Category Archives: News

Bisnode acquires Global Group

Ratos

Ratos’s subsidiary Bisnode is acquiring Global Group Dialog Solutions AG, a German leading marketing solutions provider. The acquisition is a key element of Bisnode’s strategy to become the most wanted partner for data and analytics in Europe. In conjunction with the transaction, Ratos is contributing approximately SEK 54m for its holding.

Bisnode is strengthening its market position through the acquisition of Global Group. The company has approximately 60 employees and its head office in Idstein, Germany. Annual sales are approximately EUR 10.5m. Through its strong customer relationships, its marketing service portfolio offering and its proprietary consumer database, Global Group is one of the leading marketing providers for the German-speaking world.

“With its proprietary consumer database and sophisticated marketing solutions capabilities, Global Group represents a key building block in continuing to deliver on Bisnode’s strategy to become the most wanted partner for data and analytics in Europe. Global Group will enable us to offer further services to our German-speaking markets, but its offering also contributes to Bisnode’s product development initiatives for the next generation of marketing solutions,” says Magnus Silfverberg, CEO of Bisnode.

The acquisition is expected to be completed at the end of April 2017.

Ratos became a principal owner of Bisnode in 2005. Today, Bisnode is one of the leading European providers of decision support, focusing on helping companies and organisations to make smart decisions.
– See more at: http://ratos.se/en/Press/Press-releases/2017/Ratos-AB-Bisnode-acquires-Global-Group/#sthash.BtHiNEgD.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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Kinnevik invests USD 12.5 million in Livongo

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Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it has invested USD 12.5m as part of a USD 52.5m funding round in Livongo Health Inc. (“Livongo”), a California based consumer digital healthcare company helping people with diabetes to live healthier lives. Kinnevik will own 3.5% of Livongo after the funding round.

The financing was co-led by Kinnevik and existing investor General Catalyst.

Livongo is a digital chronic care management platform that provides diabetes patients with a personalized, end-to-end service, from measurement of blood glucose levels to real-time, contextual feedback and access to live coaching by certified diabetes educators. Diabetes is one of the largest chronic diseases in the world affecting more than 400 million people. Livongo is helping more than 25,000 patients manage their diabetes and counts almost 15% of Fortune 100 companies amongst its fast growing client base.

Joakim Andersson, Interim CEO of Kinnevik, commented: “Livongo is our second investment in healthcare, a sector where we see the opportunity for technology-enabled platforms to deliver better outcomes at more affordable prices. Diabetes is a large, growing and life-long condition that requires a comprehensive approach to address patient needs. We have been impressed by Livongo’s platform and their impact on the US diabetes market to date, and are delighted to partner with the team to build a global leader in chronic care management over the long-term.”

For further information, visit www.kinnevik.com

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Metronet (UK) targets superfast London growth with acquisition of Venus Business Communications

Metronet

Metronet (UK), the UK’s fastest growing connectivity and internet infrastructure provider, backed by mid-market private equity firm Livingbridge, today announces its acquisition of Venus Business Communications, a leading high growth fibre network provider.

The acquisition of Venus follows Metronet (UK)’s £47.5m purchase of leading internet infrastructure and hosting company M247 in October 2016. Venus will provide the Group with access to the strategically important London market as it seeks to build a national disruptive platform with ‘last mile’ control, faster connectivity and communications to end users and a powerful transit network across Europe.

Venus will add six new strategically important datacentres to the Group’s network so that, following the acquisition, Metronet (UK)’s network is now connected to all key strategic UK data centre locations as well as 14 of the world’s largest and most important Internet Exchanges.

Founded in 2005 by telecoms entrepreneurs Brian Iddon and Justin Keery, Venus covers all of central London and the City, providing superfast, high speed fibre at up to 10 gigabit/sec, almost 100 times quicker than the leading alternative broadband connection. Venus is delivering revenues of £7.8m and supplies companies across a range of sectors including design, media, broadcast and financial services who place a particularly high value on low latency communications.

Metronet (UK) operates the most advanced hybrid ISP network in the UK and, by combining its unique offering of wireless and wired technology, is able to offer scalable connectivity solutions that are typically implemented five times quicker than traditional fibre and copper based services. As an organisation, it prides itself on connecting businesses through innovative, integrated technology for enhanced productivity. It does this through a number of complementary products and services, including; connectivity, hosting, voice and security; enabling businesses to access the tools they need to succeed on a 24/seven basis.

The combined Group will now employ around 230 people across six sites including Manchester, Newcastle, London and Bucharest. It will support almost 34,000 customers across 92 countries, from SMEs to Enterprise clients including Intu, On The Beach, Sofology and ao.com, and deliver revenues of nearly £50m.

Livingbridge first invested in Metronet (UK) in June 2014 as part of a £45m secondary buyout of the firm. Follow on funding to support the Group’s acquisition strategy and the investment in Venus has been made by the Livingbridge 5 fund.

Matthew Caffrey, Partner at Livingbridge, said:
“The acquisition of Venus neatly complements Metronet’s existing capabilities and will enable the business to build a world class wireless network in London on top of Venus’ core transit and last mile fibre capability. Metronet’s national services now include connectivity applications across the wireless and fibre spectrums as well as voice, security and hosting and we are very excited about the Group’s continued growth prospects.”

Lee Perkins, Chief Executive at Metronet (UK), said:
“Venus is a fantastic business which has established itself as a leading player in the London market thanks to its market leading levels of speed and reliability. Just as importantly, Venus has the same entrepreneurial and customer-centric culture as us so I have no doubt that it will be an excellent fit with our business.”

Brian Iddon, Director and Founder at Venus, said:
“I am immensely proud of the business we have built over the past 12 years and am excited about what we will be able to achieve as part of the Group’s wider offer. I have known Lee and the team for a number of years and feel that Metronet are the perfect fit for us as we look to build on the strong momentum we have generated to date.”

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Onlineprinters to Acquire Leading UK Online Printer Solopress

Bregal unternehmerkapital

Investment in strongly growing UK market

Essex / Neustadt a. d. Aisch – Onlineprinters, one of Europe’s largest B2B online printing companies, is about to acquire Solopress, a leading player in the UK online printing market. Solopress was founded in 2004 and has grown significantly in recent years reaching 225 employees in 2016. With “print delivered tomorrow” Solopress is uniquely positioned to fulfil customer demand for speed and quality. Solopress’ founders Aron Priest and Andy Smith will continue to lead Solopress as Managing Directors and become shareholders of Onlineprinters Group. Last year Bregal Unternehmerkapital became the new majority shareholder of Onlineprinters partnering with Project A and founder Walter Meyer to lead the company to its next phase of growth.

The parties involved in the acquisition have agreed not to disclose details of the transaction.

Onlineprinters was one of the First Movers in online printing, and in 2016 produced over 2.1 billion printed items. Having expanded its clientele by 100,000 new customers in 2016, the company welcomed its 600,000th customer in January 2017 and currently has more than 650 employees. Onlineprinters CEO Dr. Michael Fries commented about the deal, “We are glad that Solopress with its premier position in the UK market will become part of the Onlineprinters Group. The experience of the founders Aron Priest and Andy Smith will be instrumental in developing our UK business and helping to further develop Onlineprinters as a European leader in online printing.”

“With Onlineprinters we have found a partner who is one of the pre-eminent international players within the European online printing sector. The Onlineprinters Group provides the right framework to continue the successful development of Solopress,” says Solopress’ Co-Founder Aron Priest.

Growth strategy

The UK is one of the major European printing markets which has recently begun to accelerate in the transition to online print. “With Solopress we have a partner with a well established brand in the UK, a broad customer base, knowledge of the market and an efficient production facility, with high quality standards. The acquisition of Solopress strengthens the market position of Onlineprinters as one of Europe’s Top-5 online print providers,” explains Dr. Michael Fries.

Award winning quality and service

Solopress has grown year-on-year and won seven prestigious awards, including ‘Business of the Year’ and ‘Business to Business of the Year’. Onlineprinters was awarded for excellent customer service several times in the past few years and has earned many commendations by renowned media outlets.

About Onlineprinters

Onlineprinters GmbH is one of Europe’s top online print providers. In line with the motto “Print simply online!“ the company sells printed products to 600,000 customers in 30 European countries through its 16 web shops. Internationally, the company is known under the brand name “Onlineprinters“; in Germany it operates under the name “diedruckerei.de“. The product range comprises of 1,400 printed products from business cards, stationery and flyers to catalogues, brochures and large-format advertising systems. The formula to successfully produce customised prints in terms of Industry 4.0 rests on three pillars: online sales, fully integrated production from ordering to shipping and gang run printing. The latter uses so-called combined forms to collectively produce print jobs, therefore minimising costs and reducing the environmental impact. Selected products allow customers to choose the option of same day printing (produced on the same working day), overnight delivery, climate neutral production and custom size specification. Onlineprinters GmbH employs 650 staff and produces over two billion printed items per year.

About Solopress

Solopress is one of the UKs largest independent online printers, offering a wide range of business related printed products, including business cards, leaflets, brochures, posters and banners. With the maxim “Print Delivered Tomorrow” the company ships over 85% of its print jobs within 24 hours of being ordered. Last year alone Solopress produced over 300,000 online orders, and hit the 1,000,000th order milestone in October 2016. Within Solopress’ two sites covering more than 63,000 sq ft. the company boasts an impressive plant list including; 7 Heidelberg Speedmasters, 5 Xerox iGens and 9 Polar guillotines. These machines combined with an internally developed workflow and superb customer service (rated Excellent on Trustpilot with over 8,500 reviews) have seen Solopress achieve double digit growth for twelve consecutive years.

About Bregal Unternehmerkapital

Bregal Unternehmerkapital is part of a family-owned business that has been built up over generations. Its investment activity is based on long-term commitment and independent of developments in the financial markets. Bregal Unternehmerkapital 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 it to acquire both minority and majority stakes. In doing so, Bregal Unternehmerkapital is also able to handle complex industry spin-offs, management buy-outs and succession situations in a sensitive, non-dogmatic manner. Bregal Unternehmerkapital 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.

About Project A

Project A is an operational VC that provides its ventures with capital, an extensive network and exclusive access to a wide range of operational expertise. The Berlin-based investor makes use of the €260m in assets under its management to back early-stage companies in the digital technology space. With its unique organizational structure featuring 100 operational experts, Project A offers its portfolio companies hands-on support in the areas of IT, Marketing & Brand Building, Business Intelligence, Sales and Recruiting. The portfolio includes companies such as Catawiki, WorldRemit, Tictail, Contorion, nu3, Lostmy.name and ZenMate. More about Project A on www.project-a.com  and on our blog insights.project-a.com.

Press contact Onlineprinters

Onlineprinters GmbH
Patrick Piecha
Head of Press & Public Relations
Phone:    +49 9161 6209807
+49 174 3077250
press@onlineprinters.com
www.onlineprinters.co.uk

Press contact Solopress

Solopress
Julia Murray
Digital Marketing Manager
Phone:    +44 1702 460047
+44 7702 202580
press@solopress.com
www.solopress.com

Press contact Bregal Unternehmerkapital

IRA WÜLFING KOMMUNIKATION GmbH
Dr Reinhard Saller / Florian Bergmann
Phone:      +49 89 2000 30-30
bregal@wuelfing-kommunikation.de

Press contact Project A

Project A
Konstanze Pflüger
Corporate Communications
Phone:      +49 30 340 606 321
konstanze.pflueger@project-a.com
www.project-a.com

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OpenSolution acquires Lindberg & Frisk AB

ik-investment-partners

OpenSolution acquires Lindberg & Frisk AB

OpenSolution, a leading Nordic payment solution provider, today announced the acquisition of Lindberg & Frisk AB.

OpenSolution covers the entire value chain of payment solutions, making it a single point of contact for >8,000 customers throughout Scandinavia. The company was acquired by the IK Small Cap I Fund in June 2016.

For more information (in Swedish), please see http://www.opensolution.se/opensolution-forvarvar-lindberg-frisk-ab/

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Helloprint, Europe’s fast growing online print platform, partners with Bregal Unternehmerkapital and Project A

Bregal unternehmerkapital

The partnership entails a minority investment to support Helloprint’s growth ambitions

 

Rotterdam / Munich / Berlin – Helloprint, one of Europe’s fastest growing online print platforms, has stepped into a long term partnership with Bregal Unternehmerkapital, a multi-generational family business specialized in holdings of mid-sized companies, and Project A, a Berlin-based operational venture capitalist. The partnership entails a “multi-million” euro minority investment via their printing holding Onlineprinters.

The Rotterdam-based platform’s last funding round was a multi-million euro Series A funding with informal investors, after a first round of founding capital. This new investment provides Helloprint with significant funding and access to multiple strategic advantages to support its rapid growth ambitions.

“We’ve had a long and intensive process of selecting the right future partner for our fast growing European platform business”, said Hans Scheffer, CEO and Founder of Helloprint. “The family- owned structure, long term vision and hands-on mentality of Bregal and the operational power in data, BI, CRM and online acquisition marketing of Project A have convinced us to go for a joint future. This unique combination allows us to grow our independent platform faster into various markets.”

Helloprint is using the funding for the operational support of its growth, the development of its systems and data structure, the extension of the team and the acquisition of new European customers. “We see that the online print market is evolving rapidly”, Scheffer says. “Our asset-light platform model allows us to scale the business faster and enter new countries and markets quickly without the need for investments into printing equipment. Our network of international print and promo producers is growing fast and it is our ambitions to scale the network and our business even faster over the next years. The whole team is looking forward to accelerate our growth further with the new partnership”.

About Helloprint

Founded in 2013, Helloprint’s platform business is expanding rapidly into the European market. Currently, over 150.000 customers in the Netherlands, Belgium, France, Italy, United Kingdom, Spain, Germany and Ireland are ordering their printed products via the platform. Via a network of hundreds of international print and promotional producing partners over 2.000 unique printed products are available for its customers, anywhere and when they need it. The company operates from Rotterdam, The Netherlands, where it has its European HQ, and from Valencia, Spain, where the international Customer Experience Center is located.

 

About Bregal Unternehmerkapital

Bregal Unternehmerkapital 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 Unternehmerkapital 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 it to acquire both minority and majority stakes. In doing so, Bregal Unternehmerkapital is also able to handle complex industry spin-offs, management buy-outs and succession situations in a sensitive, non-dogmatic manner. Bregal Unternehmerkapital aims to help companies 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.

www.bregal.de

 

About Project A

Project A is an operational VC that provides its ventures with capital, an extensive network and exclusive access to a wide range of operational expertise. The Berlin-based investor makes use of the €260m in assets under its management to back early-stage companies in the digital technology space. With its unique organizational structure featuring 100 operational experts, Project A offers its portfolio companies hands-on support in the areas of IT, Marketing & Brand Building, Business Intelligence, Sales and Recruiting. The portfolio includes companies such as Catawiki, WorldRemit, Tictail, Contorion, nu3, Lostmy.name and ZenMate. More about Project A on www.project-a.com and on our blog insights.project-a.com.

 

Media contact at Helloprint

Proudly Represents
Remco Janssen
Tel. +31 6 14 7877 13
E-mail remco@proudlyrepresents.com

Media contact at Bregal Unternehmerkapital

IRA WÜLFING KOMMUNIKATION GmbH
Dr. Reinhard Saller / Florian Bergmann
Tel. +49 89 2000 30-30
E-mail bregal@wuelfing-kommunikation.de

Media contact at Project A

Konstanze Pflüger
Corporate Communications
Tel. +49 30 340 606 321
E-mail konstanze.pflueger@project-a.com

Categories: News

CLSA Capital Partn ers’ ARIA IV invests in Azoya , a leading cross -border e-commerce solutions provider and retail operator in China.

Hong Kong, Monday, 6 March 2017

ARIA Investment Partners IV, LP and ARIA Investment Partners IV (Non-US), LP (together, “ARIA IV’) are pleased to announce an investment in Haituncun (Shenzhen) Info-Tech Co., Ltd(“Azoya”). ARIA IV is the lead investor in Azoya’s third round of capital raising which includes further commitments from existing investors.

ARIA IV is the fourth generation pan-Asia private equity fund managed and advised by CLSA Capital Partners (“CLSACP”). For more than two decades, ARIA funds have tracked the dynamic consumption patterns shaped by demographic and socioeconomic trends across Asia.

Azoya is a leading , Chinese, cross-border e-commerce solutions provider and licensed retail operator. The company assists international online e-commerce platforms and prominent bricks-and-mortar retail chains and brands to access China’s online retail market, one of the largest e-commerce markets in the world.

Managing Director of the ARIA Funds, Miranda Tang, commented:

“Riding on the increase in disposable income, consumption upgrade s, and substantial developments in global logistics, cross-border trade has been growing rapidly among Chinese e-shoppers. While it is a competitive sector, Azoya has demonstrated its in-depth local market knowledge and a thorough understanding of overseas retailers.

The Azoya management team is extremely adept at connecting international retail companies to e-shoppers in China.”

“This is the second investment by ARIA IV in the e-commerce enabling sector following the first investment made in India over a year ago. We have been searching actively for companies with a sustainable model to leverage the exponential growth of Asia’s e-commerce sector. It gives us great pleasure to invest in Azoya which now extends our footprint in this sector into the world’s two most populated countries, China and India.”

The co-founders of Azoya, Alex Huang and Don Zhao said: “ARIA Funds are amongst the most respected and experienced private equity investors in Asia. They have a 20-year proven track record of backing innovative companies with solid growth potential in Asia . ARIA IV’s investment in Azoya is recognition of our strong business Model and high growth performance over the past three years.”

“We are very confident of the synergies this investment partnership brings. By leveraging CL SA’s resources in the fast-consumer and retail industries, as well as Azoya’s global retailers’ network across 11 countries, Azoya will expedite its growth and reinforce its leading position in the cross-border e-Commerce space.”

CLSA Capital Partners (HK) Limited

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Data Respons Acquires remaining 50% of TechPeople A/S

TechPeople A/S, a Danish consultancy specialist within application development, architecture and system designs as well as embedded solutions and IoT, is expected to become a fully owned subsidiary of Data Respons within 2 weeks.

“Data Respons is continuing its growth through M&A by acquiring TechPeople A/S, a Danish company we have followed closely through 50% ownership over the last 5 years. Their development and performance were contributing factors to reach full ownership. In addition to financial synergies, joint forces going forward increases our ability to take advantage of the digitalization megatrend”, says Narve Reiten, Deal Partner at Reiten & Co.

Reiten started investing in 1996 with capital from local institutional investors and family offices. Over the years Reiten have managed seven funds, of which currently three are active.

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3i and LDC sell stakes in MKM Building Supplies to Bain Capital

3I

MKM Building Supplies (“MKM”), 3i Group plc (“3i”), LDC and Bain Capital Private Equity (“Bain Capital”) are pleased to announce they have signed a binding agreement for the sale of 3i and LDC’s stakes in MKM, the UK’s largest independent builders’ merchant, to Bain Capital. Management will retain a significant shareholding in the business.

3i’s 2006 investment, which was partially syndicated to LDC, has supported founder David Kilburn with the firm’s ambitious growth plans. Since 2006, revenues and profits have more than trebled. During this time, the business has also developed from a regional to a national player, expanding to 47 branches across the country. The business has consistently grown like-for-like sales well above listed peers through superior service and category expansion, generating revenues in excess of £284 million in 2016 and employing over 1,100 people.

David Kilburn, Founder and Executive Chairman of MKM, said: “MKM has enjoyed exceptional growth over the past twenty-one years and I would like to thank 3i and LDC for their long-term backing and support. We are looking forward to working with Bain Capital for the next stage in MKM’s development. The UK builders’ merchant market is anticipated to grow to £13 billion by 2020 and we expect to expand our UK branch network significantly.”

Matthias Boyer Chammard, Principal, Bain Capital Private Equity, said: “We were attracted to MKM’s best-in-class customer service, underpinned by its unique business model, which has enabled the firm to significantly outperform the market. Bain Capital has a strong track record of applying its expertise in the building materials and construction sectors to successfully grow companies, including Ibstock in the UK. We are delighted to have the opportunity to partner with the MKM management team to further expand the business throughout the UK.”

Jonathan Crane, Director, 3i Private Equity, said: “David’s leadership and MKM’s unique business model have driven impressive financial performance and a long-term track record of growth. We are proud to have supported David and the company during this period of transformation and wish them all the best with their exciting future expansion plans.”

Proceeds to 3i from today’s transaction will be c.£70m, and including £11m received by 3i since 2006, represent a 5.9x money multiple. Proceeds represent a 17% uplift over book value at 31 December 2016 and 31% as at 31 March 2016.

The transaction is subject to customary regulatory approvals. Subject to these approvals, the transaction is expected to complete by May 2017.

Rothschild acted as lead adviser to the selling shareholders alongside Addleshaw Goddard, as legal adviser, and PwC and OC&C who provided vendor due diligence assistance. Moelis & Company and PwC advised Bain Capital, with Ropes & Gray as legal adviser.

-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

LDC
Sophie Millward
Citypress
Tel: +44 7890 616 295
Email: sophie.millward@citypress.co.uk

MKM Building Supplies
Ian Middleton
Celicourt
Tel: +44 7885 508 527
Email: imiddleton@celicourt.uk

Bain Capital Private Equity
Edward Gascoigne-Pees
Camarco
Tel: +44 20 3757 4984
Email: ed.gascoigne-pees@camarco.co.uk

Notes to editors:

About MKM Building Supplies

MKM is the largest independent builders’ merchant in the UK and provides a one-stop-shop for branded building materials, timber, plumbing and heating, and a broad range of complementary categories including kitchens and bathrooms. Established in Hull in 1995 by David Kilburn and Peter Murray, MKM was built on the concept that skilled, local people who understand the needs of local customers, should serve the local trade. MKM is differentiated through its unique business model, centred around Branch Directors owning an equity stake in their branch and currently has 47 branches across England and Scotland, employing in excess of 1,100 people.

For further information, please visit: www.mkmbs.co.uk

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

About LDC

LDC is part of the Lloyds Banking Group and backs ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions. From a UK network of 9 regional offices, LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.

For further information, please visit: www.ldc.co.uk

About Bain Capital Private Equity

Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our global team of approximately 220 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

Regulatory information

This transaction involved a recommendation of 3i Investments plc.

Categories: News