Ardian enters exclusive discussions for the sale of its stake in Bricoprivé.com

Ardian

Paris, 28 March 2018 – Ardian, a world-leading private investment house, today announces that it has entered into exclusive discussions with Florac Investissements to sell its stake in Bricoprivé.com, the leading private sales website for DIY, gardening and home improvements products. As part of the sale, the founders, Julien Boué and Marc Leverger, are reinvesting in the Company.

Founded in Toulouse in 2012, Bricoprivé offers a wide range of professional-quality products at affordable prices. This positioning, coupled with its founders’ significant expertise, has enabled the Company to achieve rapid and profitable growth, with revenues increasing fourfold from €28 million in 2015 to provisionally €100 million in June 2018. Since Ardian’s investment Bricoprivé has opened in three international markets (Spain, Italy and Portugal) and acquired two companies with complementary activities (Racetools and Noova) in 2017, all the while continuing to grow its core offering.

Ardian made its first investment in June 2015 and financed a second transaction in June 2016 to support the company’s strong growth.

Julien Boué, Co-Founder of Bricoprivé.com, said: “This deal is the logical continuation of Bricoprivé’s development. We have strengthened the company by developing its expertise and digital and logistical tools, started internationalisation and overcome the challenges of external growth. The success of our strategy has enabled us to achieve revenues of €100 million sooner than anticipated, which has generated requests from various stakeholders, leading the way to a natural next stage of our growth.”

Marc Leverger, Co-Founder of Bricoprivé.com, added: “We are pleased to welcome Florac as shareholders in Bricoprivé. This deal supports our continued ambitious growth. We would like to thank Ardian for its support during what have been key moments of our development, enabling us to reach significant milestones of growth. We are happy that Ardian will be by our side for the new stage of our development.”

Laurent Foata, Head of Ardian Growth, added: “The founders of Bricoprivé have managed to create a leading company and have reached a significant size in just five years, desptive a very competitive market. Their entrepreneurial talent has made all the difference and we are happy to support a deal which will allow Marc and Julien to continue the company’s growth.”

Romain Chiudini, Director at Ardian Growth, added: “We are happy to have supported Bricoprivé’s ambitions. The company was able to embark on a impressive growth trajectory through the rapid implementation of a shared strategy and the quality of its management team.”

LIST OF PARTIES INVOLVED

Ardian: Laurent Foata, Romain Chiudini
Bricoprivé: Marc Leverger, Julien Boué
Financial adviser (Seller): Rothschild Transaction R (Pierre Sader, Benjamin Osdoit, Romain Galven)
Legal Adviser: Jones Day (Renaud Bonnet, Florent Le Prado)
VDD: Eight Advisory: Christophe Delas

ABOUT BRICOPRIVÉ.COM

Created in October 2012 in Toulouse and managed by Julien Boué and Marc Leverger, Bricoprive.com is the first website for private sales dedicated to DIY, gardening and home improvement.
As a major player in e-commerce in the DIY sector in France, Bricoprive.com organizes private sales for its 3 million members for the sector’s main brands (Facom, Legrand, Caterpillar, AEG Powertools) in three different product ranges: DIY, gardening, home, professional textile, car/motorcycle and high tech.
In agreement with these brands, Bricoprivé organizes 7 to 8 private integrated sales daily (logistics, customer service, webmarketing, sales…) on all their overstock and end-of-life products.
Regarded as a central sales hub (4 logistics platforms in France, commercial coverage across the country), with its community of highly targeted members the website also represents an excellent communications platform for brands.
After 3.5 years of very strong growth, nearly 55 million euros in volume of business over the last 12 months and the recruitment of 105 employees, Bricoprivé begins a new stage of its development with the opening of its sites in Italy and Spain.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$67bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 490 employees working from 13 offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of about 700 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

PRESS CONTACTS
ARDIAN
Headland
CARL LEIJONHUFVUD
cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827

 

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Bygghemma has been listed on NASDAQ Stockholm

Fsn Capital

Bygghemma Group First AB (“Bygghemma” or the “Company”) – a portfolio company of FSN Capital IV, FSN Capital V and FSN Capital Project Growth – was listed on March 27th, 2018 on Nasdaq Stockholm. The initial public offering (the “IPO”) attracted very strong interest both from Swedish and international institutional investors as well as from the general public in Sweden. The offering was heavily oversubscribed.

Bygghemma Group First AB (“Bygghemma” or the “Company”) – a portfolio company of FSN Capital IV, FSN Capital V and FSN Capital Project Growth  – was listed on March 27th, 2018 on Nasdaq Stockholm. The initial public offering (the “IPO”) attracted very strong interest both from Swedish and international institutional investors as well as from the general public in Sweden. The offering was heavily oversubscribed.

The offering price in Bygghemma’s IPO was set at SEK 47.50 per share, which was in the middle of the communicated IPO range of SEK 45 – 50 per share. Assuming full exercise of the over-allotment option, the IPO will comprise 33.9m shares, corresponding to a total value of the IPO of approximately SEK 1.6 billion and 32 percent of the total number of shares outstanding. The FSN Capital Shareholders will hold approximately 50 percent of the shares after the IPO, assuming the over-allotment option is exercised in full. The market capitalization of Bygghemma at IPO was SEK 5.1 billion.

The cornerstone investors, Arbejdsmarkedets Tillægspension (ATP) and Creades, acquired 5,263,157 shares in the Offering, corresponding to SEK 250 million.

Mikael Olander, President and CEO of Bygghemma Group comments: ”We are very happy about the large interest that has been shown during the listing process for Bygghemma Group and our strong position as the superior online provider of home improvement products in the Nordic region. We are looking forward to continue to grow and develop the company, now in a listed environment.”

Henrik Theilbjørn, Chairman of the Board of Bygghemma Group says: “Bygghemma Group has established a leading Nordic platform and has great potential for both substantial organic and acquisition-driven growth and improved results in the coming years. The company targets a large and attractive market under digital transformation where it has a clear online market leadership. We are looking forward to continue to create value in a listed environment and welcome all new shareholders to follow us into the exciting future of Bygghemma Group.”

Peter Möller, Partner, FSN Capital Partners (investment advisor to the FSN Capital Shareholders): “Bygghemma Group operates on a fast-growing market where it has established a strong position as the leading online provider of home improvement products in the Nordic region. Over the last years the company has implemented several important strategic initiatives, made add-on acquisitions and improved its market position. We look forward to continue supporting the company and participate in the development of Bygghemma Group, now in a listed environment.”

Bygghemma has been listed on NASDAQ Stockholm

About Bygghemma Group
Bygghemma Group is the leading online provider of home improvement in the Nordic region . The Company offers its customers a broad  product assortment at competitive prices with convenient home delivery. Sales are predominantly made online and most orders are delivered directly from the supplier to the end customer.

During 2015-2017, net sales grew by a CAGR of 44 percent, with an improvement in adjusted EBITA margin from 2.5% in 2015 to 5.0% in 2017. In 2017, Bygghemma Group reported net sales of SEK 4.0 billion and adjusted EBITA of SEK 197.0 million, corresponding to an adjusted EBITA margin of 5.0%. Pro forma net sales for 2017 (which includes acquisitions completed during 2017) amounted to SEK 4.4 billion.

Since inception in 2006, Bygghemma Group has expanded its product offering, made significant operational investments and broadened its geographical presence in Sweden, Finland, Norway and Denmark. As of 1 January 2018, the Company’s webstores are supported by 72 showrooms, customer.

 

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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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VALEDO invests in PINCHO NATION

Valedo

Valedo Partners III AB (“Valedo”) has invested in the restaurant chain Pincho Nation AB (”Pinchos”) alongside its founders, key employees and board of directors. With Valedo as a new majority owner, Pinchos will benefit from increased resources in the form of competence and capital to realize and accelerate the Company’s long-term growth and development plan.

Pinchos is a unique app-based restaurant concept, offering a broad menu of appetizers drawing inspiration from all over the world, including dishes such as Spanish quesadillas, Asian dumplings, Hungarian stake, French crème brûlée, and beverages such as mojitos, sangria, beer, and playful drinks in all the colors of the rainbow. The Company, founded in 2012 by Magnus Larsson, Jessica Ekelöf Larsson, Fredrik Mattsson and Johannes Räfsby, has grown significantly during the last years with approximately 45 units established in Sweden and Norway as of today. In 2017 alone, 17 new units were added to the chain and the Company plans to open more than 20 new units during 2018.

“Pinchos has during the last few years had a fantastic growth and development, and it is obvious that consumers really appreciate our unique concept and atmosphere. As a founder and leader of the business, I am very enthusiastic about accelerating the development further with the support of Valedo as a partner, alongside our motivated and competent employees. Valedo will contribute with important competence and financial resources to enable our next step in the strategic journey of Pinchos.” says Magnus Larsson, CEO of Pinchos.

The terms and conditions of the transaction are not disclosed.

For further information regarding Pinchos, please contact:

Magnus Larsson, CEO
magnus.larsson@pinchos.se

About Valedo:
Valedo is an independent Swedish investment group that invests in high-quality small and mid-cap companies in the Nordic region. Valedo focuses on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributor of both capital and industrial experience, Valedo helps to ensure that its companies can achieve their full potential. Valedo has completed 24 platform investments and more than 100 add-on acquisitions. Valedo’s businesses have a combined revenue of SEK ~4 500 million with ~3 300 employees in more than 20 countries. Valedo’s exited businesses have on average grown by ~250% during Valedo’s ownership.

www.valedopartners.com

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LPCA Fund I has divested its shares in the Dutch retail chain Kijkshop

listérus & partners Capital Advisors acquired the Dutch retail chain Kijkshop B.V. during the first quarter of 2015. During 2016, the asset was internally transferred to LPCA Fund I.

Kijkshop is operating in a rapidly changing market and is undergoing a turnaround and digital transformation process. The work with the change has required significant efforts from the owner’s side – both on an operational level and financially – and will still require a dedicated engagement during the foreseeable future.

In order to enable for new investments in the fund and release management capacity for the development of the future portfolio, 100% of the shares held in Kijkshop and its sister companies Kijk IP BV, Kijk UP BV and TONE BV were divested to the Swedish investment company SparkistanStClemens AB during September 2017.

The Board of the fund made the assessment that SparkistanStClemens has all the required resources at its disposal to successfully manage and further develop the investment in Kijkshop.

In conjunction with the divestiture, Björn Serving resigned from his engagement for listérus & partners Capital Advisors and as an investment manager at LPCA Fund I. He is now engaged by SparkistanStClemens in their subsidiaries.

For any enquiries, please contact Christian Listérus, christian@listerus-capital.com, Tel: +46-8-5090 6660.

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Verdane sells Outnorth to Egmont

Verdane

Verdane Capital VII has agreed to sell its holding in Outnorth, the leading online retailer of outdoor products and apparel in Scandinavia, to the Nordic media group Egmont.

Founded in 2005, Outnorth is an online retailer of outdoor products and apparel, focused on high-quality Scandinavian brands and private label products that represent good design and functionality for an active outdoor lifestyle. Verdane Capital VII (Verdane) made its first investment in the company in 2010.

“We saw the potential for Outnorth in a Scandinavian market fuelled both by a shift in Scandinavian lifestyle trends, and the transition in retail from offline to online, creating demand for high-quality products delivered through an easy-to-use online trading and logistics platform,” says Staffan Mörndal, Partner at Verdane Capital Advisors.

Since Verdane’s investment, Outnorth has grown from its Swedish base to become an online market leader in Scandinavia, and with significant sales in Germany. In 2017, the company had revenues of SEK 430 million, representing a 20x growth compared to 2010.

Today, Verdane announced that it has entered into an agreement to sell its holding in Outnorth to existing shareholder and leading Nordic media group, Egmont.

“We are proud to have been part of Outnorth’s journey together with the company’s excellent employees, management team and other owners. Outnorth is well-positioned for future growth, both in Scandinavia and in other important growth markets, and we look forward to following the company in the years to come,” says Mörndal.

The Nordic sports market is estimated to around EUR 10 billion, with an online market share of around 25%. Outnorth has been instrumental in developing the online category in the Nordics.

“Backed by Verdane and the other owners, we have refined our online offering, logistics and go-to-market models, including the successful development of our portfolio of private label products. This have put us in a sweet spot as the leading online retailer of outdoor gear and apparel in Scandinavia, with a great growth potential in the region and beyond. We are looking forward to our next phase of growth together with Egmont,” says Lars Nykvist, CEO of Outnorth.

 

For further information, please contact:

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

Lars Nykvist, CEO Outnorth, lars.nykvist@outnorth.com +46 76 836 29 90

 

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

 

About Outnorth

Outnorth is working to inspire more people to explore and enjoy outdoor life. We do it by offering the best products from and for Scandinavia, based on knowledge and experience. We are Scandinavia’s leading online retailer in outdoor products and have clothing, shoes and equipment for outdoor activities and training. For more information, visit: www.outnorth.com

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Diam Group refinances its debt

Ardian

Paris, 9 January 2018 – DIAM Group, the world leader in merchandising for luxury retail and cosmetics, today announced that it has refinanced its bank and bond debt that was arranged in September 2016 following the acquisition by Ardian, its management team and BNP Développement. Financing for the acquisition was provided by BNP Paribas, CIC, Société Générale, Banque Palatine and OFI ZenCap.

The newly-raised financing is structured around a bank debt with three tranches (Term Loan A, Term Loan B, Term Loan C) in addition to a capex line, an acquisition line and a revolving credit facility. Alongside its existing financing partners, the Group is delighted to welcome three new institutional lenders: Aviva, Allianz and Banque International à Luxembourg.

Michel Vaissaire, CEO of DIAM Group, said: “This accretive transaction for the management gives DIAM a strong financing structure to continue its growth. We have been investing heavily for several years, both at an organic level, adding two to three greenfields to our portfolio per year; and through acquisitions, three of which have taken place over the last two years. Strengthening our pool of financial partners in this high-growth environment is therefore key to reinforce our strategic agility.

With the continued support of the Ardian team, led by Arnaud Dufer, as well as the new banking pool, both supporting our strategy, we have all the elements in place to continue our development and provide our clients with the best service”.

Arnaud Dufer, Head of Expansion France at Ardian, added: “Since Ardian’s investment in the Group, DIAM has continued on its strong growth trajectory. We have supported DIAM’s management team and its CEO, Michel Vaissaire, in numerous initiatives, including the opening of new production sites in Europe, Asia and North America, and the acquisition of two companies, based in China and in France, which have provided DIAM with a portfolio of new and complementary activities. After only 15 months, the refinancing operation is a strong signal of the all the trust we all have in the company and its teams”.

 

ABOUT DIAM GROUP

With revenues exceeding €300m in 2017, DIAM is the world leader in merchandising solutions for the luxury retail and cosmetics segments. In the last few years, DIAM has grown through international expansion (with a presence in 25 countries) and by broadening its offer to provide better support to its clients. DIAM is a key player in the creative design, production and installation of merchandising solutions for cosmetics and luxury brands (Chanel, Clinique, Dior, Estée Lauder, Cartier, L’Oréal, Lancôme, Clarins, LVMH, Shiseido, Coty, P&G, etc.).

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.

Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 480 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

 

LIST OF PARTIES INVOLVED

Ardian: Arnaud Dufer, Alexis Lavaillote, Caroline Pihan
Legal, financing and tax advisor: DLA Piper (Xavier Norlain, Matthieu Lampel, Maud Manon)
Financial advisor: Grant Thornton (Gregory Volpi, Jonathan Happi)
BNPP: Florent Launay, Guenaelle Kerever
CIC: Jérôme Salmon, Camille Laurent
Société Générale: Olivier Amicel, Stéphanie Kordonian
Banque Palatine: Hervé Rinjonneau, Alexis Nef
OFI ZenCap: François Caulry, Hervé Goigoux-Becker
Aviva: André Goncalvez, Benoit Faguer
Allianz: Damien Guichard, Alexandra Tixier
BIL: Julien Ruggeri, Bounouar Sayoud

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AURELIUS subsidiary Conaxess Trade Norway acquires Galleberg AS

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Aurelius

  • Strategic add-on acquisition doubles revenues of Conaxess Trade Norway to more than 45 million euros
  • Increased market share and new distribution channels

Søborg (Denmark) / Skedsmokorset (Norway), January 8, 2018 – The Conaxess Trade Group, an exclusive distributor of fast moving consumer goods (FMCG) to large-scale retail organizations in Europe, acquires Galleberg AS, one of Norway’s leading distributors of brands to grocery, convenience, horeca and health- / lifestyle shops. The company is headquartered in Skedsmokorset near Oslo, vendor of Galleberg is the Styrmoe family. This add-on acquisition nearly doubles the size of Conaxess Trade Group in Norway to more than 45 million euro in revenues per year and aims at increasing the market share in Norway by expanding its FMCG portfolio and exploring new distribution channels based on strong sales capabilities. Olaf J. Styrmoe, owner and Chairman of Galleberg will join the Board of Directors of the combined company and bring in his expertise regarding brand owners and customers. The financial terms of the deal are undisclosed.

Conaxess Trade employs around 500 employees across Denmark, Sweden, Norway, Finland, Switzerland, Austria and Germany and is operating as an exclusive distributor within FMCG reaching more than 130 million consumers, handling marketing, sales as well as physical distribution for many strong brands. Since 2016, Conaxess Trade is a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8).

Nils Haase, Vice President of AURELIUS and responsible for the realignment of Conaxess Trade: “We are very pleased about Conaxess’ acquisition of Galleberg. The deal provides Conaxess with additional market expertise, and will strengthen its market position to offer even better services to our brand owners. Furthermore, we are confident that Conaxess will also benefit from synergy effects of this add-on acquisition.“

Olaf J. Styrmoe, owner and Chairman of Galleberg AS: „Conaxess’ acquisition of Galleberg is of course a turning point. It marks the end of 95 years of successful family business. Likewise, it is the beginning of a promising future that opens up new perspectives to our employees and continued growth for our brand owners.”

 

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Blokker Holding and Alteri Investors complete sale of Intertoys

Amsterdam, Mayfair (UK), December 4, 2017 – Blokker Holding and Alteri Investors finalised the latter’s acquisition today of Dutch toy retailer Intertoys (including all its Bart Smit and Toys XL stores), making Alteri the retailer’s new owner. The competition authorities have granted the required authorisation and the recommendation process by the Works Councils has been completed. No further details will be disclosed regarding the size of the transaction.

This transaction is in line with the strategic reorientation previously announced by Blokker Holding. Alteri Investors regards the acquisition of the Intertoys chain as a valuable addition to its portfolio and intends to use all its experience, knowhow and capital to further transform Intertoys into a customer-centric omnichannel retail business.

About Intertoys

Intertoys – founded in 1976 in Gouda – operates around 500 stores (including more than 100 franchise) across the Netherlands, Belgium, Germany and Luxemburg, with one or more webshops in each country. Intertoys has implemented several modernisation and restructuring activities. In 2015 Blokker Holding announced the integration of the Intertoys and Bart Smit head offices and the instalment of one single management team for both retail brands. In June 2016 Blokker Holding announced the full integration of Intertoys, Bart Smit and Toys XL into one single brand: ‘Intertoys’. The conversion of Bart Smit stores to the Intertoys brand has now been completed in the Netherlands with the exception of 13 stores in the Netherlands and the Bart Smit stores in Belgium. Toys XL stores will be converted to Intertoys before the end of the year. Ahead of this year’s peak season, Intertoys will also implement several innovating omnichannel propositions and improvements to its online platforms. The majority of stores are located in the Netherlands. Intertoys has more than 4,000 employees and recently introduced several pilot stores in the Netherlands.

About Blokker Holding

Blokker Holding is a retail company focussing on household goods and toys. Blokker Holding currently has five retail formulas (Blokker, Big Bazar, Xenos, Maxi Toys and Marskramer) with more than 1,370 stores in eight countries and circa 14,000 employees. On 16 May 2017, Blokker Holding announced its decision to focus entirely on the Blokker retail chain in the Netherlands and Belgium and to sell the company’s other retail companies Xenos, Leen Bakker, Intertoys, Maxi Toys and Big Bazar. Retail chain Marskramer will continue as a franchise format and wholesale organisation. In July 2017 Blokker Holding completed the sale of Leen Bakker to Gilde Equity Management. Nextail, the online organisation servicing all of Blokker Holding’s retail companies, continues to service Leen Bakker and Intertoys through service level agreements. More information: www.blokkerholding.nl.

Contact

Blokker Holding

media@blokkerholding.nl,
Sandra Maas

+ 31 (0)20 358 90 33

Alteri Investors

The Netherlands

SPJ Financiële & Corporate Communicatie,
Kees Jongsma, Wim Moerkerk
+ 31 (0)20 647 8181

UK

Maitland

Tom Eckersley
+44 (0)207 379 5151

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Moda Operandi secures $165 million in growth capital co-led by Adrian Cheng and Apax Digital

Apax Digital

New York, NY December 6, 2017 – Moda Operandi, the first online luxury retailer to provide consumers access to full collections straight from the runway, today announces the completion of $165 million in growth capital to fuel continued international growth and increased development across several key business verticals. The new round was co-led by Adrian Cheng (through his investment vehicles – C Ventures and K11 Investment), whose family businesses include Chow Tai Fook Jewellery, New World Development, Rosewood Hotel & Resorts and K11; and Apax Digital, a new growth capital fund advised by the global private equity firm Apax Partners. Existing investors include New Enterprise Associates, LVMH and Fidelity, among others.

This significant new round of funding confirms investors’ confidence in the continued global expansion of Moda Operandi’s unique business model, and will support the acceleration of its international business with particular focus in key markets including Asia and the Middle East. Since their last round of funding in 2014, the business has increased by more than 3.5x, with international markets now representing more than one-third of total demand as led by Asia and the Middle East. Expansion of Moda Operandi’s showroom concept and stylist program will aid in continued international growth as the high-touch client services complement the high-tech business approach.

Additionally, the new funds will be used for key categories expansion and the launch of new businesses. The funding will also accelerate improvements in mobile technology, advancements in customization, personalization, and internationalization. Lastly, the funding is to support Moda Operandi’s strategies across marketing, customer acquisition programs as well as further develop the existing brand portfolio and expand new brand relationships.

Speaking on the occasion of the announcement, Moda Operandi’s CEO, Deborah Nicodemus, said: “Moda Operandi is the only multi brand e-commerce site where the shopping experience is dedicated to elevating the brand’s digital presence. Our continued success demonstrates the strength of our business, and gives new and existing investors the confidence in our capacity to pursue tremendous global growth. We look forward to continuing the momentum behind the transformation of the online luxury experience for our global clients. Through the leadership of the Moda team, and the bench strength of our existing investors coupled with the new partnership of Adrian Cheng and Apax Digital, we are defining the future of luxury ecommerce.”

Dan O’Keefe, Managing Partner of the Apax Digital team, said: “We are delighted to partner with Moda to help accelerate this next phase of its growth. We have been so impressed with the power of Moda’s brand and its positioning in the luxury market. Our partnership further confirms our commitment to growth within the luxury digital arena. We believe our unique operating capabilities and global platform can help drive the business even further and accelerate its international presence.”

Adrian Cheng, Co-Founder of C Ventures and Founder of K11 Investment, said: “I am hugely excited about Moda Operandi as an investment prospect. Its business model is cutting edge, with a curated customer experience that has a lot of potential within C Ventures’ and K11 Investment’s networks of brands, which collides the worlds of fashion, creative media and art to service millennial consumer interests in the global market. I’m looking forward to seeing how the brand grows and taps into this big business opportunity.”

Launched in February 2011, Moda Operandi to date has raised over $132 million in funding ahead of this round.

About Moda Operandi
Moda Operandi is the only place to preorder looks straight from the unedited runway collections of the world’s top designers months before they are available anywhere else. But for those who just can’t wait, Moda Operandi’s Boutique offers an expertly curated selection of in-season items from both established and emerging designers, ready to ship now. In homage to the history of couture, Moda Operandi offers a bespoke shopping experience that includes unprecedented access to your favorite designers, hand selected recommendations from personal stylists, and access to haute couture. Moda Operandi has established a retail renaissance where the time-honored institution of luxury meets an innovative point of view on fashion. For more information visit www.modaoperandi.com.

About Adrian Cheng
Entrepreneur Adrian Cheng is the Founding Partner of C Ventures, a new investment fund focused on building a global ecosystem of Millennials and Gen Z-centred brands and platforms. Cheng also founded K11, a multi-faceted brand rooted in culture that pioneered the museum-retail concept. The Harvard Graduate is also the Executive Director of Chow Tai Fook Jewellery Group, the world’s largest jeweller with over 2,400 shops worldwide. Cheng is the Creative Advisor of arts video channel Nowness and has recently forged a collaboration with tech giant Tencent to expand its co-working space concept outside of Mainland China.

About Apax Digital
Apax Digital is a $1 billion fund raised in 2017 focused on minority and buyout investments in high-growth enterprise technology and internet companies globally.  Advised by Apax Partners, a global private equity firm, Apax Digital’s investments are focused on subsectors where Apax Partners has expertise, including vertical software, data & analytics, tech-enabled services, marketplaces, digital media, and disruptive e-commerce. For further information about Apax Digital, please visit http://digital.apax.com.

Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of $51 billion*. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax Partners, please visit http://apax.com.

* Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at 30 September 2017.

Media Contacts 

Moda Operandi
Christine Kapp | + 1 646.627.7281 | Christine.Kapp@modaoperandi.com

Adrian Cheng / C Ventures / K11 Investment
Ellie Spicer | +44 (20) 3003 6487 | ellie.spicer@freuds.com
Hep Kwakye-Saka | +44 (20) 3003 6482 | hep.ksaka@freuds.com

Apax Partners / Apax Digital
Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst | +1 212 521 4854 | todd.fogarty@kekst.com
UK Media: Matthew Goodman, Greenbrook | +44 20 7952 2000 | mgoodman@greenbrookpr.com

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