Building better businesses - Permira
Building better businesses - Permira
Building better businesses - Permira
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Introduction<br />
01 Introduction<br />
02 2009 Highlights<br />
04 Impact Investing<br />
06 Origination<br />
08 Leadership<br />
10 Development<br />
12 Targets<br />
14 Performance<br />
16 Year in Review<br />
19 Defending the portfolio<br />
20 World class leadership<br />
21 Focus on long-term growth<br />
22 Stable leadership<br />
23 Outlook for 2010<br />
26 Investing in Society<br />
28 Governance<br />
30 Our Portfolio<br />
32 Portfolio Overview<br />
34 Acromas<br />
36 All3Media<br />
38 Arysta LifeScience<br />
40 Birds Eye Iglo Group<br />
42 BorsodChem<br />
44 Cognis<br />
46 Cortefiel<br />
48 DinoSol Supermercados<br />
50 Freescale Semiconductor<br />
52 Galaxy Entertainment Group<br />
54 Hugo Boss and Valentino<br />
56 Just Retirement<br />
58 Marazzi Group<br />
60 Maxeda<br />
62 NDS Group<br />
64 New Look<br />
66 Principal Hayley Group<br />
68 ProSiebenSat.1<br />
70 Provimi<br />
72 Seat PG<br />
74 Sisal<br />
76 TDC<br />
78 Telepizza<br />
80 Appendix<br />
Walker ‘Guidelines for<br />
Disclosure and Transparency<br />
in Private Equity.’<br />
IBC Contact details<br />
In 2009 the <strong>Permira</strong> funds continued to identify<br />
and invest in attractive <strong>businesses</strong>. At the same<br />
time, portfolio companies were strengthening<br />
operations and improving their performance<br />
in response to the still-unpredictable<br />
market environment.<br />
Portfolio company management teams worked<br />
to ensure that every business had the right<br />
operational capability and financial structure.<br />
All portfolio companies reviewed their strategies<br />
and took steps to control costs in light of a more<br />
challenging trading environment, while some<br />
strengthened management. Such actions<br />
have helped to ensure that the funds’ portfolio<br />
companies are now very well positioned for<br />
economic recovery, which we are now starting<br />
to see throughout the portfolio.<br />
The <strong>Permira</strong> funds completed two new<br />
investments in 2009, Just Retirement<br />
(page 56) and NDS (page 62). These<br />
companies were both identified through<br />
local networks and sector relationships.<br />
We expect that transactions sourced in<br />
this way will be characteristic of the<br />
investment environment in 2010.<br />
<strong>Permira</strong> Annual Review 2009 Introduction 1
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