Mentha is entering into a partnership with Jollein to enable further international growth. With the help of Mentha, the Dutch specialist in baby and toddler articles is entering a new growth phase in which Jollein envisions to strengthen its market share in existing regions and expand into other countries.

For 50 years, Jollein has been a specialist in ‘baby soft goods’ such as sleeping bags, footmuffs, blankets and cloths. The company, which, in addition to textiles, also offers wooden toys and tableware for toddlers up to approximately 6 years of age, is the market leader in the Netherlands and is now active in 41 countries. Jollein is known by almost all young mothers for its high quality range at affordable prices.

Over the past three years, Jollein has undergone strong professionalization and international growth, driven by the entrepreneurship of owners Wim and Marrit Smits, with support from, among others, Erwin Hammer as a board member.

“Although building a company is a continuous process, almost all facets of our company have improved – from systems to photography and from sales team to thematic work. At a certain point, the realization comes that you need new insights and people to grow further, so we started looking for a suitable partner for Jollein. We are convinced that Mentha, with its knowledge and expertise of the market and experience with internationally growing companies, is the right party to ensure further expansion for Jollein in the coming years”, says Marrit Smits.

Barend Rutten, partner at Mentha adds: “Jollein has developed into a powerful brand in an attractive market with numerous growth opportunities. We look forward to entering the next growth phase together with Erwin and the rest of the management team, supporting them with our knowledge and network within the sector.” With the acquisition of Jollein, Mentha is strengthening its position in the market for baby products, following its investment in Petite Amélie earlier this year.

BGF has successfully exited its investment in Furniture Village, the leading national furniture retailer, following a share buyback by the business.

Furniture Village is an award-winning family business that has been selling quality sofas, dining furniture and beds across the UK for over 30 years.

BGF has invested £12 million in the business across two successive funding rounds, the first in 2014, followed by a second in 2015.

Over the eight-year investment partnership, Furniture Village has used the growth capital to increase its store footprint from 40 to 55, and also to bolster its logistics, IT and digital infrastructure. The exit has yielded strong returns on BGF’s original investment and follows a period of consistent, profitable growth for Furniture Village.

The move allows father-and-son duo Peter and Charlie Harrison to continue to build on the success of the business, with the aim of further strengthening its market position. Outside a substantial holding by the company’s employee benefit trust, the Harrison family is now the sole shareholder of the business.

Peter Harrison, Chief Executive, Furniture Village commented: “It has always been a lifelong ambition that the business would be wholly owned by the family. We have now realised that dream thanks to our fantastic people and our principle partners who have all contributed to our journey – my original business partner David Imrie, Peter Grant of Cadogan Estates, Jane Vinson at BGF and Jim Hodkinson our longstanding Chairman.

“Charlie and I have a very strong vision for where we would like to take the business next. It is based on a highly collaborative and loyal relationship with our people, excellence in customer service and always being able to offer the highest quality product at good value prices to our customers nationwide.”

Jane Vinson, Head of Portfolio, South at BGF said: “BGF has backed Furniture Village since 2014, providing £12 million of growth capital across two successive funding rounds. Over the last eight years we have supported the business with its acquisitive growth strategy providing the financial and strategic support needed to roll-out new sites, invest in new technologies and scale its ecommerce platform.

“During BGF’s investment hold period, the company has experienced significant growth and this deal marks an exciting next step for the company. This deal demonstrates BGF’s flexibility on exit routes, and we wish Peter and Charlie Harrison and the entire team all the best for the future.”

Charlie Harrison, Commercial Director, of Furniture Village added: “In recognition of our team, their strength and success, Furniture Village has also decided to introduce an Employee Benefit Family Partnership which will be a means of sharing the results of great performance with everyone in our special business.”

The news comes ahead of the imminent opening of its 55^th UK store in Colchester on Boxing Day.

Consumer specialist private equity firm Bluegem Capital Partners today announces that Bluegem III, through its portfolio company Béaba, has acquired a majority stake in Suavinex, a premium Spanish baby care brand.

Headquartered in Spain, the group is recognised for high quality and innovative baby products focused on baby bottles, soothers and personal care for babies and mothers. The business has manufacturing operations in Slovakia and Spain as well as an in-house team of engineers and technicians who have developed a wide range of worldwide patented products.

Suavinex was established in 1980 and in 1988 pioneered the launch of a revolutionary weaning product, the three position teat system, making it possible to adapt the flow of liquid from the bottle to the baby’s rate of sucking and type of food. In 2018 the business released Zero-Zero, an innovative product range of anti-colic baby bottles and soothers utilising patented technology and founded on the principles of medical benefits.

While most of the sales are in Spain, via a team of direct sales agents locally, the business has dedicated sales teams also in Italy, France and China, in addition to sales through distributors globally. In tandem the business has a strong and growing digital presence and a loyal customer base willing to repurchase and recommend the brand. The business benefits from an end to end vertically integrated business model allowing for full control over the entire value chain.

Suavinex is acquired by Bluegem’s third generation fund which held its final close in February of this year and has already made five investments in a diversified portfolio of resilient consumer subsectors. The combination of Suavinex and Béaba will establish a leading European company in the baby care sector, with a global footprint and a strong focus on feeding newborns to 24-month-old babies.

Commenting on the acquisition, Julien Laporte, CEO at Beaba and Operating Partner at Bluegem said:

“We firmly believe in the quality of Suavinex products and in its leadership position in the Spanish market. We are excited by the opportunity to consolidate two fantastic brands and look forward to creating a European leader in the baby care sector, focused on feeding and personal care.”

Mathieu Develay, Partner at Bluegem said:

“Suavinex is a great addition to Bluegem III and our portfolio of resilient consumer brands. We see premium baby care, especially the feeding and personal care segments, as core components of non-discretionary demand: parents don’t compromise on quality when providing for their babies. By combining two premium brands in this space, Béaba and Suavinex, we see a strong opportunity to drive growth and value, from a safe and stable base.”

Juan Ramón García, CEO at Suavinex commented:

“Suavinex is a leading “love brand” in the Spanish newborn and personal care market, developing and marketing high quality and innovative products. The integration into the Peek-a-Boo Group (Beaba) will strengthen Suavinex presence in international markets, continuing the company’s strategy initiated 10 years ago, and will enhance the value of its manufacturing facilities located in Spain and Slovakia. Our aim, with this alliance, is to create one of the most important European groups in baby care and personal care.”

About Bluegem Capital Partners LLP

Bluegem is a specialist private equity firm investing in brands underpinned by non-discretionary demand and megatrend tailwinds.  Bluegem utilise a proprietary artificial intelligence toolkit alongside an experienced team of investment professionals to accelerate business growth.  Bluegem have a track record of partnering with management teams across Europe through different economic cycles and market conditions, focusing on resilient consumer segments including: Beauty and Personal Care; Household Care; Food and Beverage; Baby Care; Pet Care; and Hobby and Craft. More information about Bluegem can be found at www.bluegemcp.com.

Bluegem enters outdoor consumer market: Pan European private equity investor partners with Petromax Group

Consumer specialist private equity firm Bluegem today announces that the third Bluegem Fund has made a majority investment in the Petromax Group, an outdoor hobby and lifestyle Group comprised of two renowned heritage brands, Petromax and Feuerhand. Headquartered in Germany with international distribution channels the Petromax Group is recognised for a wide product assortment of high quality outdoor equipment.

The entrepreneurial couple Jonas and Dr. Pia Christin Taureck, the current Co-CEOs and shareholders of the company, will reinvest into the business and remain as Co-CEOs to lead its expansion in the coming years.

The Petromax Group was established in 2005 and has since then captured the unique opportunity of combining two traditional best in class complementary outdoor brands.

• Petromax, founded in 1910, is the German brand for self-sufficient adventures in nature offering products for outdoor living, cooking, bushcraft and lighting solutions.

• Feuerhand, founded in 1893, is a brand veteran of patio and garden culture with lighting, fire bowls and convivial outdoor products. Cornerstone of the product range are the iconic Hurricane Lanterns of the Baby Special 276 series.

The Petromax Group heritage brands have a differentiated and superior value proposition, producing German engineered durable products. Petromax and Feuerhand both benefit from a large and loyal community of brand lovers with a long history of engagement and repeat purchase behaviour. The group has strong in house R&D capabilities in new product development leveraging on a highly skilled team who continue to expand the product range.

Commenting on the transaction, Constantin Rojahn, Investment Director, at Bluegem said:

“We have been impressed by the tremendous success of Petromax in building a leading outdoor lifestyle offering and we are thrilled to leverage our consumer expertise to support the team as they further scale the business while providing equipment for adventurers globally to pursue their passions.”

Jonas and Dr. Pia Christin Taureck, Founders and Managing Director of Petromax Group said:

“With Bluegem we have found a strong and experienced partner to drive healthy growth for the long-term. Bluegem bring a top-performing network with international expertise in building premium brands. Together we look forward to expanding our leading market position further and building even stronger teams and brands.”

The Petromax Group is the fifth investment made by Bluegem’s third generation fund which held its final close in February of this year and is already invested in a diversified portfolio of resilient consumer subsectors which are underpinned by megatrend tailwinds. The transaction represents the first investment by the Fund into the outdoor hobbies subsector and brings further diversification to the Bluegem III portfolio, which is already invested in the following:

• Nutrimuscle: a fast growing digital brand of clean sports nutrition products and wellbeing supplements

• BeautyNova Group: a leading Italian professional haircare group

• Beaba Group: two premium international brands (Beaba and Childhome) leading in the Baby Care sector

• Ecooking: skin care products developed with a strong focus on ingredients and efficacy

About Bluegem Capital Partners

Bluegem is a specialist consumer-focused private equity firm that partners with management teams and founders to accelerate growth of strong consumer brands. With a track record of investing across Europe through different economic cycles, industry and market conditions, Bluegem have refined their investment strategy to focus on resilient consumer segments benefiting from secular megatrends, including Beauty and Personal Care; Household Care; Food and Beverage; Baby Care; Pet Care; Home Décor; and Hobby and Craft. More information about Bluegem can be found at www.bluegemcp.com.

About Petromax Group

The Petromax Group is one of the leading suppliers of high quality equipment supporting any kind of independent outdoor lifestyle. Headquartered in Magdeburg, Germany, the group is comprised of two renowned heritage brands, Petromax and Feuerhand. Petromax, founded in 1910, is the German brand for self-sufficient adventures in nature offering traditional yet cleverly designed products for outdoor living and cooking, bushcraft und lighting. The product range is characterised by the highest possible level of quality, durability and well-thought-out details. Feuerhand is a brand veteran of patio and garden culture. Cornerstone of the product range is the iconic Hurricane Lantern dating back to 1893. The timeless portfolio around light, fire and convivial pleasures outdoors has been further developed since the brand has become part of the Petromax Group in 2014.

The entrepreneurial couple Jonas and Dr. Pia Christin Taureck has established the values of tradition, innovation and quality as both goal and motivation for constantly developing the brands further. Since its foundation in 2005 the group has gained recognition as a leading player in the outdoor industry with strong R&D capabilities and international distribution channels.

COLUMBIA, MD and VICTORIA, British Columbia – September 20, 2022 – Authority Brands, a residential services franchising platform in North America, today announced that British Columbia Investment Management Corporation (“BCI”), one of the largest institutional investors in Canada, has agreed to acquire a significant minority stake in the company, alongside funds advised by Apax Partners LLP (“Apax Funds”), which will retain majority ownership.

Authority Brands is the premier home service franchisor in North America. Its family of home service franchise brands are leaders in their industry, providing homeowners with services from the property line to the roof line. Authority Brands’ companies include 12 leading home service franchisors: America’s Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating and Air Conditioning, STOP Restoration and Woofie’s. Together, these brands provide home services through approximately 860 franchise owners across North America.

Since the Apax Funds’ initial investment in 2018, Authority Brands has grown from two home service franchisors to the current 12, expanding into new geographies and services and building out a powerful infrastructure.

“We are proud to have partnered with the Authority Brands team to help build, both organically and through strategic acquisitions, a leading residential services franchising platform,” said Ashish Karandikar, Partner at Apax. “We continue to see significant room for growth by Authority Brands and are pleased to join with BCI and members of the leadership team in the next phase of the company’s journey as they extend their platform through M&A, and strategic initiatives including franchise development, technology transformation and international expansion.”

“As a long-term investor, we seek to invest in market-leading companies with strong management teams, multiple levers for growth, and resilient business models that create shareholder value, such as Authority Brands,” said Dave Hong, Senior Managing Director, Private Equity at BCI. “We look forward to working with Authority Brands and Apax to generate compelling risk-adjusted returns for our pension plan and insurance fund clients.”

“We could not be more pleased than to continue to build the premier residential services franchisor in partnership with Apax and BCI,” said Craig Donaldson, Chief Executive Officer of Authority Brands. “Both partners will add substantial value as we aim to capture further share in the highly fragmented home services market, including by evaluating M&A opportunities in new service verticals.”

Financial terms of the transaction were not disclosed. The transaction is expected to be completed in Q4 2022, subject to customary closing conditions.

Apax was advised by Harris Williams, Boxwood Partners, William Blair & Company, Moelis & Company (financial advisors), Kirkland & Ellis, Simpson Thacher & Bartlett, DLA Piper, and Lathrop GPM (legal counsel), and Ernst & Young (financial and tax advisor).

-ENDS-

About BCI
British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada with C$211.1 billion under management, as of March 31, 2022. Based in Victoria, British Columbia, with offices in Vancouver and New York City, BCI is invested in: fixed income and private debt; public and private equity; infrastructure and renewable resources; as well as real estate equity and real estate debt through our independently operated platform company QuadReal Property Group. With our global outlook, we seek investment opportunities that convert savings into productive capital that will meet our clients’ risk and return requirements over time.

BCI’s private equity program actively manages a C$24.8 billion global portfolio of privately held companies and funds with long-term growth potential. Leveraging our sector-focused teams in business services, consumer, financial services, healthcare, industrials, and technology, media and telecommunications, we work with strategic private equity partners to source and manage direct and co-sponsor/co-investment opportunities.

For more information, please visit bci.ca.

About Apax Partners LLP

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Internet/Consumer, Tech, Services, and Healthcare. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Apax Partners is authorised and regulated by the Financial Conduct Authority in the UK.

About Authority Brands

Authority Brands is the premier residential services franchising platform providing services from the property line to the roof line. Authority Brands’ companies include 12 leading home service franchisors: America’s Swimming Pool Company, Benjamin Franklin Plumbing, The Cleaning Authority, Color World Painting, DoodyCalls, Homewatch CareGivers, Mister Sparky, Monster Tree Service, Mosquito Squad, One Hour Heating and Air Conditioning, STOP Restoration and Woofie’s. Together, these brands provide home services through approximately 860 franchise owners across North America. Authority Brands, which is headquartered in Columbia, Maryland, is dedicated to supporting individual franchise owner growth with a full suite of marketing, technology, and operational support, allowing them to focus on providing exceptional service to homeowners. Please visit www.authoritybrands.com for more information.