Willis Stein & Partners is a

private equity firm A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including leve ...

focused on

leveraged buyout A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money (leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loan ...

transactions for

middle-market companies Authorities provide differing definitions of the middle-market or mid-market companies. While some authorities look to revenue generated by companies to define the middle market, other sources regard either asset size or number of employees as a bet ...

. The firm's most notable investments have included

Ziff Davis Ziff Davis, Inc. is an American digital media and internet company. First founded in 1927 by William Bernard Ziff Sr. and Bernard George Davis, the company primarily owns technology-oriented media websites, online shopping-related services, an ...

Roundy's Roundy's Supermarkets (also known as Roundy's) is an American supermarket operator. It owns and operates stores under the names of Pick 'n Save, Metro Market, and Mariano's Fresh Market. The chain is a subsidiary of Kroger. Roundy's operates ...

Jays Foods Jays Foods, Inc., is an American manufacturer of snack products including potato chips, popcorn and pretzels. Jays Foods was founded in 1927 in Chicago, Illinois, and is currently a subsidiary of Snyder's of Hanover.

Lincoln Snacks Company The Lincoln Snacks Company (or Lincoln Snacks) was a manufacturer of caramelized popcorn and popcorn/nut mixes. Lincoln Snacks’ products are produced in Lincoln, Nebraska and sold nationally under the Poppycock, Fiddle Faddle and Screaming Y ...

and Petersen Publishing Company (publisher of

Motor Trend ''MotorTrend'' is an American automobile magazine. It first appeared in September 1949, and designated the first Car of the Year, also in 1949. Petersen Publishing Company in Los Angeles, California, Los Angeles published ''MotorTrend'' until 19 ...

). The firm is headquartered in

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

and was founded in 1995.

History

Prior to founding the firm John Willis and Avy Stein were executives of Continental Illinois Venture Corp. (CIVC), the private equity arm of

Continental Illinois National Bank and Trust Company The Continental Illinois National Bank and Trust Company was at one time the seventh-largest commercial bank in the United States as measured by deposits, with approximately $40 billion in assets. In 1984, Continental Illinois became the largest ...

. When Continental Illinois was acquired in 1994 by

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...

, John Willis and Avy Stein, who had run the group at Continental Illinois left to form Willis Stein & Partners. They were quickly able to raise over $300 million of investor commitments.

Investment funds

Since its inception in 1995, Willis Stein has raised three private equity funds with nearly $3.0 billion of investor commitments. As of 2007, the firm had announced the launch of a fourth fund. Due to mixed results in its 2000 vintage fund, Willis Stein waited nearly eight years before launching a new fund and when it did so the firm significantly decreased its target fund size relative to its last fund.Willis Stein Said to Target $1 Billion Fund
"

New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

, March 26, 2008 * Willis Stein & Partners (1995) - $343 million * Willis Stein & Partners II (1998) - $840 million * Willis Stein & Partners III (2000) - $1.8 billion * Willis Stein & Partners IV (Announced) - $1.0 billion target Willis & Stein Partners are known for purchasing for profit educational institutions and consolidating resources for additional profit margins. Currently owning over 92 for profit educational with plans to close 22 locations due to low profits.

External links

Willis Stein & Partners
(company website)
Willis Stein & Partners Agrees to Acquire Ziff-Davis Publishing for $780 Million - Company Business and Marketing

References

{{DEFAULTSORT:Willis Stein and Partners Private equity firms of the United States Financial services companies established in 1995 Companies based in Chicago