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Consumer
Established in 1993, Benelux-based Action is the leading non-food discount retailer in Europe. Large-scale procurement, optimal distribution and a cost-conscious corporate culture ensure very low prices. The core product assortment includes household goods and office supplies, cosmetics, personal care, snacks, food, toys, textiles, glass, porcelain and pottery, seasonal, decorative and DIY.
Action generates revenues of over €3bn 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".
"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
Industrial
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.
"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
Industrial
Aspen Pumps designs, manufactures and distributes specialised mini pumps that remove condensate water from air conditioning and refrigeration systems. It is the global leader for mini pumps and is renowned for having the most reliable, installer friendly and innovative products. Additionally, it sells a range of products for air conditioning installers and engineers, including its range of accessories, Aspen Xtra, and rooftop mounting systems, Big Foot.
Following our acquisition of Aspen in 2015, the business is building on its market leading position and further penetrating international markets in Europe, the Americas and Asia through a number of organic and acquisitive initiatives to enhance its offering of value-added components, tools and accessories.
"We are delighted to be partnering with 3i. We have been impressed with their ambition for the business and feel we can benefit greatly from their experience supporting businesses achieve international expansion." Adrian Thompson, Chief Executive, Aspen Pumps
Consumer
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.
"We are delighted to be partnering with 3i which has enabled our management team to invest further into the business. 3i has a longstanding track record of supporting people-based businesses, and their international mindset and footprint is highly attractive to us as a management team." Ian Simkins, Chief Executive, Audley Travel
Consumer
Benelux-based Basic-Fit is the European market leader in the value-for-money fitness market with c500 clubs across five countries. Its operating model is based on a quality service, no frills approach, with family 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.
Consumer
Established in 1952, BoConcept has evolved into a world-leading developer of interior design and furniture concepts. With the brand promise of ‘Make the most out of your space’ BoConcept has built a strong following across the world and is now present in more than 60 markets through a network of more than 270 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.
"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
Consumer
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.
“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
Healthcare
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.
"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
Industrial
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.
"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
Industrial
Etanco is the leading designer, manufacturer and distributor of building fasteners and fixing systems in France. Headquartered near Paris with 600 employees, the company also has distribution entities in Belgium, Italy and Eastern Europe and exports to more than 20 countries around the world through its Italian subsidiary Friulsider.
Etanco provides a full range of 80,000 products to cope with all the fastening needs of the “building envelope” including waterproofing, roofing, cladding, facades and safety lines. This extensive product range enables Etanco to offer products that meet specific market requirements and growing environmental and European regulatory standards. The company runs an integrated business model with 30%-40% of its products manufactured in-house, and offers world class logistics with all customised products being produced in small series and delivered in less than 48 hours directly to the construction worksite.
As a leading innovator of technical products, Etanco is well positioned to capitalise on the longer term trend of increasing thermal regulation (energy saving) across Europe.
Industrial
Belgium-headquartered EURO-DIESEL was established in 1989. The Company designs, manufactures and maintains Diesel Rotary Uninterruptable Power Supply systems (“DRUPS systems) for top-tier customers in EMEA, the Americas and Asia Pacific through its worldwide network of 12 subsidiaries and over 40 distributors.
EURO-DIESEL has seen significant international expansion through the success of its unique NO-BREAK KS® DRUPS systems which ensure that its customers are immediately protected from power supply failures. This is a mission-critical product for its customers, which include data centres, hospitals, airports, banks, road and railway tunnels.
"The partnership with 3i brings new momentum to EURO-DIESEL’s development. We benefit greatly from 3i’s international network and experience in managing growth while improving operational performance." Philippe Gillain, CEO, EURO-DIESEL
Industrial
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.
“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
Consumer
Founded in 1982 and headquartered in the Netherlands, Hans Anders 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.
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.
"We are delighted to be partnering with 3i. As well as its deep experience and strong track record of supporting retailers in the Benelux and Europe at large, it has an exceptional international network which will greatly benefit Hans Anders. 3i also has experience in the optical market which will be very valuable to our partnership." Remco Boerefijn, CEO, Hans Anders
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 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 2,300 staff and is headquartered in Scottsdale, Arizona with additional offices in Australia, Portugal, India, Mexico, New Zealand and the UK.
Highlights
“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
Business & Technology Services
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.
Consumer
Lampenwelt is the #1 speciality online retailer of lighting products in Europe. Headquartered in Germany, from where it distributes own-brand and third party products to customers in 15 countries across Europe.
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 €61m of sales in 2016, of which 45% came from outside Germany, and has grown strongly in Germany and through a steady roll-out across Europe in recent years.
"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
