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

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

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)

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


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


Unique Pub Company acquired an additional 677 pubs
Sale of the Phoenix Inns pub portfolio

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

Acquired WRG, one of the leading waste management companies and the leading waste disposal operator in the UK
Closed Terra Firma Capital Partners II (TFCP II), the largest 1st time independent European buy-out fund


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

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

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

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

Continued to build existing businesses through organic growth and add-on acquisitions
Endorsed the ILPA Private Equity Principles

Acquired RTR, the largest solar-energy business in Italy
Signed up to the United Nations Principles of Responsible Investing

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

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

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

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

Sale of Odeon & UCI Cinemas to AMC Theatres
Acquired Welcome Hotels, a German operator with 12 hotels
Andrew Géczy appointed as CEO

Sold EverPower‘s operating and development businesses and RTR
Acquired Parmaco, a Finnish modular building company
Vivek Ahuja joins Terra Firma as Group CFO
Completed the sales of Wyevale Garden Centres and the remaining 24 brighterkind care homes
Vivek Ahuja appointed as Terra Firma’s CEO
The remaining stations in the CPC portfolio are acquired by the Hands Family Office
Sale of Parmaco to Partners Group completed
Terra Firma acquires Kier Living, a UK-based homebuilding company, from Kier Group
Kier Living is rebranded to Tilia Homes
Completed acquisition of Hopkins Homes, the largest privately-owned housebuilder in East Anglia
Terra Firma acquires a majority stake in one of the UK’s largest and most successful land promoters, Richborough Estates
Richard Hands and Paul Hatter appointed as Managing Director and Chief Operating Officer
Guy Hands steps down as Chief Investment Officer and Chairman of Terra Firma
Tilia Homes and Hopkins Homes are brought together to form untypical
Annington announces the sale of its interests in the Married Quarters Estate to the Ministry of Defence