Overview

Action, which was established in 1993 in the Netherlands, is the fastest-growing non-food discounter in Europe with more than 2,300 stores across the Netherlands, Belgium, France, Germany, Luxembourg, Austria, Poland, the Czech Republic, Italy, Spain and Slovakia. 

Large-scale procurement, flexible assortment, optimal distribution and a cost-conscious culture ensure good quality products at the lowest price. Action offers over 6,000 low-price, good quality products in fourteen categories. In Action's stores, customers can find well-known A-brands next to Action-owned brands and brands owned by Action's suppliers. Two-thirds of the assortment changes frequently, as Action introduces more than 150 new articles every week. 

The 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, pet, fashion and linen.

Action generates revenues of over €8bn per annum. Its business model differs from that of more traditional retailers because only 35% of its total product range is fixed. Action believes that it is possible to offer a surprising assortment at the lowest price, while improving the quality and sustainability of their products. The essence of Action: "small prices, big smiles". 

Highlights

• In 2022 Action won 3 awards in the ‘Retailer of the Year’ competition, awarded by customers, and 6 private label products won the ‘Product of the Year Award’

• Opened twelve distribution centres and three hubs

• Operates more than 2,300 stores across eleven countries and provides work to almost 80,000 people 
• Leveraging our network, experience and resources to further internationalise the business
• Ongoing sustainability efforts: 90% of cotton products sold by Action are certified by the Better Cotton Initiative, 92% of the paper and wood products in its range are made from sustainably sourced wood and 100% of their private label cocoa products are Fairtrade
• 95% of their stores are fitted with energy efficient LED lights and 90% of green renewable electricity is used for their stores, DCs and offices 
• 100% of their private label packaging is recyclable

Update 2022   

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

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

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

Overview

arrivia is a global provider of technology-based B2B2C travel-based loyalty and reward solutions for organisations such as 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 2,300 staff and is headquartered in Scottsdale, Arizona with additional offices in Australia, the UK, Portugal, India, Mexico, New Zealand and the Philippines.

Highlights

• Strong underlying market growth in cruise and rewards-based travel; tailwinds towards increased use of loyalty programmes
• Partnering with the Founders to provide expertise and capital to accelerate the international growth of the business 
• Commercial investments in digital marketing and business development to support organic growth 
• Acquired three strategic businesses: 
  • SOR Technologies: TAM expansion into mid-market membership programmes 
  • WMPH: retail cruise agency with significant online presence 
  • RedWeek: online timeshare rental marketplace  
• Consolidated technology platforms into single unified travel booking and loyalty experience 

Regulatory information 
This transaction involved a recommendation of 3i Corporation.

Overview

Audley Travel (“Audley”) is a leading provider of tailor-made experiential travel to over 80 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 that has grown rapidly and is now generating over 15% of total revenues.

Highlights

• Implementation of a wider employee incentive scheme to benefit a broader base of Audley management and country specialists
• Using our extensive experience backing transatlantic growth businesses and international network to support the business’s growth plans and M&A opportunities in new source markets
• Building on their market leading position in the UK and accelerating growth in the US business, including the launch of European destinations from 2016
• Continuing to drive the digital development of the business
• Completed a successful refinancing with the support of our Banking team 

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

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 67 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

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

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 Precision Components, 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 investments in capabilities and technology to more deeply vertically integrate within existing end-markets and expand capabilities to support entry into new markets
• Completed three greenfield facility build-outs, adding >120ft² of capacity and creating a low-cost footprint in Costa Rica, and executed four additional expansions of existing facilities to support customers with broader capacity
• Recruited William Hawkins (former Medtronic CEO) and William Ellerkamp (former ExtruMed CEO) to the Board of Directors

Regulatory information 
This transaction involved a recommendation of 3i Corporation.

Overview

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 Chair 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 MNOs with an 'off-the-shelf' solution
• Supporting investment in new products and services that complement the existing offering (analytics, AI, etc.)

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 Chair, 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.

Overview

European Bakery Group, a leading bakery group specialising in bake-off bread and snack products, is headquartered in Tilburg and operates eleven bakeries across the Netherlands, Germany and Ireland.

European Bakery Group 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.

Highlights

• We are investing to drive the company’s international growth strategy in the fragmented European private label market for bake-off bread products, whilst supporting European Bakery Group in the continued investments in its home markets
• The business differentiates itself through the breadth of its product offering, superior quality and scale which enable retailers to develop structurally attractive bake-off categories
• European Bakery Group was formed in May 2023 through the combination between our original investment Dutch Bakery and coolback in Germany. Panelto subsequently joined European Bakery Group to form the UK and Ireland platform within the group 
• In addition to the transformational acquisitions of coolback and Panelto, Dutch Bakery completed two strategic add-on acquisitions, bringing the total to 4 completed acquisitions under 3i ownership 

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 220,000 IT systems and is the clear leader in Europe, Latin America and MEA and has an increasing presence in North America.

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 strategic acquisition of Technogroup (market leader in DACH, 1/3rd of Evernex's size) and the acquisition of Integra (leading player in the Benelux region)
• Complemented strong foothold in MEA with the acquisition of Storex (#1 in South Africa) 
• Established a strong presence in the US market through the acquisition of EmconIT, rapidly followed by the acquisition of XSi 
• 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, key recruitment, operational optimisation (notably opening of a new spare part production facility)

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

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 Chair via our Business Leaders Network

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

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.

Highlights

• Via our Business Leaders Network we introduced Pete Regan, who has unique experience in consulting and safety businesses, as Chair
• 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.

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

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.

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. €150m in sales per annum.

The business develops and implements solutions in close cooperation with their over 6,000 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 Chair of HR management software provider P&I, has joined the Advisory Board as Chair
• Strong M&A track record and further consolidation opportunities in a fragmented market

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

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. The products are sold through mass and specialty retail channels, e-commerce partners and Mepal’s own online channels.

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 itself from the competition based on premium design, functionality, product quality and a history of innovations (both re-designing existing concepts and launching new product lines)