Brookfield Business Partners L.P. is a publicly traded

limited partnership A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited ...

and the primary public vehicle through which

Brookfield Asset Management Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contro ...

, its parent company, owns and operates the business services and industrial operations of its

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

group. It was formed through a spin-off from Brookfield Asset Management in June 2016.

History

Its units trade on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...

(BBU.UN) and

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its liste ...

(BBU). Brookfield Business Partners is led by Chief Executive Officer Cyrus Madon, who joined Brookfield Asset Management in 1998, leads its global private equity group, and is a managing partner of the parent company. In 2016, the company made its first major acquisition, agreeing to acquire a 70% stake in Brazil's largest private water and sewage company, Odebrecht Ambiental, with the remaining 30% continuing to be held by Fundo de Investimento do Fundo de Garantia do Tempo de Servico. The company was renamed BRK Ambiental. In 2017, the company sold Maax, a bathroom fixtures maker, to American Bath for more than twice the value it acquired it for in 2008. In the first quarter of 2017, the company announced an agreement to acquire an approximate 85% stake in Greenergy, a supplier of road fuels in the UK, and an agreement to purchase

Loblaw Companies Loblaw Companies Limited is a Canadian retailer encompassing corporate and franchise supermarkets operating under 22 regional and market-segment banners (including Loblaws), as well as pharmacies, banking and apparel. Loblaw operates a priva ...

' network of gas stations (which were rebranded afterwards to

Mobil Mobil is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil. The brand was formerly owned and operated by an oil and gas corporation of the same name, which itself merged with Exxon to form ExxonMobil in 1999. ...

under a franchise agreement with

Imperial Oil Imperial Oil Limited (French: ''Compagnie Pétrolière Impériale Ltée'') is a Canadian petroleum company. It is Canada's second-biggest integrated oil company. It is majority owned by American oil company ExxonMobil with around 69.6 percent o ...

). On April 6, 2018,

Toshiba , commonly known as Toshiba and stylized as TOSHIBA, is a Japanese multinational conglomerate corporation headquartered in Minato, Tokyo, Japan. Its diversified products and services include power, industrial and social infrastructure systems, ...

completed its sale of

Westinghouse Electric Company Westinghouse Electric Company LLC is an American nuclear power company formed in 1999 from the nuclear power division of the original Westinghouse Electric Corporation. It offers nuclear products and services to utilities internationally, includi ...

to Brookfield Asset Management, through its subsidiary, Brookfield Business Partners, and other partners. In 2019, Brookfield Business Partners bought 45% of the company

BrandSafway BrandSafway is a construction and civil engineering company in the United States. BrandSafway has customers in 30 countries and has annual sales of 5 billion per year. The company provides Safety equipment to businesses around the world. They hav ...

. BrandSafway was valued at $6.7 billion at the time of the purchase. In October 2021, Brookfield announced that it would acquire

Scientific Games Light & Wonder, Inc., formerly Scientific Games Corporation (SG), is an American corporation that provides gambling products and services. The company is headquartered in Las Vegas, Nevada. Light & Wonder's gaming division provides products such ...

' lottery division for $6.05 billion. In April 2022, Brookfield acquired the auto dealer services company

CDK Global CDK Global Inc. is an American multinational corporation based in Hoffman Estates, Illinois, providing data and technology to the automotive, heavy truck, recreation, and heavy equipment industries. The company has 37 locations in 25 countries ...

for $6.41 billion.

References

{{Authority control Brookfield Asset Management Companies listed on the New York Stock Exchange Companies listed on the Toronto Stock Exchange Companies based in Toronto Canadian companies established in 2016