Tag Archives: Consumer brands

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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Kinnevik to invest SEK 150 million in MatHem‘s SEK 500 million funding round, alongside leading pension company AMF

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it has committed to invest an additional SEK 150m in a funding round of approximately SEK 500m in MatHem. Also participating in the funding round is Swedish institutional investor AMF, investing SEK 280m to become MatHem’s third largest shareholder with an ownership stake of approximately 10%, as well as MatHem’s existing shareholders Verdane and Clas Ohlson.

MatHem is Sweden’s leading independent pure-play online grocery retailer with a strong household brand built over the past ten years. The company offers a broad range of grocery products and adjacent household consumables, catering to more than half of Swedish households.  With the additional investment of SEK 150m, Kinnevik has invested SEK 1.1bn in total in the company and has an ownership stake of 36%.

With more than SEK 650 billion in assets under management on behalf of four million customers, AMF is one of Sweden’s leading pension companies, one of the largest owners on Nasdaq Stockholm and one of Kinnevik’s largest shareholders. With the investment of SEK 280m AMF becomes MatHem’s third largest shareholder with a 10% ownership stake.

2019 was a transformative year for MatHem, focused on strengthening the organization to build a solid foundation for future growth. As part of the company’s growth ambitions, and to meet increasing customer demand, part of the raised capital will be used to fund the development of MatHem’s new environmentally certified warehouse in Larsboda, Stockholm. MatHem’s new CEO Johan Lagercrantz joined the company in December, bringing with him a breadth of experience from leading positions in the staffing industry and consumer services and a strong track-record of delivering tangible results. Furthermore, MatHem is today announcing two new independent board directors, Lidia Oshlyansky and Nina Jönsson.

Georgi Ganev, CEO of Kinnevik, commented: “MatHem continues to be at the forefront of the transformation in the grocery space, and a clear leader in its core market. We are delighted that AMF has decided to invest in the company and to be part of this journey. The funding round means that the company is well capitalized for the future, allowing Johan and his team to focus on growing the business and improving operational efficiency.”

Anders Oscarsson, Head of Equities at AMF, commented: “We are excited to invest alongside Kinnevik in MatHem as we share their conviction in the significant opportunity in transforming this large market. We have been impressed by the strong team at MatHem and their plans for the future.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email 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 value by 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.

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Sun Capital Partners Affiliate Acquires West Dermatology

Sun Capital

Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on investing in market-leading companies, today announced that its affiliate has completed the acquisition of West Dermatology (“West” or “the Company”), a leading, clinical, cosmetic and research dermatology platform with 55+ clinic locations throughout Arizona, California and Nevada. Terms of the private transaction were not disclosed.

Founded in 1962 and headquartered in Newport Beach, Calif., West Dermatology is a rapidly growing practice management group focused exclusively on clinical research, medical dermatology services, and cosmetic dermatology. The Company offers more than 800,000 annual patients cosmetic and clinical expertise and continued care for common skin conditions, cancer prevention and remediation, elective cosmetic procedures as well as critical, specialty services such as dermatopathology, innovative research trials and Mohs microsurgery.

West Dermatology boasts a strong foundation in the healthcare community, including maintaining long-term membership and leadership participation with the American Academy of Dermatology, Skin Cancer Foundation, American College of Mohs Surgery, American Society for Dermatologic Surgery, and the American Academy of Allergy, Asthma and Immunology.

“Dermatology is a recession-resistant and growing industry within the broader retail health landscape, and West is a premier player poised to grow further in partnership with Sun Capital” said Marc Leder, Co-Chief Executive Officer of Sun Capital. “We are excited to begin working with CEO Chris Kane and his team and look forward to growing West organically and through continued best-in-class add-on acquisitions.”

West Dermatology has executed 22 acquisitions since 2016 and has recorded sustained multi-year organic growth at more than twice the industry rate as a portfolio company of Enhanced Healthcare Partners.

“Having undergone significant growth over the past five years, West is now at a point where we are prepared to leverage our core competencies to grow in partnership with Sun Capital,” said Kane. “We’re confident Sun Capital’s proven expertise will help us to enhance operations, and better fulfill our mission of serving each of our patients to the best of our ability, every day.”

“West is a true strategic platform that benefits from a carefully assembled portfolio of best-in-class providers, a strong management team prepared to execute an ambitious growth strategy, great strategic payor relationships, and a deep bench of clinical and cosmetic dermatologists recognized as true thought leaders,” added Daniel Florian, Managing Director at Sun Capital Partners. “With support from Sun Capital, West will accelerate its disciplined growth strategy and will further build on the Company’s legacy of excellence.”

For more information, please contact:

Emily Meringolo

Stanton

646-502-3559

emeringolo@StantonPRM.com

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CVC Credit Partners supports the expansion of Alline Salon Group

Funding supports Vison Growth Partners’ expansion of Alline Salon Group and assists its ongoing growth strategy

CVC Credit Partners is pleased to announce that it has provided the first lien funding for Vision Growth Partners’ expansion of Alline Salon Group and going forward will further support the growth strategy through the provision of a delayed draw term loan facility. Cowen’s Debt Advisory Group acted as the debt advisor for the transaction.

Founded in 2018, Alline is a market leader in affordable hair care services. It now operates nearly 400 salons under the Supercuts, Cost Cutters and Holiday Hair brands, primarily located across Ohio, Pennsylvania and Michigan. The business was created by Vision Growth Partners, as a platform on which to execute a controlled roll up of Regis Corporation’s previously corporate-owned hair salons.

Michael Sarafa, Managing Partner at Vision Growth Partners, commented: “We are pleased to have teamed up with a lender which supports our vision for the growth of the business from both a strategic and financial perspective. CVC Credit was able to rapidly understand the intricacies of the business, which was key to the swift completion of the transaction.”

David DeSantis, Head of CVC Credit Partners’ U.S. Private Debt business, said: “Alline is a stable and attractive business, operating a successful franchise model in a recession resistant industry.” Andrew Eversfield, Director at CVC Credit Partners’ U.S. Private Debt, added: “Cowen was a great partner on this transaction, and we hold the Alline Management Team and VGP in high regard. We are excited to provide our support to help grow the business further in the years to come.”

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Moda Operandi raises $100 million in new capital

Apax Digital

31 January 2020

Equity Investment Led by New Enterprise Associates and the Apax Digital Fund 

New York – Jan 31, 2020: Moda Operandi, the world’s leading platform for fashion discovery, today announced it has raised $100 million in new equity and debt financing, led by existing investors New Enterprise Associates, Inc. (NEA) and the Apax Digital Fund, with additional participation from the Santo Domingo Family, Comerica Bank and TriplePoint Capital, among others.

Moda Operandi raises $100 million in new capital

Moda will use the proceeds to continue to invest in its core client experience, innovative shopping model, unique curation of fashion, fine jewelry, and home decor, as well as the data and technology systems that power the Moda platform.

“For the past eight years, Moda has disrupted the way people shop for luxury fashion,” said Moda Operandi CEO Ganesh Srivats. “This investment will enable us to build on that innovation, investing further in the client and designer experience and connecting more of the world’s best fashion to more people.”

Dan O’Keefe, Managing Partner of Apax Digital, said: “We continue to be impressed with the power of Moda’s brand and its positioning in the luxury market. Moda has been enhancing its technology capabilities as a world leading platform for fashion discovery and is led by a world-class team. We look forward to continuing to support their expansion.”

“Moda Operandi has really disrupted the traditional ecommerce model, using technology to give people unprecedented access to fashion,” said Tony Florence, General Partner and Head of Technology Investing at NEA. “It was a really big idea when we led the Series A, and today Ganesh and the team are executing on that data-enabled retail model at scale. We are thrilled to continue supporting the company in this latest round.”

The new commitment brings Moda Operandi’s total equity capital raised to date to $345 million.

About Apax Digital

The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit http://digital.apax.com.

Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 230 portfolio company IPOs and more than 390 mergers and acquisitions. www.nea.com.

About Moda Operandi

Moda Operandi is an e-commerce platform transforming the way people discover and shop for designer fashion. Through its innovative mix of commerce and content, Moda allows women and men to shop for what’s new and what’s next in designer fashion from the world’s leading emerging designers and luxury brands. Founded in 2010, Moda Operandi’s mission is to make it easy for designers to grow their businesses and consumers to realize their personal style. Today, Moda’s platform carries more than 1,000 brands and designers across fashion, fine jewelry and home, and ships to 125 countries. For more information, visit modaoperandi.com.

Media Contacts:

Moda Operandi

Alexandra Valasek | alexandra.valasek@modaoperandi.com

Apax Digital / Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
U.S. Media: Todd Fogarty, Connor Moriarty, Kekst CNC | +1 212 521 4800 | Apax@kekstcnc.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

NEA

Kate Barrett | KBarrett@nea.com

 

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CVC Fund VII to acquire D-Marin’s businesses in Greece, Croatia and the UAE

Company is an operator of premium yacht marinas in the Mediterranean and United Arab Emirates

CVC Capital Partners announces that CVC Fund VII has agreed to acquire the Greek, Croatian and the UAE businesses of D-Marin, a leading operator of premium yacht marinas in the Mediterranean and United Arab Emirates (UAE), from the Doğuş Group, a leading Turkish conglomerate.

Headquartered in Istanbul, Turkey, D-Marin, under concessions or management agreements, is an international operator of premium yacht marinas in Croatia, Greece, Montenegro, Turkey and the UAE, with several new locations identified across its current geographical footprint and beyond. All marinas in Turkey (Turgutreis, Didim and Göcek) will remain under the ownership of Doğuş Group while managed by D-Marin.

István Szőke, Managing Partner at CVC Capital Partners, said: “As our first investment in the sector, we have been attracted to D-Marin given it is a geographically diversified operator of well-invested premium marinas in the Mediterranean and the UAE. Using CVC’s global network and experience in growing companies internationally, we intend to create the leading global premium marina operating company through both organic growth and acquisitions.”

Burak Baykan, CEO of D-Marin, commented: “I am proud of the success achieved by D-Marin to date. Working with Doğuş Group we have put in place a solid foundation, on which we will now plan to build a global group. We are delighted to have secured the support of CVC, a leading global investor, to expand D-Marin internationally and take the company to the next level.”

The transaction will be finalised upon fulfillment of relevant governmental approvals.

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Questel acquires NRI Cyber Patent

ik-investment-partners

Questel, the global intellectual property software and services company, has signed the acquisition of NRI Cyber Patent in Japan, an IP Business Intelligence and Intellectual Asset Management solutions provider.

As a market leader founded 25 years ago, NRI Cyber Patent has over 50 employees and 1,000 customers. With this acquisition, Questel is now deeply embedded in the Japanese community. Questel has been present in the Japanese marketplace since the 90s through various distribution agreements.

Three years ago, Questel accelerated its investments by acquiring ULT (Questel Japan today) and Multiling with its Japanese subsidiary. The acquisition of NRI Cyber Patent makes Questel the number one provider of IP software and services in Japan.

For more information, please visit www.questel.com

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Ardian sells Riemser to international pharmaceutical company Esteve

Ardian

Greifswald/Berlin/Frankfurt/Barcelona, 8 January 2020: Ardian, a world-leading private investment house, has come to an agreement to sell all the shares of the German pharmaceutical company RIEMSER to ESTEVE, an international pharmaceutical company headquartered in Barcelona. Financial details of the transaction will not be disclosed. The closing of the transaction is subject to antitrust approval and is expected in the first quarter of 2020.

RIEMSER is a provider of specialty pharmaceuticals in human medicine headquartered in Greifswald and Berlin. The Company has subsidiaries in Great Britain, France and Spain, and an international distribution network across more than 50 countries.

With the acquisition of RIEMSER, ESTEVE broadens its access to the fast-growing hospital market, in which RIEMSER is particularly successful. Today, RIEMSER generates about 80 percent of its sales with products for clinical application. Numerous RIEMSER drugs are considered ‘gold standard’.

Ardian acquired RIEMSER in 2012 and, together with the management team, successfully refocused the company on its core business of specialty pharmaceuticals, which it acquires, licenses, markets and distributes. Today, the company’s product portfolio comprises prescription drugs for the treatment of serious diseases in oncology, neurology, infectiology, as well as niche indications in cardiovascular medicine, dermatology, rheumatology and infectiology.

RIEMSER has divested from areas which are not part of its core business, such as the dental and veterinary business and the medical devices business. The proceeds were invested in the licensing and acquisition of products, the acquisition of companies in the specialty pharmaceuticals sector and the expansion of indications for existing products:

RIEMSER acquired Keocyt in France in 2014 and Intrapharm, based in England, in 2015. In 2016, the acquisition of the CNS division of Dolorgiet followed, whose products expanded the portfolio by the therapeutic area of neurology. In 2019, RIEMSER bought the Spanish distribution service provider Zaltanpharma, which has since been renamed RIEMSER Iberia.

In the area of drug approval and in–licensing, RIEMSER, among others introduced the active ingredient triamcinolone hexacetonide in Canada and concluded an agreement with the Japanese pharmaceutical company Eisai on the exclusive development and marketing rights for Prialt in Europe in 2018; in 2019 Keocyt received a new EU approval for Zanosar in eleven European countries.

Christof Naményi, Managing Director in the German Ardian Buyout team, said: “Ardian has extensive experience as an investor in the European healthcare, life sciences and pharmaceutical markets. We are pleased that we have been able to successfully leverage our expertise and network with RIEMSER, supporting the company’s acquisition strategy, corporate and organisational development, and executive recruitment. We would like to thank Konstantin von Alvensleben, his management team and all RIEMSER employees for the excellent cooperation and wish them all the best for the future.”

Konstantin von Alvensleben, CEO of RIEMSER, added: “When I joined RIEMSER in 2015, Ardian had already set the course for the further development of the company. I am pleased that since then we have been able to accelerate this process and together reached further milestones in the growth and internationalisation of the business. Ardian’s support was invaluable in achieving this. We are very proud that with Esteve, a strong family-owned pharma company with a long tradition, has chosen to acquire Riemser and we are looking forward to entering the next stage of our development. Being part of a much larger Group will support our joint growth. ”

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 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

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