Brookfield Business Partners L.P. is a

publicly traded A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

limited partnership A limited partnership (LP) is a type of partnership with general partners, who have a right to manage the business, and limited partners, who have no right to manage the business but have only limited liability for its debts. Limited partnership ...

and the primary public vehicle through which

Brookfield Corporation Brookfield Corporation is a Canadian multinational company that is one of the world’s largest alternative investment management companies. It has over US$900 billion of assets under management, much of which is workers’ deferred incom ...

, its parent company, owns and operates the business services and industrial operations of its

private equity Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

group. It was formed through a spin-off from Brookfield Asset Management (now named Brookfield Corporation) in June 2016.

History

Its units trade on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; ) is a stock exchange located in Toronto, Ontario, Canada. It is the List of stock exchanges, 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in th ...

(BBU.UN) and

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

(BBU). Brookfield Business Partners is led by Chief Executive Officer Anuj Ranjan who joined Brookfield Asset Management in 2006, and leads its global private equity group, and is a managing partner of the parent company. Cyrus Madon, who joined Brookfield in 1998, is executive chairman. In 2016, the company made its first major acquisition, agreeing to acquire a 70% stake in Brazil's largest private water and sewage company, Odebrecht Ambiental, with the remaining 30% continuing to be held by Fundo de Investimento do Fundo de Garantia do Tempo de Servico. The company was renamed BRK Ambiental. In 2017, the company sold Maax, a bathroom fixtures maker, to American Bath for more than twice the value it acquired it for in 2008. In the first quarter of 2017, the company announced an agreement to acquire an approximate 85% stake in

Greenergy Greenergy International Ltd is a British distributor of petrol and diesel for motor vehicles and at one point had over a quarter of the UK market. It blends fuels at terminals on the Thames estuary in the south and on Teesside in the north. It s ...

, a supplier of road fuels in the UK, and an agreement to purchase

Loblaw Companies Loblaw Companies Limited is a Canadian retailer encompassing corporate and franchise supermarkets operating under 22 regional and market-segment banners (including Loblaws), as well as pharmacies, banking and apparel. Loblaw operates a private ...

' network of gas stations (which were rebranded afterwards to

Mobil Mobil Oil Corporation, now known as just Mobil, is a petroleum brand owned and operated by American oil and gas corporation ExxonMobil, formerly known as Exxon, which took its current name after history of ExxonMobil#merger, it and Mobil merge ...

under a franchise agreement with

Imperial Oil Imperial Oil Limited () is a Canadian petroleum company. It is Canada's second-largest integrated oil company. It is majority-owned by American oil company ExxonMobil, with a 69.6% ownership stake in the company. It is a producer of crude oil, ...

On April 6, 2018,

Toshiba is a Japanese multinational electronics company headquartered in Minato, Tokyo. Its diversified products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors ...

completed its sale of

Westinghouse Electric Company Westinghouse Electric Company LLC is an American nuclear power company formed in 1999 from the nuclear power division of the original Westinghouse Electric Corporation. It offers nuclear products and services to utilities internationally, includ ...

to Brookfield Asset Management, through its subsidiary, Brookfield Business Partners, and other partners. In 2018 the company also bought the automotive battery division from

Johnson Controls Johnson Controls International plc is an American, Irish-domiciled multinational conglomerate headquartered in Cork, Ireland, that produces fire, HVAC, and security equipment for buildings. As of mid-2019, it employed 105,000 people in arou ...

, including the

Varta VARTA (; ) is a German company manufacturing batteries for global automotive, industrial, and consumer markets. History VARTA was founded by in 1887, and established in 1904 as a subsidiary of Accumulatoren-Fabrik AFA. After World War I, ...

brand for car batteries and the Heliar, LTH, Optima, Delkor and MAC brands. In 2019, Brookfield Business Partners bought 45% of the company

BrandSafway BrandSafway is a construction and civil engineering company in the United States. BrandSafway has customers in 30 countries and has annual sales of 5 billion per year. The company provides Safety equipment to businesses around the world. They hav ...

. BrandSafway was valued at $6.7 billion at the time of the purchase. In October 2021, Brookfield announced that it would acquire

Scientific Games Light & Wonder, Inc., formerly Scientific Games Corporation (SG), is an American corporation that provides gambling products and services. The company is headquartered in Las Vegas, Nevada. Light & Wonder's gaming division provides products such ...

' lottery division for $6.05 billion. In April 2022, Brookfield acquired the auto dealer services company

CDK Global CDK Global Inc. is an American multinational corporation based in Austin, Texas, providing data and technology to the automotive, heavy truck, recreation, and heavy equipment industries. The company has 37 locations in 25 countries and its produ ...

for $6.41 billion. A cyberattack on CDK Global caused Brookfield's stocks to fall on 21st June 2024.

References

{{Authority control Brookfield Corporation Companies listed on the New York Stock Exchange Companies listed on the Toronto Stock Exchange Companies based in Toronto Canadian companies established in 2016