• Actionlogo Newmarch18
    Action
    Benelux / Private Equity

    Consumer

    Overview

    Established in 1993, Benelux-based Action is the leading non-food discount retailer in Europe. Large-scale procurement, flexible assortment, optimal distribution and a cost-conscious corporate culture ensure very low prices. The core product assortment includes decoration, DIY, garden and outdoor, household goods, multimedia, sports, stationery and hobby, toys and entertainment, food and drink, laundry and cleaning, personal care, pets, clothing and linen.

    Action generates revenues of over €7bn per annum. Its business model differs from that of more traditional retailers because only c35% of its total product range is fixed. Action aims to surprise its customers with a constantly refreshed product range at amazingly low prices. The business model is summarised by the slogan: "more than you expect for less than you imagine".

    Highlights

    • Won "European Retailer of the Year" award for three consecutive years
    • Opened nine distribution centres and two hubs
    • Operates more than 2,100 stores across ten countries and employs over 65,000 staff
    • Leveraging our network, experience and resources to further internationalise the business
    • Ongoing sustainability efforts: 85% of cotton products sold by Action are certified by the Better Cotton Initiative and 87% of the paper and wood products in its range are made from sustainable wood.

    Update 2020   

    "Action continues to perform strongly by expanding rapidly. The company has become a seasoned issuer in the debt markets. The strong demand from investors reflects the high level of support for Action’s strategy and management.” Robert Van Goethem, Partner and Head of Consumer

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.

  • Aesseal 500X367 Aug2021
    AESSEAL
    UK / Private Equity

    Industrial Technology

    Overview

    AES’s mechanical seals are used in a variety of pumps and rotating equipment worldwide to prevent liquids and gases escaping into the environment. A wide range of mechanical seal types are manufactured to suit different industries and the significant investment made in modular design means that AES provides the best on-time delivery performance in the industry. 

    The AESSEAL® range of seals, seal support systems and bearing protectors are designed to improve reliability and reduce maintenance costs of rotating equipment. The business is focused on giving customers such exceptional service that they need never consider alternative sources of supply.

    Highlights

    • Established a strong international position in many end-user markets including the most arduous Oil & Gas applications
    • Exceptional customer service based on the world's most comprehensive inventory portfolio and advanced integrated manufacturing
    • Received 13 Queen’s Awards
    • Long-standing leadership in sustainability with clear focus on Net Zero Carbon
    "3i has been a great partner over nearly two decades. They understand what it takes to grow a great, international business; they both support us in that mission and challenge us to be the best we can." Chris Rea, OBE Founder and Managing Director

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc.

  • Arrivia
    arrivia
    North America / Private Equity

    Business & Technology Services

    Overview

    arrivia (formerly I.C.E.) is a global provider of technology-based B2B2C travel-based loyalty and reward solutions for organisations such as Carnival, American Express, USAA and Diamond Resorts.

    The Company has developed a network business model that enables leading brands to offer loyalty programmes that provide customers with unmatched value on all travel products (e.g. cruise, hotel, resort, etc.)  arrivia also partners with leading travel suppliers to generate incremental travel bookings from members of its loyalty programmes.

    arrivia employs over 2,600 staff and is headquartered in Scottsdale, Arizona with additional offices in Australia, UK, Portugal, India, Mexico, New Zealand and the Philippines.

    Highlights

    • Strong underlying market growth in cruise and rewards-based travel and tailwinds from increased use of loyalty programmes
    • Partnered with the Founders to accelerate international growth and support strategic initiatives
    • Transformative acquisition of SOR Technology, a leading provider in digital travel subscriptions
    • Strategic partnership with Lateral, a travel-focused software development firm, to accelerate platform development
    • Added to the senior management team with new CMO and VP of Finance roles
    • Introduced Marty Cole, former Chief Executive of Accenture Technology, as Chairman, and Jorge Boone, former SVP of Partner Brands at RCI (largest brand partner) and World Travel Holdings (largest competitor) as a Board Director
    “I am honoured to join the team at arrivia as its Chief Executive Officer and to partner with 3i, who has a proven track record in the travel industry and an impressive international network. Over the years, arrivia has built a very successful travel distribution company that has unique capabilities in the areas of membership, loyalty and revenue management. I believe the company has tremendous opportunities to capitalise on this foundation and innovate for the future.” Mike Nelson, CEO, arrivia

    Regulatory information 
    This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

  • Audley
    Audley Travel
    UK / Private Equity

    Consumer

    Overview

    Audley Travel (“Audley”) is a leading provider of tailor-made experiential travel to over 100 destinations worldwide. Serving clients predominantly in the UK and US, Audley is renowned for its superior customer service and in-depth destination expertise delivered by its country specialists. This exceptional service drives customer loyalty leading to high levels of repeat customers and referrals.

    Founded in 1996, Audley is the clear market leader in tailor-made travel in the UK. The business expanded into the US in 2014 with the opening of an office in Boston and grew rapidly to exceed 25% of bookings by 2019.

    Highlights

    • Accelerating growth in the US business, and successful launch of European destinations from 2016
    • Continuing to drive the digital development of the business
    • Named ‘Best Tour Operator’ at Telegraph Travel Awards in 2016, 2017 and 2019
    • Completed a successful refinancing with the support of our Banking team

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc.

  • Boconcept
    BoConcept
    Denmark / Private Equity

    Consumer

    Overview

    Established in 1952, BoConcept is a leading Nordic design brand with dedicated distribution through dedicated BoConcept franchises around the world. BoConcept (literally translated from Danish "Living Concept") helps a wide range of customers to transform their home into a modern and extraordinary space fit to their style, through personal styling advice, great design at affordable prices and a high level of customisation. With an omni-channel offering through its ~300 stores in 65 countries across five continents, the homogenous brand concept of BoConcept is globally proven in metropoles around the world. 

    The company realised sales of DKK1.5bn in the financial year ending 30 April 2022

    Highlights

    • Public to Private in 2016
    • We are supporting BoConcept in continuing its successful international franchise store roll-out by leveraging the strength of the brand, store concept and product collection
    • Accelerating its efforts to improve the omni customer journey as well as expanding its fast-growing B2B business
    • Supporting BoConcept in driving its sustainability strategy
    • Experienced an enormous digital acceleration, resulting in linking its online consumers to a virtual designer, thereby enabling BoConcept to establish a personal connection with its customers
    "BoConcept has a globally appealing customer proposition. I enjoy working with the management team and 3i to unlock the full potential of the company." Sanna Suvanto-Harsaae, Chairman, BoConcept

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.

  • Logo Cirtec
    Cirtec Medical
    North America / Private Equity

    Healthcare

    Overview

    Cirtec Medical ("Cirtec") is a leading global provider of outsourced medical device and components design, engineering and manufacturing, headquartered in Minnesota. Cirtec specialises in outsourced solutions for active implantable medical devices. Customers rely on Cirtec’s expertise to provide value-add solutions throughout the entire development cycle to help bring life-enhancing therapies to market.

    The medical device outsourcing (MDO) market is expected to grow at a high single digit rate over the next five years and Cirtec is strategically indexed to the most innovative therapeutic end-markets that are growing at a rate beyond the broader MDO industry.

    Highlights

    • Helping Cirtec expand capabilities and footprint through the targeted acquisitions of Vascotube, Metrigraphics, NovelCath, Cardea, Cactus and Top Tool, and certain high-value IP assets in the highly fragmented MDO market
    • Supporting the company’s organic growth initiatives, including expansion of capabilities, to increase vertically integrated offering to customers 
    • Utilising our sector experience and international network to promote Cirtec’s organic growth plans, including low-cost Costa Rican footprint 
    • Recruited William Hawkins (former Medtronic CEO) and William Ellerkamp (former ExtruMed CEO) to the Board of Directors

     

    "We look forward to partnering with 3i. We feel that their approach, sector understanding and international reach makes them the right partner to support the next stage of our growth." Brian Highley, CEO, Cirtec

    Regulatory information 
    This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

  • Digital Barriers
    Digital Barriers
    UK / Private Equity

    Business & Technology Services

    Overview

    Digital Barriers is a leading provider of IoVT (Internet of Video Things) surveillance, security and business intelligence products. Headquartered in the UK with offices across the US and Europe, Digital Barriers’ unique video compression technology allows live streaming over low-bandwidth environments, including cellular body worn cameras and an ever growing set of commercial applications. When coupled with its cloud-based, video management platform Digital Barriers is able to provide an end-to-end solution incorporating a wide range of AI-based operational, safety and business intelligence analytics – the only such cloud video platform that works as effectively on cellular as on fixed networks.

    The company has been a trusted partner to leading law enforcement, intelligence and defence agencies around the world for many years and will continue to serve this market. Working closely with Intel, Digital Barriers has leveraged its unique IP to develop commercial off-the-shelf products that are now being sold by blue chip telecom and security partners such as AT&T, Vodafone, Fujitsu and G4S to a wide range of commercial and public sector customers across various end-markets.

    Highlights

    • Recruited Tom Alexander (former Virgin Mobile and EE CEO) as Chairman and Bryan Schmode (former Avigilon executive and investor) as an advisor to the Board
    • Augmenting team to support shift in go-to-market strategy from a direct sales model, predominantly serving the bespoke needs of military and government customers, to a channel strategy, partnering with leading global MNO’s with an 'off-the-shelf' solution
    • Supporting investment in new products and services that complement the existing offering (analytics, AI, etc.)
    “We are delighted to partner with 3i and benefit from its expertise and global reach as we expand our offering with new products, move towards a subscription-based model and broaden our customer base, whilst continuing to provide a highly differentiated product and market-leading technology. We have now made live video over cellular networks a reliable and affordable reality for the first time - working with 3i and our new channel partners we can take these disruptive solutions out much more widely.” Zak Doffman, CEO, Digital Barriers
  • Dutch Bakery Portfolio Logo
    Dutch Bakery
    Benelux / Private Equity

    Consumer

    Overview

    Dutch Bakery, a leading bakery group specialised in home bake-off bread and snack products, is headquartered in Tilburg and operates six bakeries across the Netherlands.

    Dutch Bakery offers a leading, innovative and comprehensive assortment, which is produced sustainably and with natural ingredients. The bake-off market for bread and snack products is an attractive and growing market, with significant barriers to entry and increasing penetration of high-quality modified atmosphere packaging products (which extend the shelf life of fresh food products).

    Highlights

    • We are investing to drive the company’s international growth strategy in the fragmented European private label market for bake-off products, whilst supporting Dutch Bakery in the continued investments in its home markets
    • The business differentiates itself through the breadth of its product offering, which enables retailers to develop a structurally attractive home bake-off category
    • Key market drivers include premiumisation, growth in e-commerce and new home eating moments due to increased time spent at home
    • Dutch Bakery has completed its first add-on under 3i ownership
    "3i has extensive experience in the private label market through its investments in Royal Sanders and Refresco and a proven track record of growing companies internationally, both of which will be of great benefit to us. We look forward to working with them to build on our success to date and create a leading European player in the bake-off market." Raoul Vorage, CEO, Dutch Bakery
  • Dynatect
    Dynatect Manufacturing
    North America / Private Equity

    Industrial Technology

    Overview

    Dynatect is a leading manufacturer of engineered, mission critical components that protect equipment.

    Dynatect’s products are made from a variety of materials ranging from nylons to metals and are designed to protect and elongate the life of valuable equipment and protect workers near machinery. Products are low-cost yet critical, such as cable carriers or telescopic protective covers, and are sold into a large number of end-markets including automation, machine tools, construction, agriculture, transportation, medical and O&G. 

    The company is headquartered in Wisconsin, USA, and operates in four locations in the US and two locations in Europe.

    Highlights

    • Recruited several new executives into the senior leadership team to drive key initiatives
    • Investments in Pricing and New Product Development to drive organic growth
    • Investments in an ERP implementation and lean practices to improve operational efficiency
    • Introduced Bill Barker, former CEO of Mold-Masters as Chairman, and Steve Breitzka, former CEO of Apex Tool and Group Executive at Danaher, to the board

    Regulatory information 
    This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

  • Evernex Logo
    Evernex
    France / Private Equity

    Business & Technology Services

    Overview

    Headquartered in Paris, France, Evernex maintains equipment that is critical for customers' business continuity, with full coverage of all equipment (servers, storage and network) and all OEMs. With its global presence, Evernex maintains over 360,000 IT systems and is the clear leader in Europe, Latin America and MEA.

    Evernex acts as a single point of contact to address complex issues for its customers, combining strong technological capabilities with the ability to ensure quality of service anywhere across the globe. Today, Evernex is a leading consolidation platform benefitting from a fragmented and highly resilient market.

    Highlights

    • Secured European leadership through the acquisition of Technogroup (market leader in DACH)
    • Complemented strong foothold in MEA with the acquisition of Storex (market leader in South Africa)
    • Clear digitalisation roadmap to further enhance Evernex's tech-enabled proposition
    • Strong governance with the appointment of two industry leaders as Non-Executive Directors: O. Delrieu (Trescal) and O. de Puymorin (Arkadin)
    • Several Active Partnership levers launched to build a One Evernex: pricing, salesforce effectiveness, finance reorganisation
    "3i has a truly international team and network, which makes it the best partner for businesses looking to expand geographically. It also has deep expertise in the outsourcing space, and we look forward to benefiting from its track record as we accelerate our growth." Stanislas Pilot, CEO, Evernex

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

  • Logo Formel D
    Formel D
    Germany / Private Equity

    Industrial Technology, Business & Technology Services

    Overview

    Formel D is a leading global service provider to the automotive and component supply industry, offering quality assurance and process optimisation along the entire value chain - from development to production through to aftersales.

    The company offers a wide range of testing and inspection services for individual parts, systems and vehicles to major OEMs and suppliers. Formel D was founded in 1993 and has over 9,000 employees at 80 facilities in 22 countries worldwide.

    Highlights

    • Pursue attractive international growth opportunities both organically and by acquisitions
    • Up- and cross-sell the service portfolio to customers internationally
    • Partnered with management to expand higher “value-add” service offering
    • Introduced CITIC Capital as investment partner with a broad network in China
    • Introduced Ralph Heck as Chairman via our Business Leaders Network
    "I very much look forward to shaping the future of the Formel D Group in partnership with 3i and CITIC Capital. As a leading service provider in the Automotive industry, Formel D has developed strongly in recent years, offering future-oriented growth potential on an international level. We feel the combination of 3i and CITIC Capital is an exceptional one to further drive the next phase of our growth.” Thomas Klukas, CEO, Formel D

     

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.

  • Jmj Logo 500Px
    JMJ
    UK, North America / Private Equity

    Business & Technology Services

    Overview

    JMJ is a US-headquartered, leading cultural transformation firm, focused on improving safety, sustainability, and performance. JMJ supports executives and front-line workers at companies with complex capital programmes and ongoing operations across diverse industries on a global basis.

    JMJ has a strong international presence and future growth will come from its strong underlying end-markets, the increasing complexity and size of major capital projects and ongoing operations, the development of a virtual delivery platform, rising global spending on workplace safety, sustainability, and performance, and continued growth in the utilisation of external expertise in safety and project execution services.

    Highlights

    • Via our Business Leaders Network we introduced Pete Regan, who has unique experience in consulting and safety businesses, as Chairman
    • Moved to a full partnership structure in 2015
    • Using our international network to identify and support further growth opportunities
    • Using our experience in software to help JMJ add new digital capabilities and product offerings

    Regulatory information 
    This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

  • Konges Sloejd Logo
    Konges Sløjd
    Denmark / Private Equity

    Consumer

    Overview

    Konges Sløjd is a fast-growing premium international lifestyle brand offering apparel and every day products for babies and children. Headquartered in Copenhagen, Denmark, Konges Sløjd designs and markets high-quality children’s clothing, accessories, home products and toys through a curated network of (online-) retailers and direct-to-consumer e-commerce in more than 50 countries.

    The business has been a forerunner in the premium baby/child segment through its stylish, functional, safe, durable, sustainable and affordable products across all children categories, and is well positioned to accelerate its growth across Europe, Asia and North America.

    Highlights

    • International footprint with rapid global expansion resulting from a proven and replicable online and offline market-entry strategy
    • Global baby/child product market benefits from strong sociographic tailwinds such as premiumisation, rising middle classes and older parents having higher disposable incomes when they reach parenthood
    • Highly fragmented market among mass, premium, affordable luxury and aspirational luxury players, with Konges Sløjd well placed at the convergence of the fast-growing premium and affordable luxury segments
    “I’m very excited about partnering with 3i as I believe they recognise and value the true spirit of Konges Sløjd and have the right values, team, toolbox and commitment to support us on our global journey. We will be able to maintain our unique values, brand and design approach whilst reaching even more families around the world.” Emilie Konge Breindal, Founder and CEO, Konges Sløjd
  • Luqom Group Logo
    Luqom Group
    Germany / Private Equity

    Consumer

    Overview

    Luqom Group is the #1 vertically-integrated online retailer of lighting products in Europe. It is headquartered in Germany, from where it distributes own-brand and third party products to customers all over Europe through 27 country-specific online shops.

    Luqom Group differentiates itself from its competitors through an extensive range of 50,000 products, broad and differentiated product assortment, in-depth product knowledge, excellent customer service and high product availability. The company generated >€350m of sales in 2021, of which ~60% came from outside Germany. Luqom has grown strongly in the DACH region as well as internationally, through a steady roll-out across European countries in recent years.

     

    Highlights

    • Via our Business Leaders Network we appointed Jochen Wilms, a seasoned expert in both the building supply and online industries
    • Supporting the business to further strengthen its position in Germany and further penetrate existing and additional international markets
    • We also introduced the operational Venture Capital fund Project A Ventures as minority investor to further improve Lampenwelt’s best-in-class digital capabilities
    • Acquired Netherlands-based QLF / Lampenlicht, the leading player in the Benelux region, in July 2019 as well as Lampemesteren, the leading online retailer for premium lighting products in the Nordics, in March 2021

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.

  • Mait Logo
    MAIT Group
    Germany / Private Equity

    Business & Technology Services

    Overview

    MAIT Group is a leading provider of innovative and pioneering digital solutions in the DACH region.  Headquartered in Rottweil, Germany, MAIT focuses on software and hardware in product lifecycle management (“PLM”), enterprise resource planning (“ERP”) and IT services generating approx. €120m in sales per annum.

    The business develops and implements solutions in close cooperation with their over 5,300 SME customers. As a strategic implementation partner, MAIT uses the most innovative technologies from market-leading PLM, ERP and IT providers such as Siemens, PTC, SAP-PLM, abas, Comarch, HP and Fujitsu.

    Highlights

    • Differentiates itself by looking at digitisation in a holistic way and developing tailored solutions in partnership with its customers
    • High level of recurring revenues driven by multi-year maintenance and IT infrastructure contracts
    • Operates in an attractive market which is expected to continue to grow considerably; medium-sized companies in particular are investing significantly in digital transformation in order to make their processes more efficient and effective
    • Demand for PLM, ERP and IT is expected to grow by around 8% annually in the coming years, driven by megatrends such as IoT and Industry 4.0
    • Kamy Niroumand, former Chief Sales Officer at T-Systems and current Chairman of HR management software provider P&I, will join the Advisory Board as Chairman
    • Strong M&A track record and further consolidation opportunities in a fragmented market
    “As the management team, Kurt Gürtler, Axel Schmied, Oliver Spölgen and I are convinced that 3i will be a great partner for the next stage of MAIT’s growth, particularly in supporting our M&A strategy. 3i has a strong track record in the IT services sector and heritage in the DACH region. In addition, the 3i team has an impressive international network which will be very valuable to MAIT.” Stefan Niehusmann, Managing Director, MAIT

    Regulatory information 
    This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.

  • Mepal Final Logo 628X461
    Mepal
    Benelux / Private Equity

    Consumer

    Overview

    Mepal is a leading Dutch lifestyle consumer brand that is known for its innovative, high-quality and sustainable products for storing, serving and take-away of food and drinks.

    Headquartered in Lochem, the Netherlands, Mepal’s products are renowned for their original and premium design, functionality, convenience, quality and sustainability, resulting in market-leading levels of customer satisfaction which are sold through mass and specialty retail channels, e-commerce partners and Mepal’s own online channels.

    We are partnering with the company's management team to continue the international expansion of the successful consumer brand. The company has grown impressively since 2018 driven by organic expansion into food retail and other large retail chains in Germany, and increased e-commerce revenue.

    Highlights

    • Strong track record in both innovation and design, winning numerous leading design awards
    • Further growth planned in existing core markets of the Netherlands, Belgium and Germany as well as developing new markets in Europe
    • Planned growth of its online business, further benefitting from increased e-commerce opportunities
    • Strong focus on ESG; Mepal is focused on increasing the share of recyclable materials in the production process and customers can re-order parts to extend the lifecycle of their products Additionally the products themselves help reduce food waste and the usage of single-use packaging, such as plastic bags and single use cups and bottles
    • Differentiates from competition based on premium design, functionality, product quality and a history of innovations (both re-designing existing concepts and launching new product lines)
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