• 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 nine distribution centres and two hubs
    • Operates more than 1,700 stores across seven countries and employs over 59,000 staff
    • Leveraging our network, experience and resources to further internationalise the business
    • Ongoing sustainability efforts: 76% of cotton products sold by Action are certified by the Better Cotton Initiative and 60% 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.png
    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 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.jpg
    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.png
    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.

  • BASIC-FIT.png
    Basic-Fit
    Benelux / Private Equity

    Consumer

    Overview

    Benelux-based Basic-Fit is the European market leader in the value-for-money fitness market with c900 clubs across five countries. Its operating model is based on a quality service, no frills approach, with memberships at €19.99 per 4 weeks. 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. During the lockdown in 2020-2021, Basic-Fit invested in its relationship with its customers by not collecting any membership fees and by offering live programmes online via the Basic Fit app.

    Highlights

    • Transformational growth into the largest value-for-money fitness club operator in Europe, increasing the number of clubs by over 400% from 199 to over 1,000 across the Benelux, France and Spain as per September 2021.
    • In June 2016, 2.5 years after our investment, Basic-Fit completed its €820m IPO on the Amsterdam Stock Exchange (350 clubs at the time)
    • 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

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

  • BoConcept.png (1)
    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 DKK1.2bn in the financial year ending 30 April 2020.

    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.

  • CHRIST.png
    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
    “3i's long-time experience in the consumer space and our close and trusted relationship are the basis for Christ's resilience during the Covid-19 crisis and the driver of accelerated post-Covid growth.” Stephan Hungeling, CEO, Christ

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

  • logo-cirtec.jpg
    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 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.

  • Dutch Bakery-portfolio-logo.png
    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.png
    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.

  • evernex-logo.png
    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 220,000 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. Depuymorin (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.jpg
    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 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
    “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.

  • garten haus - logo - 500x367.png
    GartenHaus
    Germany / Private Equity

    Consumer

    Overview

    GartenHaus headquartered in Hamburg, Germany, is the online leader in the garden homes, sheds, saunas and related projects market in the DACH region. The business combines specialist trade product know-how with digital competence and offers a one-stop platform for customers – from planning to realisation and maintenance of their garden and home projects.

    Founded in 2002, GartenHaus is a pure eCommerce player and has been the pioneer in selling garden homes directly to consumers.   

    We see the business as the foundation to building the leading European platform for home and garden projects. The key focus is to develop the product range into adjacent categories, as well as to internationalise the business by expanding into neighbouring countries.

    Highlights

    • The home and garden market is expected to see online penetration double by 2025, generating market growth of c.13%
    • GartenHaus generates 95% of its sales directly online with a high level of SEO traffic as a result of its strong content
    • The business differentiates itself through its own product development, excellent customer service, and the management of complex logistics
    • Only 70 days after 3i's acquisition, GartenHaus acquired Polhus, a leading online retailer of garden houses and related products in Scandinavia
    • Acquisition of Outdoors Toys, a leading online D2C retailer of outdoor garden toys in the UK, in October 2021
    “3i has a great reputation for helping its companies to grow internationally and we are excited to partner with their team at this point in our journey. The 3i team has a strong network, excellent digital capabilities and a strong track record in the consumer retailer space, all of which will be of great benefit to GartenHaus.” Sebastian Arendt, CEO, GartenHaus
  • HANS ANDERS.png
    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
    • Strengthened omnichannel position led to an increase of >100% of shop appointments made online, delivering a more valuable experience in-store, with zero waiting time, and better aligned staff planning.
    "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.

  • Havea-group-500x367.png
    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 (pharma, mass market, D2C) and its 7 well-known strategic brands: Biolane, Vitavea, Nature Moi, Yves Ponroy, Aragan, Densmore and Dermovitamina. Havea has acquired 5 companies in the past 5 years to strengthen its presence in the pharmacy channel and internationally.

    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, Pasquali in Italy in April 2019, Laudavie in November 2020 and ixX pharma in Belgium in August 2021
    "3i is a great partner for Havea; its values and approach fit really well with our entrepreneurial mindset. They relentlessly look for growth while keeping the right balance between operational performance improvement and the strengthening and digitalisation of our core processes. In 4 years with 3i, we have doubled the size of the Group and made 5 acquisitions, including my own company” Nicolas Brodetsky, CEO, Havea

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

  • JMJ - 500 x 367.png
    JMJ Associates
    North America, UK / Private Equity

    Business & Technology Services

    Overview

    JMJ Associates is a US-headquartered, leading global safety, sustainability, and performance 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 strong international presence and future growth will come from its strong underlying end-markets, the increasing complexity and size of major capital projects, 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.

Back to top