Tag Archives: Consumer brands

IK Investment Partners acquires Forthglade

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has acquired a majority stake in Forthglade Foods Limited (“Forthglade” or “the Company”) alongside management. This is the first investment by IK’s newly established UK team. Financial terms of the transaction are not disclosed.

Forthglade is a fast-growing UK based natural pet food brand, producing premium wet and dry dog food and treats. The Company was founded in 1971 and has been led by Gerard Lovell and Chris Brooking since their management buyout in 2011 and subsequent investment by Piper in 2015. IK will acquire a majority stake in Forthglade, with the management team reinvesting alongside.

Based in Okehampton, Devon, Forthglade employs over 130 people in the UK, and distributes across supermarkets, independent specialist pet retailers and online retailers including its own website (www.forthglade.com). Forthglade’s award-winning recipes are valued by customers for their natural ingredients, high meat content, gentle cooking methods, and grain free recipes. Backed by the increasing demand for quality natural pet food and following strategic investments in production processes, marketing, and operations, Forthglade has grown branded sales by over 30% per annum in the last three years and is set to generate over £22 million in sales in the year to September 2020. The company has seen sales accelerate ahead of plan throughout the lockdown period.

The Company recently opened a state-of-the art factory in Devon, which produces the business’ natural wet dog food and has significant additional capacity to support future growth. Forthglade has also successfully launched ranges of cold pressed natural dry food and hand baked dog treats, which are key growth areas for the Company. With IK’s investment, Forthglade plans to increase brand awareness and distribution to drive growth in the UK and overseas. IK will also support Forthglade’s ongoing digital development, as well as further expansion in the business’ product range and growth in its manufacturing capabilities.

The transaction represents the 10th investment from IK’s €550 million Small Cap II Fund. The investment in Forthglade marks a significant milestone for IK’s recently formed UK Small Cap team as they seek to deploy capital in the UK market across IK’s four core sectors: Business Services, Consumer/Food, Engineered Products and Healthcare.

Gerard Lovell, Joint Managing Director of Forthglade commented: “We have thoroughly enjoyed working with Piper whose support and expertise have been invaluable in helping us achieve so much. We are delighted to partner with IK for the next stage of our growth. With their experience across food production and animal health and an established Pan-European footprint, they are well placed to help us grow our offering and enter new markets. We have exciting plans ahead as we look to expand our success in wet into cold pressed and treats, and we see a strong runway for growth ahead.”

Tom Salmon, Partner at IK and advisor to the IK Small Cap II Fund, commented: “Forthglade is an excellent business and a great fit for our investment strategy. We have been very impressed with the achievements of Gerard, Chris and the rest of team in growing the business in recent years, and we are delighted to be backing them in the first investment made by IK’s new UK investment team. The market for natural pet food in the UK is particularly strong and resilient, and we see significant further growth potential for Forthglade in the UK and beyond in the years to come. With our strong track record in supporting growing food production and animal health companies, we look forward to similar success with Forthglade.”

For further questions, please contact:

Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk 

IK Investment Partners:
Nastasja Vojvodic
Phone:+44 (0) 20 7304 4300
nastasja.vojvodic@ikinvest.com

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 130 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About IK Small Cap II
The €550 million IK Small Cap II Fund (“IK Small Cap II” or “the Fund”) closed in 2018 and invests in growing businesses across IK’s four core sectors: Business Services, Consumer/Food, Engineered Products and Healthcare. Dedicated investment teams in Amsterdam, Copenhagen, Hamburg, London, Paris and Stockholm look to support businesses with an Enterprise Value of between c. €30 million and c. €100 million across the Benelux, DACH, France, Nordics and the UK. For more information, visit www.ikinvest.com/IK-Funds/ik-small-cap-ii-fund

Categories: News

Tags:

Takeover of Wasserij Gaverland by CleanLease

ActiveCapital

Koudekerk aan den Rijn, 1 September 2020 – CleanLease, a Dutch-Belgian group specialised in the rental and maintenance of textiles for health care and holiday parks, has taken over its sector partner Wasserij Gaverland. CleanLease is mainly active in hospitals, residential care centres and holiday parks and has about 20 specialised laundries in Belgium and the Netherlands. After the earlier acquisitions of Malysse in Belgium and Lips+ in the Netherlands in 2019, CleanLease has further developed into a leading player in its sector.

Wasserij Gaverland specialises in the maintenance of personal goods for people staying in residential care centres and psychiatric hospitals. With about 200 employees in one Belgian branch and two branches in the Netherlands, they realise a turnover of 16 million euros.

The healthcare market has changed dramatically in recent years. The supply of hire linen, the processing of service clothing and the maintenance of personal laundry are increasingly linked. CleanLease and Wasserij Gaverland find each other a reliable partner. Gaverland customers will be able to enjoy the absolute expertise and variety of CleanLease in the field of linen for hire, service clothing and personal laundry. CleanLease customers will benefit from Gaverland’s years of experience and “know how” in the field of maintaining personal laundry.

With the acquisition of Wasserij Gaverland, CleanLease confirms its ambition to further specialise in the treatment of personal items.

Together, CleanLease and Gaverland will have better opportunities to structurally invest in modernisation and in the development of innovative products and services for their customers. With a perfect spread of its branches across Belgium and the Netherlands, CleanLease is always close to its customers and can offer a more sustainable and efficient service thanks to this coverage ratio.

About CleanLease CleanLease is a leading company in the rental and management of high quality textiles to companies, institutions and individuals in the Benelux. In a rapidly changing environment CleanLease offers its clients professional and innovative solutions in sustainable textile care, efficient logistics and a total facilities concept. CleanLease’s working method focuses on customer relationship, accessibility, speed and sustainability. For more information: www.cleanlease.com.

About Gaverland For over 40 years, Wasserij Gaverland has been an independent laundry that focuses on various sectors specialising in care and industry. The activities of Gaverland focus on the rental of bath and bed linen, the care of personal laundry and the care of the company clothing of employees. Wasserij Gaverland is originally a Belgian company, with a Dutch owner. From a family business, Gaverland has grown into a leading service provider in healthcare and industry. In 2012, Gaverland opened its second branch in Alphen a/d Rijn and a third laundry in Zierikzee in 2017. Both locations specialise in personal laundry and industrial clothing. For more information: www.wasserijgaverland.be.

Categories: News

Tags:

Melijoe and Gimv join forces with The Babyshop Group to strengthen global leadership in high-end children’s fashion

GIMV

20/08/2020 – 10:55 | Portfolio

Melijoe, a leading multi-brand website for premium children’s fashion, announced today that it has joined forces with The Babyshop Group (BSG), a Swedish high-end children’s fashion group. The merger with BSG fits Melijoe’s ambition to further expand its vision and international presence to become the largest and most professional e-tailer for premium children’s fashion. Gimv and the Melijoe founder remain shareholders and join a group of recognized investors led by Verdane Capital.

Melijoe (Paris, www.melijoe.com ) was founded in 2007 when Parisienne Nathalie Genty, mother of five, launched a website offering some of the world’s most coveted children’s fashion brands.

Founded in 2007 by Nathalie Genty, mother of five with a passion for fashion and the internet, Melijoe (Paris, www.melijoe.com) has in just a few years become the privileged partner of major fashion houses. Today, the company offers more than 150 of the world’s most coveted children’s fashion brands on its website, with highly inspiring and aesthetic choices.

Gimv acquired a stake in Melijoe in November 2014, mainly to support the company in its international development towards market leadership in a global and at the same time fragmented fashion market in digital transformation.

To meet the desire of major brands to collaborate with a limited number of professional partners in a consolidating market, Gimv, as majority shareholder, has fully supported Melijoe’s strategy. A high-end positioning for an international customer base, a high-quality customer experience, an original product range and strategic partnerships with leading brands were key in this, more than a growth strategy based on volume. Thanks to this shared vision, the company was able to record sustainable international growth and is now ready for the next step, through the collaboration with BSG.

The complementarity between BSG and Melijoe is attractive: BSG’s well-developed back office (data management, acquisition marketing, retail logistics, etc.) can be deployed on a broader scale and enables the group to build further on an ambitious plan for the future.

“From my perspective, clothes are a reflection of children’s emerging personalities. When I created Melijoe, I dreamt of an online store where parents could be free to pick and play with fashion for their kids. Joining Babyshop Group will give me the opportunity to further expand my vision of what Melijoe and our new sister sites should be and represent globally.” comments Nathalie Genty, founder and CEO of Melijoe.

“Combining scale and deep sector expertise within an established but fragmented global niche market such as children’s fashion ensures the continued potential of the new Stockholm-London-Paris team. In the new group, operational capabilities and privileged relationships with consumers and A-brands should enable the very best customer experience in the business. “ add Guillaume Bardy, Partner and Gert Kerkstoel, Associate Partner at Gimv.

Through this transaction Melijoe founder Nathalie Genty and Gimv join a solid group of shareholders, with  Swedish Verdane Capital as main investor and benchmark investor for consumer internet companies in Northern Europe.

For more information, we refer to the press release of The Babyshop Group in attachment. No further financial details on this transaction are being published.

Categories: News

Tags:

Vaaka Partners’ successful 10 year journey with Musti Group finalized

Thursday 13.08.2020
Musti Oy

Vaaka Partners has sold the remaining shares in Musti Group in an accelerated bookbuild process together with EQT on August 12th 2020. This brought the successful 10 year journey with the company to an end.

Vaaka invested in Musti ja Mirri in 2010, when the industry was still relatively immature compared to other retail branches. However, the underlying market drivers were very attractive – non-cyclical demand and continuous historical growth based on healthy and sustainable drivers of pet population growth and pets becoming family members. Combining that with very dedicated and motivated company staff and the opportunity to apply best practices from other retail sectors, we eagerly began working and created a bold plan for the company, together with a CEO-to-be Mika Sutinen. Our clear target was to become the leading Nordic omnichannel pet retail chain. Mika then lead the company for the next 7 years and executed this plan very successfully.

One noteworthy milestone was the acquisition of Grizzly Zoo in Sweden in 2012 to bring what we felt was the Nordics leading pet retail concept to Sweden with a kick-start. EQT acquired the majority ownership in the company in the beginning of 2015, and Vaaka remained a ~10% shareholder after that transaction. Musti Group continued to expand and established presence in Norway. In February 2020, Musti Group became a publicly listed company in OMXNasdaq.

Since we acquired the company in 2010, the company has grown from €25 million net sales to €270m and is now the undisputed market leader in the Nordics. It has created new jobs with the employee count growing from 140 to 1100 today. Musti Group is effectively competing against foreign online competitors that generally pose a threat to retail companies and retail jobs. The business is healthy and profitable while growing rapidly and subsequently, the value of the company has grown more than 40-fold over this period. While the last 10 years have been very successful, the story is by no means over and we look forward to hearing great news from the company also going forward. Even if we are not part of the story anymore, we feel pride for being part of the team that got all this going a decade ago.

Categories: News

Tags:

KKR to Acquire Roompot Group from PAI Partners

KKR

LONDON–(BUSINESS WIRE)–Jun. 18, 2020– KKR, a leading global investment firm, today announces an agreement to acquire Roompot Group, a provider of holiday parks in Western Europe and #1 operator in the Netherlands, from leading European private equity firm PAI Partners. The transaction is subject to customary closing conditions, having already received positive works council advice. Financial terms are not disclosed.

Founded in 1965 in the region of Zeeland (the Netherlands), Roompot has progressively developed to become a leading holiday parks operator in Europe. The business directly owns and operates 33 parks in the Netherlands, Germany and Belgium, and works exclusively with more than 100 third-party park operators to support their booking and distribution efforts and provide development, design and refurbishment services.

Under PAI’s ownership, Roompot has invested significantly in upgrading and expanding its accommodations and opening new parks, developed a strong digital marketing and distribution platform, increased real estate ownership and grown revenue and EBITDA at double digit growth rates. The company now welcomes three million guests and 13 million overnight stays each year, generating revenues of almost EUR 400 million. PAI’s ownership of Roompot continued its strong track record of supporting the growth of consumer companies worldwide, including in the leisure sector with B&B Hotels most recently, and in the Netherlands where it is currently invested in Wessanen, a leading European healthy and sustainable foods company, and Refresco, a leading international bottler of beverages.

KKR will continue to support Roompot’s current management team with its further development into a leading pan-European operator, driven by supportive structural trends around domestic tourism. The investment continues KKR’s track record in the Netherlands with major recent investments including Upfield (formerly Unilever’s Spreads business), Exact Software (a leading provider of accounting software to SMBs) and Q-Park (a pan-European parking services provider).

Jurgen van Cutsem, CEO of Roompot Group, said: “As we change to new ownership we would like to thank PAI, who have been a hugely supportive partner to our team since 2016, and welcome KKR for the next phase. Our focus, as always, will be providing a great service for our leisure customers and third-party providers. We continue to see growing demand from our guests and from our corporate partners due to the leading platform we have put in place, providing a solid foundation to scale the business, also on an international level.”

Daan Knottenbelt, Partner and Head of the Benelux region at KKR, said: “Roompot is already a leading player in the region with a best-in-class management team and a strong recent track record. We see significant further growth potential based on a very strong development pipeline, continued expansion of Roompot’s owned assets and new corporate partnerships. KKR is investing in Roompot through our Core Investments strategy, which is our pool of capital for longer-term investments, and we look forward to working with Jurgen and his team over the coming years.” Joerg Metzner, Director at KKR, added that “We have been looking for a platform to invest behind in the fragmented European holiday parks market for some time. Our support for Roompot and its management team fits perfectly with our broader investment theme in the leisure space.”

Gaëlle d’Engremont, Partner and Head of Food & Consumer at PAI Partners, said: “PAI has accompanied Roompot through an exciting transformation journey since 2016. Roompot has significantly reinforced its offer and its leadership in the Dutch holiday park sector over the past four years under the leadership of Jurgen. We are delighted that KKR will support the strong ambitions of the team to continue this successful trajectory.”

KKR is making its investment through its Core Investments strategy, which represents capital targeting longer-term opportunities. Recent European investments through this strategy include the acquisition of Exact Software in the Netherlands in 2019.

About Roompot
Roompot is the second-largest operator and provider of holiday parks in Europe and a regional market leader in the Netherlands, with a strong and expanding position on the coastal regions. More than 2100 employees are motivated to let 3 million guests enjoy a well-earned vacation each year, representing 13 million overnight stays in Roompot’s 17,000 holiday accommodations. In total Roompot has more than 150 holiday parks in Denmark, the Netherlands, Germany, Belgium, France and Spain in its portfolio, from premium resorts to comfortable parks and pleasing campsites. www.roompot.com

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 PAI Partners
PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. It manages €13.6 billion of dedicated buyout funds and, since 1994, has completed 74 transactions in 11 countries, representing over €50 billion in transaction value. PAI Partners is characterised by its industrial approach to ownership combined with its sector-based organisation. It provides the companies it owns with the financial and strategic support required to pursue their development and enhance strategic value creation. www.paipartners.com

Media Contacts
KKR: international
Alastair Elwen / Alice Neave
Finsbury
+44 (0) 20 7251 3801 or kkr@finsbury.com

KKR: Netherlands
Corina Holla
Meines Holla & Partners
+31 (0)70 362 25 52 or corinaholla@meinesholla.nl

PAI Partners
Head of Communications: Matthieu Roussellier
+44 20 7297 4674
Greenbrook Communications: James Madsen / Fanni Bodri
+44 20 7952 2000

Roompot
PR & Corporate Communications: Baptiste van Outryve
+31 6 30 94 78 24

Source: KKR

Categories: News

Tags:

Kinnevik agrees to divest shares in Qliro Group

Kinnevik

Kinnevik AB(publ)(“Kinnevik”) today announced that it has agreed to divest 36,021,945 shares in Qliro Group AB (“QliroGroup”) to Rite Ventures, corresponding to 23.2percent of the shares in Qliro Group. As partial payment for thesold Qliro Group shares, Kinnevik will receive up to 47,439 shares in MatHem i Sverige AB (“MatHem”), corresponding to 0.5percentof the total number of shares in MatHem. The balance will be paid through a promissory note from Rite Ventures, which under some circumstances provides for a purchase price adjustment. The total consideration that Kinnevik expects to record in its financial statements immediately after closing of the transaction corresponds toSEK 195m.After the transaction, Rite Ventures will hold 29.9 percent of the shares in Qliro Group.

In connection with the transaction, other MatHem shareholders may also sell a portion of their MatHem shares to Kinnevikin exchange for Qliro Groupshares. If a sufficient number of MatHem shareholders exchange their shares, Kinnevik may come to divest its remaining stake of approximately 4 percent in Qliro Group through such exchange. Final completion of the transaction is subject to approval from the Swedish Financial Supervisory Authority, and closing is expected to take place in the third quarter of 2020.

For further information, visitwww.kinnevik.comor contact:Torun Litzén, Director Investor Relations

Phone +46 (0)70 762 00 50Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social valueby building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

Categories: News

Tags:

KAR Global announces $550 million strategic investment led by Funds advised by Apax Partners

Apax

CARMEL, Ind. – May 26, 2020: KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), a global vehicle remarketing and technology solutions provider, today announced the placement of $550 million in newly issued perpetual convertible preferred stock of KAR Global (“KAR”). The preferred stock has a 7.0% dividend which shall be paid in-kind for the eight quarters following closing, and thereafter in cash or in-kind at KAR’s option. The initial conversion price of $17.75 per share represents an approximately 42% premium to KAR’s closing price of $12.52 per share on Friday, May 22, 2020. The investment was led by funds advised by Apax Partners (the “Apax Funds”), a global private equity advisory firm, with participation by Periphas Capital, L.P. The proceeds of the transaction will be utilized to expedite the resumption of operations to meet market demand, sustain the company’s technology platforms and development pipeline and navigate the industry and economic recovery.

“KAR took early and decisive steps in response to COVID-19 to protect the safety of our employees and customers, preserve our capital position and keep our operations moving forward,” said Jim Hallett, Chairman and CEO of KAR. “This transaction will help us continue to support our global customers and further accelerate our digital transformation. Apax is the right strategic partner for our company, employees and stockholders, and their investment reinforces the strength of our brands, market position and long-term strategy for growth and expansion.”

“KAR is an internationally recognized leader in wholesale remarketing with a strong track record of innovation,” said Roy Mackenzie, Partner at Apax Partners. “The company’s market leading digital platforms and investments in data analytics uniquely position them to thrive in the new digital normal. We look forward to partnering with KAR’s progressive and entrepreneurial management team to transform their industry and drive long-term value for all stockholders.”

Goldman Sachs & Co. LLC acted as lead financial advisor, J.P. Morgan Securities LLC acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to KAR. Simpson Thacher & Bartlett LLP served as legal advisor to Apax Partners. Wachtell, Lipton, Rosen & Katz served as legal advisor to Periphas Capital.

###

About KAR

KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR Global’s unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services, including the sale of nearly 3.8 million units valued at approximately $40 billion through our auctions in 2019. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in more than 80 countries. Headquartered in Carmel, Indiana, KAR Global has employees across the United States, Canada, Mexico, U.K. and Europe. For more information, go to www.karglobal.com. For the latest KAR Global news, follow us on Twitter @KARspeaks.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies.

The Apax Funds are growth focused investors with a long and successful track record investing in leading software and digital businesses. The Apax Funds have invested more than $5 billion in this sub-sector, including Dealer.com, DealerTrack, Trader Corporation and Auto Trader Group plc.

For more information see: www.apax.com.

About Periphas Capital 

Periphas Capital focuses on growth and buyout investments in four primary industries: Technology Enabled Services, Business Services, Consumer and Industrials. The principals of Periphas bring 30 years of private equity investing experience and have led 37 investments with aggregate invested capital of $5 billion, including a previous investment in KAR, in addition to investments in Aramark, Burger King and Hexcel.

For more information see: www.periphascapital.com.

Forward-Looking Statement

This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.

Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements are described in our filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, potential risks and uncertainties relating to the novel coronavirus (COVID-19).

Contacts 

For Apax Partners

USA Media: Todd Fogarty, Kekst CNC | +1 212-521-4854 | apax@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For KAR

Media Inquiries: Tobin Richer | +1 (317) 249-4521 | tobin.richer@karglobal.com

Analyst Inquiries: Mike Eliason | +1 (317) 249-4559 | mike.eliason@karglobal.com

Notes to Editors 

London-headquartered Apax Partners (www.apax.com) and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

Categories: News

Tags:

Partnership between Guinness PRO14 and CVC Capital Partners Fund VII

Together to develop the league for the benefit of its fans, players, clubs and unions, in key rugby nations

The board of the Guinness PRO14 has completed a significant strategic partnership investment from CVC Capital Partners Fund VII (“CVC Fund VII”) that will allow the league to work towards its full potential – for the benefit of fans, players, clubs and unions in these key rugby nations over the years ahead.

Under this agreement, CVC Fund VII will acquire a 28 percent share of PRO14 Rugby from Celtic Rugby DAC, the Unions will retain the 72 percent majority share.

The partnership commitment will allow both PRO14 Rugby and the Irish, Italian, Scottish & Welsh rugby unions to continue to invest in the sport, both professional and amateur, to achieve its potential over the long term.

A portion of the investment will also be held centrally at PRO14 Rugby, for the Board to invest in further capabilities for the business and in upgrading league operations in line with its growth ambitions.

As part of this agreement, the Federazione Italiana Rugby (FIR), will also become a member of Celtic Rugby DAC, and receive a share of the investment.

Martin Anayi, CEO, will continue to lead the management team at PRO14 Rugby, working closely with CVC and the unions on execution of the commercial plan. The unions will also remain independently responsible for the sporting and regulatory elements of the league, via the Sporting & Regulatory Committee.

In the past four years, the Guinness PRO14 has performed well both on and off the field, doubling distributions to clubs and facilitating record investment back into the sport from the league. This has been recognised by CVC, who share PRO14 Rugby’s vision for the long-term potential of the league.

CVC was selected by PRO14 Rugby and the unions as their partner due to the extensive experience of prior CVC funds investing in multiple sports businesses, such as Formula 1, Moto GP and Premiership Rugby.

Dominic McKay, Chairman of Celtic Rugby DAC and Chief Operating Officer of Scottish Rugby, said: “I am delighted that we have managed to welcome CVC into the Guinness PRO14 as our partner. As a board, we have been ambitious in our outlook and have significantly developed the league in recent years. One of our key goals was to secure a strategic partner to help accelerate our plans and CVC bring a wealth of experience and great expertise in this regard.

“Sport, like all of society is dealing with major challenges currently that we could not have imagined just a few months ago, and it is testament to the strength of our partnership with CVC that they have committed to the game of rugby in a such a significant way.

“Their enthusiasm and commitment is a welcome vote of confidence in the future of the sport and the Guinness PRO14 as an international competition. Completing this partnership with CVC is testament to the hard work invested by many people who have focused to deliver a bright vision for PRO14 and enable it to realise its commercial value in the global sports market.

“We are also delighted that the FIR has now joined Celtic Rugby DAC as a shareholder after 10 years of participation in the league. Alongside my PRO14 Board colleagues at the Irish, Italian, Welsh and South African rugby unions I would like to warmly welcome CVC to the Guinness PRO14.”

Martin Anayi, CEO of PRO14 Rugby, said: “CVC’s show of faith has been impressive and is in keeping with their proven track record of success when it comes to sports investment, including Formula 1, Moto GP and Premiership Rugby. This partnership allows all of our stakeholders to plan for a sustainable period of growth, which will benefit the fans, the players and the game.

“We are very pleased to partner with CVC, who saw us as an ambitious, fast-paced and innovative organisation, situated across a number of core rugby nations that can deliver an increasing impact.

“We have been clear that we believe the Guinness PRO14 is a world-class club league, that is still in its growth phase and we are confident that it will become a major standard bearer in our sport. We are excited that CVC clearly shares that ambition and we look forward to working with them to deliver on the league’s promise in the years ahead.”

Categories: News

Tags:

AURELIUS subsidiary Office Depot Europe announces divestment of its Nordics business

Aurelius Capital

Munich/Venlo, May 14, 2020 – Office Depot Europe, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) completed the divestment of Office Depot Nordics to CEO Frank Egholm in a family-office backed Management Buy-Out transaction. The business, also servicing other Nordic markets as well as its core business in Sweden, is set to benefit from further growth due to its strong market position and solid financing.

A successful transformation lays the foundation for the MBO

Office Depot Europe’s decision to divest its business in Sweden and the wider Nordics region comes after a successful transformation of the business since its acquisition by AURELIUS in January 2017. Since then, Office Depot’s Nordics business has expanded its product and service offerings, its retail channel has been integrated into a multi-channel approach, and the business has continued to foster its position among the top 3 leading players in its core market, Sweden.

The goal is to become a market leader

Frank Egholm and the management team are excited to take on the next chapter in Office Depot Nordic’s growth and have great plans for the future, involving the continued digitalisation, product innovation and increased focus on servicing customers across all channels. Entering a MBO transaction is a firm testament of the parties’ confidence in the strength and profitability of the business.

“I’m truly excited to have this opportunity because Office Depot Nordic is a fantastic company. We have come a long way the past few years, but there is still a great potential for evolving the business further. This change will fuel our ambitions of becoming an even more successful player in the Swedish market, and this deal marks an important milestone for us all in achieving that goal. We already have a great team in place to take us there. Our employees are our best asset and we as a management team are ready for the challenge. I’m very pleased to be a part of Office Depot Nordics’ future, says Frank Egholm”.

Divestment of Nordics division follows the earlier divestment of the CEE division 

Office Depot Europe exited its CEE (Central Eastern European) business in November 2019. The transaction also followed a very successful transformation, positioning Office Depot CEE as the local market leader with a wide array of B2B products and services. The exit of Office Depot’s Nordics division follows the same strategic rationale, freeing resources to allow Office Depot Europe to focus on its stronghold European ecommerce centric business activities.

About Office Depot Nordics

Office Depot Nordics has its nucleus in Sweden. Together with the involvement of partners, it is also servicing customers in Norway, Denmark and Finland. With its 450 employees it is one of Sweden’s largest office suppliers covering the Nordics. Office Depot Nordics provide business supplies and services to help their customers work better and become more productive and efficient at work – regardless of their workplace. They are a single source supplier of the latest technology, core office supplies, print, and document services, business services, facilities products, furniture, and school essentials.

Categories: News

Tags:

HPEF III has successfully completed the exit of Odlo

Hercules Capital

On 13 May 2020, HPEF III completed the sale of Odlo to Monte Rosa Sports Holding AG

Odlo is a Swiss company with Norwegian roots. Founded in 1946, Odlo is a pioneer of the three-layer principle and inventor of sports underwear. From 1986, Odlo headquarters are based in Hünenberg, Switzerland, now with approximately 800 employees across multiple locations. Odlo offers performance sportswear in 6 categories: functional sport underwear, running, training, cycling, cross-country skiing and outdoor. Odlo is market leader within functional sports underwear in Germany, Switzerland, France, Austria and Italy. The Odlo brand is distributed worldwide in more than 35 countries.

HPEF III acquired Odlo in 2010. Following several years of mixed performance, Odlo was brought back to a trajectory of profitable growth. On 13 May 2020, HPEF III completed the sale of Odlo to Monte Rosa Sports Holding AG.

Categories: News

Tags: