year

Year in Review

From portfolio activity to a growing team,
Berkshire Partners reviews its milestone 35th year.

Welcome

2021 – A Year of Growth
and Reflection

This past year marked Berkshire Partners’ 35th year investing in high-potential, growing businesses – a milestone that we find both humbling and energizing. While our firm had a productive year, we also reflect on the ongoing societal and business challenges of the pandemic’s persistent global impact. Rapidly evolving public health developments, uneven government responses, supply chain disruptions, and seismic shifts in workforces posed great dilemmas in 2021. Even so, we are very encouraged by the opportunities ahead. Our focus continues to be on building enduring value through relationships and teamwork – “winning the right way.” As we further evolve our models for partnering with one another and our management teams, we prioritize diverse perspectives and approaches.

We are proud of the exceptional efforts demonstrated by the teams at our portfolio companies. Over the last year, we deployed over $2 billion in seven new private equity investments and within the existing portfolio, and enjoyed a strong year for realizations. Our team also raised Berkshire Private Equity Fund X, our largest fund to date at nearly $6 billion. Stockbridge, our public equities business, continued to partner closely with private equity, particularly as we enhance our industry focus.

As we enter 2022, we are grateful for our relationships and thank you for your continued support and partnership as we look to our future.

This past year marked Berkshire Partners’ 35th year investing in high-potential, growing businesses – a milestone that we find both humbling and energizing. While our firm had a productive year, we also reflect on the ongoing societal and business challenges of the pandemic’s persistent global impact. Rapidly evolving public health developments, uneven government responses, supply chain disruptions, and seismic shifts in workforces posed great dilemmas in 2021. Even so, we are very encouraged by the opportunities ahead. Our focus continues to be on building enduring value through relationships and teamwork – “winning the right way.” As we further evolve our models for partnering with one another and our management teams, we prioritize diverse perspectives and approaches.

We are proud of the exceptional efforts demonstrated by the teams at our portfolio companies. Over the last year, we deployed over $2 billion in seven new private equity investments and within the existing portfolio, and enjoyed a strong year for realizations. Our team also raised Berkshire Private Equity Fund X, our largest fund to date at nearly $6 billion. Stockbridge, our public equities business, continued to partner closely with private equity, particularly as we enhance our industry focus.

As we enter 2022, we are grateful for our relationships and thank you for your continued support and partnership as we look to our future.

Portfolio Activity

In 2021, we partnered closely with our management teams to drive significant growth across our private equity portfolio, both organically and through acquisition.

Our 32 private equity portfolio companies completed more than 50 add-on acquisitions representing over $2.5 billion in enterprise value. We also had noteworthy realization activity, with both full and partial exits. We are pleased to continue working with our teams to help world-class businesses achieve their potential. See a few highlighted transactions here.

Comlinkdata Acquired Opensignal 

Masergy Acquired by Comcast Business

Parts Town Acquired The REPA Group

National Carwash Solutions Acquired Zep Vehicle Care

Teraco Acquired by Digital Realty

3Phase Elevator Completed Ten Acquisitions 

VetStrategy Merged with IVC Evidensia

Portillo’s [PTLO] completed its initial public offering in September 2021, and the team enjoyed the opportunity to ring the Nasdaq closing bell.

Play Video

Our Team

The Power of Teams

In 2021, we continued to expand our team and congratulate our five newly promoted Managing Directors. We also expanded our network of advisors which sources new investments and advises our portfolio companies informally, and often formally as board members, to further enhance our ability to add value for all our stakeholders.

Visit our Team Page

The country’s ongoing discussions about racial justice provide welcome attention and momentum around diversity, equity, and inclusion in the workplace. In 2021, we supported our portfolio companies’ intentional efforts as they added board members and operating talent with extra attention to increasing diversity of all forms. We know as investors the impact of thoughtful governance and leadership on the tens of thousands of employees across our portfolio. We believe that diverse perspectives yield better judgments and that inclusive cultures are a key contributor to forward-thinking workplaces. Internally at Berkshire, 2021 was a year of continuing to learn, examining opportunities to improve, and recommitting ourselves to further progress.

New Berkshire Partners Managing Directors

Justin Hupp

initially joined Berkshire Partners in 2009 as a private equity associate and has been with Stockbridge since returning from business school in 2013.

Jon Nuger

joined Berkshire Partners in 2012 and is a leader on the technology team focused on private equity investments.

Terry Thompson

is the firm’s Chief Operating Officer and joined Berkshire Partners in 2020.

Josh Johnson

is a leader on the communications and digital infrastructure team within the firm’s private equity business; he first joined Berkshire Partners in 2008.

Nii Amaah
Ofosu-Amaah

initially joined Berkshire Partners in 2006 and his role currently spans both business development and investor relations.

Our Impact

Making an Impact

Commitment to citizenship is a foundation of our culture and a key driver of our success. In 2021, we continued our long-standing support of the Boys & Girls Clubs of Boston, the Pan-Mass Challenge, and JDRF through Reach the Beach. The Boys & Girls Clubs remains committed to providing children and teens – especially those who need the most support – with a reliable and nurturing place to learn, grow, and explore opportunities, just as it has for nearly 130 years. We have enjoyed a decade-long relationship with the Pan-Mass Challenge, an annual Massachusetts bike-a-thon with 100% of every rider-raised dollar donated directly to cancer research and treatment at Dana-Farber Cancer Institute. Berkshire has raised more than $7 million since fielding its first official team in 2011 and annually has a large team of riders and volunteers participate. Our Reach the Beach teams, comprising both Berkshire employees and many other friends of the firm, supported JDRF for the eighth straight year. Our Associates also continue to lead fundraising and volunteer efforts for Access Better Learning and Education (ABLE), which helps Boston’s at-risk students graduate from high school through mentorship and financial support.

Read More about our Impact

We are also proud that our portfolio companies support their communities. View the video to see just a few highlights.

[3:04 PM] Brianna Meese

Learn more about Berkshire Partners

Visit Main Website