View source for 3i

{{Short description|British multinational private equity and venture capital company}}
{{about|the British financial company||3I (disambiguation)}}
{{redirect|ICFC|the European football competition|Inter-Cities Fairs Cup}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = 3i Group plc
| logo = 3i Group Plc logo.svg
| type = [[Public limited company|Public]]
| industry = [[Corporate finance]]
| former_name = {{Ubl
| Finance for Industry Public Limited Company (1973{{endash}}1983)
| Investors in Industry Group plc (1983{{endash}}1988)<ref name="CompaniesHouse">{{Cite web |date=1973-11-01 |title=3i Group plc overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/01142830 |access-date=2023-08-06 |website=[[Companies House]] |language=en}}</ref>
}}
| traded_as = {{ubl|{{lse|III}}|[[FTSE 100 Index|FTSE 100 Component]]}}
| ISIN = {{ISIN|sl=n|pl=y|GB00B1YW4409}}
| foundation = {{start date and age|1945}}
| founder = [[Bank of England]] and a syndicate of British banks
| location = [[London]], England, UK
| key_people = {{ubl| David Hutchison (chairman)|{{wd-ceo}}<ref>{{Cite web |url=https://www.3i.com/our-people/?business_line=7942| title=Our People | access-date=2021-02-19 }}</ref>}}
| services = {{ubl|[[Private equity]]|Infrastructure investment}}
| operating_income = {{decrease}} [[Pound sterling|£]]3,827&nbsp;million (2024)<ref name=results>{{cite web|url=https://www.3i.com/media/nnrkjwke/annual_report_and_accounts_2024.pdf|title=Annual Results 2024|publisher=3i|access-date=8 February 2025}}</ref>
| income_year = 
| net_income = {{decrease}} [[Pound sterling|£]]3,836&nbsp;million (2024)<ref name=results/>
| aum = £27.5&nbsp;billion (2024)<ref name=results/>
| net_income_year = 
| num_employees = c.250 (2024)<ref>{{cite web|url=https://www.3i.com/careers/why-join-3i/|title=Why join 3i?|publisher= 3i Group|access-date=11 February 2024}}</ref>
| num_employees_year = 
| website = {{Official URL}}
}}

'''3i Group plc''' is a British [[Multinational corporation|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==
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.<ref>The Times, 24 January 1945</ref>

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 buyout]]s, and expanded internationally.  In 1983 the company was renamed '''Investors in Industry''', commonly known as '''3i'''.<ref>The Times, 5 July 1983</ref>

'''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&nbsp;[[billion]].<ref>{{cite web|url=http://www.3i.com/about3i/history-of-3i.html|title=Our History|work=3i |access-date=15 March 2015|archive-url=https://web.archive.org/web/20130214211603/http://www.3i.com/about3i/history-of-3i.html|archive-date=14 February 2013|url-status=dead}}</ref>

==Operations==
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===
{{Columns-list|colwidth=30em|
*ACR Capital Reinsurance: 3i bought into this re-insurance business in 2006.<ref>[http://www.altassets.net/private-equity-news/3i-and-khazanah-lead-investment-in-acrs-620m-inaugural-private-placement.html 3i and Khazanah lead investment in ACR’s $620m inaugural private placement] Alternative Assets, 1 December 2006</ref>
*[[Action (store)|Action]]: in June 2011 3i bought a majority stake in this Dutch discount retailer.<ref>[https://web.archive.org/web/20110913074921/http://www.businessweek.com/news/2011-08-18/3i-proposes-preliminary-terms-for-loans-to-back-action-buyout.html 3i Proposes Preliminary Terms for Loans to Back Action Buyout] [[Bloomberg Business Week]] 18 August 2011</ref>
*[[Audley Travel]]: In December 2015 3i invested in Audley Travel, the lead operator in the tailor-made travel market.<ref>{{cite news |last=Ratcliffe |first=Madeline |title=3i hopes Audley Travel will take off with £159m investment|url=http://www.cityam.com/231305/equistone-exits-audley-travel-and-3i-steps-in-with-159m-investment |publisher=[[City AM]]| location=London |date=21 December 2015 |eissn=2516-5453}}</ref>
*[[BoConcept]]: Furniture company purchased in 2016<ref>{{cite web|url=https://www.3i.com/portfolio/boconcept/#|title=Portfolio: Boconcept|publisher=3i|access-date=13 November 2024}}</ref>
*ESP Utilities Group: In June 2017, 3i invested in ESP Utilities Group, one of UK’s largest and longest established Independent Gas Transporters (IGT) and [[IDNO|Independent Distribution Network Operators]] (IDNO).<ref>{{Cite web|title=About ESP|url=https://espug.com/about-esp/|access-date=2021-07-09|website=ESP Utilities Group|language=en-GB}}</ref>
*Formel D: In 2017, 3i invested €155 million in Formel D, a German car parts company, while [[CITIC]] invested €72 million.<ref name="cityamturvill">{{cite news |last=Turvill |first=William |title=UK private equity giant 3i sells stake in Barcelona-based funeral services company Memora |url=http://www.cityam.com/268572/uk-private-equity-giant-3i-sells-stake-barcelona-based |access-date=19 July 2017 |work=[[City AM]] |location=London |date=17 July 2017 |eissn=2516-5453}}</ref>
*[[George Best Belfast City Airport]]<ref name=Portfolio>[https://www.3i.com/portfolio?sector=&region=&business_line=2275&q= Portfolio] 3i</ref>
*[[Global Cloud Xchange]]<ref name=Portfolio/>
*[[Infinis]]<ref name=Portfolio/>
*Q Holding Co: 3i are due to purchase the company's three main operating businesses, Qure Medical, QSR and Quadra Tooling and Automation.<ref>{{cite web |url=http://www.crainscleveland.com/article/20141123/SUB1/311239982/sale-to-private-equity-firm-should-bolster-q-holding-co |title=Sale to private equity firm should bolster Q Holding Co. |date=20 November 2014 |publisher=Crain's Cleveland Business |access-date=2014-12-19}}</ref>
*[[Regional Rail, LLC|Regional Rail]]<ref name=Portfolio/>
*[[Scandlines]]: 3i purchased a 100% stake in November 2013, reduced to 35% in 2018<ref>[https://www.ft.com/content/d61b6dec-1bb3-11e3-94a3-00144feab7de 3i offers to take full control of Nordic ferry group Scandlines] ''[[Financial Times]]'' 12 September 2013</ref><ref>[https://web.archive.org/web/20191220115040/https://www.reuters.com/article/us-3i-group-divestiture-idUSKBN1H20XI 3i Group sells ferry operator Scandlines, buys backs stake] ''[[Reuters]]'' 26 March 2018</ref>
*[[Smarte Carte]], purchased 2017<ref>[https://web.archive.org/web/20201127053452/https://www.smartecarte.com/press/3i-announces-first-north-american-infrastructure-transaction-investment-smarte-carte/ 3i Announces First North American Infrastructure Transaction with Investment in Smarte Carte] [[Smarte Carte]] 16 October 2017</ref>
*[[TCR International]]<ref name=Portfolio/>
*[[Prometheus Global Media|VNU Business Media]], acquired 2006<ref>[https://www.reuters.com/article/uk-vnumedia-restructuring-sb-idUKTRE5721IN20090803 HG Capital secures stake in 3i-owned VNU Media] ''[[Reuters]]'' 3 August 2009</ref>
*Weener Plastic Packaging: in June 2015 3i announced an investment in Weener Plastic Packaging Group<ref>[http://www.3i.com/news/corporate-news/3i-invests-%E2%82%AC250m-weener-plastic-packaging-group 3i invests €250m in Weener Plastic Packaging Group] {{Webarchive|url=https://web.archive.org/web/20150607021222/http://www.3i.com/news/corporate-news/3i-invests-%E2%82%AC250m-weener-plastic-packaging-group |date=7 June 2015 }} 3i 4 June 2015</ref>}}

===Former investments===
{{Columns-list|colwidth=30em|

*[[Agent Provocateur (lingerie)|Agent Provocateur]] (80%), purchased 2007, sold 2017<ref>[https://web.archive.org/web/20220623132021/https://www.independent.co.uk/news/business/news/agent-provocateur-sold-to-private-equity-firm-3i-for-pound-60m-400593.html Agent Provocateur sold to private equity firm 3i for £60m] ''[[The Independent]]'' 16 November 2007</ref><ref>[https://web.archive.org/web/20170224155713/https://news.sky.com/story/3i-races-to-clinch-sale-of-struggling-agent-provocateur-10779173 3i races to clinch sale of struggling Agent Provocateur] ''[[Sky News]]'' 23 February 2017</ref>
*[[Boxer TV Access]] (30%) purchased 2005, sold 2008<ref>[https://web.archive.org/web/20220623133542/https://www.3i.com/media-centre/corporate-and-portfolio-news/2008/3i-divests-stake-in-digital-tv-operator-boxer/ 3i divests stake in digital TV operator Boxer] 3i 19 November 2008</ref>
*[[Chiltern Railways]] (26%) purchased 1996, sold 1999<ref>MBO preferred for Chiltern ''[[Rail Business Intelligence|Rail Privatisation News]]'' issue 32 13 June 1996 page 1</ref><ref>Last management buy-out rail franchise prepares to be sold ''[[Rail (magazine)|Rail]]'' issue 350 10 February 1999 page 11</ref>
*[[DNA Oyj|DNA]] (13%) purchased 2007, sold 2009<ref>[https://web.archive.org/web/20220623135748/https://www.3i.com/media-centre/corporate-and-portfolio-news/2009/3i-divests-interest-in-finnish-telecoms-operator-dna-oy/ 3i divests interest in Finnish telecoms operator DNA Oy] 3i 18 December 2009</ref>
*[[Dockwise]], purchased 2006, sold 2009<ref>[https://www.reuters.com/article/dockwise-listing-idUSLJ71484020091019 Dockwise to list in Amsterdam, 3i exits] ''Reuters'' 19 October 2009</ref>
*[[ERM (consultancy)|ERM]] (57%) purchased 2001, sold 2005<ref>[https://web.archive.org/web/20220623092523/https://www.theguardian.com/business/2011/may/15/erm-charterhouse-capital-partners Eco adviser ERM sold to Charterhouse Capital Partners] ''[[The Guardian]]'' 16 May 2011</ref>
*[[Eversholt Rail Group]], purchased 2010, sold 2015<ref>News in Brief ''[[Railway Gazette International]]'' December 2010 page 21</ref><ref>Eversholt sold ''[[Today's Railways UK]]'' issue 159 March 2015 page 14</ref>
*[[Foster + Partners]], purchased 2007, sold 2014<ref>[https://web.archive.org/web/20220623113400/https://www.architectsjournal.co.uk/news/fosters-once-again-wholly-owned-after-3i-buy-out Foster once again wholly owned after 3i buy-out] ''[[Architects' Journal]]'' 30 June 2014</ref>
*[[Freightliner Group|Freightliner]] (38%), purchased 1996, sold 2008<ref>Manager's bid wins Freightliner ''Rail'' issue 279 22 May 1996 page 6</ref><ref>Bahrain investment firm Arcapita buys Freightliner ''Rail'' issue 595 2 July 2008 page 19</ref>
*[[Giraffe World Kitchen]] (40%), purchased 2006, sold 2013<ref>[https://web.archive.org/web/20210223005233/https://www.3i.com/media-centre/corporate-and-portfolio-news/2006/3i-invests-in-giraffe-restaurant-chain/ 3i invests in Giraffe restaurant chain] 3i 23 October 2006</ref><ref>[https://web.archive.org/web/20210305230958/https://www.theguardian.com/business/2013/mar/13/tesco-buys-giraffe-child-friendly-restaurants Tesco buys child-friendly restaurant chain Giraffe for £50m] ''The Guardian'' 13 March 2013</ref>
*[[Go Fly|Go]], purchased 2001, sold 2002 <ref>[https://news.bbc.co.uk/2/hi/business/1388980.stm BA sells Go for £100m] ''[[BBC News]]'' 14 June 2001</ref>
*[[Great Western Holdings]] (25%) purchased 1996, sold 1998<ref>Wisconsin scoops freight as franchisees are chosen ''Railway Gazette International'' February 1996 page 69</ref><ref>Great Western Trains taken over by FirstGroup ''[[The Railway Magazine]]'' issue 1165 May 1998 page 11</ref>
*[[HSS Hire]], purchased 2003, sold 2007<ref>[https://www.theguardian.com/business/2003/dec/17/8 Davis offloads HSS tool hire to 3i] ''The Guardian'' 17 December 2003</ref><ref>[https://web.archive.org/web/20220623110114/https://www.3i.com/media-centre/corporate-and-portfolio-news/2007/hss-rejuvenated-and-sold-to-aurigo-and-och-ziff/ HSS rejuvenated and sold to Aurigo and Och-Ziff] 3i 13 June 2007</ref>
*[[Little Sheep Group]] (11%), purchased 2006, sold 2009<ref>[https://web.archive.org/web/20220623134822/https://www.3i.com/media-centre/corporate-and-portfolio-news/2009/3i-concludes-successful-partnership-with-little-sheep/ 3i concludes successful partnership with Little Sheep] 3i 25 March 2009</ref>
*[[Mayborn Group]], purchased 2006, sold 2016<ref>[https://web.archive.org/web/20220623204512/https://www.penews.com/articles/three-i-sells-mayborn-after-ten-year-holding-period-20160429 3i Sells Mayborn After 10-Year Holding Period] ''Private Equity News'' 29 April 2016</ref>
*[[Caterpillar Energy Solutions|MWM]], purchased 2007, sold 2010<ref>[https://web.archive.org/web/20160209233549/https://www.reuters.com/article/us-mwm-caterpillar-idUSTRE69L1IF20101022 Caterpillar buys 3i's engine maker MWM for $810 million] ''Reuters'' 22 October 2010</ref>
*[[NSL (company)|NSL]], purchased 2005, sold 2010<ref>{{Cite web |last=Webb |first=Quentin |date=21 September 2010 |title=Green light for sale of UK parking-ticket firm NSL |url=https://www.reuters.com/article/3i-nsl-idUSLDE68K16820100921 |url-status=dead |archive-url=https://web.archive.org/web/20220623200442/https://www.reuters.com/article/3i-nsl-idUSLDE68K16820100921 |archive-date=23 June 2022 |website=Reuters}}</ref>
*[[Petrofac]] (16%), purchased 2002, sold 2005<ref>[https://web.archive.org/web/20220623114341/https://www.3i.com/media-centre/corporate-and-portfolio-news/2005/3i-backed-petrofac-in-742m-flotation-on-london-stock-exchange/ 3i backed Petrofac in £742m flotation on London Stock Exchange] 3i 4 October 2005</ref>
*[[Salamander Energy]] (15%), purchased 2005, sold 2006<ref>[https://web.archive.org/web/20220623121336/https://www.3i.com/media-centre/corporate-and-portfolio-news/2006/3i-backed-salamander-energy-in-405m-ipo-on-london-stock-exchange/ 3i backed Salamander Energy in $405m IPO on London Stock Exchange] 3i 5 December 2006</ref>
*[[SLR Consulting]] (34%), purchased 2004, sold 2008<ref>[https://www.thetimes.com/uk/environment/article/3i-to-snap-up-share-of-slr-consulting-cc27ng0359j 3i to snap up SLR Consulting] ''[[The Times]]'' 8 March 2008</ref>
*[[Target Express]] (70%), purchased 2000, sold 2006<ref>[https://www.manchestereveningnews.co.uk/business/business-news/target-on-road-to-250m-float-1066259 Target on road to £250m float] ''[[Manchester Evening News]]'' 30 June 2005</ref>
*[[TelecityGroup]] (45%) purchased 1998, sold 2010<ref>[https://web.archive.org/web/20130618103649/http://3i.com/news/corporate-news/3i-divests-stake-telecity-group 3i divests stake in Telecity Group] 3i 11 February 2010</ref>
*[[Titan Airways]], sold 2013<ref>[https://web.archive.org/web/20220623094048/https://aviationweek.com/air-transport/safety-ops-regulation/titan-airways-management-buyout-completed Titan Airways' management buyout completed] ''[[Aviation Week & Space Technology]]'' 22 February 2013</ref>
*[[Tramlink]] (20%), purchased 1996, sold 2008<ref>Croydon Tramlink go-ahead ''Railway Gazette International'' September 1996 page 547</ref><ref>Croydon buy out ''Railway Gazette International'' April 2008 page 212</ref>
*[[Travellers Fare]] purchased 1989, sold 1992<ref>Travellers Fare ''The Railway Magazine'' issue 1055 March 1989 page 144</ref>}}

==References==
{{Reflist|30em}}

==External links==
{{Portal|Companies}}
*{{Official website}}
*[http://uk.finance.yahoo.com/q/pr?s=III.L Yahoo profile]

{{FTSE 100 Index constituents}}
{{Private equity and venture capital}}

{{Authority control}}

[[Category:3i| ]]
[[Category:Financial services companies established in 1945]]
[[Category:British companies established in 1945]]
[[Category:Financial services companies of the United Kingdom]]
[[Category:Companies listed on the London Stock Exchange]]
[[Category:Financial services companies based in London]]
[[Category:Private equity firms of the United Kingdom]]
[[Category:Venture capital firms of the United Kingdom]]
[[Category:Companies in the FTSE 100 Index]]