Our history

Terra Firma has a record of innovation and leadership

1994

Guy Hands

Guy Hands founded Nomura’s Principal Finance Group (PFG)

1995

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Terra Firma's acquisition of Phoenix Inns marked the first major entry of a financial buyer into the UK pub sector 

1996

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Completed two innovative UK privatisations: Annington Homes – one of the largest ever single transfers of residential property in the UK - and Angel Trains - the first time securitisation had been used to finance an acquisition in the UK

Awarded Deal of the Year for the securitisation of AT&T Capital (Institutional Investor magazine, 1996) 

1997

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Sale of Angel Trains following a significant overhaul in its operations

Acquisition of Inntrepreneur, the second business within Terra Firma's pub portfolio

Exit of
William Hill following the establishment of its internet betting business

1998

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Acquired Thorn, the consumer goods rental business

1999

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Continued involvement in the UK pub sector acquiring the Unique Pub Company and Inn Partnership, further growing Terra Firma's pub portfolio

2000

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Created Deutsche Annington, now Germany's largest residential property business

2001

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Unique Pub Company acquired an additional 677 pubs

Sale of the Phoenix Inns pub portfolio 

2002


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PFG spun out from Nomura as Terra Firma

Substantial exits from the pub portfolios through the sales of Inn Partnership, Unique Pub Company and Voyager Pub Company 

2003

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Acquired WRG, one of the leading waste management companies and the leading waste disposal operator in the UK

2004

Closed Terra Firma Capital Partners II (TFCP II), the largest 1st time independent European buy-out fund

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Acquired Odeon and UCI simultaneously and merged them to form Europe’s leading cinema operator

2005

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Finalised acquisition of Tank & Rast, the Autobahn services company in Germany

Completed a substantial expansion of the Deutsche Annington portfolio through the acquisiton of Viterra 

2006

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Acquired AWAS and merged it with Pegasus the following year to create the largest independent aircraft leasing company in the world

Completed the largest-ever European Multifamily Commercial Mortgage-backed Securitisation, successfully re-financing Deutsche Annington through a €5.4bn bond issuance

Created Infinis through the spin-out of the waste-to-energy division of WRG, and which is now the UK's largest independent renewable energy generator 

Sale of merged WRG and Shanks business, returning funds to investors

Successful divestments of East Surrey Holdings and BGCL, retaining Phoenix Group as a development opportunity 

2007

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Closed Terra Firma Capital Partners III (TFCP III), the largest 2nd time independent European buy-out fund

Acquired EMI, the recorded music and publishing business

Completed the sale of both the Thorn and Thresher businesses

Refinanced and restructured Odeon & UCI into two property and operating companies, resulting in a return of funds to investors 

2008

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Sale of HBS after an eight-year hold period, returning funds to investors

Sale of transmission business by Phoenix Group

Published the first Terra Firma Annual Review in line with the Walker Guidelines on transparency 

2009

Tim Pryce appointed Chief Executive

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Acquired CPC, the second largest beef producer in Australia – one of the largest private equity deals completed in agriculture

Acquired EverPower, a US wind energy development and management company 

2010

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Continued to build existing businesses through organic growth and add-on acquisitions

Endorsed the ILPA Private Equity Principles  

2011

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Acquired RTR, the largest solar-energy business in Italy

Signed up to the United Nations Principles of Responsible Investing 

2012

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Guy Hands named 20th most influential figure in Private Equity International’s ‘100 Most Influential of the Decade’

Acquired The Garden Centre Group, 129 garden centres across the UK

Acquired Four Seasons Health Care (FSHC), UK’s leading elderly care provider

Purchase of Annington Homes the largest European LBO since 2008

2013

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RTR acquires a portfolio of 31 solar power plants from Acea

Sale of Phoenix Natural Gas, returning funds to investors

Partial exit of Deutsche Annington through an IPO on the Frankfurt Stock Exchange

Partial exit of Infinis through an IPO on the London Stock Exchange

2014

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Exit of Deutsche Annington through a distribution in specie to TFDA investors

240MW Big Sky wind farm acquired by EverPower, making the business a top-20 wind generator in the US

2015

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Sale of Tank & Rast completed, winning Private Equity Awards’ Large-Cap Deal of Year For Germany, Austria and Switzerland

Justin King appointed as Vice Chairman and Head of Portfolio Businesses

2016

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Sale of Odeon & UCI Cinemas to AMC Theatres 

Andrew Géczy appointed as CEO

5

Pub companies owned by Terra Firma between 1995 and 2005

1,800

Pubs across the UK owned by Phoenix Inns at acquisition

"I look forward to making sure that the organisation works optimally in supporting Terra Firma's global investment and fundraising activities and to continuing to work with Guy on developing the business"

Tim Pryce on his CEO appointment, March 2009

1,473m

Of capital expenditure across Terra Firma businesses in 2011

150m

Size of HBS deal

9x

Increase in energy generated by Infinis under Terra Firma ownership

500m

Annual visitors to Tank & Rast service stations

138,000

Number of units owned or under management by Viterra

14

million tonnes of waste per annum handled by WRG

735m

Size of WRG transaction

75

Employees at time of spin-out

57,600

Homes acquired in the Annington transaction

3,600

Engines and carriages acquired in the Angel transaction

13

Initial employees at PFG

"On my first day, I told my team we would invest £1 billion of the bank’s capital over the next two years in asset-based businesses such as pubs, trains and houses"

Guy Hands, SuperReturn Asia 2008

"Our track record, our distinctive investment strategy and the quality and depth of our people puts us in a unique position in the private equity market"

Guy Hands, on Terra Firma's spin out, March 2002

5.7bn

Value of deals completed in 1996 by PFG

600

Almost 600 Pubs added to the Unique Pub Company portfolio

1,500

Licensed betting outlets owned by William Hill across the UK

4,300

Pubs across the UK owned by Inntrepreneur at acquisition

3,854

Pubs owned by Unique Pub Company and Inn Partnership at acquisition

64,000

Initial number of flats acquired by Deutsche Annington

2.1bn

Amount raised for TFCP II

62

Investors committed to the TFCP II fund

5.7bn

AWAS and Pegasus combined transaction size

298MW

RTR Operating Capacity

5.4bn

Amount raised for TFCP III

€5.3bn

Leading UK Private Equity Investor in 2012

1.4GW

Aggregate clean energy generating capacity operated by Infinis, EverPower and RTR

150

Investors committed to the TFCP III fund

58,000

Head of cattle added to the CPC business through add-on acquisitions

5.8m

Hectares of land, 1.4x size of Switzerland

97MW

Additional generation capacity added to RTR during 2011

85

Sites held by RTR across Italy

1,603m

The UK's largest public-to-private deal in 1998

2.25bn

Largest-ever private equity deal in Germany at the time

390

Tank & Rast Service Stations

242

Odeon & UCI Cinemas across Europe