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» Economics » Enterprise (the USA) » Topics begins with T » Texas Pacific Group

Page modified: Wednesday, July 13, 2011 10:11:24

Texas Pacific Group (TPG) is in, in the year 1993 of David Bonderman, James Coulter and William Price created, venture Capital Beteiligungsunternehmen with company headquarters in Fort Worth (Texas), San Francisco and London. The company was designated after an old railway company.

The first Deal was spectacular already: TPG took over the distressed airline Continental and sold it some years later with a plus of 950 per cent.

TPG line is to enter particularly into enterprises with good label name.

With this maxim TPG rose with the American manufacturer of dose vegetable, Del Monte, likewise as with the Italian a motorcycle farmer Ducati or the Swiss shoe manufacturer Bally. Not all investments proved thereby as successfully, e.g. the Hamburg chain Burger King.

When the German E.ON AG placed a daughter in America to the sales, TPG sent allegedly six in dollar notes in the envelope. Today the former EON daughter is at least worth a billion dollar.

The TPG took over some years ago with the German Quandt group control of Gemplus, the world largest manufacturer of smart cards.

Admits became Texas Pacific Group in Germany also by the procedure (in the context private Equity of a group of investors as well as "Credit Suisse roofridge Boston") with the bath armature manufacturer Grohe.

However there are not also contrary opinions, which the TPG certifies, "to exploit" undertaken enterprises to invest but strongly into it; measures accomplished by their would quite lead (also after the resale) to a reorganization and a long-term receipt of the enterprises and jobs.


In the summer 2005 it came now to wild strikes with in Switzerland and the USA residents former the Swissair and TPG daughter GateGourmet, a Catering company, against the airline British Airways. From 7 October 2005 to 7 April 2006 the German GateGourmet at the airport Duesseldorf (2002 sold at TPG) was closed by strike, by the trade union NGG. The longest labor disputes in the history of the Federal Republic of Germany were carried by 82 (of altogether 120) coworkers and were directed against plans of TPG to lower the low wages of the coworkers again around 10%. TPG was not only accused by the strikers to behave like a "grasshopper". A conciliation suggestion of the North-Rhine/Westphalia national mediator was first accepted of the NGG and GateGourmet management, rejected of the TPG however. The Germany managing director of GateGourmet, Dietmar May, withdrew on 6 February 2006 because of differences with the gate Gourmet chief executive David seal over this course, he is responsible starting from summer 2006 for the Scandinavia business. Successor of May is Philippe OI de Beeck, it was so far among other things responsible for France and Holland. At GateGourmet work world-wide over 22.000 coworkers, in Germany over 500. The largest German GateGourmet branch is in Zeppelinheim at the Rhine Main airport Frankfurt main customer of GateGourmet is the airline LTU and their parent company, the German cheap airline dba (main owner Hans Rudolf the remaining portions holds the REWE group).

The Lufthansa daughter "LSG Sky boss" announced at the beginning of the strike to use the wage lowerings with its Konkurrentin GateGourmet as "bench mark" to lower with the goal, labor costs around 20%.

On 5 April 2006 LSG "Sky boss" and GateGourmet communicated to create for the at Paris airport the Charles de Gaulle Joint a venture company. For realization however still the permission of the European commission is necessary. Gate Gourmet France, seat Roissy CDG, was created 1999 and busily about 300 coworkers (conditions April 2006). Are manufactured over 3 million meals per year.

With TPG economically connected enterprises

(Conditions: January 2006, source: )

  • Bally management Ltd. (Shoes, leather goods), seat: Caslano, Tessin, Switzerland, since 1999
  • Denbury Resources Inc. (Oil among other things raw materials), Plano, Texas, the USA
  • Ducati engine getting thing S.p.A. (motorcycles, clothing), Bologna, Italy
  • J. Crew Group, Inc. (Textile retail trade), New York, NY, the USA
  • Metro Goldwyn Mayer Inc. (MGM) and MGM Pictures (Unterhaltungsindustrie), Los Angeles, California, the USA
  • Seagate Technology (electronic storage media)
  • ON Semiconductor (electronics)
  • Burger King (food)
  • PETCO (home animal food retail trade)
  • Continental Airlines (airline)
  • America west (airline)
  • Grohe Water Technology AG & CO. Kg (bath armatures), head office: Hemer
  • GateGourmet (flight Catering), seat: Zurich and Reston (the USA)

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