Industrial Technology, Services
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.
Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.
Utilities
Future Biogas is one of the largest anaerobic digestion (AD) plant developers and biogas producers in the UK, operating 11 AD plants on behalf of institutional investors under long-term contracts.
Future Biogas’s plants convert a wide range of feedstocks into clean and renewable energy through AD which produces biogas. Biogas can either be used to generate green electricity, or upgraded into biomethane and injected into the UK’s national gas network. Future Biogas produces over 500GWh of biogas per year, enough energy for over 40,000 homes.
Biomethane from AD is a ready-to-use and commercially-viable solution for hard to decarbonise industrial sectors. It does not require any upgrade to the existing UK gas infrastructure. Energy produced by AD plants is carbon neutral, as the CO2 released during the process matches the CO2 absorbed from the atmosphere by the feedstock.
Future Biogas promotes a regenerative farming approach, sustainably integrating feedstock from energy crops into agricultural systems. The circular process of returning digestate back to land can help replenish soil nutrients and carbon and displaces demand for carbon intensive artificial fertilisers.
Future Biogas is the largest producer of biomethane in the nascent UK market and a highly experienced developer and operator of AD plants, with full-service capabilities in development, construction and operations.
There is strong political support and growing corporate demand for domestically-produced biomethane, which, as a direct substitute for fossil natural gas, has an essential role to play in decarbonising some of the UK’s gas dependent sectors such as heat, transport and manufacturing.
On a national scale, the use of biomethane (vs. natural gas) allows the existing gas infrastructure to help meet the UK Government’s Net Zero and energy security targets without any change to the existing system.
Future Biogas will develop a new generation of unsubsidised AD plants and sell the resulting biomethane under long-term offtake agreements to corporate buyers.
In the longer term, Future Biogas intends to enter the nascent but high potential voluntary carbon offset market through carbon capture and storage.
Future Biogas has a highly experienced management team with a strong track record in the sector.
Regulatory information
This transaction involved a recommendation of 3i Investments plc.
Communications
Global Cloud Xchange (“GCX”) is a leading global data communications service provider and owner of one of the world’s largest private subsea fibre optic networks. The business provides high-bandwidth connectivity to a range of customers including over-the-top content providers, telecom carriers, new media providers and enterprises.
GCX’s 66,000km of cables span from North America to Asia. It is particularly strong on the Europe-Asia and Intra-Asia routes where it is well positioned to capitalise on growth opportunities and serve the exponentially growing demand for data traffic.
The business is performing in line with expectations; lease revenues have grown strongly as the business prioritises recurring revenues over one-off cash IRU sales.
GCX is currently examining several opportunities to invest in new cables in the Middle East which would provide synergies with its existing network.
Regulatory information
This transaction involved a recommendation of 3i Investments plc.
Utilities
Herambiente is the Italian leader in the waste treatment and disposal sector. The company owns and operates a portfolio of c.80 waste treatment facilities, mostly located in the Emilia Romagna. The plants include landfills, waste to energy plants, anaerobic digestion and other waste sorting facilities.
Herambiente’s revenues originate primarily from waste treatment and disposal and from sale of the resulting by-products, including electricity from incineration, biogas from landfills and recycled materials. In 2016, Herambiente treated c. 1.7m tons of urban waste, 4.7m tons of special waste and produced 161,455,167kWh of electricity.
Regulatory information
This transaction involved a recommendation of 3i Investments plc.
Utilities
Infinis is the largest generator of electricity from landfill gas in the UK, with a portfolio of more than 150 operational sites and total installed capacity of over 400MW.
Regulatory information
This transaction involved a recommendation of 3i Investments plc.
Social Infrastructure
Ionisos is a leading owner and operator of cold sterilisation facilities servicing the medical, pharmaceutical and cosmetics industries. Established in 1993 in Civrieux, France, Ionisos is the third largest cold sterilisation provider globally and operates a network of 10 facilities in Europe with market leading positions in France and Spain. It has over 200 employees and a highly diversified customer base of more than 1,000 customers.
Ionisos delivers a mission-critical, non-discretionary service for the medical, pharmaceutical and cosmetics industries for whom cold sterilisation is an essential component of the manufacturing process. It is typically applied to single use products that would be damaged by the heat and/or humidity of hot sterilisation methods.
Services
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.
Regulatory information
This transaction involved a recommendation of 3i Corporation.
Energy
Joulz is a leading owner and provider of essential energy infrastructure equipment and services in the Netherlands. Joulz serves approximately 20,000 industrial, commercial, and public sector clients with its solutions, that encompass realization, maintenance, management, and leasing of energy infrastructure equipment.
Joulz’ service offering includes mid-voltage infrastructure (owning and leasing transformers, switchgear and cables under long-term contracts), storage (owning and leasing large scale battery storage systems under mid- to long-term contracts), solar (large-scale installations under operational lease or with government-subsidized PPAs), metering (owning and leasing 50,000 electricity and gas meters under mid-term contracts) and EV charging (AC and DC charge points in mid-term exploitation, rental or CPO contracts). Additionally, it provides integrated solutions to address energy transition challenges such as grid congestion.
Regulatory information
This transaction involved a recommendation of 3i Investments plc.
Consumer
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.
“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
Consumer
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.
“We are proud to be part of the 3i portfolio as they share our passion for lighting and smart home innovations. 3i has been a great partner in our ambitious buy & build strategy to increase international market presence by providing us with valuable operational expertise as well as a highly professional network. Moreover, with their profound knowledge, especially in private label strategy, branding and operations, 3i strongly supports us to continue to grow efficiently in the future.” Vanessa Stützle, CEO, Luqom Group
Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.
Software, Services
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.
"3i has been a great partner for 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 has been very valuable to MAIT." Stefan Niehusmann, CEO, MAIT
Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.
Consumer
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.
Consumer
MPM is an international leader in branded, premium, natural pet food. The business owns leading pet food brands such as Applaws, Encore and Reveal and differentiates itself through its high quality, human-grade products, its natural, clean-label ingredients and its “cat first” proposition.
MPM is a certified B-Corp and its loyal customer base places great importance on its sustainable sourcing and recyclable packaging. Headquartered in Manchester, UK, MPM has an established presence in the UK, EMEA and APAC with a fast-growing business in North America resulting in international sales now accounting for more than 70% of revenues.
The market has proven resilient through economic downturns and Covid-19, with pet ownership increasing amongst a highly engaged and loyal community for whom pets are seen as family members.
“3i has a formidable track record in helping its companies to grow internationally, particularly in the US market. This will be especially key for MPM as we look to accelerate our expansion in North America. The 3i team also has significant brand expertise through a number of its consumer investments which will be of great benefit to MPM.” Julian Bambridge, CEO, MPM
Consumer
nexeye
Founded in 1982 and headquartered in the Netherlands, Nexeye is a market leading value-for-money optical retailer in the Benelux with a presence in Sweden. The company offers a range of private label and branded spectacles, as well as hearing aids, contact lenses and sunglasses, at average price points significantly below its major competitors.
Nexeye is one of the most well-known optical retailers in its core markets, with a high level of brand awareness and customer loyalty that will benefit from long term macro-growth dynamics.
"By working together to the maximum extent under the common nexeye banner and sharing knowledge and resources with each other, we aim to accelerate the growth of our current and future labels, creating value for all our stakeholders." Bart van den Nieuwenhof, CEO, nexeye
Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Benelux.
Transport & logistics
Oystercatcher is the holding company through which 3i Infrastructure holds a 45% interest in Advario Singapore Limited (previously Oiltanking Singapore Limited).
Advario Singapore is a 1.3 million cubic metre facility focused on storage and blending of refined clear petroleum products for a range of blue chip customers. With a premier location, on Jurong Island, it is accessed by pipeline, sea going vessel and barge.
Oiltanking is one of the world’s leading independent storage partners for oils, chemicals and gases, operating 41 terminals in 18 countries with a total storage capacity of 16 million cubic metres.
Regulatory information
This transaction involved a recommendation of 3i Investments plc.
Healthcare
Q Holding is a global leading manufacturer of catheters and high-end materials science-based critical components and subassemblies for the medical devices industry. Headquartered in Ohio, it sells products in over 80 countries and has 13 manufacturing locations in North America, Europe and Asia.
Q Holding has built a strong reputation as the supplier of choice to provide high-quality components that are mission critical. It has developed longstanding relationships with a broad range of blue chip customers who value their ability to develop such critical products and solutions.
Regulatory information
This transaction involved a recommendation of 3i Corporation.