CVC Credit, the €40 billion global credit management business of CVC, is pleased to announce that it has agreed to provide the debt facilities to support Fremman Capital’s acquisition of Innovative Beauty Group (“IBG”), a beauty and personal care service provider, currently part of the Albéa group. CVC Credit will act as sole lender in this transaction.
IBG offers its clients a 360-degree product development service, with end-to-end product management capabilities addressing the more complex aspects of bringing a product to market, including the ideation of the product, formulation, filling, packaging solutions and marketing. The business leverages its extensive global network, with 10 offices across three different continents, to provide local expertise to its +200 customers. With creative and sourcing capabilities across North America, Europe, and Asia, IBG’s 300 employees offer unrivalled expertise across the entire Beauty and Personal Care value chain, acting as a true value-added partner to its customers.
Christine Weis, Managing Director at CVC Credit, said: “IBG is well-positioned in a dynamic and expanding market, with multiple opportunities to enhance its presence and capabilities across regions, products and customer groups.” Eva Boutillier, Managing Director at CVC Credit added: “We are excited to support IBG’s ambitions, as they begin the next stage of their growth story in partnership with Fremman Capital.”
Olivier de Vregille, Founding Partner of Fremman Capital, said: “We look forward to working with IBG CEO, Xavier Leclerc de Hauteclocque and his team, to accelerate the growth of the company. We have been following this industry for a long time and we strongly believe in the innovative IBG model which disrupts the traditional Beauty and Personal Care supply chain while driving excellence and best results for all stakeholders.”
John Empson, Managing Partner and Co-Head of Private Credit at CVC Credit, commented: “As part of the CVC Network we have the advantage of being able to tap in to the knowledge of CVC’s leading European private equity platform to assist in our diligence work and price discovery. In the case of IBG, CVC Credit’s ability to draw on the experience of CVC Germany and their sector knowledge gained through their investment in Douglas, Europe’s leading specialist cosmetics and beauty retailer, was crucial in winning this opportunity.”
The transaction is subject to customary regulatory approvals and consultation of the relevant employee representative bodies of the Albéa group and expected to complete in Q2 2024.
