The Carlyle Group Acquires Minority Shareholding in Jeanologia, a Spanish Developer of Eco-Efficient Technologies for the Global Apparel & Textile Industry

Carlyle

Investment will support the company’s growth and continued development of disruptive sustainable technologies

London, Valencia – Global investment firm The Carlyle Group (NASDAQ: CG) today announced it has acquired a significant minority share in Jeanologia, a developer of eco-efficient technologies for the denim industry. Jeanologia has developed a strategic plan to significantly reduce the use of water and the production of toxic waste from the global textile industry within the next five years.

Equity for the transaction comes from Carlyle Europe Partners (CEP) V.  Carlyle acquired its shareholding from MCH Private Equity, who will retain a minority stake in the company.

Established in 1994 and headquartered in Valencia, Jeanologia is a fast-growing supplier of innovative and sustainable solutions for the denim industry. The company’s products offer cost-efficient, sustainable technologies which are transforming the denim manufacturing process by drastically reducing the water consumption and environmental impact of the processing step of the denim industry.

A rapidly-growing percentage of the 6 billion pairs of jeans sold annually are produced with the company’s sustainable eco-efficient technology, and this is expected to increase significantly in the near future.   Jeanologia has ambitious international expansion plans, which will also see its investment in R&D double in the next three years.

Enrique Silla, CEO of Jeanologia said: “The entire Jeanologia team is very excited about the partnership with The Carlyle Group.  Jeanologia has grown at a tremendous rate over the past 20 years during which we have become one of the largest providers of sustainable textile solutions, and a major contributor to the global denim industry.

“This partnership will help us work towards our aspirational goal of eliminating waste water in the textile industry by 2023, making the manufacturing of traditional blue jeans an industrial and technological standard.”

Alex Wagenberg, Managing Director, The Carlyle Group, said: “We are delighted to partner with Enrique’s accomplished team in a company that is transforming the manufacturing industry with a clean, efficient and environmentally-friendly production process.

“We look forward to supporting Jeanologia’s explosive growth through the development of their innovative product range and pipeline of future sales.”

* * * * *

Media Contacts:

The Carlyle Group
Catherine Armstrong
Catherine.Armstrong@carlyle.com
+44 20 7894 1632

The Carlyle Group Press Office Spain – Kreab

Oscar Torres / Clara Eguiagaray
Email: otorres@kreab.com / ceguiagaray@kreab.com
Mobile. +34 685 929 026 / 91 702 71 70

Jeanology – DosdeC

Casanova&Carbonell Comunicación
Rocío Casanova
Email: comunicacion@dosdece.com
Phone: +34 639 68 11 18

About Jeanologia

Since 1994 their mission has been to create an ethical, sustainable and eco-efficient industry through their disruptive technology and know-how. Their laser, G2 ozone and e-flow system have revolutionized the textile industry.  They offer infinite design possibilities and garment finishes, while saving water, energy and chemicals, eliminating waste and toxic emissions.

The Spanish company currently has clients in 5 continents.  The export of its machines and services represents 90% of its total billing, reaching 61 countries. The biggest market brands place their confidence in Jeanologia, using technology developed by the company.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with $216 billion of assets under management across 343 investment vehicles as of December 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America.

Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

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EURAZEO BRANDS announces investment in BANDIER Adrienne Lazarus Named Bandier CEO

Eurazeo

Paris, February 27, 2019 – Eurazeo, a leading global investment company with approximately €17 billion
in assets under management, is pleased to announce a minority investment in Bandier, a luxury, multibrand activewear retailer offering the latest trends in fashion and fitness. This funding marks the third
investment for Eurazeo Brands, the division of Eurazeo which focuses on differentiated consumer and
retail brands with global growth potential. Eurazeo Brands is investing $25 million in Bandier, in partnership
with company founders Jennifer Bandier and Neil Boyarsky, and venture capital firm C Ventures, led by
Adrian Cheng and Clive Ng. The total capital raised is $34.4 million. Bandier was advised by Ohana & Co.
on this investment.

Bandier was founded in 2014 by namesake Jennifer Bandier, a former music executive turned retail
entrepreneur. Jennifer founded the multi-label retailer with a mission to fill the white space of easily
accessible and stylish activewear product. The first Bandier store opened in Southampton, NY with an
experiential retail model. Today, the company has seven retail stores in key U.S. markets and a strong
e-commerce business which accounts for approximately half of the company’s revenue. Bandier also
operates Studio B, a boutique fitness location, and has a loyal following of nearly 300,000 fitness
enthusiasts.

“Our vision for Bandier is to be the premiere multi-channel platform for an active woman who loves fashion,
fitness and wellness” said Jennifer Bandier, Co-Founder and Chief Brand Officer. Neil Boyarsky,
Co-Founder and Chairman went on to say, “Eurazeo Brands’ retail expertise and global approach make
them the perfect partner for our next phase of growth.”

Eurazeo Brands aims to invest a total of $800 million in high potential U.S. and European consumer
companies with differentiated brands across a wide range of verticals including beauty, fashion, home,
wellness, leisure and food. In addition to funding, Eurazeo Brands will provide Bandier with proven brand
building, operational and industry expertise. The investment will be used to accelerate Bandier’s
omni-channel growth plan, increase customer acquisition, scale its digital footprint and continue building
a world-class team.

As part of its expansion plan, Bandier will enhance its executive team and add a seasoned CEO, Adrienne
Lazarus, to the company. Lazarus is highly regarded as a strategic and visionary leader in the fashion and
retail space. She is an accomplished executive with deep expertise in both vertical and multi-brand
businesses, and is credited with creating successful exit strategies in her last two roles as the CEO of Frye
and the President of Intermix. She also has a proven track record in brand building and is recognized for
being a catalyst for dynamic growth and innovation in her leadership roles at Ann Taylor and Loft.
Lazarus commented, “I am extremely excited to partner with Jenn and Neil to build the innovative Bandier
business. There is tremendous opportunity to bring Bandier to many more women who love a brand that
combines fashion, fitness and wellness. I also recognize the great opportunity to partner with Eurazeo, a
unique team of professionals with deep industry experience. I am confident that together we will make
Bandier incredibly successful.”

EURAZEO CONTACTS PRESS CONTACT
CAROLINE COHEN
Head of Investor Relations
email: ccohen@eurazeo.com
Tel: +33 (0)1 44 15 16 76
VIRGINIE CHRISTNACHT
Head of Communications
email: vchristnacht@eurazeo.com
Tel: +33 (0)1 44 15 76 44
HAVAS PARIS
AMELIE DE BOURBON PARME
email: amelie.debourbonparme@havas.com
Tel: +33 (0)6 09 01 68 25

For more information, please visit the Group’s website: www.eurazeo.com
Follow us on Twitter, Linkedin, and YouTube

Jill Granoff, CEO of Eurazeo Brands, added, “Bandier is at the forefront of the activewear movement
and is well positioned to gain meaningful market share in this fast-growing sector. By leveraging our
respective capabilities, we will drive product and digital expansion and become the destination for luxury
activewear globally.”

About Bandier
Bandier is a luxury, multi-brand, activewear retailer, offering the latest trends in fashion and fitness. Known for identifying emerging brands and for its meticulous industry edit, the company provides an incomparable shopping experience. Bandier is headquartered in New York, NY with five store locations in New York and Texas, two new flagships with Studio B fitness boutiques opening at Zero Bond in Manhattan and Melrose in Los Angeles, as well as an e-commerce shop with global distribution.

About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and Madrid.

o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

 

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NPM expands minority interest in SUITSUPPLY

NPM Capital

Private equity firm NPM Capital has strengthened its participation in Suitsupply by providing further growth capital. At the end of 2017, NPM Capital invested a first tranche, which allowed Suitsupply to open 25 stores and grow the organization.

Commercially, the company is developing well. Global sales have grown, particularly in the US and Asia. The Suistudio women’s line has been expanded with stores in Milan, Shanghai, Frankfurt and New York. Furthermore, Suitsupply is capitalizing on the casualization trend by offering more clothes that can be worn with a suit or a jacket. Digital development remains a spearhead, with an increasing symbiosis between the physical stores and the webshop. An example is the digital fitting room, where customers decide online what items should be ready for them in a fitting room.

The second tranche of growth capital that NPM Capital has provided will be used for the further development of the omnichannel retail concept, the conversion and restyling of existing stores and the opening of new stores, with a focus on China.

Read more NPM invests in Suitsupply’s growth

 

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L Brands announces sales agreement for La Senza

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Regent

Columbus, Ohio (Dec. 13, 2018) — L Brands, Inc. (NYSE: LB) today announced that following its previously announced comprehensive review process, it has signed a definitive agreement to transfer ownership and operating control of La Senza – inclusive of the home office organization, North American stores and e-commerce and international partnerships – to an affiliate of Regent LP, a global private equity firm.  The company will sell 100 percent of its assets in La Senza in exchange for the buyer’s agreement to assume La Senza’s operating liabilities and provide L Brands potential future consideration upon the sale or other monetization of La Senza, as defined in the agreement.  The company expects to complete the transaction and transfer ownership in early January.

Operating results for La Senza are included in the company’s Other segment for financial reporting. The company estimates that La Senza’s 2018 revenues and operating loss will be approximately $250 million and $40 million (approximately $0.12 per share), respectively.

L Brands was advised on the sale by Financo.

 

ABOUT L BRANDS:

L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,115 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are sold in more than 800 additional franchised locations worldwide.  The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

 

ABOUT REGENT:

Regent is a global private equity firm focused on innovating and transforming businesses. The firm’s mission is to create long-term value for its partners, the companies it invests in and the communities in which it works. Regent’s investments span the globe and operate in a wide array of industry verticals including technology, media, consumer products, industrial, retail and entertainment.

Selected investments include Sassoon, Sunset Magazine, Lillian Vernon and a media portfolio comprised of 18 newspapers, magazines and television platforms including Military Times, Army Times, Navy Times, Defense News, PBS TV’s Defense News Weekly, Federal Times and the HistoryNet Magazines. Regent is based in Beverly Hills, California.

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

For further information, please contact:

Regent LP:
Media Relations
Graydon Sheinberg
(310) 299-4108
gs@regentlp.com

L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com

Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com

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Care of Carl Partners with Litorina

Litorina

Litorina enters into a partnership with Care of Carl, the leading Nordic online retailer of well-known, classic high-quality brands within apparel, footwear and accessories for men. By partnering with Litorina, Care of Carl gets access to additional resources to continue its rapid development and expansion.

Care of Carl is based in Borås and was founded on the conviction that personal service, active engagement with and a genuine interest in the customer can facilitate and improve the daily lives of the customers. Care of Carl offers men the opportunity to build their personal wardrobe and style by offering a carefully curated selection of renowned brands online. The company has a turnover of c. SEK 220 million with an annual growth of more than 20%. Care of Carl has a loyal and growing customer base of style conscious men across the Nordics, who are served from the central warehouse in Borås.

As a result of the continuously growing demand for Care of Carl’s curated assortment, Henning Källqvist has chosen Litorina as partner to continue developing and growing the company. Litorina becomes the new majority shareholder and Henning Källqvist, who founded the company in 2010, remains as CEO of the company with a 30% ownership.

“Care of Carl has established an incredibly strong position in the market, but to capture all future opportunities, more resources and investments will be required. Litorina and I share both the view of our current position but more importantly the future strategic direction. I am convinced that Care of Carl will be able to reach even more customers who realise the advantages of shopping with us with our high service level which will result in even more rapid growth going forward”, says Henning Källqvist, founder and CEO of Care of Carl.

“Care of Carl is a first-class Swedish company with a leading market position in the Nordics within its niche, in the fast-growing online channel”, says Paul Steene, Partner at Litorina. “We are very pleased that Henning has chosen Litorina as his partner for the continued development of the company”.

“Litorina has a strong track record of investing in companies with sales of premium menswear following our investment in the premium men’s shirt company Eton. We also have experience from developing companies with international online sales, like online carpet retailer CarpetVista with customers in around fifty countries and online flower delivery company Euroflorist with business across Europe. We hope to be able to contribute with experience within these areas in the future development of Care of Carl”, says Magnus Ressel, Director at Litorina.

Litorina and Henning Källqvist share a clear agenda for how to jointly develop the company over the coming years, where focus will be on continuing the rapid expansion while continuing to offer a market-leading customer experience. To execute on this vision, Ian Tansley, former CEO of Mr Porter, will join the company as a member of the board and advisor.

For further information, please contact:

Magnus Ressel, +46 768 96 11 89, magnus.ressel@litorina.se, Director, Litorina
Henning Källqvist, +46 707 77 21 85, henning@careofcarl.com, CEO, Care of Carl

Care of Carl, founded in 2010, is a Nordic market leader within online retailing of premium apparel, footwear and accessories for men. The carefully curated assortment is sold through its proprietary e-commerce platform to customers across the Nordics. Care of Carl has a turnover of c. SEK 220 million and is headquartered in Borås. For more information, please visit www.careofcarl.com.

Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. For more information, please visit www.litorina.se.

 

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Adelis acquires Didriksons

Adelis Equity

Didriksons has grown significantly in recent years and strengthened its position as one of the leading brands for rain- and functional wear in Scandinavia. To support the continued growth journey of the company, Adelis Equity Partners is acquiring a majority stake in Didriksons from a fund managed by Herkules Capital. Management will continue in their present roles and as significant owners in the company.

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is a leader in Scandinavia within rain- and functional wear, and produces functional, durable and well-designed garments for women, children and men. The growth in recent years has been driven by expansion in new geographic markets and e-commerce. Didriksons is currently sold in more than 19 countries with a third of sales coming from online channels, and has a turnover of around SEK 500 million.

”Didriksons has gone through an expansive period, where we have successfully grown in the Nordics and internationally, through considerable investments in product development and a strengthened customer offering. We are pleased to have Adelis as a new majority owner to support us in the next step of our exciting growth journey. Adelis has a strong network and extensive experience of developing Nordic brands and consumer goods companies. This makes them a strong partner for us, which will be valuable when we continue to implement our growth strategy,” says Johan Ekeroth, CEO of Didriksons.

”With its strong brand offering based on functionality and timeless design, and its niche position within rain- and functional wear, we see strong potential for continued growth for Didriksons. We are impressed by the company’s management and the strong development in the Nordics and in other European countries. We are looking forward to supporting Didriksons’ growth and developing the company together with management,” says Lene Sandvoll Stern at Adelis.

In connection with the transaction Mats Hedblom, former CEO of Haglöfs, will join the new board of directors.

The parties have agreed not to disclose the terms of the transaction. The transaction is subject to customary regulatory approvals.

For further information:

Didriksons: Johan Ekeroth, johan.ekeroth@didriksons.com, +46 706 54 32 48

Adelis Equity Partners: Lene Sandvoll Stern, lene.stern@adelisequity.com, +46 702 81 34 24

About Didriksons

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is one of the leading brands in Scandinavia within rain- and functional wear for the entire family. Didriksons’ turnover is around SEK 500 million, and its products are sold in more than 19 countries with one third of sales coming from online channels. For more information please visit www.didriksons.com.

About Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 16 platform investments and making more than 40 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

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EQT acquires majority stake in Dunlop Protective Footwear

eqt

  • QT acquires majority stake in Dunlop Protective Footwear, the leading global manufacturer of protective wellington boots
  • Intention to support the global growth of Dunlop Protective Footwear, by enhancing its go-to-market approach in the US, driving expansion in underpenetrated and new geographies, and by fostering innovation and new product development
  • Gilde Equity Management, the current majority shareholder, will reinvest in the company and will remain a significant shareholder going forward
  • The existing executive team, led by CEO Allard Bijlsma, will continue to lead Dunlop Protective Footwear

The EQT Mid Market Europe fund (“EQT”) announces that it is acquiring a majority stake in Dunlop Protective Footwear (”Dunlop” or “the Company”) from its current owner Gilde Equity Management Benelux (“GEM”). GEM will remain a significant shareholder and will continue to support the growth plans of the Company in close cooperation with EQT and Management.

Dunlop is the leading global manufacturer of branded protective wellington boots, serving professionals in Agriculture & Fishery, Food processing, Industry and Oil, Gas & Mining. With over 500 employees, production sites in the Netherlands, Portugal and the US, and sales activities around the world, Dunlop serves customers in more than 50 countries.

EQT is excited to support the continued global growth of Dunlop, by enhancing the Company’s go-to-market approach in the US, driving expansion into underpenetrated and new geographies, and fostering new product development. Dunlop is expected to benefit from EQT’s deep sector expertise within tech and digitalization in its mission to further expand its e-commerce platform. EQT also intends to support Dunlop’s growth ambitions through add-on acquisitions.

Florian Funk, Partner at EQT Partners and Investment Advisor to EQT Mid Market Europe, comments: “EQT is honored by GEM’s trust and grateful to have been granted an exclusive process. This enables us to work together in the future and build on the impressive track record of Dunlop Protective Footwear. We regard this outcome as a testimony to our EQT brand value and acknowledged reputation to help high-quality companies unlock their full potential. We are very excited to join the Dunlop journey and to support the management team in accelerating its global growth ambitions going forward.”

Thijs van Remmen, Partner at Gilde Equity Management: “We have been a shareholder in Dunlop for many years and have supported the company through several phases of development. Starting by focusing Dunlop entirely on its niche of protective wellington boots, we then helped the company to steadily gain market share globally, including the step-change acquisition of competitor Onguard in the US. We believe the company is in a better position than ever to propel itself to the next level. That is why we will reinvest significantly and remain a shareholder in the company.”

Allard Bijlsma, CEO of Dunlop, adds: “Our Dunlop Protective Footwear company has a clear plan towards the future, in which driving comfort and protection for our end users is the central theme. With our Dunlop brand and our best in class product offerings, like Purofort, we are acknowledged as the innovation leader in our business. I’m delighted that the EQT team has joined us to support our global roll-out and thus being able to accelerate on our ambitions. I’m convinced that EQT can deliver great value to our business by making use of their global network of experts in virtually every field.”

The transaction is subject to customary conditions and regulatory approvals. It is expected to close in Q2, 2018. The parties involved have agreed not to disclose financial details of the transaction.

Contacts
Florian Funk, Partner at EQT Partners, Investment Advisor to EQT Mid Market Europe, +49 89 2554 99 504
EQT Press Contact, +46 8 506 55 334

About EQT
EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. 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 GEM
Gilde Equity Management (GEM) is an independent private equity firm in the Benelux with more than 30 years of experience and over EUR 1 billion under management through funds with a long-term investment horizon. Since 1996, GEM focuses exclusively on the Benelux mid-market segment and invests in international companies based in the Netherlands and Belgium.

More info: www.gembenelux.com

About Dunlop Protective Footwear
Dunlop Protective Footwear is the leading global manufacturer of protective wellington boots. In more than 50 countries worldwide, the Company provides comfortable and protective footwear to the workers in Agriculture & Fishery, Food processing, Industry and the Oil, Gas & Mining industry. Dunlop has more than 500 employees, three production sites in the Netherlands, Portugal and the US, and sales people around the world. Dunlop Protective Footwear is headquartered in Raalte, the Netherlands.

More info: www.dunlopboots.com

 

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Experienced online retail investor Verdane Capital invests in navabi

Verdane Capital

navabi, the global leader in plus size fashion, partners with Verdane Capital IX, the Nordic investor in online retail and technology enabled companies.

Verdane Capital IX has invested an 8-figure euro sum to fuel navabi’s ongoing growth. The investor is taking over all shares of Bauer Venture Partners, while investing an additional higher amount. All other previous investors – such as Index Ventures – remain on board in navabi. Verdane Capital is well-known in the online retail space, having invested in Boozt.com, known by some as the ‘Nordic Zalando’, which was successfully listed on the Nasdaq Stockholm Stock Exchange in 2017.

 

With the current financing, navabi has set the course for continued profitable growth and further expansion of its market leadership in the plus size segment. Today, two thirds of navabi’s sales go to the German home market, and the company plans to boost its international sales going forward, particularly in the UK, but also in other markets such as Scandinavia. navabi will further use the investment to emphasise technology development, as the company’s success is significantly based on their data and automation focus. Having achieved its goal of reaching profitability during a period of growth based on this data-driven strategy, navabi plans to further grow its in-house data science and artificial intelligence systems to better serve the needs of its international customer base. Data-driven merchandising will also continue to help navabi expand its popular range of own brands.

 

navabi’s investment strategy is focused on long-term healthy and profitable growth and working with fashion-experienced partners. Bahman Nedaei, co-founder of navabi, said: “We are delighted to partner with Verdane Capital IX who has strong roots in the fashion and online retail industry and who shares our vision of sustainable and profitable growth.” Co-founder Zahir Dehnadi added: “We think all women, irrespective of size, should be able to find beautiful and high quality clothes, and our goal is for navabi to become synonymous with plus size fashion. Buying clothes when you are plus size can be challenging but by understanding what our customers need and desire, we ensure that shopping at navabi is a truly enjoyable experience.”

 

The plus size market is experiencing sustained growth, as demonstrated by the 270% increase in Google searches for ‘plus size’ in Europe over the last five years. Verdane Capital IX is looking forward to contributing to navabi’s growth journey. “navabi has a dedicated and highly competent team, a great offering and a strong growth potential in an attractive niche. Combined with our experience and expertise in building online retail winners, we believe we have the perfect set-up for creating a global market leader in plus sized fashion,” explained Staffan Mörndal, Partner at Verdane Capital Advisors.

 

The navabi team is run by the founders Zahir Dehnadi and Bahman Nedaei from Germany, with an office in London, and is dedicated to the needs of stylish plus size women worldwide. The company sells the world’s largest selection of plus styles. Over 150 well-known labels such as Marina Rinaldi Sport and Levi’s can be found on the website. Further, navabi has successfully launched own brands which are growing strongly and already account for one third of the company’s sales. navabi is available in more than 30 countries, including Germany, the UK, France and the USA.

 

For further information, please contact:

 

Michaela Krause, m.krause@navabi.de or +49 172 65 32 544

Staffan Mörndal, staffan.morndal@verdanecapital.com or +46 70 93 15 235

 

About navabi

navabi is the global leader in plus size fashion. We curate and create the best and most inspirational plus size fashion collections and offer a ecommerce experience for our style savvy customers. More information can be found at: www.navabi.co.uk

 

About Verdane Capital

Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 29 employees working out of offices in Copenhagen, Helsinki, Oslo and Stockholm. More information can be found at: www.verdanecapital.com

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EQT sells CBR Fashion Group

eqt

  • EQT V to sell German based CBR Fashion Group to Alteri Investors
  • During EQT V’s ownership, CBR has developed from a fast fashion company to a multi-channel fashion business with a bespoke e-commerce platform achieving double-digit annual growth rates
  • Improved capital structure through successful bond issuance which significantly increases operational flexibility

EQT V today announced that it has entered into an agreement to sell CBR Fashion Group (”CBR” or “the Company”) to UK based Alteri Investors.

CBR is one of the top five women’s fashion manufacturers in Germany. It has over 1,200 employees and supplies more than 8,300 sales outlets in 19 European countries. It operates under two long-term established brands: Street One and CECIL. Since EQT V acquired the Company, it has significantly invested in the business and its IT, digital and logistic infrastructure. CBR has developed from a fast fashion wholesale retailer to a contemporary multi-channel women’s fashion provider with a strong e-commerce platform. With the introduction of an in-house retail business and e-commerce function, the Company is now present and well positioned throughout all important sales channels.

With a strategy of launching twelve new collections per year and a dedicated end customer focus, CBR successfully offers fashion at the right time and in line with ongoing trends. Thanks to efficient processes, stable relationships with wholesale partners and a steadily growing digital distribution channel, CBR is well positioned to capitalize on both online and offline sales opportunities.

Revenues for the last twelve months ending in June 2017 amounted to EUR 579 million. During recent years, CBR has shown a double-digit growth rate in the key e-commerce channel. In the fourth quarter of 2017, CBR significantly improved its capital structure through a successful bond issuance.

Matthias Born, CFO/COO of CBR, said: “Together with EQT, we have developed and professionalized our business model. Today, CBR is well positioned for the future in all important formats. We are prepared to meet the challenges within the fashion retail sector and committed to continue to strengthen our market positions.”

Marcus Brennecke Partner at EQT Partners, Investment Advisor to EQT V, added: “We are impressed by the focused business strategy Matthias Born, Jim Nowak and their team have implemented. CBR’s offering has been sharpened and today supplies contemporary women’s fashion through a strong multi-channel platform. CBR is well equipped for future growth.”

The transaction is subject to customary closing conditions and is expected to close during the first quarter of 2018.

Contacts:
Marcus Brennecke Partner at EQT Partners, Investment Advisor to EQT V +49 89 2554 9959
EQT Press Contact, +46 8 506 55 334

About EQT
EQT is a leading investment firm with approximately EUR 38 billion in raised capital across 25 funds. 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 CBR Fashion Group
Founded in 1980, CBR Fashion Group is now one of the major fashion manufacturers in the German mainstream women’s clothing market. With a broad geographical presence and two established brands, Street One and CECIL, CBR is one of the foremost suppliers of women’s fashion in Germany, employs over 1,200 people and is represented in 19 European countries.

More info: www.cbr.de

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NPM invests in Suitsupply’s growth

NPM Capital

Private equity firm NPM Capital has reached an agreement with Suitsupply regarding an investment in the company which will further accelerate the international expansion and online sales activities. Suitsupply currently operates 91 stores in 73 cities on 3 continents. More than 75% of sales are generated outside of the Netherlands, and almost 30% of sales occur online.

Suitsupply was founded in 1999 by Fokke de Jong, who still serves as CEO. De Jong started Suitsupply as a web-only store, and became an early adaptor to the omnichannel strategy when he opened a physical store in 2000. The company managed to score headline reviews with its groundbreaking concept of selling high quality semi-tailored suits at prices previously unheard of. The Wall Street Journal declared the quality to be similar to competitors which were selling at prices up to 6 times higher. In 17 years, the company has become a widely recognized brand in Europe, the US, and Asia. Suitsupply is active in the whole value chain; from design, sourcing, production, distribution to end-user sales, through a network of both physical stores and a webstore.

With the growth capital supplied by NPM Capital, Suitsupply will accelerate its growth even further. The company’s growth plan aims to open more stores worldwide, and renew a large part of the Dutch store portfolio. Suitsupply will expand its leading position in online sales through further investments in technology, aiming to strengthen the symbiotic relationship between sales in physical and online stores. Additionally, Suitsupply will invest in the recently launched women’s line, Suistudio. Suistudio has had a very promising start, and already has stores in Amsterdam, New York and Shanghai, in addition to a webstore.

NPM Capital sees Suitsupply as a promising company, which can grow even faster than it has been growing. Bart Coopmans, managing director at NPM Capital: “Suitsupply is one of the diamonds of Dutch entrepreneurship. Through its unique business model and disruptive approach, the company has realized an incredible expansion in recent years. The model has been proven in various geographies and is very scalable. Through its strong position in the value chain, the well-developed omnichannel sales proposition, and focus on the US and Asia, we see significant potential for further growth. We believe that our profile fits well with a company such as Suitsupply, and we are excited to provide Suitsupply with the growth capital it needs to realize its full potential”.

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