One Grand Central Place
60 E. 42nd St, Ste 4100
New York, NY 10165
Tel: +1 (212) 848 1400
Fax: +1 (212) 848 1401
PO Box 7847
103 99 Stockholm
Engelbrektsplan 1 (T-House)
114 34 Stockholm
Tel: +46 (0)8 506 101 00
Fax: +46 (0)8 506 211 30
16 Palace Street
London SW1E 5JD
Tel: +44 (0)20 7975 3131
Fax: +44 (0)20 7975 3232
Cornelis Schuytstraat 72
1071 JL Amsterdam
Tel: 0031 / 20 3057444
Fax: 0031 / 20 3057455
60306 Frankfurt am Main
Tel. +49 69 710000 0
Fax +49 69 710000 113
3 rue Paul Cézanne
Tel: + 33 1 73 15 11 00
Calle Ruiz de Alarcón n 12 - 2º - B
Tel: +34 915 214 4 19
Fax: +34 915 219 8 19
We have enabled a number of our portfolio companies to access emerging markets, including China, both through setting up manufacturing facilities in the country, as well as selling into this fast-growing market. In addition, we used our local network to sell Hilite to AVIC, one of China’s largest industrial conglomerates.
In particular, we have helped Hyva establish manufacturing facilities in Yangzhou; Hilite open a production site in Changshu; NORMA consolidate its Chinese production in Qingdao; Mold-Masters triple the capacity of its Chinese facility to offer all its products across Asia; and GEKA open sales and sourcing offices in Shanghai and Hong Kong.
3i Asia Limited
6 Battery Road
Level 42, Unit 07
Element Materials Technology is a global network of laboratories specialising in materials testing, product qualification and failure analysis for the Aerospace & Defence, Oil & Gas, Power Generation,
and Transportation sectors. Their team of over 1,800 scientists, engineers and technicians are located throughout the US and Europe.
3i invested in Element in 2010 as part of a carve-out transaction from Stork. Shortly after, in 2011, the company was rebranded as Element Materials Technology and reorganised into sector-focused business lines to better serve its customers’ needs. Element is now the global market leader in the most attractive end markets for materials testing - Aerospace, Oil & Gas and Transport & Industrials - supplying blue chip customers such as Ford, Shell, Technip, Rolls-Royce, Boeing and Airbus.
3i turned Mold-Masters from a high quality family owned business into a professionalised global market leader in the hot runner industry during our 5 year investment. Our investment enabled the company to accelerate its organic growth in Asia and Eastern Europe as well as make several add-on acquisitions.
We leveraged our global Business Leaders Network to strengthen the management team with the introduction of a Chairman and bolstered the executive team with several key additions. During our investment, employee numbers grew from 900 (with 20% in Asia) to 1,700 (with 46% in Asia).
We invested in TouchTunes in 2011 to support the Company’s growth strategy and international expansion, as well as help bolster its product and service offering. During our investment period TouchTunes increased its network of digital jukeboxes by nearly 50% and developed several ancillary revenue streams. This impressive growth has been achieved through organic growth in North America and the important acquisition of Soundnet in 2014, which marked TouchTunes’ entry into the UK market.
We invested in July 2005 for a minority stake in Polyconcept. Our investment, in conjunction with a larger Investcorpled transaction, helped create the global market leader in the promotional products industry and allowed the business to develop market leadership across a broad geography including North America, Europe and Asia.
During our investment we worked with management and Investcorp to help drive the strategy to become an integrated global business capable of winning in a competitive market. Key value levers included; ensuring a best-in-class Asian sourcing function was formed, streamlining and integrating operations in both North America and Europe, and putting in place a strengthened management team and governance framework.
During our eight year investment, the Company grew revenue from c.$2.8bn to $4.5bn, expanded its global employee base from c.20k to c.35k, and increased EBITDA from c.$370m to c.$830m. Quintiles completed nine acquisitions, expanded commercial services into the Middle East, North Africa and East Africa, and developed numerous clinical development and joint venture partnerships.
3i assisted Quintiles’ continued growth by tapping into our extensive global healthcare network, which includes longstanding relationships with major pharmaceutical and biotech firms. We also introduced a member of our Business Leaders Network to serve as head of the EMEA Advisory Board, helped strengthen key positions within the management team, and supported several strategic acquisitions.
Xellia was created in April 2008 when we bought NYSE-listed Alpharma Inc.'s active pharmaceutical ingredients business with the objective of transforming Xellia from a supplier of niche APIs into a fully integrated speciality pharmaceutical company.
During our investment, Xellia invested more than $100 million in R&D and capacity expansion across its global manufacturing network. This investment created a platform for continued growth and enhanced margins, based on a broadened product range and an exciting pipeline of new products.
Having co-led the buyout of Gant, we worked closely with the management team to further develop the business and move Gant towards its goal of becoming one of the leading global brands within its segment. During our investment, the company entered 13 new markets and opened more than 80 new branded stores.
In addition, Gant successfully launched a women's wear line and significantly strengthened its licensing business. In March 2006, Gant successfully achieved a €249m flotation on the Stockholm Stock Exchange.
During our investment, Civica continued its strong track record of growth, driven by a combination of sustained software sales from their market-leading product portfolio and the roll-out of cloud-based solutions. In addition, international sales doubled over five years following a number of acquisitions.
3i supported Civica with the completion of 10 acquisitions in the UK, Australia and New Zealand, adding key product and geographical presence to Civica’s existing offering. In the same period, staff numbers increased from 1,350 to over 2,000, approximately 60% of which are in the UK.
During our investment, we supported the company’s international expansion from 14 countries to 28, including building a strong presence in the Asia Pacific region which generated 25% of revenues in 2013. Over five years, we assisted in executing over nine strategic acquisitions and new project developments.
We also played a key role in expanding Hyperion’s business through introducing new talent to the Board. Hyperion’s success was demonstrated by the company’s revenues almost tripling over 5 years and staff numbers increasing from 340 to over 1,400.
Mayborn is a manufacturer and distributor of baby feeding, hygiene and related products under the award winning Tommee Tippee® brand. The company operates from its UK head office in Cramlington as well as its international manufacturing facilities in the UK, China and Morocco.
3i acquired Mayborn in a €200m public-to-private transaction in 2006. Under our ownership we transformed the group from a predominantly UK business selling a broad range of consumer products to the fifth largest baby accessories business globally selling in more than 50 countries.
During our investment, we strengthened Hyva’s board and helped the business become a truly international player, increasing its global footprint from 16 to 32 countries across Europe, Asia and the Americas.
We supported the acquisition of Italian cranes business Amco Veba and assisted the development of a number of new product lines. In addition, we led Hyva’s entry into China, India and Brazil, which resulted in sales from emerging markets growing from 23% to 73% during our investment.
We initially acquired a minority stake in Refresco in 2010 to help support the Company’s continued growth and buy-and-build strategy.
The merger with Gerber Emig in 2013 was a notable highlight during our investment period. In addition, Refresco also acquired German-headquartered SDI, Spumador in Italy and Taja in Poland, taking its production facilities to 27 across nine countries with a total of 159 production lines. Refresco also demonstrated robust top line growth between 2010 and 2015, increasing revenue from €1.2bn to €2bn.
Refresco announced the completion of its IPO on Euronext Amsterdam in March 2015.
In December 2010, 3i and funds invested €99m for a majority stake in Amor. Headquartered in Obertshausen, near Frankfurt/Main, Amor was founded in 1978.
In addition to its own ’Amor’ jewellery brand, the company also markets its jewellery under private labels and partners with leading retailers.
GEKA is a leading manufacturer of innovative brush applicator and packaging systems for the beauty and health industries. The company is a pioneer in the innovation of plastic injection moulding for mascara brushes and mascara packaging, and is a development partner with market leading international cosmetics groups.
3i invested in GEKA in April 2012, during our ownership GEKA has grown internationally into Asia and Latin America, opening a production facility in São Paolo, as well as sales and sourcing offices in Shanghai and Hong Kong. The company has successfully expanded its production capabilities in the US. In addition, GEKA has strengthened its sales teams in Paris and the US East and West Coast. With the acquisition of OEKA, a German manufacturer of plastics and metal components, in 2015, GEKA has strengthened its foothold in the attractive prestige market segment.
We invested in Hilite in an all-equity transaction to help the company further its prospects in the fast-growing powertrain segment of the automotive industry. Between 2010 and 2013, Hilite grew at a double digit rate and expanded into China, which contributed more than 15% of total sales in 2014.
Hilite transformed significantly during our ownership; the company refocused its strategy on its core business of highly-engineered products; invested over €100 million in R&D and capital expenditure; and leveraged our global network to accelerate its expansion into China.
We supported NORMA’s growth from a German regional player to an undisputed international leader in its market.
Over five years, the company increased its capabilities in product development and strengthened its presence in developing markets with new plants in India, China, Thailand, Mexico, Russia and Serbia.
During our investment, NORMA more doubled its revenues, doubled its EBITDA margin and increased sales outside Germany from 41% to 74%. In addition, the company grew its employees from 1,600 in 2006 to 3,500 in 2011.
We invested in Trescal because we saw a growing market for calibration and maintenance services in industries where quality and safety are critical, as well as identified the company’s ability to lead the consolidation of the sector and accelerate outsourcing.
During our investment, Trescal grew twice as fast as the market, increasing sales by over 40%, and more than doubling profits, in 3 years. Through acquisitions in Austria, the Netherlands, the UK and the US, Trescal transformed into a global company and grew its staff from 300 to 1,500.
During our five year investment, we supported Panreac in consolidating its leadership position in the Spanish market as well as its international expansion into Italy, France, Greece and Eastern Europe.
Following the buyout in 2005, we advised on the company’s 2007 acquisition of NoveChimica, a leading Italian competitor. Through our Business Leaders Network we introduced Ramon Lafuente as Chairman. We sold Panreac in September 2010, generating a 2.2x return on our investment.
During our eight year investment, the Company transitioned from a family run business to a professionally managed company through strategic management hires including Chairman Thaddeus Beczak, who was introduced through our Business Leaders Network.
John Hardy consolidated its position in the fast growing US designer jewellery market by continuing to grow its sales in the US, as well as the Caribbean where it also has a large presence. The company also rolled out mono brand stores in Asia and continued to expand internationally.
View a selection of our core portfolio companies
To partner and grow the businesses in our portfolio, we have an international team of investment professionals.
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