Hicks, Muse, Tate & Furst
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| LLC | |
| Industry | Private equity |
| Predecessor | Hicks & Haas (1984-89), Hicks, Muse & Co. (1989-94), Hicks Muse Tate & Furst (1994-2006) |
| Founded | 1984 |
| Founder | Tom Hicks, Robert Haas, John Muse, Charles Tate and Jack Furst |
| Defunct | 2013 |
| Headquarters | Dallas, Texas, United States |
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Key people
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John Muse, Co-founder |
| Products | Leveraged buyouts, Growth capital |
| Website | hmcapital.com |
HM Capital Partners was a private equity firm in the United States that specialized in leveraged buyouts. The firm was previously known as Hicks, Muse, Tate & Furst. It was founded in 1989 by Tom Hicks and John Muse as Hicks, Muse & Co. and was changed in 1994 to reflect the roles of Charles Tate and Jack Furst.
The son of a Texas radio station owner, Tom Hicks became interested in leveraged buyouts as a member of First National Bank's venture capital group. Hicks and Robert Haas formed Hicks & Haas in 1984; the next year that firm bought Hicks Communications, a radio outfit run by Hicks' brother Steven. (This would be the first of several media companies bought or created by the buyout firm that involved Steven Hicks.)
Hicks & Haas' biggest coup was its mid-1980s acquisition of several soft drink makers, including Dr Pepper and 7 Up. The firm took Dr Pepper/7 Up public just 18 months after merging the two companies. In all, Hicks & Haas turned an $88 million investment funding into $1.3 billion. The pair split up in 1989; Hicks wanted to raise a large pool to invest, but Haas preferred to work deal by deal. Robert Haas went on to form Haas Wheat & Partners a middle market private equity firm based in Dallas.
Hicks raised $250 million in 1989 and teamed with former Prudential Securities banker John Muse to form Hicks Muse. Early investments included Life Partners Group (life insurance, 1990; sold 1996). In 1991 Morgan Stanley's Charles Tate and First Boston's Jack Furst became partners.
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Wikipedia