Tag Archives: Consumer brands

KPN Ventures provides growth capital to smart home alarm developer Minut

Kpn Ventures

Posted at 29 Jul 14:00h in Connected Home, News by KPN Ventures

Rotterdam, July 1, 2019 – KPN Ventures, the venture capital investment arm of KPN, announced today it has participated in the $8M Series A financing round in Minut, a Swedish tech startup that makes the Point smart home alarm. The round was led by KPN Ventures, with participation from previous backers Karma Ventures, SOSV and Nordic Makers, joined by strategic partner Centrica, bringing the total amount of funding over $10 million.

Minut has created the first complete smart alarm to keep your home safe and sound through a single device. The company has already sold devices in more than 60 countries with a growing team and new office based in London. The new capital will be used to accelerate growth across markets and to strengthen the product portfolio.

Minut has made protecting homes more accessible than ever before. Installation takes seconds with no drilling or cables to run and the app is easy to use for the whole family. The Minut smart home alarm analyses the environment and any motion or sound will be identified and alerts houseowners to threats through instant notifications. Through the use of machine-learning the sound recognition is continuously improved by the Minut community, making the system even better over time.

Nils Mattisson, CEO/co-founder of Minute: “Feeling safe shouldn’t be a luxury, or come at the cost of privacy. Until recently the most affordable solution for home security and monitoring has been Wi-Fi connected cameras, but people don’t want or trust them in their homes. Our aim is to make home security and monitoring accessible to everyone and we are excited to have KPN Ventures on board in this journey.”

Herman Kienhuis, Director of KPN Ventures said: “With their innovative ‘Point’ device, The Minut team has executed on the vision to make home security smart, simple and accessible for everybody. KPN powers the connected home and we see great opportunities to partner with Minut to help people protect their homes.”

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Alvic Group welcomes investment from KKR and Arta Capital

KKR

KKR and Arta will support Alvic in its international expansion plans

Spain, 23rd of July 2019: Alvic Group reached an agreement on the terms of an investment from KKR, a leading global investment firm, and Arta Capital, a Spanish midmarket private equity firm sponsored by the financial and investment group Grupo March.

Alvic is a leading Spanish panel and componentry manufacturer for kitchen and office furniture with more than 70% of its revenues coming from outside Spain. The current team led by Javier Rosales will continue managing the company.

Founded in Vic (Catalunya) in 1965 as Madetres, by Alejandro Rosales, the company started as a small manufacturer of custom-sized kitchen furniture. Today, Alvic owns and operates four state-of-the-art manufacturing facilities across Spain (in Andalusia and Catalonia) and a recently inaugurated 30,000 square metre manufacturing plant in Auburndale, Florida. In addition, the group plans to open new manufacturing capabilities in Alcaudete, Andalusia and one in Solsona, Catalonia for flat pack furniture.

The group’s offering has extended through the kitchen value chain selling high-end laminated panels, finished components (doors and cabinets), ready-to-assemble custom-sized furniture, and finished products through multiple channels such as partner-distributors, DIY retailers, direct to manufacturers and a network of 28 “Alvic Centers.” Additionally, the group sells office furniture under the brand “Ofitres,” and readymade kitchen/bathroom furniture under the brand “Faro.”

KKR and Arta will support the Rosales family in its next generation of innovation and international expansion by leveraging the new investors’ extensive experience, network and reach. The transaction builds on KKR’s successful track record in Spain and globally of working with family-led businesses to support their growth objectives and further scale their businesses. KKR has invested over $5 billion in Spain since 2010 across multiple asset classes including private equity infrastructure and real estate, supporting leading Spanish businesses. Arta Capital is one of the most active investors in the Iberian market with €800 million under management, and having successfully invested in 14 leading companies since 2008.

Alvic, with the support of its new investors, will continue its strategy of building its strong industrial innovation and will leverage the brand through its new US manufacturing facility, which will serve as the cornerstone to deliver Alvic’s high quality and design products into a highly attractive and growing market.

With its new investors, the company will be focused on investing in its commercial excellence capabilities for its core markets, continued investment in functional innovation and design and the opening of new facilities.

KKR and Arta have been impressed by Alvic’s industrial and commercial capabilities and are excited for the opportunities that lie ahead.

KKR’s investment will be made through its European private equity funds.

About Alvic Group
Founded in 1965 in Catalonia, Spain, the Alvic Group is a leading manufacturer and distributor of cabinetry and furniture panels for home and commercial use. Through its brands, among which are Alvic, Ofitres or Madetres, it provides home and office solutions to its customers in 97 markets. A family-led business, Alvic began expanding into new markets in 2011 through the opening of new distribution points in the United States, Canada and Australia. Since its founding, innovation has been at the heart of the business and products, and the company has been recognized as one of the “500 most innovative companies in Europe” by the Enterprises 500 Awards. In its more than fifty-year history it has received additional awards including the Golden Palustre of APCE for its track record, and the IDEAL Awards for the Company of the Year in the field of economics, among others. For more information, please visit https://www.grupoalvic.com/es/.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Arta Capital
Arta is a Spanish midmarket private equity firm sponsored by Corporación Financiera Alba/March Group. During the last 10 years, Arta has successfully invested in 14 leading Iberian companies. Arta Capital, with €800 million under management, is currently investing from its second fund, Arta Capital II. For additional information, please visit www.artacapital.com

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Onex to Sell Jack’s Family Restaurants

Onex

Toronto, July 18, 2019 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”) today announced they have agreed to sell Jack’s Family Restaurants (“Jack’s”). The transaction is expected to close in the third quarter of 2019 subject to customary closing conditions and regulatory approvals. The terms of the transaction were not disclosed.“Over the course of our investment, Jack’s significantly accelerated its growth and brought its differentiated concept, high-quality food and exceptional customer service to new communities across the southern U.S.,” said Matt Ross, a Managing Director of Onex. “We’d like to thank Todd Bartmess, Jack’s management team and all of the company’s dedicated employees for being great partners to Onex. We wish them continued growth and success in the future.”

“Matt and the entire Onex team have been wonderful to work with. Their support has allowed us to continue to invest in our people, technology and the growth of our brand,” said Todd Bartmess, Chief Executive Officer of Jack’s. “They were steadfast in their commitment to the Jack’s family and the high standards we set. We’re grateful for Onex’ partnership over the years.”

In July 2015, the Onex Group acquired Jack’s for a total equity investment of $234 million. Upon completion of the transaction, the Onex Group will have received proceeds of approximately $835 million, including prior distributions of $106 million. This results in a gross multiple of invested capital of 3.6 times and a 38% gross rate of return. Onex invested $79 million in Jack’s as a Limited Partner in Onex Partners IV and will have realized $255 million upon completion of the transaction, including prior distributions of $31 million.

About Onex

Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high-net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff’s actively managed public equity and public credit funds. In total, Onex’ assets under management are approximately $37 billion, of which approximately $6.6 billion is shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

The Onex Partners and ONCAP operating companies have assets of $51 billion, generate annual revenues of $31 billion and employ approximately 172,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

Forward-Looking Statements

This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as“believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained here in should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For further information:

Emilie Blouin Director,

Investor Relations Tel: +1.416.362.7711

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Waterlogic’s M&A deals hit double figures in just seven months

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Castik Capital

MAIDENHEAD, UK  – Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce that it has acquired 12 companies in the last seven months.

Waterlogic’s recent acquisition activity is a reflection of its position as a global leader in the fragmented market for workplace hydration, as well as the natural acquiror for high-quality providers of point-of-use water dispensers. The 12 acquisitions have enabled the company to enter new direct markets in Canada and Belgium as well as increase customer density and build capabilities in already established markets in the US, Australia and Western Europe.

“M&A offers major growth opportunities for Waterlogic as well as benefits for our customers, and we continue to maintain a healthy pipeline of acquisitions to augment organic growth in all our markets”explainsJeremy Ben-David, Group CEO Waterlogic.

In the US and Australia, the acquisitions of AWS South Bend, Leslie Water, My Better Water and Big Wet’s point-of-use business further consolidate Waterlogic’s market-leading presence in the company’s key territories. Whilst the acquisitions of Pure Life and Just Pure in Canada and Pure Services in Belgium establish Waterlogic with a direct presence for the first time in these important markets.

“These latest acquisitions help us achieve our ambition to lead the market with a range of environmentally sustainable solutions that provide more people around the world with access to high-quality drinking water,” continuesJeremy Ben-David.

The expansion of Waterlogic’s customer base and service network significantly strengthens the company’s position as the leading total water solutions provider of point-of-use dispensers, under-counter dispensers and specialty restaurant and hospitality solutions globally.

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. These are the most recent acquisitions as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Germany, France, Spain, Central and Eastern Europe, and Scandinavia.

Media Contact

Rosanna Turner, Group Marketing Communications Manager
rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and operator of point-of-use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.

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Nordic Capital to sell Ellos Group, a Nordic e-commerce leader in fashion and home furnishings, to fashion group FNG

Nordic Capital

July 04 2019
Nordic Capital to sell Ellos Group, a Nordic e-commerce leader in fashion and home furnishings, to fashion group FNG ImageNordic Capital has signed an agreement to sell Ellos Group to FNG NV (“FNG”) for an enterprise value of approximately SEK 2,400 million (EUR 229 million). During Nordic Capital’s ownership, Ellos Group has become an e-commerce leader in fashion and home furnishings in the Nordic region, with the strong brands Ellos, Jotex, Stayhard and Homeroom. The new owner FNG is a fast-growing Benelux-based fashion group that will support Ellos Group’s further European expansion and growth. Nordic Capital will become a significant minority shareholder in FNG following completion of the transaction.

“Together with Nordic Capital, we have made significant investments in recent years to strengthen Ellos Group, focusing on the development of the home furnishings offering at Ellos, Jotex and our new online store Homeroom. We now have an excellent platform to drive further growth as a leading Nordic e-commerce platform with a unique customer offering in fashion and home furnishings. European expansion is a natural next step for Ellos Group, and can be accelerated with FNG as our new owner. With its extensive experience in the European fashion industry, FNG can provide new insights and strategic support in the next stages of our development journey”, says Hans Ohlsson, CEO of Ellos Group.

Ellos Group has been owned by Nordic Capital since 2013 and, during the ownership period, has focused on solidifying its position as a market leader in the Nordics and improving its strong digital position. Homeroom is now well established and the Group has streamlined its operations and focus on core business. Operations have been strengthened on all levels to support the ideal customer experience and to manage the rapid growth of the Company. Completed investments include the implementation of a new e-commerce system and the construction of a new warehouse and logistics centre. The Group’s commercial and operational developments have been combined with an increased focus on sustainability as an essential part of the long-term value creation and the identity of Ellos Group. Today, Ellos Group has approximately 1.7 million active customers throughout the Nordic region, and sells its own range of products on other platforms in Europe.

“Nordic Capital invested in Ellos Group with the explicit goal of developing and modernising one of Sweden’s best-known brands. Since then, Ellos Group has reinforced its digital and commercial capabilities to drive strong growth, supported by Nordic Capital’s expertise in e-commerce, branding and consumer credit. Nordic Capital sees joining forces with FNG as a natural next step for Ellos Group and looks forward to participating in the continued value creation journey as a significant minority shareholder in FNG”, says David Samuelson, Principal at the Adviser to the Nordic Capital Funds.

FNG, listed on Euronext Brussels and Euronext Amsterdam has a long history of successful acquisition-led growth. FNG was founded in 2003 and has grown from one brand in children’s fashion to a leading Benelux retailer-brand portfolio with over 3,000 employees and total sales of approximately EUR 500 million. FNG has deep experience in leveraging synergies within areas such as shared supply channels and data-based customer analyses. It has a successful opti-channel sales strategy and is ideally positioned to support Ellos Group’s continued growth as a leading fashion and home e-retailer.

“Ellos Group is a true leader in the Nordic market, boasting an attractive mix of fashion and home interior products, with strong positioning of its own brands. Together with its well-developed financial services platform, it makes Ellos Group an ideal addition to FNG, and we are very excited to take this major transformational next step for our company”, commented Dieter Penninckx, founding CEO of FNG.

Following the change in ownership, Ellos Group will be able to offer Nordic customers FNG brands through its own e-commerce platforms, while Ellos Group’s own range of fashion and home furnishings will be available to new customer groups in Europe via FNG’s existing e-commerce platforms and physical stores.

The combined entity will have a geographically diversified business, an even stronger market position, an attractive product mix in fashion and home interior, and a balanced mix between own and external brands. With pro forma revenues of EUR 759 million in 2018, the combined entity will be a leading player in the European fashion and home interior retail landscape.

Paul Frankenius, through Frankenius Equity AB, will remain a minority owner in the combined company (alongside Nordic Capital).

The transaction is subject to customary regulatory approvals, including SFSA ownership assessment approval. Completion of the transaction is expected in September or October 2019.

ABG Sundal Collier acted as the sole financial advisor to Nordic Capital in the transaction and Cederquist acted as lead counsel.

 

Press contacts:

Nordic Capital
Katarina Janerud, Communications Manager
Adviser to Nordic Capitals Funds
Ph: +46 8 440 50 50
email: katarina.janerud@nordiccapital.com

 

Ellos Group
Hans Ohlson, CEO
Ph: +46 733 74 70 50
For media inquiry: malin.lundin@jklgroup.com

 

About Ellos Group

Ellos Group – with online stores Ellos, Jotex, Stayhard and Homeroom – is the Nordic region’s leading e-commerce group. Working closely with its millions of customers, Ellos Group constantly strives to develop and offer attractive fashion and home furnishings for the entire family. The Ellos Group focus is always on the customer. Ellos Group, headquartered in Borås and with operations in all Nordic countries, has around 500 employees and annual sales of approximately SEK 2.6 billion (EUR 247 million). Ellos Group’s principal owners are Nordic Capital and Paul Frankenius (with co-investor Frankenius Equity AB). www.ellosgroup.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrial Goods & Services and Consumer. Key investment regions are the Nordics, Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 14 billion in over 100 investments. The most recent fund is Nordic Capital Fund IX with EUR 4.3 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds and vehicles are based in Jersey. They are advised by several advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which is referred to as the Advisor to the Nordic Capital Funds. For further information about Nordic Capital, please visit www.nordiccapital.com

 

About FNG

FNG is a fast-growing group of companies active throughout Europe. FNG designs and distributes clothing and footwear for women, children and men through its own concept stores at the best locations in Belgium and the Netherlands, as well as through a network of several brand stores in Benelux and elsewhere. FNG, listed on Euronext Brussels and Euronext Amsterdam, has more than 3,000 employees and aggregate sales of around EUR 500 million. www.fng.eu

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Altor invests in XXL

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Altor

XXL ASA (“XXL” or the “Company”) has agreed to sell its 3,096,274 XXL shares (2.23% of the outstanding shares in the Company) held in treasury (the “Treasury Shares”) to Altor Invest 5 AS and Altor Invest 6 AS at a price of NOK 25.00 per share. Altor Invest 5 AS and Altor Invest 6 AS are indirect subsidiaries of Altor Fund IV, a fund in the Altor family of funds (together referred to as “Altor”).

The Company’s sale of Treasury Shares will yield total proceeds to XXL in the amount of NOK 77.4 million and contribute to a strengthened liquidity situation for the Company.

In addition to acquiring the Treasury Shares, Altor has on 19 June 2019 acquired 7,100,000 shares from existing XXL shareholders. Together with the 6,900,000 shares already owned by Altor, Altor will own 14,000,000 shares (10.06%) excluding the Treasury Shares and 17,096,274 shares (12.29%) including the Treasury Shares, and has requested a representative on the Board of Directors of the Company.

In the period from 2010 to 2015 XXL was partly owned by EQT. In this period XXL developed strongly, gaining market leadership in Nordic sports retail, including a strong position online, together with solid financial results. XXL has accordingly good experience with PE owners, and believes Altor will fuel the Company with competence in the next phase. Altor is a market leading Nordic PE fund and a long-term investor focused on investing in and developing medium sized companies, with extensive retail and consumer goods experience, strong industrial network and portfolio companies with both similar characteristics as well as potential partnerships with XXL. The Board of Directors is of the view that Altor’s involvement with the Company will contribute to strengthening XXL’s business model as Altor is recognized as a long term value creator with an active ownership model, and that increased involvement from Altor will be in the best interest of the Company and its shareholders.

Chairman of the Board of Directors in XXL, Øivind Tidemandsen, is supportive of the transaction and to have Altor as a large shareholder in the Company. Dolphin Management AS, controlled by Øivind Tidemandsen, has therefore today sold 2,400,000 shares in XXL at a price of NOK 25.00 to Altor. Following this transaction, Dolphin Management AS owns 31,650,000 shares in XXL (22.75%) and will remain a large shareholder in the Company.

The Treasury Shares have been acquired by the Company pursuant to a board authorization granted by the general meeting under which treasury shares may only be used in conjunction with the share incentive scheme for the Company’s employees or cancelled in connection with a reduction of the share capital of the Company. A different use of the Treasury Shares will need an approval from the general meeting, and the sale of the Treasury Shares to Altor is therefore subject to approval by the Company’s general meeting. The Board of Directors will in due course call for an extraordinary general meeting with the agenda of approving the sales of the Treasury Shares as well as electing a representative of Altor as a member of the Board of Directors in XXL. Shareholders representing in the excess of 50% of the outstanding shares have confirmed that they will vote in favour of such resolutions.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For more information, please contact:
Tor Krusell, head of Communications Altor, +46705438747

About XXL ASA
XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden, Finland, Denmark and Austria. It is the largest among the major sports retailers in the Nordics and the fastest growing among the major sports retail chains in the World. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL’s concept is to have the largest stores with the best prices and the widest assortment of products, focusing on branded goods.

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

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Priveq – new growth partner for Parfym.se

Priveq

Parfym Sverige AB (“Parfym.se”), one of the largest online players within beauty in the Nordics, has chosen to incorporate Priveq Investment (“Priveq”) as a new growth partner. The founder and the current CEO will continue to be a part of the ownership group.

Parfym.se was founded in 2005 as an online challenger to traditional perfumeries. Today Parfym.se is one of the largest beauty e-tailers with three websites and operation in Sweden and Finland. The company offers a complete assortment within beauty – hair care, makeup, skincare and fragrances, with a brand portfolio including both strong international and local brands in different price segments.

“We are very pleased to team up with Parfym.se and contribute to the company’s continued growth journey. We have followed the company for a long time and are impressed by its strong market position and how it since the start of the company has managed to balance high growth with double digit profit margins in a highly competitive segment” says Maria Perez Hultström, Investment Manager at Priveq.

”Our team is looking forward to have Priveq as our partner – strengthening our continued development We are convinced that Priveq with its broad competence will contribute going forward and we are looking forward to an exciting future together” says Darko Drašković, CEO at Parfym.se.

“As founder of Parfym.se, I am pleased to bring in Priveq as partner. I am looking forward to, together with Priveq, continue the development that Parfym.se has had up until today” says Per Ejerhed, founder and former majority owner of Parfym.se.

For further information, please contact:

Maria Perez Hultström, Investment Manager, Priveq
Tel: +46 (0)70 928 01 42
maria.hultstrom@priveq.se

About Parfym.se
Parfym.se is a Nordic online player within beauty offering a complete assortment with over 200 established brands in different price segments. The company was founded in 2005 in Sweden and has since expanded to Finland and has become a favorite among the customers. Parfym.se operates three websites targeting different customer segments and has a turnover exceeding SEK 200m. The head office is located in Stockholm, Sweden.

Visit www.parfym.se for more information.

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Aurelius subsidiary GHOTEL Hotel & Living opens Hotel in OSNABRÜCK

Aurelius Capital

  • GHOTEL will operate the hotel under the Holiday Inn brand name
  • 30th Holiday Inn in Germany

Munich, May 29, 2019 – Hotel operator GHOTEL hotel & living (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), has opened a modern 4-star Holiday Inn hotel in Osnabrück, Germany. The hotel is operated under franchise for the InterContinental Hotels Group under the Holiday Inn brand, and is the 30th Holiday Inn in Germany. The new hotel is centrally located, close to the Osnabrück main railway station and just 33 kilometers from the Münster/Osnabrück airport. This four-star property has 158 modern guest rooms, three professionally fitted-out conference rooms and a spa area.

Mario Maxeiner, Managing Director Northern Europe, said: “Holiday Inn and Holiday Inn Express are strong brands in the midscale segment that are tremendous growth drivers for us, not just here in Germany, but Europe-wide. The two brands are so successful because we continually work to make them ever more attractive, for guests as well as owners. With the GHOTEL Group we are delighted to have another strong partner who is as committed to the Holiday Inn brand as we are.”

Jens Lehmann, CEO of the GHOTEL Group, added: “The Osnabrück Holiday Inn fits perfectly in our portfolio. With this property we are continuing our growth course and strengthening our partnership with IHG.”

 

ABOUT GHOTEL

GHOTEL hotel & living is an expanding hotel and apartment building chain with 14 properties in several cities in Germany including Kiel, Hanover, Göttingen, Koblenz, Munich, Würzburg, Essen, Ludwigsburg and Neckarsulm. These business hotels with modern conference rooms are marketed under the GHOTEL hotel & living and nestor Hotels brands, and the franchise brands Accor and InterContinental Hotels Group. Under the GHOTEL living brand, GHOTEL hotel & living also operates “temporary residence” apartment buildings in Bonn and Munich. GHOTEL hotel & living is headquartered in Bonn, and since December 2006 has belonged to the AURELIUS Group.

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Consortium led by EQT and ADIA enters exclusive negotiations to acquire skincare company Nestlé Skin Health

eqt

  • EQT and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) have partnered with a wholly owned subsidiary of the Public Sector Pension Investment Board (“PSP Investments”) and other renowned institutional investors
  • The consortium has entered into exclusive negotiations to acquire Nestlé Skin Health, a leading global skincare company
  • The new owners plan to support Nestlé Skin Health in its next period of growth and innovation by leveraging EQT’s strong healthcare expertise, local angles and industrial network

A consortium comprising EQT VIII fund (“EQT” or “EQT VIII”), Luxinva (a wholly-owned subsidiary of ADIA), PSP Investments and other renowned institutional investors, has entered into exclusive negotiations to acquire Nestlé Skin Health (NSH), a leading global provider of skin health products, from Nestlé S.A. (“Nestlé”) for an enterprise value of CHF 10.2 billion.

Founded in 1981 as Galderma and operating as a wholly owned subsidiary of Nestlé since 2014, Nestlé Skin Health is a leading skincare company offering a range of medical and consumer skin health solutions through three business units: aesthetics and prescription, both under the Galderma brand, and consumer health. The Group has a combined revenue of CHF 2.8 billion and employs more than 5,000 people worldwide. During the ownership of Nestlé, Nestlé Skin Health has operated as an independent business unit under the leadership of Stuart Raetzman, executing a clearly defined strategic agenda around growth and operational excellence.

The consortium around EQT VIII intends to support Nestlé Skin Health in its next period of growth and innovation, leveraging EQT’s long-term experience and industrial network. The strategy will build on the current direction taken by NSH’s management and focuses on accelerating growth further by building on the company’s strong market position and brands.

Priorities will be 1) to invest in commercial excellence and drive innovation in collaboration with health care professionals in the Aesthetics unit; 2) to continue investments in R&D and business development to strengthen the Prescription division and leverage its best-in-class commercial platform; 3) to increase presence in the US, launch new products and focus on international expansion in the consumer health business. The company will keep its headquarters in Switzerland and will be rebranded as Galderma.

The investment is in line with EQT’s thematic approach of investing with the trend in businesses with positive societal impact, advancing the progress of one or more of the United Nations Sustainable Development Goals (“SDG”). Nestlé Skin Health contributes to society by enhancing the quality of people’s lives and by contributing to a healthier future through science-based solutions for skin health. The consortium will support the Company to stay in the forefront of sustainability.

“We are impressed by Nestlé Skin Health’s management team and its achievement in positioning the company as a leading player across its three business units,” said Michael Bauer, Global Head of Healthcare at EQT Partners and Investment Advisor to EQT VIII and continues:

“The heritage of the company as a focused skincare company with a comprehensive product portfolio, exceptionally strong brands and high customer loyalty is unique. This growth investment opportunity fits well to EQT’s DNA of driving growth and making strong companies even stronger. We look forward to supporting the management team and employees of NSH in its next phase of growth and innovation by further promoting innovative skin health products that improve health and well-being.”

Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department at ADIA, said: “NSH is a leading global business with a well-balanced portfolio of dermatology products, targeting sizeable end-markets with strong underlying growth. This proposed transaction aligns with our approach of making strategic investments alongside proven partners to help strong, innovative businesses grow.”

Przemek Obloj, Managing Director at PSP Investments, concludes: “We are delighted to be partnering with EQT in this proposed landmark transaction and to support their compelling vision for continued growth of this unique portfolio of brands.”

The proposed transaction is subject to employee consultations and customary regulatory approvals.

Rothschild & Co and PricewaterhouseCoopers LLP acted as financial advisors to the consortium of EQT VIII, ADIA and PSP Investments. Kirkland & Ellis International LLP acted as legal advisor.


Contacts
Michael Bauer, Partner at EQT Partners, Investment Advisor to EQT VIII, +41 44 266 68 00
EQT Press office, +46 8 506 55 334


About Nestlé Skin Health
Nestlé Skin Health provides science-based solutions to meet the specific skin health needs of healthcare professionals, patients and consumers. It offers a range of leading medical and consumer brands through three complementary business units in prescription, aesthetics and consumer care. Headquartered in Lausanne, Switzerland, Nestlé Skin Health employs more than 5,000 people across 40 countries.

More info: www.nestleskinhealth.com 

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About ADIA
Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Through its extensive relationships across the industry, the Private Equity Department invests in private equity and credit products globally, often alongside external partners, and through externally managed primary and secondary funds. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies.

More info: https://www.adia.ae 

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with C$ 158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit www.investpsp.com or follow us on Twitter and LinkedIn.

More info: www.investpsp.com

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H.I.G. WhiteHorse Provides Growth Capital to Risparmio Casa

H.I.G. Europe

LONDON – April 29, 2019 – H.I.G. WhiteHorse, a credit affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management announced today that it has provided a growth capital solution to Risparmio Casa, a leading Italian drugstore chain based in Pomezia, Italy.

Established over 30 years ago by the Battistelli family, the company has exhibited strong growth and industry-leading performance with 2018 revenues in excess of 350 million Euros. Risparmio Casa operates over 100 locations with an average area of more than 2,500 sqm, resulting in a dominant presence in Northern and Central Italy and Sardinia. Its leadership is grounded on a commercial strategy of every-day affordable prices and a unique and broad product assortment, offering its customer base a wide range of personal care, household and non-food products.

With this transaction, H.I.G. will support the Battistelli family in continuing to strengthen the company’s leading position in the Italian drugstore industry and achieve its growth plans.

Guido Lorenzi, Principal at H.I.G. WhiteHorse, commented: “This transaction demonstrates H.I.G. WhiteHorse’s willingness to invest in and support leading Italian companies in cooperation with entrepreneurial families. H.I.G. is delighted to partner with Risparmio Casa and the Battistelli family, committing its resources, experience and network to support the next stage of growth of the company”.

Fabio Battistelli, co-founder of Risparmio Casa, commented: “We have built Risparmio Casa into one of the most established players in the Italian retail drugstore market and are looking forward to further consolidating our leadership position and strengthening our company”.

Stefano Battistelli, co-founder of Risparmio Casa, commented: “We welcome H.I.G. WhiteHorse into Risparmio Casa, which will be instrumental in supporting the next phase of our growth, building upon our existing strengths and value proposition”.

About H.I.G. WhiteHorse
H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital focused on providing flexible debt financing solutions to middle market companies in Europe and the United States. Operating a broad investment mandate, H.I.G. WhiteHorse provides unitranche, senior and subordinated debt capital for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. Credit facilities typically range from €10 million to €75 million for companies with revenues of €40 million or more. For more information, please refer to the WhiteHorse website at: www.higeurope.com/whitehorse.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Stamford, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contact:

Guido Lorenzi
Principal
glorenzi@higcapital.com

H.I.G. WhiteHorse
10 Grosvenor Street
London W1K 4QB
United Kingdom
P. +44 (0) 20 7318 5700
F. +44 (0) 20 7318 5749
www.higeurope.com/whitehorse

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