- The Carlyle Group recently announced that it is partnering with former Domino’s Pizza CEO Patrick Doyle to buy established companies that have the opportunity for value creation
The Carlyle Group announced it has partnered with former Domino’s Pizza CEO Patrick Doyle to buy established companies that have the opportunity for value creation and revenue growth through technological transformation.
This partnership will focus on public and private companies with established brands and proven proven business models and an enterprise value of up to $10 billion as well as family businesses that can benefit from Carlyle’s resources and expertise.
“Patrick Doyle has a proven track record in driving revenue growth, brand recognition and shareholder returns through technological transformation,” said Carlyle Co-Chief Executive Officer Kewsong Lee. “We see untapped opportunity to work with established, proven businesses who want to do the same.”
Carlyle and Doyle are going to source opportunities internationally across sectors and will initially put an emphasis on the consumer and retail sectors in North America and Europe. As an executive partner, Doyle is going to work with Carlyle’s Head of Global Consumer, Media & Retail Jay Sammons. These two are bringing a unique view and focus on the convergence of consumer products, retail channels, and forms of media that influence consumer behavior. And together they will leverage the resources of Carlyle’s global investment platform and deep expertise across industries. Plus Doyle will contribute personal capital to each acquisition.
“Carlyle was the natural partner for this initiative, given their extensive global investment resources, unparalleled private equity expertise and holistic approach to value creation. Carlyle has a team of exceptionally talented people who recognize the opportunity to drive growth in companies through technology and advanced analytics. We believe this partnership will deliver meaningful returns and are eager to engage with companies that fit the strategy,” added Doyle.
Doyle had worked as CEO and President of Domino’s for nearly a decade as he joined the company in 1997. While CEO of the pizza giant, he transformed the brand by investing heavily in digital technology and prioritizing both consumer experience and shareholder return. And under his leadership, the company generated one of the highest shareholder returns in the market by increasing its share price more than 2,100% while returning $3.4 billion to shareholders. Plus Domino’s also doubled its market share to become the top pizza company in the world based on global retail sales.
“We are looking for established companies that consider technological and digital improvement a top priority but haven’t yet had the adequate resources or expertise to pursue this evolution of their businesses,” explained Sammons. “These companies will be our partners, working collaboratively to identify and harness the greatest opportunities, and then implementing the right teams, structures and systems to evolve their businesses and ultimately drive growth and value creation.”
Doyle also serves as the Lead Director on the board for Best Buy and has served on the board of G&K Services, Inc. and Business Leaders for Michigan. And Doyle holds an MBA from the University of Chicago and an economics degree from the University of Michigan.
The Carlyle Group has $223 billion of assets under management (as of June 30, 2019). And the investment firm’s mission is to invest wisely and create value on behalf of its investors.
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