Complementary acquisition brings together leaders in functional pots and decorative containers to create “one stop shop” for horticulture growers, retailers and distributors

LOS ANGELES, May 28, 2024  – The HC Companies, a leading North American manufacturer of horticultural containers, announced today the acquisition of Classic Home & Garden (CHG), a premier provider of decorative and functional products for the lawn and garden market in North America. Financial terms were not disclosed.

Headquartered in Shelton, CT, CHG designs, sources and sells decorative garden pots and an array of backyard décor products. In recent years CHG has introduced new product lines focused on water conservation, eco-friendly products and packaging, and optimized transport.

The HC Companies CEO Bob Mayer said CHG’s strength in decorative containers fits seamlessly with HC’s focus on functional grower products.

“This is a strategic and highly complementary combination of two companies that each have their own distinct value propositions,” said Mayer. “There is little overlap between the two and joining forces will create new opportunities for both businesses through cross-selling, production and distribution efficiencies, customer acquisition, channel penetration and product innovation. We are creating a ‘one stop shop’ that can simplify the value chain and streamline procurement and retail merchandising for our partners. We believe that is great news for growers, retailers, distributors and employees alike.”

CHG owner and CEO Fred Ryan will remain a significant investor in the combined business and will serve as President.

“I’m proud of the CHG team and the contributions they have made to the success of our business over the years,” Ryan said. “Our growth has been driven by a culture of innovation, design and unwavering commitment to quality and customer service. Those core values will continue to guide us as we step onto a larger stage with greater opportunity to expand our reach and our impact.”

Platinum Equity acquired HC in 2023 and the investment is led by the firm’s Small Cap team.

“When we acquired HC Companies we set out to create a best-in-class, diversified player of scale within the broader horticultural market,” said Platinum Equity Partner Jacob Kotzubei and Managing Director Nick Fries in a joint statement. “HC’s transformational acquisition of CHG is an exciting and important step in that process. We will continue to work with Bob and Fred to evaluate additional strategic M&A opportunities across the lawn and garden market.”

Willkie Farr & Gallagher LLP served as legal counsel and Alston & Bird LLP served as financing counsel to HC Companies on the CHG acquisition. Stout served as financial advisor to HC Companies.

Berkowitz, Trager & Trager, LLC and Locke Lord LLP served as legal counsels to CHG. Piper Sandler Companies served as CHG’s sell-side financial advisor.

About The HC Companies, Inc.
The HC Companies is a proud culmination of many legacy brands and continues to transform the horticultural industry through bold leadership, innovative manufacturing, and a comprehensive portfolio of products ideal for greenhouse, nursery, retail, and commercial markets. Headquartered in Twinsburg, Ohio, with production and distribution facilities throughout North America, HC manufactures growing solutions using the latest technologies and materials to satisfy the challenges of a continuously evolving industry. In addition to their horticultural containers, HC also supports a full line of sustainably sourced solutions including protective packaging, consumer products, growing containers, and more. For information on The HC Companies, visit hc-companies.com (growing containers) or hc-sustainable.com (sustainable products).

About Classic Home & Garden
Classic Home & Garden (CHG) is a leading provider of decorative planters and pots to national retailers, distributors, florists and garden centers across North America. Headquartered in Shelton, Connecticut, CHG’s entrepreneurial and talented team continuously innovates and challenges the status quo to provide exceptional products and service to customers. CHG supports a comprehensive line of planters in a variety of materials, along with a wide assortment of garden décor to create inspiring and impactful indoor and outdoor living spaces. Through strong relationships with breeders and growers, CHG has cultivated a deep market expertise to develop more functional, aesthetically pleasing products that better match consumer needs. For more information on CHG, visit classichomeandgarden.com.

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.

Polaris Flexible Capital (PFC I) is delighted to announce a strategic investment in InArea Group AB, a leader in the Swedish tiling, leveling, and flooring market. This partnership facilitates InArea’s entry into the Finnish market and supports the acquisition of Heikkinen Yhtiôt Oy and LTU Group Oy, enhancing its position as a Nordic leader in the industry.

Please find press release (English): InArea_press_PFC_240516

• KKR’s investment enables nexeye to accelerate further its ambitions to expand its optical and hearing care services within existing and new markets, with a continued focus on customer service, product quality and innovation.

• Under 3i’s ownership, nexeye has pursued a strategy focused on market expansion and championing a value-for-money offering for customers.

Gorinchem (NL) / London (UK), 25 April 2024 – nexeye (the “Company” or “Group”) today announced that a definitive agreement has been signed whereby investment funds and accounts managed by KKR agreed to acquire the Company from investment firm 3i Group plc.

Headquartered in Gorinchem, the Netherlands, nexeye is a leading European provider of value-for-money eye care operating under the Hans Anders, eyes + more and Direkt Optik labels. The Group, its labels and its 3,500 employees together provide affordable, high-quality eye and hearing care to customers across 719 stores in the Netherlands, Belgium, Germany, Austria and Sweden. Terms of the transaction were not disclosed.

Under 3i’s ownership, nexeye expanded into new markets, most notably with the acquisition of eyes + more in 2019, to enhance accessibility and affordability of essential eye and hearing care. Going forward, nexeye will be uniquely positioned to play a key role in addressing long-term trends driving increasing incidence of vision correction concerns, capitalizing on KKR’s extensive sector experience, global platform and successful track record in the industry.

Bart van den Nieuwenhof, CEO of nexeye, said: “I would like to thank 3i for a true partnership under which we successfully created a leading omnichannel optical platform. We strengthened and developed our organization, modernized and opened stores and realized a step change in omnichannel and digital innovation. Now, we are thrilled to continue this growth path together with KKR. We share a vision to establish nexeye as the leader in the European value-for-money optical sector, with a focus on customer service, product quality and innovation. I look forward to our partnership.”

Boris Kawohl, Partner, Consumer sector head at 3i, said: “We are proud of the transformation from Hans Anders at the time of our investment in 2017 to nexeye now. The best value-for-money offering with good quality products and services has been central to all our efforts. As a result, sales and EBITDA have doubled during 3i’s ownership period. We believe nexeye is now ready for the next international growth phase. We thank Bart and the whole nexeye team and wish them all the best going forward.”

Felix Gernburd, Partner at KKR, said: “We believe nexeye offers a differentiated value proposition for consumers. We are excited to invest in nexeye and to support its management team and employees in their continued ambitions to expand the Company’s footprint and offer the best quality eye and hearing care at affordable prices to consumers.”

Simon Bouchard, Director at KKR, continued: “KKR’s extensive experience and global track record of success in the optical sector underscores our commitment to investing in this important industry. We are confident that our investment in nexeye will best position the Company to capture future growth opportunities and establish it as the leader in the European value-for-money optical and hearing care sector in the long term.”

KKR is making its investment in nexeye primarily through its European Fund VI, an $8 billion fund that invests in the growth of leading businesses by providing access to KKR’s extensive network and business building resources.

The transaction is subject to customary closing conditions and regulatory approvals.

Jefferies LLC and UBS Investment Bank are acting as financial advisors and Kirkland & Ellis LLP is serving as legal advisor for KKR. Harris Williams and ING Corporate Finance are acting as financial advisors and Clifford Chance LLP is serving as legal advisor for 3i.

-ENDS-

About nexeye

Nexeye is currently active in five European countries with the eyes + more, Hans Anders and Direkt Optik chains. eyes + more operates with 283 stores in Germany, Austria, the Netherlands, Sweden and Belgium, focusing on affordable, fashionable eye wear and is one of the fastest-growing optical chains in Europe. Hans Anders, founded in 1982, is a leading value-for-money chain in the Netherlands and Belgium with 402 stores offering eye and hearing care. Direkt Optik has 34 optical stores across Sweden, is known for its 3 for 1 offer and highly appreciated for the expertise of the qualified opticians in its stores. In total, nexeye and labels employ more than 3,500 people.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit www.3i.com.

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PAI agrees to acquire majority stake in Audiotonix, Ardian retains minority stake alongside management
• The transaction marks a new chapter of growth for the world leader in premium audio equipment and software
• UK-headquartered Audiotonix is now active in 90 countries, with over 750 employees

Bridgepoint today announced the sale of its investment in Dorna Sports S.L. to Liberty Media in a transaction which values the company at €4.2 billion.

Dorna is the international sports management, media and marketing company which holds the global rights to organise the MotoGP and WSBK Championships, which together represent the two pre-eminent motorcycle racing series in the world. Bridgepoint has been an investor in the business since 2006.

The transaction represents a full realisation of Bridgepoint’s existing stake along with that of Canada Pension Plan Investment Board (‘CPP Investments’) and management, to Liberty Media, which holds the exclusive commercial rights for the FIA Formula One World Championship.

William Jackson, chairman of Bridgepoint Group plc and of Dorna Sports S.L. said: “We’re proud to have partnered with Dorna and its management team for the past 18 years during which time Moto GP has become one of the true global sports brands and enjoys huge success. The partnership has seen MotoGP grow its fan base across five continents and become the world’s most exciting sport.”

The transaction is subject to customary conditions and regulatory approvals. The transaction is expected to complete later in 2024.

Advisers for Bridgepoint included: Financial – Moelis (company, Bridgepoint, CPP); Morgan Stanley (CPP); Legal – Latham & Watkins; Garrigues (management); Uria (company); Accounting – Deloitte; Tax – EY.