• ActionLogo_NEWmarch18.png
    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 €5bn 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 eight distribution centres
    • Operates more than 1,552 stores across seven countries and employs c.51,000 staff
    • Leveraging our network, experience and resources to further internationalise the business

    Update 2019   

    "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.

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    AESSEAL
    UK / Private Equity

    Industrial

    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 on engineered specials provided through advanced manufacturing including world class integrated CAD / CAM and PLM
    • Received 13 Queen’s Awards
    • Global service is provided through 56 fully or majority owned international subsidiaries
    "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.

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    Audley Travel
    UK / Private Equity

    Consumer

    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 already generating over 15% of total revenues.

     

    Highlights

    • Completed a successful refinancing with the support of our Banking team
    • Implementation of a wider employee incentive scheme to benefit a broader base of Audley management and country specialists
    • Accelerating growth in the US business, including the 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 2017 and 2015-16

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

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    Basic-Fit
    Benelux / Private Equity

    Consumer

    Overview

    Benelux-based Basic-Fit is the European market leader in the value-for-money fitness market with c700 clubs across five countries. Its operating model is based on a quality service, no frills approach, with membership costing €19.99 per month. Clubs are well equipped, offer virtual group classes and 24 hour opening in some venues. 

    Basic-Fit’s disciplined international growth strategy is underpinned by investment in the organisation and key consumer trends of spending polarisation and the increasing focus on health and wellness. Alongside this, significant investment has been made to professionalise the business including a review of the brand and the format of the clubs.

    Highlights

    • Transformational growth into the largest value-for-money fitness club operator in Europe, increasing the number of clubs from 199 at entry in 2013 to c700 across five countries
    • In June 2016, 2.5 years after our investment, Basic-Fit completed its €820m IPO on the Amsterdam Stock Exchange
    • Successful execution of international roll out strategy, creating market leading positions in the Netherlands and Belgium and a strong platform for further growth in France and Spain
    • Introduced Ronald van der Vis as Chairman via our Business Leaders Network

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

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    BoConcept
    Denmark / Private Equity

    Consumer

    Overiew

    Established in 1952, BoConcept has evolved into the most global interior design and furniture brand. With the brand promise of ‘Encouraging cosmopolitan living’ BoConcept has built a strong following across the world and is now present in 65 markets through a network of more than 290 brand stores.

    Following strong business improvement during the last two years, the company realised sales of DKK1.3bn in the financial year ending 30 April 2018.

    Highlights

    • Public to Private in 2016
    • We are supporting the Company in continuing its successful international franchise store roll-out by leveraging the strength of the store concept and product collection
    • Accelerating its efforts to build an omnichannel presence as well as expanding its fast-growing B2B business.
    "We are investing in a successful international brand with a proven track record in over 60 countries. We look forward to supporting the management team to further develop the company and continue to grow it internationally." Boris Kawohl, Partner, 3i Benelux

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

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    Christ
    Germany / Private Equity

    Consumer

    Overview

    Christ is a German jeweller, founded in Frankfurt in 1863 and now based in Hagen. The company is a market leader in jewellery and watches in Germany in the mid-to-upper price segment.

    Christ focuses on its own specialised stores in high street locations and shopping malls, along with flagship stores at airports and prestigious department stores. Additionally, Christ runs a strongly growing e-commerce platform. Through its strong multi-channel capabilities bridging between the stationary stores and the e-Commerce business, Christ leverages its strong brand online and offline.

    Highlights

    • Our extensive experience in the retail sector is supporting Christ to access other high-potential markets via a European store roll-out programme
    • Peter Linzbach, former Executive Board member of Metro Cash & Carry, and Jochen Wilms, a seasoned digital expert and Chairman of 3i’s Lampenwelt investment, joined the Board via our Business Leaders Network providing retail, internationalisation and e-commerce insights
    • Strong retail brand and position means Christ is well placed to build on its success in the highly fragmented German market which is the largest in Europe
    • Initiatives planned across pricing, sourcing, assortment structure, inventory and financial control & transparency as well as further strengthening Christ’s e-commerce capabilities
    “We are delighted to partner with 3i, they have an extensive track record in growing businesses within the retail sector and we look forward to working with them closely as we enter this new stage of development and growth for the Company.” Dr Bernd Schröder, CEO, Christ

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

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    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 and minimally invasive medical devices. Customers rely on Cirtec’s expertise to provide value-add solutions throughout the entire development and commercial manufacturing cycles to help bring life-enhancing therapies to market and scale to success.

    Cirtec serves customers in the most innovative and fastest growing therapeutic end-markets and product platforms, providing significant tailwinds for growth in excess of the broader medical device outsourcing (MDO) market.

    Highlights

    • Helping Cirtec expand its capabilities and footprint through the acquisitions of Metrigraphics, Cactus, Vascotube, Top Tool and high value intellectual property
    • Supporting the business through continued targeted acquisitions within the highly fragmented MDO market
    • Utilising our sector experience and international network to promote Cirtec’s organic growth plans
    • 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.

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    CTS Bioprocessing
    North America / Private Equity

    Overview

    3i has established a scaled, global, pure-play platform in the bioprocessing market by bringing together SaniSure, Cellon, TBL, and Silicone Altimex (together, “CTS Bioprocessing”). CTS is a vertically-integrated player in the single-use bioprocessing technology (“SUT“) space capable of providing highly customised and innovative solutions to leading biopharma and biotech customers. The SUT bioprocessing market is anticipated to grow at 13-20%+ across its various subsegments over the coming years, as the industry transitions to more flexible, clean, and operating cost advantaged technology relative to traditional multi-use counterparts.

    Recognising an attractive market opportunity characterised by high growth and a need for a leading independent platform of scale, 3i began a journey to create a single use bioprocessing platform in January 2020 with the carve-out of Silicone Altimex from 3i portfolio company, Q Holding, along with the acquisitions of founder-owned businesses TBL and Cellon. 

    Seven months later, in July 2020, the platform completed the transformative acquisition of founder-owned Sani-Tech West Inc. (Sani-Tech West and subsidiaries SaniSure® and SureTech), a leading US-based manufacturer, distributor and integrator of single-use bioprocessing systems and components. The acquisition significantly expanded the combined group’s global footprint and brought a complementary portfolio of innovative products and single-use solutions capabilities. The combined platform has robust manufacturing and cleanroom assembly operations in both North America and Europe, offering enhanced supply chain assurance to its customers with a global footprint and vertically integrated capabilities. 

    Highlights

    • Created a unified, vertically-integrated platform in the high-growth bioprocessing space by bringing together Cellon, TBL, and Silicone Altimex 
    • Recruited key management members to complement the founders and other existing leaders, while professionalising the organisation and codifying business strategy
    • Brought Sani-Tech West into the CTS platform, doubling the size of the combined business and creating a global leader with well-established operations and reach in North America and Europe
    • Positioned CTS to be a global strategic SUT solutions partner of choice for leading biopharma and biotech companies and CDMOs
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    Dynatect Manufacturing
    North America / Private Equity

    Industrial

    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
    "3i was a natural choice of partner for us. With their international network and local market insight, we will be able to accelerate our international growth strategy and be best placed to service our global customer base". Brian McSharry, Former CEO, Dynatect

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

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    Evernex
    France / Private Equity

    Business & Technology Services

    Overview

    Headquartered in Paris, France, Evernex is a leading international provider of third party maintenance services for data centre infrastructure. With a global network of 34 offices, the business maintains over 200,000 IT systems in c.160 countries and is the preferred maintenance partner for multinational companies.

    Evernex has developed a multi-channel and multi-vendor flexible offering. Its maintenance proposition covers data centre hardware & critical IT assets, such as servers, storage and business network equipment, with a differentiated presence notably in Europe and Latin America.

    Highlights

    • With over 20% growth per annum over the last six years Evernex is a leading player in the mission-critical IT lifecycle services
    • Highly differentiated proposition (one single point of contact) and a global footprint
    • Well positioned consolidation platform to take global leadership in a fragmented industry
    • Partnership with existing management team to push Evernex’s expansion agenda in a market backed by sound growth fundamentals
    "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.

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    Formel D
    Germany / Private Equity

    Industrial, 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 20 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
    “We are excited to work with 3i and CITIC Capital. Formel D’s international success story has just begun and we feel the combination of 3i and CITIC Capital is an exceptional one to further drive the next phase of our growth.” Dr. Juergen Laakmann, CEO, Formel D

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

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    Hans Anders
    Benelux / Private Equity

    Consumer

    Overview

    Founded in 1982 and headquartered in the Netherlands, Hans Anders is a market leading, value-for-money optical retailer in North-West Europe. The company operates under the Hans Anders, eyes + more and Direkt Optik retail banners, and offers a range of private label and branded spectacles, hearing aids, contact lenses and sunglasses at average price points significantly below its major competitors.

    Hans Anders 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.

     

    Highlights

    • Leading and fast-growing optical retail platform that is exclusively focused on the growing value-for-money segment
    • Acquired eyes + more in January 2019, expanding Hans Anders' European footprint to five countries
    • Benefits from long-term, macro growth dynamics including an aging population and an increasing consumer focus on value-for-money
    • Fragmented European optical retail market presents significant opportunities for growth
    "eyes + more is a great strategic fit for Hans Anders and the acquisition will transform our company into a European platform, making it the leading North-West European optical retailer in the growing value-for-money segment." Bart van den Nieuwenhof, CEO, Hans Anders

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

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    Havea Group
    France / Private Equity

    Healthcare, Consumer

    Overview

    Havea Group is a leader in the Natural Consumer Healthcare industry in Europe. It manufactures, designs and distributes a wide range of products from functional and natural food supplements, to natural personal care products for babies and women through its world class plant in France. Havea is well positioned due to its multi-distribution channel strategy and owns several well-known brands including Vitarmonyl, Biolane, Manhaé, Ultrabiotique, Naturémoi and acquired Aragan / Synactifs and Suvéal Duo brands in 2017 and 2018 respectively to strengthen Havea's presence in the pharmacy channel.

    Since inception, Havea has grown at a double digit rate each year organically and is well positioned to benefit from the consolidation taking place in this highly fragmented market and will continue to expand its international footprint in Europe, Asia and the Americas.

    Highlights

    • Strong future organic growth expected stemming from global mega trends in natural healthcare and well-being
    • Transitioned from a family-owned business with the nomination of a new management team including Nicolas Brodetsky, former CEO of Aragan
    • Supporting the management team to implement a complete digital strategy
    • Supporting M&A opportunities using our global network and strong experience which led to the acquisitions of Aragan within a few months of our ownership, Densmore in July 2018 and Pasquali in Italy in April 2019
    "3i is a great partner for Havea; its values and approach really fits well with our entrepreneurial approach. They relentlessly look for growth while keeping the right balance with operational performance improvement, and robustness and digitalization of the core processes. In 2 years with 3i we have doubled the size of the Group, made 3 acquisitions including my own company” Nicolas Brodetzky, CEO, Havea

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

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    I.C.E
    North America / Private Equity

    Business & Technology Services

    Overview

    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.)  ICE also partners with leading travel suppliers to generate incremental travel bookings from members of its loyalty programmes.

    ICE 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
    “We are delighted to be partnering with 3i and believe the team is well-suited to assist our business in continuing to grow and scale. 3i has a proven track record in the travel industry and an impressive international network which will be of great value to I.C.E.” John Rowley, Co-Founder & CEO, I.C.E

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

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    JMJ Associates
    North America, UK / Private Equity

    Business & Technology Services

    Overview

    JMJ Associates is a US-headquartered, leading, global safety training and consulting firm with a focus on supporting multinational companies with complex capital programmes and operations. The business works with clients to significantly enhance their workplace safety and their project and organisational team performance through behavioural and cultural transformation.

    JMJ has a substantial international presence and future growth will come from its strong underlying end-markets, the increasing complexity and size of major capital projects, rising global spending on workplace safety 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

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

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    Lampenwelt
    Germany / Private Equity

    Consumer

    Overview

    Lampenwelt is the #1 speciality 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 15 country-specific online shops.

    Lampenwelt differentiates itself from its competitors through an extensive range of over 45,000 products, in-depth product knowledge, excellent customer service and high product availability. The company generated €75m of sales in 2017, of which ~50% came from outside Germany, and has grown strongly in Germany and through a steady roll-out across Europe 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
    "We are delighted to be partnering with 3i for the next stage in our growth story. 3i has extensive experience in the consumer sector and an impressive network which will help us enlarge our footprint in Europe." Thomas Rebmann, CEO, Lampenwelt

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

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