Tag Archives: Consumer brands

BDC enters into partnership with Plug In Digital

Bridgepoint

Bridgepoint Development Capital (“BDC”) has signed an agreement to invest in Plug In Digital (“PiD”), one of the largest independent video game distributors and a rising video game publisher. Existing shareholders, including Francis Ingrand, are reinvesting significantly in the operation, while the transaction enables the opening of PiD’s capital to its employees.

Plug In Digital orchestrates a $75m funding round to finance its organic development, including the publishing of high-potential indie games meeting PiD editorial line as well as its external growth strategy, targeting notably video games’ developers with own-IP on which the company can further capitalize. Financing is provided by Eurazeo in the form of unitranche debt and includes a dedicated and committed line to finance future external growth.

Plug In Digital was founded in 2012 by Francis Ingrand, quickly growing into a full-service games distributor and publisher for today’s most exciting games across PC, cloud, console and mobile platforms. The company’s two publishing labels, Dear Villagers and PID Games, boast an impressive portfolio that spans a variety of today’s most popular genres, reaching players across all platforms and delivering playful, distinctive and audacious games to global audiences.

Francis Ingrand, CEO and Founder of Plug In Digital commented: “We are excited to work with Bridgepoint for the next steps of our ambitious development project. We are confident they are the right partner to accompany us in our growth journey, mixing organic development and targeted strategic acquisitions. We are pleased to have attracted Bridgepoint who believes in our differentiating model, our strategic direction and our people.”

Plug In Digital has seen a 50 percent+ yearly growth over the past five years, hitting a successful stride with its flagship publishing label Dear Villagers which has launched more than eight cross-platform, cross-gen titles into the global games marketplace since its inception in early 2019. One of its most recent titles, The Forgotten City, has been lauded by international critics for its unique, eye-catching design as well as its exceptional narrative and dialogue and has been a remarkable commercial hit. PID Games, the second label under the Plug In Digital umbrella, is focused on offering studios a flexible publishing or co-publishing support on PC, Console and Mobile. PID is on track to publish 30 games this year from its global development partners.

Olivier Nemsguern, Partner at Bridgepoint Development Capital and responsible for investment activities in France added: “We have been following the Video Games sector closely for a period of time and are impressed by Plug In Digital’s journey to-date. The company is well-positioned in a really exciting market, and has built a great brand in the Indie publishing space, relying on its committed and skilled leadership team. We look forward to partnering with the Company during its next chapter of development.”

Bridgepoint Development Capital, through its BDC IV fund, has concluded through this transaction, its fourth investment in Europe, and first in France.

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KKR and Apache Capital form £1.7bn strategic partnership to deliver next phase of build-to-rent multifamily housing pipeline with Moda Living

  • KKR and Apache Capital to invest £610m in purpose-built apartments designed for rent in core cities across the UK
  • The collaboration will deliver over 4,000 high quality rental homes as part of a £1.7bn development pipeline
  • Properties will be developed and operated by Moda Living

London, 22 November, 2021 — KKR, a leading global investment firm, and Apache Capital, a leading investment manager focused on UK residential real estate, announced that KKR and Apache Capital have established a joint venture to create a UK build-to-rent (‘BTR’) multifamily housing investment platform.

KKR and Apache Capital will invest £610m to fund the delivery of BTR projects in core cities across the UK that will be developed and operated by Moda Living (‘Moda’), with sites already identified in Birmingham, Brighton and Hove, and London.

The developments will deliver over 4,000 apartments that are purpose-built and designed for rent as part of a £1.7bn development pipeline. The homes will be built to the latest design specifications, with high levels of on-site amenities and service provision for residents.

Rosa Brand, Director at KKR, said: “We are excited to work alongside Apache Capital, and Moda Living, both highly experienced strategic partners with excellent track records, over the long term, to deliver a best in class portfolio in the build-to-rent residential sector, which remains a thematic priority for KKR”.

John Dunkerley, CEO and co-founder of Apache Capital said: “Our strategic partnership with KKR demonstrates the growing maturity of the UK build-to-rent sector, which continues to attract global institutional capital thanks to its favourable demand-supply dynamics and defensive, counter-cyclical characteristics.

“This collaboration is consistent with our strategy of creating a premium product marked by high levels of service and amenity provision and we look forward to seeing the projects completed.”

Tony Brooks, Managing Director at Moda Living, said: “With the backing of Apache Capital and KKR we will deliver the next generation of build-to-rent neighbourhoods that will set new standards for style and service while meeting the growing demand for high quality rental housing that is responsive to modern lifestyles”.

The joint venture between Apache Capital and KKR follows the success of Apache Capital and Moda’s second operational multifamily BTR scheme, Moda, The Lexington, in Liverpool, where 60 percent of apartments are already leased two months after launch. Moda’s flagship scheme, Moda, Angel Gardens, in Manchester, is fully stabilised, having set new sector benchmarks for rents achieved.

KKR’s investment was made via KKR Real Estate Europe Partners Europe II, a US$2.2 billion fund dedicated to value add and opportunistic real estate investments in Western Europe.

-ENDS-

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.

About Apache Capital
Apache Capital is an investment manager focused on residential real estate for rent with a proven track record of creating value through funding, developing and operating its assets under management.

Apache Capital aims to raise the standard of living for all generations across the UK, building a portfolio of digitally-enabled, consumer-focused brands that deliver for investors and create a more thoughtfully designed, more convenient and aspirational lifestyle for customers.

Investing for the long-term, Apache Capital’s philosophy has been to focus on demographically and structurally supported asset classes and the company is behind sector-shaping investments across purpose-built student accommodation, senior living, multi-family and single-family housing.

Apache Capital. Invest in Living. Website: www.apachecapital.co.uk

About Moda Living
Moda Living is the UKs leading developer and operator of rental communities. Founded in 2014, the business has built a UK-wide pipeline of more than 18,400 homes with a combined GDV in excess of £6 billion. Moda operates a family of living sector platforms with leading global institutional investment partners. Moda’s vertically integrated model designs, builds and operates next generation spaces to live, work and play. Moda continues to push the boundaries of style, service and innovation to craft considered, diverse residential communities providing different products at different price points for different lifestyle requirements. Moda’s core brand foundations focus on outstanding customer service, integrated technology and health and wellbeing to provide an optimum rental experience and a better quality of life.

Media Enquiries:

KKR

Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
Telephone: +44 20 7251 3801
Email: kkr@fgh.com

Apache Capital

Tom Roberts
Blackstock Consulting
Telephone: 07722440999
Email: Tom@blackstock.co.uk

Moda Living

Emma Shone
Corporate PR Manager, Moda Living
emma.shone@modaliving.com
07538555332

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CVC Fund VIII and HPS Investment Partners to acquire stakes in Authentic Brands Group

CVC Capital Partners

World-leading private equity and investment firms, alongside ABG’s existing equity partners, to support the company in its next phase of global growth

Authentic Brands Group (“ABG”), a global brand development, marketing and entertainment company, today announces that funds advised by CVC Capital Partners (“CVC”) and HPS Investment Partners (“HPS”) have signed definitive agreements to purchase significant equity stakes in the company from certain current ABG shareholders. The transaction values the company at $12.7 billion in enterprise value.

“We have known CVC and HPS for many years and are thrilled that they are coming on board as significant stakeholders in ABG. Their commitment is a testament to the exceptional work our team has put forth as well as CVC and HPS’s confidence in our future growth,” said Jamie Salter, Founder, Chairman and CEO of ABG. “The entire ABG team – from our leadership to the director of first impressions – has done an incredible job of building a sustainable and scalable business with a laser focus on brand development, digital innovation, e-commerce, specialty retail, expansion into new verticals and proven business models.”

Since its founding in 2010, ABG has experienced significant growth by implementing a proven playbook that connects strong brands with best-in-class licensees and a network of partners to optimize value in the marketplace. ABG’s portfolio has grown to more than 30 brands that are diversified across the fashion, luxury, outdoor, home, entertainment, events, media and fine arts sectors. The acquisition of Reebok, which closes in Q1 of 2022, will bring ABG’s portfolio to more than $20 billion in annual system-wide retail sales with global distribution in more than 150 countries and highlights ABG’s ability to successfully integrate world-class brands into its unique platform.

“The investments from CVC Capital and HPS Investment Partners are a strong vote of confidence in ABG’s long-term vision and strategic approach,” said Nick Woodhouse, President and CMO of ABG. “We are primed to continue furthering our global presence, acquiring new entertainment and lifestyle brands and driving organic growth for our portfolio.”

“We have followed ABG’s success story for several years and are delighted to be partnering with the company and its investor group,” said Chris Stadler, a Managing Partner at CVC. “The power of the ABG platform is evident in its growth to date, and we believe the company is only beginning to realize the full benefit of its scale and diversification. We look forward to working with Jamie, Nick and the talented team at ABG to create even greater value together.”

“ABG has shown that its unique business model can successfully innovate and grow brands across a broad spectrum of consumer categories, and we are excited to leverage CVC’s experience in the consumer, retail and media and entertainment sectors to support the company’s growth ambitions,” said Chris Baldwin, a Managing Partner at CVC. “We plan to work closely with the ABG team to execute on their strategic priorities, particularly around international expansion, given our extensive global footprint and experience in local markets around the world.”

“We are thrilled to partner with Jamie and his outstanding team, who we have known for nearly a decade, to support ABG’s ongoing development and growth strategy as it continues to lead the market in the brand licensing arena, underpinned by a highly differentiated and innovative acquisition and brand management platform,” said Scot French, a Governing Partner of HPS.

BlackRock Long Term Private Capital will retain its position as ABG’s largest shareholder, which it has held since 2019. Simon, General Atlantic, Leonard Green & Partners, GIC, Brookfield, Lion Capital, Jasper Ridge Partners and Shaquille O’Neal will continue to hold significant equity positions in the company.

In connection with the transaction, BofA Securities, Inc. was the M&A advisor for ABG. BofA Securities, Inc. and Goldman Sachs & Co. LLC also acted as financial advisors for ABG. Latham & Watkins LLP acted as legal counsel for ABG.

Upon closing of the transaction, which is expected in December 2021, CVC and HPS will join ABG’s Board of Directors.

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Antelope Acquires Bocce’s Bakery

Alpine

SAN FRANCISCO–(BUSINESS WIRE)–Antelope, an omni-channel, pet consumer platform focused on delivering high-quality, natural pet products, announced its acquisition of Bocce’s Bakery (“Bocce’s”), an all-natural, limited-ingredient pet treats company. Bocce’s will continue to operate under its brand name within Antelope.

Bocce’s Bakery was founded in 2010 by Andrea Tovar after Andrea had a difficult time finding simple, natural treats for her dog, Bocce. Andrea started baking treats in her NYC apartment with the belief that dogs deserve real food. Natalia Tovar, Andrea’s sister joined the business in the first year. Eleven years later, Bocce’s has grown into one of the fastest growing brands in pet treats, with a full line of treats of over 75 SKUs of all-natural, innovative recipes for dogs (and soon cats) of all ages. Bocce’s treats are carried in thousands of retail stores across the nation and can be found in local independent pet stores, natural grocery chains, and national retailers such as Target, Petsmart, Petco, and Shake Shack. Andrea and Natalia will continue as Senior Advisors to the company.

Antelope was launched by Alpine Investors (“Alpine”) and Founder and CEO, Wendy Wen, with the mission to build a next-generation conglomerate of high-quality natural pet brands. Wendy was previously the Co-Founder and COO of SENREVE, a digitally-native, omni-channel luxury handbag brand, where she’d built the business from the ground up to a globally recognized name.

“We started Bocce’s in a small oven and could not be more proud of how our customers have stood behind our mission over the past decade. In considering the next step in Bocce’s growth trajectory, we have found Alpine to be unique in their energy, enthusiasm, and care for our brand,” said Andrea. “We are confident that Alpine and Wendy will continue to build on Bocce’s strong foundation while maintaining Bocce’s quality promise and our commitment to making a positive change in the pet aisle. We are excited about the opportunities that partnering with Alpine will unlock for Bocce’s and look forward to this next chapter in the Bocce’s story.”

“The company that Andrea and Natalia have built is unmatched in its product, branding, and values,” said Wendy, CEO of Antelope. “I am thrilled to partner with Bocce’s and am committed to preserving the unique DNA that has made Bocce’s so successful while investing in the infrastructure to help the brand scale to the next level.”

About Bocce’s Bakery

Bocce’s was founded in 2010 in a West Village kitchen with a mixer, an oven, and a scruffy mutt named Bocce with the belief that dogs deserve better. Better food with fresher, simpler, all-natural ingredients, and lots of treats! Bocce’s treats can now be found nationally – stocked in independent pet stores across the US, retailers such as Target, Petco, Chewy, and specialty locations such as Shake Shack. To learn more, visit: www.boccesbakery.com

About Antelope

Antelope was founded in August 2021 with the mission to elevate the lives of all pets by delivering the highest quality products across all consumable categories. Antelope aims to buy, build and grow the best pet consumable brands across all verticals. Business owners interested in learning more about partnerships with Antelope should contact Tyler Frances at tyler@alpineinvestors.com. To learn more, visit: www.antelopepets.com.

About Alpine Investors

Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a CEO program which allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit www.alpineinvestors.com.

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Unilever to sell its Tea business, ekaterra, to CVC Capital Partners Fund VIII for €4.5bn

CVC Capital Partners

Unilever today announced that it has entered into an agreement to sell its global Tea business, ekaterra, to CVC Capital Partners Fund VIII for €4.5 billion on a cash-free, debt-free basis.

ekaterra is the world’s leading Tea business, with a portfolio of 34 brands including Lipton, PG tips, Pukka, T2 and TAZO®. The business generated revenues of around €2 billion in 2020.

Alan Jope, CEO of Unilever said: “The evolution of our portfolio into higher growth spaces is an important part of our growth strategy for Unilever. Our decision to sell ekaterra demonstrates further progress in delivering against our plans.

“We are proud of the place that our Tea business has in our company’s history. We look forward to seeing ekaterra, with its strong brands and global footprint, prosper under CVC Fund VIII’s ownership.  I would like to thank our Tea colleagues around the world for their passion and commitment to our Tea business and wish them well for the future.”

Pev Hooper, a Managing Partner at CVC Capital Partners said: “ekaterra is a great business, built on strong foundations of leading brands and a purpose-driven approach to its products, people and communities.  ekaterra is well positioned in an attractive market to accelerate its future growth, and to lead the category’s sustainable development. We look forward to working with the team to realise ekaterra’s full potential.”

John Davison, CEO of ekaterra, said: “ekaterra is a strong business with positive momentum and has an exciting future ahead under the new ownership of CVC Fund VIII. We look forward to the next stage of our journey as the world’s leading Tea business.”

Completion of the transaction is subject to completion of works council consultation processes and the receipt of certain regulatory approvals. Completion is expected in the second half of 2022. The transaction perimeter excludes Unilever’s Tea business in India, Nepal and Indonesia as well as Unilever’s interests in the Pepsi Lipton ready-to-drink Tea joint ventures and associated distribution businesses.

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3i invests in Mepal to accelerate international growth and strengthen its online business

3I

3i Group plc (“3i”) announces that it has agreed to invest in Mepal, a leading Dutch lifestyle consumer brand that is known for its innovative, high-quality and sustainable products for storing and serving food and drink.

Headquartered in Lochem, the Netherlands, Mepal offers food storage boxes, tableware and on-the-go items (e.g. lunchboxes, bottles and flasks) for adults and children which are sold through mass and specialty retail channels, e-commerce partners and Mepal’s own online channels. 3i is investing to support further growth in Mepal’s existing core markets of the Netherlands, Belgium and Germany as well as develop new markets in Europe. In addition, 3i will support Mepal in growing its online business, further benefitting from increased e-commerce opportunities.

Mepal has a strong track record in both innovation and design and has won numerous leading design awards. The company’s products are renowned for their original and premium design, functionality, convenience, quality and sustainability, resulting in market-leading levels of customer satisfaction.

Mepal has a strong focus on ESG; the majority of its products are made using 100% recyclable materials and most of its products are proudly made in Holland. Customers can re-order parts to extend the lifecycle of their products and the products themselves help reduce food waste and the usage of single-use packaging, such as plastic bags and single use cups and bottles.

Pieter de Jong, co-Head Private Equity 3i, commented: “We are excited about partnering with Rutger de Korte and his team to continue Mepal’s success as a winning customer proposition. We see substantial international growth opportunity through leveraging the company’s existing online capabilities as well as continuing to build on its strong presence in retail channels in the Netherlands, Germany and Belgium. We look forward to working with the management team to achieve Mepal’s ambitions as a premium household brand.”

Rutger de Korte, CEO Mepal, said: “Mepal is a very strong brand with 70 years of heritage. I am confident that with 3i as our partner, we will be able to achieve our growth ambitions in the years to come. I am looking forward to teaming up with 3i and taking the next steps together to continue the successful growth strategy of Mepal, through delighting our customers with smart and innovative products that last a lifetime.”

The transaction is subject to customary antitrust approvals.

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SPANX, Inc. and Blackstone Close Majority Sale, Secure New Investors Including Oprah Winfrey, Reese Witherspoon and Whitney Wolfe Herd

ATLANTA & NEW YORK – November 18, 2021 – SPANX, Inc., the mission-driven womenswear brand founded by Sara Blakely in 2000, today announced that funds managed by Blackstone (“Blackstone”), a leading global investment firm, have completed their previously announced majority investment in the business at a valuation of $1.2 billion. Additional new investors in SPANX participating in the closing include iconic female entrepreneurs Oprah Winfrey, Reese Witherspoon and Whitney Wolfe Herd, as well as female-founded investment funds G9 Ventures, founded by Amy Griffin, and Able Partners.

SPANX was founded by Blakely 21 years ago when she took $5,000 in savings and set out to take on the male-dominated shapewear and undergarment industry. Blakely, who had never taken a business class in her life and was selling fax machines door to door at the time, wrote her own patent and invented the first SPANX undergarment in her apartment. Without ever taking any outside investment, she went on to turn SPANX into a global powerhouse that has changed the lives of women all over the world. Blakely has been named one of TIME magazine’s 100 Most Influential People in the world and was featured on the cover of Forbes magazine as the youngest self-made female billionaire. Through her personal foundation, Blakely has given millions of dollars to help elevate other women and in 2013 she signed the Giving Pledge, promising to donate half her wealth to philanthropy.

“I’m thrilled to welcome Oprah Winfrey, Reese Witherspoon, Whitney Wolfe Herd, G9 Ventures and Able Partners as investors of SPANX! This is an incredible, ‘pinch-me!’ full-circle moment because both Oprah and Reese have been longtime supporters of SPANX, and Whitney has been a gamechanger for women in business. Oprah was a big reason for SPANX’s early success when she named it one of her iconic ‘Favorite Things’ in 2000,” said Blakely, who now serves as Executive Chairwoman of SPANX. “To have the support of these smart, thoughtful, world-class female-founders who have also disrupted their industries to elevate and support women means everything. As we like to say at SPANX, ‘we’ve got your butt covered!’ With these new partnerships, that promise is as true as ever. I can’t wait to see what’s in store for the brand — and most importantly — for our customers.”

Oprah Winfrey said: “When Sara first came on The Oprah Show to tell us about her idea for SPANX, I knew it was brilliant. We’d all been cutting off our panty hose for years! So from the moment I wore my first pair, they became a staple in my wardrobe. It’s remarkable the business that Sara and her team have created, with the comfort and support of all women at the heart of their creations, and I’m happy to be part of the evolution.”

Reese Witherspoon, Founder of Hello Sunshine, said: “As a self-made founder who has built an absolute powerhouse of a brand, Sara is an inspiration to female entrepreneurs everywhere. In addition to developing a remarkable product and business that literally supports women every day, Sara has become a role model for leveraging your success to elevate other women. I’m so proud of Sara and the entire SPANX team, and I cannot wait to see what the future has in store for this incredible company.”

Ann Chung, Global Head of Consumer for Blackstone Growth (BXG), said: “Since creating the shapewear category more than two decades ago, Sara has built the company into a leading apparel brand and online force – and they’re just getting started. We’re so excited to partner with their team and this iconic group of co-investors to further accelerate the business’ growth through new product innovation, geographic expansion and continued digital transformation.”

As previously announced, Blackstone and SPANX intend to create an all-female SPANX board of directors, and Blackstone’s investment team for the transaction was all women. Blakely will continue to maintain a significant equity stake. Blakely, along with SPANX’s existing senior management team, will also continue to oversee daily operations.

Blackstone’s investment in SPANX, made through its Blackstone Growth (BXG) and Tactical Opportunities businesses, is the most recent example of a number of innovative female-founded companies the firm is proud to back. This includes in just the last two years 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; Hotwire Communications, a leading provider of cutting-edge fiber-based telecommunication services co-founded by its CEO Kristin Johnson; GeoComply, a global leader in geolocation compliance technology, co-founded by its Chairman Anna Sainsbury; and Medable, a leading cloud platform for patient-centered clinical research, co-founded by Dr. Michelle Longmire. This is in addition to female-led technology businesses in which Blackstone has invested such as Ancestry.com, Articulate and Ellucian.

SPANX was represented by Goldman & Sachs and Allen & Co. in the transaction, with legal representation from Cravath, Swaine and Moore. King & Spalding served as Blakely’s legal advisor. Blackstone’s financial advisor for the transaction was JPMorgan and legal advisor was Simpson Thacher & Bartlett LLP.

ABOUT SPANX, INC.

Founded by Sara Blakely in 2000, SPANX, Inc. is a dynamic women’s brand that has revolutionized an industry and changed the way women around the world get dressed. The mission of the brand is to make things better and more comfortable for women. Through tremendous consumer demand, the company has expanded into offering both innerwear solutions and figure-flattering outerwear, activewear and swimwear. SPANX is constantly identifying and solving problems from a women’s point of view. With smarter, more comfortable must-haves including leggings, denim, the Perfect Pants collection, activewear, intimates and innovative shapewear, SPANX elevates women through product and empowers them to look and feel their best. Further information is available at www.spanx.com. Follow SPANX on Facebook, Twitter and Instagram @SPANX.

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, 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.

MEDIA CONTACTS

SPANX:
Lauren Hauther
(470) 868-8492
LHauther@spanx.com

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

OR

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

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Ardian provides Berlin Brands Group with additional growth capital

Ardian

Berlin / Frankfurt am Main, September 1, 2021 – Ardian, a world leading private investment house, announces today that it is providing additional growth capital to Berlin Brands Group (“BBG”), a global e-commerce company based in Berlin, through its fifth generation of Expansion Funds. Over the course of the transaction, Ardian will once again become a minority shareholder in BBG and support the company during its next growth phase alongside majority shareholder and CEO Peter Chaljawski, as well as BBG’s new and second largest shareholder, Bain Capital.

Berlin Brands Group is a pioneer in direct-to-consumer (D2C) brand marketing. The multi-brand company sells a range of over 3,700 products under 34 own brands and via 100 online channels across 28 countries. The brands encompass the household appliances, consumer electronics, gardening and fitness equipment segments, including Klarstein (klarstein.de), auna (auna.de), blumfeldt (blumfeldt.de) and Capital Sports (capitalsports.de).

As a key part of its next growth phase, BBG launched a comprehensive M&A roll-up strategy in 2020 focusing on acquiring, integrating and scaling e-commerce brands across its platform. Ardian supported the group’s management in implementing this strategy and now plans to further contribute to establishing BBG as the leading global D2C consolidator.
Ardian was already invested in BBG via its third generation of Expansion Funds from July 2015 to September 2021.

“We have benefitted greatly from Ardian’s expertise as a reliable investment partner in recent years. We are therefore thrilled that Ardian will also accompany us during our next growth phase.” PETER CHALJAWSKI, Founder and CEO of BBG

“BBG continues to show significant growth potential and we fully support the company’s strategy, as well its excellent management team led by Peter Chaljawski. We look forward to continue our successful partnership.” MARC ABADIR, Managing Director in Ardian’s German Expansion Team

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$120bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen 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). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT BERLIN BRANDS GROUP

Berlin Brands Group (BBG) is a global e-commerce company and one of the pioneers in the direct-to-consumer business. The Berlin-based hidden champion currently sells over 3,700 every day and trendy products across 34 of its own e-commerce brands. The goal: to become one of the world’s leading
e-commerce companies with a ‘global house of digital brands’.

www.berlin-brands-group.com

Press contact

ARDIAN – CHARLES BARKER CORPORATE COMMUNICATIONS

Peter Steiner

ardian@charlesbarker.de Tel: +49 69 79409027

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21 Invest Italy signs a binding agreement to acquire Zanzar, a leading Italian group in insect screens

21 Invest Italy is pleased to announce that it has entered into a binding agreement to acquire a majority stake in Zanzar, European leader in the development and production of insect screens based in the South of Italy.

Founded in 1985 by Angelo L’Angellotti, Zanzar was at first focused on the production of insect screens and then enlarged its product offer to other window accessories like shutters, blinds, awnings and pergolas thanks to recent acquisitions.

Zanzar is still managed by the founder and has experienced a strong growth over the years, reaching a total turnover of about €M 80, about 35% of which is generated on international markets with a total workforce of about 400 employees.

Across its 11 production sites, Zanzar has developed an extremely efficient operating model, that ensures customers can experience a high level of service and quality, with extremely fast delivery times. The continuous investments made over the years and still underway will provide the company with significant room to grow, both increasing penetration in already served markets and expanding its international footprint.

21 Invest will support the company’s development on an organic basis, including the integration of the companies acquired in the past years, as well as, through a build-up strategy, with a number of potential targets already identified in order to expand product range and market coverage.

The current management team will continue running the company, headed by the Chairman Angelo L’Angellotti. The project also envisages the managerialization of the company, through the involvement of professionals, either already with the company or to be recruited, with the ultimate aim of strengthening Zanzar’s organizational structure.

Alessandro Benetton, Founding Managing Partner of 21 Invest states: “We are delighted to support Zanzar in pursuing further development. Partnering with an entrepreneur and a company that over the years have shown enormous potential is at the basis of our investment strategy. I firmly believe that the synergy between Zanzar’s DNA and 21 Invest’s industrial approach will allow the group to further strengthen its leadership position in the sector, further accelerating the growth path developed over time.”

Angelo Angellotti, Chairman of Zanzar, affirms: “The partnership with 21 Invest is a milestone in a journey that began more than 35 years ago. With 21 Invest we will be stronger and ready to take on future growth opportunities in Italy and abroad, both organically and through add-on acquisitions.”

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Tech24 Acquires Commercial Kitchens

HCI Equity Partners

Tech24 Completes Sixth Add-on Acquisition

GREENVILLE, SC, November 8, 2021 — Tech24, backed by HCI Equity Partners, announced today it acquired Commercial Kitchens, Inc., based in Milford, Connecticut on November 3, 2021. Tech24 is a national provider of repair and maintenance services for food service and commercial HVAC equipment. Commercial Kitchens represents the sixth add-on acquisition in HCI’s consolidation strategy in the highly fragmented foodservice repair market.  Financial terms were not disclosed.

Commercial Kitchens is a founder-owned business, providing repair and preventative maintenance services for commercial grade kitchens to healthcare, education and other institutional customers, across Connecticut, New York and northern New Jersey. The Company has full-service contracts with most of its customers. Commercial Kitchens represents an attractive addition to the Tech24 platform by adding a complementary location in the Tri-state area which provides entry to the institutional foodservice end market.

“We are very pleased to add Commercial Kitchens to the Tech24 family,” said Dan Rodstrom, CEO of Tech24.  “We look forward to working closely with Rich Pinto and the team to offer their fixed cost service model across the entire, growing Tech24 platform. This approach has provided a valuable service model to institutional customers looking for budget certainty.”

Rich Pinto, CEO of Commercial Kitchens, stated, “Our success has been built on bonding with our customers by guaranteeing superior work and deep knowledge about food service technology. We are excited about this opportunity to join with and grow the unique Commercial Kitchens model under the Tech24 national umbrella. Our existing contract partners will continue to receive the same high level of service they have come to expect.”

Doug McCormick, HCI’s Managing Partner commented, “We are pleased with the pace of our acquisitions for the Tech24 platform and the increasing set of capabilities we can provide to our customers.  Commercial Kitchens has a strong history of successfully supporting its customers and provides a specialized expertise to the entire Tech24 organization.”

Quarles and Brady served as legal counsel to Tech24.

 

About Tech24

Tech24 provides installation, preventative maintenance and repair for foodservice facilities across the US. The Company specializes in cooking, refrigeration, beverage and specialty foodservice equipment, as well as performs HVAC, electrical and plumbing services. For more information, please visit www.mytech24.com.

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