• 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, 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: "surprisingly comprehensive, amazingly affordable".

    Highlights

    • Won "European Retailer of the Year" award for three consecutive years
    • Opened five distribution centres
    • Operates more than 1,100 stores across seven countries and employs over 41,000 staff
    • Leveraging our network, experience and resources to further internationalise the business
    • Via our Business Leaders Network, Adrian Bellamy has been appointed Chairman and Marc van Gelder as NXD
    "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
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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 planned under-utilisation of 9 and 11 axis machines and world class integrated CAD / CAM and PLM
    • Received 13 Queen’s Awards
    • Global service is provided through 38 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
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    Aspen Pumps
    UK / Private Equity

    Industrial

    Overview

    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.

    Highlights

    • Strong international presence with products available in over 100 countries
    • Completed four acquisitions in France, Germany, Australia and the UK since our investment
    • Global sales force effectiveness initiative rolled out in 2016 to further accelerate organic growth globally
    • Focus on innovation and new product development, with a number of successful new product launches in 2016 and 2017
    • 80% increase in revenues in the first two and a half years of our investment
    "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
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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

    • Named ‘Best Tour Operator’ at the 2017 Telegraph Travel Awards
    • 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
    • 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
    • Using our extensive experience backing transatlantic growth businesses and international network to support the business’ growth plans and M&A opportunities in new source markets
    "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
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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 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.

    Highlights

    • Transformational growth into the largest value-for-money fitness club operator in Europe, increasing the number of clubs by 75% from 199 to over 350 across the Benelux, France and Spain as per June 2016
    • 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
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    BoConcept
    Denmark / Private Equity

    Consumer

    Overiew

    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 c250 brand stores.

    Following strong business improvement during the last two years, the company realised sales of DKK1.2bn in the financial year ending 30 April 2017.

    Highlights

    • Public to Private in 2016
    • We are supporting the Company in continuing its successful international 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
  • 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 Anders Moberg, former CEO of Ikea, joined the Board via our Business Leaders Network providing retail and internationalisation 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
    • Key Active Partnership initiatives are 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
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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. It is headquartered in Minnesota, operating three facilities across the United States with additional operations in Germany through a subsidiary, Vascotube GmbH (“Vascotube”). Cirtec specialises in outsourced solutions for active implantable devices in the areas of neuromodulation, structural heart, drug delivery, cardiac rhythm management, ventricular assist and minimally invasive 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 positioned to serve attractive therapeutic end-markets that are set to grow at a rate beyond the broader MDO industry.

    Highlights

    • Helping Cirtec expand capabilities and footprint through the acquisitions of Vascotube and Top Tool
    • 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
    "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
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    Dynatect Manufacturing
    North America / Private Equity

    Industrial

    Overview

    Dynatect is a leading manufacturer of engineered, mission critical protective equipment. Its 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 a number of manufacturing plants and distribution locations across North America, Europe and Asia.

    Highlights

    • Continued growth in North America and Europe both organically and through acquisition
    • Taking advantage of the fragmented international market by acquiring two acquisitions in Germany: Halltech and MFB Technik
    • Strengthening its position in North America through new product development and growth into new end markets
    "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
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    Etanco
    France / Private Equity

    Industrial

    Overview

    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.

    Highlights

    • Successfully delivered sales force effectiveness optimisation programme
    • Professionalisation and refocus of the business’ approach to export sales, resulting in a 20% annual growth of exports sales
    • Executing a buy-and-build strategy to both build a direct salesforce within a new market, and buy complementary product ranges
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    EURO-DIESEL
    Benelux / Private Equity

    Industrial

    Overview

    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.

    Highlights

    • Technological leader position sustained through the expansion of its international sales organisation, and continued investment in product innovation
    • Our extensive international experience and contacts in the sector supports EURO-DIESEL’s ambitious international growth agenda
    • Introduced Peter Grosch as Chairman and Mike Tobin OBE as Non-Executive Director via our Business Leaders Network
    "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
  • logo-formel-d.jpg
    Formel D
    Germany / Private Equity

    Industrial

    Overview

    Formel D was founded in 1993 and has over 9,000 employees at 80 facilities in 19 countries worldwide. Formel D is a global service provider to the automotive and component supply industry, developing concepts and scalable solutions for quality assurance and process optimisation along the entire automotive value chain - from development to production through to aftersales.

    Highlights

    • Attractive international growth opportunities both organic and through acquisition
    • Partnering with management to expand the business’ client base in Asia and increasing higher “value-add” services
    • Introduced CITIC Capital China Partners III, L.P as an investment partner with a broad network in China
    • Ralph Heck introduced 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
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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 the Benelux with a presence in Sweden and France. 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.

     

    Highlights

    • Leading value-for-money retailer in eyewear products and hearing aids
    • 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
    "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
  • ICE.png
    I.C.E
    North America / Private Equity

    Business & Technology Services

    Overview

    I.C.E is a travel technology business specialising in managing closed loop loyalty and rewards programs for leading financial services and travel brands.  Through its loyalty and rewards programs and its direct relationships with most cruise, resort and hotel providers, it offers the consumers of its brand partners with exclusive access to value-for-money travel products.

    I.C.E employs over 2,000 employees and is headquartered in Scottsdale, Arizona with additional offices in Australia, Europe, India, Mexico, New Zealand and the UK. The Company has developed proprietary technology enabling it to offer a wide range of loyalty, rewards and open-itinerary travel products across a variety of inventory types, including cruise, resort, hotel, and other leisure products. 

    Highlights

    • Strong underlying market growth in cruise and rewards-based travel; tailwinds towards increased use of loyalty programs
    • We will support the business through several business development and commercial initiatives
    • Utilising our sector experience and international network to enhance organic growth
    • Via our Business Leaders Network, we have appointed Marty Cole, former Chief Executive of Accenture Technology, as Chairman   
    “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
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    JMJ Associates
    North America, UK / Private Equity

    Business & Technology Services

    Overview

    JMJ Associates is a US-headquartered, leading, global management consultancy 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. It's high-quality and longstanding customer base includes market leading businesses in the Oil and Gas, Petrochemical, Mining and Metals Logistics, Manufacturing and Construction industries.

    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, 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 as Chairman, who has unique experience in developing global consulting firms
    • Moved to a full partnership structure in 2015
    • Using our international network to identify and support further growth opportunities
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    Lampenwelt
    Germany / Private Equity

    Consumer

    Overview

    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.

     

    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 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
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