Bruin Sports Capital announces strategic partnership with CVC Capital Partners and the Jordan Company

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Deal gives Bruin access to billions in capital, plus a global network of resources from the partners

Bruin Sports Capital (Bruin), the privately held global investing, operating and holding company today announced a wide-ranging, long-term strategic partnership with renowned private equity firms CVC Capital Partners (CVC) and The Jordan Company (TJC), to build best-in-class sports and entertainment companies. The deal gives Bruin access to billions in capital, plus a global network of resources from the partners beginning with an initial combined investment for $600 million from CVC Fund VII and TJC’s Resolute Fund IV.

“We are extremely proud to have the partnership and support of CVC Capital Partners and The Jordan Company, not only for what it says about our progress but also what it means for our businesses and future opportunities,” said George Pyne. “To be able to say to a partner that on top of our track record and user-friendly model, we can tap into all the capital and global resources necessary to accelerate their business is quite powerful. This begins the next chapter for Bruin, on an even much bigger and more global scale.”

Founded in 2015 by George Pyne, Bruin invests in, acquires, and builds leading-edge, global sports and entertainment companies. It supports owners and CEOs to achieve the full potential for their assets, bringing its resources and capabilities, backed by decades of experience in transforming businesses in a variety of sports and entertainment segments worldwide. The new partnership builds on this as Bruin can access the deep capital and resources of CVC, a leading global private equity firm with 24 offices around the globe and TJC, a US middle-market private equity firm with 37 years of experience managing funds invested in a wide range of industries.

Today, Bruin companies operate across five continents and engage billions of consumers. They include Deltatre, the industry leader in media technology products and services, On Location Experiences, a joint venture with the NFL to deliver premium sports and entertainment experiences and services to more than 1,000 events per year, Engine Shop, a leading sports and entertainment marketing agency that produces thousands of brand experiences annually, Soulsight, an award-winning brand strategy and design agency that leads product innovation for dozens of Fortune 100 brands and OverTier, which operates direct-to-consumer premium streaming services worldwide.

“George and his team have built an impressive franchise, and we are delighted to be partnering with them to invest in and develop high-growth, high-performing global sports and entertainment companies,” said Chris Stadler, Managing Partner at CVC Capital Partners. “Our extensive European network and deep experience in sports, media, and entertainment ideally complement Bruin’s impressive existing platform.”

“We are excited to partner with George, an extremely talented leader with an exceptional track record of business transformation, that continues with Bruin Sports Capital,” said Rich Caputo, Chief Executive Partner of The Jordan Company. “In a sector undergoing fundamental shifts to the way it does business, he and the team have demonstrated a unique ability to uncover potential and turn it into significant value. We are going to provide the full gamut of our resources to Bruin and the partnership, and we look forward to great things ahead.”

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EQT Credit completes unitranche financing for Sykes Cottages

eqt

EQT Credit, through its Direct Lending strategy, is pleased to provide committed senior debt facilities to support Vitruvian Partners’ acquisition of Sykes Cottages Holdings Limited (“Sykes” or the “Company”). Proceeds were used to finance the acquisition and refinance the Company’s existing debt as well as provide committed acquisition facilities to support future growth.

Sykes is a leading vacation rental management company, with more than 17,000 exclusively managed properties in the United Kingdom and New Zealand. The business has grown rapidly with significant investment in technology, providing a strong foundation for future expansion.

Paul Johnson, Partner at EQT Partners and Investment Advisor to EQT Credit, commented: “EQT Credit is delighted to be supporting Vitruvian and management as they continue to develop Sykes into one of the leading international players in the vacation rental market. With an exceptional management team and a well-invested technology platform, EQT believes the Company is well positioned to continue its strong growth trajectory. We would like to thank the advisors in the EQT Network, who added their knowledge of the vacation rental industry and provided key support and insight throughout the due diligence process.”

Michael Graham, CFO, at Sykes, commented: “We are very pleased to continue our strong relationship with EQT Credit and look forward to their continued support as we grow and build our business together with Vitruvian Partners.”

Contact
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Credit
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.

More info: www.eqtgroup.com/business-segments/credit/strategies/

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CapMan’s exit from Kämp Collection Hotels has been completed

CapMan Buyout press release
10 October 2019 at 10.15 am EEST

CapMan’s exit from Kämp Collection Hotels has been completed

The competition authority has approved Nordic Choice Hotels’ acquisition of Kämp Collection Hotels from funds managed by CapMan Buyout and other owners. The acquisition, announced in August, was finalised on 9 October. The new owner aims at significantly increasing the hotel supply in Helsinki.

CapMan Buyout X fund invested in Kämp Collection Hotels in 2014. The transaction is the fifth exit from the 2013 fund, which has developed well overall. CapMan Buyout is the largest mid-market private equity team in the Nordic region, with 11 investment professionals in Finland and Sweden and 30 years of industry experience. CapMan Buyout has made a total of more than 80 investments and more than 70 exits since 1989 and it is actively looking for suitable investments for its eleventh fund, which held a first close at €160 million in June 2019.

Additional information:
Tomi Alén, Investment Director, CapMan Buyout, tel. +358 50412 1947

About CapMan
CapMan Buyout is part of CapMan Group, a leading Nordic private asset expert with an active approach to value-creation in its portfolio companies and assets, with assets under management of more than €3 billion. CapMan has a broad presence in the unlisted market through our local and specialised teams. The investment strategies cover Private Equity, Real Estate and Infra. CapMan also has a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. For more information, please visit
www.capman.com

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Delisting of the Wessanen shares will occur on 1 November 2019

PAI Partners

This is a joint press release by PAI Partners SAS (“PAI”) and various entities (indirectly) controlled by or affiliated to Charles Jobson and/or his family members (“Charles Jobson”), acting jointly through Best of Nature Bidco B.V. (“Bidco”, and together with PAI and Charles Jobson, the “Consortium”), and Koninklijke Wessanen N.V. (“Wessanen” or the “Company”).


Paris, France / Boston Massachusetts, the U.S. / Amsterdam, the Netherlands – 2 October 2019

With reference to the joint press release dated 30 September 2019, the Consortium and Wessanen jointly announce that, in connection with the Consortium holding more than 95% of the issued and outstanding shares in Wessanen following completion of its public offer, Euronext Amsterdam N.V. (“Euronext Amsterdam”) has consented to the delisting of the Shares from Euronext Amsterdam.

Delisting shall occur on Friday 1 November 2019 and, accordingly, the last trading day of the Shares shall be Thursday 31 October 2019.

For more information, please contact:

Press enquiries for the Consortium
CFF Communications
Presthaya Fixter
T: +31 (0)6 2959 7748
E: presthaya.fixter@cffcommunications.nl

Press enquiries for Wessanen
Hill+Knowlton Strategies
Ingo Heijnen
T: +31 (0)6 5586 7904
E: ingo.heijnen@hkstrategies.com

Wessanen
Koninklijke Wessanen N.V.
Hoogoorddreef 5 Atlas Arena, (1101 BA) Amsterdam, the Netherlands

About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI Partners manages EUR 13.4 billion of dedicated buyout funds. Since 1994, the company has completed 71 transactions in 11 countries, representing over EUR 50 billion in transaction value. PAI Partners is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI Partners provides the companies it owns with the financial and strategic support required to pursue their development and enhance strategic value creation.

About Charles Jobson

Charles Jobson, CFA, has been a director at Good Times Restaurants Inc. (listed on NASDAQ) since May 24, 2018. He co-founded Delta Partners, LLC in 1999 and serves as its portfolio manager. Charles Jobson has been a long-term shareholder of Wessanen since 2009. Charles Jobson has shown strong support for the current management of Wessanen and believes in the current strategy. He would like to continue investing in the business to unlock its further potential as a growth company.

About Koninklijke Wessanen

Koninklijke Wessanen is a leading company in the European market for healthy and sustainable food. In 2018, revenue was EUR 628 million, and the company employed on average 1,350 people. With its purpose ‘connect to nature’ Wessanen focuses on organic, vegetarian, fair trade and nutritionally beneficial products. The family of companies is committed to driving positive change in food in Europe. Wessanen’s own brands include many pioneers and market leaders: Allos, Alter Eco, Bjorg, Bonneterre, Clipper, Destination, El Granero, Isola Bio, Kallø, Mrs Crimble’s, Tartex, Whole Earth and Zonnatura.

General restrictions

The distribution of this press release may, in some jurisdiction other than the Netherlands, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, the Offeror and Wessanen disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither the Offeror, nor Wessanen, nor any of their advisors assumes any responsibility for any violation by any of these restrictions. Any Shareholder who is in any doubt as to his or her position should consult an appropriate professional advisor without delay.

This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or the solicitation of an offer to buy or acquire the securities of Wessanen in any jurisdiction.

To the extent permissible under applicable law or regulation, the Offeror and its affiliates or brokers (acting as agents for the Offeror or its affiliates, as applicable) may from time to time after the date hereof, and other than pursuant to the intended offer, directly or indirectly purchase, or arrange to purchase, ordinary shares in the share capital of Wessanen, that are the subject of the Offer. To the extent information about such purchases or arrangements to purchase is made public in the Netherlands, such information will be disclosed by means of a press release to inform Shareholders of such information. In addition, financial advisors to the Offeror may also engage in ordinary course trading activities in securities of Wessanen, to the extent permissible under law or regulation, which may include purchases or arrangements to purchase such securities.

Forward-looking statements

Certain statements in this press release may be considered “forward-looking statements”, such as statements relating to the impact of this transaction on the Offeror and Wessanen. Forward-looking statements include those preceded by, followed by or that include the words “anticipated,” “expected” or similar expressions. These forward-looking statements speak only as of the date of this release. Although the Offeror and Wessanen believe that the assumptions upon which their respective financial information and their respective forward-looking statements are based are reasonable, they can give no assurance that these forward-looking statements will prove to be correct. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, receipt of regulatory approvals without unexpected delays or conditions, the Offeror’s ability to achieve the anticipated results from the acquisition of Wessanen, the effects of competition (in particular the response to the transaction in the marketplace), economic conditions in the global markets in which the Offeror and Wessanen operate, and other factors that can be found in the Offeror’s and Wessanen press releases and public filings. Neither the Offeror, nor Wessanen, nor any of their advisors, accepts any responsibility for any financial information contained in this press release relating to the business, results of operations or financial condition of the other or their respective groups. Each of the Offeror and Wessanen expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such forward-looking statement is based.

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Litorina invests in NN07

Litorina

Litorina acquires a majority stake in NN07, an international premium casual menswear brand. The acquisition creates a partnership with NN07’s founders and management as well as the previous majority owner, Fidelio, which all will remain as significant owners. By combining a strong value proposition, authentic and consistent brand DNA and high-quality products, NN07 has achieved strong profitable growth since its inception in 2007. Litorina will support NN07 on its continued international growth journey by leveraging previous experience from the premium menswear market.

NN07 was founded in Copenhagen in 2007 and is well-known for its popular chinos. The company has, by focusing on design, quality and fit, successfully established itself as a lifestyle brand with a complete product range, offering trousers, shirts, knitwear, jerseys and outerwear. Sustainability is core to NN07 and pervades all products as the company constantly strives to create timeless and durable clothes that stand the test of time.

NN07’s ability to refine classic menswear and create the originals of tomorrow with superior quality has led to loyal consumers and strong relationships with trade partners. NN07 has built close collaborations with leading local and global partners such as NK, Magasin, Care of Carl, Mr. Porter, Harvey Nichols, Liberty, Engelhorn, Konen, Bijenkorf and Nordstrom. Today, NN07 has sales in more than 40 countries with c. 75% originating from Scandinavia and c. 25% predominantly from UK, Germany, Benelux and USA.

To support in the international expansion and brand development, NN07’s board of directors will be strengthened with Fabian Månsson (former CEO H&M, Eddie Bauer, etc.) as the new chairman and Hans Davidson (former CEO of Eton) as a new director. Anders Cleemann (CEO of Muuto and former CEO of Peak Performance) will continue as a director.

“With its uncompromising focus on bringing high-quality premium menswear with a strong value proposition to the market, NN07 is well-positioned to continue its strong profitable growth journey. We have good experience from investing in the premium menswear sector, for example through our investment in the premium shirt company Eton, and we are pleased that NN07 has chosen Litorina as its partner. We are very impressed with the team at NN07 and what they have accomplished. The strong relationship NN07 has with strategic resellers constitutes a solid foundation for continued international expansion. Furthermore, NN07 has a loyal customer base due to its focus on providing quality products, leading to interesting opportunities in the digital arena”, says Gustav Thott, Partner at Litorina.

”The NN07 team is excited to partner with Litorina, a leading investor within consumer brands. We are growing strongly in Scandinavia, expanding internationally with premium retailers and strengthening our presence in the online landscape. Litorina, with its extensive knowledge, experience and network, will be a great support to the skilled team at NN07 on our fantastic growth journey”, says Tommy Holte, CEO at NN07.

 

For further information, please contact:

Tommy Holte, +45 29 61 46 26, CEO, NN07
Gustav Thott, +46 708 55 66 30, Partner, Litorina V Advisor

NN07 is a lifestyle brand built on the foundations of quality, attention to details and good craftmanship. From the headquarter in Copenhagen the team creates the originals of tomorrow through uncompromising fit, design and quality. NN07 products are sold internationally via NN07’s own website, concept stores, leading e-commerce retailers, department stores and retailers. For more information please visit www.nn07.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.

Fidelio is a Swedish investment company that primarily invests in non-public companies in Northern Europe. Our aim is to be an active owner that works closely with management to drive growth and create healthy and strong businesses. A combination of quick decision making and a flexible investment mandate enables us to be a long-term, flexible and pragmatic investor. In close collaboration with the management teams we help our portfolio companies by providing expertise, commitment and capital. For more information please visit www.fideliocapital.se

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Consortium of PAI and Charles Jobson aquire 96.81% of Wessanen shares-

PAI Partners

This is a joint press release by PAI Partners SAS (“PAI”) and various entities (indirectly) controlled by or affiliated to Charles Jobson and/or his family members (“Charles Jobson”), acting jointly through Best of Nature Bidco B.V. (“Bidco”, and together with PAI and Charles Jobson, the “Consortium” or the “Offeror”), and Koninklijke Wessanen N.V. (“Wessanen” or the “Company”), pursuant to the provisions of Section 4 paragraph 3 and Section 17 paragraph 4 of the Decree on Public Takeover Bids (Besluit openbare biedingen Wft) (the “Decree”) in connection with the recommended public offer by the Offeror for all the issued and outstanding ordinary shares in the capital of Wessanen (the “Offer”). This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in Wessanen. Any offer will be made only by means of the offer memorandum dated 11 July 2019 (the “Offer Memorandum”) approved by the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) (the “AFM”) and subject to the restrictions set forth therein. Terms not defined in this press release will have the meaning given thereto in the Offer Memorandum.


Paris, France / Boston Massachusetts, the U.S. / Amsterdam, the Netherlands – 30 September 2019

With reference to the joint press releases dated 10 April, 8 May, 11 July, 6 September, 10 September, 17 September, 23 September, 24 September and 25 September 2019 and the Offer Memorandum, the Consortium and Wessanen jointly announce that, with settlement of the Shares tendered during the Post Acceptance Period today, the Offeror holds 74,668,704 Shares, representing in aggregate approximately 96.81% of the total number of Shares.

Transaction highlights

  • Consortium has acquired 96.81% of the Shares
  • Delisting of Shares on Euronext Amsterdam expected to occur on 1 November 2019
  • Squeeze-Out procedure will start as soon as possible

Settlement

The Offeror has acquired 3,790,589 Shares[1], representing approximately 4.91% of the Shares, against payment of an offer price of EUR 11.36 (cum dividend) in cash per Share (the “Offer Price”) in respect of each Share validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) during the Post Acceptance Period.

Together with the Shares acquired by the Offeror following Settlement of the Shares tendered during the Offer Period and the additional share market purchases, the Offeror will hold 74,668,704 Shares, representing in aggregate approximately 96.81% of the total number of Shares.

[1] Since the press release dated 25 September 2019, the Offeror has received additional acceptances in the amount of 58,425 Shares which it accepted as defective tenders.

Delisting

In connection with the Offeror holding more than 95% of the Shares, the Offeror and Wessanen have requested the delisting of the Shares from Euronext Amsterdam. Subject to Euronext Amsterdam approval, delisting is expected to occur on 1 November 2019 and accordingly the last trading day of the Shares would be 31 October 2019. This may adversely affect the liquidity and market value of any Shares not tendered. Reference is made to Section 5.11 (Consequences of the Offer) of the Offer Memorandum.

Squeeze-Out procedure

Additionally, as the Offeror now holds more than 95% of the Shares, the Offeror will initiate a Squeeze-Out procedure as soon as possible. Reference is made to Section 5.11.4 (Squeeze-Out) of the Offer Memorandum.

Finally, in connection with these developments, Wessanen has stopped publishing quarterly trading updates.

Announcements

Announcements in relation to the Offer will be issued by press release and will be available on the website of PAI Partners on behalf of the Offeror (www.paipartners.com) as well as on the corporate website of Wessanen (www.wessanen.com).

Subject to any applicable legal requirements and without limiting the manner in which the Offeror may choose to make any public announcement, the Offeror will have no obligation to communicate any public announcement other than as described above.

Further information

This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement.

Digital copies of the Offer Memorandum can be obtained through the websites of Wessanen (www.wessanen.com) and PAI Partners (www.paipartners.com). Copies of the Offer Memorandum are also available free of charge at the offices of Wessanen and the Exchange Agent at the addresses mentioned below. Digital copies of the Position Paper can be obtained through the websites of Wessanen (www.wessanen.com).

For more information, please contact:

Press enquiries for the Consortium
CFF Communications
Presthaya Fixter
T: +31 (0)6 2959 7748
E: presthaya.fixter@cffcommunications.nl

Press enquiries for Wessanen
Hill+Knowlton Strategies
Ingo Heijnen
T: +31 (0)6 5586 7904
E: ingo.heijnen@hkstrategies.com

Settlement Agent
ABN AMRO Bank N.V.
Global Markets I Corporate Broking
Gustav Mahlerlaan 10, (1000 EA) Amsterdam, the Netherlands
T: +31 (0)20 344 2000
E: corporate.broking@nl.abnamro.com

Wessanen
Koninklijke Wessanen N.V.
Hoogoorddreef 5 Atlas Arena, (1101 BA)
Amsterdam, the Netherlands

About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI Partners manages EUR 13.4 billion of dedicated buyout funds. Since 1994, the company has completed 71 transactions in 11 countries, representing over EUR 50 billion in transaction value. PAI Partners is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI Partners provides the companies it owns with the financial and strategic support required to pursue their development and enhance strategic value creation.

About Charles Jobson

Charles Jobson, CFA, has been a director at Good Times Restaurants Inc. (listed on NASDAQ) since May 24, 2018. He co-founded Delta Partners, LLC in 1999 and serves as its portfolio manager. Charles Jobson has been a long-term shareholder of Wessanen since 2009. Charles Jobson has shown strong support for the current management of Wessanen and believes in the current strategy. He would like to continue investing in the business to unlock its further potential as a growth company.

About Koninklijke Wessanen

Koninklijke Wessanen is a leading company in the European market for healthy and sustainable food. In 2018, revenue was EUR 628 million, and the company employed on average 1,350 people. With its purpose ‘connect to nature’ Wessanen focuses on organic, vegetarian, fair trade and nutritionally beneficial products. The family of companies is committed to driving positive change in food in Europe. Wessanen’s own brands include many pioneers and market leaders: Allos, Alter Eco, Bjorg, Bonneterre, Clipper, Destination, El Granero, Isola Bio, Kallø, Mrs Crimble’s, Tartex, Whole Earth and Zonnatura.

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Deli Home Holding B.V. aims to strengthen position through acquisition of Weekamp Deuren

NPM Capital

Gorinchem, the Netherlands, 24 September 2019

NPM Capital portfolio company Deli Home, a manufacturer and distributor of constructive and decorative homewares, is announcing that it has reached agreement on the acquisition of Weekamp Deuren (‘Weekamp’). The proposed takeover will be submitted for approval to the Netherlands Authority for Consumers & Markets (ACM) and is expected to be completed in mid-November 2019.

The Deli Home and Weekamp project ranges are perfectly complementary. Whereas Deli Home and its subsidiary Skantrae enjoy a particularly strong position in interior doors, Weekamp has been dominant in exterior doors. Skantrae is primarily a trading company, while Weekamp excels in customised products. This makes the proposed takeover a natural next step, one which is in line with the company’s strategy of international expansion, economies of scale, customised solutions and in-house production.

The new alliance will enable Deli Home to provide even better services to its customers, as well as providing opportunities for growth for both companies within all the industries in which they currently operate. In addition, there are synergy benefits to be gained for both companies in areas such as purchasing, manufacturing, stocks and logistics, while the two companies will also be able to use and increase their expertise more effectively. Together, they will represent a major force in the door market, with more than €100 million in revenue and nearly 1,000 employees. Both companies will continue to operate from their current sites following the acquisition, with no fundamental changes.

Johan Weekamp (CEO Weekamp Deuren): “In Deli Home, we have found the best possible partner to take our company to the next level. My brother and I have spent the past 40 years writing an exciting boys’ adventure novel of sorts, and in taking this next step we will be able to offer our employees, customers and suppliers the continuity they deserve in the future, plus the guarantee that our high-quality products will remain widely available for many years to come.”

Victor Aquina (CEO Deli Home): “Weekamp offers us a unique opportunity to invest, earlier than we would have been able to otherwise, in customised products for our range of doors, which is very important for our company. It is completely in line with our strategy. Furthermore, Weekamp is a family business, just like the other subsidiaries previously acquired by Deli Home. This underscores our commitment to enterprise, passion and technical expertise.”

About Deli Home
Deli Home is the producer of high-end brands such as CanDo, Bruynzeel, Lundia and Skantrae. The company also manufactures and distributes timber, doors, floors and staircases, storage products, insect screens and sanitary products. Deli Home employs a staff of 800 people, operates in a total of 10 countries, and generates revenue of €260 million.

Deli Home’s mission is to streamline complex tailor-made solutions for the DIY and professional markets in order to make outstanding workmanship available to anyone. Deli Home invests in corporate social responsibility (CSR) through sustainable production, long-term employability and responsible forest management. Timber is what connects all these various product groups: woodwork is very much in our DNA.

About Skantrae
Skantrae B.V., a subsidiary of Deli Home Holding B.V., is based in Zevenaar, the Netherlands. The company has been operating in the door market for more than 40 years, specialising in the manufacture of doors, accessories and services for the wholesale market (building materials and retail).

With a stock of 120,000 doors, 35,000 fibre-optic packages and 35,000 door handles, Skantrae can deliver at short notice. The trendsetting company develops new lines of doors and concepts in-house, ensuring that it can offer a competitive and up-to-date product range at all times. Skantrae employs 130 people and generates revenue in excess of €50 million.

About Weekamp
As an independent family business established in 1978 and based in Dedemsvaart, the Netherlands, Weekamp manufactures doors for both serial and standalone new construction projects, as well as for large-scale home renovation. The company supplies to wholesalers (building materials and retail) as well as to the woodwork industry and contractors.

Weekamp’s in-house production at its manufacturing facilities in the Czech Republic and Indonesia enables the company to provide an appropriate solution for any situation. Weekamp also operates from sites in Dedemsvaart, the Netherlands (head office) and has a sales office in the United Kingdom. The company’s annual revenue is more than €50 million and it employs 850 people.

Read the profile of Deli Home

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Grove Collaborative Reaches $1B Valuation With $150M Series D

Mayfield

Grove Collaborative raised $150 million in its Series D round, bringing its valuation across the $1 billion mark.

The company, which makes natural home and personal care products, had previously raised over $60 million, according to Crunchbase.

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The new round was led by Lone Pine Capital, Glynn Capital, and General Atlantic. A new investor, Greenspring Associates, as well as existing investors Mayfield Fund , NextView Ventures, Norwest Venture Partners, MHS Capital and Heron Rock Capital also participated, according to a statement from the company.

With the fresh cash, the San Francisco-based company plans to expand into clean beauty, create more sustainable packaging and products, and hire more than 100 new employees for its Grove Guide team, which answers customer questions and educates shoppers about the company’s natural products.

Grove Collaborative, which was founded in 2016, promotes its products as natural and healthier for users and better for the environment. It’s known for products like its “tree free” toilet paper made of a bamboo and sugar cane blend. Grove Collaborative has household, personal care, baby, and pet products.

The direct-to-consumer company also has a partnership with Mrs. Meyers Clean Day and sells Mrs. Meyers products on the Grove website. It competes with other e-commerce and natural products companies such as the Honest Company (aka Jessica Alba’s natural goods company).

Grove Collaborative is growing quickly, expecting its revenue to triple in 2019. The company says it grew eight-fold between May 2017 and May 2019.

The company last raised its $35 million Series C in January 2018. It raised a $6.7 million Series A in July 2016, and a $15.4 million Series B in April 2017, according to Crunchbase.

TechCrunch also reported in December that the company was quietly raising money. Filings showed that the company was raising $27.4 million and $76.4 million in 2018, in addition to its Series C.

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Esdec Acquires IronRidge and Quick Mount PV

Gilde Buy Out

 

Acquisition creates largest solar racking group in the U.S. San Francisco, CA and Phoenix, AZ — Esdec, a leading global rooftop solar mounting solutions provider, announced today that it has acquired IronRidge and Quick Mount PV, leaders in the design, engineering and manufacturing of solar mounting and racking hardware for the U.S. residential and commercial markets. The addition of IronRidge and Quick Mount PV to current Esdec company, EcoFasten, creates the largest solar mounting systems group in the U.S., representing more than 60% share of the residential market. The combined group generates revenues of over $250 million annually. Terms of the deal were not disclosed.
IronRidge and Quick Mount PV will retain their executive teams and staff and continue to operate as separate entities with unique product lines and sales channels. Both companies will also retain their independent brand names while becoming “An Esdec Company.”
“IronRidge and Quick Mount PV are both well-known and well-respected brands with reputations for innovation, quality and customer service,” said Stijn Vos, CEO of Esdec. “They have played a key role in scaling the U.S. solar industry to where it is today, and our investment adds the capital depth and R&D capabilities needed for them to lead the industry’s next massive phase of growth. We welcome IronRidge and Quick Mount PV to the Esdec family and look forward to working with them.”
Esdec is one of Europe’s largest rooftop solar mounting providers, and these acquisitions also catapult the company into the U.S. market leadership position. Known for its state-of-the-art innovation center, R&D strength and intellectual property portfolio, Esdec will enable IronRidge, Quick Mount PV and EcoFasten to invest more heavily and more efficiently in new product development.
As U.S. PV capacity is expected to more than double over the next five years, the balanced portfolio of the Esdec group of companies provides installers and distributors the certainty they need for their supply chain, despite uncertain regulatory and trade environments. “Esdec acquired three different leaders in the U.S. market because we are each raising the bar on product performance and customer experience in unique ways,” said Rich Tiu, CEO of IronRidge, based in Hayward, CA. “We now have the opportunity to benefit from each other’s portfolio strengths, as well as Esdec’s, while still remaining focused on our unique innovation paths.”
“The American solar industry is among the strongest in the world, and solar hardware is a critical tool in that growth. Joining Esdec will help us continue our expansion—providing us the resources of a global company while maintaining our independence,” said Yann Brandt, CEO of Quick Mount PV. “The team at Quick Mount PV is eager to join the strength of Esdec’s innovation capabilities and to take advantage of the opportunities that economies of scale provide. Solar installers will now be able to get their racking and mounting from one family of companies to enable their massive expansion.”
Since it was founded by a group of installers in 2004, Esdec has become one of the European market leaders in residential and commercial rooftop mounting systems. Esdec entered the U.S. market in September 2018 and acquired EcoFasten in November 2018. Based in the Netherlands, Esdec’s strategy of growth through both acquisition and organic expansion has helped it achieve strong market share in several countries.

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Partners Group commits to second unitranche investment in Asia with financing of Gong Cha Group

Partners Group

Partners Group, the global private markets investment manager, has committed a unitranche debt financing to Gong Cha Group (“Gong Cha” or “the Company”), a leading global provider of premium quality bubble and milk tea, on behalf of its clients. The transaction, which also includes a significant equity kicker, supports the strategic growth investment in Gong Cha by the private equity firm TA Associates.

Founded in 2006 in Southern Taiwan, Gong Cha offers consumers a variety of seasonal and specialty tea-based drinks. Its main offering is Taiwanese-style bubble tea, a sweet milk tea infused with tapioca pearls. Primarily utilizing a franchise model, Gong Cha reaches consumers through a variety of retail store formats, with more than 1,000 outlets in 17 countries across the globe, including Korea, Japan, Taiwan, the Philippines, Malaysia, Mexico, Australia, Canada, the UK and the US.

Partners Group’s investment in Gong Cha follows an earlier investment on behalf of its clients into the unitranche debt of AGS Health, a provider of clinical documentation and revenue-cycle management solutions to healthcare providers. Together with transactions in Australia, Partners Group has invested more than USD 600 million in unitranche investments over the last two years across the Asia-Pacific region.

Edward Tong, Senior Vice President, Head Private Debt Asia, Partners Group, comments: “Gong Cha is one of the world’s most recognized bubble tea brands, albeit one with its roots firmly in Asia. It is well positioned to benefit from the steady growth of the tea market globally and we are excited to partner with TA Associates to support its further expansion.”

Bill Berry, Partner, Head Private Debt, Partners Group, adds: “The private debt business at Partners Group has shown itself to be an innovative lender with a track record of breaking new ground. We have taken the unitranche product out of Australia and into Asia, and believe there is scope to provide these tailored financing solutions while maintaining a high degree of credit selectivity.”

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