later political career, especially his 2012 presidential campaign . In June 2023, Bain Capital was ranked 13th in Private Equity International 's PEI 300 ranking of the largest private equity firms in the world. Bain Capital was founded in 1984 by Bain & Company partners Mitt Romney , T. Coleman Andrews III, and Eric Kriss , after Bill Bain had offered Romney
8217-523: The time of the bankruptcy, Bain Capital held a 34.9% equity ownership interest in the company. The assets were acquired in 2003 by Crescent Investments . Bain's eight years' of involvement in Ampad is estimated to have generated over $ 100 million in profits ($ 60 million in dividends, $ 45–50 million from the proceeds from stock issued after the company went public, and $ 1.5-2 million in annual management fees). In 1994, Bain acquired Totes ,
8316-416: The vascular endothelium – clotting factors become activated and clotting proceeds rapidly, trapping RBCs etc. in the plasma and preventing separation of plasma from the blood. Adding citrate and other anticoagulants is a relatively recent advance. Upon the formation of a clot, the remaining clear fluid (if any) is blood serum, which is essentially plasma without the clotting factors The use of blood plasma as
8415-525: The workers to tell them he had no position of active authority in the matter. In 1994, Bain invested in Steel Dynamics , based in Fort Wayne, Indiana , a prosperous steel company that has grown to the fifth largest in the US, employs about 6,100 people, and produces carbon steel products with 2010 revenues of $ 6.3 billion on steel shipments of 5.3 million tons. In 1993, Bain acquired
8514-460: Was also the sole shareholder of the firm. At the time, the firm had fewer than ten employees. In the face of skepticism from potential investors, Romney and his partners spent a year raising the $ 37 million in funds needed to start the new operation. Bain partners put in $ 12 million of their own money and sourced the rest from wealthy individuals. Early investors included Boston real estate mogul Mortimer Zuckerman and Robert Kraft ,
8613-517: Was announced in December 2023 to sell the firm to AbbVie for $ 8.7 billion which put Bain's 36.5% stake in Cerevel to about $ 2.7 billion giving a tenfold return on investment. In June 2020, Bain Capital purchased Virgin Australia . In October 2020, it was reported that the company was negotiating a takeover of UK-based insurance company Liverpool Victoria (LV=). The potential deal could have
8712-405: Was controlled by Bain Capital Inc., the management company that Romney had full ownership control of. As CEO, Romney had a final say in every deal made. In the 1990s, Bain Capital started several affiliates that supported its private equity and other assets classes. The long-short equity hedge fund, Brookside Capital, was founded in 1996 and, Sankaty Advisors, the company's fixed income affiliate,
8811-975: Was founded in 1984 by partners from the consulting firm Bain & Company . The company is headquartered at 200 Clarendon Street in Boston with 22 offices in North America, Europe, Asia, and Australia. Since its establishment, Bain Capital has invested in or acquired hundreds of companies, including AMC Theatres , Artisan Entertainment , Aspen Education Group , Apex Tool Group , Brookstone , Burger King , Burlington Coat Factory , Canada Goose , DIC Entertainment , Domino's Pizza , DoubleClick , Dunkin' Donuts , D&M Holdings , Guitar Center , Hospital Corporation of America (HCA) , iHeartMedia , ITP Aero , KB Toys , Sealy , Sports Authority , Staples , Toys "R" Us , Virgin Australia , Virgin Voyages , Warner Music Group , Fingerhut , Athenahealth , The Weather Channel , Varsity Brands and Apple Leisure Group , which includes AMResorts and Apple Vacations. The company and its actions during its first 15 years became
8910-501: Was he involved in directing the company's investment funds. Discussions over the final terms of Romney's departure dragged on during this time, with Romney negotiating for the best deal he could get and his continuing position as CEO and sole shareholder giving him the leverage to do so. Although he had left open the possibility of returning to Bain after the Olympics, Romney made his crossover to politics in 1999. His separation from
9009-629: Was in Staples, Inc. , the office supply retailer . In 1986, Bain provided $ 4.5 million to two supermarket executives, Leo Kahn and Thomas G. Stemberg , to open an office supply supermarket in Brighton, Massachusetts . The fast-growing retail chain went public in 1989; by 1996, the company had grown to over 1,100 stores, and as of fiscal year-end January 2012, Staples reached over $ 20 billion in sales, nearly $ 1.0B in net income, 87,000 employees, and 2,295 stores. Bain Capital eventually reaped
9108-420: Was not involved in day-to-day operations of the firm after starting the Olympics position. Those were handled by a management committee, consisting of five of the fourteen remaining active partners with the firm. However, according to some interviews and press releases during 1999, Romney said he was keeping a part-time function at Bain. During his leave of absence, Romney continued to be listed in filings to
9207-410: Was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $ 11.3 billion. Bain's partners in the acquisition were Silver Lake Partners , TPG Capital , Goldman Sachs Capital Partners , Kohlberg Kravis Roberts , Providence Equity Partners , and Blackstone Group . This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at
9306-482: Was part of the consortium , together with Kohlberg Kravis Roberts , Silver Lake Partners , and AlpInvest Partners , that acquired a controlling 80.1% share of semiconductors unit of Philips for €6.4 billion. The new company, based in the Netherlands, was renamed NXP Semiconductors . During the buyout boom, Bain was active in the acquisition of various retail businesses. In January 2006, Bain announced
9405-689: Was renamed the Bio Products Laboratory to reflect the internal market in the National Health Service and in 1993 it became part of the National Blood Authority . BPL began cross-charging NHS hospitals for its products and limited competition in the international blood plasma market was permitted. In 1998 the BPL began sourcing its plasma from the United States due to concerns over vCJD in
9504-476: Was started two years later. Building affiliates for the firm was directed by three conditions: that it leveraged its core skills; one of its Managing Directors has a leadership role; and, the new business invests in attractive asset class. Beginning in 1989, the firm, which began as a venture capital source investing in start-up companies , adjusted its strategy to focus on leveraged buyouts and growth capital investments in more mature companies. Their model
9603-489: Was subsequently renamed BPL Holdings, with the original BPL site now called BPL Therapeutics and DCI named BPL Plasma. In 2018, when it was the sole owner, the Chinese group Creat had announced that it planned to integrate BPL's operations with German plasma product manufacturer Biotest. In 2013, Bain Capital acquired an 80% controlling interest in BPL, previously wholly owned by the UK Government . Three years later,
9702-433: Was the first and last CEO of Bain Capital; since his departure became final, it has continued to be run by management committee. Bain Capital itself, and especially its actions and investments during its first 15 years, came under press scrutiny as the result of Romney's 2008 and 2012 presidential campaigns , including accusations of Asset Stripping . Romney's leave of absence and the level of activity he had within
9801-486: Was to buy existing firms with money mostly borrowed against their assets, partner with existing management to apply Bain methodology to their operations (rather than the hostile takeovers practiced in other leverage buyout scenarios), and sell them off in a few years. Existing CEOs were offered large equity stakes in the process, owing to Bain Capital's belief in the emerging agency theory that CEOs should be bound to maximizing shareholder value rather than other goals. By
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