Tag Archives: Consumer brands

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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Ardian invests in Strategie Media Conseil to build on the leading luxury real estate classifieds platform in France

Ardian

02 NOVEMBER 2021 GROWTH FRANCE, NICE

Nice, November 2nd, 2021 – Ardian, a world leading private investment house, today announces the acquisition of a minority stake in Strategie Media Conseil, a leading French digital real estate classifieds platform offering luxury and high-quality properties via its two websites – Résidences Immobilier and Maisons & Appartements.

Founded in 1994 by Jean-Pierre Cohen and Eric Bernt, the Strategie Media Conseil (SMC) Group has become one of the leading digital real estate classifieds platforms in France, connecting homebuyers and tenants with around 2,000 real estate agencies. The company currently employs nearly 50 people.

Originally launched as a real estate media publisher operating in the French Riviera, the Group took the strategic decision to establish its digital presence via its two real estate classifieds platforms in order to adapt to the evolutions of its clients’ business and to market expectations. The Group has also expanded its geographical footprint across France in new strategic regions thanks to its sales force and its proprietary software tools.

Ardian Growth’s investment in the Group will enable SMC to build on its strong presence in the French market by expanding its offering and geographical reach, cementing its leading position in the luxury real estate and intermediate housing segments. To this end, the Group will be able to draw on Ardian Growth’s technological and industry expertise, global footprint and diverse network of entrepreneurs.

Jean-Pierre Cohen, Co-Founder at SMC, said: “To step up our growth and continue delivering fantastic customer experience to buyers, agents and sellers, we will, with the support of Ardian Growth’s team, invest in growing our team and developing our digital platform while expanding our high added-value service portfolio for real estate agents.”

“Our investment in Strategie Media Conseil is a perfect example of our approach of backing ambitious entrepreneurs with solid expertise who are looking to take their companies to the next level. The Group is a strongly performing digital real estate classifieds platform with a clear strategic focus and an impressive track record. We look forward to working closely together with Jean-Pierre and its team, to expand the platform and ensure that SMC’s exceptional offer is more widely available across France.” said Alexis Saada and Léa Chaplain for Ardian Growth.

More information on the websites:

WWW.MAISONSETAPPARTEMENTS.FR

WWW.RESIDENCES-IMMOBILIER.COM

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn 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 STRATEGIE MEDIA CONSEIL

Founded in 1994, Strategie Media Conseil (SMC) develops two digital real estate classifieds platforms: Maisons & Appartements, a leader in high-quality housing and Résidences Immobilier, a leader in luxury real estate. Initially specializing in real estate media, the Group has established its digital presence becoming one of the leading digital real estate classifieds platforms in France. The Group retains its dual media offering with the monthly publication of its print magazines. With its 60,000 ads, Maisons & Appartements has expanded across the South of France, from Monaco through the Rhône-Alpes region to the Atlantic Coast. With around 20,000 luxury real estate ads covering Paris, the Atlantic Coast and the French Riviera and around 4,500 pages a year in its magazine version, Résidences Immobilier is one of France’s leaders in luxury real estate.

LIST OF PARTICIPANTS

  • STRATEGIE MEDIA CONSEIL

    • JEAN-PIERRE COHEN

  • STRATEGIE MEDIA CONSEIL ADVISORS:

    • M&A ADVISORS: EDMOND DE ROTHSCHILD (JULIEN BÉRAUD, GONZAGUE POURADIER-DUTEIL, AUDE-AMEL CHERAITIA)
    • LEGAL ADVISORS: HUBERT EVRARD (BOSIO-EVRARD & ASSOCIÉS)
    • FINANCIAL ADVISORS: ALVAREZ & MARSAL (JONATHAN GIBBONS, SAMIH HAJAR, SIMANE IDBALKASSM, MAXIME FRYDMAN)

  • ARDIAN

    • ALEXIS SAADA, LÉA CHAPLAIN

  • ARDIAN ADVISORS:

    • LEGAL ADVISORS: MCDERMOTT WILL & EMERY (DIANA HUND, FANNY RECH, MARIANNE ZWOBADA (CORPORATE); ANTOINE VERGNAT, CÔME DE SAINT VINCENT, MATTHIEU RANNOU (TAX); PIERRE-ARNOUX MAYOLY, SHIRIN DEYHIM, CLARISSE DE ROUX (FINANCING))
    • TAX, LEGAL AND EMPLOYMENT AUDIT: FIDAL (KATIA JARQUIN, LORRAINE RAIMBERT-NUSSE, MIKAËL MAHEUST)
    • FINANCIAL ADVISORS: EIGHT ADVISORY (CHRISTOPHE DELAS, FABIEN THIEBLEMONT, ARTHUR HUON)

  • FINANCING

    • LEAD BANK: SOCIÉTÉ GÉNÉRALE (GAËLLE COUDERT-MAJOULET)
    • PARTICIPANTS: BNP PARIBAS (AURÉLIE GIORDANO, BRUNO CHAUDAT, MATHIAS RONZEAUD), CAISSE RÉGIONALE DE CRÉDIT AGRICOLE MUTUEL PROVENCE CÔTE D’AZUR (CHRISTOPHE LEJEUNE, BENJAMIN BREBAN, STÉPHANIE TOURRET)
    • FINANCING ADVISORS: SIMMONS & SIMMONS (COLIN MILLAR)

PRESS CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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American Water Announces Agreement to Sell its Homeowner Services Group to Funds Advised by Apax Partners

  • American Water agrees to sell its Homeowner Services Group to funds advised by Apax Partners LLP (“Apax”) in a deal valued at $1.275 billion
  • At closing, American Water will receive $480 million in cash and a $720 million secured Seller’s Note bearing a 7% annual interest rate with a five-year term
  • Additional purchase price of $75 million if certain milestones are met
  • American Water also enters into revenue sharing agreement on revenue generated from on-bill billing arrangements with American Water customers
  • American Water’s core regulated business strengthened as cash proceeds from the transaction will be redeployed into the regulated water and wastewater businesses in near- and long-term
  • Proposed sale further narrows market-based business focus to regulated-like Military Services Group

 

American Water Works Company, Inc. (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, today announced that it has agreed to sell its Homeowner Services Group to funds advised by Apax in a deal valued at approximately $1.275 billion.

Upon closing of the transaction, American Water will receive $480 million in cash and a $720 million secured Seller’s Note bearing a 7% annual interest rate with a five-year term. In addition, the transaction includes a delayed payment to American Water of $75 million if certain milestones are met by December 31, 2023. The structure of the transaction enables initial cash proceeds to be redeployed into the regulated water and wastewater business to fund near-term incremental capital investments, while interest on the Seller’s Note will provide a stream of earnings over the term of the note. Upon maturity, the proceeds from the repayment of the Seller’s Note are expected to be used to fund a continually growing capital investment in the regulated business.

“American Water has successfully grown our Homeowner Services Group over the last 20 years, creating great value.” said Walter Lynch, President and CEO of American Water. “This transaction allows us to capitalize on that value creation by utilizing the proceeds to invest in our regulated businesses. As we have continuously communicated, our strategy is to operate where we can best serve customers, drive efficiencies, invest in our systems and grow our regulated water and wastewater businesses,” added Lynch. “We look forward to outlining the transaction further, as we discuss our long-term financial plan at our next virtual investor day on November 3, 2021.”

Homeowner Services Group’s customer facing brands include American Water Resources and Pivotal Home Solutions, which provide various warranty protection programs and other home services to residential customers across the country.  This business currently has nearly 3 million customer contracts across 43 states and Washington, D.C.

“We believe Apax will take the growing Homeowner Services business into its next chapter and employees will transfer as part of the deal and have the opportunity to continue to add value to customers,” added Lynch.

Ashish Karandikar, Partner at Apax, said, “Having tracked the home warranty sector, we identified the Homeowner Services Group as a stand-out provider in the space. The Apax Funds have deep domain experience across the home services market and insurance and warranty product dynamics, with prior investments in Authority Brands, Assured Partners and Hub for example. We are excited to partner with the team at Homeowner Services Group as we look to build on the Homeowner Services Group’s success to date, leveraging the Apax Funds’ transformational approach, hands-on operational excellence, and deep digital expertise to support the company going forward.”

Nedu Ottih, Principal, Apax added: “The Homeowner Services Group team have built an impressive business in an important and growing sector, and we see a strong investment case for future growth. We look forward to working with the team, the company’s customers, and clients, leveraging the Apax Funds’ transformational approach, hands-on operational experience and deep digital expertise to support the company going forward.”

American Water will also enter into a revenue sharing agreement that provides for American Water to receive a percentage of revenue generated from previous on-bill billing arrangements with American Water customers. This agreement will also provide an ongoing income stream as Apax continues these relationships.

American Water anticipates closing the transaction in the fourth quarter of 2021, subject to the satisfaction or waiver of customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

American Water was exclusively advised by BofA Securities, Schulte Roth & Zabel LLP and Shearman & Sterling LLP. Apax was advised by Goldman Sachs, Harris Williams, PWC and Simpson Thacher & Bartlett LLP.

 

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this press release are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to our business and the proposed transactions described in this press release, including, but not limited to, the ability to complete such transactions on a timely basis or at all; the ability to satisfy closing and other covenants and conditions related to such transactions, including the ability to obtain required regulatory approvals (including under the Hart-Scott-Rodino Act) and other consents and to provide all closing deliveries; the accounting, financial and other impacts of such transactions; and the ability to achieve the Company’s regulatory and other strategies, benefits, plans and goals related to such transactions, including with respect to the repayment of the Seller’s Note and the redeployment of the net proceeds from such transactions, and involve various risks and uncertainties. These statements are based on the current expectations of management of American Water. There are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements, including without limitation with respect to (1) obtaining required approvals and consents required for the transactions, including expiration or termination of the applicable Hart-Scott-Rodino waiting period; (2) satisfying other conditions to the closing of the transactions; (3) the amount of proceeds to be received from the transactions due to, among other things, closing and post-closing adjustments to the purchase price and other withholdings as provided in the purchase agreement and the ability to receive any contingent consideration and payments under the Seller’s Note and the revenue share agreement; (4) the post-closing operating and financial results of the Homeowner Services Group business; (5) unexpected costs, liabilities or delays associated with the transactions; (6) regulatory, legislative, local or municipal actions affecting the Homeowner Services Group and the water and wastewater industries; and (7) other economic, business and other factors.

 

For further information regarding risks and uncertainties associated with American Water’s business, please refer to American Water’s annual, quarterly and periodic SEC filings, including American Water’s Current Report on Form 8-K filed with the SEC to report this transaction.  Forward-looking statements are not guarantees or assurances of future performance or results, and, except as may be required by applicable law, American Water does not undertake any duty to update any forward-looking statement. The foregoing factors should not be construed as exhaustive.

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Partners Group to acquire significant minority stake in leading independent Swiss watchmaker Breitling

CVC Capital Partners
  • Breitling draws on a unique industry heritage as the inventor of the modern wrist chronograph
  • Partners Group Co-Founder Alfred Gantner will join the Board of Breitling
  • Management, CVC, and Partners Group will jointly drive Breitling’s development into the leading neo-luxury watch brand

Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a significant minority stake in leading Swiss watchmaker Breitling (or “the Company”), from CVC Capital Partners Fund VI and management.

Founded in 1884, Breitling is already one of the leading Swiss watchmakers, with a unique heritage in the industry as the inventor of the modern wrist chronograph and a particular positioning as a casual, inclusive, and sustainable luxury brand. Breitling has a diverse range of watch collections centered around air, land, and sea themes, and its unique modern-retro design style appeals to an increasingly broad consumer base globally. The Company benefits from attractive macro and sectoral transformative growth trends, especially in Asia, where rising disposable incomes amongst the middle classes are increasing demand for premium products, including watches. It is estimated that the luxury watch segment will grow at 6% CAGR between 2021 and 20241, with the majority of this growth coming from China.

Partners Group will partner with CVC Capital Partners and management to further accelerate Breitling’s growth, building on its successful track record in recent years. Key value creation initiatives include growing direct-to-consumer sales channels, expanding Breitling’s own retail network, particularly in Asia and the US, and continuing to improve operational efficiency. In line with Partners Group’s entrepreneurial governance approach, the firm’s Co-Founder Alfred Gantner will join the Board of Breitling.

Alfred Gantner, Co-Founder, and Executive Member of the Board of Directors, Partners Group, says: “Breitling is an iconic Swiss brand whose watches are instantly recognisable around the world for their quality and style. Under the leadership of Georges Kern, the Company has enjoyed significant growth in recent years, and we believe it has significant potential to capture a wider audience of consumers globally. We wholeheartedly look forward to working with Georges and the CVC team to realize this next stage of growth for Breitling.”

Georges Kern, Chief Executive Officer, Breitling, comments: “We are delighted to welcome Partners Group as an investor, and Alfred Gantner as a Board member. With CVC and Partners Group we have a strong alliance to accomplish our ambitious targets to realize our immense potential to become one of the undisputed leaders in the Swiss Watch Industry.”

Daniel Pindur, Partner, CVC Capital Partners, states: “We are proud of the fantastic progress Breitling has made since we invested in 2017. Working in close partnership with Georges and his team, we have been able to significantly accelerate Breitling’s growth, through a repositioned brand, a rejuvenated product offering and a continued digitization of the business. We are very pleased to be bringing Partners Group on board and look forward to working closely with them to continue to grow this iconic business further and ultimately target an IPO in a few years’ time.”

1Source: Boston Consulting Group 2021

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3i-backed GartenHaus continues its international growth with the acquisition of Outdoor Toys in the UK

3I

3i Group plc (“3i”) today announces that A-Z Gartenhaus GmbH (“GartenHaus”), a digital leader in garden homes, sheds, saunas and related products in North Europe, has acquired Outdoor Toys, a leading online D2C retailer of outdoor garden toys in the UK. As part of the transaction, 3i will invest c.€56m of additional capital.

Founded in 2006 by James Owen and based in Mid Wales, Outdoor Toys is among the largest outdoor garden toys specialists in the UK. The company offers over 1,000 products and specialises in Modular Toys, including swing sets, slides and climbing frames, as well as ride-on toys, trampolines, sandpits and accessories. The company operates a vertically integrated value chain with its own product design, UK manufacturing, customer service, dedicated logistics fleet and direct online sales to customers through its own website as well as online marketplaces.

Outdoor Toys is known for its comprehensive customer service and strong customer satisfaction, with a reputation for quality. The company has delivered sales growth of 70% per annum since 2019 and shipped over 1 million items in the last twelve months.

This acquisition expands GartenHaus’s product portfolio and geographic reach whilst also enabling Outdoor Toys to increase its international reach. The combined business will be able to cross sell its products to customers as well as benefit from online marketing, customer service and supply chain synergies. The acquisition also supports GartenHaus’s ambition of building the leading European platform for home and garden projects.

Today’s acquisition is the second for GartenHaus since 3i’s investment in September 2020 and follows the addition of Polhus, a leading online retailer of garden houses and related products based in Scandinavia, in late 2020. Based on the strong organic performance of GartenHaus as well as the two strategic acquisitions, total EBITDA of the group has tripled since 3i´s original investment.

James Owen, founder and CEO of Outdoor Toys said: “We are delighted to be joining forces with GartenHaus to bring our award winning products to even more customers across Europe. We are excited for the future and look forward to continuing to grow Outdoor Toys whilst benefitting from the know-how of GartenHaus and its strong platform.”

Sebastian Arendt, CEO of GartenHaus commented: “I would like to welcome James and the Outdoor Toys team to GartenHaus. There is a strong fit between our businesses and we look forward to working together as we continue our growth. 3i’s backing and international network have been instrumental in our achievements to date and we are excited to look ahead at further international expansion.”

Peter Wirtz, Partner 3i added: “GartenHaus and Outdoor Toys are a great combination and we are very happy to sign our second acquisition only a year after investing in GartenHaus. This transaction fits with our strategy of building GartenHaus into the leading European platform for home and garden projects.”

 

-Ends-

 

Download this press release  

 

For further information, contact:

 

3i Group plc

Kathryn van der Kroft

Media enquiries

 

 

Silvia Santoro

Shareholder enquiries

  

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

 

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

 

 

 

Notes to editors:

 

About 3i Group

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

 

About GartenHaus

Hamburg-based A-Z GartenHaus GmbH was founded in 2002 and employs over 100 people. With over 1 million monthly users, it is the digital market leader for home and garden projects in Germany, Austria, Switzerland, Benelux and Denmark. Since 2020 the digital leader for garden houses in Scandinavia, Polhus, is part of the GartenHaus group with webshops in Sweden, Norway, Finland, France and DACH.

As a digital specialist, GartenHaus GmbH has developed an innovative online shop including price comparison and unique and rich media content for a product range of 30,000 items and services. Consequently, GartenHaus GmbH offers the largest product assortment in Europe from 100 third party and 7 private label brands, such as Alpholz, FinnTherm, Terrando, Kibungi and POOLCREW. The product range includes garden sheds, saunas, patios, carports, garages, children’s playhouses, pools, green houses and much more. On request, GartenHaus GmbH handles the entire garden and home project, from A to Z: assembly, consultation, planning permission, foundations, maintenance and accessories. The extensive range of services includes products made to measure and configurators allowing customers to design products individually.

For further information, please visit: www.gartenhaus-gmbh.de, www.polhus.se

 

About Outdoor Toys

OutdoorToys was founded by CEO James Owen in 2006 and developed into one of the UK’s digital leaders for children’s toys and play equipment. With its modular design philosophy, its eCommerce platform and an agile manufacturing process it has disrupted the market. From humble beginnings the company quickly established itself in the market with its 100% D2C model built on a leading technology platform that enables the customer’s experience to be tailored to their unique requirements.

For further information, please visit: www.outdoortoys.co.uk

 

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.

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Silver Lake Leads Thrasio’s $1 Billion Series D Financing Alongside Advent International, Upper90, and PEAK6

Advent International

Round Brings Total Funding to More than $3.4 Billion

BOSTON, October 25, 2021 — Thrasio Holdings, Inc. today announced the initial closing of more than $1 billion in Series D financing led by Silver Lake, the global leader in technology investing, together with existing investor Advent International, which remains Thrasio’s largest shareholder. Existing investors Upper90, Oaktree Capital Management, L.P. and PEAK6 Investments also participated in the round. J.P. Morgan Securities, LLC acted as exclusive financial advisor to Thrasio, while Cooley, LLP provided legal counsel.

The funding announced today is in addition to the $650 million incremental debt facility announced last month and brings Thrasio’s total funding to more than $3.4 billion. The company recently announced its three largest acquisitions ever, all of which took place in the second quarter. 2021 has seen growth accelerate, as Thrasio has acquired more than 1.5 businesses per week and has more than 200 total brands in its portfolio.

“Thrasio created the Amazon aggregator category, and their innovative approach and impressive growth have brought a lot of attention to this space,” said Greg Mondre, co-CEO, and Stephen Evans, managing director, of Silver Lake. “We believe Carlos Cashman and his team are well positioned to accelerate their growth and build the preeminent next-generation, technology-driven consumer goods company. We’re excited to partner with Carlos, his team and the existing shareholders as the company enters the next phase of growth.”

“Thrasio has quickly established itself as the largest ecommerce aggregator globally, and we are thrilled to strengthen our partnership with Carlos and his team in addition to welcoming Silver Lake as a new investor,” said David Mussafer, chairman and managing partner and Jeff Case, managing director, of Advent International. “Thrasio is well positioned for further success, and we look forward to working with the company as it continues to scale.”

Thrasio will use this investment to continue acquiring promising brands – both domestically and internationally – while expanding distribution through additional channels. The company has already made substantial inroads globally, establishing operations in the UK, Germany, China and Japan in the last year alone. Local teams will leverage Thrasio’s proven model and industry-leading funding to find valuable online brands in these relatively untapped markets.

“Our business is getting better as it gets bigger, and these investments will be invaluable as we continue on that path,” said Carlos Cashman, co-founder and CEO of Thrasio. “Advent and Silver Lake both have phenomenal track records of building successful global businesses, and the additional funds from existing investors including Upper90 and PEAK6 are extremely rewarding votes of confidence in a crowded space.”

Amazon’s third-party marketplace has led to an enormous boom in entrepreneurship, as motivated sellers have quick and easy access to an engaged audience. Consumers, meanwhile, have access to nearly any product on the planet and an abundance of choices. Thrasio helps consumers more easily access quality products while giving high-performing sellers a clear path to success.

“Amazon’s Marketplace is an amazing ecosystem that has changed the game for consumers and entrepreneurs, and we’re proud to make it even stronger,” Cashman added. “By carefully selecting, vetting and growing exceptional brands, we help ensure that sellers are rewarded for their work and consumers find quality goods. We’ll use these funds to help sellers everywhere achieve their dreams and start chasing the next.”

Thrasio’s deep experience and analytics-driven approach has enabled it to quickly identify and acquire beloved brands with growth potential. Where traditional consumer goods companies take years to conceptualize, design and market products, Thrasio’s unique approach has customer feedback built into the business model. By selecting brands that consumers already love, Thrasio is able to quickly move past those stages of product development and focus on improving and adding to existing product lines. With more than 150 completed acquisitions spanning thousands of products, consumers everywhere already rely on Thrasio for high-quality goods.

About Thrasio

Thrasio is a consumer goods company reimagining omnichannel commerce and consumer products and boasts an innovation engine that brings high-quality products to market across digital marketplaces, direct sales channels, and retailers globally. With the experience of evaluating 6,000 ecommerce businesses, data on consumer preferences from more than 200 brands, and the operational scale of thousands of products, Thrasio is the largest acquirer of Amazon FBA brands, including Angry Orange pet deodorizers and stain removers, SafeRest mattress protectors and ThisWorx car cleaning and detailing products. These brands compete with top household names, offering consumers more choice and exceptional value. Thrasio was founded in 2018 by Carlos Cashman and Joshua Silberstein.

For more information, visit www.thrasio.com

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Blackstone Buys Majority Stake in SPANX, Inc.

Blackstone
  • Companies align to help empower women globally
  • The acquisition will accelerate SPANX’s already rapid digital transformation and expansion of its global footprint across more categories
  • Transaction led by all-female Blackstone investment team
  • Blakely to become Executive Chairwoman of newly appointed board of directors

ATLANTA & NEW YORK – October 20, 2021 – SPANX, Inc., the mission-driven womenswear brand founded by Sara Blakely in 2000, today announced a definitive agreement for a majority investment from funds managed by Blackstone (“Blackstone”), a leading global investment business. The firm has agreed to buy a majority stake in the company at a valuation of $1.2 billion – with Blakely maintaining a significant equity stake in the business. Blakely, along with SPANX’s existing senior management team, will continue to oversee daily operations, and at closing, Blakely will become the Executive Chairwoman. The acquisition will enable SPANX to accelerate its already rapid digital transformation and strong online presence in the e-commerce channel, expand its global footprint, and fuel its commitment to creating innovative, ground-breaking products for its customers across even more categories. The companies intend to create an all-female SPANX board of directors as they align to help empower women globally.

This acquisition is the culmination of an unprecedented journey for Blakely and SPANX. 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.

“This is a really important moment in time for female entrepreneurs,” Blakely said. “I started this company with no business experience and very little money, but I cared the most about the customer, and that gave me the courage to launch the company. At SPANX, we have always put the customer at the center of what we do. I am as excited today for the future of SPANX as I was when I started it 21 years ago. Now together with Blackstone, we will have even more opportunity to further our mission of making the world a better place… one butt at a time!”

Ann Chung, Global Head of Consumer for Blackstone Growth (BXG), said: “Sara is an iconic businesswoman who bootstrapped SPANX into not only a category creator and household name, but also a symbol of authenticity, confidence building and female empowerment. We’re honored that Sara and her team have placed their trust in Blackstone as their partner of choice to further accelerate SPANX’s digital transformation and growth, and look forward to what the business will achieve with our full set of resources behind it.”

Chung continued: “On a personal level, I am deeply proud to have led an all-female Blackstone investment team in this partnership with Sara and her accomplished female senior management team. We’re also excited for SPANX to join Blackstone’s growing investment portfolio of highly successful female-founded businesses.”

Today’s investment in SPANX 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 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; 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.

Blackstone will be making its investment in SPANX through its Blackstone Growth (BXG) and Blackstone Tactical Opportunities businesses. The transaction is subject to customary closing conditions.

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 $684 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

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

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Acquisition of Polish Pet Food Manufacturer Werbliński by Partner in Pet Food

Cinven

Partner in Pet Food (‘PPF’), a leading European pet food manufacturer, announces that it has reached an agreement with Mr. Grzegorz Werbliński, the successful Polish entrepreneur, to acquire his businesses G-Mart and Zakład Przetwórstwa Rolniczego in Poland (‘Werbliński’).

The transaction is expected to be completed in the coming months, subject to customary regulatory approvals and contractual closing conditions.

The Werbliński pet food business, established in 2004, near Kalisz, Poland, has a long history of producing high quality dog and cat food for Polish and international customers, including supermarkets and specialty pet food retailers.

Werblinski is highly complementary to PPF, given its geographical presence. It has strong growth prospects, and fully reflects PPF’s strategy to further expand its business in the fast-growing Polish and CEE markets and develop product offering in all categories.

This transaction follows PPF’s recent acquisition of Mispol, another leading Polish pet food manufacturer, and the acquisition of Landini Giuntini in Italy in January 2021.

Commenting on the acquisition, Gerald Kuehr, CEO of PPF, said:

“With its strong footprint in Poland and successful growth strategy, Werbliński represents a significant opportunity for us to further expand our local presence in Poland and CEE. We look forward to welcoming the Werbliński Team and Grzegorz himself into the PPF family and to recognising this acquisition as another major step in the future growth and development plans of our business.”

Grzegorz Werbliński commented:

“I’m excited to join Partner in Pet Food together with my experienced and dedicated team and be part of the pan European PPF Group and the success of our companies together.”

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