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EQT and Kühne Holding invest in Flix, the global travel company

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EQT Future and Kühne Holding to acquire a 35% stake in Flix

Investment is part of a long-term strategic partnership built on a common vision for Flix’s next phase of profitable growth across new and existing markets and offerings

EQT is investing through EQT Future, its impact-driven, longer-hold fund, and will support Flix’s ambition to expand the offering of sustainable and affordable travel options

Flix SE (“Flix” or the “Company”), the global travel tech company, and EQT, the global investment organisation, together with Kühne Holding, representing one of the world’s leading logistics entrepreneurs and investors, today announce that a definitive agreement has been reached for EQT Future and Kühne Holding to acquire a 35% minority stake in Flix.

In addition to a primary investment in Flix, EQT Future and Kühne Holding will acquire shares from existing shareholders to build a long-term anchor shareholding in Flix. This investment will further strengthen Flix’s balance sheet and help accelerate the Company’s successful trajectory of profitable growth. The closing of the transaction is subject to certain customary conditions and regulatory approvals.

“We are delighted to welcome EQT Future and Kühne Holding as strong and purpose-driven investors with proven track records of building upon sustainable long-term investment strategies. Their capital and know-how will be a strong asset to our company’s overall strategic vision. We couldn’t ask for better partners to embark on the next chapter of Flix’s journey”, commented André Schwämmlein, CEO and Co-Founder of Flix.

“EQT Future backs high-quality, growing companies that have the potential to be sustainability leaders in their fields. Flix is the perfect example of this. We are deeply impressed by what Andréand his team have built, having developed Flix from a startup into the clear global market leader, operating in 43 countries,” said Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team. “For us at EQT, it is always about providing more than capital. We are proud to partner with Kühne Holding, one of the leading transportation and logistics investors, and together with André and his team, we are excited to support Flix’s strategic growth agenda over the long-term. We aim to ensure Flix’s low carbon solution to long-distance travel reaches even more people across the world and believe that Flix is on a path to being the category defining player in mass ground transportation, with huge potential to become a household name in the industry and beyond.”

Dominik de Daniel, CEO Kühne Holding AG, commented: “Flix is driving the next generation of collective transport. The Kühne Holding is proud to actively support them as a strategic partner in their next phase of expansion. Over the past few months, we have established a great relationship with the colleagues of EQT Future. We have great confidence in André Schwämmlein and his team and very much look forward to supporting Flix’s future in a beneficial partnership.”

Karl Gernandt, Chairman Kühne Holding AG, added: “As one of the largest strategic investors in the transport and mobility sector, the Kühne Holding is now taking a further step into the market for collective transport by bus. With Flix’s proven asset-light operating model, we see great synergies with our other investments in the transport sector. Furthermore, we want to support the expansion strategy of their international network. We are building on the great successes that Flix has achieved in establishing the bus as the leading sustainable means of transport – for more than a decade in Europe and now also overseas.”

Driving profitable growth
The investment comes at a time of continued significant growth momentum and strategic expansion at Flix. The company reported 30 percent total revenue growth in 2023 and thus, for the first time, reached EUR 2 billion in annual total revenue. This comes at an increased profitability with adjusted EBITDA of EUR 104 million in 2023. The strong momentum enables Flix to deliver on strategic targets such as the expansion of its global footprint, transforming the North American bus market and further scaling FlixTrain to respond to the rising demand for alternative rail services in Germany.

Expanding the global footprint
To further strengthen its geographical presence, Flix has recently entered two of the most important bus markets worldwide: Chile and India. The company’s global footprint now stretches across 43 countries worldwide. With both FlixBus and FlixTrain, the European expansion is moving forward. FlixBus is significantly expanding its services in UK, Portugal and Ukraine and has launched in Norway and Finland. Flix’s clear ambition is to reach market leadership in these markets.

Advancing the North America business
Flix has been operating in the United States since 2018. In 2021, the company acquired Greyhound Lines, an iconic intercity bus service provider, further expanding its reach, including in Canada and Mexico. The transformation and integration of operations into the Flix platform is well underway and increasingly reflected in a growing asset-light share, driving growth and profitability in the market.

With growth comes responsibility
Flix is on a continuous mission to deliver a great travel experience while constantly reviewing the impact of its business. To underpin the Company’s commitment to a responsible business model, Flix recently published itssecond voluntary ESG report for 2023. With its vision to drive sustainable and affordable travel, Flix aligns strongly with EQT Future’s mission to support market leading businesses which improve our planet through the products and services they deliver, while having the potential to shape their industries.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About Flix
Flix intends to transform the public transport sector by offering sustainable and affordable long-distance bus and train travel solutions in more than 40 countries across four continents. With its asset-light business model and innovative technology platform, Flix, launched in 2013, swiftly established market-leading positions for long-distance bus travel in Europe, North America and Türkiye and is rapidly expanding further into South America and India through its brands FlixBus, FlixTrain, Kamil Koç, and Greyhound.

Driven by increased awareness for sustainable travel, Flix aims to become carbon neutral in Europe by 2040 and globally by 2050. To assess its progress within a scientifically recognized framework, Flix established near-term targets for emissions reduction with the Science Based Targets initiative.

While Flix manages the commercial side of the business such as network planning, pricing, operations control, marketing and sales, quality management and continuous product development with a data-driven approach, trusted Flix partners conduct the daily operations. The innovative combination of Flix’s technology and sales platform with traditional passenger travel has turned a European start-up into a leading and globally expanding travel tech company.

For more information, please visit corporate.flixbus.com

About Kühne Holding
Kühne Holding AG, based in Switzerland, comprises Klaus-Michael Kühne’s business interests. With an entrepreneurial focus on investments in the logistics and transport sector, it holds a majority stake in Kühne+Nagel International AG and is the largest single shareholder of Hapag-Lloyd AG, Deutsche Lufthansa AG and Brenntag SE. In April 2024, the Kühne Holding announced the acquisition of Aenova Group, a globally leading pharma contract development and manufacturing organization.

Contacts
EQT: Press Office, press@eqtpartners.com
Flix: Lara Hesse, globalpress@flixbus.com
Kühne Holding: Dominique Nadelhofer, Dominique.nadelhofer@kuehne-holding.com

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IK Partners enters exclusive negotiations to sell Mademoiselle Desserts to the Emmi Group

IK Partners

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has entered into exclusivity to sell its stake in Mademoiselle Desserts (“the Company”), a leading European manufacturer of frozen pastries, to the Emmi Group (“Emmi”). Financial terms of the transaction are not disclosed.

Established in 1984 and headquartered in Montigny-le-Bretonneux in France, Mademoiselle Desserts has rapidly grown to become a leading European manufacturer of premium frozen pastries, including mini beignets, mini muffins, choux-based pastries, tarts, flans and pastry bases.

From its 12 production facilities in France, Benelux and the UK, Mademoiselle Desserts serves over 900 customers in more than 45 countries globally. The Company employs approximately 2,000 people who collaborate closely with its customers to develop bespoke desserts meeting the highest food standards.

In partnership with IK since 2018, Mademoiselle Desserts has achieved several strategic objectives and successfully executed the acquisitions of: Pâtisserie Michel Kremer in 2018; Les Délices Des 7 Vallées in 2019; Planète Gourmet in 2021; and Galana in 2023. These acquisitions have enabled the Company to expand internationally, particularly in the US and Europe, while enhancing its product portfolio towards mini products.

IK also supported the Company with an operational excellence programme centred around purchasing, site specialisation and logistics. Investments in production lines were also made to further expand the business’s capacity. These initiatives, coupled with the expertise of the management team, have resulted in substantial growth and expansion for the group.

Didier Boudy, CEO of Mademoiselle Desserts, commented: “We would like to thank IK for all their support in the past six years. This period has seen us navigate several significant global crises, but we have managed to emerge as a stronger business through the dedication of our own employees and the expertise and financial backing of IK. We are very excited about the next chapter which will see us working closely with Emmi.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK VIII Fund, said: “Since investing in Mademoiselle Desserts in 2018, we have been extremely impressed with the professionalism and expertise of the entire team. Together, we have implemented organic growth initiatives and executed several bolt-on acquisitions, solidifying the Company’s position as one of Europe’s leading manufacturers of frozen pastries and desserts. We wish Didier and his team continued success for the next stage of their already impressive growth story.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

Mademoiselle Desserts

Mademoiselle Desserts is a leading frozen bakery player in Europe. Founded in 1984, the Group has grown through an active build-up strategy in France, the UK and Netherlands. It operates 12 production sites and employs approximately 2,000 people. For more information, visit http://www.mademoiselle-desserts.com

IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €16.5 billion of capital and invested in over 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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Gimv announces strategic investment in Curana, leading bicycle components manufacturer

GIMV

Topic: Investment

Gimv is pleased to announce its strategic investment in Curana, a leading developer and manufacturer of high-end bicycle components, specialising in fenders, chain guards and dress guards. Based in Ardooie, Belgium, Curana is renowned for its design and innovation capabilities, providing custom-built solutions for top-tier bicycle manufacturers.

Gimv’s investment in Curana underscores its commitment to the sector of sustainable mobility and lifestyle consumer products and its confidence in Curana’s potential for continued success.

In partnership with Gimv, Curana intends to professionalise its organisation and accelerate its international growth strategy, building upon its reputation as the go-to partner for top-tier bicycle manufacturers. This investment comes at a pivotal moment for Curana, following the untimely passing of its owner, Dirk Vens, during the investment process. Gimv is committed to honouring Dirk’s legacy by continuing to build on the robust foundation he established. Gimv is investing alongside Jean-Charles Malherbe, the newly appointed buy-in CEO, and management to drive this next phase of growth for Curana.

Jean-Charles Malherbe, CEO Curana, states: “Curana has always been at the forefront of design and innovation in the bicycle components industry. Our small but dedicated team is passionate about delivering tailor-made solutions that meet the unique needs of our customers. I am honoured to lead Curana into its next chapter, building on Dirk Vens’ remarkable legacy. Together with Gimv, we will continue to push the boundaries of innovation and maintain the high standards of quality and customer satisfaction for which Curana is known.”

David De Peuter, Partner Gimv Consumer, adds: “Curana is a perfect fit for Gimv’s consumer investment strategy, particularly given its strong presence in the bicycle and e-bike sectors. We are confident in the mid- and long-term prospects for the bicycle industry driven by robust and favourable fundamental trends. We see tremendous potential in Curana’s innovative approach and high-quality products. Our goal is to guide Curana in its next growth phase, ensuring that the company continues to deliver exceptional value to its customers and partners.”

Financial details of the transaction will not be disclosed.

 

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Apollo Leads $700M Capital Solution for Sony Music Group

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NEW YORK, July 26, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that, on behalf of its affiliated and third-party insurance clients and other investors, it has provided a $700 million capital solution to Sony Music Group, an affiliate of Sony Group Corporation (“Sony”), for investments in the music industry.

“We are pleased to provide a bespoke capital solution to an affiliate of one of the world’s leading companies. This investment allows our clients to invest in high grade securities while helping Sony to execute its business plans,” said Apollo Partner Jamshid Ehsani.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2024, Apollo had approximately $671 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Amanda Collins
Global Head of Corporate Communications
Sony Music
Amanda.collins@sonymusic.com

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819 Capital Partners acquires Touroperating division from ANWB

819 Capital Partners

Deventer, June 13, 2024 – 819 Capital Partners has acquired the Touroperating division from ANWB through a buy-out, together with the management team Gert-Jan Bressers and Richard Broekhoven. The new organization will continue under the name Fox Reizen and will continue to develop and execute member trips for the ANWB.

ANWB is shifting its focus in the travel sector to offering a wide range of trips, but will no longer be developing these. The new Fox Reizen organization will continue to do this for ANWB.

Marga de Jager, CEO of ANWB: “We at ANWB are pleased with the privatization. The management knows the company well, which ensures the continuity of the organization. The privatization of the tour operating activities also fits well within ANWB’s strategy to focus more on the needs of our members and to meet those needs. We will continue to offer trips as ANWB, but we no longer want to develop and execute everything ourselves. We ensure a wide range products and services, including sales. In addition to our stores, we have a gateway for all products and services we offer at anwb.nl.”

Gert-Jan Bressers, director of Fox Reizen: “The privatization of the tour operating activities offers plenty of opportunities and makes us even more competitive, agile, and decisive. With the new management and our team, we will continue to focus on developing, selling, and executing beautiful trips in both Europe and beyond. We do this under the brands ANWB and Fox. We are convinced that with our expertise and passion, we will create great experiences for travelers. We look forward to working with our partner 819 Capital Partners to further expand the success of Fox Reizen in the coming years.”

Sven Kempers, director of 819 Capital Partners: “ANWB and Fox Reizen are renowned names in the travel industry. Given the strong management and the new form of cooperation with ANWB, we have great confidence in the future. We are pleased that we have been able to make this management buy-out possible from 819 Private Equity Fund I.”

All employees of the tour operating activities will move to Fox Reizen.

We have acquired Fox Reizen with 819 Private Equity Fund I.

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GoodLife Foods to acquire Audens Group

GoodLife Foods B.V. and its affiliates (‘GoodLife Foods’) is pleased to announce that an agreement was signed to acquire Audens Group Solutions S.L. (‘Audens’ or the ‘Company’), a leading manufacturer in the Iberian frozen food market. The combination will result in a highly complementary group producing and selling innovative frozen food snacks and meal components across Europe. Financial terms of the transaction are not disclosed and completion is subject to legal and regulatory approvals.

Headquartered in Granollers (Barcelona area), Spain, Audens offers a broad portfolio of branded and private label products focused mainly on frozen snacks/appetizers and ready-meals.

The Company specializes in the production and distribution of branded and private label products, serving a customer base active in the Retail and Foodservice channels, mainly in Iberia next to a growing international presence.

Audens employs over 800 employees and operates five state-of-the-art manufacturing plants in Spain and Portugal. The Company’s CEO David Sala Coll will become non-executive director at GoodLife Foods and will remain active as strategic advisor to Audens. Carles Bosch will be appointed as General Manager of Audens and will manage the daily business operations in Iberia.

This strategic move represents a significant milestone for GoodLife Foods, as it allows to further diversify its product offerings and tap into new geographical growth opportunities. The combination will result in a leading frozen savoury food group with a pan-European sales and production network offering high levels of innovation and service levels to its customers.

Dirk Van de Walle, CEO at GoodLife Foods, said: ‘We believe that by combining the resources of Audens and GoodLife, talents, and innovative spirit, we can create a powerhouse in the food sector that is primed for success. Together, we will leverage our collective strengths to better serve our customers, drive operational excellence, and fuel growth in both existing and emerging markets’.

David Sala Coll, at Audens, said: ‘We are delighted to join forces with GoodLife Foods and become part of a dynamic and forward-thinking organization. This transaction presents exciting opportunities for our employees, customers, suppliers and partners alike. Together, we will continue to deliver exceptional appetizer solutions while maintaining our unwavering commitment to quality and customer satisfaction’.

Frederik Jacobs, Partner at IK, said: ‘We are pleased to have helped bringing both companies together. Part of our investment strategy at GoodLife Foods is to accelerate internationalisation and expand our presence to faster growing frozen food categories. The combination of GoodLife Foods with Audens is a significant accelerator of our ambition to create a strong and structurally growing frozen food business across select savoury categories’.

About Audens Group Solutions S.L.

Audens is a leading manufacturer in the Iberian frozen market of both branded and private label snacks/appetizers. The Company has its headquarters in Granollers, Spain, with production sites in Spain and Portugal. For more information, visit https://enaudensfood.com

About GoodLife Foods B.V.

GoodLife Foods is one of Europe’s largest producers of both branded and private label frozen savoury food products. GoodLife Foods has its headquarters in Breda, the Netherlands with production sites in the Netherlands, Belgium and Denmark. For more information, visit https://glfoods.com/en/

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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Thermatras partners with Mentha Impact to accelerate growth

Mentha

Mentha Impact has entered into a partnership with Thermatras, a company specializing in measuring, producing, and installing thermal insulation in the form of sustainable insulation mattresses. The goal of this collaboration is to further leverage the existing growth potential and maximize the correlated CO2 reduction.

For over 40 years, Thermatras has been delivering a high-quality, sustainable custom product. The insulation mattress is used to reduce heat loss in technical systems and is made of fiberglass filled with insulation material. Thermatras serves the shipping, industrial, and utility sectors.

Alexander Norder, Managing Director of Thermatras: “Having Mentha Impact as a shareholder is a great opportunity for Thermatras. They are committed and bring extensive knowledge and experience in helping organizations maximize their potential. I am confident that together we can realize Thermatras’ ambitious growth plans.”

Edo Pfennings, partner at Mentha Impact: “We are very excited about this partnership. Thermatras is an excellent company operating in a clearly growing market where growth goes hand in hand with further CO2 reduction by reducing heat loss. The management team, together with us, has great ambitions to fully capitalize on the opportunities available and maximize impact as a result.”

Thermatras is the first investment of the Mentha Impact Fund.

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Platinum Equity Portfolio Company Hop Lun Acquires P.H. Garment

Platinum

LOS ANGELES and HONG KONG (June 6, 2024) – Platinum Equity portfolio company Hop Lun, one of the world’s largest designers and manufacturers of intimate apparels, announced today the acquisition of P.H. Garment.

Headquartered in Hong Kong, P.H. Garment is an innovative private label manufacturer of high-quality bras, shapewear and performance-driven active wear for world renowned fashion brands.

The company has three manufacturing facilities in Bangladesh and China and provides a full range of design and production services, including expertise producing bonded products (fusing fabrics seamlessly using heat or adhesive).

“We are continuing to seek opportunities for Hop Lun to expand and diversify its capabilities, increase scale and add more value for its customers. We are working with Erik and the company’s leadership team to identify and pursue additional opportunities for growth, both organically and through strategic M&A.”

Jacob Kotzubei and Matthew Louie, Co-President and Managing Director, Platinum Equity

“We welcome the P.H. Garment team to the Hop Lun family,” said Erik Ryd, Founder and CEO of Hop Lun. “We believe our businesses are highly complementary are excited to work together leveraging our combined expertise to give even better service to our customers. P.H. Garment’s expertise in bonded products, in particular, will open new avenues for growth at Hop Lun.”

Eddie Wong, Founder and Executive Director of P.H. Garment said: “The P.H. Garment team is excited to join Hop Lun and we look forward to leveraging Hop Lun’s resources, design capability and manufacturing scale to expand our services and solutions for our customers.”

Based in Hong Kong, Hop Lun employs more than 26,000 people and has manufacturing operations in Bangladesh, China and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands.

PH Garment is the second add-on acquisition Hop Lun has completed in the last six months. In December 2023 Hop Lun acquired Rainbow West Apparel.

“We are continuing to seek opportunities for Hop Lun to expand and diversify its capabilities, increase scale and add more value for its customers,” said Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement. “We are working with Erik and the company’s leadership team to identify and pursue additional opportunities for growth, both organically and through strategic M&A.”

Latham & Watkins LLP provided legal counsel to Hop Lun on the acquisition of P.H. Garment.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About Hop Lun

Established in 1992 and headquartered in Hong Kong, Hop Lun is the leading designer and manufacturer of intimate apparels, and is the largest global provider of bra solutions.  It employs over 28,000 people across its global operations in Bangladesh, Indonesia, China and Hong Kong.

About P.H. Garment

Founded in 1988 in Hong Kong, P.H. Garment has grown into a premier private label manufacturer for innovative high-quality bras, shapewear and performance driven active wear through pioneering manufacturing know-how, a robust talent pool and strong customer relationships.  The company has three manufacturing plants in Bangladesh and China.

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TDR Capital to become majority owner of ASDA

Tdr Capital

We are pleased to announce that TDR Capital has agreed to acquire Zuber Issa’s shares in ASDA and will become the majority shareholder with 67.5% ownership. The transaction is expected to complete in Q3 2024.

TDR Capital invested in Asda alongside the Issa brothers, and together they took majority ownership of the business in June 2021. Since then, together with the other shareholders, TDR has supported Asda to accelerate its strategy, with a particular focus on delivering low prices to customers and expanding into the fast-growing convenience retail segment.

Gary Lindsay and Tom Mitchell, Managing Partners of TDR Capital, said: “We first invested into Asda over three years ago, seeing a huge opportunity to cement its position as one of the UK’s leading retail brands.”

“By combining our investment and sector expertise with Asda’s heritage of delivering value for customers, we have already made significant progress in transforming Asda. We have added a scale convenience business, grown Asda’s store footprint from 623 to 1,200 stores and food-to-go sites, and launched a hugely successful loyalty app, which now has six million active customers, accounting for around half of total sales. We remain focused on investing in Asda’s stores and online, as well as its colleagues through the highest pay in the traditional supermarket sector, to drive sustainable, long-term growth.”

“As majority owners, we will continue to work closely with the Asda management team and colleagues across the business to support its growth strategy, which we believe is the right one to continue to move Asda forward.”

Learn more about our investment in ASDA.

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Vendis Capital enters the cosmetic treatment market with the acquisitions of SOAP and BM Clinics

Vendis Capital

Vendis Capital, the European private equity fund specialized in the consumer sector, joins forces with the founders and management of 2 leading Dutch cosmetic clinic chains: SOAP and BM Clinics. Through further acquisitions and the opening of new clinics, the aim is to make the high quality treatments offered by these clinics available to an even larger group of consumers.

Cosmetic treatments are rapidly gaining popularity. Growing interest among women – and also increasingly men – in wellness and personal care has led to strong growth in a wide range of beauty, skin, laser and injectables (botox and fillers) treatments. Over 90% of Dutch people now have a positive or neutral opinion of these products and services, providing a strong foundation for further growth in the years to come.

For the most part, these treatments are still offered in small independent clinics in the Netherlands. Today, the new group has 17 clinics and plans to continuously expand this number. It is precisely because of the scale offered by the new group that the highest quality standards can be guaranteed, the latest treatments offered by the best practitioners and the company can remain at the forefront of quality and service.

SOAP was founded in Amsterdam in 2005 by sisters Esther and Stephanie Litjens. They brought a unique concept – inspired by ‘New York City Spa’s’ – to the Netherlands. SOAP has grown into a premium chain of boutique clinics in the Netherlands with a wide range of beauty treatments – from manicures to facials and from injectables to laser hair removal – and excellent service. Doctor David Mosmuller joined in 2019 to further expand the injectables treatments. The focus is on offering a more natural appearance according to the ‘no trace face’ principle; a fresher, younger appearance without looking treated. Today, SOAP is active in seven cities in the Netherlands with its unique concept.

BM Clinics was started in Eindhoven in 2013 by Monique Vonken and is a value-for-money provider, mainly of injectables. BM has a clear focus on making high-quality treatments accessible to a broad target group through affordable prices. BM sets the highest standards in terms of quality and service, with treatments carried out exclusively by doctors. Today, BM Clinics is active in nine cities in the Netherlands with its affordable concept.

Management of the new group includes Stephanie Litjens and David Mosmuller and is headed by newly appointed CEO David Sloff. David brings considerable experience from his previous roles at Diageo and Procter & Gamble. “I am impressed with the strong brands the founders have established. I look forward to accelerating the company’s growth together, supported by Vendis Capital’s expertise in building brands and their experience in rolling out winning concepts.”

Vendis Capital partner Vincent Braams: “We are excited about the market for non-invasive cosmetic treatments and see SOAP and BM Clinics as strong leaders in this rapidly growing and fragmented market. The group is well positioned to become a European leader through its unique consumer offerings, an experienced and reputable team of physicians, practitioners and staff, and a strong management team. Through the opening of new clinics and an active buy & build strategy we will together accelerate the growth of the group. We already expect to make additional acquisitions in the near future and add these clinics to the group.”

The acquisition of SOAP and BM Clinics and the subsequent formation of the new group represents the first investment for Vendis Capital IV.

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