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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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