Case Study ista: Digging Deep into CVC’s Long-Term Investment
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F19%3A00109115" target="_blank" >RIV/00216224:14560/19:00109115 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.3905/jpe.2019.1.075" target="_blank" >https://doi.org/10.3905/jpe.2019.1.075</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.3905/jpe.2019.1.075" target="_blank" >10.3905/jpe.2019.1.075</a>
Alternative languages
Result language
angličtina
Original language name
Case Study ista: Digging Deep into CVC’s Long-Term Investment
Original language description
In 2017, CVC sold its target company ista to a Chinese infrastructure investor after an investment period of 14 years. This transaction was the largest private equity exit from a German target company up to date. The authors investigate the transaction structuring and financing as well as CVC’s impact on the financial performance and business development of the target company. The analysis shows that ista grew steady regarding revenue and EBITDA, employed more people, and performed comprehensible internationalization and business area extension decisions. However, the company seems also condemned to success. With each new transaction cycle, the level of liabilities and interest payment obligations increased. ista had to grow and increase efficiency continuously to meet the expectations of debt, mezzanine and equity capital providers. This article provides a holistic overview of the investment phase enabling the reader to form an opinion about CVC’s long-term involvement and to adapt the strategies used in this practical application.
Czech name
—
Czech description
—
Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50206 - Finance
Result continuities
Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
The Journal of Private Equity
ISSN
1096-5572
e-ISSN
2168-8508
Volume of the periodical
22
Issue of the periodical within the volume
2
Country of publishing house
DE - GERMANY
Number of pages
14
Pages from-to
41-54
UT code for WoS article
000460147200006
EID of the result in the Scopus database
2-s2.0-85093903169