Breitling
Episode Description:
Andreas Holzmueller and Luke Chapman represent Partners Group, an investment firm that canvasses buyouts, real estate, infrastructure, and private credit with $135 billion under management, $71 billion of which is in private equity.
Breitling is one of the leading Swiss watchmakers, founded in 1884 as a pioneer in aviation-focused technology, and which today, is positioned as a casual, inclusive, and sustainable luxury brand.
Our conversation covers Partners Group’s thematic approach, Breitling’s long history, and its characteristics as a luxury brand business. We discuss Partners’ initial purchase of a minority stake in the business, its path to buying a controlling stake, and plans to grow the business from here.
Show Notes
05:07 Partners Group
07:29 Breitling overview
09:21 Sourcing the deal
11:49 Diligence process
13:18 Value creation
15:55 Risks & issues
17:30 Luxury business economics
18:03 Acquiring a minority stake
21:39 Gameplan
26:35 Operational and market dynamics
28:22 Financing the deal
31:17 Looking ahead
32:19 Lessons learned
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All opinions expressed by Ted and podcast guests are solely their own opinions and do not reflect the opinion of the firms they represent. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.