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3i Group plc
Formerly
  • Finance for Industry Public Limited Company (1973–1983)
  • Investors in Industry Group plc (1983–1988)[1]
Company typePublic limited company
ISINGB00B1YW4409
IndustryCorporate finance
Founded1945; 79 years ago (1945)
FounderBank of England and a syndicate of British banks
HeadquartersLondon, England, UK
Key people
Services
Increase £4,579 million (2023)[3]
Increase £4,577 million (2023)[3]
AUM£22.9 billion (2023)[3]
Number of employees
c.250 (2024)[4]
Website3i.com Edit this at Wikidata

3i Group plc is a British multinational private equity and venture capital company based in London, England. 3i is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

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The company was formed in 1945, as the Industrial and Commercial Finance Corporation (ICFC), by the Bank of England and the major British banks to provide long-term investment funding for small and medium-sized enterprises. Its foundation was inspired by the Macmillan Committee, and resulted from the recognition in the 1930s, given new impetus in the postwar era, that smaller businesses faced a gap in available corporate finance due to banks being unwilling to provide long-term capital and the companies being too small to raise capital from the public markets.[5]

During the 1950s and 1960s, and particularly after 1959 when the shareholder banks allowed it to raise external funds, ICFC expanded significantly. In 1973 ICFC acquired Finance Corporation for Industry, a sister company also formed in 1945 which focused on finance for large companies, and was renamed Finance for Industry (FFI). In the 1980s, FFI became a leading provider of finance for management buyouts, and expanded internationally. In 1983 the company was renamed Investors in Industry, commonly known as 3i.[6]

3i Group was created in 1987 when the banks sold off their stakes to form a public limited company. In 1994 the company was floated on the London Stock Exchange with a market capitalisation of £1.5 billion.[7]

Operations

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3i invests in mid-market buyouts, growth capital (minority) and infrastructure. Sectors invested in are business and financial services, consumer, industrials and energy, and healthcare.

Current investments

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Former investments

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References

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  1. ^ "3i Group plc overview - Find and update company information - GOV.UK". Companies House. 1 November 1973. Retrieved 6 August 2023.
  2. ^ "Our People". Retrieved 19 February 2021.
  3. ^ a b c "Annual Results 2023" (PDF). 3i. Retrieved 11 February 2024.
  4. ^ "Why join 3i?". 3i Group. Retrieved 11 February 2024.
  5. ^ The Times, 24 January 1945
  6. ^ The Times, 5 July 1983
  7. ^ "Our History". 3i. Archived from the original on 14 February 2013. Retrieved 15 March 2015.
  8. ^ 3i and Khazanah lead investment in ACR’s $620m inaugural private placement Alternative Assets, 1 December 2006
  9. ^ 3i Proposes Preliminary Terms for Loans to Back Action Buyout Bloomberg Business Week 18 August 2011
  10. ^ Ratcliffe, Madeline (21 December 2015). "3i hopes Audley Travel will take off with £159m investment". London: City AM. eISSN 2516-5453.
  11. ^ "About ESP". ESP Utilities Group. Retrieved 9 July 2021.
  12. ^ Turvill, William (17 July 2017). "UK private equity giant 3i sells stake in Barcelona-based funeral services company Memora". City AM. London. eISSN 2516-5453. Retrieved 19 July 2017.
  13. ^ a b c d e Portfolio 3i
  14. ^ "Sale to private equity firm should bolster Q Holding Co". Crain's Cleveland Business. 20 November 2014. Retrieved 19 December 2014.
  15. ^ 3i offers to take full control of Nordic ferry group Scandlines Financial Times 12 September 2013
  16. ^ 3i Group sells ferry operator Scandlines, buys backs stake Reuters 26 March 2018
  17. ^ 3i Announces First North American Infrastructure Transaction with Investment in Smarte Carte Smarte Carte 16 October 2017
  18. ^ HG Capital secures stake in 3i-owned VNU Media Reuters 3 August 2009
  19. ^ 3i invests €250m in Weener Plastic Packaging Group Archived 7 June 2015 at the Wayback Machine 3i 4 June 2015
  20. ^ Agent Provocateur sold to private equity firm 3i for £60m The Independent 16 November 2007
  21. ^ 3i races to clinch sale of struggling Agent Provocateur Sky News 23 February 2017
  22. ^ 3i divests stake in digital TV operator Boxer 3i 19 November 2008
  23. ^ MBO preferred for Chiltern Rail Privatisation News issue 32 13 June 1996 page 1
  24. ^ Last management buy-out rail franchise prepares to be sold Rail issue 350 10 February 1999 page 11
  25. ^ 3i divests interest in Finnish telecoms operator DNA Oy 3i 18 December 2009
  26. ^ Dockwise to list in Amsterdam, 3i exits Reuters 19 October 2009
  27. ^ Eco adviser ERM sold to Charterhouse Capital Partners The Guardian 16 May 2011
  28. ^ News in Brief Railway Gazette International December 2010 page 21
  29. ^ Eversholt sold Today's Railways UK issue 159 March 2015 page 14
  30. ^ Foster once again wholly owned after 3i buy-out Architects' Journal 30 June 2014
  31. ^ Manager's bid wins Freightliner Rail issue 279 22 May 1996 page 6
  32. ^ Bahrain investment firm Arcapita buys Freightliner Rail issue 595 2 July 2008 page 19
  33. ^ 3i invests in Giraffe restaurant chain 3i 23 October 2006
  34. ^ Tesco buys child-friendly restaurant chain Giraffe for £50m The Guardian 13 March 2013
  35. ^ Wisconsin scoops freight as franchisees are chosen Railway Gazette International February 1996 page 69
  36. ^ Great Western Trains taken over by FirstGroup The Railway Magazine issue 1165 May 1998 page 11
  37. ^ Davis offloads HSS tool hire to 3i The Guardian 17 December 2003
  38. ^ HSS rejuvenated and sold to Aurigo and Och-Ziff 3i 13 June 2007
  39. ^ 3i concludes successful partnership with Little Sheep 3i 25 March 2009
  40. ^ 3i Sells Mayborn After 10-Year Holding Period Private Equity News 29 April 2016
  41. ^ Caterpillar buys 3i's engine maker MWM for $810 million Reuters 22 October 2010
  42. ^ Webb, Quentin (21 September 2010). "Green light for sale of UK parking-ticket firm NSL". Reuters. Archived from the original on 23 June 2022.
  43. ^ 3i backed Petrofac in £742m flotation on London Stock Exchange 3i 4 October 2005
  44. ^ 3i backed Salamander Energy in $405m IPO on London Stock Exchange 3i 5 December 2006
  45. ^ 3i to snap up SLR Consulting The Times 8 March 2008
  46. ^ Target on road to £250m float Manchester Evening News 30 June 2005
  47. ^ 3i divests stake in Telecity Group 3i 11 February 2010
  48. ^ Titan Airways' management buyout completed Aviation Week & Space Technology 22 February 2013
  49. ^ Croydon Tramlink go-ahead Railway Gazette International September 1996 page 547
  50. ^ Croydon buy out Railway Gazette International April 2008 page 212
  51. ^ Travellers Fare The Railway Magazine issue 1055 March 1989 page 144
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