Ferd takes stake in online grocery retailer MatHem

Ferd has taken its first ever step in the grocery industry, with Ferd Capital having recently invested SEK 100 million in the Swedish online grocery retailer MatHem.

MatHem is the largest online grocery retailer in Sweden, and reported revenue of nearly SEK 1 billion in 2016.

“We expect to grow by between 30% and 40% this year. The plan is for us to be profitable by the end of the year”, commented Tomas Kull, CEO of MatHem, in an article published in Finansavisen earlier this year. Tomas Kull started the company with his wife.

Scandinavian owners
Ferd invested in MatHem in close collaboration with its largest shareholder, the private equity company Verdane Capital, which owns 36% of the company.

Ferd Capital has invested around SEK 100 million in MatHem, giving it a 6% stake. Denmark’s Anders Holch Povlsen, who owns the international fashion company Bestseller, and Karl-Johan Persson, the majority shareholder in H&M, also invested in MatHem at the same time. The former now owns 21% of the company and the latter 10%, with the company’s founders keeping around 12%.

Founder Tomas Kull is very pleased that Ferd has come on board, particularly because Ferd is a capital-rich owner with a long-term investment horizon that also cares about social responsibility.

“Ferd’s funds will enable us to continue to grow while maintaining quality and launching new projects”, commented Tomas Kull to ICA Nyheter, a specialist Swedish grocery publication.

Big potential
From Ferd Capital’s perspective, MatHem represents an exciting investment in a new industry.

“We are impressed with what MatHem has achieved. The company is growing very strongly while delivering a high-quality service to consumers. Investing in MatHem also represents an opportunity to gain exposure to the grocery market, and specifically to a distribution channel that is growing strongly”, comments Håkon Glimstad Kristiansen, Senior Investment Manager at Ferd Capital.

Håkon Glimstad Kristiansen and his colleague Kristian Eikre, Head of Special Investments at Ferd, worked on the investment case for MatHem together. Kristian Eikre is in no doubt that online grocery retailing represents a big and growing market.

“We don’t think physical shops will disappear, but this is without doubt an enormous market”, comments Kristian.

In connection with the investment, Ferd analysed the online grocery retailing markets in Scandinavia. The conclusion was that Sweden has made much more progress than Norway.

The entire article is available (in Norwegian) here.

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Plantasjen is acquiring SABA Blommor AB

Ratos

Ratos’s subsidiary Plantasjen is acquiring SABA Blommor AB, one of the leading service providers of in-store solutions for flowers in Sweden. With over 700 points of sales across the country, mostly in the grocery segment, the acquisition propels Plantasjen’s journey from garden center into a leading brand for plants.

Plantasjen is strengthening its position through the acquisition of SABA Blommor AB from SABA Logistics, a Dole Food Company. The company has approximately 160 employees, and an annual turnover of approximately SEK 330m. With the acquisition Plantasjen’s offer leaps from 40 garden centers to over 700 points of sales.

“Through combining SABA’s more than 700 points of sales and competence as a leading supplier of flowers to the grocery segment, with Plantasjen’s industry leading supply-chain and know-how of plants, we will increase the availability for our customers. The acquisition is an important part of our strategy to create a unique offering with an outstanding supply-chain and increased market presence for more people to enjoy life with plants,” says Plantasjen’s CEO Jon Abrahamsson Ring.

In addition, SABA is not present in Norway and Finland where grocery sales of plants are less developed but fast growing which provides additional opportunities for Plantasjen’s growth going forward.

The acquisition is subject to approval by the relevant authorities and is expected to be completed in the second quarter of 2017

– See more at: http://ratos.se/en/Press/Press-releases/2017/Ratos-AB-Plantasjen-is-acquiring-SABA-Blommor-AB/#sthash.OGSlbFhd.dpuf

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3i to invest €120m in Lampenwelt to support international expansion

3i Group plc – link to home page

3i Group plc (“3i”) today announces that it has agreed to invest €120m in Lampenwelt, the largest European online specialist in the lighting space. 3i will invest alongside management and one of the current owners of the business, Walter Neumüller. In addition, 3i will provide a short term refinancing loan to Lampenwelt of €54 million which is expected to be refinanced shortly after completion.

Founded in 2004 by Thomas Rebmann and his brother Andreas Rebmann, Lampenwelt is the #1 specialty online retailer of lighting products in Europe. The company is headquartered in Schlitz near Frankfurt am Main, Germany. From there, it distributes own-brand and 3rd party products to customers in 12 countries across Europe. Following the transaction, the company will retain its global headquarters in Schlitz and will continue with its plans to open a new warehouse in Schlitz in the coming months.

Lampenwelt differentiates itself from its competitors through an extensive range of over 45,000 products, in-depth product knowledge, excellent customer service and high product availability. The company generated €61m of sales in 2016, of which 45% came from outside Germany, and has grown strongly in Germany and through a steady roll-out across Europe in recent years.

3i has been following Lampenwelt’s successful growth for several years and during 2016 approached the company to discuss a potential investment in the business. 3i was therefore able to undertake its diligence outside of a formal sale process, with full access to the business and senior management. Lampenwelt’s growth plans fit well with 3i’s strategy of supporting mid-sized companies to grow internationally.

Peter Wirtz, Managing Director, 3i Germany, commented:
“We are investing in a successful company with strong growth potential. We believe there are significant opportunities for Lampenwelt to further expand internationally and build on its best-in-class digital and online marketing capabilities. We are looking forward to working with the excellent management team to realise these ambitions.”

Thomas Rebmann, CEO of Lampenwelt, added:
“We are delighted to be partnering with 3i for the next stage in our growth story. 3i has extensive experience in the consumer sector and an impressive network which will help us enlarge our footprint in Europe.”

Walter Neumüller, current co-owner of Lampenwelt, commented:
“As the owners of Lampenwelt, we originally had an investment horizon beyond 2020. However, after its direct approach, 3i convinced us that as an experienced investor they would be able to strongly support Lampenwelt in its ongoing internationalisation efforts. There is a strong cultural fit between Lampenwelt and 3i and I am glad to be able to guarantee continuity both as a co-shareholder and as a member of the Lampenwelt Board also going forward.”

Jochen Wilms, a seasoned expert in both the building supply and online industries with prior experience at Bertelsmann, Schüco and Grohe, will join the board as Executive Chairman and co-invest alongside 3i and management. Thomas and Andreas Rebmann will continue in their roles as CEO and COO respectively.

The transaction is subject to customary and anti-trust approvals.

-Ends-

For further information, contact:

3i Group plc
Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Notes to editors:

About Lampenwelt

Lampenwelt is the largest specialty online retailer of lighting products in Europe. Headquartered in Schlitz near Frankfurt am Main, the company generated €61m sales with around 240 employees in 2016. Lampenwelt is led by the brothers Thomas and Andreas Rebmann, who founded the company in 2004. Lampenwelt delivers over 45,000 own-brand and 3rd party products to customers in 12 countries across Europe.

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrials and business and technology services industries.

For further information, please visit: www.3i.com

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Bregal Unternehmerkapital partners with Embassy, a Swiss luxury watch retail company

Bregal unternehmerkapital

Lucerne – Embassy Jewel AG, headquartered in Lucerne, Switzerland, has gained an additional shareholder, Bregal Unternehmerkapital, serving as a partner for growth. The agreement was signed by the owners – Petra and Patrik König. With the support of Bregal Unternehmerkapital, the luxury watch retail company plans to foster further growth. Both parties agreed to not publish further details about the transaction.

Since its foundation in 1970 by Kurt König, the father of Petra and Patrik König, Embassy has grown steadily. Today, Embassy is one of the five largest retail companies in the Swiss watch market and stands for the highest level of quality for more than 45 years. The highly respected and well-known retail company operates five attractively located stores in Lucerne, the Swiss watch capital, as well as one shop in St. Moritz. With watches and jewelry from distinguished brands as Breguet, Blancpain, Cartier, Jaeger-LeCoultre, IWC, Vacheron Constantin, Audemars Piguet, Breitling and numerous other manufacturers, Embassy appeals to an international clientele. Consequently, Embassy continues to thrive on Lucerne’s tourism strategy, which follows highest quality standards and class. Together, the shareholders plan further investments to strengthen the branch network and the in-store infrastructure to implement an even more personalized customer approach.

“We are delighted to join forces with the ideal partner Bregal Unternehmerkapital who will support our long-term growth plans” notes Embassy’s CEO Patrik König. “Bregal itself is part of a family-owned retail business, which has grown over generations and shares our values.” Florian Schick, Managing Partner of Bregal Unternehmerkapital GmbH, adds: “Our philosophy is to collaboratively support the growth of small and medium-sized enterprises with capital, know-how and an international network of experts to create lasting values in a long-term relationship. Embassy has exceptional growth potential in an attractive market. We are glad to support Embassy’s next growth phase together with Petra and Patrik König and the current management team around Patrick Frischknecht.”

Embassy store

The stake in Embassy represents the sixth investment by the current fund, and is the second transaction in Switzerland. At the end of 2016, Bregal had acquired a majority stake in Kunststoff Schwanden AG, a supplier of complex plastic parts and components in the Swiss canton of Glarus as part of a succession arrangement.

About Bregal Unternehmerkapital

Bregal is part of a family-owned business that has been built up over generations. Its investment activity is free of institutional constraints, based on long-term commitment and independent of developments in the financial markets. Bregal identifies companies, with strong management teams, that are regarded as market leaders or “hidden champions” in their particular segment. Flexible financing and transaction structures enable Bregal to acquire both minority and majority stakes. In doing so, Bregal is also able to handle complex industry spin-offs, management buy-outs and succession situations in a sensitive, non-dogmatic manner. Bregal aims to help companies to achieve a sustained improvement in sales and profitability, and provides them with capital, proven financial expertise and access to a broad network of entrepreneurs and industry experts.

Media contact

IRA WÜLFING KOMMUNIKATION GmbH
Florian Bergmann Ohmstr. 1, D-80802 Munich
Tel. +49 89 2000 30-30
E-Mail bregal@wuelfing-kommunikation.de
www.wuelfing-kommunikation.de/en

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Sunrise Capital II’s Asamiya Co., Ltd. merges with Meiwa Co., Ltd. to form LIFEDRINK COMPANY Inc.

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Tokyo, Monday 16 January, 2017

– CLSA Capital Partners, the alternative asset management arm of CLSA, is pleased to announce Sunrise Capital II ’s (“Sunrise II”) Asamiya Co., Ltd. (“Asamiya”), a low-cost beverage manufacturer headquartered in Osaka, and Meiwa Co., Ltd. (“Meiwa”), a beverage wholesaler headquartered in Tokyo, have reached an agreement to merge and form a new company, which will primarily focus on the sales and promotion of beverages and other food -related products.

Asamiya and Meiwa are expected to merge on March 1, 2017 and establish a new company named LIFEDRINK COMPANY Inc .(“LDC”) Sunrise II is a CLSA Capital Partners’ fund that invests in established, mid-cap companies with strong growth potential in Japan. Asamiya manufactures various food-related products with a key focus on beverages such as pet-bottled mineral water and tea. The company has nation-wide production facilities operating through its group’s subsidiaries and is renowned for its low-cost operations achieved through in-house integration of the value chain from procurement, manufacturing, logistics and distribution. To date, Asamiya has supplied safe and secure products to consumers at affordable prices mainly in West Japan.

On the other hand, Meiwa has been successful in identifying customer needs and has built a strong reputation as a reliable company for promoting and stably distributing safe and secure products sought -afterby customers, mainly in East Japan.Sunrise II believes that through the merger of the two companies, the newly established food/beverage-related promotion and distribution company, LDC, will be able to benefit from the strengths and synergies between Asamiya and Meiwa and will be capable of tapping an even wider client base through its affordable and sought-after products. In addition, Sunrise II believes that the merger will further optimise operations and contribute to building a stronger management platform, which will assist the company in further expanding the business. Sunrise II will continue to support further acceleration of growth in the newly established company, LDC.

About Sunrise Capital

Sunrise Capital is a Japan-dedicated private equity strategy, capitalising on opportunities in the mid-cap buyout sector. Sunrise Capital’s unique features include a hands-on approach and support with overseas expansion through CLSA’s global network. Sunrise Capital has completed investments in 10 companies to date and is assisting in realising their growth potential since its establishment in 2006.

About CLSA Capital Partners

CLSA Capital Partners is the alternative asset management arm of CLSA, Asia’s leading and longest-running brokerage and investment group. CLSA Capital Partners has more than US$3 billion under management and offices across the region, including Hong Kong, Singapore and Tokyo. CLSA Capital Partners offers a diversified and increasing range of investment strategies managed by a diverse team of industry professionals with expertise in private equity, banking and finance, law and accountancy and various industry specialisations.

For more information visit www.clsacapital.com

MEDIACONTACTS

Simone Wheeler

Global Head, Group Communications

CLSA

T: +852 2600 8196

E: simone.wheeler@clsa.com

Mandy Ho

Senior Communications Manager

CLSA

T: +852 2600 8193

E: mandy.ho@clsa.com

 

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Sale of SWP Holdings Inc. (the holding company of Socie World Co., Ltd.)

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Polaris

Polaris Capital Group Co., Ltd.

December 8, 2016

Sale of SWP Holdings Inc. (the holding company of Socie World Co., Ltd.)

Polaris Private Equity Fund III (“Polaris Fund III”), managed by Polaris Capital Group Co., Ltd. (“Polaris”), has agreed with Isetan Mitsukoshi Holdings Ltd. (“IMH”) on the sale of all of the shares of SWP Holdings Inc. (“SWP”) (with 100% of the voting rights) owned by Polaris Fund III and other shareholder to IMH and signed Share Purchase Agreement today. SWP owns 100% of Socie World Co., Ltd, (“Socie”). Socie operates aesthetic salons for middle to high-end female customers as well as hair salons, eye lash salons and sports clubs and enjoys strong brand recognition as a company with a longer than 50 year history. Benefiting from such brand name, Socie has opened its aesthetic salons in high-class department stores and luxury hotels and as a result secured a very solid business model with loyal and affluent customer base. On the overseas front, Socie was the first in the industry to open a shop outside of Japan and has succeeded in establishing a strong operation in Taiwan. By applying the success formula in Taiwan to other markets (including China where a franchise system hasrecently been implemented),

Socie is expected to achieve a further growth in the global market.

Polaris has decided to proceed with the sale since, as a member of IMH group, Socie is expected to enjoy various synergy effects such as brand enhancement, an access to IMH’s affluent customer base and shop opening at IMH’s department stores in prime locations in Japan and overseas, which would lead to a higher corporate value.

The share transfer is expected to be completed on January 12, 2017.

For inquires:

Susumu Sekihata

Partner

Polaris Capital Group Co., Ltd.

Phone: 813-5223-6727

 

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Ratos AB: Arcus prepares for IPO

ratos4-f_b240

Ratos and its subsidiary Arcus (formerly ArcusGruppen), one of the leading wine and spirits suppliers in the Nordic region, intend to list the company’s shares on the Oslo Stock Exchange. A listing of Arcus is expected to deliver a strong and diversified long-term ownership base that can support the company’s continued growth strategy and strengthen its market position.

In 2005, when Ratos acquired Arcus, the company was predominantly a Norwegian spirits producer, which has developed under Ratos’s majority ownership into the Nordic region’s leading supplier of wines and spirits. In Norway, Arcus is market leader in wines and spirits and in the other Nordic markets, it is one of the leading players. The company’s best-known proprietary spirits brands include Aalborg Akvavit, Gammel Dansk and Lysholm Linie Aquavit. For wines, Arcus has both proprietary brands, such as Ruby Zin, and agency operations in which the company represents such producers as Masi and Francois Lurton.

Value creating strategic initiatives that have been implemented since 2005 include a divestment of non-core operations, greater focus on growth through Nordic expansion, a wider offering, acquisition of new brands and increased production efficiency. A major investment in a new production facility has been completed in Gjelleråsen, Norway, where production has been consolidated. Arcus now stands on a new platform for growth and its vision is to offer the best Nordic aquavit to the world and to offer the best global wines to the Nordic markets.

Arcus has enjoyed positive sales growth over the past 11 years, with an annual growth rate of approximately 11% since 2005. When the company was acquired in 2005, sales amounted to approximately NOK 863m with an adjusted EBITDA of about NOK 31m, while in 2015 sales amounted to approximately NOK 2,471m with an adjusted EBITDA of about NOK 274m. This strong performance has continued during 2016 with sales amounting to approximately NOK 2,572m and adjusted EBITDA to about NOK 340m per rolling 12 months as of 30 September 2016. Arcus’s nine-month results are part of the Ratos portfolio’s results, adjusted for Ratos’s holding, which will be published in the interim report on 10 November 2016.

“Arcus was a rough diamond when we acquired the company in 2005. It has been an extremely interesting growth journey, filled with every value-creating dimension. Together with management, we have transformed the company from being a mainly Norwegian spirits producer into a Nordic market leader. Arcus has created a platform for both continued growth and development. That is why we believe Arcus is well suited to a listing and look forward to welcoming more investors as shareholders in the company,” says Mikael Norlander, Investment Director at Ratos.

“I am very proud of Arcus’s strong consumer brands, our partners and our employees. We have track record of profitable growth and we want to continue to grow in our core business. We look forward to welcoming new shareholders and employees to take part in our continued growth journey on the stock exchange,” says Kenneth Hamnes, CEO of Arcus.

Ratos’s holding in Arcus amounts to 83%. More detailed information regarding a schedule and terms and conditions will be announced in conjunction with a decision being made on the listing. ABG Sundal Collier ASA and Skandinaviska Enskilda Banken AB (Publ), have been appointed joint global coordinators and joint bookrunners for the listing, with Carnegie AS as joint bookrunner. Advokatfirmaet Wiersholm AS will serve as legal advisor to Arcus and Ratos.

For further information, please contact:

Mikael Norlander, Investment Director Ratos, +46 8 700 17 00

Elin Ljung, Head of Corporate Communications Ratos, +46 8 700 17 20

Kenneth Hamnes, CEO Arcus, +47 952 92 049

Financial calendar from Ratos:
Interim report January-September 2016 10 November 2016

Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 21 medium-sized Nordic companies and the largest segments in terms of sales are Construction, Industrials and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has a total of approximately 16,000 employees.

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Ratos acquires Plantasjen

Ratos

Ratos has signed an agreement to acquire 100% of the shares in Plantasjen, the Nordic region’s leading chain store for plants and gardening accessories from funds advised by Apax Partners, a leading global private equity advisory firm. The purchase price (equity value) for 100% of the company is approximately NOK 1.2 billion, corresponding to an enterprise value of approximately NOK 2.9 billion.

Plantasjen is the Nordic region’s leading chain for sales of plants and gardening accessories, with a total of 124 stores in Norway, Sweden and Finland, and a primary focus on the consumer segment. The market for plants and gardening accessories is supported by stable growth and underlying positive trends in the form of increased interest in cultivation, plants and interior design. Since its founding in 1986 in Norway, Plantasjen has developed its operations, strengthened its brand and established itself broadly in the Nordic region, and it now holds a leading position in the market. Plantasjen has about 1,200 employees and generated sales of approximately NOK 3.7 billion in the last twelve months leading up to June 2016, with operating profit (EBITDA) of approximately NOK 370m.

“Plantasjen’s leading market position, strong brand and product offering in a market with stable growth is highly attractive. We anticipate continued high potential for increased sales in both current garden centres and the new investments in smaller, more centrally located stores. The company is currently working to sharpen its focus on its range of plant products, in order to meet the increased interest in plants and cultivation, which we consider to be a successful strategy for continued growth in value. Our experience in driving growth in consumer companies, combined with the company’s strong management and ambitious business plan, makes this a particularly interesting investment for Ratos,” explains Lars Johansson, Acting CEO at Ratos.

“The plant industry has considerable potential. Plantasjen’s operations are based on a positive core product that customers and employees cherish and have a genuine interest in. Plantasjen has a strong brand and a broad establishment in the Nordic region, and operates within an attractive market segment where we see considerable development potential to further build on these strengths. Combined with Ratos’s experience, competence and capital, the capacity represented by the leading brand of plants in all channels offers great potential to further strengthen our market position in the Nordic region,” says Jon Abrahamsson Ring, President and CEO of Plantasjen.

Ratos is acquiring 100% of the shares of Plantasjen. The purchase price (equity value) for 100% amounts to approximately NOK 1.2 billion. Based on estimated net debt on completion, the enterprise value for the transaction equals approximately NOK 2.9 billion. The acquisition is subject to approval by the relevant authorities and is expected to be completed in the fourth quarter.

 

For further information, please contact:

Elin Ljung, Head of Corporate Communications at Ratos, +46 8 700 17 20

Lars Johansson, Acting CEO of Ratos, +46 8 700 17 00

Johan Ramsten, Media Relations at Plantasjen, +46 70 971 12 85

Ratos is an investment company that owns and develops unlisted medium-sized Nordic companies. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 21 medium-sized Nordic companies and the largest segments in terms of sales are Construction, Industrials and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has a total of approximately 16,100 employees.

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Varma, CapMan Nordic Real Estate Fund and Cavendo partnership acquires Heron City in Stockholm

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Capman

CapMan press release 1 September 2016 at 8.30 a.m. EEST

Varma, CapMan Nordic Real Estate Fund and Cavendo partnership acquires Heron City in Stockholm

Varma, CapMan Nordic Real Estate Fund and Cavendo have purchased Heron City, the 49,400 sqm landmark retail centre located in Kungens Kurva, Stockholm from NIAM for SEK 930 (EUR 98) million.

“We are delighted to have completed this acquisition with both our long standing partner and investor Varma and our new partner Cavendo, who will take responsibility for asset management at the centre. With all of the opportunities it presents, Heron City is a great fit with our value-add strategy,” comments Ed Williams, Senior Partner at CapMan Real Estate.

Kungens Kurva is 15 minutes South of Stockholm’s city centre and is the busiest retail area in the Nordics with approximately 20 million visitors a year. The area is anchored by the largest IKEA store in the world and the catchment area includes 1.5 million people within a 30-minute drive.

Heron City’s main tenants include Sweden’s largest cinema operated by SF Bio, home electronics retailer Media Markt, interior design and furniture retailer Mio, Willys supermarket and sports & outdoor retailer XXL. With a distinct retail and leisure offering, Heron City complements the other retail centres in the area and has benefited from increasing visitor numbers and turnover as Kungens Kurva has expanded in recent years. Visitors to Heron City in 2015 amounted to 7.2 million. The property will benefit from significantly improved accessibility and catchment area over the coming years with the completion of the the Stockholm bypass infrastructure project.

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