Priveq – new growth partner for Parfym.se

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Priveq

Parfym Sverige AB (“Parfym.se”), one of the largest online players within beauty in the Nordics, has chosen to incorporate Priveq Investment (“Priveq”) as a new growth partner. The founder and the current CEO will continue to be a part of the ownership group.

Parfym.se was founded in 2005 as an online challenger to traditional perfumeries. Today Parfym.se is one of the largest beauty e-tailers with three websites and operation in Sweden and Finland. The company offers a complete assortment within beauty – hair care, makeup, skincare and fragrances, with a brand portfolio including both strong international and local brands in different price segments.

“We are very pleased to team up with Parfym.se and contribute to the company’s continued growth journey. We have followed the company for a long time and are impressed by its strong market position and how it since the start of the company has managed to balance high growth with double digit profit margins in a highly competitive segment” says Maria Perez Hultström, Investment Manager at Priveq.

”Our team is looking forward to have Priveq as our partner – strengthening our continued development We are convinced that Priveq with its broad competence will contribute going forward and we are looking forward to an exciting future together” says Darko Drašković, CEO at Parfym.se.

“As founder of Parfym.se, I am pleased to bring in Priveq as partner. I am looking forward to, together with Priveq, continue the development that Parfym.se has had up until today” says Per Ejerhed, founder and former majority owner of Parfym.se.

For further information, please contact:

Maria Perez Hultström, Investment Manager, Priveq
Tel: +46 (0)70 928 01 42
maria.hultstrom@priveq.se

About Parfym.se
Parfym.se is a Nordic online player within beauty offering a complete assortment with over 200 established brands in different price segments. The company was founded in 2005 in Sweden and has since expanded to Finland and has become a favorite among the customers. Parfym.se operates three websites targeting different customer segments and has a turnover exceeding SEK 200m. The head office is located in Stockholm, Sweden.

Visit www.parfym.se for more information.

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Aurelius subsidiary GHOTEL Hotel & Living opens Hotel in OSNABRÜCK

Aurelius Capital

  • GHOTEL will operate the hotel under the Holiday Inn brand name
  • 30th Holiday Inn in Germany

Munich, May 29, 2019 – Hotel operator GHOTEL hotel & living (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), has opened a modern 4-star Holiday Inn hotel in Osnabrück, Germany. The hotel is operated under franchise for the InterContinental Hotels Group under the Holiday Inn brand, and is the 30th Holiday Inn in Germany. The new hotel is centrally located, close to the Osnabrück main railway station and just 33 kilometers from the Münster/Osnabrück airport. This four-star property has 158 modern guest rooms, three professionally fitted-out conference rooms and a spa area.

Mario Maxeiner, Managing Director Northern Europe, said: “Holiday Inn and Holiday Inn Express are strong brands in the midscale segment that are tremendous growth drivers for us, not just here in Germany, but Europe-wide. The two brands are so successful because we continually work to make them ever more attractive, for guests as well as owners. With the GHOTEL Group we are delighted to have another strong partner who is as committed to the Holiday Inn brand as we are.”

Jens Lehmann, CEO of the GHOTEL Group, added: “The Osnabrück Holiday Inn fits perfectly in our portfolio. With this property we are continuing our growth course and strengthening our partnership with IHG.”

 

ABOUT GHOTEL

GHOTEL hotel & living is an expanding hotel and apartment building chain with 14 properties in several cities in Germany including Kiel, Hanover, Göttingen, Koblenz, Munich, Würzburg, Essen, Ludwigsburg and Neckarsulm. These business hotels with modern conference rooms are marketed under the GHOTEL hotel & living and nestor Hotels brands, and the franchise brands Accor and InterContinental Hotels Group. Under the GHOTEL living brand, GHOTEL hotel & living also operates “temporary residence” apartment buildings in Bonn and Munich. GHOTEL hotel & living is headquartered in Bonn, and since December 2006 has belonged to the AURELIUS Group.

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Consortium led by EQT and ADIA enters exclusive negotiations to acquire skincare company Nestlé Skin Health

eqt

  • EQT and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) have partnered with a wholly owned subsidiary of the Public Sector Pension Investment Board (“PSP Investments”) and other renowned institutional investors
  • The consortium has entered into exclusive negotiations to acquire Nestlé Skin Health, a leading global skincare company
  • The new owners plan to support Nestlé Skin Health in its next period of growth and innovation by leveraging EQT’s strong healthcare expertise, local angles and industrial network

A consortium comprising EQT VIII fund (“EQT” or “EQT VIII”), Luxinva (a wholly-owned subsidiary of ADIA), PSP Investments and other renowned institutional investors, has entered into exclusive negotiations to acquire Nestlé Skin Health (NSH), a leading global provider of skin health products, from Nestlé S.A. (“Nestlé”) for an enterprise value of CHF 10.2 billion.

Founded in 1981 as Galderma and operating as a wholly owned subsidiary of Nestlé since 2014, Nestlé Skin Health is a leading skincare company offering a range of medical and consumer skin health solutions through three business units: aesthetics and prescription, both under the Galderma brand, and consumer health. The Group has a combined revenue of CHF 2.8 billion and employs more than 5,000 people worldwide. During the ownership of Nestlé, Nestlé Skin Health has operated as an independent business unit under the leadership of Stuart Raetzman, executing a clearly defined strategic agenda around growth and operational excellence.

The consortium around EQT VIII intends to support Nestlé Skin Health in its next period of growth and innovation, leveraging EQT’s long-term experience and industrial network. The strategy will build on the current direction taken by NSH’s management and focuses on accelerating growth further by building on the company’s strong market position and brands.

Priorities will be 1) to invest in commercial excellence and drive innovation in collaboration with health care professionals in the Aesthetics unit; 2) to continue investments in R&D and business development to strengthen the Prescription division and leverage its best-in-class commercial platform; 3) to increase presence in the US, launch new products and focus on international expansion in the consumer health business. The company will keep its headquarters in Switzerland and will be rebranded as Galderma.

The investment is in line with EQT’s thematic approach of investing with the trend in businesses with positive societal impact, advancing the progress of one or more of the United Nations Sustainable Development Goals (“SDG”). Nestlé Skin Health contributes to society by enhancing the quality of people’s lives and by contributing to a healthier future through science-based solutions for skin health. The consortium will support the Company to stay in the forefront of sustainability.

“We are impressed by Nestlé Skin Health’s management team and its achievement in positioning the company as a leading player across its three business units,” said Michael Bauer, Global Head of Healthcare at EQT Partners and Investment Advisor to EQT VIII and continues:

“The heritage of the company as a focused skincare company with a comprehensive product portfolio, exceptionally strong brands and high customer loyalty is unique. This growth investment opportunity fits well to EQT’s DNA of driving growth and making strong companies even stronger. We look forward to supporting the management team and employees of NSH in its next phase of growth and innovation by further promoting innovative skin health products that improve health and well-being.”

Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department at ADIA, said: “NSH is a leading global business with a well-balanced portfolio of dermatology products, targeting sizeable end-markets with strong underlying growth. This proposed transaction aligns with our approach of making strategic investments alongside proven partners to help strong, innovative businesses grow.”

Przemek Obloj, Managing Director at PSP Investments, concludes: “We are delighted to be partnering with EQT in this proposed landmark transaction and to support their compelling vision for continued growth of this unique portfolio of brands.”

The proposed transaction is subject to employee consultations and customary regulatory approvals.

Rothschild & Co and PricewaterhouseCoopers LLP acted as financial advisors to the consortium of EQT VIII, ADIA and PSP Investments. Kirkland & Ellis International LLP acted as legal advisor.


Contacts
Michael Bauer, Partner at EQT Partners, Investment Advisor to EQT VIII, +41 44 266 68 00
EQT Press office, +46 8 506 55 334


About Nestlé Skin Health
Nestlé Skin Health provides science-based solutions to meet the specific skin health needs of healthcare professionals, patients and consumers. It offers a range of leading medical and consumer brands through three complementary business units in prescription, aesthetics and consumer care. Headquartered in Lausanne, Switzerland, Nestlé Skin Health employs more than 5,000 people across 40 countries.

More info: www.nestleskinhealth.com 

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About ADIA
Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Through its extensive relationships across the industry, the Private Equity Department invests in private equity and credit products globally, often alongside external partners, and through externally managed primary and secondary funds. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies.

More info: https://www.adia.ae 

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with C$ 158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit www.investpsp.com or follow us on Twitter and LinkedIn.

More info: www.investpsp.com

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H.I.G. WhiteHorse Provides Growth Capital to Risparmio Casa

H.I.G. Europe

LONDON – April 29, 2019 – H.I.G. WhiteHorse, a credit affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management announced today that it has provided a growth capital solution to Risparmio Casa, a leading Italian drugstore chain based in Pomezia, Italy.

Established over 30 years ago by the Battistelli family, the company has exhibited strong growth and industry-leading performance with 2018 revenues in excess of 350 million Euros. Risparmio Casa operates over 100 locations with an average area of more than 2,500 sqm, resulting in a dominant presence in Northern and Central Italy and Sardinia. Its leadership is grounded on a commercial strategy of every-day affordable prices and a unique and broad product assortment, offering its customer base a wide range of personal care, household and non-food products.

With this transaction, H.I.G. will support the Battistelli family in continuing to strengthen the company’s leading position in the Italian drugstore industry and achieve its growth plans.

Guido Lorenzi, Principal at H.I.G. WhiteHorse, commented: “This transaction demonstrates H.I.G. WhiteHorse’s willingness to invest in and support leading Italian companies in cooperation with entrepreneurial families. H.I.G. is delighted to partner with Risparmio Casa and the Battistelli family, committing its resources, experience and network to support the next stage of growth of the company”.

Fabio Battistelli, co-founder of Risparmio Casa, commented: “We have built Risparmio Casa into one of the most established players in the Italian retail drugstore market and are looking forward to further consolidating our leadership position and strengthening our company”.

Stefano Battistelli, co-founder of Risparmio Casa, commented: “We welcome H.I.G. WhiteHorse into Risparmio Casa, which will be instrumental in supporting the next phase of our growth, building upon our existing strengths and value proposition”.

About H.I.G. WhiteHorse
H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital focused on providing flexible debt financing solutions to middle market companies in Europe and the United States. Operating a broad investment mandate, H.I.G. WhiteHorse provides unitranche, senior and subordinated debt capital for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. Credit facilities typically range from €10 million to €75 million for companies with revenues of €40 million or more. For more information, please refer to the WhiteHorse website at: www.higeurope.com/whitehorse.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Stamford, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contact:

Guido Lorenzi
Principal
glorenzi@higcapital.com

H.I.G. WhiteHorse
10 Grosvenor Street
London W1K 4QB
United Kingdom
P. +44 (0) 20 7318 5700
F. +44 (0) 20 7318 5749
www.higeurope.com/whitehorse

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GBfoods enters exclusive final negotiations with CVC Fund V to acquire Continental Foods

Continental Foods owns portfolio of iconic local consumer brands such as Liebig, Royco, D&L, Erasco and Blå Band.

GBfoods, a food company headquartered in Spain, announced today that it has entered into exclusive final negotiations with CVC Fund V following a firm offer made by GBfoods for the acquisition of the European group Continental Foods.

Continental Foods was established in 1933 as a division of the Campbell Soup Company and was acquired by CVC Fund V in 2013. With a turnover of around 400 million euros and a team of over 1,000 employees, it operates in five key European markets: Belgium, where also its HQ is located, France, Germany, Sweden and Finland. Continental Foods owns a portfolio of iconic local consumer brands such as Liebig, Royco, D&L, Erasco and Blå Band, among others, with a long heritage and brand awareness among consumers.

Commenting on the transaction, Ignasi Ricou, CEO of GBfoods, said: “GBfoods is delighted to have entered into exclusive final negotiations for the acquisition of Continental Foods. Continental Foods is a great group of very similar culture to GBfoods, complementary markets, local culinary brands, a long heritage and a great team.”

Steven Buyse, Partner at CVC Capital Partners, added: “We are proud of the transformation that the management team at Continental Foods has realised under CVC Fund V’s ownership. Continental Foods is a fantastic company and would be a great addition to GBfoods, who share the same passion for local brands.”

The GBFoods was advised by AZ Capital, PWC, and Clifford Chance. CVC Fund V was advised by UBS, ING and Cleary Gottlieb Steen & Hamilton LLP.

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C ITIC Capital Completes Acquisition of Leading Beauty E commerce Service Provider Hangzhou UCO Cosmetics, Ltd.

Citic Capital

([Hong Kong, 29 April 2019) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has completed the acquisition of Hangzhou UCO Cosmetics, Ltd., ( “UCO” or “the Company”) from Qingdao KingKing Applied Chemistry Co., Ltd (SZ:002094). This carve-out was completed in partnership with the existing UCO management team, who will continue to lead the Company in its next phase of growth. This is the seventh carve-out deals CITIC Capital has completed within two years (Note 1).
Established in 2010, UCO is a leading digital marketing and e-commerce service provider focusing on the beauty and personal care sector in China. Over the years, UCO has become an indispensable business partner for global and local brands, providing innovative, end-to-end digital solutions and best-in-class e-commerce services that enable the brands to build and grow their business online.

Hanxi ZHAO, Senior Managing Director of CITIC Capital, says: “The beauty sector is one of the fastest growing consumer sectors with e-commerce being the growth engine for many of the global and local beauty brands in the China market. UCO is known for its deep understanding of digital and e-commerce, innovative and technology-enabled solutions, and dedication in quality service. We are very excited to become the partner of Arthur and his talented and passionate management team to continue to build UCO as an instrumental player in the beauty eco-system.”

Arthur CHANG, founder and CEO of UCO, says: “UCO has always strived to be the ultimate, long-term business partner for global beauty brands in China. The management team is committed to continuing to innovate, provide best-in-class services and solutions for our customers, and create pleasant shopping experience for our consumers. With the support from CITIC Capital, we are confident that we will take UCO to the next level together.”

Haiwen & Partners served as legal counsel to CITIC Capital. Bank of China, acting as Mandated Lead Arranger, and China Merchants Bank as Joint Lead Arranger, provided acquisition financing to CITIC Capital and UCO.
Note 1: Recently completed carve-out deals include sauce maker Amoy Food, McDonald’s
business in Mainland China and Hong Kong, sexual wellness company LifeStyles, Wall Street
English, financial information database operator Global Marketing Intelligence Division,
leading supply chain pooling solution provider China Merchants Loscam.

About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital is an alternative investment management and advisory
company. The firm manages over USD25 billion of capital across 100 funds and investment
products through its multi-asset class platform covering private equity, real estate, structured
investment & finance, and asset management. CITIC Capital has over 160 portfolio companies
that span 11 sectors and employ over 850,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout
opportunities globally, has completed over 60 investments in the past years in China, Japan,
U.S. and Europe. The private equity arm currently manages USD7.3 billion of committed
capital.

For more information, please visit www.citiccapital.com.

For media enquiries, please contact:
Cindy TAM
Director, Corporate Relations
CITIC Capital Holdings Limited
Tel: +852 3710 6813
cindytam@citiccapital.com

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The Carlyle Group Acquires 10% stake in Chinese home textile company Luolai Lifestyle Technology

Carlyle

Shanghai, China – Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has acquired a 10% stake in Luolai Lifestyle Technology Co., Ltd., a home textile company in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship $6.55 billion Asia fund focused on buyout and strategic investments across a range of sectors in Asia Pacific.

Founded in 1992, Luolai is a top player in China’s home textile industry. The company engages in the research and development, design, manufacture and sale of home textile products. Over the past 20 years, Luolai has established a retail network with almost 3,000 stores across 31 provinces and cities in China. It operates under its own brands, such as LUOLAI and LOVO, and has acquired and served as an agent for approximately 20 brands. Luolai was listed on the Shenzhen Stock Exchange in September 2009 (SZSE stock code: 002293).

Jason Xue, President of Luolai, said, “We are delighted to partner with Carlyle and look forward to leveraging the advantages of its global network and deep industry experience. We will work closely with Carlyle to execute new business strategies, further expand and grow our online and offline businesses, and capture future growth opportunities in China’s home textile industry.”

Nina Gong, Managing Director of Carlyle’s Asia Buyout advisory team, said, “Luolai is China’s top home textile provider with a strong and complimentary brand portfolio with high-quality products and an extensive store network. We believe that rising disposable income in China and the ‘consumption upgrade’ process will continue to deliver healthy growth in the home textile industry and for Luolai. We will leverage our expertise and portfolio in the consumer and industrial sectors to help the company expand its store network, enhance supply chain efficiency and brand equity.”

As one of the first and most active international private equity investors in China, Carlyle has invested more than US$9 billion of equity in over 100 transactions in China as of December 31, 2018.

* * * * *

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $216 billion of assets under management as of December 31, 2018, Carlyles purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.

Press Contact:

The Carlyle Group

Tammy Li
Phone: +852 2878 5236
Email: tammy.li@carlyle.com

Citigate Dewe Rogerson

Linda Pui
Phone: +852 3103 0118/ +852 9700 0178
Email: linda.pui@citigatedewerogerson.com

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TPG-Led Consortium Invests in APM Monaco

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TPG Capital

HONG  KONG and BEIJING—17 April 2019 — TPG, a leading global alternative asset firm,  today announced that it has led a consortium of investors and reached a  definitive agreement to invest in APM Monaco (“APM” or “The Company”), a  leading contemporary jewellery brand, synonymous with the  chic of Monaco and South of France lifestyle. The brand originated in Monaco  and successfully grew a global footprint with a significant presence in Asia.  TPG and its partners will together acquire 30% of the company from its existing  shareholders. TPG is investing in APM through TPG Capital Asia, the firm’s  Asia-focused private equity platform. China Synergy is an investment platform  jointly set-up by TPG and CICC Capital, and Trail is a Paris-based European  private equity investment firm. The transaction is expected to close in a few  months. Additional terms were not disclosed.

“APM  Monaco’s team is proud and look forward to writing a new chapter of our brand  history. TPG Consortium is the ideal leading global partner to continue to  develop our contemporary luxury vision,” said Philippe Prette, founder and CEO  of APM. “TPG’s unique expertise in growing iconic brands and their belief in  our innovative products and business model makes them an excellent partner to  work with, and at the same time, China Synergy and Trail bring their respective  strengths in China and Europe. We look forward to the opportunities that lie  ahead of us as we expand domestically and globally optimizing our strengths  with their expertise while keeping the strong identity and values of the brand”.

APM started  as an original design manufacturer (ODM) for leading European distributors 37 years  ago. The Company relocated productions to China in 1992 and launched its own  jewelry brand APM Monaco 20 years later. Headquartered in Hong Kong, APM  combines contemporary luxury with fast retailing, two best-performing  categories, capitalizing on strong demand from an upcoming generation and  increasing lifestyle spending in China. With its in-house design experts, APM  is a pioneer in the fashion jewelry space with strong product innovation. By  the end of 2018, APM had approximately 200 stores in 26 countries.

“The  founders and management team of APM have successfully built a fashionable brand  that resonates well with consumers and has a loyal following. We are impressed  by the Company’s creativity, vision for the luxury industry, and values,” said  Chang Sun, Managing Partner, TPG China. “As investors, we are excited by the  opportunity to partner with dynamic entrepreneurs like Philippe to bring their  vision to the next level and look forward to working with the Company’s  management team to accelerate growth by leveraging our global resources. We are  also very happy to partner with China Synergy and Trail to accomplish this  deal.”

“This  is a perfect demonstration of the power of partnership,” said Ding Wei, CEO of  CICC Capital, “TPG, China Synergy, and Trail each contributes distinctive  competitive advantages and collectively bring irreplaceable value to the Company.”

“APM  Monaco’s transformation from a European company into an Asian-focused market  leader has been highly successful”, said Xavier Marin, Managing Partner of Trail.  “As the European member of the consortium, we are thrilled to partner with  Philippe and the whole management team to bring APM Monaco into the premier  global jewelry brand position.”

2019  marks TPG’s 25th year investing in Asia, since establishing its first  regionally-dedicated fund in 1994. Comprised of approximately 50 investment  professionals, the TPG Asia team pursues investments in a broad range of  industries, with a significant focus on consumer, financial services,  healthcare, and TMT/new economy.  Across  platforms, TPG has significant experience partnering with strong consumer  brands to build and scale their businesses. Select current and past investments  include Anastasia Beverly Hills, Cirque du Soleil, Ducati, Lenskart, Rodan +  Fields, and Viking Cruises, etc.

Natixis  acted as the exclusive financial advisor to APM Monaco on this transaction. LPA-CGR  and Paul Weiss acted as joint counsel of APM Monaco. Cleary Gottlieb Steen  & Hamilton acted as the legal advisor for the Consortium.

About TPG

TPG  is a leading global alternative asset firm founded in 1992 with more than $104  billion of assets under management and offices in Austin, Beijing, Boston,  Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow,  Mumbai, New York, San Francisco, Seoul, and Singapore. TPG’s investment  platforms are across a wide range of asset classes, including private equity,  growth equity, real estate, credit, and public equity. TPG aims to build  dynamic products and options for its investors while also instituting  discipline and operational excellence across the investment strategy and  performance of its portfolio. For more information, visit www.tpg.com.

About China Synergy

China  Synergy is an investment platform set-up jointly by TPG, the leading global  alternative asset firm, and CICC Capital. This platform targets investment  opportunities both in China and overseas that will benefit from the key trends  in the Chinese economy, underpinned by the sponsors’ strong cross-border  investment and business development capabilities.

CICC  Capital, a wholly owned subsidiary of China International Capital Corporation,  has become a leading private equity brand in China, and a significant player to  promote the transformation of Chinese economy.

About Trail

Trail is an independent European private equity investment  firm with over €750 million cumulated capital managed to date. With its two  strategic partners, Silk Road Fund and CICC, China’s preeminent investment  bank, Trail has set-up a first-of-its-kind investment platform across Europe  and Asia. Trail’s team helps high performing small and mid-size European  companies scaling up in size, scope and geographical boundaries with a specific  focus on China.  Trail is committed to  long-term, responsible and value-creating investment. It has three offices in  Paris, Luxembourg and Beijing.

 

Media Contacts

For TPG
Tracy Hu
thu@tpg.com

For CICC
Sherry Tan
tans@cicc.com.cn

For Trail
Christelle Alamichel
calamichel@gmail.com

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Ports Group acquires ABE Partners

Priveq

 

Ports Group, a market-leading total supplier of technology and services for management, monitoring and protection of brands and digital assets, has signed an agreement to acquire all shares in ABE Partners.

The acquisition is a part of Ports Group’s growth strategy and fortifies the company’s position in southern Sweden.

ABE Partners is a company operating in the same business area as Ports Group and offer their clients valuable domain name and trademark solutions.

For further information, please contact

Louise Nilsson

Partner & CEO

Phone: +46 8 459 67 63
Mobile: +46 70 950 95 50

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Ball Group sold to German private equity fund, and Axcel III can be closed

Axcel

Following a successful transformation of Ball Group, which produces and sells plus-size women’s clothing, Axcel has entered into an agreement to sell the business to a German private equity fund and can therefore close Axcel III.

With more than 100 concept stores in Northern Europe and the online platform zizzi.dk, Ball Group is among the fastest-growing brands in the international plus-size segment in Europe. The company posted revenue of just under DKK 600 million in the last financial year.

“The strategy has been to move from having several brands to being a focused retailer with its own stores and a significant online position. We’ve trimmed the business and focused on developing Zizzi, and we now have the right combination of an inviting store universe and a strong, fully integrated e-commerce platform. We’ve built a scalable business that has achieved 70% top-line growth over the last three years,” says Kuno Kildetoft, CEO of Ball Group.

“We’re working on being customer focused and have so far rolled out our international store and online universe in nine countries, primarily in Northern Europe. There has been high growth across channels, and we’ve been particularly successful in accelerating the development of our online platform. I’m now looking forward to seeing this positive development continue with the new owner and would like to thank Axcel for their help in bringing us so far,” Kuno Kildetoft finishes.

Asbjørn Mosgaard Hyldgaard, who has been responsible for the investment at Axcel since the standard sizes were divested in 2016, is also pleased with the management’s achievements and that new ownership is now in place:

“The fact that we’re now selling shows that we’ve been able to execute our plan to transform Ball Group into a leading player in the niche market for plus-size fashion. The results over the last three years are testimony to the outstanding job done by Kuno Kildetoft and his team, which has fully met our expectations. As owners, we’re very happy to see Ball Group continue its journey with its new owner and wish them all the best for the future.”

Ball Group is the 11th and final exit from Axcel’s third fund, which was established in 2005.

“It is with great satisfaction that we’re now closing Axcel III, which overall has been one of the stand-out performers among the European funds started in 2005,” says Christian Schmidt-Jacobsen, Managing Partner at Axcel.

Axcel and Ball Group were advised by Deloitte and Plesner.

About Ball Group
Ball Group was founded in 1988 as a privately owned company. In 2007, the business was purchased by the Danish private equity firm Axcel, which in 2016 decided to focus exclusively on the Zizzi brand, targeting the plus-size segment. Accordingly, the other brands were divested. The stores were run on a franchise model until 2018, when the remaining franchise stores were acquired by Ball Group.
Approximately 150 employees work at the company’s head office in Billund, Denmark.

About Axcel
Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Nordic and international investors. Axcel has raised five funds with total committed capital of jst over EUR 2.0 billion. These funds have made 53 platform investments, with almost 100 major add-on investments and 43 exits. Axcel currently owns 10 companies with combined annual revenue of around EUR 930 million and some 4,000 employees.

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