The Carlyle Group
Global PE firm with healthcare, defense, and consumer investments
Brands Owned by The Carlyle Group (9)
Accenture Federal Services
Government & Defense Services
Carlyle Group acquired Accenture Federal Services for $2.5B in 2018 as a carve-out from Accenture. Provides IT and management consulting to U.S. federal government agencies.
Acosta Sales & Marketing
Logistics & Supply Chain
Carlyle Group acquired Acosta, one of the largest food and consumer goods sales agencies in North America, for roughly $3B in 2014. Acosta filed for Chapter 11 bankruptcy in 2019 with $3B+ in debt, affecting thousands of field sales employees.
Booz Allen Hamilton
Government & Defense Services
Carlyle Group acquired Booz Allen Hamilton's government consulting division for $2.54B in 2008. Booz Allen IPO'd in 2008 (NYSE: BAH). Remains one of the largest U.S. government IT contractors with $9B+ annual revenue from federal agencies.
Cengage Learning
Education
Apax Partners and OMERS Private Equity sold Cengage (formerly Thomson Learning) to various PE hands including Carlyle. Cengage filed for Chapter 11 bankruptcy in 2013 with $5.8B in debt, largely from its 2007 LBO. Students faced continued high textbook prices throughout.
Hertz
Hospitality & Travel
Carlyle Group, Clayton Dubilier & Rice, and Merrill Lynch PE took Hertz private from Ford for $15B in 2005. The highly leveraged deal contributed to Hertz's 2020 bankruptcy — one of the largest in U.S. history — with $19B in debt. Emerged from bankruptcy in 2021.
ManTech International
Government & Defense Services
Carlyle Group acquired ManTech, a federal IT and cybersecurity services provider, for $4.2B in 2022. ManTech provides mission-critical technology to U.S. defense agencies, intelligence community, and civilian agencies.
PPD (Pharmaceutical Product Development)
Pharmaceuticals & Life Sciences
Carlyle Group and Hellman & Friedman acquired PPD, a global contract research organization, for $3.9B in 2011. PPD was acquired by Thermo Fisher Scientific for $21B in 2021. CROs like PPD have faced criticism for prioritizing speed over rigor in clinical trials.
The Fresh Market
Grocery & Specialty Food
Carlyle Group took The Fresh Market private for $1.36B in 2016. The upscale grocer struggled with debt and competition from Whole Foods and Trader Joe's. Carlyle sold it in 2020 to a consortium led by Apollo after years of store closures and leadership turnover.
Veyance Technologies (Continental Tires)
Manufacturing & Industrial
Carlyle Group acquired Continental AG's power transmission and conveyor belt business for $1.9B in 2014, rebranding it Veyance Technologies. Sold back to Continental for $1.9B in 2015 after restructuring.