Tag Archives: Consumer brands

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.”

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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.

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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.

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AURELIUS portfolio company completes sale of online bookshop WORDERY

Aurelius Capital

Munich / London, May 1, 2020 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) (“AURELIUS”) today announces the sale of the online specialist bookseller Wordery by its portfolio company Bertram Group to Elliott Advisors.

The sale of Wordery follows the sale of Bertram Group’s library businesses, Erasmus Antiquariaat en Boekhandel BV and Houtschild Internationale Boekhandel BV, to Italian Casalini Libri SPA, a strategic partner and family-owned business, at the end of March.

These successful disposals of the e-commerce and library businesses have secured many jobs and, in both cases, compliment their new owners’ existing models, thereby securing the futures of both businesses. Wordery has performed well under Aurelius’ ownership receiving prestigious awards continually for the last two years as the best online bookshop. Separately, as a result of the economic uncertainty created by Brexit and more recently the Covid-19 pandemic, AURELIUS is reviewing its strategic options for the Bertram wholesale division, Education Umbrella, a key supplier of books to schools and Dawson Books a major partner of UK Universities.

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Belgian wallpaper producer Grandeco expands its shareholder base

GIMV

20/03/2020 – 07:30 | Portfolio

Grandeco announces a reorganisation of its shareholder base: Down2Earth Capital (D2E) comes in as majority shareholder, while Gimv and management remain on board and reinvest significantly. By broadening the investor group, Grandeco seeks to strengthen its position as a future-proof market leader in decorative wallpaper, including through potential strategic acquisitions.

Grandeco Wallfashion Group Belgium (Tielt – BE, www.grandecogroup.com) is one of the world’s leading wallpaper producers. With a state-of-the-art Belgian production plant and a compound average growth rate of 3.2% in recent years, it is largely outperforming the market. Grandeco has six sales offices in Belgium, the United Kingdom, France, Poland, Russia and Germany, a dynamic team of more than 300 employees and is represented in more than 80 countries. Today, Grandeco is an innovative, customer-oriented group that responds to the demand for a personal style in a global market through distinguished collections and digital printing.

Patrick Molemans, CEO Grandeco, about this transaction: “With Gimv’s unconditional support we have succeeded in transforming ourselves into an attractive and strongly market-oriented company. The time is now right to shift up a gear: with new shareholder D2E we want to further strengthen Grandeco’s market power going forward. With carefully targeted acquisitions and a continued  focus on organic growth and returns, we will maintain our  leading sustainable position (product range and customer portfolio) and achieve the best results in the worldwide market for decorative wallpaper.”

Tom Van de Voorde, Managing Partner Gimv and contact person for Grandeco so far: “After the difficult years at the time of the financial and economic crisis in 2008, Grandeco has become the future-proof market leader in decorative wallcovering thanks to the continued efforts of its staff and management, through forward-looking investments in growth and technology and through its commercial repositioning.”

Barbara Arnst, Partner in the Connected Consumer platform of Gimv and now part of the deal team, adds: “With a lasting belief in the company we look forward to positioning Grandeco Group even more as a contemporary, digital and sustainable player towards the modern consumer. Together with our partner D2E, we want to further realize the external growth opportunities – including strategic acquisitions.”

Alain Keppens, Partner Down2Earth Capital, about this transaction: “Grandeco is a market performer in a highly fragmented industry, the company has achieved above-average growth and profitability in recent years. In addition to its strong reputation in analogue printing, the company has a clear advantage in the area of digital printing. Together with our partner Gimv and the strong management team, we look forward to further building the company into one of the Pan-European market leaders.”

Grandeco is part of Gimv’s Connected Consumer platform, which invests in companies with a clear vision of the needs and preferences of today’s consumer,

Over the entire period, the investment offered a positive return with only a small impact on the net asset value of Gimv per 30 September 2019. No further financial details on the transaction are being published.

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Latour acquires Waterloo Air Products

Latour logo

Investment AB Latour has, through its wholly-owned subsidiary Swegon Group AB, acquired Waterloo Air Products, a leading manufacturer of grilles and diffusers in the UK. The company was founded in 1961 and has 140 employees with the head office and manufacturing located in Aylesford. Net sales in 2019 amounted to 12 MGBP.

“The UK, as Europe’s second largest ventilation market, has long been a priority for Swegon and several previous successful UK acquisitions has contributed well to the overall growth and profitability of the group. This acquisition gives us a market leading position in grilles and diffusers, enhancing our ability to serve our customers with a full offering for high indoor environmental quality”, says Hannu Saastamoinen, CEO at Swegon Group.

”Becoming part of Swegon will provide the capability to accelerate our growth. Our product range is the perfect complement to Swegon’s overall offering and will allow both businesses to develop and grow”, says Russell Shenton, Managing Director at Waterloo.

 

Göteborg, 11 March, 2020

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

 

For further information, please contact:
Hannu Saastamoinen, CEO Swegon +46 31 89 58 10
Gustaf Ahlenius, Director Corporate Development Swegon +46 31 89 58 19

 

Swegon Group is a market leader in energy efficient ventilation and indoor climate products and systems. Swegon has subsidiaries in 16 markets, distributors all over the world and 16 production plants in Europe, North America and India. The company employs more than 2,400 people with an annual turnover exceeding SEK 6 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 55 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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Firmenich to acquire DRT from Ardian

Ardian

Firmenich to Become a Key Player in Renewable Ingredients for Perfumery and Beyond

Geneva, Switzerland, March 6, 2020 – Firmenich today announced that it has entered into exclusivity with Ardian, Tikehau Capital and family shareholders to acquire Les Dérivés Résiniques et Terpéniques (“DRT”).  DRT is a world leader in plant-based chemistry, mainly from pine trees, and is one of the leading suppliers globally of high quality, renewable ingredients.

“I am thrilled to bring DRT’s unique capabilities for developing sustainable ingredients to Firmenich. This proposed combination builds on our business partnership of more than 30 years and our established track record of successful co-development in a long-standing joint venture,” said Patrick Firmenich, Chairman of the Board, Firmenich. “We thank Ardian and Tikehau Capital for their strong stewardship and we are delighted to welcome all DRT colleagues to Firmenich. We share the same passion for our customers, sustainability, as well as strong family values.”

“Firmenich would be the ideal home for DRT,” said Thibault Basquin, Head of Americas Investment and Managing Director at Ardian Buyout. “I would like to warmly thank Laurent Labatut and his team for our partnership over the past few years. Ardian has enabled DRT to accelerate its growth, invest in new projects and enhance its sustainability approach. Firmenich has been an important strategic partner for DRT for many years and would be uniquely positioned to bring DRT’s product development capabilities to the next level. As a family-owned business that is committed to innovation, Firmenich will provide a great environment for DRT’s colleagues.”

Emmanuel Laillier, Head of Private Equity at Tikehau Capital added: “Tikehau Capital has supported DRT’s growth strategy and global development for six years. We are today very pleased to help bring DRT and Firmenich together, which is a key step for the continuation of its development.”

“DRT would further strengthen our leading Perfumery & Ingredients business enabling us to offer our customers the world’s best palette of renewable and sustainable ingredients,” said Gilbert Ghostine, CEO, Firmenich. “DRT would bring new capabilities in health & nutrition, cosmetics, as well as a number of new markets, including adhesives, coatings and agriculture. This acquisition reinforces our presence in France, which is our second largest market where we have been established for more than 120 years. I look forward to partnering with all our customers to support their transformation for a sustainable future.”

“We share a long-standing relationship with Firmenich as it is one of our main partners,” explains Laurent Labatut, CEO of DRT. “Firmenich is renowned for its cutting-edge research that feeds into the broadest and finest ingredients palette. Our joint innovation capabilities would open up new opportunities to support our clients across our entire product portfolio. Together we look forward to opening a new chapter with a shared ambition to design best-in-class sustainable ingredients for our customers.”

DRT is at the forefront of developing sustainable, renewable and naturally-derived ingredients from terpenes and rosin derivatives. DRT offers green alternatives for a range of applications and markets. Founded in 1932 and headquartered in Dax, France, DRT developed a unique, backward integrated business model over many decades, including access to sustainable raw materials, best-in-class extraction and distillation capabilities and advanced innovation processes. DRT has been a family-owned company for most of its history and has grown thanks to its commitment to long-standing relationships with its suppliers and its customers.

DRT has a turnover in excess of €550 million, employs more than 1,500 people around the world and is operating through a global footprint with four production sites located in France, two in the USA, two in India and one in China.

Financial terms of the deal have not been disclosed. The proposed transaction remains subject to several conditions including the consultation of the relevant employee representatives and customary approvals by the antitrust authorities.

Firmenich was advised by Goldman Sachs International, Raphaël Financial Advisory and Bredin Prat. Ardian was advised by Citigroup, Rothschild & Co, Latham & Watkins and White & Case.

ABOUT FIRMENICH

Firmenich is the world’s largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world’s best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.9 billion Swiss Francs at end June 2019.
www.firmenich.com

ABOUT DRT

Founded in 1932, DRT specializes in the development of gum rosin and turpentine extracted from pine resin. DRT’s head office is located in Dax, France and sells its products around the world. DRT has a diversified product portfolio of more than 300 ingredients addressing a variety of end markets. DRT operates 9 manufacturing facilities either directly or with joint venture partners.
www.drt.fr

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 680 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 around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT TIKEHAU CAPITAL

Tikehau Capital is an asset management and investment group which manages €25.8bn of assets under management (as at 31 December 2019) and shareholders’ equity of €3.1 billion (as at 30 June 2019). The Group invests in various asset classes (private debt, real-estate, private equity, capital markets strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 500 staff (as at 30 September 2019) in its Paris, London, Amsterdam, Brussels, Luxemburg, Madrid, Milan, New York, Seoul, Singapore and Tokyo offices.

Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)

www.tikehaucapital.com

Press contacts

Firmenich

Heidi Salon

heidi.salon@firmenich.com
Tel.: +41 22 780 5438
DGM Conseil: Christian d’Oléon
chrisdo@dgm-conseil.fr; +33 6 08 49 89 07
DGM Conseil: Quentin Hua
quentin.hua@dgm-conseil.fr;+33 6 28 63 27 29
Ardian
Victor Tsvetanov
VTsvetanov@headlandconsultancy.co.uk
Tel.: +44 207 3435 7469
DRT
Flore Larger
flarger@image7.fr
Tel.: +33 1 53 70 74 90
Tikehau Capital
Julien Sanson
press@tikehaucapital.com

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CapMan Buyout exits INR to Dansani

CapMan Buyout Press release
5 March 2020 at 5 p.m. EET

CapMan Buyout exits INR to Dansani

Funds managed by CapMan Buyout have agreed to sell INR (Iconic Nordic Rooms) to Danish bathroom group Dansani.

INR is the Nordic market leader within shower solutions and has a strong position in bathroom furniture, mixers and towel dryers delivering 60,000 shower solutions and 30,000 pieces of furniture annually. INR’s net sales were SEK 402 million in 2019. The company employs ca 115 people.

”During CapMan’s ownership period, we have developed the business both organically and through strategic M&A. We made an add-on acquisition of Sanka, the leading player in shower solutions in Finland, in the fall of 2010, and established INR as one brand for all products and markets. Also, several important operational initiatives have been conducted, including development of a new modular based furniture line,” tells Johan Pålsson, Co-managing Partner at CapMan Buyout.

“In addition, the opportunities and risks related to sustainability in INR’s operations and value chain have been an essential part of the company’s work these past years,” Pålsson continues.

The acquisition makes Dansani/INR a market leader within bathroom furniture and shower enclosure solutions in the Nordic countries. Dansani has a very strong position on the Danish market and INR has a strong position in Sweden, while both companies are solidly represented in Norway and Finland. The combined turnover in the Nordic countries will be in excess of DKK 500 million.

“I have appreciated the close and constructive cooperation with CapMan during my years as CEO. This merger means a tangible lift for INR’s employees and for our customers, who will benefit from both companies being able to supply a wider range of products, services and expertise. I am delighted to pass on the baton to Carsten Friis, who will be CEO of the new Dansani/INR constellation,” says Per Skårner, CEO of INR.

After the takeover, Skårner is stepping down from operational responsibility, but will continue as a board member of INR/Dansani.

“INR is a perfect match for Dansani, and the two companies complement each other well, both with their product ranges and market positions and with their corporate culture. Following the purchase, Dansani/INR will be a significant player in our prioritized product categories and primary markets. As a single unit, Dansani/INR will have the necessary strength to reinforce sales in our present markets and expand into new ones. I am extremely pleased that this purchase has been successful,” states Carsten Friis, CEO of Dansani.

CapMan Buyout IX fund made the investment in INR in 2010 through the merger of INR and Aspen. The transaction is expected to close within two weeks.

Livingstone acted as financial adviser to CapMan in the sale of INR.

 

For more information, please contact:

Johan Pålsson, Co-Managing Partner, CapMan Buyout, tel. +46 705 956 224
Carsten Friis, Owner and CEO, Dansani A/S, tel. +45 21 78 66 98
Johan Nyman, Nordic Head of Sales and Marketing, INR Nordic AB, tel. +46 739 40 05 29

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. More information at www.capman.com.

INR Nordic AB

INR designs, manufactures and sells bathroom furniture, tailored shower solutions, accessories and towel heaters. The design is simple Scandinavian, high quality products with attention to detail. INR was established in 1988 in Scania in Sweden, with headquarters in Malmö and production facilities in Jönköping. The CapMan equity fund has owned INR since 2010. INR’s main markets are in Sweden, Norway and Finland. See more at www.inr.se.

Dansani A/S

Dansani A/S develops and markets bathroom products, and has deep roots in traditional Danish design, where skilled craftsmanship, simplicity and functionality are at the core. Dansani was established in 1983 with headquarters in Haderslev and supplies stylistically stringent solutions for quality-conscious customers. With subsidiary companies in the UK, the Netherlands, Germany, Norway and Sweden, more than 80 per cent of Dansani’s turnover is generated outside Denmark. See more at www.dansani.dk.

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Oakley Capital acquires Globetrotter

oakleycapital

Oakley Capital (“Oakley”) is pleased to announce that it has agreed to acquire a majority stake in Globe-Trotter Group (“Globe-Trotter”), the British luxury luggage brand, from entrepreneur Toshiyasu Takubo. As part of the transaction, Mr Takubo, who has developed the brand significantly in the Japanese market, will retain a minority stake in the company.

Founded in 1897, Globe-Trotter is a British luxury luggage brand. Its world-renowned suitcases are known for their distinguished design and construction, with products that are handcrafted in the UK by skilled artisans using original manufacturing methods and machinery. Globe-Trotter luggage has built a loyal customer base that includes a number of prominent and influential individuals, while the business has also collaborated with numerous premium brands including Hermès, Tiffany, Gucci, Berluti and Aston Martin.

Through its investment, Oakley intends to strengthen Globe-Trotter’s positioning in the growing luxury travel luggage market, via continued online and offline expansion, product innovation leadership and operational excellence. The investment builds on Oakley’s experience with consumer brands and follows Fund III’s recent investment in iconic homeware brand Alessi. Both companies are expected to benefit from the Oakley team’s expertise and operational experience in branding and digital marketing, built through its successful track record in investments such as Parship Elite and Facile.it.

Peter Dubens, Managing Partner of Oakley Capital, commented:

“Globe-Trotter is an iconic British brand and we are delighted to invest in a company with such unique heritage. Oakley believes the brand is well positioned to become a truly global player in the luxury luggage market and is looking forward to partnering with Mr. Takubo and the company at this exciting stage.”

“Having owned and developed Globe-Trotter for over 20 years, I am very happy to have found an experienced and supportive partner in Oakley to help accelerate the growth of the brand in the coming years. I look forward to being part of that journey alongside them.”
Toshiyasu Takubo
CEO of Globe-Trotter

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Oakley Capital agrees sale of atHome to Mayfair Equity Partners

Oakley

Oakley Capital (“Oakley”) is pleased to announce that it has reached an agreement to sell a majority stake in atHome Group (“atHome”), a leading online classifieds and mortgage broking business in Luxembourg, to Mayfair Equity Partners, a U.K. based buyout and growth capital investor. Following the transaction, Oakley Fund III will retain a minority stake in the business.

Fund III originally invested in atHome in 2017, as part of the acquisition of a portfolio of classifieds businesses, which comprised Casa.it in Italy and atHome.lu in Luxembourg. Under Oakley’s ownership, atHome has successfully consolidated its leading market position in its core property classifieds market, whilst expanding into mortgage broking and automotive classifieds through strategic bolt-on acquisitions. Over the three years of Oakley’s investment, atHome has increased EBITDA by over 80% and its websites are among the most visited in Luxembourg.

Following the transaction, Fund III will retain its stake in Casa, which continues to benefit from the growth in the Italian online property classifieds sector, as well as a minority stake in atHome. The partnership with Mayfair and the existing management team will allow Fund III to participate in the future growth of atHome as it continues to expand on its market leading offering to consumers and customers, and deliver growth across its core property, mortgage and automotive verticals.

Macquarie Capital acted as atHome’s financial advisor in connection with this transaction.

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