Tag Archives: Consumer brands

Axcel sells Swedish Isadora to investor consortium

Axcel

Investor consortium acquires all the shares in Isadora from Axcel, who has been invested in the company since March 2018.

Founded in Sweden in 1983, Isadora is a leading cosmetics brand with presence in more than 40 markets, almost 200 employees and own production facilities in Malmö, Sweden, and Bern, Switzerland.

Since Axcel acquired the business in March 2018, the company has invested in a new and strengthened management team and organisation, improved its operational backbone and increased its share of online sales, which today accounts for approximately 20% of revenue.

“We have, over the last couple of years, worked closely with the owners and the Board to ensure positive development in our strategic initiatives and made good progress, despite the difficult market conditions after the outbreak of Covid-19. We thank Axcel for their support and contribution during this period,” says Rasmus Helt Poulsen, CEO of Isadora.

“We would like to thank the management team and all the employees for their effort and dedication under our ownership. We are pleased that we’ve been able to find a good new owner for the business and are looking forward to following the company’s development in the future,” says Christian Schmidt-Jacobsen, Managing Partner of Axcel.

The parties have agreed not to disclose any financial terms.

About Isadora

Isadora is a Swedish producer and distributor of cosmetics with production and headquarters in Malmö and additional production facilities in Bern, Switzerland. Its products for the eyes, face, lips and nails are sold by around 5,000 stores in 40 countries. The main markets are Sweden, the other Nordic countries, Germany and the Middle East. Products are sold directly to department stores, perfumeries, fashion outlets and online retailers in Sweden and six other European countries, and through distributors elsewhere.

 

About Axcel

Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies, with a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of EUR 2.8 billion. These funds have made 64 platform investments with well over 100 add-on investments, and 43 exits. Axcel currently owns 20 companies.

 

Further information

Axcel:

Christian Schmidt-Jacobsen, Managing Partner

Tel.: +45 21 78 36 97

E-mail: csj@axcel.dk

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Carlyle provides c. £370m in debt financing for Caffè Nero

London, UK – 17 January 2022 – Global investment firm Carlyle (NASDAQ: CG) today announced that its Global Credit platform has provided a debt financing package of c. £370 million to support the refinancing and future growth of The Caffè Nero Group (the “Group”), a leading operator of premium coffee shops.

Founded over 20 years ago by Gerry Ford, who remains CEO today, The Caffè Nero Group operates four premium coffee house brands: Caffè Nero, Coffee #1, Harris + Hoole, and Aroma. The Group has over 1,000 stores across 10 countries, of which c. 750 are based in the UK, and employs more than 7,700 people, with over 5,600 of these individuals based in the UK.

As a result of this transaction, the Group has reduced its debt exposure while strengthening the company’s balance sheet and providing it with additional funds to support its growth plans. The ownership structure of the Group remains unchanged, with the majority shareholding remaining with Gerry Ford and his family and friends.

Gerry Ford, Founder & CEO of The Caffè Nero Group, said: “Our new capital structure will allow us to focus on future growth, and I very much look forward to working with Carlyle as we leverage their financial and strategic expertise to take the Caffè Nero brand to new heights.”

Taj Sidhu, Head of European Illiquid Credit at Carlyle, said: “We look forward to supporting Caffè Nero Founder & CEO Gerry Ford and his team in their next phase of growth. This transaction is a great example of Carlyle’s flexible capital and track record in privately negotiating capital solutions for founders and entrepreneurs.”

Merrill Goulding, a Managing Director in Carlyle’s Illiquid Credit platform, said: “We are delighted to partner with Caffè Nero, a much-loved high street brand thanks to its reputation for providing high-quality, premium coffee over several decades. We are excited to support the many growth opportunities that lie ahead for the company as it continues to capitalise on its competitive offering and market-leading positioning.”

Within Carlyle’s $66 billion Global Credit platform, its Illiquid Credit business pursues investments in privately negotiated capital solutions primarily for upper middle market borrowers, including both private equity sponsored and family or entrepreneur-owned companies.

ENDS

 

Media Contact:

Andrew Kenny
andrew.kenny@carlyle.com
+44 7816 176120

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

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Ardian acquires from White Bridge Investments a majority stake in Biofarma Group, the Italian and European leader in the development, manufacture and packaging of food supplements, medical devices, probiotic-based products and cosmetics.

Ardian

  • 17 January 2022 Buyout Italy, Milan

The Scarpa family will retain its current 30% stake in the group in partnership with Ardian. Maurizio Castorina will continue to lead the company as CEO.

Today Ardian, a world leading private investment house, announces the acquisition from White Bridge Investments of a majority stake in Biofarma Group, a company active in the development, manufacturing and packaging of food supplements, medical devices and cosmetics. Germano Scarpa and Gabriella Tavasani, members of the founding family, will reinvest in the company alongside Ardian.

Under the leadership of CEO, Maurizio Castorina, Biofarma has become the Italian and European leader in the market, through the consolidation of complementary companies. Since 2016, the company has grown from around €30m in sales to more than €230m, thanks to double-digit organic growth and intense M&A activity (consisting of 5 acquisitions in 4 years). To date, almost 50% of its turnover is generated in international markets, benefiting from partnerships with several global clients.

As a result of the integration of recently acquired companies, and thanks to significant investments into R&D and state-of-the-art production facilities, Biofarma is now recognised as the innovation leader in its sector, offering customers a broad range of technological solutions and proprietary formulations, by anticipating market trends. This leading position, especially in the probiotics segment, has allowed the company to grow in Europe, by gaining market share with international clients.

The partnership with Ardian will facilitate further consolidation and international development, through continued investment in technological excellence, offer diversification and formulation of new products and, at the same time, preserve the current corporate culture.

“The nutraceutical sector is already benefitting from strong growth driven by secular trends, such as the importance attributed by customers to prevention, and Italy represents an excellence in this market recognised worldwide. Biofarma is undoubtedly the technological leader and natural consolidator of the industry, so we are very pleased to partner-up with the Group’s management and the Scarpa family on this project, which will lead to an acceleration of Biofarma’s growth, also at an international level.” YANN CHARETON, ARDIAN MANAGING DIRECTOR

“It is with great satisfaction that I look back at the last 2 years, in which the Biofarma Group achieved important milestones. I therefore want to thank our current financial partner White Bridge Investments and all the organization for the dedication and determination in achieving such ambitious targets, also considering the difficulties brought by the historic moment we are living in. The next years will be even more stimulating considering our willingness to make our Group compete at an international level, and we are convinced that with Ardian we will be able to achieve such goal, not only for the great professional capabilities of this prestigious financial partner, but also because we share the same fundamental corporate and entrepreneurial values, which are the ones that make a firm unique.”  GERMANO SCARPA, BIOFARMA GROUP CHAIRMAN

“This transaction with Ardian will allow Biofarma Group to become the first global player specialised in the nutraceutical sector. New resources will enable us to continue the excellent growth and aggregation path realised in recent years thanks to the support of White Bridge Investments, and evaluate new interesting opportunities for international expansion in Europe, APAC, and the United States. Moreover, Biofarma Group will continue to significantly invest in research and innovation, real differentiating factors in our market, allowing Biofarma consolidate its leadership position.” MAURIZIO CASTORINA, BIOFARMA GROUP CEO

“We have pursued with great success – also thanks to the important contribution of the management team led by Maurizio Castorina and of the Scarpa family – an industrial project of aggregation of leading Italian companies in the nutraceuticals space to create a player with an international leading position. We believe that the transaction with Ardian will allow the Biofarma Group to continue this path, leveraging on the competences, expertise, and financial resources of the new partner.” MARCO PINCIROLI, WHITE BRIDGE INVESTMENTS CHAIRMAN AND CEO

ADVISOR

  • Ardian

    • M&A Advisors: Nomura (lead advisor) | BNPP | Mediobanca – Banca di Credito Finanziario S.p.A.
    • Debt Advisor: Houlihan Lokey
    • Legal Advisors: Gianni & Origoni | Weil, Gotshal & Manges and Gattai, Minoli, Partners (financing)
    • Commercial Due Diligence: BCG
    • Financial Due Diligence: PricewaterhouseCoopers
    • Tax Due Diligence & Advisor: Gitti and Partners
    • ESG & Environmental Due Diligence: Tauw

  • WHITE BRIDGE INVESTMENTS

    • M&A Co-Advisors: Matteo Canonaco – Canson Capital | Fausto Rinallo – Ethica Group
    • Legal Advisors: avv. Matteo Delucchi – Giovannelli & Associati
    • Tax Advisor: Paolo Ludovici and Michele Aprile – Gatti, Pavesi, Bianchi e Ludovici
    • Vendor Financial Due Diligence: Marco Bastasin – Deloitte

  • SCARPA FAMILY

    • Financial, Tax and Legal: Molaro – Pezzetta – Romanelli – Del Fabbro & Partners

 

ARDIAN

Ardian is a world-leading private investment house with $120 billion assets under management across Europe, the Americas and Asia. The company, which is majority-owned by its employees, is driven by an entrepreneurial spirit and focused on generating for its investors superior performance globally. 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 800 employees in 15 offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages funds on behalf of approximately 1,200 clients across five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ardian.com

 

BIOFARMA GROUP

Biofarma Group is the leader in Italy and Europe in the development, manufacturing, and packaging of food supplements, medical devices, probiotic-based products, and cosmetics. The Group is the result of a path of aggregation of 6 complementary nutraceuticals companies (Nutrilinea, Pharcoterm, Apharm, Claire, Biofarma, and the ‘Health Science’ division of Giellepi). As of today, the Group has revenue in excess of €230m and more than 800 employees.
Biofarma offers its clients an integrated offer, from research and development, to manufacturing and packaging of finished dosage form products, including regulatory support. The Group is recognized as the innovative leader in its market, offering its customers a broad portfolio of technologies and proprietary formulations by anticipating market trends.
The company has 4 manufacturing facilities in Mereto di Tomba (UD) (Headquarter), Gallarate (VA), San Pietro Viminario (PD), and Cusano Milanino (MI), and has 3 research and development centers which employ more than 50 R&D specialists.

 

WHITE BRIDGE INVESTMENTS

White Bridge Investments is a holding company investing in Italian companies with high-growth potential, and with the opportunity to become consolidation platforms in their reference sectors. Since its foundation in 2013, White Bridge Investments completed a total of 32 investments, of which 12 direct investments and 20 add-ons through its portfolio companies.

Press contact

ARDIAN

Image Building

ardian@imagebuilding.it Tel.: 02 89011300

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BMG and KKR acquire music interests of rock icons ZZ TOP

BERLIN & NEW YORK–(BUSINESS WIRE)–

Global music company BMG and global investment firm KKR today announced that they have acquired the entire music interests of American rock icons ZZ Top.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211221005092/en/

Credit: Ross HalfinCredit: Ross Halfin

The transaction marks the latest significant music rights deal the two companies have struck together since announcing in March 2021 that they would join forces in the fast-growing market for music IP.

The ZZ Top agreement includes a buyout of the band’s publishing catalogue and their income from recorded royalties and performance royalties. Previously, BMG served as co-publisher and administrator of ZZ Top’s publishing catalog.

In 1971, Billy Gibbons (guitar, vocals), Dusty Hill (bass, keys, vocals), and Frank Beard (drums) released their debut album ZZ Top’s First Album. They would go on to release a total of 15 albums throughout the course of their 50 year career including the commercial breakthrough Tres Hombres (1973), Platinum-certified Degüello (1979), Gold-certified El Loco (1981), smash-hit Diamond-certified Eliminator (1983), 5x Platinum-certified Afterburner (1985), and the Platinum-certified Recycler (1990) and Antenna (1994).

Selling over 50 million albums worldwide, ZZ Top have earned four Gold, three Platinum, two multiple-Platinum album certifications, and one Diamond album. Known for their distinctive look and unabashed blues-rock inspired sound, the success of the group was driven by six #1 Rock singles and eight Top 40 hits including rock music staples ‘La Grange,’ ‘Tush,’ ‘Cheap Sunglasses,’ ‘Gimme All Your Lovin,’’ ‘Legs,’ ‘Got Me Under Pressure,’ and ‘Sharp Dressed Man,’ among many others.

In 2004, the group was inducted into the Rock & Roll Hall of Fame and their recently released documentary That Little Ol’ Band From Texas received a nomination for Best Music Film at the 2021 Grammy Awards.

ZZ Top manager Carl Stubner of Shelter Music Group said, “We are proud to continue working with and expand our long-standing relationship with BMG. This new deal ensures ZZ Top’s remarkable legacy will endure for generations to come.”

BMG CEO Hartwig Masuch said, “This deal is a testament to the success, staying power and continuing musical relevance of ZZ Top, but also to the power of our partnership with KKR. This agreement furthers our vision of providing artists and songwriters not just a financial exit, but also a vehicle committed to respecting and treasuring their artistry.”

Jenny Box, Partner at KKR, said, “We are excited to invest in ZZ Top’s iconic music and we look forward to collaborating with BMG and ZZ Top to further amplify the reach of their catalogue.”

KKR is investing in the catalogue through its private credit investment funds and vehicles and will own its interest in the music through its recently launched Chord Music Partners platform. Latham & Watkins LLP served as advisor to KKR on the transaction.

About BMG
Founded in 2008, BMG is both record label and music publisher in one, the first new global player in the music business of the streaming age. Named in 2020 one of the world’s Most Innovative Companies by Fast Company, BMG’s pitch is unique – a relentless focus on fairness and transparency and service to its artist and songwriter clients. BMG’s 19 offices across 12 core music markets now represent over 3m songs and recordings, and thousands of artists and songwriters attracted by its fresh approach which now includes production music, film and books as well as music publishing and recordings. BMG is owned by international media, services and education company Bertelsmann, whose other content businesses include the broadcaster RTL Group, the trade book publisher Penguin Random House and the magazine publisher Gruner + Jahr. With its multi-platform perspective, integrated technology platform and commitment to help artists maximize their income, BMG aims to be the best company in music to do business with. www.bmg.com

About KKR
KKR is a leading global investment firm that offers alternative asset management and 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 The 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 and on Twitter @KKR_Co.

For BMG:
Global: Steve Redmond steve.redmond@bmg.com
US: Paki Newell paki.newell@bmg.com

For KKR:
Cara Major or Miles Radcliffe-Trenner
media@kkr.com

Source: KKR

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L Catterton Asia Makes Strategic Investment in Ci FLAVORS

LCatterton

Partnership to Enhance New Brand Development and Accelerate International Expansion

【日本語版は英語版の後に続きます】

Tokyo, December 21, 2021 – L Catterton, the largest global consumer-focused private equity firm, announced today that its Asia fund has made a strategic investment in Ci FLAVORS (or the “Company”), which owns Cosme Company, a leading multi-brand beauty and personal care company in Japan focused on haircare and skincare. The firm will partner with Ci FLAVORS’ management team to bolster the Company’s growth through strategic initiatives such as enhancing new brand development and accelerating international expansion.

Ci FLAVORS boasts a strong portfolio of products, particularly in the mid-end segment of the Japanese haircare market, which has been growing faster than other segments. These products are sold widely throughout the country, especially in drugstores, the dominant sales channel for segment.

Building on its success, Ci FLAVORS continues to expand its portfolio of 37 brands and deepen its presence in drugstores. Its products, which enjoy best-in-class customer reviews and repurchase rates, are regularly refreshed to resonate with consumers. Coupled with its strategic introduction of new brands and sizeable social media following, the Company’s pipeline of attractive products positions it to further penetrate key channels. In addition, Ci FLAVORS has ventured abroad into 25 markets around the world, with a focus on China, where it is experiencing steady growth.

Ci FLAVORS President Yusaku Horiuchi commented, “We are excited about the next stage of our growth and believe L Catterton is the right partner for the journey ahead. As the experts in consumer investing, the firm brings in-depth understanding of the global beauty and personal care market. It has a proven track record of creating value and we look forward to leveraging its distinctive sector expertise and extensive network of industry contacts as we further enhance our portfolio, enlarge our international footprint, and enrich customers’ experiences.”

L Catterton has significant experience investing globally in the beauty and personal care space. Current and past investments in the space include ETVOS, ELEMIS, bliss, Intercos, Marubi, Cover FX, Function of Beauty, TULA, Sociolla, and MERIT.

“Ci FLAVORS has built a strong business, achieving a leading position in Japan and making inroads overseas,” said L Catterton Asia Partner Taka Shimizu. “The mid-end segment of the country’s haircare market has robust fundamentals and is expected to continue expanding, driven by consumers who are increasingly seeking innovative products in the space. Led by an experienced senior management team, the Company is poised to capture growth opportunities, and we are excited about its prospects.”

L Catterton Asia Principal Ray Yamaguchi added, “We look forward to partnering with Ci FLAVORS and sharing our category insights and operating skills with the Company as it continues to strengthen its performance across sales channels and geographic markets. This investment reinforces Ci FLAVORS’s position as it broadens its product suite, ramps up its global expansion efforts and thoughtfully develops more brands that consumers love.”

As part of the partnership between L Catterton and Ci FLAVORS, LVMH Moët Hennessy Louis Vuitton Japan K.K. President Norbert Leuret will assist the Company as a Senior Advisor following the completion of the transaction.

About Ci FLAVORS

Ci FLAVORS is the holding company for Cosme Company, a leading multi-brand haircare and skincare company headquartered in Tokyo, Japan. Since its founding by its President Yusaku Horiuchi in 2011, Cosme Company has continually created and developed unique brands in keeping with its core value of “understanding customers’ demands better than anyone else”. Its major brands include its subsidiary ViCREA, Ltd.’s “&honey”, an organic haircare brand that boasts nourishing and hydrating ingredients like honey and argan oil, and its subsidiary Stella Seed Co., Ltd.’s “8 THE THALASSO”, a haircare brand with the concept of treating hair like skin, thoroughly moisturizing strands and scalp.

About L Catterton

With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.

CONTACTS

Julie Hamilton (U.S.)
Managing Director, Firm Communications
media@lcatterton.com
+1 203 742 5185

Bob Ong (Asia)
Vice President, External Relations
bob.ong@lcatterton.com
+65 6672 7619

Ci FLAVORS株式会社への資本参加について

【2021 年 12 月 21 日、東京】このたび、コンシューマ業界に特化した世界最大級のプライベートエクイティ投資会社であるLキャタルトン（L Catterton、以下「Lキャタルトン」）のアジアファンド、Lキャタルトン・アジア（L Catterton Asia）は、へアケアを中心とした複数のパーソナルケアブランドを展開するコスメカンパニー株式会社（以下「コスメカンパニー」）を傘下に持つCi FLAVORS株式会社（本社：東京都北青山、代表取締役社長：堀内勇作、以下「Ci FLAVORS」）に対して資本参加を行うことで合意しましたのでお知らせします。Lキャタルトンは、Ci FLAVORSの現経営陣と密接に連携し、海外展開の加速や新規ブランド展開を含む戦略的イニシアティブを通じて、Ci FLAVORSの更なる成長を支援いたします。

Ci FLAVORSは、2011年に傘下のコスメカンパニーを設立以来、美容・健康分野において、お客様に求められる個性的なブランドを創り出し展開しております。国内のバラエティストア及びドラッグストアを中心に、主力である自社企画ヘアケア商品に加えスキンケアなど37ブランドを取り扱い、中国を始めとした世界25か国以上に商品を提供しております。今回の提携を機に、現在の主力事業であるパーソナルケア事業に加え、より高品質な商品・ブランド展開を行うプレステージ事業を立ち上げるほか、海外においてもより積極的な展開を行うことで、日本を代表とするビューティーカンパニーの一社となることを目標としております。

本件について、Ci FLAVORS代表取締役社長の堀内勇作氏は次のように述べています。「Lキャタルトンは、グローバルのコンシューマ業界に対する深い理解や、日本及び世界有数のコスメブランドへの豊富な投資実績を有しています。過去数年にわたり大きな成長を経験してきた当社にとって、更なる成長段階へと踏み出すにあたり重要だったのは、当社が新たに進出したい領域・地域におけるノウハウおよびネットワークを持つ戦略的パートナーを見つけることでした。今後はLキャタルトンが有する、業界における卓越した専門知識やネットワークを活用することで、海外展開やより高品質なブランド・商品のポートフォリオの拡充を図ってまいります。」

Lキャタルトンによる化粧品分野へのこれまでの投資実績としては、エトヴォス、ELEMIS、bliss、intercos、MARUBI、COVER FX、Function of Beauty、TULA、SociollaおよびMERITなどが挙げられます。

Lキャタルトン・アジアの清水俊孝パートナーは次のように述べています。「Ci FLAVORSが位置するマスプレミアムヘアケア業界は、ドラッグストアチャネルの拡大、若者のライフスタイルやSNSの活用、購買行動の変化などを背景に、今後も継続的な成長が期待されます。その中でもCi FLAVORSは、数多くのヒットブランドを継続的に生み出すことに成功し、同業界内で強いポジショニングを築いております。Lキャタルトンは、Ci FLAVORSの更なる成長に向けて、新たなブランド立ち上げや新規カテゴリーへの参入といった成長戦略を積極的にご支援させて頂く所存です。」

また、Lキャタルトン・アジアの山口龍平プリンシパルは次のように述べています。「これまで数多くのブランドを創出し消費者のニーズに応えてきたCi FLAVORSと次の成長ステージを共にする機会に恵まれたことを大変喜ばしく感じております。Lキャタルトンのリソースを結集し、日本を代表するビューティーカンパニーとなるというCi FLAVORSのミッションの遂行を最大限支援してまいります。」

なお、経営体制の一層の強化を図るため、LVMHモエ ヘネシー・ルイ ヴィトン・ジャパン株式会社の代表取締役社長であるノルベール・ルレ氏がCi FLAVORS株式会社のシニア・アドバイザーとして就任する予定です。

【Ci FLAVORS株式会社について】

Ci FLAVORSは、2011年に傘下のコスメカンパニーを設立後、美容・健康分野において、お客様に求められている個性的なブランドを創り出しています。代表的なグループ会社として、ハチミツをはじめとした保水成分にこだわったオーガニックヘアケアブランドの「&honey（アンドハニー）」等を展開する株式会社ヴィークレア、スキンケア発想の美容液ヘアケアの「8 THE THALASSO（エイトザタラソ）」等を展開するステラシード株式会社がございます。

【Lキャタルトンについて】

Lキャタルトンは、全世界で17オフィスを構え、複数のファンド戦略を通じ300億ドル以上の資金を有する、世界最大かつ最もグローバルに展開するコンシューマ業界特化のプライベートエクイティ投資会社です。Lキャタルトンのチームは200名以上の投資およびオペレーションのプロフェッショナルから成り、投資先の経営陣と世界中で連携し、深い業界知見、オペレーショナル・エクセレンス、そして様々なパートナーとのネットワークを有効活用することを通じ、経営戦略を実行していくことで投資先企業の成長を支援しています。Lキャタルトンは1989年より、業界を代表するコンシューマ・ブランドへの投資を250件以上行ってきました。Lキャタルトンの詳細については、www.lcatterton.comをご覧ください。

【本件に関するお問い合わせ先】
Lキャタルトン・ジャパン株式会社
電話番号： 03-4577-8940

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Litorina exits Euroflorist

Litorina
  • Euroflorist Intressenter, majority-owned by Litorina, divests Euroflorist to a consortium of highly regarded investors
  • During Litorina’s holding period Euroflorist has built an international footprint as a leading online platform for flower sales across northern Europe and the UK with an attractive and rapidly growing DTC box offering
Euroflorist

Litorina exits Euroflorist, a leading international online flower sales platform, to a consortium of investors led by Magnus Silfverberg, previously CEO of Bisnode and Betsson, and Johan Tjärnberg, CEO of Trustly and CEO/co-founder of Bambora, alongside a group of co-investors. The transaction was completed through divestment of the operating group of companies and the seller is Euroflorist Intressenter, where Litorina holds the majority of the shares. The transaction closed on December 17, 2021.

During Litorina’s holding period, Euroflorist has grown organically and through selective add-on acquisitions to become one of the leading European online platforms for flower sales, with activity in 11 countries. The company has successfully leveraged its extensive international florist network to drive growth in online sales. The traditional florist delivery model has been complemented by a differentiating and margin accretive DTC box business, which still holds substantial further penetration potential. Through excellent execution, the company successfully capitalised on the strong demand driven by the pandemic in 2020-21 and is well-positioned to benefit from the structural positive market shift. During Litorina’s ownership, the company more than doubled sales with earnings increasing more than fivefold.

“Euroflorist’s platform model for flower delivery comes with several attractive characteristics. At its core lies the high scalability and low capital requirements. Litorina invested with a view to leverage that model and capitalise on the increased e-com penetration to drive international growth, and I am pleased to see that this generated a good return for our investors.” says Jörgen Ekberg, Executive Chairman at Litorina. ”The international footprint of the business and the margin accretive DTC box offering constitutes an attractive foundation for continued success for Euroflorist”, Jörgen continues.

The sellers were advised by Carnegie, Vinge and PwC.

For further information, please contact:

Magnus Silfverberg, +46 (0) 702 714 700, CEO at Euroflorist
Jörgen Ekberg, +46 (0) 708 113 160, Executive Chairman at Litorina

Euroflorist is a leading international online flower sales platform with operations in eleven European countries. Every year, Euroflorist delivers millions of floral greetings, reception flowers, gifts and funeral wreaths through some 5,000 directly affiliated flower shops and external suppliers. Since its inception in 1982, Euroflorist has grown internationally through its own establishments and through acquisitions of florist networks. Euroflorist began to offer online flower gifts as early as 1995, which today represent approximately 85% of the total sales. For more information, please visit www.euroflorist.se.

Litorina, founded in 1998, invests in niche market-leading companies with headquarters in the Nordics. Litorina partners with management teams and entrepreneurs that want to take their companies to their full potential. Litorina aims to build larger, better and more sustainable companies by contributing relevant experience, knowledge, passion and resources to accelerate growth. For more information, please visit www.litorina.se.

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Marcone Acquires Professional Plumbing Group

Strategic Acquisition Expands Marcone into Plumbing Parts and Equipment

ST. LOUIS, Dec. 20, 2021 /PRNewswire/—Marcone, the leading residential appliance parts distributor and portfolio company of Genstar Capital, today announced that it has acquired Professional Plumbing Group (PPG), a distributor of plumbing products for repair and remodel applications, from Dunes Point Capital, LP.

PPG designs, manufactures, markets and distributes high-quality plumbing products. PPG’s portfolio includes products from two proprietary brands – Wolverine Brass, and Speakman – as well as third-party products across all of the leading brands. Wolverine Brass is a respected brand selling high quality plumbing products for the past 125+ years exclusively to professional plumbers and trade personnel; Speakman is a 150+ year-old brand widely known for high quality showers and other fixtures. PPG sells 20,000 SKUs to more than 10,000 customers including plumbing technicians, third-party distributors, ecommerce providers and retailers and through commercial channels such as hospitality. PPG has nearly 300 employees and is based in Concordville, PA.

Jim Souers, Chief Executive Officer of Marcone, stated, “PPG is a superb business and a leader in the plumbing specialty marketplace operating through highly diversified sales channels with long-established customer relationships. Its brands are well known and trusted among the trade community and is a strong strategic fit with our go forward strategy. We are excited to capitalize on increased spending on plumbing products from consumers, technicians and larger strategic accounts, and look forward to working together with PPG to accelerate growth. We are pleased to welcome PPG’s strong management team and organization to the Marcone family.”

Rob Rutledge, Managing Director at Genstar Capital, said, “When we partnered with Marcone and its management team earlier this year, we knew it was a truly outstanding business in its core market with a large opportunity to expand by selling other parts and services into the home. PPG represents an exciting step into the large and fragmented plumbing market, with material revenue opportunities across the combined customer base.”

About Marcone

Marcone is an authorized distributor for major brands such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung, L-G and many more.  Through its vast distribution network, Marcone supplies the largest inventory of original replacement parts in the country for household appliances such as refrigerators, ranges, dishwashers, microwaves, washers, and dryers.  Marcone exports to over 120 countries and also operates a comprehensive training institute offering quality business and technical training. Headquartered in St. Louis, Marcone has 12 regional distribution centers and nearly 50 retail centers.

About PPG

PPG is a distributor of plumbing products for repair and remodel applications. PPG distributes two proprietary brands (Wolverine Brass and Speakman), along with third-party plumbing products. PPG serves ten thousand customers across four channels: direct-to-trade, commercial, ecommerce, and retail. PPG is headquartered in Concordville, PA and employs nearly 300 people. For more information, visit https://www.ppg-inc.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, healthcare, and software industries.

Contact: Chris Tofalli                                                                                    
Chris Tofalli Public Relations                                                                        
914-834-4334

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Blackstone Growth (BXG) Announces Majority Investment in Supergoop!, Category Creator in SPF Innovation and Everyday Sun Protection

Blackstone

NEW YORK, SAN ANTONIO – December 20, 2021 – Blackstone (NYSE:BX) today announced that funds managed by Blackstone Growth (BXG) (“Blackstone”) have entered into a definitive agreement for a majority investment in Supergoop!, the first protective skincare brand that puts SPF at the forefront. The company, founded by former teacher and skincare industry pioneer Holly Thaggard, has enjoyed tremendous growth over the past five years given an increasing recognition of the importance of daily skin protection – a direct result of Supergoop!’s efforts for more than 15 years. Thaggard, Supergoop!’s CEO Amanda Baldwin and the existing senior management team will continue to maintain significant equity ownership in the business alongside Blackstone. The investment will help fuel Supergoop!’s commitment to launch category-creating innovations; drive consumer behavior change through education and best-in-class brand marketing; and expand the company’s national and global reach.

Supergoop! strives to educate and inspire the world to wear SPF. Every. Single. Day™. Thaggard launched the brand in 2005, after a close friend was diagnosed with skin cancer at age 29, with the mission of developing highly innovative dermatologist-approved, clean-ingredient SPF products that feel good to wear, make it easier to incorporate sunscreen into everyday routines and help consumers make daily sun protection a habit. Today, with nearly 50 formulas, Supergoop! has created a new category of daily-use SPF for everyone, from makeup-loving millennials to Gen Z skincare enthusiasts, wellness-minded men to six-month-old babies – truly spanning across generations and geographies. Its formulas are award winning – earning two TIME Magazine’s Best Invention of the Year honors and seven consecutive Allure Best of Beauty Seals, as well as being named one of WWD Beauty Inc.’s Power Brands. Rooted in its mission to educate and inspire, Supergoop!’s Ounce by Ounce program ships complimentary Supergoop! to classrooms across America and the brand recently received recognition on Inc.’s Best in Business: Most Inspiring Companies list.

“Over fifteen years ago, I founded Supergoop! with a mission to transform the sunscreen industry and eradicate skin cancer by making everyday essentials with SPF that people want to wear,” said Holly Thaggard, Supergoop! Founder and Chair of the Board. “Today, we’ve changed consumer behavior and attitudes toward SPF through innovative products and education. We couldn’t be more thrilled to join the Blackstone family of female-founded, category-creating companies to further that mission. Their experience of driving growth around the world is exceptional and will be critical to furthering our efforts to change the way the world thinks about sunscreen.”

Ann Chung, Global Head of Consumer for Blackstone Growth (BXG), said: “By creating a new category in SPF-focused skincare, Holly is the kind of innovative founder who is inspiring mission-driven entrepreneurs globally. Supergoop!’s everyday products that look and feel great while providing meaningful protection from sun damage are changing the way people view sunscreen. We’re proud to support the continued expansion of this business and to welcome Holly, Amanda and their incredible management team into the Blackstone family.”

“We are on an incredible journey at Supergoop! and are excited for the road ahead. As we look forward to the future, we wanted a partner who could help us drive the business to reach the next level,” said Amanda Baldwin, Supergoop! CEO. “We’re excited to work with the team at Blackstone because they think differently, reinforce our strengths and will help the team scale Supergoop! through expanded brand awareness, international exposure and out-of-the-box product innovation.”

Today’s investment in Supergoop! is the most recent example of a number of innovative female-founded companies Blackstone is proud to back. This includes in just the last two years SPANX, the mission-driven womenswear brand founded by Sara Blakely; Bumble, the online dating app where women make the first move founded by Whitney Wolfe Herd; Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon; Medable, a leading cloud platform for patient-centered clinical research co-founded by its CEO Dr. Michelle Longmire; Hotwire Communications, a leading provider of cutting-edge fiber-based telecommunication services co-founded by its CEO Kristin Johnson; and GeoComply, a global leader in geolocation compliance technology, co-founded by its Chairman Anna Sainsbury. This is in addition to female-led technology businesses in which Blackstone has invested, such as Ancestry.com, Articulate and Ellucian.

Investors who will continue to support Supergoop! in its next phase of growth include The Thaggard and Emery families, Encore Consumer Capital, CULT Capital, Green Park & Golf Ventures, CircleUp, Grace Beauty and SWAT Equity. Supergoop! was advised by Goldman Sachs and GreenbergTraurig. Blackstone’s financial advisor for the transaction was Raymond James & Associates, Inc. and legal advisor was Simpson Thacher & Bartlett LLP. Terms of the transaction, which is subject to customary closing conditions, were not disclosed.

About Supergoop!

Holly Thaggard launched Supergoop! to stop the skin cancer epidemic and change the way the world thinks about sunscreen. Supergoop! creates highly innovative, feel-good products that make integrating SPF into everyday routines easy (and fun!) in order to inspire consumers to do the number one thing they can for their skin- wear SPF! For more information, visit www.supergoop.com.

About Blackstone 

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contacts

For Supergoop!:
Ashley Freudenheim
supergoop@derris.com

For Blackstone:
Matt Anderson
matthew.anderson@blackstone.com
(518) 248-7310

Mariel Seidman-Gati
mariel.seidmangati@blackstone.com
(917) 698-1674

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Carlyle to acquire Altadia Group from Lone Star

Carlyle

17 December 2021 – Global investment firm Carlyle (NASDAQ: CG) announced today that it has agreed to acquire Altadia Group (“Altadia”) from an affiliate of Lone Star Funds (“Lone Star”), partnering with current management, led by Vincente Bagan and Antonio Blasco, the original founders of Itaca. The transaction is subject to customary regulatory approvals and is expected to close in H1 2022.

Headquartered in Castellon, Spain, Altadia is the largest global manufacturer of intermediate products for the production of ceramic tiles. The group, formed in 2021, was created as a result of the transformational merger between Esmalglass-Itaca and Ferro Tile Coatings, consolidating its leading market position across all ceramic specialties, including the production of inkjet inks, body stains, glaze stains, and frits & glazes. Servicing a diversified base of global customers, including international leading ceramic tile producers, Altadia employs more than 3,600 people across 19 countries with a global manufacturing footprint consisting of 32 production plants and 19 distribution centres.

Carlyle will support Altadia in accelerating its growth plan through the development of its leading R&D platform, and through strategic acquisitions to expand its presence further in international markets.

Vincente Bagan, CEO of Altadia, said: “Over the last four years, thanks to the company’s strong entrepreneurial spirit, unique service offering, and its long-standing relationships with a highly diversified and global customer base, Altadia has succeeded in transforming itself into a global market leader. We thank Lone Star for their support and partnership, particularly through the merger of Ferro with Esmalglass, as we focused together on positioning the company for future sustainable growth. We are delighted to partner with Carlyle as we look to advance our strategic growth objectives.”

Alex Wagenberg, Managing Director of the Carlyle Europe Partners advisory team, said: “We have followed Altadia’s success for a number of years recognising its strong track record of launching innovative and successful products and technologies, its market-leading position for tile coatings in a growing ceramics industry, and the investment it has made in its innovation and sustainability journey. The company has a strong reputation with its customers for its production of high-quality solutions that look to transform everyday spaces and surfaces. We are excited to partner with Vicente and his team and look forward to leveraging our significant expertise in scaling specialty Chemicals businesses to diversify the business into new growth areas.”

“We congratulate the management team and Altadia employees for their many accomplishments over the last four years, most importantly the quality products and innovations they have been able to offer their customers around the world,” said Donald Quintin, President, Lone Star Opportunity Funds. “Thanks to the energy and dedication that permeates the Altadia culture, and its strong global footprint, the company stands ready to embrace the many opportunities ahead. We wish the whole team well.”

—

 

About Altadia Group

Headquartered in Castellon, Spain, Altadia is the largest global manufacturer of intermediate products for the production of ceramic tiles. The group, formed in 2021, was created as a result of the transformational merger between Esmalglass-Itaca and Ferro Tile Coatings, consolidating its leading market position across all ceramic specialties, including the production of inkjet inks, body stains, glaze stains, and frits & glazes. Servicing a diversified base of global customers, including international leading ceramic tile producers, Altadia employs more than 3,600 people across 19 countries with a global manufacturing footprint consisting of 32 production plants and 19 distribution centres.

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

About Lone Star

Lone Star, founded by John Grayken, is a leading private equity firm advising funds that invest globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 21 private equity funds with aggregate capital commitments totaling approximately $85 billion. The firm organizes its funds in three series: the Commercial Real Estate Fund series; the Opportunity Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.

 

Press Enquiries:

 

Carlyle Contact:

Charlie Bristow

Charlie.bristow@carlyle.com

+44 (0) 7384 513568

 

Altadia Group Contact:

Begoña Baigorri

+34 600 596 843

bbaigorri@esmalglass-itaca.com

 

Lone Star Contact:

Christina Pretto

O: +1 212 849 9662

M: +1 917 499 4260

cpretto@lonestarfunds.com

 

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Afterburn Holdings, a Leading Franchisee of Orangetheory® Fitness, Acquires Washington State Area Representative

Brentwood

Brentwood Associates partners with Garnett Station Partners to finance the acquisition and support future growth

HOUSTON–(BUSINESS WIRE)–Afterburn Holdings (“Afterburn”), a leading Orangetheory® Fitness franchisee, has expanded into the Pacific Northwest with the recent acquisition of eighteen owned studios, thirteen sub-franchised studios, and area development rights to the state of Washington. Afterburn now operates and oversees 89 studios across several high growth markets and has grown its studio footprint by over four times since partnering with Brentwood Associates (“Brentwood”) in December 2018.

Concurrent with the transaction, Brentwood partnered with Garnett Station Partners (“Garnett Station”) to help Afterburn finance the acquisition. Brentwood and Garnett Station will continue to support Afterburn in its future growth.

Jim Potesta, President and CEO of Afterburn, stated, “We are excited to expand the Afterburn footprint into the growing Washington fitness market and to leverage our operational expertise to deliver a best-in-class Orangetheory Fitness experience to our members. We look forward to partnering with a highly experienced local team to return Washington to its strong, pre-pandemic performance, continuing our successful partnership with Brentwood, and cultivating a new partnership with Garnett Station.”

Chris Reekie, Principal at Brentwood, commented, “Jim and team have continued to demonstrate strong operational excellence, especially while navigating the challenging fitness environment of the last two years. The Washington market aligns well with Afterburn’s strengths in managing high-volume studios, and we look forward to seeing them deliver an exceptional member experience in their existing and new markets. Combined with our new partnership with Garnett Station, this strategic acquisition further solidifies Afterburn’s position as a top franchisee in the Orangetheory Fitness system.”

Alex Sloane, Co-Founder and Managing Partner at Garnett Station, added, “We are pleased to work alongside Brentwood to help Jim and the Afterburn team achieve this goal, and to be a partner to further accelerate Afterburn’s significant growth potential.”

Orangetheory® utilizes technology and a science-backed combination of endurance, strength and power to deliver superior fitness results. The Orangetheory® brand has garnered attention for the strong sense of community it generates within its member base. Classes are group-based and incorporate real-time results displayed on large screens in the studio, allowing participants to track progress on their goals in real time. The combination of exercise, technology and community renders the Orangetheory® workout a powerful tool, effective for all fitness levels.

Piper Sandler & Co. served as exclusive financial advisor to the seller of the Washington state area representative. Burr & Forman LLP served as legal counsel to Afterburn. Lane Powell PC served as legal counsel to the seller.

ABOUT AFTERBURN HOLDINGS

Afterburn Holdings is a leading franchisee and area representative of Orangetheory Fitness, founded in 2013 and headquartered in Houston, Texas. The Company operates and oversees 89 Orangetheory Fitness studios across territories in Texas, Florida and Washington.

ABOUT ORANGETHEORY® FITNESS

Orangetheory is a heart-rate based total-body group workout that combines science, coaching and technology to produce maximum results from the inside out. Workouts are typically 1-hour long and are led by trained coaches, incorporating endurance, strength, and power to guide members through 5 different heart rate zones. The workout aims to increase excess post-exercise oxygen consumption (EPOC or the ‘Orange Effect’) whereby participants can continue to burn a higher rate of calories for 24 to 36 hours after their workout. There are currently over 1,300 fitness studios worldwide in the Orangetheory system.

ABOUT BRENTWOOD ASSOCIATES

Brentwood Associates is a Los-Angeles based private equity investment firm with a 30+ year history of investing in middle-market growth-oriented consumer & technology-enabled business services companies. Core sectors of investment include branded consumer products and services, health and wellness, beauty, personal care, food & beverage, multi-unit restaurant and specialty retail, e-commerce, and education. Since 1984, Brentwood’s dedicated private equity team has invested in over 50 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner for entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visit www.brentwood.com.

ABOUT GARNETT STATION PARTNERS

Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include food & beverage, health & wellness, automotive and business services. Garnett Station’s culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit www.garnettstation.com.

Contacts

Kate Klein
(832) 910-9084

Read the Full Press Release Below:

Afterburn Holdings, a Leading Franchisee of Orangetheory® Fitness, Acquires Washington State Area Representative

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