Exit case studies

North America

One Grand Central Place
60 E. 42nd St, Ste 4100
New York, NY 10165
USA

Tel: +1 (212) 848 1400
Fax: +1 (212) 848 1401

Our portfolio companies

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Sweden

PO Box 7847
103 99 Stockholm
SWEDEN

Visiting address:
Engelbrektsplan 1 (T-House)
114 34 Stockholm
SWEDEN

Tel: +46 (0)8 506 101 00
Fax: +46 (0)8 506 211 30

Our portfolio companies

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UK

16 Palace Street
London SW1E 5JD

Tel: +44 (0)20 7975 3131
Fax: +44 (0)20 7975 3232

Our portfolio companies

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Benelux

Cornelis Schuytstraat 72
1071 JL Amsterdam
THE NETHERLANDS

Tel: 0031 / 20 3057444
Fax: 0031 / 20 3057455

Our portfolio companies

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Germany

OpernTurm
Bockenheimer Landstraße
2-4
60306 Frankfurt am Main

Tel. +49 69 710000 0
Fax +49 69 710000 113

Our portfolio companies

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France

3 rue Paul Cézanne
75008 Paris

Tel: + 33 1 73 15 11 00

Our portfolio companies

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Spain

Calle Ruiz de Alarcón n 12 - 2º - B
28014 Madrid

Tel: +34 915 214 4 19
Fax: +34 915 219 8 19

Our portfolio companies

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China

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.

Our portfolio companies

Singapore

3i Asia Limited
6 Battery Road
Level 42, Unit 07
Singapore 049909

Our portfolio companies

map

Element

Business & Technology Services I US I 2010-2015

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.

“I would like to thank 3i for their close support which has been critical to delivering the rapid and sustainable growth that we have achieved over the past five years.”
Charles Noall, President and CEO of Element

Mold-Masters

Industrial I North America I 2007 - 2013

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).

map
“With 3i’s support, we have strengthened our global footprint in emerging markets and commercialised new innovative products.”
William Barker, CEO, Mold-Masters

TouchTunes

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.

GROWTH Network grew from 60,000 to 71,000 during our investment
“We have enjoyed tremendous success together over the last four years. Our association with 3i has helped propel TouchTunes into the global arena and I am thankful for their network and support, which has played a big role in our expansion efforts.”
Charles Goldstuck, Chairman and CEO of TouchTunes

Polyconcept

Business & Technology Services I US & Asia I 2005-2016

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.

“3i’s international perspective and depth of experience across a range of business challenges and opportunities made them strong partners for us.”
Gene Colleran, CEO, Polyconcept

Quintiles

Healthcare I US I 2008-2016

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.

“We are proud to have supported the business and its management team during this period of transformational growth and would like to thank them for their partnership over the years.”
Richard Relyea, Partner, 3i North America

Xellia

Business & Technology Services I Nordics I 2008 - 2013

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.

+11% The business delivered organic growth of 6% pa. double the overall market growth and generated an 11% growth pa of its EBITDA during our ownership
“3i’s investment, support, expertise and commitment enabled us to successfully grow and become leaders in the supply of anti-infective products.”
Carl-Åke Carlsson, CEO and President, Xellia

Gant

Consumer I Nordics I 2003 - 2006

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.

map
“We have valued our partnership with 3i highly. We are excited about the opportunities to further strengthen our brand and grow our business.”
Arthur Engel, CEO, Gant

Civica

Business & Technology Services I UK I 2008 - 2013

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.

+81% Sales grew from £127m to £230m in five years
“With 3i as a partner, we‘ve been able to strengthen the business as well as grow our footprint, both in the UK and internationally.”
Simon Downing, CEO, Civica

Element

Business & Technology Services I US I 2010-2015

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.

“I would like to thank 3i for their close support which has been critical to delivering the rapid and sustainable growth that we have achieved over the past five years.”
Charles Noall, President and CEO of Element

Hyperion

Business & Technology Services I UK I 2008 - 2013

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.

map
“With 3i as a partner, we‘ve been able to strengthen the business as well as grow our footprint, both in the UK and internationally.”
David Howden, CEO and Founder, Hyperion

Mayborn

Consumer I UK I 2006-2016

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.

“Mayborn has undertaken a transformational journey over the past 10 years, and I would like to thank 3i for its partnership. 3i’s international mindset has been an important factor in our successful expansion into new markets.”
Steve Parkin, CEO of Mayborn

Hyva

Industrial I Benelux I 2004 - 2011

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.

map
“I’d like to thank 3i for their continuous support in transforming a European, Dutch-based business into a truly global player.”
Louwrens Dijkstra, CEO, Hyva

Refresco

Consumer | Benelux | 2010 – 2015

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.

€2bn Revenue increased from €1.2bn in 2010 to €2bn in 2015
“The successful listing of Refresco on the Euronext Amsterdam represents a significant milestone for the Company following our expansion from a local juice manufacturer to the leading European independent bottler of soft drinks for retailers and A-brand owners.”
Hans Roelofs, CEO of Refresco

Amor

Industrial I Germany I 2010-2016

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.

“Amor has undertaken a transformational journey over the past six years, and I would like to thank 3i for its partnership. 3i’s international network has proved invaluable in establishing our brand across Europe.”
Marcus Hoffmann, CEO of Amor

GEKA

Industrial I Germany I 2012-2016

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.

“Since our investment in GEKA, the company has significantly improved its operating efficiency, expanded its international reach and broadened its offering. It was a pleasure to support GEKA on its growth path, and we are confident that GEKA has an exciting future ahead.”
Ulf von Haacke, 3i Managing Director and Head of Industrials

Hilite International

Industrial I Germany I 2011 - 2014

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.

+15% Between 2010 and 2013 grew at a double digit rate. 15% CAGR compared to the 4.5% industry average
“3i has supported us through a vital phase in our development. We’re now a more focused company with global presence, particularly in China.”
Karl Hammer, CEO, Hilite International

Mold-Masters

Industrial I North America I 2007 - 2013

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).

map
“With 3i’s support, we have strengthened our global footprint in emerging markets and commercialised new innovative products.”
William Barker, CEO, Mold-Masters

NORMA

Industrial I Germany I 2006 - 2011

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.

map
“3i is proud to have contributed to the success of NORMA which has grown from a regional German player to an undisputed international leader.”
Ulf von Haacke, Managing Director, 3i Germany

Trescal

Business & Technology Services I France I 2010 - 2013

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.

map
“We made acquisitions we could never have achieved if we’d had any other shareholder than 3i.”
Olivier Delrieu, CEO, Trescal

Panreac

Industrial I Spain I 2005 - 2010

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.

EXPANSION International expansion from the US to Asia and the Caribbean
“We wish to express our appreciation to 3i for the support received during these last five years of growth.”
Joan Roget, Managing Director Panreac

Expanding into China

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.

Related Case Studies

John Hardy

Consumer I Singapore I 2007 - 2014

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.

EXPANSION International expansion from the US to Asia and the Caribbean
“3i’s extensive support and network helped us navigate the global financial crisis and grow the brand strategically afterwards.”
Damien Dernoncourt, CEO John Hardy

Amor

Industrial I Germany I 2010-2016

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.

“Amor has undertaken a transformational journey over the past six years, and I would like to thank 3i for its partnership. 3i’s international network has proved invaluable in establishing our brand across Europe.”
Marcus Hoffmann, CEO of Amor

Civica

Business & Technology Services I UK I 2008 - 2013

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.

+81% Sales grew from £127m to £230m in five years
“With 3i as a partner, we‘ve been able to strengthen the business as well as grow our footprint, both in the UK and internationally.”
Simon Downing, CEO, Civica

Element

Business & Technology Services I US I 2010-2015

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.

“I would like to thank 3i for their close support which has been critical to delivering the rapid and sustainable growth that we have achieved over the past five years.”
Charles Noall, President and CEO of Element

Expanding into China

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.

Related Case Studies

Gant

Consumer I Nordics I 2003 - 2006

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.

map
“We have valued our partnership with 3i highly. We are excited about the opportunities to further strengthen our brand and grow our business.”
Arthur Engel, CEO, Gant

GEKA

Industrial I Germany I 2012-2016

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.

“Since our investment in GEKA, the company has significantly improved its operating efficiency, expanded its international reach and broadened its offering. It was a pleasure to support GEKA on its growth path, and we are confident that GEKA has an exciting future ahead.”
Ulf von Haacke, 3i Managing Director and Head of Industrials

Hilite International

Industrial I Germany I 2011 - 2014

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.

+15% Between 2010 and 2013 grew at a double digit rate. 15% CAGR compared to the 4.5% industry average
“3i has supported us through a vital phase in our development. We’re now a more focused company with global presence, particularly in China.”
Karl Hammer, CEO, Hilite International

Hyperion

Business & Technology Services I UK I 2008 - 2013

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.

map
“With 3i as a partner, we‘ve been able to strengthen the business as well as grow our footprint, both in the UK and internationally.”
David Howden, CEO and Founder, Hyperion

Hyva

Industrial I Benelux I 2004 - 2011

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.

map
“I’d like to thank 3i for their continuous support in transforming a European, Dutch-based business into a truly global player.”
Louwrens Dijkstra, CEO, Hyva

John Hardy

Consumer I Singapore I 2007 - 2014

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.

EXPANSION International expansion from the US to Asia and the Caribbean
“3i’s extensive support and network helped us navigate the global financial crisis and grow the brand strategically afterwards.”
Damien Dernoncourt, CEO John Hardy

Mayborn

Consumer I UK I 2006-2016

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.

“Mayborn has undertaken a transformational journey over the past 10 years, and I would like to thank 3i for its partnership. 3i’s international mindset has been an important factor in our successful expansion into new markets.”
Steve Parkin, CEO of Mayborn

Mold-Masters

Industrial I North America I 2007 - 2013

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).

map
“With 3i’s support, we have strengthened our global footprint in emerging markets and commercialised new innovative products.”
William Barker, CEO, Mold-Masters

NORMA

Industrial I Germany I 2006 - 2011

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.

map
“3i is proud to have contributed to the success of NORMA which has grown from a regional German player to an undisputed international leader.”
Ulf von Haacke, Managing Director, 3i Germany

Panreac

Industrial I Spain I 2005 - 2010

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.

EXPANSION International expansion from the US to Asia and the Caribbean
“We wish to express our appreciation to 3i for the support received during these last five years of growth.”
Joan Roget, Managing Director Panreac

Polyconcept

Business & Technology Services I US & Asia I 2005-2016

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.

“3i’s international perspective and depth of experience across a range of business challenges and opportunities made them strong partners for us.”
Gene Colleran, CEO, Polyconcept

Quintiles

Healthcare I US I 2008-2016

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.

“We are proud to have supported the business and its management team during this period of transformational growth and would like to thank them for their partnership over the years.”
Richard Relyea, Partner, 3i North America

Refresco

Consumer | Benelux | 2010 – 2015

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.

€2bn Revenue increased from €1.2bn in 2010 to €2bn in 2015
“The successful listing of Refresco on the Euronext Amsterdam represents a significant milestone for the Company following our expansion from a local juice manufacturer to the leading European independent bottler of soft drinks for retailers and A-brand owners.”
Hans Roelofs, CEO of Refresco

TouchTunes

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.

GROWTH Network grew from 60,000 to 71,000 during our investment
“We have enjoyed tremendous success together over the last four years. Our association with 3i has helped propel TouchTunes into the global arena and I am thankful for their network and support, which has played a big role in our expansion efforts.”
Charles Goldstuck, Chairman and CEO of TouchTunes

Trescal

Business & Technology Services I France I 2010 - 2013

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.

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“We made acquisitions we could never have achieved if we’d had any other shareholder than 3i.”
Olivier Delrieu, CEO, Trescal

Xellia

Business & Technology Services I Nordics I 2008 - 2013

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.

+11% The business delivered organic growth of 6% pa. double the overall market growth and generated an 11% growth pa of its EBITDA during our ownership
“3i’s investment, support, expertise and commitment enabled us to successfully grow and become leaders in the supply of anti-infective products.”
Carl-Åke Carlsson, CEO and President, Xellia

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