Munich/London 24 July 2018 – AURELIUS Alpha Limited, a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) (“AURELIUS” or “the Group”), the listed pan-European mid-market investor, today announces its acquisition of Ideal Shopping Direct (“ISD” or “the company”), one of the UK’s leading multi-channel home shopping retailers, from Blackstone. Financial terms of the deal were not disclosed.

With over 600,000 customers and FY17 revenues of £145 mn, Ideal Shopping Direct sources, designs and sells lifestyle and crafting products to consumers via a variety of dedicated interaction channels including TV shopping channels, social media platforms, websites and live events. The company has two flagship channels, Ideal World and Create & Craft which deliver video content across both the UK and the US. ISD employs c.800 people and is headquartered in Peterborough where it has dedicated facilities for the production and transmission of its shows as well as the creation and distribution of products to customers.

Following the acquisition, AURELIUS will work alongside the company’s existing management team to implement a transformation programme focused on driving operational improvement at the business, boost its UK brand recognition and enhance the breadth and quality of its customer offering.

Tristan Nagler, UK Managing Director of AURELIUS, commented: “Ideal Shopping Direct is a dynamic company with a loyal customer base, established infrastructure and strong position in two distinct and growing markets within TV shopping; craft and general merchandise, presenting a compelling investment opportunity for Aurelius. We look forward to working alongside ISD’s experienced management team to provide the operational and financial support needed to help the business meet its potential.”

Bill Adams, CEO of ISD, said: “We are very pleased to be partnering with AURELIUS, an investor with proven experience in the craft, TV shopping and omni-channel retail space. Its operational expertise and hands-on approach will significantly benefit ISD as we seek to reposition our business and achieve our growth objectives going forward.”

Bygghemma Group First AB (“Bygghemma” or the “Company”) – a portfolio company of FSN Capital IV, FSN Capital V and FSN Capital Project Growth – was listed on March 27th, 2018 on Nasdaq Stockholm. The initial public offering (the “IPO”) attracted very strong interest both from Swedish and international institutional investors as well as from the general public in Sweden. The offering was heavily oversubscribed.

Bygghemma Group First AB (“Bygghemma” or the “Company”) – a portfolio company of FSN Capital IV, FSN Capital V and FSN Capital Project Growth  – was listed on March 27th, 2018 on Nasdaq Stockholm. The initial public offering (the “IPO”) attracted very strong interest both from Swedish and international institutional investors as well as from the general public in Sweden. The offering was heavily oversubscribed.

The offering price in Bygghemma’s IPO was set at SEK 47.50 per share, which was in the middle of the communicated IPO range of SEK 45 – 50 per share. Assuming full exercise of the over-allotment option, the IPO will comprise 33.9m shares, corresponding to a total value of the IPO of approximately SEK 1.6 billion and 32 percent of the total number of shares outstanding. The FSN Capital Shareholders will hold approximately 50 percent of the shares after the IPO, assuming the over-allotment option is exercised in full. The market capitalization of Bygghemma at IPO was SEK 5.1 billion.

The cornerstone investors, Arbejdsmarkedets Tillægspension (ATP) and Creades, acquired 5,263,157 shares in the Offering, corresponding to SEK 250 million.

Mikael Olander, President and CEO of Bygghemma Group comments: ”We are very happy about the large interest that has been shown during the listing process for Bygghemma Group and our strong position as the superior online provider of home improvement products in the Nordic region. We are looking forward to continue to grow and develop the company, now in a listed environment.”

Henrik Theilbjørn, Chairman of the Board of Bygghemma Group says: “Bygghemma Group has established a leading Nordic platform and has great potential for both substantial organic and acquisition-driven growth and improved results in the coming years. The company targets a large and attractive market under digital transformation where it has a clear online market leadership. We are looking forward to continue to create value in a listed environment and welcome all new shareholders to follow us into the exciting future of Bygghemma Group.”

Peter Möller, Partner, FSN Capital Partners (investment advisor to the FSN Capital Shareholders): “Bygghemma Group operates on a fast-growing market where it has established a strong position as the leading online provider of home improvement products in the Nordic region. Over the last years the company has implemented several important strategic initiatives, made add-on acquisitions and improved its market position. We look forward to continue supporting the company and participate in the development of Bygghemma Group, now in a listed environment.”

About Bygghemma Group
Bygghemma Group is the leading online provider of home improvement in the Nordic region . The Company offers its customers a broad  product assortment at competitive prices with convenient home delivery. Sales are predominantly made online and most orders are delivered directly from the supplier to the end customer.

During 2015-2017, net sales grew by a CAGR of 44 percent, with an improvement in adjusted EBITA margin from 2.5% in 2015 to 5.0% in 2017. In 2017, Bygghemma Group reported net sales of SEK 4.0 billion and adjusted EBITA of SEK 197.0 million, corresponding to an adjusted EBITA margin of 5.0%. Pro forma net sales for 2017 (which includes acquisitions completed during 2017) amounted to SEK 4.4 billion.

Since inception in 2006, Bygghemma Group has expanded its product offering, made significant operational investments and broadened its geographical presence in Sweden, Finland, Norway and Denmark. As of 1 January 2018, the Company’s webstores are supported by 72 showrooms, customer.

listérus & partners Capital Advisors acquired the Dutch retail chain Kijkshop B.V. during the first quarter of 2015. During 2016, the asset was internally transferred to LPCA Fund I.

Kijkshop is operating in a rapidly changing market and is undergoing a turnaround and digital transformation process. The work with the change has required significant efforts from the owner’s side – both on an operational level and financially – and will still require a dedicated engagement during the foreseeable future.

In order to enable for new investments in the fund and release management capacity for the development of the future portfolio, 100% of the shares held in Kijkshop and its sister companies Kijk IP BV, Kijk UP BV and TONE BV were divested to the Swedish investment company SparkistanStClemens AB during September 2017.

The Board of the fund made the assessment that SparkistanStClemens has all the required resources at its disposal to successfully manage and further develop the investment in Kijkshop.

In conjunction with the divestiture, Björn Serving resigned from his engagement for listérus & partners Capital Advisors and as an investment manager at LPCA Fund I. He is now engaged by SparkistanStClemens in their subsidiaries.

For any enquiries, please contact Christian Listérus, christian@listerus-capital.com, Tel: +46-8-5090 6660.